Chinese Economics Thread


Jura

General
the article kind of protests the US sanctioning of COSCO shipping company (this happened earlier, now googled
COSCO Tankers Go Dark
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dated 2019-10-09):
US sanctions Chinese vessels: A different method of blockade and power play
follow the link
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if interested
 

Equation

Banned Idiot
Oh boy this upset many China haters, doubters, and naysayers out there.:p:D

Rich Chinese outnumber wealthy Americans for first time - Credit Suisse

FILE PHOTO: People ride an escalator near skyscrapers at Lujiazui financial district in Shanghai
ZURICH, Oct 21 (Reuters) - The number of rich Chinese has surpassed the count of wealthy Americans for the first time as both countries keep churning out millionaires, a study by Credit Suisse showed.

The Swiss bank's annual wealth survey released on Monday found 100 million Chinese ranked in the global top 10% as of the middle of this year versus 99 million in the United States.

"Despite the trade tension between the United States and China over the past 12 months, both countries have fared strongly in wealth creation, contributing $3.8 trillion and $1.9 trillion respectively," said Nannette Hechler-Fayd'herbe, global head of economics and research at Credit Suisse.

The ranks of the world's millionaires have risen by 1.1 million to an estimated 46.8 million, collectively owning $158.3 trillion in net assets, 44% of the global total, the study found.

The United States added more than half of this number –675,000 new millionaires – to its sizeable stock.

A decline in average wealth in Australia -- largely due to exchange rates -- resulted in 124,000 fewer millionaires there, while Britain lost 27,000 and Turkey 24,000.

The report estimates that 55,920 adults are worth at least $100 million and 4,830 have net assets above $500 million.

It forecast global wealth -- which increased 2.6% over the past year -- would rise by 27% over the next five years to $459 trillion by 2024. The number of millionaires would also grow over this period to almost 63 million.

The share of the world's bottom 90% accounts for 18% of global wealth, compared to 11% in the 2000.

"While it is too early to say wealth inequality is now in a downward phase, the prevailing evidence suggests that 2016 may have been the peak for the near future," it said.
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styx

Junior Member
Registered Member
Some american politicians and think tankers believe that communist china will follow the ussr in the trashbin of history, but how many rich people where in the soviet union in 1989?
 

localizer

Senior Member
Registered Member

Meng's extradition trial will be like Assange's, completely unfounded.

Neither are US citizens, neither were in the US at time of arrest.

When China wants to move a Chinese citizen from one Chinese territory to face trial in China, the whole world goes nuts.
 

solarz

Brigadier
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Yes just being popular and not Western can be in itself a national security risk. And they're banning pro-China Hong Kong videos...
I was just about to post something like that. Let them start a witch hunt on TikTok or whatever popular new Chinese app that comes around. It will just make Facebook and Twitter complacent, and by the time they realize they're obsolete, the rest of the world will have already moved on.

The US is not the world, and its global market share is ever decreasing.
 

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