For China to truly internatinalize Renmibi without sacrifice its control, China must not only keep but expand its industry in all their fronts baring some very primitive low value sectors. When people have no choice but buying Chinese goods, using Chinese softwares and e-commerce, the Renminbi will be king and CCP can dictate it at will, especially when no other countries can compete with China in any front.
Chinese Economics Thread
- Thread starter Norfolk
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I thought this article was ridiculous. I really do.
One problem is that they are clueless of what is going on, with the trade volume between the two countries at a record level, and that China's trade with the rest of the world is expanding rapidly. The word contain means to restrict. They obviously do not know what the word contain means, when the Chinese economy keeps on expanding, which in turn fuels more trade growth, which in turn keeps the Chinese economy expanding.
The other problem, regarding technology, was that the two sides, China and the United States, were never coupled to begin with. 10 to 20 years ago, the tech gap between the two was way too wide. A coupling was a pipe dream. The only coupling that could exist, is the Chinese would pay the Americans to license their IP. Since the Chinese develop their own, (see Huawei), there is no coupling of tech there. The coupling, where they assume US tech is vital to Chinese growth, is simply a crock. Does not exist.
The technological relationship between the United States and China, is solely a commercial relationship today. If one side cannot buy something from the other side, then they will go buy it somewhere else. But the Western media makes that sound impossible. That is a total crock.
The proof is in the Chinese GDP figures. The only thing that held China economy back was covid. Not some tariff or ban.
If there is a real cold war between China and the United States, then like so what?
The Chinese economy will keep on growing, pushing it past the American economy, making China a high income nation. China will continue to develop a full spectrum technological eco-system in everything.
If this is the idea behind this cold war, China should applaud!
To put it another about that article from that reputable political site, we just use an expression from sports.
The game is played on the ice, and not on paper.
That was the major problem of that article. They discussed how the game will be played, and who had the advantages, when the other side is rarely mentioned.
Imagine a game, where one side knows nothing about the players on the other side. We see that sometimes. They get smoked!
China is always made out to be the ultimate straw-man.
But I guess that is the point, eh?
The straw-man should always get beat and lose the game.
US is a civilization as well.
The main problem they have is that China is an EU sized country but unlike EU they are internally well coordinated and lack significant corruption.
Were China alone, the collective west could equal it in population, economy and overall power, but China isn't alone and it can throw all these random so called global south countries at the west to completely distract them. And besides, the collective west isn't able to achieve a level of cohesion comparable to China.
The final problem of the West is the structure of their economies. On paper, US + EU will have slightly higher gdp than China. But a lot of this gdp comes from non productive sectors, in many cases they even come from sectors that do not benefit living quality of the average citizen.
Ability to build goods trumps everything. The Qing Empire had higher gdp than the British Empire and likely even higher gdp per capita, but the British empire was built on steam factories and steelworks, mass slavery in Africa and the Raj working in fields and mines, while Qing was built on controlling silver trade in Asia and royalties other nations had to pay them for trade.
It's not the article itself that is ridiculous but the views of the US administration it seems you are saying. I thought the article was interesting for the insight it gave into those views.I thought this article was ridiculous. I really do.
One problem is that they are clueless of what is going on, with the trade volume between the two countries at a record level, and that China's trade with the rest of the world is expanding rapidly. The word contain means to restrict. They obviously do not know what the word contain means, when the Chinese economy keeps on expanding, which in turn fuels more trade growth, which in turn keeps the Chinese economy expanding.
The other problem, regarding technology, was that the two sides, China and the United States, were never coupled to begin with. 10 to 20 years ago, the tech gap between the two was way too wide. A coupling was a pipe dream. The only coupling that could exist, is the Chinese would pay the Americans to license their IP. Since the Chinese develop their own, (see Huawei), there is no coupling of tech there. The coupling, where they assume US tech is vital to Chinese growth, is simply a crock. Does not exist.
The technological relationship between the United States and China, is solely a commercial relationship today. If one side cannot buy something from the other side, then they will go buy it somewhere else. But the Western media makes that sound impossible. That is a total crock.
The proof is in the Chinese GDP figures. The only thing that held China economy back was covid. Not some tariff or ban.
If there is a real cold war between China and the United States, then like so what?
The Chinese economy will keep on growing, pushing it past the American economy, making China a high income nation. China will continue to develop a full spectrum technological eco-system in everything.
If this is the idea behind this cold war, China should applaud!
Good points, except that i'd disagree that the US is a civilisation; the US is a wannabe Roman Empire within Western Civilisation or more accurately a wannabe Tang dynasty whilst being a member of western civilisation. The Anglosphere which the US leads has only truly had a distinct 'culture' since the Elizabethan era; prior English royalty would have been more identifiably Norman French than Anglo.
This conflict/cold war against China is therefore framed as a 'all of society' Civilisational war as Kiron Skinner put it, because the US/Five Eyes desperately needs the rest of Europe to fight its civilisational war against China. Anglo geostrategy since the British Empire consists of divide and rule, given their relatively smaller population and high investment in technology, and using useful idiot nations to weaken their enemies, as the British Empire did in aiding the Greeks against the Ottomons and the Finns against the Tsars and later the Soviets.
Economically, and this betrays the lack of imagination of US leaders, but the USG geoeconomic strategy is to try to place themselves as the "China" of the Western world, by compelling western factories to relocate to the continental US, but at the same time maintaining a strong USD. Naturally, these two strategies conflict and which is why i believe this policy is doomed to failure.
Unless of course, it is US geostrategy to destroy the US Dollar as the reserve currency and replace it with a CBDC.