The heroic city of Wuhan
Chinese Economics Thread
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The heroic city of Wuhan
China collapsing narrative is as old as China threat one. But it does seem more concentrated recently which if you follow China reporting/analysis/watching nowadays you know mostly fall into two categories. Projection and copium. They know the west is falling into recession and collapse due to their own stupidity, so they will try to bring China into it as well.
The housing collapse is ok. It will drag the gdp growth numbers but I never really considered housing as part of the real gdp in the first place. Real estate, insurance, financial, is all fake gdp.
China should stay away from them and instead let the West delude itself with its crypto, rent equivalent, medical/lawyers bills bs
China should stay away from them and instead let the West delude itself with its crypto, rent equivalent, medical/lawyers bills bs
For all the talk in Western capitals of reducing reliance on Chinese factories, China has in the past two years consolidated its position as the world’s dominant supplier of manufactured goods.
China's surprising export resilience reflects in part the country's gains in moving up the value chain into capital goods, vehicles, engines and heavy machinery—which helps explain why China is eating into the export market share of countries like Germany.
China slice of global electronics exports increased to 42% in 2021 from 38% in 2019.
this year China's total exports will cross magical $4 trillion mark. insane
The real value and real wealth is on production and PRC is going full steam. Nothing to afraid of, except of a stupidness epidemic at the politburo and China switch to liberal capitalist mode of production. Modern economics' apologists fall prey to their own contradictions. They created an anomaly that has nothing to do with the term economy even at a conceptual level, of course in their knowledge and to protect but also to promote specific selfish interests. Very poor performance. They cannot understand that Marxism for example is not a different type of economics in the spectrum of epistemology. It's just a different perspective on the same subject. It is surprising that in the year 2022 "modern western societies" tolerate having crowns on their heads OMG. They understood nothing of the French revolution and its meaning on a sociological level. They have no idea what real liberalism is, that even socialism and anarchism are liberal progressive ideas born in the French revolution. They're a bunch of depraved and pervert conservatives, I'm sick of them. LOL
@Loveleenkr feel free to throw the lols baby
In reggae mood
Chinese people are cheap. Like real cheap. Like real, real, real cheap! I should know!
What do cheap people do? They save.
The Chinese housing bubble is just Chinese savings.
It is not a bad idea, it seems to have gone too far.
Then again, the demand will always be there, because Chinese people are cheap, Chinese will save, Chinese people will put their savings into real estate.
China’s trade prowess shrugs off West’s cliché 'threat theory;' hype can’t deny China’s contributions in global supply chain
By GT staff reporters Published: Aug 23, 2022 11:44 PM
One thing even anti-China Western officials and media outlets cannot ignore is that China's position as the bellwether of global industrial chains is not weakened, but has rather been strengthened in the past three years, reflected by China's rising share of global goods exports, especially products with high added values.
The WSJ report, for example, noted that China's share of global goods exports by value increased to 15 percent by the end of 2021 from 13 percent in 2019. In comparison, Germany's share fell from 7.8 percent to 7.3 percent during the period, while US' share slipped to 7.9 percent from 8.6 percent.
China's official data also showed that the country's exports recorded positive growth in 2020 and 2021 despite a series of challenges posed by the pandemic, US crackdowns and conflict in Europe. In 2020 and 2021, China's exports rose by 3.6 percent and 29.9 percent in US dollar terms, Chinese customs data showed.
In addition to robust growth in traditional Chinese exports such as manufactured goods, many high-tech products also saw rising exports in value in the past several years. For example, China's exports of integrated circuit products rose 32 percent in 2021 and 14.8 percent in 2020, according to the customs data. Imports also gained a rising trend. In the first seven months this year, China's imports rose 5.3 percent in US dollar terms.
Electric cars are also a good example. According to data revealed by Cui Dongshu, secretary general of the China Passenger Car Association, China exported 440,000 new-energy vehicles in the first seven months this year, compared with 588,000 in the whole year of 2021 and 223,000 in 2020, media reports showed.
Behind the steady rise of China's exports sector during the pandemic are various specific advantages of the Chinese system, analysts noted.
Qiu Wenxu, director of Industry Development Department at the Alliance of Belt and Road Business Schools, said that China's system of handling the coronavirus has given Chinese companies "comparable advantages during a special time."
"China's institutional advantages have enabled factories to remain stable production abilities, and China's reputation as world factory is gained through tests from the global markets," he told the Global Times.
Hu also noted that the coronavirus is a touchstone for global industrial chains, and China has survived the tests for its ability to maintain supply chain safety from external disasters, while many advanced economies such as the US faltered profoundly.
"In the past, many companies thought they could move supply chains away from China, but after the coronavirus crisis, they start to realize that they need to at least preserve some spare production capacity in China, because China is very likely to be the only market to withstand major sudden supply chain risks," Hu noted.
See link for rest of the article.
WRONG, WRONG and WRONG !
It is China's Zero Covid Policy that bolsters China's position as the world's manufacturer.