Chinese Economics Thread

SPOOPYSKELETON

Junior Member
Registered Member
I'm going to assume they made it all up. Maybe they spun a tale from something but you can't declare failure after only a few days. That's the giveaway it's fabricated on the media's part.

You're new here so I will tell what I've been saying for a long time in this forum. You have billionaires in China that go unnoticed by the government until they have made too much money to hide and then they get arrested for tax evasion. That's how it goes in China. The West wants to paint China as a giant police state that Beijing controls everything in life of everyone. If they control everything, how do these billionaires get unnoticed? If you go by US figures that supposedly follow Chinese figures, the average Chinese family can't afford to buy a car. Cars in China are slightly more expensive than in the US. Chinese buy more foreign brands than they do domestic. China is the largest car market in the world. How is China the largest car market in the world when the average family can't afford one? Why, because Chinese are making money in ways the government doesn't know about. Chinese have a longer capitalist spirit than ever in the history of the West. The Chinese know how to make money that the government can't track. If you listen to the West, China should be collapsing right now and in turmoil because China's GDP is well below the magic number of the 6.5% growth rate "they" say China has to maintain to prevent domestic instability. Where's the chaos in China they said would happen? It's either because those figures are a lie and/or Chinese are still making money not officially counted in government figures. I have much more faith that China will get out of their problems faster than the West will. The media knows it hence why they're so desperate to make it out China has to depend on street vendors because that's saying everything else is failing.

Can you give a personal story of this unofficial income?
 

j17wang

Senior Member
Registered Member
The recovery continues... China's engine will be leading the world's post-COVID economic renaissance.

China's auto sales surged 14.5% in May, a second straight month of growth as the global industry's biggest market gradually recovers from the coronavirus pandemic.

The China Association of Automobile Manufacturers said Thursday that sales of passenger cars jumped 7% from a year earlier to 1.67 million, an improvement over April's 2.6% contraction.

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AssassinsMace

Lieutenant General
Can you give a personal story of this unofficial income?

What does that prove? I already gave examples in the news and how it contradicts the narrative out there. Usually someone gives a personal anecdote people discount it as not an example of the norm. It's just like when Americans accuse China of being racist, they can't point to any individual incident but a generalization and just assume because of incidents in the US first with Japanese and then South Koreans. But when things like George Floyd happen, these very same people claim it's an outlier and not the norm just like the argument that bad apples in the police are few and far in between.
 
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AndrewS

Brigadier
Registered Member
Setting the market in fully auto mode does not solve any problem. It could also make the jungle of freemarket even more complex. A distant farm in the mountains is harded to deliver it's products fresh and in quality than one that is better positioned in the country, closer to the consumers. That cannot be dissapear because of 5G or any technology gadjet. These people must be subsidised to survive. Maybe the state could provide superfast delivery via special HSR service for free :p

A mountain farm is non-viable even with low transportation costs.

By definition, the farm is SMALL, and doesn't have the scale to produce efficiently at low cost.
 

AndrewS

Brigadier
Registered Member
I'm going to have to call a [citation needed] on that. It makes no sense whatsoever to have a locally assembled product be more expensive than the same product exported, especially when the country it's being exported to has six times the nominal per capita GDP.

China has a legacy of high prices for equivalent products found elsewhere in the world.
But prices in China haven't dropped to match this, because of:

1. a mentality where "more expensive" must mean it is a lot better.
2. an aspiration to always get the best and demonstrate this

But in time, I reckon we'll see sold "middle-class" brands emerge.
 

Hendrik_2000

Lieutenant General
Chinese economy is slowly recovering the head line below is misleading coming out of Bloomberg is not surprising . the chance of second wave is small even if it show up they will deal with it swiftly

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China's economy is slowly crawling back from its coronavirus slump, but the 'very high' risk of a second wave looms large

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Jun. 15, 2020, 01:21 PM

  • Chinese industrial production rose in May alongside a pickup in several economic indicators, according to
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    released by the country's statistics authority on Monday.
  • The data is the latest sign that the world's second-largest economy is on the road to recovery from the impacts of the coronavirus pandemic.
  • A boost in consumer spending sent home and auto sales higher, the National Bureau of Statistics showed, raising optimism that the economy may emerge stronger from its virus hit.
  • China's headline jobless rate fell slightly to 5.9% in May, down from April's 6.0% level, in a sign that the economy may have pulled itself together.

Chinese industrial production rose in May alongside a pickup in several economic indicators, according to
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released by the country's statistics authority on Monday - the latest sign that the world's second-largest economy is on the road to recovery from the impacts of the coronavirus pandemic.

China has been battling the consequences of the coronavirus pandemic, but official data shows its factory activity recovered pace in May as restrictions tied to the COVID-19 outbreak were eased.

However, Beijing reported 57 new coronavirus cases on Sunday - its highest number in two months - and officials have reimposed regional lockdown measures in certain areas.
A line of China's top-tier data fell short of analyst expectations despite month-on-month improvements in fixed asset investment, industrial production, and retail sales, according to Connor Campbell, a financial analyst at SpreadEx, who cited an official spokesman Xu Heijan warning that new risks of a sharper outbreak is "very high."

Chinese consumer spending is a crucial measure for the economy and a boost in purchases in May propelled an increase in home and auto sales.

Retail sales rose by 0.8% in the month compared to April, while falling 2.8% compared to the same time last year. By comparison, in April, retail sales slumped 7.5%.

Big ticket items helped drive retail sales up, with auto sales increasing 3.5% compared to the same period in 2019.

An official gauge of unemployment fell slightly to 5.9% in May from 6.0% in April, improving the economy's headline jobless rate and offering hope that the economy may have passed a critical milestone amid the recent economic downturn.

Total value of industrial production - which measures output in manufacturing, mining, and utilities - expanded 4.4% year-on-year, up from an improved pace of 3.9% in April, the National Bureau of Statistics said.

Fixed asset investment also showed an improvement in May, Chinese authorities said, reporting that it was down 6.3% year-on-year. That was around four percentage points lower than the more than 10% shrinkage witnessed in April.
 

manqiangrexue

Brigadier
This may or may not last long but that it happened at all, especially under such circumstances, is amazing.
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Samsung And Apple Beaten By Huawei In Huge New Smartphone Surprise

In a huge market surprise, Huawei has defied the odds and not only stayed ahead of Apple but also overtaken Samsung to become the world’s largest smartphone marker—for April, at least. The timing of this news, coming just after the U.S.
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on Huawei’s supply chain is ironic. For the Chinese tech giant, this is the first time it has reached the top spot—a welcome respite from recent bad news.

The latest figures come from the research team at Counterpoint, which confirmed to
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that “Huawei was the world’s number one smartphone maker with a 19% market share,” for a month at least. Samsung was just behind on 17%.
 
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