Chinese Economics Thread

[Bellum_Romanum]

Stephen Roach (former head of Morgan Stanley Asia) a professor/scholar at one of US elite universities just came out with another book titled



And he recently was a guest on the National Committee on US-China relations for a book interview discussing amongst many other things China. On this interview he explained and explicitly mentioned that ALL THE CHINA IP THEFT accusations (Just like MOST NOT ALL China accusations) are bunk and not grounded on any solid foundation of evidence, contrary to what most anti-China lunatics @tonyget love to push just like what our Indian friend @Overlord boldly asserted on his preceding posts.

The IP THEFT topic begins at 6:00 min mark of the video, but I invite folks here to take a watch, listen, assess what is a very good and objective discussion with respect to the Sino-American geopolitical Co-dependence contradicting the bullshit IDEOLOGICAL bent that @tonyget loves to peddle as gospel.

 

[Lethe]

According to Morgan Stanly, China will grow 5.4% in 2023, and that would be 10x faster than the U.S.

https://twitter.com/i/web/status/1605826399880765443

But all the western papers have been

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that the Japan Center for Economic Research (JCER) says that China's GDP won't surpass America's in the medium-term after all. Who to believe?

P.S. "Japan Center for Economic Research" is one of those aggressively generic names that sounds like a CIA front group. It also reminds me of Japan's "Institute for Cetacean Research" aka whale hunting.

 

[AssassinsMace]

What happened to all that talk in recently the West that the Chinese economic miracle is over...? I was listening to news on the radio in my car the other day talking about how China pulling Covid-19 restrictions back is big for the world economy. How can that be when Japan has had a deer-in-the-headlights economy for the last 30 years and since China doesn't embrace Western values like Japan does, it has to be going worse in China than Japan.

The omicron variant is the one that's dominate which they've been saying is milder but notice all the West's prediction models on deaths in China are the same as when original COVID-19 strain first started. And of course it was their modeling that said the US was going to be best in the world on handling a pandemic when they're still the worst to this day. On the US news when they're not thinking of their image in the world, they're talking about the worrying rise in COVID cases in hospitals when they claim to have the best vaccine in the world that they want China to buy.

 

[infinity_wor;d]

The more I look at India the more I think this is what USA is if they never had the legacy of early start in industrial revolution and had an actual strong neighbor kept them in check early.

Interestingly, in china, some video makers get the opposite idea: the US is becoming India lol.

 

[TK3600]

Interestingly, in china, some video makers get the opposite idea: the US is becoming India lol.

That is what I said. They are same in nature. Once they meet a same sized opponent and lose the industrial advantage they converge. The same lack of self reflection, aggression, yet constantly fail in such aggression due to lack of self reflection. American today are still smarter than Indians thanks to immigration. Once you remove all foriegner worker and migrants the nature of people are the same. Elites are still thankfully better due to strong higher education, but even that almost eroded away if you look at their policy. Imagine if US university fall to say Poland level (not even bad, just average). Then how many smart people would be left?

Why am I talking about this? China is avoiding this mistake. The elite still comes from people. It is unsustainable to let elite class carry the society. They will eventually corrupt and be replaced by up and coming middle elite ascended from middle class. If there lack a strong base to select from thr quality of elite will inevitably erode. China is pursuing better equality with poverty alleviation, and by building the economy from bottom it trickles up as opposed to American trickle down style. You will see Indian doing the same with caste system.

 

[sunnymaxi]

https://twitter.com/i/web/status/1607044255968595971

Russia's central bank is going to start buying Chinese yuan on the currency market, if oil and gas revenues meet expectations. Foreign exchange interventions will be in yuan, not US dollars..

The Chinese yuan's share of the Russian foreign exchange market jumped from 1% at the start of 2022 to 45% today

 

[tphuang]

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They are definitely try to move faster on de-dollarization. Shanghai FTZ is a great place for them to try out new ideas. It seems like they are getting less concerned with lifting the outbound flow of RMB. That's kind of interesting, but also a little risky. Maybe they see that as a smaller concern than the issue of getting sanctioned.

 

[sevrent]

de-dollarization globally is inevitable. China GDP will far surpass everyone in the future. Most countries will be buying Chinese goods and China will be the leader in innovation by far. No longer just "world's factory". USA is done for. They had a short run in the grand scheme of things. China is the future

 

[Jiang ZeminFanboy]

https://twitter.com/i/web/status/1607250097745850368

 

[tphuang]

They are expanding the usage of digitial Yuan around China. I think it's quite important that it can be used with WeChat, Alipay and QQ. Those are the apps that people use for everyday life in China. Alipay and wechat pay are enablers and helpers for e-Yuan and not competition. With e-currency support built in now on these apps, they should also be able to support other CBDCs in the future through their platform. China should encourage countries around them to launch their own digital currencies and for these apps to handle the transactions (like Alipay+ and its partner apps) and the forex transactions.