Chinese Economics Thread

quantumlight

Junior Member
Registered Member
Just remember, the US and the five eyes want to crush China, which includes undoing all of China's economic prosperity and making us into the next India, whereby we can one day provide IT or tech support and make cheap goods for the west. Remember, the US WANTS chinese slave labour. You can tell because of how disdainful the average american is of a fellow chinese worker even in the US, especially when they are willing to work longer hours. This says nothing of the beta male republicans like that in Atlanta, who would rather fancy himself a submissive concubine using his wealth rather than any other talents. Why else do you think American white males love going to thailand, hint its not for the culture.
Are Chinese prepared to work for 40 cents per hour? No?

Then I think America will solve its own problem

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Kaeshmiri

Junior Member
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In the forty plus years of China's reform and opening era, China has withstood four severe system tests, about once a decade, and come out stronger each time:
  1. 1989 - Tienanmen Incident, political crisis. Deng Xiaoping embarked on the now famous "Southern Tour" in 1992 and reignited the stalled economic engine.
  2. 1998 - Asia Financial Crisis. Chinese premier Zhu Rongji held the rmb exchange rate steady and launched domestic stimulus program to arrest the slide of the economy and countervail the negative external shocks.
  3. 2008 - Global Financial Crisis. China launched an aggressive economic stimulus program and accelerated the large-scale infrastructure build-out. China became the global growth engine to help support world economy.
  4. 2020 - COVID-19, the pandemic. China controlled the COVID-19 domestically with aggressive measures within a few months and emerged to be the only major economy to have positive economic growth in 2020.
Chinese social & political system can manage any major crisis that comes its way primarily because-
1. The leadership is comprised of experts from different fields unlike in the West where its headed by bozos like Boris, Trump.
2. They don't have to worry about elections and will simply do what's best for the country. Unlike in US where politicians are constantly worried about impact on mid-terms, swing states, suburban voters etc
3. No negotiations needed and quick decision making. Meanwhile in the West they have to gather the votes, accept concessions , pass a watered down bill and then play blame game etc.
4. Very importantly- A sense of collective responsibility amongst people. When China announced harsh lockdown measures, Chinese people accepted it without much hue and cry primarily because they understood what the virus is and what it can do to society. Chinese trust their Govt. This trust is absent in Western democracies. Meanwhile American's are like "Muh Freeedom".
 

Aniah

Senior Member
Registered Member
Chinese social & political system can manage any major crisis that comes its way primarily because-
1. The leadership is comprised of experts from different fields unlike in the West where its headed by bozos like Boris, Trump.
2. They don't have to worry about elections and will simply do what's best for the country. Unlike in US where politicians are constantly worried about impact on mid-terms, swing states, suburban voters etc
3. No negotiations needed and quick decision making. Meanwhile in the West they have to gather the votes, accept concessions , pass a watered down bill and then play blame game etc.
4. Very importantly- A sense of collective responsibility amongst people. When China announced harsh lockdown measures, Chinese people accepted it without much hue and cry primarily because they understood what the virus is and what it can do to society. Chinese trust their Govt. This trust is absent in Western democracies. Meanwhile American's are like "Muh Freeedom".
I feel like people sometimes undervalue the 4th point that you've made. The government has time and time again proven itself in front of the masses. Do you guys remember the paper that was posted at the beginning of last year when the Covid first came through? Remembered how low they rated the Chinese in preparedness and how high the Americans rated themselves? Calling themselves the number 1 most prepared nation to tackle this upcoming pandemic and half a million American deaths and a couple million infected later... What a joke. Last I've heard since late last year, the Chinese government has an approval rate of over 90% of the population.
 

antiterror13

Brigadier

IMF predicts 8.4 per cent growth for China and faster global recovery​

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WASHINGTON (China Daily/ANN): The International Monetary Fund on Tuesday (April 6) predicted China's economy to grow at 8.4 per cent this year, which is 0.3 percentage point stronger than in its January forecast, while global growth is expected to reach 6 per cent in 2021, a higher-than-expected recovery that could face "daunting challenges" ahead.

More than a year into the Covid-19 pandemic, high uncertainty is still hovering over the path of the health and economic crisis, with recoveries diverging "dangerously" within and across countries, but a way out is "increasingly visible" thanks to vaccines and policy support, the IMF said in its latest World Economic Outlook (WEO).

"We are now projecting a stronger recovery for the global economy compared with our January forecast, with growth projected to be 6 per cent in 2021 (0.5 percentage point upgrade) and 4.4 per cent in 2022 (0.2 percentage point upgrade), after an estimated historic contraction of -3.3 per cent in 2020," Gita Gopinath, IMF's economic counsellor, wrote in a blog on Tuesday when the WEO was released.

If compared with the October 2020 WEO, the projection for 2021 global growth would be 0.8 percentage point stronger, reflecting additional fiscal support in a few large economies and the anticipated vaccine-powered recovery in the second half of the year, according to the forecast.

For China, the upwardly revised estimate of 8.4 per cent was also 0.2 percentage point higher than in the IMF's forecast half a year ago. It forecast China's growth to moderate to 5.6 per cent in 2022.

The United States is projected to return to end-of-2019 activity levels in the first half of 2021 and expected to register a 6.4 per cent growth rate for the year, according to the IMF forecast.

It pointed out that the Biden administration's US$1.9 trillion rescue package is expected to further boost US GDP over 2021-22, with significant spillovers to main US trading partners.

The US and China are two engines powering a "multi-speed recovery" from the pandemic crisis, well ahead of their pre-crisis GDP levels by the end of 2021, IMF Managing Director Kristalina Georgieva said last week.

However, the IMF said that global prospects remain highly uncertain, with much still depending on the race between the virus and vaccines, as greater progress with vaccinations can lift the forecast, while new virus variants that evade vaccines can lead to a sharp downgrade.

Recoveries would be uneven within and across countries, as economies with slower vaccine rollouts, more limited policy support and that are more reliant on tourism would not do as well, according to IMF's Gopinath.

With losses in per capita GDP over 2020-24 relative to pre-pandemic forecasts projected at 5.7 percent in low-income countries and 4.7 percent in emerging markets, an additional 95 million people were expected to have entered the ranks of the extreme poor in 2020 compared with pre-pandemic projections, she noted.

For emerging market and developing economies, lockdowns and containment measures may be needed more frequently in 2021 and 2022 than in advanced economies, increasing the likelihood of medium-term scarring effects on the potential output of those countries, according to the IMF forecast.

"Considerable differentiation is expected between China — where effective containment measures, a forceful public investment response, and central bank liquidity support have facilitated a strong recovery — and others," the WEO noted.

In her blog "Managing Divergent Recoveries", Gopinath also wrote that while China's economy had already returned to pre-pandemic GDP in 2020, many other countries are not expected to do so until 2023.

As to policy priorities for governments, the global lender said foremost is overcoming the immediate health crisis and returning employment to normal levels and then limiting the long-term impact of the crisis by limiting scarring, including from zombie firms, and reducing inequality — both within and across countries.

Zombie companies are often described as those that earn just enough money to operate but are too weakened to pay their debts.

Further ahead, the threat of climate change is ever more pressing, demanding bold action to limit emissions, particularly for the largest polluters, it said.

The IMF said strong international cooperation is vital for achieving those objectives and ensuring that emerging markets and low-income developing countries continue to narrow the gap between their living standards and those of high-income economies.

On the healthcare front, that means ensuring adequate worldwide vaccine production and universal distribution at affordable prices so that all countries can quickly and decisively beat back the pandemic, it said.

It noted that many pre–Covid-19 risk factors continue to be relevant. Tensions between the US and China remain elevated on numerous fronts, including international trade, intellectual property, and cybersecurity.

"Even while all eyes are on the pandemic, it is essential that progress be made on resolving trade and technology tensions," the IMF said. - China Daily/Asia News Network
 

Hendrik_2000

Lieutenant General

The female expert/researcher along with the Zambian expert (male) did a stupendous job highlighting western hypnosis and hypocricies in Africa and how China and Chinese people are operating in a completely different manner than the colonialists.

In my opinion, regardless of governance system in China, the Chinese people writ large going to be just as competitive, just as efficient free market practioners and will always beat it's competition whenever and wherever in the world. Watching this show/debate made me realize just how ridiculously efficient, adaptive, flexible, resilience, Chinese people in general. And when the competitors lose they whine and cry foul hurling unfounded accusations to reign in their Chinese rivals.
Yup exactly when I work in SEA I often travel to Thailand no I am not looking for girl but more for open space, culture and books. Bangkok have some of the best bookstore in SEA. As I browse a title called "letter from Thailand" the owner said to me You should get this book, highly recommended if it still published. But basically it chronicle the story of poor immigrant from China and how he start from scratch and build business empire. I never forget his quote "When the land is parched farmer become trader. When the political situation, famine or war make it impossible for us to earn living, we immigrate" Such is the flexibility of Chinese people. Another thing is they can live with small profit but they more than make up by volume. It is well known Chinese business strategy. Also they are keen with new technology and introduce in their business.

I mean I can attest from personal experience just as LKY said most Nanyang Chinese are descendant from poor illiterate and landless peasant and come to SEA with only shirt on their back. Yet even they have this socalled "kernel of Chinese culture " which are respect for education, thrifty, hard work, honesty and treat people fairly" Using this simple principle they rose above themselves and become success as they are now.

this book still available from Amazon amazing
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After visiting Thailand a few months ago, I was interested to read this true story about a young man that migrated from China and started a family in Thailand in the 1940's. The reader really gets to know this man as he grows older through the letters that he wrote back home to his mother that were confiscated by the government, so she never received them. His strong opinionated attitudes about the differences between the Chinese and the Thai's work ethics and life choices show that immigrants can live together even though they still are racists. With the help of his children that have grown up there, It is interesting to see that his views are slowly softened as he becomes more open minded and accepting of the natives on Thailand.
 

Nutrient

Junior Member
Registered Member

Good video on the Tianhe district of Guangzhou (Canton). I see now why the city is rated Tier 1.

The video is one hour, 38 minutes long. I thought I would watch the first few minutes and then quit, but I was caught until the end. You have been warned. ;)
 
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