Chinese Economics Thread
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Caixin is mostly for SME while official is mostly for large enterprises. Happens quite often that you get different numbers depending on which PMI figure you are looking
I remember it used to be reversed because Caixin is overweight on the private sector and hence incomplete. Maybe the new trend is the private sector is now doing better than the overall sector. Not necessarily a bad thing.
Nice graph, shows the volume of sales in the property home market for the last few years
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It is targeted on Chinese goods，Indonesia trade minister explicitly says
To mitigate the negative impact of the US-China trade war, Indonesia will impose import tariffs of up to 200% on Chinese goods to protect domestic industries. Indonesian Trade Minister Hasan said the policy will take effect immediately once relevant regulations are promulgated.
According to Reuters and Antara News on June 29, Indonesian Trade Minister Zulkifli Hasan said that Indonesia will take the same approach as the United States.
He said, 'The United States can impose a 200% tariff on imported ceramics or clothing, and we can do the same to ensure that our small and medium-sized enterprises and industries can survive and develop. '
Hasan explained that because of the US-China trade war, Chinese products were excluded by Western countries, forcing China to turn its exports to other markets such as Indonesia, so Indonesia will impose tariffs of 100% to 200% on Chinese-made products and 100% to 200% safeguard tariffs on imported goods from shoes to ceramics. Once relevant regulations are promulgated, the policy will take effect immediately.
Budi Santoso, a senior official at the Indonesian Ministry of Trade, said the Indonesian Trade Safeguard Commission is conducting an investigation to determine the tax rate. According to data from its statistics bureau, Indonesia mainly imports clothing and clothing accessories from China, Vietnam and Bangladesh.
Indonesia is understood to be drafting a ministerial regulation to address the shortcomings of earlier regulations in protecting local industries from the influx of Chinese-made products.
Indonesia, Southeast Asia's largest economy, issued a regulation late last year to strengthen supervision of more than 3,000 imported goods, from food ingredients, electronic products to chemicals. However, the regulation was revoked after domestic industry said it hindered the flow of imported materials needed by domestic industries.
为减轻美中贸易战带来的负面影响，印尼将对中国商品征收高达200%的进口关税，以保护国内产业。印尼贸易部长哈山表示，一旦相关法规颁布，该政策将立即生效。
综合路透社及安塔拉通讯社(ANTARA News)6月29日报导，印尼贸易部长哈山(Zulkifli Hasan)表示，印尼将采取与美国相同的做法。
他说，'美国可以对进口陶瓷或服装征收200%的关税，我们也可以这样做，以确保我们的中小型企业和行业能够生存和发展。'
哈山解释，因为美中贸易战的缘故，中国产品遭西方国家排斥，迫使中国将出口转向印尼等其他市场，因此印尼将对中国制造的产品征收100%至200%的关税，并对鞋类到陶瓷的进口商品征收100%至200%的保障关税。一旦相关法规颁布，该政策将立即生效。
印尼贸易部高级官员章溥帝(Budi Santoso)表示，印尼贸易保障委员会正在进行调查，以确定税率。据其统计局数据显示，印尼主要从中国、越南和孟加拉进口服装和服装配件。
据了解，印尼目前正在起草一项部级法规，以解决早期法规在保护本地产业免受中国制造产品涌入影响方面不足的问题。
印尼作为东南亚最大的经济体于去年年底颁布一项法规，加强对3000多种进口商品的监管，从食品配料、电子产品到化学品等。然而，印尼国内工业界表示，该规定阻碍国内工业所需进口材料的流通后，该规定遭到撤销。
They need to print more money and pump it into the economy. The consumers need the confidence before spending more. This can be done by distributing more cash.
Do you know how big China's consumer's market actually is? For practically every major household item from cell phones to HDTVs to refrigerators to air conditioners to autos, China consumes at multiples of the US. How big do you think it should be?
The competiveness of exports comes from the economy of scale created by the domestic market. It is a very nice side benefit but exports is not the main driver of the Chinese economy.
China is still a middle income country and its consumption will grow even more with income growth.
But China already outspends far, far, far more right now than any other middle income country.
You are talking a population that buys more than twice as many Mercedes and BMWs as Americans. A people that before the pandemic actually outspent supposedly super wealthy Americans when traveling overseas.
Don't hold on to this unsupported idea that China does not "consume" enough. China already consumes multiples of what the US consumes and will consume even more in the future as it closes in on developed status.
The level of consumption is a relative term，not an absolute term. How much consumption is sufficient is relative to production
If you produce more，you should consume more. Doesn't matter how much stuff you already consume, if you cannot absorb your production capacity，you got a problem
If everyone already owns three phones，is that enough？No. because the amount of phones you produced，can only be absorbed if everyone owns five phones.
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