Chinese Economics Thread

[Hendrik_2000]

This is very heart warming story. We heard about atrocity against Rohingya But few people know there are wars too against Burmese other ethnic, forcing many to flee their land and into China. Some women are marrying lower income Chinese man since most Chinese women went to work in big city and shun these men.

But China need to revise their citizenship law and allow this foreign bride to get citizenship
But Their children are Chinese citizen and eligible for allowances. This is the story of a Dai Chinese woman who help these foreign bride get their allowances since many doesn't speak Chinese. But they don't have language problem with locals since they are ethnically the same.
This is the advantages of strong united country they provide peace ,economic benefit and social program. Considering so many strife in this world China get it right this time around

 

[B.I.B.]

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I can see the complaining ahead about this... The US isn't transitioning to electric vehicles so how will they be able to make money from China if only electric cars are allowed. I remember when China was thinking of going with a cellphone telecom system standard different from the West, they complained because that means Western cellphone makers would have to spend the money making cellphones to work on that system.

And then they will criticize China for pollution...

How do the people in China who live in apartments charge their cars overnight? The same applies to Europe where many home owners do not have on site parking and park in the streets.

We should have a car thread to discuss what cars we like and the merits of one type over the other.Quite often I have read that electric cars are all that environmentally friendly.
Im a V8 person and enjoy driving past rattling the cups of all those lattes drinkers who occupy the tables on the footpath.
Also F1 and other forms of car racing will never be the same for the petrolheads if all cars were electric.

 

[AssassinsMace]

How do the people in China who live in apartments charge their cars overnight? The same applies to Europe where many home owners do not have on site parking and park in the streets.

We should have a car thread to discuss what cars we like and the merits of one type over the other.Quite often I have read that electric cars are all that environmentally friendly.
Im a V8 person and enjoy driving past rattling the cups of all those lattes drinkers who occupy the tables on the footpath.
Also F1 and other forms of car racing will never be the same for the petrolheads if all cars were electric.

I think it depends on how you look at it. In a developed country with a modern electrical grid that produces more electricity than is used, then having electric cars does help with the environment. There's no storing electricity in a large macro capacity as of now. It's use it or lose it. So that means you're not adding to pollution by charging an electric car. Now if you're in a country where brown outs are common, then there's an argument that electric cars don't help the environment.

 

[broadsword]

How do the people in China who live in apartments charge their cars overnight?

More and and more charging points are being built. That means you can charge your EV even if you live in an apartment.

 

[AssassinsMace]

I just watched the 60 minutes interview with Steve Bannon. I don't know how anyone thinks this guy is an expert genius strategist on anything. He just repeats what his audience wants to hear. The same stuff you read in comment sections all the time from the uneducated. I wanted to hear about his war on China on the economics front and they basically just mention that Trump has recognized China as a threat for thirty years. China was insignificant to the world economy 30 years ago. Maybe because they're hiding how it was Japan Trump was attacking as the greatest threat to the US 30 years and they just say it was China just so it looks like Trump has been a genius all this time. Then I had to go to the show's website to see the stuff not aired on TV. He was asked his solution to North Korea and proclaimed it all centered on China. All he said was the US had a lot of leverage and to sanction China and then he admitted it would hurt the US too. That's not leverage. I have to laugh at all those that made it look that Russia was going submit to Trump when he became President. Putin is the real genius over these guys.

 

[Jura The idiot]

now I read
China reduces foreign exchange risk reserve ratio to zero
Xinhua| 2017-09-11 20:27:25

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China's central bank has scrapped reserve requirements of 20 percent for financial institutions settling foreign exchange forward yuan positions, an official said Monday.

The foreign exchange risk reserve ratio was reduced to zero, according to Sun Guofeng, head of the financial research institute affiliated to the People's Bank of China (PBOC).

Meanwhile, the PBOC's substantial supervision on the reserves put aside by foreign financial institutions was also loosened.

The adjustment was made as the current market environment has changed greatly, which means counter-cyclical macro-prudential policies have given way to a neutral monetary policy, Sun said.

Sun said interest rates are primarily determined by economic fundamentals.

While remaining stable against a basket of currencies, the yuan has been on an upward trajectory against the U.S. dollar this year due to the weakening greenback and steady expansion of the Chinese economy.

It is widely believed that the renminbi interest rate has fully reflected China's economic fundamentals and is broadly keeping at a reasonable equilibrium, Sun said.

"While the renminbi interest rate moving toward equilibrium, market expectations tend to be rational, cross-border capital flows and foreign exchange supply and demand become more balanced," said Sun.

A neutral monetary policy could improve liquidity and better serve the real economy, Sun added.

The central parity rate of the Chinese currency, the yuan, strengthened for the 11th consecutive working day to a fresh high against the U.S. dollar Monday.

The central parity rate of the yuan strengthened 35 basis points to 6.4997 against the U.S. dollar, breaking the psychologically important 6.5 barrier for the first time since May 2016, according to the China Foreign Exchange Trade System. It is the longest continuous daily rising sequence since 2005.

"The appreciation of the RMB against the U.S. dollar this year has been driven by a combination of U.S. dollar weakness, China's tighter management of capital outflows, reduced risk of large scale U.S.-China trade war, and improved economic performance and market sentiment on China," said UBS economist Wang Tao in a research note.

China's economy expanded 6.9 percent in the first half, well above the target of around 6.5 percent for the year.

Its manufacturing activity expanded for the 13th consecutive month in August, providing fresh evidence of a firming economy.

Forex reserves rose for the seventh month in a row in August to 3.092 trillion U.S. dollars, increasing 10.8 billion dollars from a month earlier.

China has decided to pursue a "prudent and neutral" monetary policy in 2017, applying a full range of policy instruments to maintain basic stability in liquidity and hold interest rates at an appropriate level.

 

[B.I.B.]

More and and more charging points are being built. That means you can charge your EV even if you live in an apartment.

Charging at these charging points can still be frustratingly slow though.70% charge in 30 minutes in comparison with getting petrol which takes me around 5mins.

 

[SamuraiBlue]

Charging at these charging points can still be frustratingly slow though.70% charge in 30 minutes in comparison with getting petrol which takes me around 5mins.

Forget charging points, at the moment the total amount of EVs on the road consists of of only 1% of the total number of cars on the road.
If that number grows to even 20% within 5 years the power grid will be completely overwhelmed and black outs will become an everyday event especially during the hot surging days when everyone is blasting their air conditioner while charging their cars at the same time. Power plants do not suddenly grow over night. It takes years to construct and more importantly the grid can only sustain so much energy at one time. Too much power input at one source and will blow the transformers.
Basically you'll need a separate power grid.
I am not limiting this just china but the entire world. The Europeans who announced this first are only kidding themselves if they truly believe they can do it within the time scale they drew up.

 

[AssassinsMace]

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There goes that belief that foreign outsourcers that are leaving offer the best jobs in China thus the threat of ending outsourcing to China will collapse the economy is just wishful thinking. Yes, Steve Bannon, be afraid... Be very afraid.

 

[broadsword]

E="SamuraiBlue, post: 473115, member: 10675"]Forget charging points, at the moment the total amount of EVs on the road consists of of only 1% of the total number of cars on the road.
If that number grows to even 20% within 5 years the power grid will be completely overwhelmed and black outs will become an everyday event especially during the hot surging days when everyone is blasting their air conditioner while charging their cars at the same time. Power plants do not suddenly grow over night. It takes years to construct and more importantly the grid can only sustain so much energy at one time. Too much power input at one source and will blow the transformers.
Basically you'll need a separate power grid.
I am not limiting this just china but the entire world. The Europeans who announced this first are only kidding themselves if they truly believe they can do it within the time scale they drew up.

So you have everything worked out and countries like India and UK which plan to make EVs compulsory will suffer. How I wish every Japanese engineer were like you.