Chinese Economics Thread
- Thread starter Norfolk
- Start date
Yeah it puts bogus GDP in USD numbers in perspective.
The US can simply print itself into higher GDP numbers. They can buy a pair of socks from China by $1 USD, change a label, resell it at a steep markup like at $10 USD, and then US economy "contributes" $9 USD in value while Chinese economy contributes $1 USD in value.
GDP in USD is BS. It is when we look at hard real world numbers like these that we can see it.
The US can simply print itself into higher GDP numbers. They can buy a pair of socks from China by $1 USD, change a label, resell it at a steep markup like at $10 USD, and then US economy "contributes" $9 USD in value while Chinese economy contributes $1 USD in value.
GDP in USD is BS. It is when we look at hard real world numbers like these that we can see it.
Nvm I took wrong data, it's closer to 4.2TkWh
Also US real wages haven't changed in a long time.
China's economy is severely undervalued. Along with other developing nations. All due to dollar reserve status.
That said I have no trouble believing the relative strength (6x in GDP and electricity usage) of China's economy vs India's.
True inflation in US is 10% a year not 2%
A person making $45k 10 years ago has to be making over $100k for same standard of living
The average American standard of living has been declining for last 30 years
Huawei founder sees no end to US sanctions
BEIJING — The founder of Huawei said Tuesday he doubts President Joe Biden will remove U.S. sanctions that battered the telecom equipment giant’s smartphone sales but expressed confidence the company can survive.
Speaking in the central city of Taiyuan, Ren Zhengfei said strong sales of network gear and other technology should make up for Huawei’s weaker handset business, according to a transcript released by the company.
“We can still survive even without relying on phone sales,” he was quoted as telling reporters.
Huawei Technologies Ltd., China’s first global tech brand, is at the center of conflict with Washington over technology and security. American officials say the maker of network equipment and smartphones might facilitate Chinese spying, an accusation Ren and other executives deny.
Then-President Donald Trump cut off Huawei’s access to U.S. processor chips and other technology needed to make smartphones in 2019. Last year, Trump tightened those curbs by prohibiting suppliers from using U.S. technology to make chips for Huawei designed by its own engineers.
Ren said he expects Biden to consider U.S. chip and other suppliers that are losing billions of dollars in sales to Huawei. But he said it is “very unlikely” Huawei will be removed from the “Entity List.”
“I won’t say it’s impossible, but it’s extremely unlikely. We basically aren’t considering it a possibility,” Ren said.
Huawei sold its lower-priced Honor handset brand last year in an attempt to revive its sales by separating it from U.S. sanctions on the parent company.
Huawei’s smartphone sales, including Honor, fell 22% last year to 188.5 million handsets, according to Canalys. In the fourth quarter, Huawei fell out of the top five global brands for the first time in six years.
Ren, a former military engineer who founded Huawei in 1987, said last year’s sales and profits were higher than 2019 but gave no details. Huawei, which is privately held, began reporting financial results a decade ago in an attempt to defuse foreign unease.
Ren was in Taiyuan in the center of China’s coal country for the opening of a mining industry research center. He pointed to mining as an example of an industrial customer for Huawei’s network technology to link devices.
Last edited:
That's what I like about Ren Zhengfei, don't rely on others especially a foreigner. His calmness exude confidence, I think this year there will be a solution for his chip problem especially in 5g base station and others( SMIC 14nm and N+1 8nm), even if SMIC will able to mass produce its N+2, Huawei may use it for its mid range product and sadly may forgo its P and Mate series.
I believe the 7T number was reported by the State Grid. China also has a substantial off-grid electricity generation component (e.g. coal-based aluminum smeltering and hydro-based bitcoin mining).
If China's peak power usage is around 2035, at 5% electricity growth rate., China will be at 15T which means rough parity with the U.S. in per capita consumption.
If China's peak power usage is around 2035, at 5% electricity growth rate., China will be at 15T which means rough parity with the U.S. in per capita consumption.
Yeah who watches that crap anymore anyways. They haven’t produce anything really worth a damn and the last Hollywood movie I have scene is that new stars wars crap that makes me honestly question, how on earth do the villains get away with blowing up planets which is almost similar to how the USA gets away with blowing up the Middle East all the time. I seriously pray that unlike star wars that the villains in real life finally get theirs.
On a brighter note, I really want to watch detective Chinatown 3
Joker is still the best movie though.