Chinese Economics Thread

[antiterror13]

Well, and also, I don't know if this is true, but my AP macroeconomics professor told me that in Japan, when the company doesn't need you anymore because they're not getting as many orders as they used to, they don't let you go; they just ask you to paint the walls 15 times or sharpen all the pencils in the warehouse or check that all the electrical outlets are working 3 rounds a day LOL

Yes, it is true ... hardly any layoff in Japan ... no matter what ... thats the reason Japanese economy is so inefficient and their products are less competitive everyday ..... it is called disguised unemployment .. and heaps in Japan .....

again samuraiblue could confirm or deny it I am sure he will find an article somewhere to deny it and post it here

 

[Yvrch]

because in Japan, whe you are not looking for a job ...you are not unemployeed. For instance for retired people (even not productive obviously) are not unemployeed, also housewives or young people who look after elderly ... all are not part of unemployment figure

Also most women in Japan are housewifes, unlike in many countries and more and more young Japanese left the jobs to look after elderly.

So when you add up retired people, housewives, young people no looking for a job, etc ... very very big number in Japan ... so no wonder the unployment figure in Japan is so low

Perhaps samuraiblue can verify or deny it ... maybe

Yes these are all known issues across economies regardless. US as well have the same problem definition wise.

Funny thing is, overall, China just ignores all these western media's negative coverage and won't even bother to clarify.

 

[antiterror13]

Yes these are all known issues across economies regardless. US as well have the same problem definition wise.

Funny thing is, overall, China just ignores all these western media's negative coverage and won't even bother to clarify.

true .. but most Japanese women don't work ... it is cultural thing .. as you don't see many top female manager in Japan, let alone CEO

 

[ahojunk]

My 2 cents:-

The Japanese economy is stagnant or even going backwards but its unemployment rate is deceasing.

How come? One reason - its population is shrinking, that's why.

 

[antiterror13]

My 2 cents:-

The Japanese economy is stagnant or even going backwards but its unemployment rate is deceasing.

How come? One reason - its population is shrinking, that's why.

yeapp, that one of the main reasons ... not the only one

 

[AndrewS]

@Yvrch

Yes these are all known issues across economies regardless. US as well have the same problem definition wise.

Funny thing is, overall, China just ignores all these western media's negative coverage and won't even bother to clarify.

China generally ignores the negative media coverage in the west because it is *public* criticism and it is frequently just plain wrong or biased.

On the other hand, when valid intelligent analysis and reports are leveled in private, they get a lot of attention.

I'm reminded of how the US Treasury Secretary published a very long study on how Chinese growth would slow down drastically and revert to the global historical norm. Yet somehow it didn't consider that China's peer group are the East Asian Economic Tigers who blasted through the middle-income trap, because what does China really have in common with countries from Latin America, the Middle East or Africa.

So I don't find it very surprising that China doesn't bother to respond publicly, because they've already thought long and hard on the issues internally.

 

[Franklin]

Yes. Less productivity. USSR model of work. Have you heard about cases like this:

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I bet 'zombie factories' are 'Western propaganda'... And those photos are taken outside of China... The model of rural area people influx into the big cities had run out probably. I bet that only a handful of posters in this thread know the term 'Beijing consensus' (just search wiki!). Now Chinese have to switch from that into something else. What's the plan to counter this situation? No likes under this post I assume...Thanks for appreciation. CLassic reply when you don't have anything to say on the matter and you're using personal arguments just like wrote earlier...

Zombie factories in China are real, but what is happening is that China's economy is shifting from mass low end production to higher end production and services. The problem with the coverage of the Chinese economy is that they only show one side of the story. The other side to the story is that China is creating new factories, businesses and industries at a very high pase which is not shown. China has problems in her economy but the sky is not about to fall down as so often suggested by the media.

 

[AndrewS]

@Janiz

Yes. Less productivity. USSR model of work. Have you heard about cases like this:

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I bet 'zombie factories' are 'Western propaganda'... And those photos are taken outside of China... The model of rural area people influx into the big cities had run out probably. I bet that only a handful of posters in this thread know the term 'Beijing consensus' (just search wiki!). Now Chinese have to switch from that into something else. What's the plan to counter this situation? No likes under this post I assume...Thanks for appreciation. CLassic reply when you don't have anything to say on the matter and you're using personal arguments just like wrote earlier...

Please educate yourself before posting. Posting views without facts is simply an indication of bias (whether intended or unintended)

Yes, the studies show that the USSR after the 1970s was faced with DECLINING productivity because the economy was getting less and less efficient each year. You can google the study.

In comparison, the studies show that China's labour productivity growth is slowing down, but it still has the world's highest rate of productivity improvements. So we can see China is most definitely shifting to a new growth model.

See articles below.

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[kroko]

The IMF is urging china to adress the issue of the excessive corporate debt immediately

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[SamuraiBlue]

Yes, it is true ... hardly any layoff in Japan ... no matter what ... thats the reason Japanese economy is so inefficient and their products are less competitive everyday ..... it is called disguised unemployment .. and heaps in Japan .....

again samuraiblue could confirm or deny it I am sure he will find an article somewhere to deny it and post it here

Can you prove that with actual figures?
If not I suggest you keep your traps shut since you are making a fool of yourself.
While you are at it keep in mind that painting a situation with a broad brush is basically showing that you have no knowledge of the situation.