Chinese Economics Thread

broadsword

Brigadier
China has been gradually pushing for a global redback – offshore market, yuan swap, IMF currency basket, AIIB - that will someday rival the current dollar hegemony in global financial transactions. That won’t happen until all three are up and running on their own.

China is moving in that direction.

Franky, I am more concerned with DJIA. It has been running on empty even though it shoots new highs every now and then. If it corrects next year, it is going to be three years of pain before it starts to rebound and if it fails to clear the previous high convincingly, then DJIA will possibly have its own lost decade. I don't know about its impact on the economy though. Anyway, that scenario can happen around 2020.
 

nugroho

Junior Member
China is moving in that direction.

Franky, I am more concerned with DJIA. It has been running on empty even though it shoots new highs every now and then. If it corrects next year, it is going to be three years of pain before it starts to rebound and if it fails to clear the previous high convincingly, then DJIA will possibly have its own lost decade. I don't know about its impact on the economy though. Anyway, that scenario can happen around 2020.
Every stock market has its cycle. DJIA will and definitely down in coming years, it has been up for a long time. What is frightening me is how much it will down and how fast.. If FED pull the interest rate as high as China nowadays in a short time, market will plunge.
 

Blackstone

Brigadier
China's mega-farm… for 100,000 cows: World's biggest dairy being built to supply Russian demand after Moscow boycotted EU exports

Farm in Mudanjiang City will have 60,000 more cows than current biggest
Russia wants milk as it's boycotting EU countries' milk and dairy exports
It will be 50 times bigger than the UK's biggest, which has 2,000 cows

100,000-cow-power dairy farm in China to feed Russian market

Updated: 2015-07-09 11:14

China Daily USA
No mention of the biggest problem with China food products: brand safety! China is still a developing country in every sense of the word, and just like the US in the century, no not this one, the last century, brand safety was a major problem in America, and once the public had enough, it forced the government to impose real reforms and regulatory agencies. Until that's resolved in China, brand safety will be a continuing issue and no one, especially the people of China, will trust Chinese brands.
 

Equation

Lieutenant General
No mention of the biggest problem with China food products: brand safety! China is still a developing country in every sense of the word, and just like the US in the century, no not this one, the last century, brand safety was a major problem in America, and once the public had enough, it forced the government to impose real reforms and regulatory agencies. Until that's resolved in China, brand safety will be a continuing issue and no one, especially the people of China, will trust Chinese brands.

You mean like Blue Bell Ice Cream that's still can not resolve it's Listeria problem?:rolleyes:o_O
 

antiterror13

Brigadier
No mention of the biggest problem with China food products: brand safety! China is still a developing country in every sense of the word, and just like the US in the century, no not this one, the last century, brand safety was a major problem in America, and once the public had enough, it forced the government to impose real reforms and regulatory agencies. Until that's resolved in China, brand safety will be a continuing issue and no one, especially the people of China, will trust Chinese brands.

True, but to be honest China is very close becoming developed country. Also OECD is not purely economic, but politic as well, China is already more advanced than some OECD countries .... but China is huge country and have huge population too, extremely difficult.

To be fair, brand safety in China is improving everyday, perhaps not as high as the one in USA, EU and Japan ... but now already better than most of countries in the world.
I can see the quality of Chinese food products vastly improved compare to ~5 years ago.
For other Chinese products (not food), already top notch, including electronic, whitewares, toys, etc
 

Jeff Head

General
Registered Member
I have deleted numerous off topic posts, and those that carry on arguments, particularly with any posters trying to paint other posters a certain way.

This is not a thread about the failure of Western Democracy.
This is not a thread about the US Stock marker and what the Fed is doing per sey.
This is not a thread about Japan and its economy.
This is not a thread about a grudge fest.

This is the Chinese Economic Thread.

STAY ON TOPIC.

Any more of this and the thread will be closed, and members failing to heed this warning will be suspended.

AT13, stop looking for patterns in the way SB posts. Stop following him around this thread or others attempting to make such a case to him or other members.

If he does something against the rules...inform the moderators. Right now it is you who are on the verge of that.

If you do not like how he posts, your choices are simple.

1) Voluntarily ignore him.
2) Use the SD function to block/ignore him from your view.

DO NOT RESPOND TO THIS MODERATION
 

Ultra

Junior Member
True, but to be honest China is very close becoming developed country.

Could I ask.....have you been to China?
China is no where even close of being becoming developed country. Period. Few top level cities maybe, but vast majority of China is fairly backward, overall, they are on par about Thailand, and even behind Mexico! And I been to Mexico! Forget about even comparing China to OECD countries like Greece thats going bankrupt!

South Korea, a country only very recently just achieved of being becoming a developed country - has a GDP per capita of $35,000 USD. China by comparison has only a GDP per capita of $12,880! They are below even
Please, Log in or Register to view URLs content!
Even Mexico (@ $17,881), Iraq (@$14,571) is better than China.

Even in one of their most techological advanced, richest city Guangzhou, there is a vast area of slum in the heart of the city. Same can be said about Shanghai, slums that makes these cities looks more like third world country than even second world.
 
Last edited:

antiterror13

Brigadier
Could I ask.....have you been to China?
China is no where even close of being becoming developed country. Period. Few top level cities maybe, but vast majority of China is fairly backward, overall, they are on par about Thailand, and even behind Mexico! And I been to Mexico! Forget about even comparing China to OECD countries like Greece thats going bankrupt!

South Korea, a country only very recently just achieved of being becoming a developed country - has a GDP per capita of $35,000 USD. China by comparison has only a GDP per capita of $12,880! They are below even
Please, Log in or Register to view URLs content!
Even Mexico (@ $17,881), Iraq (@$14,571) is better than China.

Even in one of their most techological advanced, richest city Guangzhou, there is a vast area of slum in the heart of the city. Same can be said about Shanghai, slums that makes these cities looks more like third world country than even second world.

Yes I have been to China, really amazing place, very modern.
Slums is everywhere, even in one of the richest city, New York, Vancouver, London, etc, etc

Saying that China is less developed than Dominican Republic, South Africa or Thailand ... welll, that's your opinion ... I respect that ... but I don't agree at all.

You are comparing PPP and outdated data anyway, the important one is nominal GDP. GDP is only one factor of many (i.e science, technology, industrial, etc, etc)
 

plawolf

Lieutenant General
Could I ask.....have you been to China?
China is no where even close of being becoming developed country. Period. Few top level cities maybe, but vast majority of China is fairly backward, overall, they are on par about Thailand, and even behind Mexico! And I been to Mexico! Forget about even comparing China to OECD countries like Greece thats going bankrupt!

South Korea, a country only very recently just achieved of being becoming a developed country - has a GDP per capita of $35,000 USD. China by comparison has only a GDP per capita of $12,880! They are below even
Please, Log in or Register to view URLs content!
Even Mexico (@ $17,881), Iraq (@$14,571) is better than China.

Even in one of their most techological advanced, richest city Guangzhou, there is a vast area of slum in the heart of the city. Same can be said about Shanghai, slums that makes these cities looks more like third world country than even second world.

Yeah, that rant clearly isn't loaded with bias or prejudice at all. :rolleyese:

Ever venture off the touristy streets and into the everyday neighbourhoods in America? Not a pretty picture, especially in urban areas rather than the suburbs.

I have no idea what "slums" you are talking about, you wouldn't happen to be referring to the historic "hutong" neighbourhoods that the west decries as China destroying its heritage whenever they try to redevelop them would you? :rolleyes:

Those might not be to your oh so lofty perfect society standards, but they are a far cry from the true slums of places like Rio or India.

No country or society is perfect or anywhere close to it. You will find poverty and problems in any country or society if you go out of your way to look for it.
 

Ultra

Junior Member
Yeah, that rant clearly isn't loaded with bias or prejudice at all. :rolleyese:

Ever venture off the touristy streets and into the everyday neighbourhoods in America? Not a pretty picture, especially in urban areas rather than the suburbs.

I have no idea what "slums" you are talking about, you wouldn't happen to be referring to the historic "hutong" neighbourhoods that the west decries as China destroying its heritage whenever they try to redevelop them would you? :rolleyes:

Those might not be to your oh so lofty perfect society standards, but they are a far cry from the true slums of places like Rio or India.

No country or society is perfect or anywhere close to it. You will find poverty and problems in any country or society if you go out of your way to look for it.



Of course, not country is perfect (I never deny that) and slums exist everywhere, even in America (case in point - Detroit!) but China is clearly no where near being a developed country by OECD standard.

Let me put it this way, A unemployed person in Australia is entitled to
Please, Log in or Register to view URLs content!
and qualify for $121 in rent assistance a fortnight in employment benefit (dole). That's a total of $15953.6 AUD or $11855.36 USD income per year, compare to the average Chinese wage in China which is currently $4,755 per year, so a bum in Australia who doesn't work at all will still be living much better than a hardworking chinese worker in China.


In fact, The average Chinese private-sector worker earns about the same as a cleaner in Thailand!

That's right, even compare to a third world country like Thailand China comes up short. The chinese workers will be envious of the wages those mexican workers get, and mexico is consider by western standard to be dirt poor.

I would even say that, those who lives on government benefits in the American slums, are still far better off than average chinese workers.



The average Chinese private-sector worker earns about the same as a cleaner in Thailand
chinese-workers.jpg

Hard work, soft earnings. (Reuters/Stringer)
Share
Written by

Please, Log in or Register to view URLs content!

Obsession
Please, Log in or Register to view URLs content!

January 24, 2014

Chinese internet users are abuzz about an
Please, Log in or Register to view URLs content!
that calculates how one’s annual wages compare with those around the world. And many of them aren’t happy to know how little they make compared to their peers.

According to CNN’s online global wage calculator, which uses data from the International Labor Organization, the average annual salary of a worker in China’s private sector was
Please, Log in or Register to view URLs content!
(about $4,755) in 2012, or 38% of the global average. That’s roughly the same as a cleaner in Thailand, according to CNN’s data.

public-sector-wage-china2.png

How the average annual salary of a private-sector worker in China compares with the rest of the world.(CNN Global Wage Calculator)

These figures are circulating Chinese social media, generating
Please, Log in or Register to view URLs content!
posts on Sina Weibo, as internet users complain that their modest wages don’t match China’s status as the world’s second-largest economy. (There is some nuance, of course, related to the purchasing power of a smaller salary in China compared with the same amount in more advanced economies, but this doesn’t get much of an airing in these debates.) One
Please, Log in or Register to view URLs content!
(registration required), “So China is very rich but Chinese people are very poor.” One called on Chinese president Xi Jinping,
Please, Log in or Register to view URLs content!
, “China is that poor? Does Big Xi know?” Another simply
Please, Log in or Register to view URLs content!
, “Where is my money?”

The discussion highlights the uneven distribution of wealth that persists amid China’s rapid economic growth. China has the world’s
Please, Log in or Register to view URLs content!
after the US, according to
Please, Log in or Register to view URLs content!
by Wealth-X and UBS. At the same time, 18 provinces have
Please, Log in or Register to view URLs content!
for per capita disposable income this year, and overall measures of inequality in China only improved
Please, Log in or Register to view URLs content!
last year, according to government statistics.

Bloggers found that even higher-range Chinese salaries don’t fare very well in the global league tables. The average salary for public-sector workers is around 60% higher than the equivalent in the private sector, but is still only 60% of the global average. Using CNN’s tool, Chinese media plugged in government figures for the country’s “high income” bracket of
Please, Log in or Register to view URLs content!
(link in Chinese)—and discovered that the closest equivalent is a taxi driver in South Africa.

public-sector-wage-cnn.png

The average salary of a public sector worker in China.(CNN Global Wage Calculator)

Please, Log in or Register to view URLs content!



And then there is that news that burns into my mind just how backward China is few years ago - Remember trapped coal-miners in Chile? Chile is consider one of the poorest country in South America, and coal-miners are consider some of the worst job poorest of the poor can get. And yet those Chilean coal-miners who were trapped in were all wearing protective suits and the coal mines all have safety features like escape rooms and oxygen mask, in fact, nobody die in that incident. In fact, in most third world country there were very few coal-mine accident that resulted in death.

At the same time, China leads the world in coal-mine accidents - at least 5000 chinese died in coal-mine accidents every year, during that same period of Chilean coal-mine accident, few chinese coal-mines exploded and killed more than few hundred chinese miners at the same period. For a country that you guys think is going to be a super power and a "developed country" - that doesn't sit right does it? Chile, one of the most under developed and poor country, is doing better than China.


I am not being bias. I am just not a wide-eye fan-boy like many here who sticks their heads in the sand. These are facts. China is no where near being a developed country. I just gave examples and facts.
 
Last edited:
Top