Chinese Economics Thread
- Thread starter Norfolk
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supercat
Major
China's economy is doing fine, and the US won't be able to decouple from China anytime soon.
The 11.7% year-on-year fall in profits narrowed from a 15.5% contraction for the first seven months, in line with expectations and potentially suggests a modest recovery is starting to take root for some businesses.
That was backed up by August earnings posting a surprise surge of 17.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Wednesday. Profits were down 6.7% in July.
That was backed up by August earnings posting a surprise surge of 17.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Wednesday. Profits were down 6.7% in July.
Why is this guy seriously predicting 3.5% growth forever?
| Country | Services (% GDP) | Industry (% GDP) | Agriculture (% GDP) | Other (% GDP) | GDP (T) |
|---|---|---|---|---|---|
| U.S. | 77.6 | 17.9 | 1.0 | 3.6 | $22.9 |
| China | 53.5 | 39.3 | 7.2 | 0.0 | $16.9 |
| Japan | 69.9 | 28.8 | 1.0 | 0.4 | $5.1 |
| Germany | 62.9 | 26.7 | 0.9 | 9.5 | $4.2 |
| UK | 71.6 | 17.3 | 0.7 | 10.4 | $3.1 |
| France | 70.3 | 16.7 | 1.6 | 11.4 | $2.9 |
| India | 47.9 | 26.1 | 17.3 | 8.7 | $2.9 |
| Italy | 65.0 | 22.7 | 1.9 | 10.4 | $2.1 |
| Canada* | 67.7 | 24.1 | 1.7 | 6.6 | $2.0 |
| South Korea | 57.0 | 32.4 | 1.8 | 8.8 | $1.8 |
Obviously Xi forced those factories to keep running in order to save face.
Nah, Chinese economy is still collapsing as too many Chinese running away from their jobs and homes, causing jams everywhere.
Okay that's a joke on the doomers.
In serious news, multiple major railway hubs in China are said to be breaking records on volume of passenger traffic during the week-long holiday of Mid Autum and National Day. Across the country, the railway authority expects to move 190 million passengers in total in this "golden week".
Travel and hospitality sectors are going to see a long overdue boom.