Jura The idiot
General
hey Hendrik... I'm guessing you'll like this press-release:
China's market regulator to secure fair competition between public and private firms
Xinhua| 2018-11-06 00:06:49
Chinese Economics Thread
- Thread starter Norfolk
- Start date
China's market regulator to secure fair competition between public and private firms
Xinhua| 2018-11-06 00:06:49
Equation
Lieutenant General
So long Silicon Valley and hello Shenzhen, China!
New Economy Forum
China's Tech Boom Fueling `Reverse Brain Drain,' Hillhouse Says
Zhang Lei Photographer: Justin Chin/Bloomberg
The technology-led transformation sweeping through China has inspired its scientists to come back in droves, Hillhouse Capital Management Ltd. Chairman Zhang Lei said at the New Economy Forum sponsored by Bloomberg.
“Look at how many scientists are coming back to China,” said Zhang, who founded Hillhouse with money from a Yale University endowment. The fund, which backed Chinese e-commerce giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd., raised more than for its third and largest buyout fund in September.
Zhang has been on the prowl for opportunities in health care, consumer, technology and services industries. The firm is also said to be seeking to raise to invest in beaten-down Chinese stocks after this year’s market rout. He said that in China and Asia, innovation isn’t beholden to traditional ways of doing business and building products. On the same panel, Grab co-founder and Chief Executive Officer Anthony Tan cited the rise of “super apps” in China and Southeast Asia that can handle payments, deliveries and ride-hailing within a single smartphone application.
“Innovation is also going beyond the digital revolution,” Zhang said. “You can walk away without your wallet and I think that actually inspires a completely different set of companies born in that digital, savvy and mobile-native environment.”
The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.
AssassinsMace
Lieutenant General
Yes Scooter Braun meet reality. Interesting... what will Ariana Grande do? This is not her first offense. I once saw a clip of what looked like a racist image in one of her music videos. It was one of the early stereotypes of Hollywood had of how non-white men lust after white women. It's the image of a stereotypical Fu Manchu Chinese man with the devil mustache and beard capturing a white woman and holding her hostage but in her video Ariana Grande is in place of the white woman. She's chained cowering at the feet of a diabolical Chinese man.
I've seen this before on Mexican television where they take the place of white women in racist stereotyping. When I was a kid I remember a skit where Japanese ninjas were chasing after a Mexican woman on a beach. This was when the Japanese were the big threat to the US. Then after almost twenty years I'm channel surfing and I see the exact same skit redone but this time it was a bunch Chinese kung fu guys chasing after a Mexican woman on a beach.
Scooter and Ariana might've just pulled a United Airlines. Certainly Scooter Braun is thinking of the possible crap storm and backlash he might be facing. Let's not forget Apple's possible role since they did exactly everything Scooter Braun said at first what was going to happen..
Jura The idiot
General
Jura The idiot
General
Hendrik_2000
Lieutenant General
Good news keep rolling steady as she goes. I guess it will disappoint China basher that drive noisy propaganda that Sky is falling in China
China’s economy holds up in October: UBS
Data shows economic activity steady after dropping in September
By ASIA TIMES STAFF NOVEMBER 10, 2018 5:21 AM (UTC+8)
New economic data from UBS suggests that China’s economy is steady as she goes, with growth holding up in October following a dip in September.
“Our analysis of UBS Evidence Lab data indicates October economic activities have held up well after a collapse in September. We expect industrial production to bounce back with improving imports and exports growth, retail sales (ex-autos) growth to improve from last month, manufacturers’ automotive sales growth remains soft,” a report released on Friday said.
“Property sales growth have flattened, and property investment growth continues upwards,” the report noted.
The measures from UBS provide a snapshot ahead of official releases using third-party data sources and are most accurate in predicting momentum in economic activity with regard to industrial production and auto sales, according to economists at the bank.
The indication that China’s economy may be holding steady come amid public concern from policymakers in Beijing regarding the economic slowdown.
The People’s Bank of China said Friday in a monetary policy implantation report that the country’s economy was facing downward pressure, the latest in a series of public comments from government officials signaling need for supportive policies.
China’s economy holds up in October: UBS
Data shows economic activity steady after dropping in September
By ASIA TIMES STAFF NOVEMBER 10, 2018 5:21 AM (UTC+8)
New economic data from UBS suggests that China’s economy is steady as she goes, with growth holding up in October following a dip in September.
“Our analysis of UBS Evidence Lab data indicates October economic activities have held up well after a collapse in September. We expect industrial production to bounce back with improving imports and exports growth, retail sales (ex-autos) growth to improve from last month, manufacturers’ automotive sales growth remains soft,” a report released on Friday said.
“Property sales growth have flattened, and property investment growth continues upwards,” the report noted.
The measures from UBS provide a snapshot ahead of official releases using third-party data sources and are most accurate in predicting momentum in economic activity with regard to industrial production and auto sales, according to economists at the bank.
The indication that China’s economy may be holding steady come amid public concern from policymakers in Beijing regarding the economic slowdown.
The People’s Bank of China said Friday in a monetary policy implantation report that the country’s economy was facing downward pressure, the latest in a series of public comments from government officials signaling need for supportive policies.
Hendrik_2000
Lieutenant General
Well here is the alternative read fake Chinese economy vs real Chinese economy
Fact-Checking Trump’s Claims About the Chinese Economy
At a news conference, the president answered a question about healing national divides by saying, falsely, that he had forced China to back down from a plan to strengthen its manufacturing industry
By Raymond Zhong
Nov. 9, 2018
What Trump said
If you know, China has come down tremendously. Tremendously. China would have superseded us in two years as an economic power; now, they’re not even close.
This is exaggerated.
It’s true that China’s growth is slowing. The economy expanded 6.5 percent in the three months that ended in September, the slowest pace in almost a decade. (Those are the official numbers, at least. Many economists believe Beijing’s statistics are implausibly smooth and do not square with outside estimates.)
But even if China’s growth rate hadn’t slowed, the country was hardly about to eclipse the United States in two years. Last year, Chinese economic output totaled $12.2 trillion, according to the World Bank. The American economy’s output totaled $19.4 trillion. Assuming the two economies kept growing at last year’s rates, it would still take around a decade for China to surpass the United States.
What Trump said
China got rid of their “China ’25” because I found it very insulting. I said that to them. I said, “China ’25” is very insulting, because “China ’25” means, in 2025, they’re going to take over, economically, the world. I said, “That’s not happening.”
False.
President Trump is presumably referring to Made in China 2025, a 2015 government plan for modernizing Chinese manufacturers through state support and intervention. The Trump administration has repeatedly held up the plan as evidence that China unfairly privileges its own companies over foreign competitors in the Chinese market. The administration says its tariffs against China are intended in part to compel Beijing to change these practices.
Perhaps in response to all the attention the plan has received, Chinese officials have lately stopped mentioning Made in China 2025 by name. News outlets have been ordered to keep it out of their stories.
But there is no indication that Chinese companies have halted or reversed their plans to upgrade their capabilities, or that officials are any less interested in catching up in areas like microchips.
“Chinese companies are trying to reach the technological frontier, and they’re continuing to pursue these plans even if the government has stopped being vocal about Made in China 2025,” said Dan Wang, a tech analyst for the research firm Gavekal Dragonomics. “Firms and the government have already invested billions into plants producing semiconductors, robotics, aviation equipment and other high-technology goods.”
Also, even if the plan’s goals are eventually met, it is debatable whether that would mean China will have taken over, economically, the world. The plan includes semiofficial targets for how much Chinese manufacturers sell by 2025 … in China.
What Trump said
But I have to say this: Billions of dollars will soon be pouring into our Treasury from taxes that China is paying for us.
False.
When the United States places tariffs on Chinese imports, China doesn’t pay them. American importers do. And they might pass along the extra costs to American consumers. (Tariffs can still hurt Chinese companies, of course, if the higher cost means Americans stop buying their products.)
Mr. Trump may be correct that Washington will soon be raking in more money thanks to the tariffs. China’s exports to the United States have risen recently despite the new levies. But that may just be because American buyers and Chinese sellers want to move as much product as they can before the spiraling trade war leads to even higher tariffs.
Fact-Checking Trump’s Claims About the Chinese Economy
At a news conference, the president answered a question about healing national divides by saying, falsely, that he had forced China to back down from a plan to strengthen its manufacturing industry
By Raymond Zhong
Nov. 9, 2018
What Trump said
If you know, China has come down tremendously. Tremendously. China would have superseded us in two years as an economic power; now, they’re not even close.
This is exaggerated.
It’s true that China’s growth is slowing. The economy expanded 6.5 percent in the three months that ended in September, the slowest pace in almost a decade. (Those are the official numbers, at least. Many economists believe Beijing’s statistics are implausibly smooth and do not square with outside estimates.)
But even if China’s growth rate hadn’t slowed, the country was hardly about to eclipse the United States in two years. Last year, Chinese economic output totaled $12.2 trillion, according to the World Bank. The American economy’s output totaled $19.4 trillion. Assuming the two economies kept growing at last year’s rates, it would still take around a decade for China to surpass the United States.
What Trump said
China got rid of their “China ’25” because I found it very insulting. I said that to them. I said, “China ’25” is very insulting, because “China ’25” means, in 2025, they’re going to take over, economically, the world. I said, “That’s not happening.”
False.
President Trump is presumably referring to Made in China 2025, a 2015 government plan for modernizing Chinese manufacturers through state support and intervention. The Trump administration has repeatedly held up the plan as evidence that China unfairly privileges its own companies over foreign competitors in the Chinese market. The administration says its tariffs against China are intended in part to compel Beijing to change these practices.
Perhaps in response to all the attention the plan has received, Chinese officials have lately stopped mentioning Made in China 2025 by name. News outlets have been ordered to keep it out of their stories.
But there is no indication that Chinese companies have halted or reversed their plans to upgrade their capabilities, or that officials are any less interested in catching up in areas like microchips.
“Chinese companies are trying to reach the technological frontier, and they’re continuing to pursue these plans even if the government has stopped being vocal about Made in China 2025,” said Dan Wang, a tech analyst for the research firm Gavekal Dragonomics. “Firms and the government have already invested billions into plants producing semiconductors, robotics, aviation equipment and other high-technology goods.”
Also, even if the plan’s goals are eventually met, it is debatable whether that would mean China will have taken over, economically, the world. The plan includes semiofficial targets for how much Chinese manufacturers sell by 2025 … in China.
What Trump said
But I have to say this: Billions of dollars will soon be pouring into our Treasury from taxes that China is paying for us.
False.
When the United States places tariffs on Chinese imports, China doesn’t pay them. American importers do. And they might pass along the extra costs to American consumers. (Tariffs can still hurt Chinese companies, of course, if the higher cost means Americans stop buying their products.)
Mr. Trump may be correct that Washington will soon be raking in more money thanks to the tariffs. China’s exports to the United States have risen recently despite the new levies. But that may just be because American buyers and Chinese sellers want to move as much product as they can before the spiraling trade war leads to even higher tariffs.
Alibaba just eclipsed Amazon’s estimated Prime Day sales in less than 10 minutes
- had already generated more sales on 2018 – just 10 minutes into the 24-hour shopping event – than is estimated to have reached in its record-setting 2018 .
- Singles’ Day has topped $6.5 billion in sales already, 20 minutes into its 11/11 event, which kicked off at midnight on Sunday in Shanghai.
- For comparison, Amazon’s sales were estimated to reach roughly $4.2 billion over the company’s 36-hour Prime Day in July.
Less than 10 minutes in, Alibaba’s massive 24-hour online shopping extravaganza had generated more than $4.68 billion in sales. Twenty minutes in, sales had surpassed $6.5 billion.
In 2017, Alibaba’s Singles’ Day sales exceeded $25 billion.
While not an exact comparison, Amazon’s total sales are estimated to have topped $4.2 billion over the company’s 36-hour Prime Day in July 2018, Amazon does not release Prime Day sales figures, but the company said it was “the biggest shopping event in Amazon history,” exceeding sales from Cyber Monday, Black Friday, and the previous Prime Day.
Total online sales on Black Friday reached $5 billion in 2017, according to Adobe Analytics data. Cyber Monday sales were roughly $6.6 billion.
Over the last decade, Alibaba has almost single-handedly turned Singles Day – November 11, or 11/11 – into a cultural phenomenon and by far the biggest day of the year for online shopping.
The explosive start to Singles’ Day comes as little surprise, despite some recent shakiness in the Chinese economy. Gross merchandise value encompasses value generated globally across Alibaba’s swiftly expanding ecosystem, which includes Taobao.com, Tmall, and concepts that blend online and offline sales, like the supermarket chain Hema.
A decade of skyrocketing 11/11 sales brings an added pressure to post ever-higher figures, according to Dr. Daniel Zipser, a McKinsey & Company senior partner who leads its consumer and retail practice in Greater China.
“The whole world is looking,” when it comes to GMV figures, Zipser told Business Insider on Saturday.
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My comments:
All the more news of such developments are being accelerated by the US sanctioning others, trade war, pushing allies away, disengagement from international institutions & preference for bilateral engagements instead will present more opportunities for Chinese influence & cooperation around the globe precisely at a time when both Chinese economic heft and confidence is being more and more obvious.
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Pakistan, China Ditch US Dollar for Yuan in Bilateral Trade
The world's second-largest economy, China has been largely dominating in its economic relations with Islamabad, with Chinese exports making up 87 percent of the trade.
Pakistan and China have agreed to walk away from the US dollar in bilateral relations and do trade in yuan, Islamabad announced on Tuesday.
"China and Pakistan agreed to start trading in the yuan instead of the dollar," Information Minister Fawad Chaudry told the media in Islamabad, as quoted by the .
According to Chaudry, the agreement will help Islamabad save up its US-dollar-denominated assets, given the massive 87-percent trade deficit with China (estimates it to be $12.66 billion).
READ MORE:
Ditching the American currency would also mean Islamabad and China using yuan in transactions within the China-Pakistan Economic Corridor, a $60 billion-worth infrastructure project funded by China that aims to boost the region's integrity by connecting the Pakistani port city of Gwadar and the Xinjiang Uyghur Autonomous Region via a network of transportation routes.
© AFP 2018 / FRED DUFOUR
The greenback has long dominated the global financial system, but it has received a series of blows here and there in recent times, with China probably making the strongest case. Earlier this year, the world's biggest oil buyer .
for paying for Russia's energy and defense equipment in rupee, while to inject over 2 billion worth of dollars in euros or yuan into its economy in response to Washington's sanctions against Maduro's policies.