Poly is one of the few real estate developers in China not running a deficit.
Chinese Economics Thread
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Poly is one of the few real estate developers in China not running a deficit.
Social welfare in the US is spent ineffectually and for the purposes of facilitating private profit.
Proof: US education spending as %GDP is 5%. That is higher than Germany (4.8%) and Japan (3.6%).
US education outcomes are worse than Germany and Japan in science and math, and far worse than Japan in fact. They have slightly better reading.
Here's China's federal level spending. Does not account for provincial level spending. Largest categories are health and education.
Spending on welfare doesn't mean not capitalist. We can postulate a slave owning state where one group is completely exploited for profit yet has generous welfare benefits for the ruling class. In fact one of China's neighbors is like that, with 200 million people treated as human and entitled to the protections afforded them by the letter of their law, and 1000 million people living in a state of near feudal exploitation.
Very interesting PISA 2018 results. Some observations:
1. Ranking is by Reading, but Mathematics and Science scores are highly correlated with Reading performance.
2. The top-4 are all regions dominated by (ethnic) Chinese. Taiwan is bit too far behind at 17th.
3. The top-20 are all developed countries/economies, except for mainland China. But then again, mainland China is represented here only by "developed China:" Beijing, Shanghai, Jiangsu and Zhejiang, all with nominal GDP per capita above $20K.
4. Contrary to many conventional wisdom, the US is actually decent. Considering the US is the most populous region/country/economy in the top-20 at 13th. But the US is doing relatively poor at Mathematics and Science among the top-20. It's more meaningful to compare the US with "developed China," Russia, Japan, Germany, which are all large population countries/economies.
A few more words on performance of mainland China:
The "developed China" consists four of the most economically developed cities/provinces of China, with a total population of 180 million. If you add the province of Guangdong, another wealthy province with the largest aggregate GDP and a population of 120 million. You have a developed China of 300 million, roughly equivalent to the US in population, with an average GDP per capita of $20K.
Next level down, you have a few other relatively wealthy coastal provinces such as Fujian and Shandong, plus the capital cities of inland provinces, which together with a total population between 150 - 300 million at per capita GDP at around $15K.
The above two tiers are the high-income China, as defined by UN standard.
"Developed China" actually probably has worse primary and secondary education than "Middle China" (provinces like Hubei, Hunan, Henan, Hebei, Shanxi, Sichuan, Northeast, etc) which have absurdly difficult Gaokao. Gaokao difficulty is determined by universities per capita for which Beijing and Shanghai are ridiculously high. Middle China has tons of schools but even more people.
Just hike the rmb by 5% per year for the next 10 yrs. China can easily double its gdp per capita.
@Strangelove bro I like what is reported from that article...hehehehe, There goes Australian hope of China buying their coal...LOL more AUKUS please!
China’s imports of coal and related products surged 76% from a year ago in September to 32.9 million tons — the highest monthly level The value of those coal imports more than tripled year-on-year to $3.91 billion.
Prices for thermal coal, the primary fuel for electricity production, have more than doubled this year, according to futures traded on the Zhengzhou Commodity Exchange. A shortage of coal has and prompted authorities to
Li Keqiang was just in a video meeting with the Mongolian prime minister to discuss long-term coal supplies.
AssassinsMace
Lieutenant General
Hendrik_2000
Lieutenant General
Despite power shortage Chinese export jump. So much for Lehman moment
By OCTOBER 13, 2021
China’s exports rose unexpectedly in September, official data showed Wednesday, but analysts warned of a looming hit from the country’s power crunch that has disrupted supply.
The data came after a sharp jump in trade in the world’s second-largest economy in August, suggesting that overseas demand for consumer goods had surged as a domestic virus outbreak was brought to heel.
But last month many factories were forced to halt operations owing to power outages caused by emission reduction targets, the surging price of coal and supply shortages – raising concern about global supply chains.
Yet, exports rose a better-than-expected 28.1% on-year in September, according to customs authorities – up from 25.6% in August.
This was a monthly record of US$305.7 billion.
China exports in surprise jump despite power crunch
Exports rose a better-than-expected 28.1% on-year in September, according to authorities – up from 25.6% in AugustBy OCTOBER 13, 2021
China’s exports rose unexpectedly in September, official data showed Wednesday, but analysts warned of a looming hit from the country’s power crunch that has disrupted supply.
The data came after a sharp jump in trade in the world’s second-largest economy in August, suggesting that overseas demand for consumer goods had surged as a domestic virus outbreak was brought to heel.
But last month many factories were forced to halt operations owing to power outages caused by emission reduction targets, the surging price of coal and supply shortages – raising concern about global supply chains.
Yet, exports rose a better-than-expected 28.1% on-year in September, according to customs authorities – up from 25.6% in August.
This was a monthly record of US$305.7 billion.