Chinese Economics Thread
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These two charts showcase China's comprehensive economic growth in recent decades quite nicely. Also, it shows the extent of their opening. Regarding FDI, as you can see in the second graph, its ratio to the GDP since the early 1990s has been decreasing, despite FDI itself rising fiercely during the same period. That shows China's domestic, and private firms climbing technologically, industrially, and rising up in value.
As you can see, it doesn't matter that China recorded the first-ever negative FDI outflow quarter this year in Q3 due to the collapse of the global economy itself IMO. Because, even with the FDI completely gone, they would still lose only 1% of their GDP at the end of the day. But the Western media would present itself as some kind of apocalyptic news. Meanwhile, China itself now has enough money to keep investing in the Global South more and more and getting them to their side and stronger. Now China is the only one who is getting other countries to rise up.
As you can see, it doesn't matter that China recorded the first-ever negative FDI outflow quarter this year in Q3 due to the collapse of the global economy itself IMO. Because, even with the FDI completely gone, they would still lose only 1% of their GDP at the end of the day. But the Western media would present itself as some kind of apocalyptic news. Meanwhile, China itself now has enough money to keep investing in the Global South more and more and getting them to their side and stronger. Now China is the only one who is getting other countries to rise up.
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This simply shows the breathtaking scale and speed at which China is industrializing.
As I saw some pro-China analysts say, the US will be to China, what some random small country like Portugal is to the US proportionally.
But now some Westerns will say, "But at what costs?", or some other similar cope.
But, there is no "cost", once China urbanizes fully and its standards of living, productivity, and sci-tech achievements rise 3 more times,
They will be the ones who will contribute the most to the complete solution of the climate change problem on the world level then.
Both within their own borders but also with technological exports around the world.
In January 2024 five new countries will join BRICS. These are Egypt, Ethiopia, Iran, Saudi Arabia and UAE. The BRICS group from 2024 will see a larger GDP (PPP) in 2028 than the G7 countries;
There are also several countries that has applied for BRICS in 2022 and 2023. Their GDP (PPP) will by 2028 reach;
Hence, the aggregated GDP (PPP) for BRICS + Countries that has applied for BRICS-membership in 2022-23 will $94.6 trillion in 2028.
Long term BRICS may see countries like Indonesia, Turkey, Mexico, Pakistan, Malaysia, Argentina and so on. Most of the world´s population and natural resources may end up in the hands of BRICS. As Russian the foreign minister Sergey Lavrov pointed out - At the time BRICS is an association but may develop into something more the coming decades. What is true is that the economic future may not be in the Western Civilization.
But what do I know.
There are also several countries that has applied for BRICS in 2022 and 2023. Their GDP (PPP) will by 2028 reach;
Hence, the aggregated GDP (PPP) for BRICS + Countries that has applied for BRICS-membership in 2022-23 will $94.6 trillion in 2028.
Long term BRICS may see countries like Indonesia, Turkey, Mexico, Pakistan, Malaysia, Argentina and so on. Most of the world´s population and natural resources may end up in the hands of BRICS. As Russian the foreign minister Sergey Lavrov pointed out - At the time BRICS is an association but may develop into something more the coming decades. What is true is that the economic future may not be in the Western Civilization.
But what do I know.
As long as India is part of BRICS, its a pointless organization. India will derail any actual meaningful action taken by BRICS. They will act as the ultimate spoiler and a convinent western mole.
China also essentially made SCO another useless organization by allowing India in. China always thinks adding india will make them see China in a positive light. But that doesn't happen at all. Instead India thinks about how to derail any kind of initiatives taken by China in these organizations. So, these orgs become a talking shop without actual actions.
BRICS actually resulted in the formation of the New Development Bank. In addition to being some kind of a multilateral discussion platform so far. I actually agree with you in the majority of what you said in that outside of that - It hasn't managed to accomplish anything concrete yet.
But, it doesn't matter. It instead serves greatly as a soft power rhetoric propaganda tool against the West/G7 in general.
Common populations around the world are uninformed, they see some headlines about BRICS and go WOW.
They see some crazy BRICS statistics and go crazy, even in the US you see how they are freaking out about this organization.
Meanwhile, they don't realize that you have China alone that is overtaking the entire West combined in many important, less talked about metrics, no, they see only BRICS as some kind of a threat for some reason. If that's the case, then that should be exploited for propaganda.
People are generally ignorant and don't think too deeply, so as a propaganda tool, BRICS has been tremendously successful so far.
Even some serious analysts from the West talk about it as some kind of a game-changer despite being nothing close to it so far.
After all, BRICS is currently talked about globally around 100 times more than it should if we look at its objective role, in my opinion.
Regarding India obstructing further strengthening of BRICS roles so far, who cares, not that it was possible in the first place technically.
After all, let's be real, outside of China, in the BRICS no other country has the potential to develop any serious international financial threat to Western hegemony.
Nor does any other country in the BRICS have the capacity of yuan to internationalize. Even if they wanted to try, a common currency would fail logistically.
You see it with rupees, no one wants that currency because China is simply many times more important in the global trade and economy than India, hence their currency is simply way more usable.
So, BRICS is a propaganda tool, but China is building its real influence with BRI economically, financially, scientifically, technologically, infrastructurally,
It also has a considerable influence in the AIIB, RCEP, bilateral agreements, and agreements with multilateral organizations like ASEAN/EAUE.
Also, many people forget SCO, but it has been proven so far to be very successful in terms of some softer security common matters, like joint exercises, counter-terrorism, and intelligence-sharing, especially regarding Central Asian countries, Russia, and China, it's way more concrete.
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But it seems that not everything gets covertly sabotaged or dragged on anymore, especially the 2023 was a very productive year. For example, this major agreement was established during the previous BRICS Summit in Johannesburg this August (boosting recognition of cross-national academic qualifications). I think China will benefit from this the most in the coming years for sure amongst other plans listed below.
Because, from the article below I also found out that there are many different organizations-level joint research institutions, university cooperation unions, working groups, joint scientific and innovation funding frameworks and initiates, various joint education programs.
I had the same opinion pre this year brics meeting but it seems China and Russia have India under control.
I'm more worried about Lula and Brasil. Argentinia as a candidate was a big L for brics in the PR department and accidental big W not having to deal with Argentinia.
India is very volatile, but just by having the 3rd biggest economy in the world constantly defy the west, even if they defy China at the same time, is a W in the sense that the west gets easily triggered whereas China doesn't.
China has more room to deal with them slowly through diplomacy, while the west has to react with anger whenever India does something against them, and it feeds off the Indian ego to create more tension etc.
The goal is to deny the west use to the 3rd largest economy. India is still under the delusion that they can be friends with Russia while opposing China, that's good.