Chinese Economics Thread

Hendrik_2000

Lieutenant General
Making Chinese content accessible is a crucial step and efforts like this are great but not enough, a lot of Chinese content itself needs improvement in various aspects of quality especially when it comes to meaning not being lost in translation.

The problem is the Chinese news or media tend to give the straight fact and by showing selective selection of success. For most people it is dry and smack of propaganda. Because there is limited choice of media that the Chinese can use mostly TV report or video

The west couch there message in wide variety of media like Hollywood movie, music, fashion, livestyle, glossy magazine.gadget, internet video, etc
And the message is couched in sublime consciousness so it more marketable and easy to digest

Like when you saw the Hollywood movie. the women always beautiful,slim and sexy. You don't see the 200 # overweight women, sloppily dress like the one you find in the Walmart isle

The house is always nice and with white picket fence in leafy suburb. Perfect family to reflect a perfect society No drug addict here or poor homeless people

Everything is perfect reflection a wealthy and successful nation. Of course the plot and live action is the best
And they have been spoon fed this narrative for generation So how can china compete?

It will be a while until China has that kind of softpower.
But to start they can lay the record straight using whatever mean they have in hand
 
I noticed as it's Breaking News at gazeta.ru right now (
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):
Trump's China trade crackdown coming Monday

08/11/2017 09:02 PM EDT
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President Donald Trump is ready to launch a new trade crackdown on China next week, an administration official confirmed.

Trump on Monday will call for an investigation into China over allegations that the nation violated U.S. intellectual property rights and forced technology transfers, the official said. While it's unclear how much detail Trump will get into in the announcement, administration officials expect U.S. Trade Representative Robert Lighthizer to open an investigation against China under
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of the Trade Act of 1974.

The pending announcement comes amid heightened tension between the United States and China, even after the Trump administration scored a victory in persuading Beijing to sign onto new United Nations sanctions on North Korea.

It is not clear whether China has the motivation to close off the spigot entirely with North Korea. China is North Korea's main trading partner, and it is
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in seeing the economic collapse of the regime, which could send a flood of refugees into China and destabilize its northern provinces.

The ordering of the investigation will not immediately impose sanctions but could lead to steep tariffs on Chinese goods. Trump has expressed frustration in recent months over what he sees as China's unfair trade policies.

The closely watched announcement appears to have bipartisan support, although Democrats have accused Trump of not being tough enough on trade.

Trump suggested in comments to reporters on Thursday that he might be more lenient on China if officials take more aggressive action to stop North Korea from developing a nuclear weapon that could strike the United States. But it appears his longstanding frustration with China has remained.

Trump told reporters in New Jersey that he would call Chinese President Xi Jinping on Friday night to discuss North Korea. "We have been working very closely with China and with other countries," he said.

The president was slated to announce the China trade action last week. But the announcement was delayed amid sensitive negotiations with China over the UN sanctions.

Still, Trump has delayed trade action before, amid pressure from business groups and major trading partners.

Two Commerce Department reports examining whether to restrict steel and aluminum imports on national security grounds were expected by the end of June but have been bottled up in an internal review. Trading partners raised threats of retaliation and domestic steel users complained of being hurt by price increases and restricted supply.

There also has been no sign of a third pending report, examining the causes of significant bilateral trade deficits, which was also due by the end of June,

Business groups, however, may welcome Section 301 action, because companies have complained they are often forced to share valuable technology with Chinese counterparts as a condition of doing business in the country.

Section 301 allows the U.S. to take unilateral action against countries that impose barriers to U.S. exports. That could take the form of increased import duties, but that would likely violate WTO rules. So the administration could look for some other form of retaliation, like restricting Chinese investment in the United States.
 

Equation

Lieutenant General
I noticed as it's Breaking News at gazeta.ru right now (
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):
Trump's China trade crackdown coming Monday

08/11/2017 09:02 PM EDT
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There's a difference between trade investigation and trade sanctions. There's no way in hell will Trumpy go toe to toe with China in the later. That would result in a trade war that American can't afford.
 
oh yes, I read
Spotlight: China continues to flourish under CPC governance Xinhua| 2017-08-13 13:23:34
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The world is witnessing two dramatic scenarios: the world economy recovering sluggishly after the global financial crisis; and the West mired in an unprecedented institutional crisis, while China constantly creates social and economic miracles, showcasing its growth path based on socialism with Chinese characteristics.

Looking at the ruling parties around the world, very few have been at the helm for more than 30 consecutive years. Yet, the Communist Party of China (CPC) has governed for 68 years and continues to improve living conditions for its people, providing valuable experience for political parties worldwide on long-term governance.

As American China expert Robert Kuhn said, the key to the Chinese miracle is the extraordinary long-time leadership of the CPC.

A GUIDING IDEOLOGY

When the world hit by financial crisis in 2008, sales of "Das Kapital", the works of Karl Marx, almost tripled, according to German publishing house Karl-Dieztz-Verlag. "Rediscovering Marx" suddenly became in vogue, with the West reflecting on the crisis.

As U.S. economist Robert Heilbroner said, we should learn from Marxism in order to advance human society.

Marxism reveals the universal truths of human development. The CPC has always persisted in taking Marxism as its guiding ideology and made it the thought core to unite hundreds of millions of the Chinese people.

The CPC has combined Marxism with China's conditions on the ground to create a unique ideology shaped by Chinese characteristics.

BUILT FOR PUBLIC, WORK FOR PEOPLE

This April, Uruguayan Broad Front Party President Javier M
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da led a delegation to Nujiang Lisu Autonomous Prefecture in Yunnan Province to study China's targeted poverty relief work.

What he witnessed left him deeply impressed.

As president of a ruling party for three terms, Miranda knew only too well how difficult it was for a party to maintain long-term rule.

The most important responsibility of a ruling party is to ensure social justice and equity, and the CPC has established an example for other ruling parties, he said.

"Under CPC leadership, China has not only maintained rapid economic growth, but also let the development fruits benefit wide-ranging areas including the people's living conditions, health care and public education," he said, adding that this experience is something foreign ruling parties can learn from.

The key to the CPC's success is that the party always takes the people as the center of development. It insists on developing for the people, by the people, and sharing achievements with the people.

Aikyn Konurov, secretary of the Central Committee of the Kazakh Communist People's Party, said, "CPC officials know the Chinese people well. They always put the public interest first, which is the fundamental difference between the CPC and ruling parties in Western countries."

In the contemporary world where traditional ruling parties face the risk of shrinking public support, the CPC has developed with time by absorbing people from different classes, and trying to reach consensus among the majority of people.

PARTY DISCIPLINE

"Are China's leaders better than ours?" asked the U.S. magazine Politico.

The CPC's cadre group is selected through a rigorous process, while some members of the public can edge into the U.S. Congress by currying favor with voters through a claptrap.

By comparison, the Politico asked: "How certain are we that whichever leaders come out of our process (general selection), of whatever party and persuasion, can stand on equal footing with whomever comes out of theirs (China's)?"

U.S. magazine the Diplomat said that the CPC appoints cadres through performance and capability, in manner that even successful businesses cannot replicate.

When interpreting China's development miracle, Singapore founder Lee Kuan Yew said it is the most capable figures among 1 billion-plus people who are steering the country to greatness.

The CPC attaches great importance to party building and appoints officials based on their performance and competence to ensure solid governance.

Furthermore, the party is constantly strengthening discipline within its ranks.

Specifically, the CPC has established the Central Inspection Group, which is considered an intra-party strategic plan to protect itself from being contaminated by any political speculator.

Since the 18th National Congress of the Communist Party of China in 2012, the CPC Central Committee under
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's leadership has insisted on addressing the "four forms of decadences (si feng)" -- formalism, bureaucratism, hedonism and extravagance.

The party's crackdown on corruption and other misconduct shows the general public the CPC's ambitions to eliminate injustice in order to raise the morale of the party and the people.

Gustavo Girado, head of Argentine consulting firm Asia & Argentina, said the CPC can plug up loopholes in its system because it excels in self-correction.

The anti-corruption campaign launched by Xi is a good example of this, Girado added.

STRATEGIC WISDOM, PLANNING FOR FUTURE

Partisanship is a deep-rooted problem in Western democracies. Struggles between executive and legislative branches and "Veto Games" have resulted in the failure to enact much needed legislation. Special interest groups "kidnap" policies through lobbying, and different parties coming into power often leads to reversal of state policies, resulting in a massive loss of time and resources.

According to Professor Huang Xianghuai of the Party School of the Central Committee of CPC, while there exists the so-called "economic cycle of elections" in the West, the CPC has guaranteed the long-time stability of the state's fundamental policies.

Having benefitted from successive governing, the CPC has built up its capacity for formulating strategies for the country's economic and social development.

Take the Five-Year Plans as an example. From large-scale industrial construction to creating a moderately prosperous society, the CPC has accomplished the greatest modernization project history has ever seen over the past 60 years.

"China is fully confident of the future," said Konurov from the Kazakh Communist People's Party, "because it has planned every step and will never give up the goal of working for the well-being of the people."
 
Saturday at 8:13 AM
I noticed as it's Breaking News at gazeta.ru right now (
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):
Trump's China trade crackdown coming Monday

08/11/2017 09:02 PM EDT
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now
Chinese Foreign Ministry: No future in trade war with US

2017-08-14 19:26 GMT+8
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There is no future in a trade war between China and the United States, Chinese Foreign Ministry spokeswoman Hua Chunying said at a regular press conference on Monday, stressing trade and the DPRK issue should not be linked.

"I must emphasize that China-US relations should be based on mutual respect for each other's major interests and concerns," said Hua.

Hua made the remarks amid speculations that the US may launch an investigation into Chinese trade practices in an effort to pressure Beijing on the DPRK crisis.

"The Korean Peninsula and trade are different issues. The two nations should respect each other and enhance cooperation over these issues," said Hua. "It's highly inappropriate to use one issue to put pressure on the other."

US President Donald Trump is expected to sign an executive order on Monday, calling for an investigation into allegations of forced Chinese acquisition of technology and intellectual property from US firms.

Trump has accused China of doing "nothing" but "talk" with the DPRK, and indicated a tougher stance on trade relations.

The possible inquiry will be under Section 301 of the Trade Act of 1974, which allows the US president to unilaterally impose tariffs or other trade restrictions to protect US industries from "unfair trade practices" of foreign countries.

'Interwoven interests'

Commenting on China-US trade relations, Hua underscored the extensive "interwoven interests" between the two countries, stressing that neither of them will emerge as the winner in a trade war.

The two countries enjoy mutual benefits and should engage in win-win cooperation, she said.

The first China-US Comprehensive Economic Dialogue was held in America last month and charted the course for bilateral economic cooperation, which Hua called the "most important outcome" of the dialogue.

The two sides agreed to be committed to the principle of win-win cooperation in trade, resolve differences through dialogue and consultation, as well as maintain communication on major economic policies.

Hua said China is willing to find a proper way to solve trade problems with the US on the basis of mutual respect and mutual benefit, adding that the Chinese government always attaches great importance to the protection of intellectual property rights and has made progress that is "obvious to all".

"A member of the World Trade Organization (WTO) should follow WTO rules when taking trade measures," she said.

Washington's Section 301 of the Trade Act of 1974 fell into disuse after the creation of the WTO.

Meanwhile, the Ministry of Commence announced on Monday the decision to ban DPRK imports of coal, iron, iron ore, lead, lead ore and seafood, starting from Tuesday.
 
Saturday at 2:13 PM
I noticed as it's Breaking News at gazeta.ru right now (
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):
Trump's China trade crackdown coming Monday

08/11/2017 09:02 PM EDT
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and most recently
3:56pm EDT
Trump signs memo directing probe into China's IP practices
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U.S. President Donald Trump on Monday signed a presidential memorandum authorizing an investigation into China's alleged theft of American intellectual property, declaring it "one big move."

The order directs U.S. Trade Representative Robert Lighthizer to determine whether to investigate Chinese trade practices that force U.S. companies operating in China to turn over intellectual property.

"Ambassador Lighthizer you are empowered to consider all available options at your disposal," Trump said before he signed the memo. "This is just the beginning," Trump added.
 
Yesterday at 10:11 PM
Saturday at 2:13 PM
and most recently
3:56pm EDT
Trump signs memo directing probe into China's IP practices
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now I read
China expresses "grave concerns" about new U.S. memorandum
Xinhua| 2017-08-15 10:42:51
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China's Ministry of Commerce on Tuesday expressed "grave concerns" about an executive memorandum signed by U.S. President Donald Trump to direct a trade representative to examine the so-called China's intellectual property practices.0 "We hope that the U.S. trade representative respects facts and acts with prudence," the ministry said in a statement on its website.

If the U.S. side fails to respect basic facts and multilateral trade rules, and takes measures that harm bilateral economic and trade relations, "China will definitely not sit by, but take all appropriate measures to resolutely safeguard its legitimate rights and interests," it said.
 
now I read
China reclaims its position as largest foreign holder of US Treasuries
Updated 2017-08-16 11:56 GMT+8
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China displaced Japan and reclaimed its position of largest foreign holder of US Treasuries after increasing its holdings for five consecutive months, according to data released on Tuesday by the US Department of the Treasury.

The country's total holdings of US bonds, notes and bills in June rose to 1.15 trillion US dollars after it bought 44.3 billion US dollars of Treasuries that month.

Japan, which had overtaken China on the top spot since last October, sold 20.5 billion US dollars of Treasuries and took its total holdings to 1.09 trillion US dollars in the same month.

The two countries account for over a third of the total foreign ownership of US Treasuries, the figures showed.

China's demand for US Treasuries was driven by strong trade flows between China and the US, and the country's holdings will probably keep growing in future months, according to Thomas Simons, a senior economist at Jefferies LLC in New York.

"I don’t think China’s done buying, given their trade balance with the US," Simons said. “The trade flows are going to create more demand for Treasuries.”

China's foreign exchange reserves rose to 3.08 trillion US dollars in July with increase for sixth straight month, the country's central bank announced earlier this month.
which contains this table:
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Hendrik_2000

Lieutenant General
From Forbes
Cheap labor no more Chinese wages are getting expensive about time they earned a decent wages
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This may be a glass half-full moment. Either China is catching up to parts of Europe in terms of wages, or wages in the newest parts of the European Union are being capped by the global competition for labor, a competition that China wins, hands down. In reality, it's both.

China's median monthly wages in Shanghai
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), Beijing
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) and Shenzen ($
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) are higher than they are in the newest European Union member, Croatia.
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is $887 a month. They joined the EU in 2013.

Shanghai's median wages, in particular, are also greater than two of the newest euro members in the Baltics: Lithuania ($
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) and Latvia (
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), with Estonia, which joined the euro in 2011, recording a median income of $
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per month, according to government figures for 2016.

Over the last 10 years, Europe has sought to incorporate the skilled, lower cost labor pool from Eastern Europe into the fold of the European Union. In 2002, China became more fully integrated into the global labor force when it joined the World Trade Organization. The combination of these two massive labor pools into the workforce set the stage for wage stagnation among lower skilled and assembly line labor worldwide.

In economic jargon, this is described as the ‘flattening of the Phillips Curve’ says VTB Capital economist Neil MacKinnon.

"The impact of globalization and the entry of China into the WTO in 2002 increased the global labor supply markedly," he says. Excess supply of Chinese labor and the stream of low-cost Chinese goods into the world economy was a boon for global consumers, but it also meant that certain products and jobs that were done in Eastern Europe were going to have to compete with cheaper China. Supply chains and markets aside, the biggest cost to a company is its workforce. China's workforce is finally getting paid. Eastern Europe's China-like wages are just par for the course in a world where the motto has become: anything you can do, China can do cheaper.

China sets the price for manufacturing labor and, in the future, e-commerce related logistics. Some Europeans should hope for China's continued pay increases if they want an increase in gross wages themselves.

China's share of world trade (an average of exports plus imports) increased from slightly less than 2% in 1990 to almost 15% today, according to the Bank for International Settlements. Since then, China’s economic markets have joined the global economy, led primarily by its labor force with a capital-to-labor ratio below global standards. China is only now starting to automate.

Eastern Europe's integration into the West is often overlooked.

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U.N.
China and Eastern Europe's integration into the world economy have put wages in new EU nations on par with China's. In the pay race, China is catching up and Eastern Europe is not moving nearly as quickly as the two labor pools are part of a global system that now sets the cost for lower skilled labor.

Over a similar time span, between the 1990s to today, Eastern European countries have fallen out of Russia's orbit and moved Westward. Prior to the fall of communism, these countries had been more or less isolated. Labor was abundant and well educated, but capital and management were limited. So a fruitful combination ensued: Western Europe supplied the money and the management, Eastern Europe supplied the cheaper labor.

The numbers associated with the integration of China and East Europe are staggering. Counting just the potential workforce, the working population in China and eastern Europe between the working ages of 20 to 64 was 820 million in 1990 and hit 1.2 billion by 2015. The available working population in the industrialized countries of Europe was 685 million before the crack-up of the Soviet Union in 1990 and hit 763 million in 2014, a one-time increase of 120% in the workforce that put the brakes on wages for lower skilled workers, according to the BIS.

Using those three Chinese cities as a gauge, their employees' median salaries are higher than those in the poorest section of Europe: the old Communist Balkans.

Just across from the Adriatic Sea on rich Italy's border sits a Chinese-like labor pool. Only they come cheaper, in fact. Chinese workers in Shanghai, Shenzhen, and Beijing, on average, earn more than workers in
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,
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, Bulgaria,
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, and
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, which has a median income of just $896 a month.

Shanghai median wages are not all that much different than Poland's at
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The same goes for the Czech Republic, with its median salary in Prague, its richest city, sitting
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Hungary's gross average wage is right in Shanghai's wheelhouse, at
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China's wage growth is impressive. Great for the Chinese. But it has capped wage growth in many of the lower income states within Europe. What these numbers show is that China's role as manufacturing hub has set the table for any future uptick in wages, especially for the baseline workers in manufacturing, but soon in other new industries like e-
 
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