Chinese Economics Thread

[FairAndUnbiased]

And the entire conceptual framework they used was created by a German man.



I get these knee jerk reactions every time I acknowledge or even imply that China has made use of something foreign in the course of its development, whether technological or ideological, and it's really starting to get on my nerves.
Literally every developed country except for Britain made its start by importing and absorbing foreign technology and managerial knowledge, including the likes of Germany Japan, and the United states. It's a fact of development, there's nothing shameful about it. In fact it should be a point of pride for China that it has done this at a speed and scale far greater than anybody else.

But I guess accepting that China has made heavy use of foreign technology and political thought in the course of its development would infringe on the idea of it being supernaturally different, of not being subject to the same developmental constraints as literally everybody else, of having magically reinvented 200 years worth of technological progress in the span of 40 without any reverse engineering.

By that logic US imported Greek ideology as Britain only had divine right of kings as their native ideology.

China had only absolute monarchy as its ideology so anything that wasn't absolute monarchy was imported. ROC imported German ideology too, just that of Imperial Germany.

 

[2handedswordsman]

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.

Marx and Engels many times spoke about the human genus (common origin and bloodline), so you can perceive that his brainchild belongs to humanity not only to Germany. This apply to the the liberals too about the French revolution and the abolition of the King, and feudalism for the second time of the history of mankind(the first was before Kings and feudalism invented by humans). Liberalism and "individual freedom" belongs to humanity not only France.

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.

No, China is definately not nazi. Nazi were the Japanese Empire, Chinese collaborators and some factions of KMT a Marxist state is by default antifascist, genders and races enjoy equal rights, and so on. Many quality differences of a Liberal Democracy and a Marxist state

 

[Deleted member 24525]

Marx and Engels many times spoke about the human genus (common origin and bloodline), so you can perceive that his brainchild belongs to humanity not only to Germany.

And I agree with him Im just working on the logic of nationalism here to prove a point

 

[2handedswordsman]

China's founding ideology was written by Mao Zedong, Zhou Enlai and Liu Shaoqi. I was not aware that they were foreigners.

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Of course China is going it's way. Marx gave the "slogans" for some good people and inspired the masses to change the course of the country. Marx only described how capitalist and subsequently human exploitation works. Both economically and socially. The way is to be paved both nationally and globally. This matches to the B&R initiative for example. Anyway

 

[KYli]

i don't think that is a short term problem. This exact youth unemployment rate indicates two facts. One is that the low skilled jobs are declining because of the massive implementation of automation and the second is that there is the massive number of high educated youth jobseekers which because of the high antagonism need to proceed to post docs, master degrees etc. Both two, soon will force to tackle a classic Marxist theme, the re-calculation, adoptation of the average socially necessary working time. Is the classic 8 hour shift up to date of the present social needs? Neoliberals answered this question by deformalising and destructing labour rights in favour of course of the capitalist. Because of the combination of high salary and high productivity the boss can tell you"i don't care about your ultra skills, i need you for 4 hours". You can see these phenomena in the emerging in the West where precarious jobs, high unemployment(not only youths), future insecurity is the main trend. A whole generation of youth sharing -without being a family- an insanely overpriced rented house, or staying with parents till 30-40's is being formed in Europe. American dream is already past and will be never back. As PRC economy is getting mature the great question emerges too. Will PRC sacrifice it's majority of people to favor a few individuals? If CPC remains firm Communist, the answer is obvious. But we will just wait and see because humans are humans

I don't dispute that there are a lot of issues in China. Automation and ultra competitive job market would force many changes. However, Japan doesn't have much of youth unemployment but they do have overqualified problem. Japan's aging society is the reason why many job vacancy that couldn't be filled and some young Japanese would fill some of them if they couldn't find a decent jobs.

Similarly, Hong Kong is having shortages of qualified workers in many industries. In a few months, Hong Kong would attempt to import tens of thousands of labors from China to fill many job vacancy. The problem is many jobs such as bus drivers, taxi drivers, construction jobs, cashiers, cleaners, and airport workers don't attract workers. Average age of bus drivers, taxi drivers are at the retirement age. Eventually, hundreds of thousands of jobs would be offered to mainland Chinese from Hong Kong.

That's why I think after aging issue in Shanghai, Beijing and Guangzhou follow the foot step of Hong Kong. Many job vacancy would be available to young people that are willing to take up not office jobs. It is the reason why China is advocating for many youngsters to attend technical schools instead of liberal arts majors in 4 years college that could never find jobs.

 

[2handedswordsman]

I don't dispute that there are a lot of issues in China. Automation and ultra competitive job market would force many changes. However, Japan doesn't have much of youth unemployment but they do have overqualified problem. Japan's aging society is the reason why many job vacancy that couldn't be filled and some young Japanese would fill some of them if they couldn't find a decent jobs.

Japan reached to that state first of all countries. They peaked their productivity ultra fast and now many years stagnating because inefficient politics. Japan is a "constitutional monarchy", run by mafia in cooperation with USA. Wake up Japan!

 

[BoraTas]

China youth unemployment would peak on July and go down until Dec. Expect two more months of nonstop coverage from the West and liberals in China talking about doom and gloom of China.

I am more interested in how much youth unemployment would go down between August and December. It would be an indicator of the strengthen of the Chinese economy and if a further and stronger stimulus is needed to jump start the recovery or not.

I lived this over and over again. Nowadays whenever a collapse of China story emerges, I am like "let's look at this 6 months later". For example what happened to the Chinese lEhMAn mOmEnt?

 

[coolgod]

Try again, 王明远

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is a researcher at a think tank and he used to work at 中国经济体制改革研究会 which is a subordinate organization to the NDRC.


I specifically said "a problem in the future", not a "sign of weakness". How difficult is it for you to delineate the difference?

Look, the point here is simple, nothing you've said addressed why the unemployment rate for 16-24 YO population doubled in 3-4 years.

The best source to support your youth unemployment figure is a blog post from some mid-30s person who writes for CaiXin and has worked for an indeterminate amount of time for an economic thinktank that is subordinate to NDRC?

Holy ****, the stock advices on Chinese TV are more trustworthy than that. Is this what 公知 are resorting to now? Even I can find better sources from distinguished PKU professors who advocates for neoliberal economic policies while concern trolling about China's youth employment figures.

 

[KYli]

JD sales rebound in the second quarter after marketing and incentives.

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[Deleted member 24525]

There is a credible argument here that @Eventine made (see below) that there is an increasing skills mismatch in the labour force between demand/supply of workers. This, while not a sign of economic weakness, is still a problem that needs to be dealt with.

I understand that but we're talking about youth who overwhelmingly have not completed their education and training here. These are late highschool and college kids not 50+ year old migrant workers.