Chinese Economics Thread

Wrought

Wrought

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Xinjiang's exports to the US are up 265% despite many sanctions, and also in contrast with broader Chinese exports. Mostly consumer goods.

US-bound shipments from the Xinjiang Uygur autonomous region rose 265 per cent year on year to US$2.4 billion in the first seven months of the year, Chinese customs data showed. The increase is startling given China’s overall exports to America have fallen sharply since US President Donald Trump imposed high tariffs on the country’s goods earlier this year, with shipments
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in August.

According to the data, the surge was largely driven by a large uptick in shipments of holiday decorations from Xinjiang to the US. Exports of Christmas decorations totalled US$151.7 million during the January-July period – 20 times the amount during the same period last year. Holiday entertainment items – such as magic show equipment – were the second largest export category, followed by toys and models. Both showed sharp year-on-year increases, rising from about US$20 million to US$108.2 million and US$71.4 million, respectively.
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Wrought

Wrought

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Illicit financial flows are indeed a rare opportunity for win-win cooperation. Bessent not being an idiot for once.

“The money laundering is the result of fentanyl sales, and both the People’s Republic of China’s government and the US government and citizens are hurt by the money laundering,” he said. Bessent added that modern money laundering networks were the “offspring” of groups originally designed to evade China’s capital controls and had since morphed to serve
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. “We discussed ways we could work together and the Chinese delegation was very keen to work with us. It was an area of extreme agreement,” he said.
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mossen

mossen

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supercat said:
As though we need more evidence that China's GDP has been underestimated grossly.
https://twitter.com/i/web/status/1965108412590510180
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According to the chart posted, India(!) has a greater share of world manufacturing than Japan. In nominal GDP, Japan's manufacturing world share is about 7% and India is at 3% which seems much more realistic. China is at 30% in nominal GDP world market share.

PPP makes sense for comparing standard of life, e.g. prices can be cheaper in poorer countries for similar quality services. But it doesn't make sense for industry. A haircut is similar everywhere. But the industrial robots that China is producing today is probably vastly superior to almost anything produced anywhere except perhaps Japan. PPP cannot easily capture those quality differences, because it assumes a lot of prices differences are just due to baumol's cost disease. And that's not necessarily true for industry.

Ideally, we would have nominal GDP for "hard metrics" like industrial production and PPP for "soft metrics" like healthcare spending. But mixing and matching like this would be much more difficult than the current approach of either picking just PPP or nominal.
 
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