Chinese Economics Thread
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Deleted member 23272
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VW has enough sincerity, I'll give them that. Much better than especially Japanese brands. I hope they don't get completely decimated by BYD.
I realised how stupid GDP is after the US "grew" a couple trillion in 2021 and 2022 despite 0 growth and doing nothing except inflating.
IMF is predicting 5.2% growth for China in 2023. That is well below even the most credible pessimistic estimate. China will cross 20 trillion GDP this year.
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Deleted member 23272
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Their number for China this year is 19 trillion, while the US is somehow going to get to 26 trillion despite only growing 1%. In 2020, they had China's economy only being 1 trillion smaller than the US's by 2028, back when the Yuan was still 6 to a dollar. Plus for the some reason the IMF for the past two years calculated Iran as having a 1 trillion dollar GDP while only sitting at 300 billion for this year's revisions.
It's all such BS, the US is on a statistic sugar high thanks to inflation. Can't wait for the real numbers once everything settles down.
China cuts US Treasury holdings in Feb to near 13-year low, raises economic security
By GT staff reporters Published: Apr 18, 2023 06:32 PM
A teller counts U.S. dollar bills at a bank in Qionghai, south China's Hainan Province.Photo:Xinhua
China further reduced its holdings of US Treasury debt in February to the lowest level in nearly 13 years, as other foreign holders cut their holdings by 4.7 percent year-on-year to $7.34 trillion, data from the US Treasury Department showed.
Experts noted that the Chinese mainland's cut aims to further diversify its allocation of foreign exchange reserves, which is conducive to bolstering economic security amid external risks.
In February, total foreign holdings of US Treasury debt stood at $7.34 trillion, down from $7.4 trillion in January, while lower than $7.7 trillion in February 2022, per data from the US Treasury Department released on Monday local time.
Chinese mainland's holdings fell to $848.8 billion in February from $859.4 billion in January. The figure stood at $1.03 trillion at the same time last year.
Japan, the largest foreign holder of US Treasury debt, cut its holdings in February to $1.09 trillion from $1.1 trillion a month earlier.
Some foreign holders, including China, have been diversifying their foreign exchange reserves, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Tuesday.
Wang Youxin, a researcher with the Institute of International Finance at the Bank of China, said earlier that a more diversified allocation of foreign exchange reserves is conducive to enhancing national economic and financial security amid intensifying geopolitical competition, per a report from chinanews.com.
Experts also highlighted the strengthened internationalization of the yuan and the increasing application scenarios for yuan-based settlement as other reasons for China's continuous reduction in holdings amid the global de-dollarization trend.
China has been promoting the internationalization of the yuan, aiming to use it for more foreign economic activity instead of the US dollar, and the yuan's global role is already increasing, Xi added.
The yuan has become a relatively stable currency for global investors while China remains a top investment destination, Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology, told the Global Times on Tuesday.
Last week, China's Industrial and Commercial Bank of China processed the first cross-border yuan settlement in at its local branch. The nation also completed first purchase of sourced from the United Arab Emirates using cross-border yuan settlement.
antiterror13
Brigadier
And some people would say how come every year added the GDP the size of Netherland but can't make EUV machine which Netherland can ... well only country can currently. The US can't make even any DUV machine, let alone DUVi or EUV
How many country can singlehandedly make DUV immersion? Only China. And no Japan cannot either.
antiterror13
Brigadier
You think Japan can make it completely from mineral processing to technology to end product? I am talking about on a national level because no single company can do it. Zero.
Let me rephrase it. If Japan is under sanction like China, can they still pull it off? If they rely on foriegn support they cannot qualify the condition.
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