Chinese Economics Thread

[AssassinsMace]

Hi Mace this reminds me of a slightly off topic issue i have been meaning to ask you. There are times I hear about the Bay Bridge .
debarcle .What was the root cause of it alland was China to blame as the people who bring the topic up suggest?

I believe I posted it somewhere here back then. There was an accusation first that the main columns had bad quality welds they blamed China for. They stopped work to investigate and then work went on. If there were as a serious of a problem as charged, they wouldn't have continued work. Then when the bridge was near completion the bolts holding the bridge onto the columns were rusting and snapped. It was impossible to replace at that stage. It was accused that they were from China but they were from the US. Of course people would rather believe the lie. A piece of the old cantilever bridge that the new bridge was replacing broke and fell onto the roadway and they blamed that on China too. That's almost a century old bridge opening in 1936. China wasn't making steel for export back then.

 

[B.I.B.]

I believe I posted it somewhere here back then. There was an accusation first that the main columns had bad quality welds they blamed China for. They stopped work to investigate and then work went on. If there were as a serious of a problem as charged, they wouldn't have continued work. Then when the bridge was near completion the bolts holding the bridge onto the columns were rusting and snapped. It was impossible to replace at that stage. It was accused that they were from China but they were from the US. Of course people would rather believe the lie. A piece of the old cantilever bridge that the new bridge was replacing broke and fell onto the roadway and they blamed that on China too. That's almost a century old bridge opening in 1936. China wasn't making steel for export back then.

Many Thanks

 

[Jura The idiot]

now I read
China's industrial output expands 7.2 pct in Jan-Feb
Xinhua| 2018-03-14 14:13:28

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China's industrial output expanded at 7.2 percent year on year in the first two months, accelerating from 6.2 percent growth in December 2017, official data showed Wednesday.

The growth was faster than the 6.3 percent growth during the same period last year, the National Bureau of Statistics (NBS) said in a statement.

Industrial structure continued to improve, with production in high-tech industries and the equipment manufacturing sector expanding by 11.9 percent and 8.4 percent, respectively.

Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (about 3 million U.S. dollars).

Output of new energy vehicles saw a surge of 178.1 percent year on year during the period, while industrial robot production jumped by 25.1 percent, NBS data showed.

While such rapid growth was partly due to a low comparable base, it indicated that emerging sector expansion is accelerating, according to NBS spokesperson Mao Shengyong.

The mining sector grew by a modest 1.6 percent year on year, lagging behind the 7-percent growth achieved by the manufacturing sector.

Amid the drive to restructure and optimize industry, the country aims to reduce overcapacity in traditional sectors such as coal, iron, and steel while facilitating growth in emerging areas.

China plans to cut ineffective steel capacity of 30 million tonnes and coal capacity of 150 million tonnes in 2018, according to a government work report released earlier this month.

Ownership analysis showed that industrial output of state-holding enterprises was up 9 percent, while industrial output of enterprises funded by overseas investors increased 5.9 percent.

NBS data also showed that China's retail sales of consumer goods grew 9.7 percent year on year in the first two months, slightly slower than the 10.2-percent rise seen in 2017.

Fixed-asset investment grew 7.9 percent year on year during the period, up from 7.2 percent for the full year of 2017.

 

[Anlsvrthng]

The most basic failure that anyone makes is betting against the Chinese economy. It makes you ALWAYS wrong haha. Or maybe the most basic failure is imagining reasons for others to fail because you yourself cannot succeed. I don't know which is more basic; they are both yours.

Looking at a trend to guess the future is what every financial institution does; believe me: they are not more basic than you. Besides, if you think that using the past to judge the future is a "basic failure" then how can you try to use the past of other countries to judge the future of China's economy? It would be magnitudes more of a failure. You cannot even agree with your own logic, further evidencing that you have no idea what you're talking about.

Japan, Spain, Austria can never achieve what China has; their faults have nothing to do with China. USA is also not China.

In any case, what is your point? I need to see numbers. This conversation is stupid because you are picking micro-data and using that to insinuate some impending doom for China's economy that is non-specific in nature nor in time. When asked what you expect for China's economy for 2018, you say on-target growth (because you clearly have no confidence in any negative predictions of China's economy either).So once again, you are wasting everyone's time with garbage that you pull out of your bottom because everyone here, including you, knows that China's economy is still very much climbing. When that is not true, and you are willing to bet that China's GDP will decline the next year, then come back and make that interesting bet. Before then, you're just babbling incoherent hatred stemming from your jealousy.

: D

Just because you never experienced something in you life that doesn't mean it not exist , example based on your past experience you are immortal, because you never died : ) The only reason why you think that you will die on one day is because you observed this on several person around you .So if you close out the observeations based on other people then you can expect that you will live forever : )

Just make something clear: The chinese economy is not diferent from any other around the world. The only ting that made it "miracolouse" is the extreme powerty of the relativly well trained chinese, because it was easy to show improvement from that point.

It is similar like the quickg grow of Japan after the second world war.


And finaly the "doom" will be that from the standpoint of the GDP % warriors, for everyone else the monhly paycheck and the size of shopping trolley is the important....

 

[AssassinsMace]

You mean like how Westerners think other cultures do everything they do either more or less... whichever is worse?

 

[Equation]

: D

Just because you never experienced something in you life that doesn't mean it not exist , example based on your past experience you are immortal, because you never died : ) The only reason why you think that you will die on one day is because you observed this on several person around you .So if you close out the observeations based on other people then you can expect that you will live forever : )

Just make something clear: The chinese economy is not diferent from any other around the world. The only ting that made it "miracolouse" is the extreme powerty of the relativly well trained chinese, because it was easy to show improvement from that point.

It is similar like the quickg grow of Japan after the second world war.


And finaly the "doom" will be that from the standpoint of the GDP % warriors, for everyone else the monhly paycheck and the size of shopping trolley is the important....

You are arguing against yourself, again. When I looked at the trends that show China's economy increasing, you say that you cannot look at trends because everything can happen differently. Then I say by that logic, you cannot compare China's economy to other countries' economies. And now, you say you can judge by trends because other people died and so will you! You are only arguing against your past opinions that I am throwing against you. You cannot even argue with me because you cannot agree with yourself.

This is another perfect example of you not agreeing with yourself. You previously said that China's economy is different and what happens next is unpredictable. Now you want to say that China's economy is no different. You are a schizophrenic patient here; there's no arguing with you because I don't know which one of you I'm talking to LOL. And just for the record, nobody cares what you think you made "clear." It's clear for everyone else that China's economy is very unique in that it has achieved in a certain time span what no other economy has. It doesn't matter how you try to break it down; history shows that China's economy is highly unique and cannot be predicted by Western models (or really it would have collapsed already).

It is not similar to Japan at all. At its peak, modern Japan's economy never grew at 10% and even in its prime years, it often fluctuated below 5%, sometimes down to nearly zero (

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). Japan could never control its economy like China can and Japan was never a country with consistent and powerful growth like China. If you think these economies are similar, it's because you're cherry-picking data like you always do. In 1988, Japan grew at 9%. Never again. If that is similar to China, then I'm similar to Michael Jordan because 30 years ago in one game, I made three 3 point shots in a row; never again though LOL

What are you talking about? What doom? GDP warriors? You were the one that predicts that China's economy will continue to grow at a stable and high level. You change your mind again? Schizophrenia kicking in? Which one of you am I talking to now? LOL

 

[Hendrik_2000]

Amazing the amount of money that they put in the education sector
Nearly 96m students receive educational aid in China BEIJING -- China invested over 188 billion yuan ($29.7 billion) to help 95.9 million students, from kindergarten-aged to university, in 2017, according to the Ministry of Education. Students at higher education institutions received 105 billion yuan in support, up nearly 10 percent from the year before, while more than 9 billion yuan was used to help preschool children, an increase of 36.7 percent, said the report. China spent more than 20 billion yuan to provide free textbooks for 142 million students and 28.5 billion yuan on boarding subsidies for students, according to the Ministry. The government, at both central and local levels, played a leading role in the educational aid program, while enterprises, social groups as well as individuals donated nearly 13 billion yuan, accounting for 6.89 percent, said the report. China's educational aid program covers all levels of study, both public and private schools as well as students with financial difficulties, which guarantees those from ...

 

[Jura The idiot]

Jul 20, 2017

some time ago
Oct 25, 2016
we had this discussion involving:

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is there any news related to

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you might want to tell me about?

I'm asking because now, while waiting in a mall, I had enough time to read this Russian point of view

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which I did, and it sounds ... Orwellian, for example

• quotes what I then located in English:
  "Someone who plays video games for ten hours a day, for example, would be considered an idle person, and someone who frequently buys diapers would be considered as probably a parent, who on balance is more likely to have a sense of responsibility," said Li Yingyun, the technology director of Alibaba's Sesame's credit program in an interview with Caixin, a Chinese magazine.
  
  Read more:
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• and quotes this:
  
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  as saying some rating system for Party members has been already established, which reportedly is named Smart Red Cloud
  智慧红云

please note I have no way to verify, that's why I'm asking

EDIT I hope you know I follow this just to entertain myself, is all; no problem if you ignored

sorta update:
China to bar people with bad 'social credit' from planes, trains

2 days ago

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China said it will begin applying its so-called social credit system to flights and trains and stop people who have committed misdeeds from taking such transport for up to a year.

People who would be put on the restricted lists included those found to have committed acts like spreading false information about terrorism and causing trouble on flights, as well as those who used expired tickets or smoked on trains, according to two statements issued on the National Development and Reform Commission’s website on Friday.

Those found to have committed financial wrongdoings, such as employers who failed to pay social insurance or people who have failed to pay fines, would also face these restrictions, said the statements which were dated March 2.

It added that the rules would come into effect on May 1.

The move is in line with President’s Xi Jinping’s plan to construct a social credit system based on the principle of “once untrustworthy, always restricted”, said one of the notices which was signed by eight ministries, including the country’s aviation regulator and the Supreme People’s Court.

China has flagged plans to roll out a system that will allow government bodies to share information on its citizens’ trustworthiness and issue penalties based on a so-called social credit score.

However, there are signs that the use of social credit scoring on domestic transport could have started years ago. In early 2017, the country’s Supreme People’s Court said during a press conference that 6.15 million Chinese citizens had been banned from taking flights for social misdeeds.

 

[Jura The idiot]

now I read
China improves social credit system
Xinhua| 2018-03-19 22:06:38

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The Supreme People's Court (SPC) has signed a memorandum of cooperation on setting up a mechanism of information sharing with the Ministry of Civil Affairs (MCA) to improve China's social credit system.

Chinese courts nationwide can access to a network for shared information including marriage registration, basic living allowance, social organization registration, individual income and social assistance, and a blacklist of dishonest people or groups, according to the SPC Monday.

The MCA will impose credit constraints and punishment on social organizations on the dishonest list.

The network will help Chinese courts improve efficiency in handling cases, urge dishonest people to implement legal instruments, and promote public credibility of the judiciary, the SPC said.

As of present, more than 2.2 million violators have implemented court judgements or made reconciliation agreements with plaintiffs under the network of shared information, it said.

 

[Jura The idiot]

now I read
Internet Plus a boost to Chinese economy: Premier
Xinhua| 2018-03-20 16:50:21

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The Internet Plus has played an important role in ensuring the steady growth of China's economy, Premier Li Keqiang said on Tuesday.

The Internet Plus model has created new growth drivers, and made the largest platform for the sharing economy, giving opportunities for people to pursue entrepreneurship and innovation, Li said at a press conference after the conclusion of the annual legislative session.

He also mentioned that China should maximize the benefits while addressing the possible defects of the Internet Plus while taking "a prudent yet accommodative approach" toward the supervision of the Internet Plus.

Li added that some new policies will be adopted, such as improving the conditions on the Chinese mainland to let the Chinese Internet companies, which got listed overseas, return to the A-share market.

More preferable conditions, in accordance to the law, will also be created to encourage the mainland innovation-based companies to get listed in the mainland market.

China will further apply smart technologies to education, health care and other service sectors to achieve fast and sound growth of the digital economy, he said.