Chinese Economics Thread
- Thread starter Norfolk
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This guy sure talks a lot. I can just give you one example which would blow his whole theory. Imagine the largest companies in China are able to invest in automation and the small ones cannot. Boom. Their profit margins might increase. And this is bad for the Chinese economy because? Because?
As long as the Chinese government makes these companies invest those profits into useful activities instead of crap like stock buybacks as done in the US it will mean the Chinese big corporations will grow in scale and be better able to fight in the global market. Or use the profits to invest in R&D. AT&T, at the time of the monopoly, used to be one of the largest investors in R&D and invented many of the technologies we take for granted today. Precisely because of the juicy profits they had.
Dont even bother with that doomer. In fact he just complained on Twitter that home prices in China might not rise lol
I swear, I have never ever seen him write anything positive about the Chinese economy. He is the economic version of Gordon Chang
The President of E.U. Chamber of commerce did qualify his statement in the end with "for now." And based on other chamber of commerce including that of the U.S. none of them are lining up to leaving China and setting up businesses in other parts of Asia or whatever countries they like to mention.
From a personal andecdote, the company I work for in North America begrudgingly admitted as such that despite their country not able to "hold hands with China" and them wanting to supposedly leave; the best, and most efficient company that manufactures our product is in China. Now mind you, we have manufacturing bases all over the world including Mexico and some in the U.S. as to be expected working in America, there'll always be this one asinine person who makes anti-China spiel but even this person who typifies your anti-China commentariat even defeatedly agreed with that assessment and most importantly said that we can't leave since we want to cash in on that HUGE CHINESE MARKET which powered by a massive growing CHINESE MIDDLE CLASS. This is the point that dumb dumbs need to understand and not the stupid political rhetoric disguise as some sort of strategy. What the heck happened to common sense around here.
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At the end of the day, ACTIONS AND DATA=$¥€£ SPEAKS. All this talk about oh China is doom because of zero-covid policy is just laughable and stupid. I mean, I thought the preceding 2 years and real-time economic results where China was the only country to come out relatively unscathed from Covid-19 would have given the naysayers and a more objective observers of China a much better understanding, appreciation of what CPC can do. Talk is cheap, and to panic because the more optimistic number is not being achieved is just unfortunate IMHO. CPC has been making adjustments according to available data and policies reflect and will reflect that on the ground. Considering all the challenges both man-made and natural the country has face these past 6 years China has dealt with the challenges relatively well. Now, has it been perfect? Heck no, but I bet you in whatever denominations you prefer that any of those so-called OECD countries wish they have China's economic numbers versus what they have been getting which is anemic economic performance. And now that inflation has hit their precious countries pretty hard then they can expect nothing but another round of economic regression.
China has a strategy in place and they will stick to it regardless of the howls from the peanut gallery.
Despite him being the Gordan Chang of China's economic performance throughout these years, has he ever been asked to leave China? No? Then how come? /s.
I had an intense online sparring/debating session with this bond-salesman turn "academic" back around 2006 and 2007 when he claimed the Chinese space programme was a waste of money; the value of Beidou, remote sensing & tracking and other spin-off science and technology were completely oblivious to him. God knows why he still sticks around like some venereal disease...
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We would like to not bother with him, but you're the one who posted him.
I posted him because he was the author of that Carnegie article who another member posted. I find him a lot in Twitter so people should at least be made aware of his character so that they don't take his "analysis" seriously