Recency bias is a well known cognitive bias. San Francisco is also 0.2% of the United States. There’s also far more media and information access that brings all the issues in the world easily accessible instead of being filtered by one of 3 tveditors (nbc, cbs, or abc)
"Recency bias" is called following current tends. Comparing 30 year old data is called history.
Home ownership rates are well within their historic average -
By whom? By rich older people who are investing or by the young people who need a house to live in? The complaint I'm hearing is that housing is bought up by the rich, inflating prices beyond what's affordable for young people and piling up rent costs.
You bring out cross-sections and/or time-series that last for 2 years but when you look at the decades-long time-series, nearly everything is getting better. There’s no inconsistency.
Sure, the US is much better overall than it was 30 years ago. Once again, that's a very very low standard. It's not easy to find a country in the world that is literally worse off today than it was decades ago even with the spread of technology. This means nothing to America's competitivness.
Also, “the statistical agencies are producing fake data” is the saddest of all the copes (whether applied to the U.S. or China). 70% of the electorate doesn’t have an undergraduate degree - they don’t care about this.
This is acceptable, since that cope was first used by Americans as they could not understand and did not want to believe China's growth. I don't have any desire to go down that route since it's a dead end of "I just don't believe it." But I'm saying that seeing all these horrendous new trends in the US makes it hard for me to believe that the US is actually getting better, although I was thinking in the few years prior to and after COVID as a comparison, not some decades-long trend. If America is worse off in absolute terms today than it was 30 years ago, it's fried. It's not competition for China, not even for Russia. I never held that low of a standard.
COVID would’ve caused many indicators to get worse, regardless of governance.
Yes, but plummetting and mild depressions are different and they do rely on governance. Looking at American vs Chinese GDP post COVID, as well as the death rates, it's easy to see that Chinese governance far surpassed American governance to the point that they cannot both be classified as "reasonably good." But then again, I keep losing track of the unique fact that you don't compare; you want to talk about the US in a vacuum.
The CSRC itself has said they want to deepen capital markets substantially
Relatively new effort, isn't it? We'll see whether the powers of the CCP can shine through this time, as it always has when they specified something as a goal. I don't think it is an old, long-standing effort through the decades.
It’s a comparison across time to the tigers at similar levels of gdppc. China is growing slower than what you’d expect if you used those countries as reference points (see pg. 6 -
)
Once again, that's a totally useless comparison. The tigers were lifted by the US and the West while China has risen through opposition from the US and West. Also, the tigers are small, and easy to lift, like a lemonade stand being patronized by a megacorp, while China is building the megacorp of megacorps. A little stand grows 100% when it sells 20 cups of juice today to the 10 cups it sold yesterday but growing a megacorp while fighting off rival megacorps is a far different story. Hence, they cannot serve as reference points to each other.
If China had uniquely high levels of technological deepening, its gdp growth would be faster.
Faster than what? It's faster than every other major economy but it means nothing to say, 'If you were better, you would have done even better than you did." LOL
Simple example: only 70% of rural China has access to a toilet (
)
1. China is a developing country.
2. Rural China is the poorest subset of China.
3. Of these, several obstacles existed aside from economic including tradition and desire in rural and sometimes tribal/ethnic communities.
4. Despite this, China is capable of pinpointing the problem and eradicating it with visible progress every year on a schedule and that shows a lot more positive about China than whether 93% or 95% currently use a toilet.
No: if China was managed by supremely competent people, evergrande shouldn’t have gone bankrupt (financial regulators should’ve stopped it sooner), securities regulators should’ve found a better way of channeling private Chinese savings to capital formation, and China would be growing faster than tigers at similar levels of development.
No.
1. Supremely competent doesn't mean perfect.
2. Evergrande is a private company; that its bankruptcy was well-managed and buffered by the government and did not devastate gdp growth shows supreme competency of the CCP.
3. China is not comparable to Tigers; if China wasn't supremely managed, it would be a boot-licking tiger instead of the only country that drives the US to make fear-fueled bad decisions like electing Trump and attempting to gloss over COVID.
The best managed country of all the wealthiest countries is “reasonably well managed”. Sadly, we live on planet earth and deal with constraints of public and asymmetric information and are governed by humans.
Sure, just much less so than China. Being much lower than supremely well-managed is still reasonably well, especially compared to what Europe has recently become.
Only 3% of us household spending are used to buy things made in China -
Another user tackled this.
The U.S. is able to create fairly large headaches for China, create an unfavorable political environment for China, make the entire Chinese business class uniformly suffer a sentiment shock and all at the cost of what? CPI being 0.1% higher and 1 quarter of gdp growth? The U.S. is important for Chinese corporates: China isn’t important for US corporates. Such is the case when you are a massive and large economy isolated from the rest of the world.
The US tried everything to stunt China's growth but it failed. It used powers that were beyond its own, marshalling all of its followers, willing and forced, and all they managed to do was send their own economies into stagnation/recession (especially if they thought they could economically challenge Russia at the same time) while hardening China's economy against outside disruption. America is the ringleader; it delegates the damage that it takes onto others, which is why the US economy fares better than its own henchmen's. It is not isolated but it is cushioned by their economies. And despite this, despite every effort and despite grinding its allies and tools down, it still fares much worse than China's economy, a trule testament to the saying that what doesn't kill you only makes you stronger, both in size and in quality, which is buttressed by technology. The price that America pays is not devolving into something subpar to what it was 30 years ago; the price it pays for using its stunts and tricks against China and failing, is that it wears down its own weapons and cushions while providing training that strengthens its enemy. Remember, the goals are different; America can only win by sabotaging China, while China wins by default growing faster than the US so it has no reason to meet sabotage attempts with the likes. Trump's or Biden's new antics are not an escalation in America's force, they've exhausted their efforts trying to bow China already. What escalates further is only their desperation as their shields thin, their spears blunt, and China's growth into the most critical areas of technology accelerates.
And here we are again. You don't care about that. You just care that America's better off in absolute terms than it was 30 years ago. LOL