Chinese Economics Thread

[abenomics12345]

you only have to be better than others. good is relative.

when the other side has their youth slaving away at McDonalds or coal mines for minimum wage, while yours have the freedom to pursue their own interests, who is really winning?

This is literally the first response you had for '21% unemployment rate'. Your pathetic attempt to argue against this is literally to suggest: "I know I am but what are you?" in various ways and forms. Very convincing.

What facts? I included public data with my claims. In contrast I didn't see any links to public data from him.

He then claimed that his points are substantiated by classified or censored data that you can only get via WeChat from someone you know that's on the inside.

Chinese Economics Thread

https://www.thenationalnews.com/business/markets/2023/06/12/china-to-receive-up-to-2tn-in-middle-east-sovereign-investments-by-2030-hkex-ceo-says/ China to receive up to $2tn in Middle East sovereign investments by 2030, HKEX CEO says China, the world’s second-largest economy, is set to...

www.sinodefenceforum.com

The irony is he trusts the 20% unemployment rate, which is not classified or censored.

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Literally read what the experts in China are saying, and understand that you assembling together a series of slides/deck to confirmation-bias yourself into believing you are correct isn't going to change reality. By the way, *amazing* job comparing OECD unemployment rates without understanding that the definition of unemployment is not the same across countries. But of course, if you actually read the article above, you would've known that.

The increase in graduate enrollment is a reflection of the difficulty of getting a job after finishing undergraduate studies. And the irony is that you citing 'increased enrollment' in higher tier schooling as a strength, is actually a bigger problem in the future.

 

[sunnymaxi]

China is aiming to establish a quality and balanced basic public education system by 2027. By 2035

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aims to become one of the world's leading countries in terms of the quality and equity of compulsory education services, notified by Ministry of Education

 

[sunnymaxi]

The imports of consumer goods at

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ports reached RMB 326.1 bln in the first five months this year, up 17% YoY. Shanghai Customs said it had recovered to the level of the same period in 2021, accounting for more than 40% of total imports of consumer goods in the country..

 

[sunnymaxi]

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's

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revenue for the summer moviegoing period that began on June 1 has surpassed the RMB 1 bln mark, reaching the milestone in record time since the onset of the COVID-19 pandemic..

 

[sunnymaxi]

By 2025, Tianjin's annual total retail sales of consumer goods will exceed RMB 500 bln, and the city will record 300 mln domestic and overseas tourist visits each year. By 2027, its annual total retail sales of consumer goods will double its 2022 figure..

 

[Deleted member 24525]

This is literally the first response you had for '21% unemployment rate'. Your pathetic attempt to argue against this is literally to suggest: "I know I am but what are you?" in various ways and forms. Very convincing.

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Literally read what the experts in China are saying, and understand that you assembling together a series of slides/deck to confirmation-bias yourself into believing you are correct isn't going to change reality. By the way, *amazing* job comparing OECD unemployment rates without understanding that the definition of unemployment is not the same across countries. But of course, if you actually read the article above, you would've known that.

The increase in graduate enrollment is a reflection of the difficulty of getting a job after finishing undergraduate studies. And the irony is that you citing 'increased enrollment' in higher tier schooling as a strength, is actually a bigger problem in the future.

I think the main problem here is that the metric for youth unemployment as defined in China is just not really meaningful

https://twitter.com/i/web/status/1666045567040995331

 

[sunnymaxi]

I think the main problem here is that the metric for youth unemployment as defined in China is just not really meaningful

https://twitter.com/i/web/status/1666045567040995331

China is a very complex country. for an outsider its almost impossible to understand the ground reality. even official data from the government can't tell you the complete story.

on Chinese internet, you will find more negative information than positive news. White people will never understand the Chinese mindset.

 

[Deleted member 24525]

China is a very complex country. for an outsider its almost impossible to understand the ground reality. even official data from the government can't tell you the complete story.

on Chinese internet, you will find more negative information than positive news. White people will never understand the Chinese mindset.

You're talking about a state who's founding ideology was written by a foreigner. China is an incredible place with a long history but it's not magic. An outsider can come to understand it through diligent study over an extended period.

 

[FairAndUnbiased]

This is literally the first response you had for '21% unemployment rate'. Your pathetic attempt to argue against this is literally to suggest: "I know I am but what are you?" in various ways and forms. Very convincing.

Please, Log in or Register to view URLs content!

Literally read what the experts in China are saying, and understand that you assembling together a series of slides/deck to confirmation-bias yourself into believing you are correct isn't going to change reality. By the way, *amazing* job comparing OECD unemployment rates without understanding that the definition of unemployment is not the same across countries. But of course, if you actually read the article above, you would've known that.

The increase in graduate enrollment is a reflection of the difficulty of getting a job after finishing undergraduate studies. And the irony is that you citing 'increased enrollment' in higher tier schooling as a strength, is actually a bigger problem in the future.

The author 王明远 is not a subject matter expert in economics. He's a lawyer.

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He gives no public source for the data he cites.

He claims that $20 USD per day is sufficient for buying food in the US. This is technically true but doesn't include the cost of actually going to work.

The 20% unemployment number is 16-24, as stated by the non-SME author here:

4月份，我国16-24岁参加劳动力市场的人口共3220万左右，其中失业人员656万左右，占总数的20.4%。

This is consistent with the OECD youth unemployment demographic standards.

He makes a comparison to how fast jobs were being created in 2007.

比如，2007年我国新增就业岗位数是1204万，而当年各类毕业生总数为829万

Were the skill requirements and wages for jobs in 2007 the same as they are now? No. Wages have changed substantially since then and so has China's GDP, economic complexity, R&D profile, number of global Fortune 2000 companies, total global trade, number of patents, etc.

This is interesting. You say that increasing tertiary education and high youth unemployment is a sign of weakness.

Vietnam has a lower tertiary enrollment rate and youth unemployment than China.

Vietnam must be the stronger economy then if you ignore wages, purchasing power, R&D intensity, etc.

By that metric, a country of sweatshop laborers and tenant farmers who start working manual labor at age 15 that closed all their universities is ideal. its tertiary enrollment would be 0 and unemployment will be very low as well.

 

[sunnymaxi]

You're talking about a state who's founding ideology was written by a foreigner. China is an incredible place with a long history but it's not magic. An outsider can come to understand it through diligent study over an extended period.

wrong. LOL

China is communist only by name. they will always claim to be communist. No doubt about it. But it’s economy is practically national socialist.

White people will never understand the Chinese mindset. no matter what they do.