Chinese Economics Thread

vincent

Grumpy Old Man
Staff member
Moderator - World Affairs
Well aside from occasional food poisoning due to salmonella break out in salad or other food, I haven't heard much about any major scandal. The last time it was Thalidomide in the 60's
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No China did a lot in streamlining the regulation policy of food and drug administration But this kind of scandal still happened. You wonder why I haven't yet heard any food scandal in Japan or Taiwan for that matter.

As I said legislation alone cannot prevent scandal. The culture of zero failure tolerant must be permeated thru the whole chain of bossiness structure from CEO down to inspector

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Anlsvrthng

Captain
Registered Member
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China Is About To Report Its First Ever H1 Current Account Deficit: Why It Matters

In what may represent a historic change to China's mercantilist economy,
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that in the first quarter of 2018, China had recorded its first current account deficit this century.

Now, in a note from Deutsche Bank that explains the bank's justification to revise its USDCNH forecast higher (now expecting the Yuan to drop to 7.40 against the dollar versus 6.90 previously), the bank picks up on this observation and as chief China economist Zhiwei Zhang writes, China had a current account deficit of US$ 34bn in Q1, the first quarterly current account deficit since 2001 Q2.

He then goes on to preview that the current account balance for Q2 will be released on Aug 6, and while the monthly balance of payments data suggest that China likely has a surplus in Q2, it will be much smaller than the past years.

"Consequently the current account balance in H1 has likely turned into a deficit", Deutsche Bank predicts.
[\QUOTE]
 

Hendrik_2000

Lieutenant General
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I check those website and most of recall are due to food poisoning. The fact that they make the recall show that the system work. Thye voluntary recall the product. There is big difference between malice intent to hide defect in a product. And inadvertent failure due to oversight or poor quality control
The defect vaccine is certainly belong to the first .They know it is ineffective but keep selling it!
 

vincent

Grumpy Old Man
Staff member
Moderator - World Affairs
I check those website and most of recall are due to food poisoning. The fact that they make the recall show that the system work. Thye voluntary recall the product. There is big difference between malice intent to hide defect in a product. And inadvertent failure due to oversight or poor quality control
The defect vaccine is certainly belong to the first .They know it is ineffective but keep selling it!

And the government regulator caught it
 

Icmer

Junior Member
Registered Member
It's really a stretch to compare China's food and drug safety situation to those of developed nations today. Better comparisons can be made to the US, Japan, and Europe in the 1920s-1970s.

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duncanidaho

Junior Member
It's really a stretch to compare China's food and drug safety situation to those of developed nations today. Better comparisons can be made to the US, Japan, and Europe in the 1920s-1970s.

Well aside from occasional food poisoning due to salmonella break out in salad or other food, I haven't heard much about any major scandal. The last time it was Thalidomide in the 60's
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No China did a lot in streamlining the regulation policy of food and drug administration But this kind of scandal still happened. You wonder why I haven't yet heard any food scandal in Japan or Taiwan for that matter.

As I said legislation alone cannot prevent scandal. The culture of zero failure tolerant must be permeated thru the whole chain of bossiness structure from CEO down to inspector

Here is a list of food scandals in Europe i remember

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ad Taiwan
The first time I heard about 地溝油 was 1992 in Taiwan in the TV-News. So the 地溝油 scandal goes for more than 20 years.

ad Japan
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Here is list of drug scandals


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The western MSMs have a short memory, when it comes to their own food and drug scandals but a long when it comes to chinas.
 

sequ

Captain
Registered Member
Yes, Chinese are known for their 'whataboutism' and 'can't help it' mentality. It will take at least a generation before this mentality will change.
 

Anlsvrthng

Captain
Registered Member
Yes, Chinese are known for their 'whataboutism' and 'can't help it' mentality. It will take at least a generation before this mentality will change.

If there is no objective evaluation of actions then all that left is the capture of the subject of discussion.

By this way one country can keep the discussion about someone blowing up a building and few thousand civilian, and rejecting any trial to direct the discussion to his bombing and killing few million civilian.

"whataboutism" is nothing else just a trial by the attacker to keep the initiative in the discussion, and keep away the topic from the non convenient areas.

Say, an average US citizen has three hours of time for international politics.
If you can fill up this time with "russian meddling in elections" , "Chinese aggression over the South Chinese sea ", "Russia invading Ukraine " ,"North Korea prepare to attack the US", "Russia killing innocents in Syria " , "Iran support ISIS " and the line is infinite.

If you can fill up the time of your citizens with this topics, then you don't have to worry about that they can develop informed/objective view about world events.

The above is the reason that developed the need of independent judiciary.

However this doesn't exist in the international politics, on that field all that dominate is the "stronger get it all" .

Means it is always OK to drop nuclear bombs onto cities, fire bomb and kill 100 000 civil , or kill millions of civilians by starvation or terror bombing IF you win the war.

Everything afterwards is only "whataboutism" :D .


It will change, in ten years of time the USA will practice the art of "whataboutism" : )
 

solarz

Brigadier
Yes, Chinese are known for their 'whataboutism' and 'can't help it' mentality. It will take at least a generation before this mentality will change.

This is ridiculous.

The only way to understand how well a nation is doing is to compare it to other nations. That's the basis of every national metric there exists, from economy to military to crime.

I check those website and most of recall are due to food poisoning. The fact that they make the recall show that the system work. Thye voluntary recall the product. There is big difference between malice intent to hide defect in a product. And inadvertent failure due to oversight or poor quality control
The defect vaccine is certainly belong to the first .They know it is ineffective but keep selling it!

There's a reason corporations issue voluntary recalls, and it's not because they're particularly moral. It's because issuing recalls is cheaper than losing a class action lawsuit.

In order for China to reach the same level of consumer confidence, China needs to implement similarly grave consequences for companies that sell unsafe goods.
 
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