Chinese Economics Thread

[Randomuser]

I was reading a report on GDP growth slowdown in China this year. Everywhere in the world is slowing down this year so it's kinda expected.

Something to point out is Guangdong GDP only grew 3.4% while Jiangsu grew 5.7%. Given how GD is where Shenzhen and Guangzhou are, this doesn't have good signs.

Blame can be put on the real estate market which really hurt GD. However I hear another reason is many cities in GD kinda suck esp the ones near the west/east border away from the center. The level of development regarding infrastructure leaves much to be desired. GD ppl also say it's unfair how GD gets so much taxed to support other provinces but not much is given to them in return. In contrast, Jiangsu has almost 6 out of 13 really rich cities.

No wonder GD (which would include HK) is the province that produces so many anti government figures in recent times. I too would be pissed off if I were them and this is true.

Given GD's size as the biggest province in terms of people, something ought to be changes to make sure it can reach its full potential as a whole. Rather than just hoping HK and Shenzhen can bail out the whole province.

 

[coolgod]

No wonder GD (which would include HK) is the province that produces so many anti government figures in recent times. I too would be pissed off if I were them and this is true.

I don't think this is true at all. 反贼 come from all over China, nothing to do with local economics and taxation. Shanghai is probably the region with the most libtards. The poorer provinces with large ethnic minorities who just take a large portion of state coffers arguably have more anti government figures.

 

[Randomuser]

I don't think this is true at all. 反贼 come from all over China, nothing to do with local economics and taxation. Shanghai is probably the region with the most libtards. The poorer provinces with large ethnic minorities who just take a large portion of state coffers arguably have more anti government figures.

I thought the saying was Shanghai is stereotyped as being sissies while Cantonese are being stereotyped as actual traitors.

 

[coolgod]

I thought the saying was Shanghai is stereotyped as being sissies while Cantonese are being stereotyped as actual traitors.

Never heard that before, you're probably confusing Cantonese with HK cockroaches.

 

[Index]

I was reading a report on GDP growth slowdown in China this year. Everywhere in the world is slowing down this year so it's kinda expected.

Something to point out is Guangdong GDP only grew 3.4% while Jiangsu grew 5.7%. Given how GD is where Shenzhen and Guangzhou are, this doesn't have good signs.

Blame can be put on the real estate market which really hurt GD. However I hear another reason is many cities in GD kinda suck esp the ones near the west/east border away from the center. The level of development regarding infrastructure leaves much to be desired. GD ppl also say it's unfair how GD gets so much taxed to support other provinces but not much is given to them in return. In contrast, Jiangsu has almost 6 out of 13 really rich cities.

No wonder GD (which would include HK) is the province that produces so many anti government figures in recent times. I too would be pissed off if I were them and this is true.

Given GD's size as the biggest province in terms of people, something ought to be changes to make sure it can reach its full potential as a whole. Rather than just hoping HK and Shenzhen can bail out the whole province.

It also well illustrates the strong consistency and lead from China's economy. 3.4% would be windfall growth bragged about by both candidates in the world's 2nd largest economy, but in China, this number makes provinces feel disadvantaged vis a vis their even faster growing peers.

This is despite it being more difficult for China to grow at the same percentage rate than it is for any other nation.

Puts things into perspective just how intractable and pervasive China's lead and it is poised to remain this way for the foreseeable future.

 

[HighGround]

It also well illustrates the strong consistency and lead from China's economy. 3.4% would be windfall growth bragged about by both candidates in the world's 2nd largest economy, but in China, this number makes provinces feel disadvantaged vis a vis their even faster growing peers.

This is despite it being more difficult for China to grow at the same percentage rate than it is for any other nation.

Puts things into perspective just how intractable and pervasive China's lead and it is poised to remain this way for the foreseeable future.

Perhaps you should consider that people can get upset for reasons other than GDP growth.

Using or citing GDP as proof of "growth" as a practice should be stopped IMO. Economists and think tanks need to start being more nuanced in their analysis and avoid giving a headline number, as if it encapsulates whether material conditions have improved or worsened. It might be more useful ot issue "report cards" instead.

 

[gelgoog]

Chinese Power Plant Arrives at Sanctioned Russian Arctic LNG Project After Push Through Dangerous Sea Ice

The US sanctions on Arctic LNG 2 are retarded anyway.

Chinese oil & gas companies have a major share in the Arctic LNG 2 project in Russia. It is in the interest of the Chinese government that there is more LNG in the world market, to push the prices down for Chinese consumers. Why hand over the US and Australia most of the LNG market in a silver platter and allow them to set prices?

I expected this to happen and for the project to go ahead. The US government needs to learn they are not the world government, and they cannot interfere with legitimate trade between other nations, which is the case here. China is selling equipment for an LNG liquefaction facility to Russia, so that Russia can sell LNG to China. The equipment is made in China with Chinese components.

Painting the Russian and Chinese companies engaged in this deal as committing unlawful actions is just pure US imperial hubris.

The articles made it seem as if the Baker Hughes US made gas turbines were some sort of essential component and that the whole project was dead without them. They are just used to generate power to run the compressors, basically a huge refrigerator, and it's not like both China and Russia do not manufacture gas turbines themselves. They might be lower power or efficiency than the ones provided by Baker Hughes, but you just use more turbines, and burn more gas and you still get the LNG. Russia also considered using nuclear reactors to run the compressors at one point. But those would take too long to build. The main advantage was you could use all the gas for export and the liquefaction would be cleaner in term of emissions.

Using gas turbines to power the compressors is just a matter of convenience since you have natural gas right there on site. But the compressors can be run with electric power generated from any source.

 

[Index]

The US sanctions are retarded anyway.

Chinese oil & gas companies have a major share in the Arctic LNG 2 project in Russia. It is in the interest of the Chinese government that there is more LNG in the world market, to push the prices down for Chinese consumers. Why hand over the US and Australia most of the market in a silver platter and allow them to set prices?

I expected this to happen. The US government needs to learn they are not the world government, and they cannot interfere with legitimate trade between other nations, which is the case here. China is selling equipment for an LNG liquefaction facility to Russia, so that Russia can sell LNG to China.

Painting the companies engaged in this deal as committing unlawful actions is just pure US imperial hubris.

US' proposal for international sanctions on Russia was shot down at the UN, so they have no stake in this deal anyways.

 

[gelgoog]

US' proposal for international sanctions on Russia was shot down at the UN, so they have no stake in this deal anyways.

The US government can probably threaten Wison with blocking of financial transactions like they did with the Swiss company which laid down Nord Stream 2. That seems to be their modus operandi of late. That will make payments with Western companies impossible.

Another reason to get the BRICS payment network up. Looking at the news articles, Wison seems to operate in the Global South, that is where their customers are, and yes they do have ties with Western companies in terms of technology but I doubt that it couldn't all be developed in China if they so desired.

If they operate in the oil & gas business, they will run into issues with the US's attempts to control the sector internationally to rule the world economy. If it wasn't Arctic LNG 2 it would be something else sooner or later. So they better shape up and become independent.

 

[Index]

The US government can probably threaten Wison with blocking of financial transactions like they did with the Swiss company which laid down Nord Stream 2. That seems to be their modus operandi of late. That will make payments with Western companies impossible.

That would be unlawful then, and met with harsh reprisals that ultimately hurt US more.

You are allowed to take steps against international law, but you're then unable to defend yourself from the consequences of your actions, unless you have sufficient economic power, which sadly for US they don't, hence why Russian economy remains booming, largely thanks to the new heights of cooperation and tech transfer by Chinese firms.