Agree, In US, the GDP is used mainly to measure financing.
Also, How China count GDP and US count theirs are different
Chinese Economics Thread
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Also, How China count GDP and US count theirs are different
Here you go: These are stats from SEMI, the world trade body for semiconductors.
Now I did make a mistake, that is, it is "Americas" that have exceeded Chinese Semiconductor sales. But I am reasonably certain, that most of it (>90%) are to the US. No one in Americas has an industry that uses semiconductors as input apart from US. I can dig up the data if you really want.
Also, leave alone the fact who's #1. The title is meaningless, the trend is that US alone is on similar scale of semi sales. It is probably even higher in terms of end usage (since it imports semis from other countries in products), this is largely due to AI and datacenter demand.
Shows up in other stats too, HBM has become a huge % of sales for Hynix etc., and AI GPUs a huge part for Nvidia.
The way China fudged low gdp relative to consumer stats is likely by consumer price index. It's a way that would have no impact on the actual economy, while allowing China to "store up" growth at the same time.
Consumer price indexes have goods such as eggs, beef etc. There's obviously a huge difference between cheap cut beef from the supermarket and expensive restaurant steak. China is likely claiming something closer to the latter to be the baseline, while countries like India or US are taking the absolute cheapest cut they can find.
That's how you end up with for example Russia having better cost of living than China, which then reflects poorly on China's official gdp. Even countries like India who have dirt cheap human resources do not necessarily have better cost of living than China, because a lot of their consumer goods are actually from China to begin with. Without China selling those goods, a purely made in India AC unit or car battery is likely approaching or even higher than the cost to make it in America.
I think when a new goods boom comes, such as the whole EV/AI/personal robotics fiesta, China might decide to use it as an excuse to release the valves on gdp at the same time, since massive global sales and positive sentiments in new industries can be used as an excuse for 10-15% "growth" which is in reality maybe 5% real growth and rest gdp revisions.
With such a massive raw economic lead, yuan being already widespread and popularity rising due to bringing new product categories, China can bid the world at large to switch to yuan trade, making it a perpetual sole superpower since it's closest rival will likely have less than 1/2 of its economy and no way of growing.
this is just chip sales of July month. clearly a misleading statistics if we compare US with China.. the world largest semi market with a country mile.
we are talking about whole semiconductor industry.
1. IC Wafer capacity
2. Semiconductor tools
3. IC consumption annually
------------------------------
1. by 2026 China will have more than 1/4 of entire global wafer capacity if we count all 6 inch/8 inch/12 inch
2. China buys more chip tools than South Korea, Taiwan, U.S. combined in first 6 months of 2024. worth $25 billion
3. China imported a total of 479.5 billion integrated circuits, with an import value of $349.4 billion in 2023
Month to month data is meaningless when you have huge swings between months.
Why not use annual data which would smooth out the noise? It is a very common obfuscation technique to use noisy data and point to 1 outlier as proof.
to avoid giving excess clicks to the regime, here's the original:
I think the original link thechinaacademy is part of the Guancha media network. I think there are too many propaganda sites with China in the name, it gets quite confusing.
Thank you, I thought it was another think tankie regime mouthpiece because they've stolen the word China from Chinese, just like how fucking reddit r/China was stolen by sexpests and think tankies.
I too think the West is doing a mistake by walling itself in. What protectionism leads to is a well known thing. But I also think the West still needs to get denied export revenues for denying export revenues to China.
I very strongly disagree with viewpoints like that of SanWenYu. Because they presume the West needs a justification. The West doesn't. They just sanction if they can. The only reason they haven't sanctioned civilian airliners and COMAC C919 is the fear retaliation for example.