Chinese Economics Thread
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Seems they should make this visas free policy permanent and even enlarge the number of countries. I see far more advantages than disadvantages in this . Im surprised they didn't do this much earlier actually.
Moreover, it's surprising that it seems its mostly just rich european and gulf countries who are given this privilege. I would have thought China would have included more countried with whom they alogn with geo politically more as well like Iran, Pakistan, Venezuela or even a few african countries etc.
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In due time.
China had a bout with illegal immigration during the early 2010s with up to 100,000 Africans in Guangzhou.
Over time, they'll figure out the best policy.
500,000 is almost insignificant to be honest for a country like China with almost 1.5billion people. . Lol
Moreover according to some statistics there are about 2 million Chinese in Africa, so there are far more chinese in Africa than vice versa. So I don't see the problem here if there are a few hundred thousand Africans in China(plus most can't stay there permanently and eventually leave since China doesn't offer permanent residency just like that and citizenship is out of the question. ). So many eventually have to leave.
I recognise that we have to be realistic as well. Since China obviously prefer giving such visa free access to richer countries (which mostly includes the West, Gulf Arab states and east Asia countries Korea, Japan, Taiwan etc). It makes sense in that regard. There is a reason rocher countries have the most powerful passport with visa free access to much of the world. While poorer countries can barely travel to a few countries visa free. Its the reality of nature.
Its the best of times and worst of times in Chinese real estate - look up the land auction in certain cities (Hangzhou/Chengdu/Shanghai) and things look great.
On the other hand if the city is a Tier 4/5 in Dongbei - NGMI.
It is pretty much always the best/worst times when you compare NYC or San Francisco to Detroit, Cleveland, Baltimore, St. Louis, Cincinnati, Pittsburg, etc.
lcloo
Major
They give visa free entries to many countries other than "rich european and gulf countries". People from 75 countries can enter China on visa free, many are "poor" countreis from Africa and Asia. 75 countries out of 195 countries in the World get visa free entries.
Example we get 90 days visa free entries into China for every 180 days rolling period. Which means Malaysians can stay in China on visa free entries for 6 months every year. And we are not a rich country from South East Asia.
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Realistically they couldn’t have done this until Covid lockdown is over.
I know that, but nothing is static forever. At some point when something is not working properly we ought to be bold enough to change and reform. When Deng took over power after Maos death China was in a far more volatile, dangerous and worse situation than today yet Deng was bold enough to still push for radical unprecedented reforms eventhough many in the party and country were sceptical and even vehemently against these reforms, yet he bold enough to still carry on despite the dangers. He could have just maintain and carry on with the status quo and avoid any risk associated with such radical revokutionary reforms and all the risks that entailed. So I don't think it's good for China to just accept the way her stock and capital markets are at the moment. Its actually embarrassing that for such a great power like China with the world's second largest economy and many high tech companies that her tech champions have to go out of the mainland to list and they don't even consider their homeland at all. This should be a wake up call. The US won't be as welcoming to Chinese companies to list in their market forcer. They are already considering de listing Chinese companies from US markets.
I actually want them to do just that, maybe that's what the party needs to wake up and enact the radical reforms the stock and capital markets needs, at least they can learn from Hong Kong though some still say that its a legacy of British financial market rules/laws. But who cares, if something works then why not copy or learn from it? As Deng said: "it doesn't matter if the cat is black or white as long as it catches mice.". Couldn't have said it better.
I don't think you understand how immensely radical the deliberate popping of the real estate bubble and the subsequent re-orientation of the economy from that to high tech manufacturing is. They are literally remaking the base on which the Chinese economy had stood for the past two decades.
This is epochal change just like the WTO entry in 2001. For the coming decades China will be defined by cutting edge technology and their mass-production.
No one can replicate Deng. In the pantheon of reformers, there is no one else that can rival that position because of that particular slice of time and space.
But there is a level just underneath that and that was the WTO entry engineered by the group around Zhu Rongji. What is happening now is of that magnitude in my opinion.
The truth is once Chinese companies are successful at manufacturing at the high value end of products then the domestic markets advance along with them.