Chinese Economics Thread

NiuBiDaRen

NiuBiDaRen

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Nike, Adidas are losing out in China Foreign brands have recently been feeling a bit anxious in China. Adidas and Nike reported disappointing sales in greater China. The revenue of Adidas in China in the first quarter of 2022 decreased by 28.4 percent compared with the same period last year, hitting a "new high" for the brand. Nike also reported a negative revenue growth in greater China in its first quarter. Just at the beginning of last year, the "shoe speculation" was popular among young people. A pair of Nike shoes were sold for tens of thousands of yuan, but this year, the "shoe speculation situation" is different. Chinese consumers seem to be no longer fascinated with foreign brands and are starting to focus on Chinese brands such as China-Chic. Why do you think these brands are losing their market share in China? Can Chinese brands overcome these international brands in the next few years? CGTN’vox pop program"C the difference"will release an episode to ask Generation Z about what they think of this situation. Please stay tuned.


CCTV documentary on summer fashion in China in 2022, especially on China wave of fashion.
 
Peas

Peas

Junior Member
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SanWenYu said:
Yes this could have been handled much better from the beginning if the local governments had some PR training. Unfortunately, such skills are seriously lacking among them.

This problem has been pointed out for years. CPC and the governments at all levels have been learning and changing. For example, we have been seeing more and more government branches adding the position of spokesperson and having more news briefings, many hotline phone numbers and social media accounts published, etc. But it's been slow and many are only on the surface so far.

And, as usual, there are bureaucrats who are arrogant and stupid at the same time.
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Today a bunch of officers came to the bank I am working
They checked the bank's trading systems and records, checked every big transaction, asked us a few questions and left
Exhaustedo_O
 
Z

zhangjim

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Crang said:
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Nike, Adidas are losing out in China Foreign brands have recently been feeling a bit anxious in China. Adidas and Nike reported disappointing sales in greater China. The revenue of Adidas in China in the first quarter of 2022 decreased by 28.4 percent compared with the same period last year, hitting a "new high" for the brand. Nike also reported a negative revenue growth in greater China in its first quarter. Just at the beginning of last year, the "shoe speculation" was popular among young people. A pair of Nike shoes were sold for tens of thousands of yuan, but this year, the "shoe speculation situation" is different. Chinese consumers seem to be no longer fascinated with foreign brands and are starting to focus on Chinese brands such as China-Chic. Why do you think these brands are losing their market share in China? Can Chinese brands overcome these international brands in the next few years? CGTN’vox pop program"C the difference"will release an episode to ask Generation Z about what they think of this situation. Please stay tuned.


CCTV documentary on summer fashion in China in 2022, especially on China wave of fashion.
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There are several reasons for this：
1、The Chinese will not tolerate these foreign brands using trumped-up charges to "judge" the Chinese.
2、The quality of these goods produced in Southeast Asia and South Asia has declined seriously, even worse than the counterfeit brands in China.
3、"Consumption degradation", because of economic factors, people are unwilling to buy those things that are too expensive.
 
Philister

Philister

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Bellum_Romanum said:
But what I don't understand is why would any businesses who wants to make money, especially profit from China and the Chinese market would then move out its supposed facilities into countries like India, Vietnam only for their said products to be then sold back into China?

This sort of strategy would work if China isn't one of the largest market or in some cases the biggest source of revenues for a lot of western companies.

A lot of the so-called news, analysis from these experts have been colored and dumbed down by politics and ideological western nonsense that most people that are already in the dark about these sort of issues becomes even more dumber and gullible being fed these atrocious illogical nonsense.

I mean, I am not an economist but any person with any sense of geopolitical understanding would conclude that much of the reasons why Vietnam is an attractive destination for businesses is it's close proximity to China and the fact that ASEAN region was and is still pegged by most analysts to have a growing robust economy (pre-Ukraine analysis) which is more than what was projected from the economic growth in EU, U.S. which means business opportunity to make money. Not to mention the region offers political, social, and cultural stability in relative comparison to other continents like Africa, the Middle East that have large size population.

China prospering allows secondary, tertiary effects on other countries around her periphery and the fact that its able to tap on it's surplus to essentially build and rebuild a lot of the infrastructures around the world have transformed what was once a mere possibility for ASEAN countries economic growth to materialize that's now being realized.
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It’s logical that some companies like Nike or adidas moved to Vietnam, they are indeed making more money there, shoe making aren’t high tech , supply chain is relatively short and China is next door.
But India, or dare I say south Asian countries, are absolutely so not ideal for any manufacturing business, the infrastructure, the industrial foundation, the policy , the working ethic, the list goes on. Bengal was fine in the past few years if you are in garment industry，can’t say for next few years.
This recession we are currently in, will destroy many countries, Sri Lanka is merely a start, south Asian/American countries aren’t looking good ,Egypt&Argentina&Turkey are hanging by a thread.
China isn’t going to lose the supply chain because massive globalization is OVER, it’s almost impossible to make a brand new supply chain elsewhere, and China being the supply chain would guarantee that would not happen.
 
M

MortyandRick

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escobar said:
https://twitter.com/i/web/status/1546887375506251779
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I'm confused. So scmp reported that the stockpile of cotton is 1 million tons more than the same time last year and the govt is buying half a million tons, so half of the surplus cotton compared to last year and they reported someone there saying it's barely a boost.

Who are these people speaking to scmp? They are never identify. I feel scmp is exaggerating the situation a bit for headlines and purposefully painting a gloomy picture. Have they become even more biased in the last few years?

They produce articles that are also anti Marcos, and pro US think tanks.
 
X

xypher

Senior Member
Registered Member
MortyandRick said:
I'm confused. So scmp reported that the stockpile of cotton is 1 million tons more than the same time last year and the govt is buying half a million tons, so half of the surplus cotton compared to last year and they reported someone there saying it's barely a boost.

Who are these people speaking to scmp? They are never identify. I feel scmp is exaggerating the situation a bit for headlines and purposefully painting a gloomy picture. Have they become even more biased in the last few years?

They produce articles that are also anti Marcos, and pro US think tanks.
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Well, it is a Hong Cuck newspaper. Nuff said.
 
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