Chinese Economics Thread

[Nobonita Barua]

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Great, they are now setting up to even ban Chinese TVs probably, and eventually try to force every European, Latin American, Middle Eastern country to do the same.

What's next? WTF is China going to do about this? Just sit there while every single tech product is banned? Probably Chinese automobiles will be banned before they can even start competing en mass with Toyota or GM or VW. This is a joke.

They are trying to turn China into 1990s Iraq.

It's innocent & nuisance Chinese public you need to worry about. After this, they will still think this is evil abc administration, goody goody amrikans don't agree with these.

This is same free fake amrikans who want to have a choice & freedom of taking vaccine who has to be warned & stopped by their government from investing in Chinese firms.

Tomorrow they will say Chinese made toilet papers may have backdoors too.

They are trying to stop flow of money to China. Backdoors & military ties are BS. As long as money keeps flowing into China, they will lose control over global financial system.

China should focus on uprooting US from global financial system.

 

[daifo]

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Great, they are now setting up to even ban Chinese TVs probably, and eventually try to force every European, Latin American, Middle Eastern country to do the same.

What's next? WTF is China going to do about this? Just sit there while every single tech product is banned? Probably Chinese automobiles will be banned before they can even start competing en mass with Toyota or GM or VW. This is a joke.

They are trying to turn China into 1990s Iraq.

They miss saying the part that there are security holes in every product / website/ tech from every single company regardless of national origins.

 

[localizer]

Now who has the last laugh. China economy is booming there is shortage of worker right now. wages has shot up still they can't entice worker since most of them found job closer to home. Tariff or no tariff China is winning the trade war That is the ultimate soft power!

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As China’s coronavirus rebound gathers steam, export-oriented manufacturers struggle to find workers​

• Factories in China’s south and east are struggling to find enough workers to fill surging export orders thanks to strong demand in Western countries
• The uptick in orders is proving a double-edged sword for many manufacturers, driving up wages and in some case forcing them to delay shipments

A sharp rebound in China’s manufacturing in recent months, spurred on by surging demand for exports in the West, has caused labour shortages in the country’s south and east, with many factory owners scrambling to keep pace with overseas orders.
Employers are offering higher wages to entice migrant workers back from their hometowns, but analysts say the shortfall in employees is likely to last well into next year.
China’s exports surged at the fastest pace in almost three years in November, the sixth consecutive month of growth, with manufacturers continuing to capitalise on coronavirus restrictions elsewhere in the world.

(cont)

They should pay more wages then and raise prices of the products.

Nothing wrong with Chinese factory workers earning GDP/capita wage (70k rmb)

 

[vincent]

Can everyone please add gadgetcool to his/her ignore list? Thank you

 

[Hendrik_2000]

They should pay more wages then and raise prices of the products.

Nothing wrong with Chinese factory workers earning GDP/capita wage (70k rmb)

Agree there is plan on foot now to do just that I think that is what china should be concentrating as the best weapon against effort to strangle China economically. They should distribute the wealth more equally and raise the living standard of the poor therefore raise consumption. And not to care much about static and noise coming from the west. they can take the page from Hayato Ikeda effort to double the income in the 60's

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Top officials including President Xi Jinping and Vice Premier Liu He have drawn attention to those issues this year. In a speech published in August, Xi spoke about the low share of wages in GDP and “outstanding problems in income distribution” and cited French economist Thomas Piketty’s “Capital in the 21st Century,” as showing the harmful effects of inequality. Liu has called for improving mechanisms to increase wages.

“In the short term, the aim will likely be to boost domestic demand with public consumption and investment,” said David Qu, an economist at Bloomberg Economics. “Longer-term policies will be aimed at spurring a structural shift in household consumption toward higher value-added products and services.”

After an annual economic planning meeting this month, the party promised to “optimize the income structure and expand the middle-income group.” Shanghai’s city government included a “fair” income distribution in its next five-year plan, including “regulating excessively high-incomes.”

This will require more government intervention through taxes, some government-affiliated economists say. “When a country has a higher level of income, the government will intensify income redistribution efforts with taxation and transfer payments,” according to a speech in August by Cai Fang, vice president at the Chinese Academy of Social Sciences, an influential government think tank.

Specific measures could include raising income taxes on the wealthiest, providing income-tax credits to lower earners, imposing taxes on wealth such as property, and levying capital gains charges on financial transactions, most of which are exempt from tax.

 

[ansy1968]

Hi localizer,

How ironic, the free world oppress labor (outsourcing), while communist China liberated them. I heard and read a lot of complain from concern vlogger about how Amazon treats it's workers and yet they were protected from lawsuit and given financial support under the CARE ACT of 2020. Corporate America had the US gov't under it's control and is an example of a Regulatory Capture, the American style of capitalism is one of SCARCITY, you limit the product the masses want to control the price and eventually the workers themselves, with them at the helm , America had become a less concerning society.

Regarding wages, it's perfect timing to increase wages as a part of the DUAL CIRCULATION strategy. And with the rising value of the YUAN, Chinese workers and masses deserves the benefit for years of hard toil.

 

[localizer]

Agree there is plan on foot now to do just that I think that is what china should be concentrating as the best weapon against effort to strangle China economically. They should distribute the wealth more equally and raise the living standard of the poor therefore raise consumption. And not to care much about static and noise coming from the west. they can take the page from Hayato Ikeda effort to double the income in the 60's

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Top officials including President Xi Jinping and Vice Premier Liu He have drawn attention to those issues this year. In a speech published in August, Xi spoke about the low share of wages in GDP and “outstanding problems in income distribution” and cited French economist Thomas Piketty’s “Capital in the 21st Century,” as showing the harmful effects of inequality. Liu has called for improving mechanisms to increase wages.

“In the short term, the aim will likely be to boost domestic demand with public consumption and investment,” said David Qu, an economist at Bloomberg Economics. “Longer-term policies will be aimed at spurring a structural shift in household consumption toward higher value-added products and services.”

After an annual economic planning meeting this month, the party promised to “optimize the income structure and expand the middle-income group.” Shanghai’s city government included a “fair” income distribution in its next five-year plan, including “regulating excessively high-incomes.”

This will require more government intervention through taxes, some government-affiliated economists say. “When a country has a higher level of income, the government will intensify income redistribution efforts with taxation and transfer payments,” according to a speech in August by Cai Fang, vice president at the Chinese Academy of Social Sciences, an influential government think tank.

Specific measures could include raising income taxes on the wealthiest, providing income-tax credits to lower earners, imposing taxes on wealth such as property, and levying capital gains charges on financial transactions, most of which are exempt from tax.

Hi localizer,

How ironic, the free world oppress labor (outsourcing), while communist China liberated them. I heard and read a lot of complain from concern vlogger about how Amazon treats it's workers and yet they were protected from lawsuit and given financial support under the CARE ACT of 2020. Corporate America had the US gov't under it's control and is an example of a Regulatory Capture, the American style of capitalism is one of SCARCITY, you limit the product the masses want to control the price and eventually the workers themselves, with them at the helm , America had become a less concerning society.

Regarding wages, it's perfect timing to increase wages as a part of the DUAL CIRCULATION strategy. And with the rising value of the YUAN, Chinese workers and masses deserves the benefit for years of hard toil.

A big part of increasing domestic consumption has to be letting RMB appreciate I would think?

Chinese still spend like 30% of money on food.



I think RMB needs to double in value considering the current GDP to PPP is 1:2.

Maybe they can spread this out to 2035?


Hehe imagine if GDP doubles by 2035, and Yuan appreciates 2x, China will be at like $50-60T GDP

Kinda like what happened to Japan post Plaza accord:



Japan Quadrupled its GPD per capita in 10 years from $10k to $40k.

 

[sinophilia]

I spend a huge amount of time bringing the Chinese perspective to the West and telling Westerners to be less antagonistic towards China. But I need some help from China's actions as well. Both sides need to calm down and think rationally, not emotionally, win-win cooperation benefits both sides.

Wow a real-life diplomat you are..

In all seriousness, why do so many Indians like to roleplay positions of significance on the internet. Stop feigning respect for China or an attempt at getting China to be more diplomatic. You are just looking for brownie points from people.

Truth is China is being too weak, it has not revealed its strength to the world yet and the current form of government for some silly reason still doesn't want to play its hand, and you want China to be play even weaker than it is already acting.

 

[localizer]

Wow a real-life diplomat you are..

In all seriousness, why do so many Indians like to roleplay positions of significance on the internet. Stop feigning respect for China or an attempt at getting China to be more diplomatic. You are just looking for brownie points from people.

Truth is China is being too weak, it has not revealed its strength to the world yet and the current form of government for some silly reason still doesn't want to play its hand, and you want China to be play even weaker than it is already acting.

Indians think they better than Chinese because they more Aryan.
Resulting in them being patronizing.

They should get Trump to be their PM after modi.

 

[Equation]

I said China doesn't have to concede on a single thing, and it's surrender? Why is everything surrender? If I said China should conquer the whole world and enslave all whites, you would say it's surrender. This is unreasonable. Why can't China even make one iota of movement towards improving relations with another country? Why is this so anathema?

Because China did NOT started this trade and power wars with the West. The West did. Why can't the West admit to their immoral wrong actions to the world and China?