Is that right? then shouldn't the RMB on decline? Or is china just so rich now its buying more stocks and bonds across the world?
Chinese Economics Thread
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Is that right? then shouldn't the RMB on decline? Or is china just so rich now its buying more stocks and bonds across the world?
We need more updated data.
It is true that during the start of the pandemic, traitors with no faith in China sent their money out. RMB was devalued hard then due to trade war + pandemic. Maybe they were afraid of further devaluation.
Those sacks of shit lost 10%+ of their money due to CCP competence and sudden jump in RMB.
We might see a reverse in later data. Unless people are using this opportunity to exploit the high RMB:USD exchange rate to get more money out.
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Quite strange that capital inflow only occurs after 2016?
CCP implemented stringent capital control due to corrupt officials moving their money out during Xi's crackdown.
$50k/year/person to outside after 2015. And you need to have a reason to do so.
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Great way to end the year, All this without a massive stimulus package .
Retail Sales no. is disappointing. The dual circulation strategy wont succeed if Chinese aren't willing to loosen their pockets. But as its a pandemic year , people are apprehensive of their economic future so savings is the way ahead for them.
Nevertheless hope to see that figure improve in 2021.
With the pandemic going on and many Chinese still out of jobs, it's not hard to imagine people are reluctant to spend like in the recent US retail data.
We didn't expect the West to fail so hard.
tbh US stimulus was a huge boon for China due to China ending up being the only source of consumer products in the world.
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The net capital outflow is just the reverse of the goods account (net exports). It does not mean the departure of hot money.
So if you have some exporter being paid in euros, and then his bank goes and invests that money in European bonds, it's called capital outflow. But the owner is still Chinese.
Any one have source or link on how Chinese GDP will grow in 2022?
Hendrik_2000
Lieutenant General
Barring pandemic breakout or WW III Chinese economy will keep powering ahead and grow will accelerate from 6 to 7 or 8% Like they say it become boring when you keep winning where is Gordon Chang or his ilk
From Wapo lamenting the rocketing Chinese economy
“China’s economy continues to power ahead with remarkable momentum, leaving other major economies, most of which are still struggling to register some semblance of growth, in the dust,” said Eswar Prasad, a professor at Cornell University and former China director for the International Monetary Fund. “With its outstanding growth performance, China has cemented its position as the primary driver of what has so far been a dismal global economic recovery.”