Chinese Economics Thread

[Rettam Stacf]

two related stories (hard to comment at this point in time I mean an overall influence of the pandemic on the trade deal is yet unknown):

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US-China trade negotiators vow to save phase one deal on first call during pandemic

• China’s Vice-Premier Liu He, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer spoke by phone on Friday to discuss bilateral trade
• China is not close to meeting US purchase demands as part of phase one deal, with the coronavirus disrupting supply chains on both sides

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I went back to look at several January 2020 news reports about the terms of the trade deal, and can find no mention of a purchasing schedule, just $ numbers over the term of the agreement.

If indeed there is no purchasing schedule in the agreement, then this will work to China's advantage. Trump desperately needs to have as many Chinese orders as possible in place before his reelection in November, now that the US economy is going south due to the Covid-19. If Trump tones down his anti-China rhetorics over the next few weeks, you know China is using this leverage.

Still remember how subdue (relatively) Trump was for a few weeks in late March and early April until the 22 air freights of medical supplies from China were completed.

 

[Jura The idiot]

what people talked in the previous page was handled by Marx in something like Theory Of Productive And Nonproductive Labor, well to the extent I recall stuff I'd been taught thirty+ years ago LOL

 

[PiSigma]

I love the spirit of what I'm reading, but let me play devil's advocate for a bit (and contribute nothing of value to the economy). In a society organized around markets and private property, you do need some mechanism to resolve economic disputes (among other societal disputes). Therefore, any dispute resolution mechanism will require a degree of economic support no matter what, even though it doesn't contribute value in the way that, for example, engineering does. Obviously, this has grown rampantly out of control in America and the West in general.

The same holds true of banking. Any society organized around capital accumulation will need some mechanism to lend capitalism to productive enterprises. The problem arises when these loops emerge where capital is just flowing in circles and never touching anything productive.

I don't disagree. It's just a matter of percent in an economy. If these services is only a small percentage of the real economy, then it helps. But if it becomes orders of magnitude higher than the real economy, then it's a house of cards.

 

[PiSigma]

what people talked in the previous page was handled by Marx in something like Theory Of Productive And Nonproductive Labor, well to the extent I recall stuff I'd been taught thirty+ years ago LOL

I'm talking about Adam smith where he specifically talked about manufacturing.

 

[Gatekeeper]

A fine write-up of USA poor strategic choice of Huawei. Basically, it looks as though USA will conceded defeat on this. As no "allies" except Australia had came full on board on the stance of Huawei (which leave their All-weather friend Australia high and dry)!

From CGTN:

Opinion 09:37, 07-May-2020

The United States quietly concedes defeat on Huawei's 5G

Tom Fowdy

Rest of the article.

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[localizer]

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[hullopilllw]

Lol no, US has not given on 5G leadership. While US has basically lost the hardware RAN war, they hold a huge advantage in software parts that comes in latter stage of 5G eco system.

US has planned to use DARPA to take over ORAN alliance, push for OPEN RAN as the main standard onto all telco companies while slowing exclude ALL CHINESE players as the ecosystem mature. While propritary RAM like Huawei, ZTE, Nokia and Ericsson will be allowed to play a role in the initial role out globally, DARPA is utilise US led in software implementation and cloud-RAN to push out Huawei midway, locking out any US deem as a competitor.

I have the chart somewhere let me look it up.

 

[hullopilllw]

Lol no, US has not given on 5G leadership. While US has basically lost the hardware RAN war, they hold a huge advantage in software parts that comes in latter stage of 5G eco system.

US has planned to use DARPA to take over ORAN alliance, push for OPEN RAN as the main standard onto all telco companies while slowing exclude ALL CHINESE players as the ecosystem mature. While propritary RAM like Huawei, ZTE, Nokia and Ericsson will be allowed to play a role in the initial role out globally, DARPA is utilise US led in software implementation and cloud-RAN to push out Huawei midway, locking out any US deem as a competitor.

I have the chart somewhere let me look it up.

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[Skywatcher]

That assumes Chinese hardware and software vendors won't work their way into ORAN build outs and applications, one way or another.

 

[bajingan]

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China is going to impose tariffs on australian barley
This is truly are longtime coming, australia has been constantly biting the hands that feeds them, maybe they can ask their puppet master us to buy their barley instead lol