Chinese Economics Thread

[Gatekeeper]

2.3% YoY growth in 2020.

Well, here we have it. The first time in China's history, it broke the 100 trillion yuan mark!

From Global times

China's GDP tops 100 trillion yuan for the first time, economic strength embarks on a huge new step

By Global Times Published: Jan 18, 2021 10:03 AM Updated: Jan 18, 2021 04:13 PM

China's GDP topped 100 trillion yuan ($15.4 trillion) for the first time in 2020, marking a milestone that demonstrates China's economic, technology strength and the country's comprehensive national power has embarked on a huge new step, Chinese officials said.

China's GDP grew 2.3 percent to 101.6 trillion yuan in 2020, meaning it is expected to be the only major economy in the world to have positive growth, according to data released by the National Bureau of Statistics (NBS) on Monday. It also marked the first time that the country's economic volume stepped into a new era to exceeding 100 trillion yuan.

This economic output has a "very important symbolic meaning" for China as it completes its task of building a moderately prosperous society in all aspects — a goal laid out in its 13th Five-Year Plan (2016-20) — and leads into the new journey in 2021 which involves building a great modern socialist country in an all-round way, Ning Jizhe, head of NBS, said at a press briefing on Monday in Beijing.

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[Hendrik_2000]

I really enjoy reading the sourgrape of Western MSM in regard to China astounding recovery. They do all kind of mental gymnastic to hold on to the believe of western supremacy based on their ideology . It is good for China as long as they lie to themselves and continue the destructive path of no investment no equal distribution of wealth. lopsided tax policy etc

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About China’s Booming* GDP​

​

PHOTO: WU HONG/SHUTTERSTOCK
By
The Editorial Board
Jan. 18, 2021 3:05 pm ET

The economic data Beijing released Monday seems to suggest that China has met expectations that it would be the only major economy to grow in 2020. China being China, there’s much more—and less—to the story.
The top-line data make China a rare good news story in the pandemic year. Inflation-adjusted GDP growth hit 6.5% in the last three months of the year, making it 2.3% for 2020. This contrasts with the rest of the world, where social distancing and lockdowns have triggered some of the worst contractions on record and raise the specter of long and difficult recoveries.

Some of Beijing’s cheerleaders want you to believe this is mainly because the Chinese government acted so aggressively to suppress the pandemic. That story sits uneasily alongside Beijing’s slow-rolling of early information about Covid-19 when more information sharing might have helped other countries.

Beijing adopted particularly aggressive lockdowns once it did act, sealing off entire cities and even now locking down apartment buildings or neighborhoods at a moment’s notice to suppress outbreaks. To the extent anyone can trust Beijing’s data about virus spread, it appears to have Covid mostly under control.

But a closer look at the economy suggests the growth has come from somewhere other than Beijing’s putative suppression of the pandemic. China’s Communist Party reverted to its old economic-crisis playbook to goose debt and exports while tightening political dominance over the economy.

 

[NiuBiDaRen]

Cute panda!

https://twitter.com/i/web/status/1351050917274152960

 

[Janiz]

Cute panda!

Funny picture but unfortunately Chinese netizens are allowed to use VPNs as long as they're using it for 'patriotic' reasons like spreading CCP's point of view. The control from the party is tight so writing anything bad about them can cost you a lot in real life. In this case it's 180 degrees opposite of what really happens and is allowed in PRC. Something like here where 80% of posts in the Member's Club Room are posted by anonymous users who had never posted any interesting info or had any kind of discussion about military matters in the other parts of the forum.

 

[Jiang ZeminFanboy]

I really enjoy reading the sourgrape of Western MSM in regard to China astounding recovery. They do all kind of mental gymnastic to hold on to the believe of western supremacy based on their ideology . It is good for China as long as they lie to themselves and continue the destructive path of no investment no equal distribution of wealth. lopsided tax policy etc
[...]

It's because of Pettis's analysis, they all quote him now. Good butthurt they have.

https://twitter.com/i/web/status/1351058958925111296

 

[Nobonita Barua]

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Never underestimate upcoming shupa pawah

 

[Hendrik_2000]

It's because of Pettis's analysis, they all quote him now. Good butthurt they have.

https://twitter.com/i/web/status/1351058958925111296

I have read Petis article for more than a decade and he never was right even once. And he supposed to teach economy. I don't know why Guanghua school hire him It is sad because it is always a case of "Chinese white worshipping" He is so pessimistic about china at one time gripe about exorbitant debt etc yet he invest his own money in China He own recording studio and bar cum restaurant in Beijing

 

[OppositeDay]

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Never underestimate upcoming shupa pawah

Next time some Indian will chop his hand off in an operation room so India can set the record for the speedest replantation surgery.

 

[Gatekeeper]

It's because of Pettis's analysis, they all quote him now. Good butthurt they have.

https://twitter.com/i/web/status/1351058958925111296

I have read Petis article for more than a decade and he never was right even once. And he supposed to teach economy. I don't know why Guanghua school hire him It is sad because it is always a case of "Chinese white worshipping" He is so pessimistic about china at one time gripe about exorbitant debt etc yet he invest his own money in China He own recording studio and bar cum restaurant in Beijing

Let's enjoy this moment. Shall we. I'm sure harder time will come. But let's not spoil it now!

 

[manqiangrexue]

Funny picture but unfortunately Chinese netizens are allowed to use VPNs as long as they're using it for 'patriotic' reasons like spreading CCP's point of view.

Why unfortunately? Do you have trouble hearing different views?

The control from the party is tight so writing anything bad about them can cost you a lot in real life. In this case it's 180 degrees opposite of what really happens and is allowed in PRC.

The control is so tight in the West and Japan that their citizens make statements with absolutely certainty and conviction about countries they've never visited because their government tells them what to think.

Something like here where 80% of posts in the Member's Club Room are posted by anonymous users who had never posted any interesting info or had any kind of discussion about military matters in the other parts of the forum.

I would need to see data to back this 80% claim as I don't see these users, unless you mean anonymous in the same sense that you don't share your real name. But I do see some pro-Western posters who have made themselves rare, possibly discouraged by their failures this year in comparison with China, who like to come post the occasional empty cheap shot at a China that they cannot hinder in real life and then run away.