Alot of tier 2 or tier 3 cities also offer better living standards, less pollution and traffic with same quality infrastructure and amenities.
Chinese Economics Thread
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FriedRiceNSpice
Major
If only there was no 996.
Will my chances at getting into ByteDance, Tencent, or Huawei increase if I pass myself off as Korean-American?
I feel our conversation has been veering off topic at every turn, so I won't be responding to this issue further. While attracting global talent certainly helps boost competitiveness, there's an upper limit to talent demand within any specific industry branch—and ultimately, supply always exceeds demand. Many highly competitive industries within China already face talent oversupply. Take photovoltaics or other mature high-end manufacturing sectors—even domestic engineers sometimes struggle to find comfortable positions. Worse still, foreigners may end up taking jobs meant for locals, much like how global internet companies in the U.S. have talent absorption limits, leading to Indians and Chinese now taking American positions.
Yeah, it's fake, according to those numbers China is more expensive than Singapore and Taiwan lol.
Yang Shuiqing, associate researcher at the American Studies Institute of the Chinese Academy of Social Sciences, told the Global Times on the 24th that China's declaration represents a precise, limited, and autonomous policy adjustment. She explained that first, the scope of China's decision is confined to “current and future negotiations,” with its commitments explicitly targeting “new” negotiations. This implies that all special and differential treatment provisions China enjoys under previously concluded and effective WTO agreements—such as the Agreement on Agriculture and the Agreement on Subsidies and Countervailing Measures—will remain fully intact. China is not seeking special and differential treatment rights in negotiations that have not yet commenced and that require additional differentiated treatment.
Yeah many sources have commented on it. China is probably deliberately sandbagging its data to appear weaker. "All warfare is based on deception. Hence, when we are able to attack, we must seem unable; when using our forces, we must appear inactive." etc etc
Actually the same author just put out another article with more analysis of the ICP values. Comparing physics-based quantities strongly suggests that China is manipulating ICP data to make its PPP GDP look lower. E.g. Chinese people consumed twice the power per capita as Mexicans but their PPP utility spending was the same, which should not be the case as PPP is supposed to compare like-for-like.
In 2023, the year of the most recent ICP update, the World Bank determined that China and Mexico had roughly equivalent per capita PPP GDPs, with China at $22,687 and Mexico’s at $21,905.
Lazy analysts like yours truly can only engage in vocal fits of hand-waving, declaring the results prima facie ridiculous. “Doggonit, just look at the skylines of the top 100 cities in China versus Mexico City!”
A more rigorous analyst would sift through a representative basket of goods and services, compare the per capita PPP dollar amount assigned by ICP and reconcile that with physical quantities consumed gleaned from other data sources.
Performing this exercise for China and Mexico results in the assigned dollar value of goods in China coming in at less than half the same good in Mexico. This is not supposed to happen when the ICP data is specifically PPP values.
While quality differences can certainly account for differences in PPP-derived prices, it is highly unlikely that Mexican food, cars, housing, electricity and education are two to four times superior to their Chinese versions.
Food is a matter of taste and no matter how many times you’ve read “Like Water for Chocolate”, Mexican food cannot possibly be three times as good as Chinese food.
It is also unclear how one kilowatt-hour of Mexican electricity can be twice as good as one kilowatt-hour of Chinese electricity. Ditto for a square meter of Mexican housing. And Mexican universities are four times the quality of Chinese universities? Really?
According to ICP data, the derived average price of cars sold in China in 2023 was $12,131, less than half that of Mexico. This is also less than half the price reported by third-party data providers like Autohome and derived from China’s National Bureau of Statistics’ retail sales data.
Somebody has been lowballing the value of cars sold in China by a factor of more than two. That same somebody has possibly perhaps probably very likely almost for certain also been lowballing the value of Chinese food, housing, electricity and education by similar factors.
Professor Guthmann, tracking a basket of 50 PPP line items reported by the ICP, estimates that adjusting for data incoherence based on China/Mexico statistics more than doubles China’s PPP consumption.
According to ICP data, China has lowballed not only services (university education by a factor of four) but also material goods (cars, housing and electricity by a factor of more than two).
It was not China who cooked its data to look weaker. It was the west, the US in particular, who have been inflating their numbers to look stronger for geopolitical reasons. All these oddities in comparing the Chinese economy to other countries are because the USD has had its value severely skewed.
Man this guy needs to STFU!
Stop bringing so much attention to China's GDP and PPP! He should just parrot Gordon Chang for crying out loud and stop asking questions!
Let china measure how they want to measure.
FriedRiceNSpice
Major
Actual top tier talent does in fact flow from US tech sector to China.
MSM should make up its mind. It's simply not possible for China to be "faking data to cover up pending economic collapse, overstated GDP by 40%" and " maliciously underreporting GDP figures to hide its true economic power," at the same time.
MSM should make up its mind. It's simply not possible for China to be "faking data to cover up pending economic collapse, overstated GDP by 40%" and " maliciously underreporting GDP figures to hide its true economic power," at the same time.