Lethe
Captain
The moment that China's GDP in USD surpasses that of the United States is the same moment wherein it will become accepted wisdom in the west that GDP is an antiquated measure of no relevance to anything.
Chinese Economics Thread
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The moment that China's GDP in USD surpasses that of the United States is the same moment wherein it will become accepted wisdom in the west that GDP is an antiquated measure of no relevance to anything.
Another industry that is almost completely missed out by the West. Chinese companies are build very large ESS as part of various Energy products. A lot of this is from energy storage division of large wind/solar energy providers. It is a very large and growing market, but competition is very fierce and should lead to very strong companies coming out of this.
Notice how BYD is among the slowest growing of these companies and still grew by 200 to 300%
In February, bids went up for another 6.74GWh of ESS.
Going forward and as renewable energy continue to increase, I see Chinese firms really taking over this market internationally as this is a less politically focused area than EVs.
Notice how BYD is among the slowest growing of these companies and still grew by 200 to 300%
In February, bids went up for another 6.74GWh of ESS.
Going forward and as renewable energy continue to increase, I see Chinese firms really taking over this market internationally as this is a less politically focused area than EVs.
already happened, and the main angles of cope from America is that:
1. ""the west"" still has a larger economy together than China.
2. China's economy is "slowing", nevermind the fact that even if China was permanently flagging at 3% a year, they'll still forever have a larger economy than US growing at Biden rates.
3. US has higher GDP per capita and higher *insert* fake glowie stat to measure "happiness" or "human development". Despite all these fantastic supposed human developments and the supposed high rates of pollution in China (counted based on weather phenomena like dust storms), US has a worse life expectancy than China even if China has 4x the population...
How having many billionaires to drag up GDP per capita is supposed to mean their middle class has it better than those in China is never explained by America...
4. Ostrich approach, pretend China doesn't exist and focus on how NATO has a much better economy than Russia.
China doesn't need to focus on GDP to surpass the US though because it already surpassed the USA. Nominal numbers don't mean much because they "grow" with the USD inflation which means that it does not indicate real economic strength.
After signing MOU in December, the Egyptians have now officially announced CEEC will build a $5.1B green hydrogen plant for them so that they can export some of that 140k t green H2 to Europe! Given the emphasis that Europeans have put on Green H2 to decarbonise and lack of available land for solar panels and wind turbines, it makes a lot of sense for Arab nations with large amount of desert land like Egypt, Saudi Arabia, Algeria and Libya to work with China to setup massive solar/wind farms and then produce green H2 for that. This has to be the MENA play for future economy when hydrocarbons are no longer being purchased by European countries.
Massive market for Chinese technology.
This week is the Hydrogen conference in China. Starting on Thursday, I would love to see if they have made some updated plans on Hydrogen & electrolysis production.
Massive market for Chinese technology.
This week is the Hydrogen conference in China. Starting on Thursday, I would love to see if they have made some updated plans on Hydrogen & electrolysis production.
I doubt it, it's not going to stop China from being on the receiving end of chip curbs from the US and implemented by its allies.
So they are actually competing against China by exporting clean H2? As they learn the technology from China, they will then mass produce clean H2, displacing China's factories.
Nah, China will have hard enough time producing enough clean H2 for itself. Are you actually concerned that Egyptians will be able to surpass China in technology? lol.
I will tell you this. I will not even be concerned with them licensing technology to Europeans, because China will be so far ahead and its production costs will be so much lower.
Chinese companies plan to ramp up hiring in the coming year as the economy rebounds and operations return to normal following the end of Covid restrictions.
The net balance measuring whether Chinese firms project an increase in headcount over the next 12 months was 11% in February, the highest level in eight years.
