Actually didn't he admit a mistake in that in fact the TIC is since Feb 2023 stating nominal values of foreign holdings rather than market value? Or was that someone else?
Chinese Economics Thread
- Thread starter Norfolk
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I don't know who Mr. Rory Stewart is other than he sort of looked like Mick Jaggers brother or something. But he seems to have a show, a podcast with another British man, named Allaister Campbell and on this bit he (Stewart) talks about the real dangers in the Chinese economy. The factors he listed are 1.) Debt 2.) Trade - losing out to Mexico and Canada 3.) Demographics 4.) Japanization of China a.k.a. the lost decade.
Growth of the Chinese economy has been harped and propagandized in the west, by Western people along with anti-China Chinese that it's growth must be maintained at 9 to 10% and anything lower than that means trouble not just for the Chinese people, but to the actual governing entity and structure of China which is the CPC. Who made this claim? And when? Did anyone Chinese leader(s) ever said this either publicly or privately?
Debt situation in China, how does it fare compared to the rest of the developing nations and developed countries, and why wouldn't China be able to calibrate itself or rebalance its economy from the supposed massive debt it's incurred. Is the debt privately held? Or are they publicly held debts?
Trade situation with America seems to be taken as a source of victory for the Americans since according to Stewart China is no longer America's biggest trading partner (down to 11 or 12% from 16%) which now been replaced by Mexico and Canada. In addition, 40% of the goods that are imported back into the U.S. are American made products which was only 6% in comparison to what America gets from China. The argument is being presented as a legitimate case for EU and other European countries to go along with such a plan for creating Trade barriers or tariffs as one of the most potent ways to stymie if not collapse the Chinese economy. And a collapse in Chinese economy means weak military, weak government and the country becomes unstable which would theoretically be riped for American/western intervention or at least an opening for a Chinese Gorbachev and Yeltsin.
Why the constant Japan equals China comparison? How is Japan and China even comparable in terms of economic importance, vibrancy, competitiveness, hunger, innovation, government policies etc?
Why is China's economy being scrutinized so much and by supposed experts and leaders coming from countries whose own economic performances for the past decade or more has been shit in comparison to China. I really admire westerners ability to disguise their contempt and superiority with fake care and concern for a country they clearly would love to have as their own.
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The US is about to experience the biggest financial crash since the great depression. They need distracting headlines. US economic growth is being fueled by debt and their productivity is shrinking. China's economy has its problems but its built on solid foundation of manufacturing and productivity.
China's economy is being scrutinized for the same reason that the American economy is scrutinized. It's just so big and significant for the world. People don't analyse the Indian economy in the same way because it simply doesn't matter.
The free analysis is not a bad thing, it highlights and massively exaggerates potential sources of problems
It's crazy what they are saying, because Chinese growth of 5% is still massively ahead of their favorite India's 6-7%, in absolute terms, for example, and the gap between the two is still widening just like it always was in the past decades, and not narrowing in the slightest bit.
While the EU grows 0.7% for example, 7 times relatively slower than China, and that's not a problem. That's not making the same amount of headlines, when in fact it should make many times more headlines in comparison to those "problems" of China.
The Chinese economy is being scrutinized so much by the Western media ordered by the elites to mask their own incompetence and collapse.
They talk about China's "debt problem" when they are the most comically indebted societies in history. It's a social engineering against their citizens to divert attention elsewhere. It's crazy to believe what has the West turned into.
Trade moving to Mexico is clearly statistical manipulation again because when they publish those low IQ articles, they fail to mention how at the same time, trade from China is also rising to Mexico, and also to other similar countries they highlight in those reports.
But their population is too stupid to understand that it's just the product assembling moving there to save the faces of their lying politicians, and due to that fact, it's nowhere near hurting or "punishing" China with the intensity those articles would lead you to believe.
They talk about "Japanization" at the moment when China contributes to 35% of global GDP growth this year and has the biggest scientific and technological achievements in its history. And the major reason the growth slowed down a bit was the collapse in the West itself.
In addition to 500 million more people still living in less developed areas, they have, which will be urbanized more, those people will be better educated, just like in the past of other areas of China too, same formula, which can carry years of continued high economic growth just by itself.
While the EU grows 0.7% for example, 7 times relatively slower than China, and that's not a problem. That's not making the same amount of headlines, when in fact it should make many times more headlines in comparison to those "problems" of China.
The Chinese economy is being scrutinized so much by the Western media ordered by the elites to mask their own incompetence and collapse.
They talk about China's "debt problem" when they are the most comically indebted societies in history. It's a social engineering against their citizens to divert attention elsewhere. It's crazy to believe what has the West turned into.
Trade moving to Mexico is clearly statistical manipulation again because when they publish those low IQ articles, they fail to mention how at the same time, trade from China is also rising to Mexico, and also to other similar countries they highlight in those reports.
But their population is too stupid to understand that it's just the product assembling moving there to save the faces of their lying politicians, and due to that fact, it's nowhere near hurting or "punishing" China with the intensity those articles would lead you to believe.
They talk about "Japanization" at the moment when China contributes to 35% of global GDP growth this year and has the biggest scientific and technological achievements in its history. And the major reason the growth slowed down a bit was the collapse in the West itself.
In addition to 500 million more people still living in less developed areas, they have, which will be urbanized more, those people will be better educated, just like in the past of other areas of China too, same formula, which can carry years of continued high economic growth just by itself.
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30 pound a month sound like what the majority people live by in India, is Sunak copying Modi's policy?
Explainer: China imposes growth limits on vast oil refining industry
Is this just for reducing carbon emissions or is there other economic reasons? Why do they limit the import of crude oil and refinery capacity. Why don't they just import more crude oil, refine and export refined products?
I think the focus in this case is the refining process, not the final products. Larger scale of economy leads to higher efficiency which in turn results in lower carbon emission.
For the same reason China has been trying to reduce the number of smaller steel makers.
Industrial profits see return to growth in third quarter
China's industrial profits rebounded to 7.7 percent year-on-year growth in the third quarter, ending a decline of five consecutive quarters, the National Bureau of Statistics said on Friday.
Industry experts said that the growth in the profits of major industrial firms added further signs of economic recovery amid a package of strengthening supportive policies, and this momentum is very likely to continue in the fourth quarter.
In September alone, the profits of major industrial firms, which refer to industrial enterprises with an annual revenue of at least 20 million yuan ($2.7 million) each, grew 11.9 percent year-on-year. This followed a 17.2 percent jump in August.
In the first nine months, profits slid 9 percent from a year earlier, but the drop narrowed by 7.8 percentage points and 12.4 percentage points, respectively, from that of the first half and the first quarter.
Among the country's 41 major industrial sectors, 25 saw accelerated profit growth or narrowed the decline in the first three quarters. In particular, the profit of the equipment manufacturing industry, which accounted for 31.5 percent of total industrial profits, grew 0.6 percent year-on-year from January to September, registering an increase for the first time this year..