No No，you and I aren't the one who tells Chinese people what should or should not buy.
Do a survey on Chinese public，do they have a shopping list？If they do，they must have something want to buy.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
No No，you and I aren't the one who tells Chinese people what should or should not buy.
Do a survey on Chinese public，do they have a shopping list？If they do，they must have something want to buy.
What can Chinese people buy that can't be afforded right now?
On a societal level, what exact items of consumption are lower than expected?
What accounts for consumption in high consumption economies? Because in the US the highest consumption is rent, food, education and healthcare, all things that is bad for consumption elsewhere.
Can't really hide behind "China calculate unemployment differently" when China is compared to itself pre-covid. Overall hiding data to pretend nothing happened is a shitty thing to do. I don't care what anti China folks say, their opinion never mattered. You bet if American government did this this forum will all be laughing for good reason.
I don't know，you tell me. As you probably aware of，Chinese fabless's revenue are declining fast，so how about buy more consumer electronics，help Chinese fabless？
China unlike the US has been trying to address wealth inequality through common prosperity. Just as all major banks and financial institutions have increased the salary of low ranking employees and cut salary for upper management and executives to narrow the wealth gap.
However, the issue for China now isn't wealth concentration even though wealth inequality would be a long term problem for China. China is suffering from the collapse of housing market. As too many people have put their saving in buying their homes, when house price decrease people start to feel much poorer due to wealth destruction. When home price increases, people feel more confident due to wealth effect.
For China, it is a painful but necessary process due to the fact that any further increase in housing price would cause a bigger bubble. Due to the trade war and pandemic, China has postponed in cracking down on housing market which is the reason why the housing downturn is so much more problematic.
Pre-COVID China is ancient history compared to today. To take one example, look at China's automobile industry in 2018/2019 compared to today. Revising the method of calculating youth unemployment is long overdue.
Chinese fabless revenues are declining (if that's even true) because they used to be able to fab at TSMC but can't anymore. What does that have to do with supposedly suppressed consumption by Chinese consumers?
Last edited:
Compare with per-pandemic youth unemployment rate, China youth unemployment rate is 7% to 8% higher now. However, China isn't the only one who had a jump in youth unemployment rate during the pandemic. It took other countries 1 year to get their youth unemployment rate back to pre-pandemic level. As China is just coming out of pandemic restrictions in just a few months, it is not a fair comparison at the moment. If China couldn't get its youth unemployment lower to or near the per-pandemic level within a year or so, then China has much more serious problem. However, I have always said that it is the housing downturn that is the biggest drag on consumption and the economy.
MSM has weaponized the youth unemployment data number and published hundreds of articles to paint a picture of China's imminent collapse. Such propaganda war is having an effect on China's global image. Continuing publishing youth unemployment rate would only give MSM more munition to attack China but does nothing to help the situation. Chinese government is already aware of the urgency to address youth employment so it is irrelevant for such data to be published or not. Taking the data offline for a few months, so that the government can concentrate of solving the economy problem without rushing to enact costly and ineffective policies.
I thought it was hilarious.
That youth unemployment number, seemed crooked or off, it was not creditable. Either the economy is in another covid type of contraction, or something weird going on with that number.
To ban it outright, is just trolling, lol.
Who says the communist Chinese do not have a sense of humour!
