Chinese Economics Thread

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SanWenYu

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PBOC is changing definitions of its M1 and M2 tallies. Personal demand deposits and provisions by the non-banking payment institutions will be included in M1 starting in January 2025. These two are currently included in M2.

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据中国人民银行网站2日消息，央行决定自统计2025年1月份数据起，启用新修订的
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统计口径。修订后的M1包括：流通中货币（M0）、单位活期存款、个人活期存款、非银行支付机构客户备付金。
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此次M1统计口径修订，是在现行M1的基础上，进一步纳入个人活期存款、非银行支付机构客户备付金。个人活期存款和非银行支付机构客户备付金目前包含在M2中，尚未包含在M1中。
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supercat

supercat

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mossen

mossen

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The rise of corporate China, in a chart. The evolution just in the past ten years has been astounding.

Also noteworthy that the gray area has shrunk, suggesting less space for the Global South. This seems congruent with my observations that outside of China, no other major economy in the "global south" has really made a significant dent. And I suspect it will stay that way.
 
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zbb

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siegecrossbow said:
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In the first half of this year, real wages remained lower than in 2019 in Germany, France, Italy and the U.K., as well as in Japan and South Korea. The decline in earnings has helped feed a wave of defeats for ruling parties in recent elections.

Real wages were higher in the U.S., but only by 1.4%, while Canada recorded a larger increase.

By contrast, Chinese real wages were up 27% from 2019, while Brazil also recorded a big rise. In Russia, real wages have risen sharply since the start of 2023 as potential workers fight the war in Ukraine while weapons manufacturers strain to increase their output.
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The ILO said real wages in some countries—the U.K., Japan and Italy—remain below levels recorded in 2008, the year in which a financial crisis pushed many rich economies into a deep recession.
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Wrought

Wrought

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Caixin NEI rose to 34.4 in November, the highest in nearly a decade.

The index measures "new economy" inputs as a proportion of total economic inputs, and is divided into labor, capital, and technology subindices. The "new economy" is defined across 10 categories (Energy Conservation & Environmental Protection, New IT, Biotech, Advanced Equipment Manufacturing, New Energy, Advanced Materials, New Energy Vehicles, Science Research and Hi-tech Services, Finance & Legal Services, Culture, Sports & Entertainment).

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interestedseal

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China’s Income as percentage of GDP is in fact higher than US. But it’s Consumption as % of GDP is much lower because Chinese households save more and don’t owe as much debt. In fact even within consumption China’s % of gdp on goods consumption is higher. So it’s only services consumption that’s much lower. This is not to say China shouldn’t further increase goods consumption or household income’s share in its GDP, but the key to promote consumption might be to decrease saving through more transfer payments and social welfare
 
siegecrossbow

siegecrossbow

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interestedseal said:
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China’s Income as percentage of GDP is in fact higher than US. But it’s Consumption as % of GDP is much lower because Chinese households save more and don’t owe as much debt. In fact even within consumption China’s % of gdp on goods consumption is higher. So it’s only services consumption that’s much lower. This is not to say China shouldn’t further increase goods consumption or household income’s share in its GDP, but the key to promote consumption might be to decrease saving through more transfer payments and social welfare
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High services consumption = lawyer fees/UHC coverage.
 
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