Chinese Economics Thread

[Deleted member 23272]

It's expected. When you have very high education and the name you find in textbooks are Newton, Einstein, Leibniz, Maxwell, Hawking, Bernoulli etc instead of Zu Chongzhi or Shen Kuo, you will have an impression that the west is very impressive and your country sucks. Textbooks should be rewritten to change this impression.

Um, textbooks all over China, regardless of where you're from, have those names. All over the global south textbooks are going to have those names because like it or not, as advanced as the Han, Tang, and Song dynasties were, the last 600 years of science and technology all belonged to the West. You can't progress unless you acknowledge your faults and learn from others, the Arabs after all became masters of science in the middle ages precisely because of their willingness to learn from the Ancient Greeks.

 

[Quan8410]

Um, textbooks all over China, regardless of where you're from, have those names. All over the global south textbooks are going to have those names because like it or not, as advanced as the Han, Tang, and Song dynasties were, the last 600 years of science and technology all belonged to the West. You can't progress unless you acknowledge your faults and learn from others, the Arabs after all became masters of science in the middle ages precisely because of their willingness to learn from the Ancient Greeks.

The problem is textbooks have mentioned so little of Chinese achievement. You can find Chinese middle-age science and tech not as backward as portrayed, which is clearly demonstrated by Joseph Needham's massive series of

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. China is now a world-leader in science and tech so they should take more pride in their ancient tech, it's a way to cultivate patriotism. Otherwise, people have an impression that oh Chinese sucks, they don't have Einstein, Newton etc

 

[Ash46]

they should take more pride in their ancient tech, it's a way to cultivate patriotism.

Lmao please no, we have india already for that

 

[FairAndUnbiased]

It's expected. When you have very high education and the name you find in textbooks are Newton, Einstein, Leibniz, Maxwell, Hawking, Bernoulli etc instead of Zu Chongzhi or Shen Kuo, you will have an impression that the west is very impressive and your country sucks. Textbooks should be rewritten to change this impression.

One example: Pascal triangle? No, Yang Hui triangle, predated Pascal by 500 years.

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The problem is that Chinese science in recent years is either too advanced for undergrad level or was only an independent discovery, not the first exclusive discovery. Not many need to learn Lee-Yang Theory for statistical physics. And even though Chinese independently discovered finite element analysis with Feng Kang, this wasn't the method used by the west which was found later.

 

[Lethe]

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The Australian government has reached a deal with China that may lead to the removal of tariffs on Australian barley that were introduced at the height of diplomatic tensions in 2020.

While the axing of the tariffs is not guaranteed, the Australian government presented the snap review as an important “pathway” to resolve one of the most complex trade disputes between the two countries.

The foreign affairs minister, Penny Wong, and the trade minister, Don Farrell, announced that China had “agreed to undertake an expedited review” of its tariffs on Australian barley over the next three months.

In return, Australia had agreed to temporarily suspend its challenge against the tariffs through the World Trade Organization dispute process.

China imposed punitive tariffs of more than 80% on Australian barley in 2020, arguing the move was needed to level the playing field because the sector gained subsidies and Australian barley was being “dumped” cheaply on the Chinese market.

Australia always rejected those claims and the previous Morrison government initiated a WTO challenge. The announcement on Tuesday appeared to be aimed at giving China an off-ramp to drop the tariffs without the risk of a formal ruling against the measures.

Wong, who is acting as prime minister while Anthony Albanese is on leave, said the government would resume the WTO dispute process if China did not remove the barley tariffs at the end of the three-month review period.

Farrell said the move was “a sign of goodwill” and reflected Australia’s desire to pursue discussions to “resolve our outstanding issues with China”.

As I suspect that Beijing adheres to Sir Humphrey Appleby's

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of only agreeing to a review when you know what its findings will be, I am pleased to see that dialogue between Beijing and Canberra continues to constructive ends.

 

[CMP]

WTO is toothless so there's no reason to bend. Hugely disappointing to see China cuck itself.

 

[KYli]

WTO has been sabotaged and intentionally handicapped by the US. However, China is still trying to uphold WTO rules and play along the game as it is in China's interest to become the new champion of free trade.

It is one of the reasons why China joins MPIA which allows WTO members to resolve disputes outside of WTO arbitration system. Basically, this new mechanism has made the US as a loner and form a new block that excludes the US. Isolating the US is always in China's interest. Having a new mechanism to resolve disputes with other WTO members is still beneficial for China.

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[paiemon]

WTO is toothless so there's no reason to bend. Hugely disappointing to see China cuck itself.

It is thanks to the US government, that's why other key trading countries have created the Multi-Party Interim Appeal Arbitration Arrangement so keep the gears of trade moving to their benefit of their economies. China is not cucking itself, it is entirely in the nation's interest as one of the largest trading countries in the world to have reliable mechanisms for managing trade, and disputes. You are not going to have many trade partners if you are constantly going rogue. Business thrives on predictable, consistent rules and clear mechanisms for arbitrating disagreements. Would you buy a car from a dealership without enforceable contracts, customer complaint resolution mechanism, consumer rights protection, etc? The same goes for businesses and governments in the world of trade. The world runs on rules, the question is what input/role is given in shaping/defining those rules.

 

[Lethe]

WTO is toothless so there's no reason to bend. Hugely disappointing to see China cuck itself.

Beijing is not going to lift import restrictions on Australian barley to avoid an adverse WTO finding, but because it assesses that doing so serves China's diplomatic, economic, and strategic interests, assessed holistically. Beijing does have some interest in avoiding adverse WTO rulings because, as @KYli says, China is trying to position itself as a champion of free trade against the increasingly protectionist impulses of the United States and other western countries. There is also the more abstract point that being seen to engage productively with international institutions undercuts the idea that China is a threat to the "rules-based order" and makes those pushing that narrative appear ever more shrill and self-serving.

 

[broadsword]

How much difference will it make? China is already importing more from Russia.