Chinese Economics Thread
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The Chinese economy is experiencing deflation. If anything the Chinese government should be either lowering rates or printing more money. I think they should just print more money and use that to finance China's move towards economic self-reliance. Because you know the sanctions hammer is going to hit hard sooner or later. The US will just come up with some excuse to do it. Time to plug any missing links in the supply chain. And if this lowers the value of the Yuan, then so be it, that will just make Chinese labor more competitive on the world stage. If the goal is to prevent capital flight, the creation of alternative safe havens for capital which aren't as deflationary, such as allowing people to buy either physical gold or gold certificates, and other such instruments should be more than enough.
It is reported that, in March 2023, the combined online capacity of hydro, solar and wind has reached 1.33 billion kw in China. For the first time in China, more than 50%, 50.5% to be precise, of the total power capacity are from non-fossile sources.
据长江日报7月6日报道，“双碳”目标下，我国风电、太阳能发电装机量快速增长。中电联规划发展部副主任张晶杰介绍，截至2023年3月底，我国并网发电的风电、太阳能发电、水电的装机容量分别为3.76亿千瓦、4.3亿千瓦、4.2亿千瓦，我国全口径非化石能源发电装机容量达13.3亿千瓦，占我国总装机容量的比重为50.5%，首次超过50%。
据长江日报7月6日报道，“双碳”目标下，我国风电、太阳能发电装机量快速增长。中电联规划发展部副主任张晶杰介绍，截至2023年3月底，我国并网发电的风电、太阳能发电、水电的装机容量分别为3.76亿千瓦、4.3亿千瓦、4.2亿千瓦，我国全口径非化石能源发电装机容量达13.3亿千瓦，占我国总装机容量的比重为50.5%，首次超过50%。
Full sanctions, at least as much as America can afford, has already hit. I don't think China is too worried.
I think China was testing the waters with the sanctions on Micron and when America didn't manage any major retaliation, it confirmed suspicion that they don't have leverage left, paving the way for the more wide ranging sanctions installed this month.
Right now, Central Bank need to push down currency value as much as reasonably possible, it would allow China to get a solid foothold with automobiles and semiconductors internationally. If most of the world is driving Chinese cars and using Chinese graphic cards, it will usher in a new level of international dominance.
How come China's total internet users is just 1 billion, just 73% of the population. When even India which 5 times lower GDP per capita has 850 million users of internet. Why is China's internet penetration so low. Even Russia's rate is 88%.
Does that mean a huge percentage of Chinese do not have smartphone with internet? This is a very disappointing figure. This rate should be above 90%
Call me a sceptic, Do you believed with 40% ( on the conservative side) of its population living in abjent poverty, that India can produce such numbers or they used a different mathematical procedure like their famous Vedic method.
I don't think India's figure is fake. In this age, no one buys a phone that is not android. Even if its just $100, you can get android phone. And with android you get internet and apps. So, its a no brainer that even beggers have internet these days.
The thing I don't understand is China's low percentage of internet users. Something is wrong with China's internet infrastracture that is making it too expensive or somehow less accessible to the poorest of Chinese.
Nothing personal bro, but anything coming from India I take it with a shitload of salt.
And we're talking internet user not cellphone user, how many of them are able to read and write let alone know how to use an electronic device.
Plus the necessary infrastructure isn't there to support that number with associated cost that the user can afford.
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According to statista, India only has 690 million internet users...? And even that is just India's own statistics.
It seems like the way China registers Internet use is through if someone uses social media (any social media that requires phone number signup?). I'd imagine that a fair bit of people, especially less tech savvy ones in rural areas, don't engage in social media, but have phones for practical purposes.