Chinese Economics Thread

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KYli

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Within the first three days of its Singles' Day promotion that began last week, the company saw sales in fourth and fifth tier cities up 167 per cent year on year, faster than the 113 per cent growth seen for first tier cities, according to data released by the company and cited widely by Chinese media. The company did not disclose the exact sales figures.

Pinduoduo said the consumption philosophy among its users this year appeared to be more "rational", meaning that shoppers are buying only what they need rather than spending blindly on aspirational items.

Mothers and the younger generation born after 2000 in third and fourth tier cities have favoured local brands, buying local beauty products, home appliances and sports products from big-name domestic labels. White-collar workers and middle-class consumers in first tier cities are buying more day-to-day goods such as fruit and cat food, as well as digital products.

Pinduoduo said many home-grown brands have become a popular choice for consumers this year, such as Shanghai's local cosmetics brand Bee&Flower and Li Ning, a Chinese sportswear retailer founded by a former Olympic gymnast.
 
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Stierlitz

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Hong Kong’s economy expanded 4.1% year-on-year in the third quarter of 2023, accelerating from a 1.5% rise in the previous period but less than market forecasts of 5.2%, preliminary estimates showed. It was the strongest economic growth since the fourth quarter of 2021, driven by a sharp rebound in fixed investments (18.2% vs -0.5% in Q2), which grew to its highest in over two years. In contrast, growth slowed for private consumption (6.5% vs 7.7%), while government spending declined less (-4.5% vs -9.8%). On external trade, a strong rise was seen from exports of services (24.0% vs 2.8%) and imports of services (28.5% vs 25.4%), while goods continued to decline in both exports (-8.6% vs -15.1%) and imports (-6.0% vs -15.8%). On a seasonally adjusted quarterly basis, the economy grew 0.1%, modestly recovering from a 1.3% contraction in the prior quarter and missing market estimates of a 1.4% expansion.

source: Census and Statistics Department, Hong Kong
 
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Tse

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Look past the clickbaity title because the title doesn't even make sense when compared to the content. I'm genuinely confused about what's the argument of the writers here. On one hand they fully acknowledge that China's property bubble/urban inequality was getting out of hand and Xi needed to clamp down on developer debt, and that dampening speculation helps divert capital to high-end manufacturing. And then they paint it as a bad thing because high end manufacturing has an uncertain future while many developers can't deliver presold homes/can't fund local government land sales leading to rising municipal debt. And concludes by saying that Xi is probably not too popular among the masses now? The article essentially has no clear conclusion but tries to hide under a "China bad" title and final remark?
 
C

CMP

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gelgoog said:
Money & Macro fact checks Peter Zeihan's China collapse theory.
Click to expand...
Zeihan's main role, as a propagandist sponsored by Uncle Sam, is to calm the nerves of the millions of incels and racists in the US who fear for their own country's future. They can only remain calm by assuming their biggest external threat and rival will collapse on its own. Exact same target demographic as Gordon Chang and Minxin Pei. It's basically the government contracting out management of domestic morale and disorder. In other words, the US is full of people who can only hold their nerve if they think they're winning. If they come to believe they're losing, they'll also lose all their nerve and face full existential crisis.
 
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ansy1968

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CMP said:
Zeihan's main role, as a propagandist sponsored by Uncle Sam, is to calm the nerves of the millions of incels and racists in the US who fear for their own country's future. They can only remain calm by assuming their biggest external threat and rival will collapse on its own. Exact same target demographic as Gordon Chang and Minxin Pei.
Click to expand...
Yes BUT who will believed an original and a half bake from a pure bred....lol Zeihan had it all and other two don't look credible because of their race. I pity Gordie, he is the one who work hard for 22 years to build the brand BUT he forget to trademark it and now somebody had benefit tremendously from it....lol
 
C

CMP

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ansy1968 said:
Yes BUT who will believed an original and a half bake from a pure bred....lol Zeihan had it all and other two don't look credible because of their race. I pity Gordie, he is the one who work hard for 22 years to build the brand BUT he forget to trademark it and now somebody had benefit tremendously from it....lol
Click to expand...
Exactly. Zeihan is just Chang's final form. A white man telling white men that they will win by default and everything is fine.
 
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