Chinese Economics Thread

[luosifen]

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2023-07-21 13:33:13Ecns.cn Editor : Zhang Dongfang

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(ECNS) -- China’s Ministry of Commerce (MOC) announced on Friday to launch an anti-dumping investigation into imported propanoic acid originating in the U.S. starting from July 21, 2023.
The MOC received an application for an anti-dumping investigation submitted by Jiangsu Chemical Industry Association on behalf of the Chinese chemical industry on May 23, 2023, requiring the MOC to probe into the imported propanoic acid originating in the U.S.
Propanoic acid is an important fine chemical product and organic synthetic raw material, which is mainly used for production of preservatives, fungicides, herbicides, pharmaceutical intermediates and so on, and is widely used in food, feed, pesticides, medicine and other fields.
China is one of the major consumers of propanoic acid across the world, with a growing trend for more supply in these years. Official data shows that China also imports all propanoic acid from the U.S. and since 2019, the imported chemical material originating in the U.S. has accounted for about 30 percent of the Chinese market on average.

 

[Stierlitz]

• International investment firms have changed their China GDP forecasts nearly every month so far this year, with JPMorgan making six adjustments since January.
• That’s according to CNBC analysis of the firms’ notes.
• The average prediction among six firms studied by CNBC now stands at 5.1%, close to the “around 5%” target Beijing announced in March.

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[Maikeru]

• International investment firms have changed their China GDP forecasts nearly every month so far this year, with JPMorgan making six adjustments since January.
• That’s according to CNBC analysis of the firms’ notes.
• The average prediction among six firms studied by CNBC now stands at 5.1%, close to the “around 5%” target Beijing announced in March.

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“Overall, there is a case emerging for a cyclical rebound in China’s economy in early 2024, even without any meaningful policy support in the second half of 2023,” the Rhodium analysts said.

They said that given four quarters, a steady household consumption recovery should help boost service sector employment, while industrial inventories will likely need restocking down the road.

Putting a decimal point in a GDP growth prediction is an economist's way of showing they have a sense of humour.

 

[N00813]

A Western report on the "Chinese mittelstand" / single champions and little giants strategy for building up expertise in upstream industry:

Liu Zhibiao, executive director of the Yangtze River Delta Economic Development Research Center at Nanjing
University, underscores this reality, arguing that transforming China into a manufacturing superpower that is
resilient to exogenous shocks must necessarily require rethinking the classical economic logic of comparative
advantage. He writes:
"To extend the industrial chain upward and cultivate ‘single champions’ in [global value chains], we need
to actively abandon certain economic theories of the past, such as not implementing the so-called ‘play
up strengths and avoid weaknesses’ strategy guided by the theory of static comparative advantage, and
giving up on catching up or investing in certain upstream segments of [global value chains] that are
highly knowledge- and technology- intensive. Instead, we should be guided by the theory of dynamic
competitive advantage, implement the strategy of ‘building on our strengths to make up for our
weaknesses’, and make every effort to widen development bottlenecks."

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[resistance]

For anyone who think India, Indonesia or Vietnam will progress like china, cheap labor era is almost at the end.

https://twitter.com/i/web/status/1684899486156648448

Nothing to care about relation with India.

 

[ansy1968]

For anyone who think India, Indonesia or Vietnam will progress like china, cheap labor era is almost at the end.

https://twitter.com/i/web/status/1684899486156648448

Nothing to care about relation with India.

Sorry bro, there is always a place for Indians in Convenience store business just ask Apu.

 

[tygyg1111]

Sorry bro, there is always a place for Indians in Convenience store business just ask Apu.

For the record, Apu was actually removed as a character. Certain people complained that the portrayal was too accurate

 

[sunnymaxi]

For anyone who think India, Indonesia or Vietnam will progress like china, cheap labor era is almost at the end.

https://twitter.com/i/web/status/1684899486156648448

Nothing to care about relation with India.

China is the last Major manufacturer of the world. globalization has been dead. unless we have change or adopt totally new system no other global south country could become first world country. only China is exception.

even mainstream media openly admitted now.

PRC is the only Global South country to have made non-trivial progress in converging with the West/US..

 

[resistance]

China is the last Major manufacturer of the world. globalization has been dead. unless we have change or adopt totally new system no other global south country could become first world country. only China is exception.

even mainstream media openly admitted now.

PRC is the only Global South country to have made non-trivial progress in converging with the West/US..

View attachment 116545

Because of automation, the best manufacturing will be good infrastructure and cheap energy. Cheap labour will become more irrelevant factor for consideration

 

[Maikeru]

Big day tomorrow:

https://twitter.com/i/web/status/1685657747801690112