Haven't you noticed, the green propaganda slogans in the west have been replaced since China started dominating green tech. Selling "green" chemicals to europe just because it is "green" and nothing else is foolish.
Chinese Economics Thread
- Thread starter Norfolk
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that's with machineries. This is with green fuel. Not any different than selling coal or oil or natural gas
US wants more HK investment, what am I reading?
there is not much talk about recent data that Chinese government's tax revenue fell compared to last year. this is a more grave concern than a lot of other things imo. typically all of the past Chinese dynasties' decline begins with decline in tax revenue. not saying that this is necessarily taking place already, but in the past successful corrective measures have also been painful.
What should we talk? There were big tax cuts to revive the economy, nothing surprising if the tax income dropped in that case.
Fiscal revenue is down because of the as opposed to income tax, consumption tax, etc. So the property sector slowdown means less revenue from property. That's not to say it's a good thing, of course, just a natural and expected consequence. There is some talk of which may or may not happen.
My understanding is the official stat is mostly influenced by large companies, which tend to have significant overseas operations or are at least more export-dependent.
Caixin is more for smaller companies which mostly only produce for the domestic market and do not export.
Hence my interpretation for the past year and half is that the external "world" (really the West) market is not doing so well while the domestic market is mostly fine. But a poor global market still results in an appreciable drag on the local economy.
IMO it at least tracks. The Western markets have been quite poor for a while now due to the triple whammy of COVID/post-COVID impact, the sanctions on Russia, and the ongoing genocide in Gaza conducted by Israel.
Frankly, It seems it's going to be earlier than I expected
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China should aim to build up WTO. If not possible (hint: it's not), it should start doing its own mini WTO to better accommodate Chinese interests. RCEP-like, but for multiple regions and with strong enforcement mechanism in these institutions
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