Chinese Economics Thread
- Thread starter Norfolk
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Almost 5,000 Chinese listed companies in Shanghai, Shenzhen, Beijing have released their earnings. For the last 6 months, 53% posted a net profit decline. That’s almost as bad as 2020 during the initial outbreak when 54% saw net profit drops.
Most attribute the declines to the property debt crisis and the restriction in mobility from Zero Covid.
Most attribute the declines to the property debt crisis and the restriction in mobility from Zero Covid.
Good data.
However I think that September's data won't be as good
Zero Covid now making this year's GDP growth only 2-3%. The CCP planned for 5% or more. The more the policy fails, the more its supporters approve of it. Pretty hilarious.
I no longer think ZC will be removed next year. I suspect it will be kept on due to popular support. Well, who am I to judge? If China wants this, let them have it. They will have to bear the consequences of much lower growth. The national security implication it carries are significant: convergence with the US will take much longer than we all thought a few years ago.
Not that blind ZC supporters in this forum seem to care.
How much of economic slowdown can be attributed to zero Covid vs simply due to sharp recession among Western economies since the Ukraine war?
Zero Covid now making this year's GDP growth only 2-3%. The CCP planned for 5% or more. The more the policy fails, the more its supporters approve of it. Pretty hilarious.
I no longer think ZC will be removed next year. I suspect it will be kept on due to popular support. Well, who am I to judge? If China wants this, let them have it. They will have to bear the consequences of much lower growth. The national security implication it carries are significant: convergence with the US will take much longer than we all thought a few years ago.
Not that blind ZC supporters in this forum seem to care.
For better or worse, China still shares the same globe as US and EU. A recession there will also cause ripples over to China.
As long as its rivals are falling faster, very high growth should maybe seen as a luxury rather than a necessity. Keeping inflation under control is more important than raising gdp.
It is only a warning sign if US grows and China doesn't. As long as they're in recession, convergence is impossible, even if China doesn't grow.
Cope.
The Chinese trade surplus (foreign demand) is the only thing keeping GDP positive.
by the end of this year, you will see in this trying time, one major economy that's still in growth (COVID-FREE too) and perhaps another still breathing and well despite being "sanctioned" to hell. with the rest majority of the counties on this punny planet drowning in inflation
Zero Covid now making this year's GDP growth only 2-3%. The CCP planned for 5% or more. The more the policy fails, the more its supporters approve of it. Pretty hilarious.
I no longer think ZC will be removed next year. I suspect it will be kept on due to popular support. Well, who am I to judge? If China wants this, let them have it. They will have to bear the consequences of much lower growth. The national security implication it carries are significant: convergence with the US will take much longer than we all thought a few years ago.
Not that blind ZC supporters in this forum seem to care.
They have reason to do it, HongKong get 1 monkeypox case.
So according to you, its all because of 0 Covid and nothing can be attributed to 20% inflation and recession in a ton of economies?
If so, which other major economy right now is experiencing 5% growth because of having no Covid prevention measures?
This economic thread has been hijacked by drones and covids.