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Deleted member 15887
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the reason was the trade war, gotta lessen the burden on SME's
Chinese Economics Thread
- Thread starter Norfolk
- Start date
The Indians will just come in and take the hitech jobs in the US.
There are huge wage disparities in China. Sector to sector. Region to region.
I think eventually the minimum wage will increase.
With regards to HSR network construction. I think even if China totally stopped HSR construction right now they would be ok.
The proposed plan to connect all cities with at least 5 million people is also ok.
Eventually construction will stop. But we are still far from hitting the point where that will happen.
Idiots living in suburbia sprawl who drive to the airport with the massive energy waste that entails cannot understand it.
Using maglev to connect all their major cities is going to be the big next step up after conventional rail I think.
It will basically kill the airline industry for internal flying except for really remote places.
This will enable vast movements of people across wide regions and increase circulation. Turbo-boosting the economy.
If they are decreasing Metro construction in China, now that I think is a problem.
China is still vastly underserved by Metro facilities. The Metro systems also need to be rationalized.
China needs to increase commonality in Metro with standards both in track and rolling stock like they did with HSR.
This will drive down both costs and maintenance. This is the next big thing I think.
China's current efforts done by Xi's government with getting people outside the countryside into mid sized cities is going to make major changes to the fabric of Chinese society. It will enable the mechanization of farming and there will likely be huge increases not only in farming output but also in farming productivity. The government needs to support factory farms including vertical farming.
After transport China needs to improve is energy sector. The investments into the natural gas and oil pipelines are only the start.
Can you imagine that only now is China connecting Beijing and Shanghai with natural gas pipes? Huge investment which will take over a decade. This will enable increased efficiency in moving energy supplies from one place to another. It will enable China to move away from dirty coal in urban centers.
The next big thing in energy, I think, will be the high voltage electric interconnect. Right now China is making a huge investment in these kinds of facilities, dwarfing the rest of the world. If you look at it these grids basically connect the country from the coast to the country.
I think eventually the minimum wage will increase.
With regards to HSR network construction. I think even if China totally stopped HSR construction right now they would be ok.
The proposed plan to connect all cities with at least 5 million people is also ok.
Eventually construction will stop. But we are still far from hitting the point where that will happen.
Idiots living in suburbia sprawl who drive to the airport with the massive energy waste that entails cannot understand it.
Using maglev to connect all their major cities is going to be the big next step up after conventional rail I think.
It will basically kill the airline industry for internal flying except for really remote places.
This will enable vast movements of people across wide regions and increase circulation. Turbo-boosting the economy.
If they are decreasing Metro construction in China, now that I think is a problem.
China is still vastly underserved by Metro facilities. The Metro systems also need to be rationalized.
China needs to increase commonality in Metro with standards both in track and rolling stock like they did with HSR.
This will drive down both costs and maintenance. This is the next big thing I think.
China's current efforts done by Xi's government with getting people outside the countryside into mid sized cities is going to make major changes to the fabric of Chinese society. It will enable the mechanization of farming and there will likely be huge increases not only in farming output but also in farming productivity. The government needs to support factory farms including vertical farming.
After transport China needs to improve is energy sector. The investments into the natural gas and oil pipelines are only the start.
Can you imagine that only now is China connecting Beijing and Shanghai with natural gas pipes? Huge investment which will take over a decade. This will enable increased efficiency in moving energy supplies from one place to another. It will enable China to move away from dirty coal in urban centers.
The next big thing in energy, I think, will be the high voltage electric interconnect. Right now China is making a huge investment in these kinds of facilities, dwarfing the rest of the world. If you look at it these grids basically connect the country from the coast to the country.
I thought China was merely being cautious and prudent when it made aware its decision to support only profitable / self sustaining HSR lines.
Extending the same thought to Metro construction and everything else seems rational and natural. What if China, in its long term planning or analysis found that further Metro expansions aren't going to be a great boost like before?
And Maglevs are a cash drain. I don't expect them to be laid down and expanded like the HSR. There are likely to be two or three lines just for enhancing the identities of certain city clusters or Zones.
I said high consumer consumption was not a requirement for a society to get to high-income status.
That is not the same as saying consumer consumption is not relevant.
I agree that South Korea, Taiwan and Japan have problems due to low wages and that a high minimum would help solve many of these issues.
I already did a post a few week's ago that based on the experiences of the UK, France and Germany - a minimum wage of $13-$15 per hour should be feasible for the USA.
The same argument applies to South Korea, Taiwan and Japan
I think it is obvious that there aren't enough high-value add jobs for everyone, nor is everyone suited to such jobs.
But it is these sorts of jobs and industries which produce the surplus wealth required if you want to redistribute.
And a high minimum wage is one of the methods to do this.
I think you misunderstand the causality.
High levels of R&D spending always results in a high-income society. That is what the real-life data shows.
But a high-income society doesn't have to be based on R&D.
They can be based on natural resources, as you mentioned previously.
A few weeks ago, we already had a discussion which looked at how in the USA, all the economic gains for the past 20+ years had accrued to the top whilst wages for the average worker had been stagnant for decades.
For janitorial staff in the US, I would support an eventual minimum wage of $15 per hour (2000+ USD per month), like we already see in Western Europe. In the case of China, the question is how fast minimum wages should increase, which is a difficult call.
And where did I say the Chinese government is stupid for focusing on consumption?
My point is that technology upgrading comes first.
Then there's the spare resources for higher consumption by lower income earners.
Yes I looked at a map and the line that was cancelled, according to that article, already has another 350 kph rail line right next to it.
I disagree with the Metro construction stop because I think China is underserved in this regard. For example in the Soviet Union the threshold for building a Metro system was for a city to have 1 million people. How many of those cities in China have Metros?
The maglev would only be built connecting major cities over 10 million people.
Nations within RCEP will be trading in national currencies and not the USD,
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Deleted member 15887
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Vaccination Update: China's total vaccine doses have now finally surpassed the US, at 236 million doses of vaccines administered.
Well done. Accelerate vaccine production even more. The whole world needs Chinese vaccines to combat this virus.
Africa especially is in dire situation.
More help please