Chinese Economics Thread


escobar

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"Basic capabilities are still weak, core technologies are in the hands of others, and the risk of 'being hit in the throat' and having 'a slipped bike chain' has significantly increased," said Miao Wei, who was Minister of Industry and Information Technology for a decade before stepping down last year.
 

Temstar

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Chinese exports to the US is growing at ridiculous rate:
  • 2019 January-February 59.294 billion USD
  • 2020 January-February 42.984 billion USD
  • 2021 January-February 80.530 billion USD
Chinese export growth Same Period Last Year:
US: increase of 87.3%, becoming the largest export market
EU: increase of 62.6%
ASEAN: increase 53%

To quote a common saying in China these days regarding this matter "the mouth is saying no but the body is screaming yes".
 

Hendrik_2000

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China economic performance in 2020 chalk up record after record as this video enumerated .
China's economy has weathered the storm of the COVID-19 pandemic. It is expecting an even stronger rebound. But digging into the numbers, there are still an array of challenges that the country needs to address to maintain the economic lead.
 

lcompocida

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Chinese exports to the US is growing at ridiculous rate:
  • 2019 January-February 59.294 billion USD
  • 2020 January-February 42.984 billion USD
  • 2021 January-February 80.530 billion USD
Chinese export growth Same Period Last Year:
US: increase of 87.3%, becoming the largest export market
EU: increase of 62.6%
ASEAN: increase 53%

To quote a common saying in China these days regarding this matter "the mouth is saying no but the body is screaming yes".
China Total Exports Data:
  • January-February 2021: $468.7 billion USD
  • January-February 2020: $292.45 billion USD
  • January-February 2019: $352.81 billion USD
  • January-February 2018: $372.14 billion USD
Compared to last year, export growth was 60.3%.
Compared to 2019, export growth was 32.9%
Compared to 2018, export growth was 26.0%
 

sndef888

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I've been thinking, in the past most goods were made for export and hence had to be near the ports, and there's recently been so much talk about manufacturing moving to Africa because the coastal regions are becoming too expensive.

Is it possible to shift manufacturing inland and the new market instead of other countries would be China's coastal regions itself? Would keep the money within China and bring a slew of benefits like better transport between interior and coast, more equal development
 

FriedRiceNSpice

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I've been thinking, in the past most goods were made for export and hence had to be near the ports, and there's recently been so much talk about manufacturing moving to Africa because the coastal regions are becoming too expensive.

Is it possible to shift manufacturing inland and the new market instead of other countries would be China's coastal regions itself? Would keep the money within China and bring a slew of benefits like better transport between interior and coast, more equal development
I think that has already started many years ago and is still currently ongoing:

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However, labor costs are rising steadily in inland regions, and soon these regions will also need to move up the value chain.

So at some point, China will still need to offshore some of the lower value manufacturing. It is far sighted and wise to be investing in Africa now. Building factories in Africa means not only cheaper labor, but also creating markets for Chinese products.
 
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escobar

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Miao said that there is a shortage of talent in emerging industries, and the proportion of innovative and highly skilled talent is low, which has become a major constraint to the development of the manufacturing industry.
China's manufacturing industry has made marked progress lately, but the general view that it is "big, but not strong" and "comprehensive, but not excellent" has not fundamentally changed, Miao Wei, former head of the Ministry of Industry and Information Technology,
"China has entered the prime era of scientific and technological innovation, which is an era of acceleration. Because China has one of the biggest market application scenarios with high-quality consumer demand that no other country can match, the 'threat' to the US, from this perspective, is not illusory but real,"
 

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