Chinese Economics Thread

[emblem21]

India will likely be the first BRICS nation to get downgraded to junk status soon

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And it happened to the one that is most likely to be a traitor to that group given there blatant shaft sucking they do on a regular basis with the USA among others. Really, the more I hear about India nowadays, the more comical and utterly incompetent they really are. Is this how the worlds largest democracy supposed to act?

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China’s total exports for Jan-Sep: $1.8 trillion
Roughly the same as last time this year, despite trade war, pandemic and decoupling.

I wonder how salty the USA must be right now. The must be screaming in frustration that no matter what they do to China, they still fail in epic fashion. Even in the Korean and Vietnam war, which China being far less well armed they still fail. something is quite wrong here (or maybe right)

 

[LesAdieux]

I wonder how salty the USA must be right now. The must be screaming in frustration that no matter what they do to China, they still fail in epic fashion. Even in the Korean and Vietnam war, which China being far less well armed they still fail. something is quite wrong here (or maybe right)

December 2018, a bunch of China haters in Washington spent a week to work out their China killing scheme, they called it "the Fuck China week". two years later, those mother fuckers only got themselves to fuck.

 

[zgx09t]

India is in a really crappy position right now, both fiscally and monetarily.
Their RBI can't pump more liquidity into the system as the inflation is consistently high, well above their comfort zone of 2-6%, 8 out of last 9 months due supply stoppage in Covid lock downs. They are more concerned about inflation than negative growth of around 10% yoy.
Modi government actual Covid stimulus package was a measly 1% of their GDP, hardly enough for turning the economy around, even though it was announced as over 10 % of their GDP, 9 % of that was RBI liquidity pumping and loan guarantees. Modi can't take on more sovereign debts as the rating pressures were building up since mid year. Their treasury revenue has gone to shits due to Covid, resulting in a ever widening fiscal deficits for the year - so far hitting a projected 7% of GDP. They thought about monetizing the debts, like advanced economies and recently Indonesia did for example, by having RBI buy sovereign bonds directly and paying the dividends back to the government. But that would entail massive inflation and even more negative sovereign ratings. They ended up doing the operation twist, as fed did, selling short term bonds to jack up the yields and buying long terms to keep them flatter, while banks just sit on their excess liquidity and mounting bad debts.
And yet they are baying for an expensive war with China, with a large number their troops wintering in cold desert. Sometimes you just have to shake your head and observe their behaviour quietly.

 

[emblem21]

December 2018, a bunch of China haters in Washington spent a week to work out their China killing scheme, they called it "the Fuck China week". two years later, those mother fuckers only got themselves to fuck.

They would need to be careful, otherwise they may end up getting killed via the virus. Hence they may yet up getting f#%^ed up for good

 

[Nobonita Barua]

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China’s total exports for Jan-Sep: $1.8 trillion
Roughly the same as last time this year, despite trade war, pandemic and decoupling.

Nooo, you are lying. United States of Worlddddd doesn't doesn't trust you.

 

[Temstar]

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Oof, that's gotta sting

Also:

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Lol seek confirmation. Did ScoMo think if he called up Xi he's going to say "oh sorry bro it's just a misunderstanding".

More over, this is isn't just China giving Australia some pain for them acting like a clown on the world stage on US order. This is actually a lot more strategic than that. Xi is going on the offensive here against the Quad and Five Eyes. US is too big of a target to attack frontally so instead he's going after all the little guys. Consider the following:

Japan & South Korea - Suga and Moon are the most China literately of the bunch and can see which way the wind is blowing. They just blew Pompeo off a few days ago at the quad meeting in Japan and both seem keen on sighing RCEP, so these two get a pass for now.

India - stuck in a quagmire of their own making at Ladakh. PLA is sticking to them like glue and slowing bleeding them out

New Zealand - too small and irrelevant of a target, and they've mostly been keeping their head down, they get a pass for now

Canada - No CanSino vaccine for you, you want vaccine talk to your Southern neighbour. On wait, their J&J vaccine just failed today

UK - these guys don't really need help, they are already digging their own grave with COVID-19 and no deal BREXIT

So that leaves Australia. Xi have already laid out the pain earlier with the barley inspection and wine inspection and so on, now he's bringing out the big guns.

You see all the little guys who work for the boss man that is US want some compensation for economic damage they suffer while taking US's side in Cold War 2.0. But of course we all know Trump doesn't even pay his employees properly, he's never going to throw them a bone. In fact after the barley thing with Australia China ended up buying more barley from US instead, since they needed to buy something to fulfil phase 1 obligations and US isn't producing much else with COVID-19 going on. Imagine how you would feel if you're an Australian barley farmer seeing China buying barley from US instead while your prime minister is out there yelling "we should investigate Wuhan!"

So by attacking the little guys in general and Australia in particular Xi is weakening the two alliances with China's powerful economic weapon. It sends a clear message to anyone else who might be thinking of taking US side that such actions is going to hit in where it hurts the most - in their wallet.

 

[Quickie]

Ouch!

This will give second thoughts to companies that wish to give similar excuses - " Oh, we're sorry that things have turned out that way. We really meant to do no harm to you when we did such things behind your back".

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HSBC Is Left Off First China Dollar Bond Deal Since 2017

HSBC left off deal list amid tensions over Huawei, Hong Kong

Bank is targeting an expansion in China to revive fortunes

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was left off the list of banks arranging China’s sovereign dollar debt sale for the first time since the nation returned with big annual deals in 2017.

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for this week, the $6 billion sale will be arranged by 13 banks, including four Chinese lenders and foreign banks such as

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,

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and

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, according to people familiar with the matter who asked not to be named discussing a private information. The Ministry of Finance didn’t immediately respond to a fax seeking comment.

The reason for HSBC’s omission was unclear, but the London-based lender’s relationship with China has become increasingly fraught. The bank has been blasted by Chinese media for its role in the U.S. investigation of

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and criticized for not coming out fast enough in support of Hong Kong’s new security law.

Last month, the ruling Communist Party’s Global Times newspaper reported that the bank, which counts Hong Kong as its biggest market, could be put on an “unreliable entity” list that aims to punish firms that damage China’s national security.

A Hong Kong-based spokesman for HSBC said the bank won’t comment on any specific deals. “As the leading foreign bank for G3 debt issuance in mainland China, HSBC is committed to supporting our clients and the opening up of China’s capital markets,” he said, adding “we have a good ongoing working relationship with” the Ministry of Finance.

China is key to HSBC Chief Executive Officer Noel Quinn plans to revive the lender’s fortunes. Quinn is this year hastening a shakeup of its global operations, pivoting further into Asia as its European operations lose money and it struggles with ballooning bad debt and low interest rates. The bank’s shares hit a 25-year low last month in Hong Kong in part on concerns its plans to expand in China could be endangered.

HSBC has acted as one of the arrangers for China’s dollar bond deals each year since China came back to that market in 2017, according to data compiled by Bloomberg. Last year, it also helped arranged a sale of China’s

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, the first such sale in 15 years. HSBC ranks second in the league table for offshore Chinese debt deals so far this year, according to Bloomberg-compiled data.

The lender has had other setbacks, losing out last year on coveted spot in pricing a new Chinese benchmark rate and failing in a bid to get a license to underwrite all types of company notes in the Chinese interbank bond market.

 

[Hendrik_2000]

Smart money bet on China

Dalio Says ‘Time Is on China’s Side’ in Power Struggle With U.S.

Hema Parmar
Mon, October 12, 2020, 4:40 PM CDT

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(Bloomberg) -- Bridgewater Associates founder Ray Dalio said China has an advantage over the U.S. on a range of issues.
“Time is on China’s side and it’s not on the United States’ side, for various developments,” Dalio said Monday in a conversation with New York Times columnist Thomas Friedman at the Milken Institute Global Conference. “What’s going to be a difficult situation in the new administration is destiny is on the side of China growing, and doing better probably.”

He noted how China’s economy has rebounded faster during the pandemic than that of the U.S. and that the listing of “hot” companies on Chinese stock markets is attracting capital. He also said China’s higher interest rates mean the nation is in a better position of “not having to print money.”
In July, Dalio warned in a LinkedIn post that tensions between the U.S. and China could spiral into an armed conflict, saying there’s “usually an economic war” before “a shooting war.” Later that month, he said the two nations may find themselves ensnared in a “capital war” that could hurt the dollar.

He reiterated those views on Monday.
“You’re going to see the internationalization of the renminbi, which was intentionally not developed before, because it is a threat to the American world order,” said Dalio, 71.
Read more: Dalio Evokes WW2 Parallels Looking to U.S.-China Clash

 

[ansy1968]

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Oof, that's gotta sting

Also:

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Lol seek confirmation. Did ScoMo think if he called up Xi he's going to say "oh sorry bro it's just a misunderstanding".

More over, this is isn't just China giving Australia some pain for them acting like a clown on the world stage on US order. This is actually a lot more strategic than that. Xi is going on the offensive here against the Quad and Five Eyes. US is too big of a target to attack frontally so instead he's going after all the little guys. Consider the following:

Japan & South Korea - Suga and Moon are the most China literately of the bunch and can see which way the wind is blowing. They just blew Pompeo off a few days ago at the quad meeting in Japan and both seem keen on sighing RCEP, so these two get a pass for now.

India - stuck in a quagmire of their own making at Ladakh. PLA is sticking to them like glue and slowing bleeding them out

New Zealand - too small and irrelevant of a target, and they've mostly been keeping their head down, they get a pass for now

Canada - No CanSino vaccine for you, you want vaccine talk to your Southern neighbour. On wait, their J&J vaccine just failed today

UK - these guys don't really need help, they are already digging their own grave with COVID-19 and no deal BREXIT

So that leaves Australia. Xi have already laid out the pain earlier with the barley inspection and wine inspection and so on, now he's bringing out the big guns.

You see all the little guys who work for the boss man that is US want some compensation for economic damage they suffer while taking US's side in Cold War 2.0. But of course we all know Trump doesn't even pay his employees properly, he's never going to throw them a bone. In fact after the barley thing with Australia China ended up buying more barley from US instead, since they needed to buy something to fulfil phase 1 obligations and US isn't producing much else with COVID-19 going on. Imagine how you would feel if you're an Australian barley farmer seeing China buying barley from US instead while your prime minister is out there yelling "we should investigate Wuhan!"

So by attacking the little guys in general and Australia in particular Xi is weakening the two alliances with China's powerful economic weapon. It sends a clear message to anyone else who might be thinking of taking US side that such actions is going to hit in where it hurts the most - in their wallet.

HI Temstar,

A strategy that will make Sun Tzu proud and what perfect timing, China strike when you least expected

 

[SimaQian]

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Oof, that's gotta sting

Also:

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Lol seek confirmation. Did ScoMo think if he called up Xi he's going to say "oh sorry bro it's just a misunderstanding".

More over, this is isn't just China giving Australia some pain for them acting like a clown on the world stage on US order. This is actually a lot more strategic than that. Xi is going on the offensive here against the Quad and Five Eyes. US is too big of a target to attack frontally so instead he's going after all the little guys. Consider the following:

Japan & South Korea - Suga and Moon are the most China literately of the bunch and can see which way the wind is blowing. They just blew Pompeo off a few days ago at the quad meeting in Japan and both seem keen on sighing RCEP, so these two get a pass for now.

India - stuck in a quagmire of their own making at Ladakh. PLA is sticking to them like glue and slowing bleeding them out

New Zealand - too small and irrelevant of a target, and they've mostly been keeping their head down, they get a pass for now

Canada - No CanSino vaccine for you, you want vaccine talk to your Southern neighbour. On wait, their J&J vaccine just failed today

UK - these guys don't really need help, they are already digging their own grave with COVID-19 and no deal BREXIT

So that leaves Australia. Xi have already laid out the pain earlier with the barley inspection and wine inspection and so on, now he's bringing out the big guns.

You see all the little guys who work for the boss man that is US want some compensation for economic damage they suffer while taking US's side in Cold War 2.0. But of course we all know Trump doesn't even pay his employees properly, he's never going to throw them a bone. In fact after the barley thing with Australia China ended up buying more barley from US instead, since they needed to buy something to fulfil phase 1 obligations and US isn't producing much else with COVID-19 going on. Imagine how you would feel if you're an Australian barley farmer seeing China buying barley from US instead while your prime minister is out there yelling "we should investigate Wuhan!"

So by attacking the little guys in general and Australia in particular Xi is weakening the two alliances with China's powerful economic weapon. It sends a clear message to anyone else who might be thinking of taking US side that such actions is going to hit in where it hurts the most - in their wallet.

Australian politicians said, nothing to worry. China is not the biggest market for Australian coal.

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Maybe China should expidite developing this African mine to diversify iron ore sources. If China can stop importing iron ore from Austrialia, that would really be a blow to Australian economy.

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