We are reaching previously unfathomable levels of salt and cope.
We are reaching previously unfathomable levels of salt and cope.
Crazy how many westerners still believe Reuters is an unbiased source
We are reaching previously unfathomable levels of salt and cope.
The end is definitely near... the faster you grow, the harder you fall! Take that China!
View attachment 112308
Is this accurate, Japan only grew 6%?The end is definitely near... the faster you grow, the harder you fall! Take that China!
View attachment 112308
Japan's GDP in USD in 1995 was 5.5 trillions. Today, it is just less than 5 trillions. Japan doesn't have a lost decade but it has lost 3 decades.Is this accurate, Japan only grew 6%?
This is a very illuminating graph.We've heard a lot about how Xi has supposedly retreated from market reform that Deng pioneered. This has become a mantra in the Western media. But what's reality?
View attachment 112313
If private firms were squeezed out, then you would see it in the data. But you don't. In fact, as a share of exports, the SOE sector has been steadily been trending down. Xi did not change this trendline.
To be fair, most Chinese SOEs are active in domestic sectors with little export exposure. A good example would be telecom. But there's no reason why allowing private players there is any good. Low productivity sectors like telecom are natural targets for rent seekers in the West. Just look at absurd telecom prices in countries like the US, Canada or Australia. It's understandable why these Western firms would want to recreate that in China and why they are whining to their governments about lack of access.
What the data also shows is that domestic Chinese private firms have begun to take a greater and greater chunk of the export. 10-15 years ago, foreign firms dominated the non-state share of exports. Domestic firms have moved up the value chain. I suspect this is another reason for resentment.
Just brutal. Statistics and numbers like this are simply too brutal for most westerners to handle.We've heard a lot about how Xi has supposedly retreated from market reform that Deng pioneered. This has become a mantra in the Western media. But what's reality?
View attachment 112313
If private firms were squeezed out, then you would see it in the data. But you don't. In fact, as a share of exports, the SOE sector has been steadily been trending down. Xi did not change this trendline.
To be fair, most Chinese SOEs are active in domestic sectors with little export exposure. A good example would be telecom. But there's no reason why allowing private players there is any good. Low productivity sectors like telecom are natural targets for rent seekers in the West. Just look at absurd telecom prices in countries like the US, Canada or Australia. It's understandable why these Western firms would want to recreate that in China and why they are whining to their governments about lack of access.
What the data also shows is that domestic Chinese private firms have begun to take a greater and greater chunk of the export. 10-15 years ago, foreign firms dominated the non-state share of exports. Domestic firms have moved up the value chain. I suspect this is another reason for resentment.