Chinese Economics Thread

[Hendrik_2000]

Taklamakan dessert hold China's largest oil reserve but the location is difficult in the middle of dessert and sofar a way from economic and population center of China In this video you can see how desolate is this place
More than 200 million tonnes of oil and gas have been churned out in China's largest desert in Xinjiang up to now, equalling the total crude oil produced in China last year, according to PetroChina Tarim Oilfield Company.

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[AssassinsMace]

I thought it was laughable that China considers itself a poor and developing country...? Just listen to the little neo-imperialist stooge, Greta Thunberg, repeating anti-China talking points. It is China that wants a more regionalized world to its most literal meaning. Regional to the West still means the West holds all the power. It is the West that wants to prevent true regionalism because that means regions thinking independently like why they hate China. They don't want multiple China's in the world they have to deal with. Then they won't like when other regions talk to one another without their permission just like the US didn't Europe making independent deals with China. They don't actually believe in regionalism when they think they have the final say on what each region gets to do.

 

[Gatekeeper]

Greta Thunberg,

Enough said!

 

[Quickie]

I thought it was laughable that China considers itself a poor and developing country...? Just listen to the little neo-imperialist stooge, Greta Thunberg, repeating anti-China talking points. It is China that wants a more regionalized world to its most literal meaning. Regional to the West still means the West holds all the power. It is the West that wants to prevent true regionalism because that means regions thinking independently like why they hate China. They don't want multiple China's in the world they have to deal with. Then they won't like when other regions talk to one another without their permission just like the US didn't Europe making independent deals with China. They don't actually believe in regionalism when they think they have the final say on what each region gets to do.

But where is Greta Thunberg in the video?

 

[voyager1]

But where is Greta Thunberg in the video?

Also didnt see her anywhere on the video. Probably posted the wrong video.

Anyway, that FT video was garbage

 

[AssassinsMace]

She's not on that video. I was to referring to Greta Thunberg in her criticisms that China should not be considered a developing country when you see other Westerners like in this Financial Times video still labeling China as still being a developing country.

 

[voyager1]

Something is systemically broken in this

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Home transactions in Shenzhen have stirred back to life in the past 12 months

registering a 14.1% year-on-year increase in average prices in 2020 to 88,000 yuan (US$13,600) per square meter.

Yeah..14.1% increase on home prices in just one year. "But why is consumption not picking up"
"Bad Hong Kongers are traitors". The way this is going, in a couple of years dont be surprised if people in Shenzen follow the HK example
"Who could have probably thought that people who cant buy homes are suddenly protesting?"

This is a glaring indicator of how exorbitant home prices are eating into people’s income while Shenzhen’s overall consumption shrank 5.9% to 40,581 yuan per person over the same period.

Yeah. Wonder why. Very strange, right?


And then here is another gem

found that a family in the southern megacity has to save for 48 years to afford a median home, the highest price-to-income ratio in mainland China.

Very sustainable economy. They are truly living the "Chinese Dream" as Xi has said. Whats more amazing than having the entire family saving money for 48 years to afford an appartment in Shenzhen lol.
Mao would be proud


And here is the best gem.

have noted that the inflow of cheap loans earmarked by banks to aid Covid-ailing small and medium-sized enterprises have to a large extent ended up in Shenzhen’s home market since the second half of last year.

many cheap loans meant to sustain SMEs during the pandemic have been diverted into Shenzhen property speculation.

... another idiotic implemented policy blown up in China's face. Who would have thought if you gave ultra cheap loans to SME without strict supervision would result on funneling money on the property speculation.
Really genius people on the Chinese Gov.

The interest difference is giving speculators incentive to take out cheap SME loans to buy homes amid the upbeat outlook of Shenzhen and sustained price increases, with some realty agents talking up a 15-18% surge this year.

Lmao

Shenzhen officials are reportedly increasingly in Beijing’s bad books as efforts to tame the speculation so far have been perceived as lacking

How convenient..
Make up a stupid policy without strict supervision, let this go down to the local gov level where they are not as equipped as the central gov to handle these things, wait for things to blow up and then blame the local gov.

Is this satire?

 

[AssassinsMace]

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This article is originally from FT.

You know what they always leave out when they lay down the events leading to what they complain with China? They're always working to undermine China to achieve regime change. They act like they didn't do anything to provoke these situations. The Hong Kong riots weren't instigated by the US and Great Britain? The South China Sea disputes didn't start with Vietnamese reclamation islands and Exxon trying to develop disputed oil and gas fields with them with Obama's permission...?

 

[hkbc]

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This article is originally from FT.

You know what they always leave out when they lay down the events leading to what they complain with China? They're always working to undermine China to achieve regime change. They act like they didn't do anything to provoke these situations. The Hong Kong riots weren't instigated by the US and Great Britain? The South China Sea disputes didn't start with Vietnamese reclamation islands and Exxon trying to develop disputed oil and gas fields with them with Obama's permission...?

One truism I've found in my old age is the edifice of 'commercial' news is based on advertising which in turn is based on eye balls, so pandering to a particular national demographic becomes a necessity, no one at the FT cares about its Chinese readership and what they think because its pretty much non-existent, multinationals with marketing budgets and a core readership that likes its world view reinforced is where its at! That's the free press, bought and paid for!

Given up with the media, except for its comedic value, end of the day I am never sure if the Daily Show is a parody of MSM or the other way round! Just counting the days when Murdoch is turned away at the Pearly gates by Peter!

 

[gelgoog]

China needs to consider the Singapore housing model for major Chinese cities.