Chinese Economics Thread
- Thread starter Norfolk
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Don't think it is possible to reopen anytime soon. A lot of preparation needs to be done before reopening and we haven't seem any sign of it yet.
I think cracking down of real estate and tech also have effect. In addition, China never made a big stimulus and big handouts like the West so spending never got the big boost.
I think cracking down of real estate and tech also have effect. In addition, China never made a big stimulus and big handouts like the West so spending never got the big boost.
The US will try to pull its usual shenenigans and put the kibosh on Chinese EVs to Russia with secondary sanctions like they already do.
They will sanction the companies which make the EVs, the chips used in the EVs, the fabs which make the chips, etc.
The EU will pile on with the US because this will cut EV competition from China in Europe which would be undercutting their own manufacturers. This could split the world economy in two.
I think China should setup joint venture to make electric cars in Russia. This should work better. You make the battery materials in Russia where energy is cheaper and ship them elsewhere for packaging.
Russia's pain is China's gain since they are basically showing what will happen with China once the West goes gunning for them.
Russia has Yandex Pay. So I think the claims that Apple Pay and Google Pay are essential for Russia as you see in MSM are BS.
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Yeah, I agree completely.
But, this is a big mistake.
If the west pushes, then what happens if the other side pushes back? Like what Russia just did. It has exposed the west as a bunch of empty suits.
If they split the world economy into two, such as the west pushes, then China pushes back ruthlessly and very hard, who is going to dominate the markets of the world?
To me, the Huawei fight was the most important.
Only eight countries in the entire world had banned Huawei.
Huawei is everywhere in the network from ASEAN, to China, to Russia, to the Middle East, to Africa, to South America and into Latin America. That is just one Chinese company.
The real danger is the west self-isolates from the world economy, which is the most probable outcome if push comes to shove.
China will call their bluff on the economic front every step of the way.
China should drop GDP targets. That kind of thinking led a lot of local officials to fake their data and/or conceal bad news to hit artificial benchmarks. It also encouraged local officials to take on massive debt. China's convergence will continue either with less accommodative policies; it's just 1/6th of US GDP per capita.
@mossen bro without a target how can you measure your success, I'm not trying to be a smart aleck, the National gov't set a goal, now it's up to provincial, state enterprises and city gov't to implement it, I always think that the CCP operates like a Corporate entity with a powerful HR overseeing its operation. And also a way to test the upcoming leaders and to hone their skills.
Without a benchmark, how do you evaluate local officials. China is a merit based system. It is true that setting goals and criteria do lead to corruption and abuse. However, many officials were able to rise through the rank. The Chinese government recognizes the deficiency of sole GDP benchmark so it has expanded the benchmark to include environmental, poverty, and many other new benchmarks to offset the negative effect of relying on a single criteria.
The words baby and bathwater come to mind, the direction China seems to be heading towards is using big data to tackle the issue of erroneous statistics, your 'approach' is the kind of weak willed 'western' thinking of avoiding problems rather than tackling them.
Meeting targets, folks will game the system let's not bother! Illegal drug use too difficult to police, let's just make them legal! Covid-19, too much like hard work trying to save people, just let God decide!
One man's meat another man's poison, or in the politically correct vernacular one entity's food is another's poison, because after all, the packaging is far more important than the content!