Chinese Economics Thread
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Hendrik_2000
Lieutenant General
Beijing policies are accused by western press, analyst, diplomat as full of sloganeering and propaganda or empty word. But Targeted poverty alleviation program is anything but. It make huge impact on 100 million of people. Nota all of the program are successful as depicted on this program But it is a start. And there is always a crack in the system where people still left out.
CGTN has excellent program called "out of the mountain' a compilation of program in CGTN It is a 2 part series and very long But highly recommended program. It is signature policy by Prez Xi he started it when as vice party secretary of Fujian He visited Xihaigou in NIngxia and was shocked at the level of poverty. He then proposed twinning of province where fujian provide help to Ningxia by relocating poor villager to new town closer to water and fertile farmland.
Sometime when I read the news I am angry at the level of hostility and meanness of western world. I wish China just give them hell like in "Korea war" But when you see this video you can see the almost insurmountable mountain China has to climb and task still to do, due to century of neglect, poverty, poor quality of land, and environmental degradation. Large tract of land is uninhabitable. The policy actually started under Hu Jintao, Wen Jiaobao Administration looking back they did good thing to China blunting the sharp edges of China breakneck return to capitalism.
Through a massive effort lasting five years, more than 9.6 million poverty-stricken people were relocated to new settlements with better housing and living conditions. However, this was only a first step. If poverty-alleviation through relocation was to be truly successful, more needed to be done. Only by developing industries and providing education and healthcare could poverty be rooted out, once and for all. The documentary "Out of the Mountains" has two episodes in total, and it has aired on CGTN. Check out the second episode to learn how relocation for people registered as impoverished is not only about better living conditions but also about chances to get rich.
Part I
Part II
Here is the background
BEIJING--()--A total of 832 counties, 128,000 villages and nearly 100 million people were living in poverty. This was the reality that China had to face. The task of providing support to them all wasn't easy, and making sure that everyone receives the exact help they needed was even harder.
In November 2013, during an inspection tour of central China's Hunan, Chinese President Xi Jinping first raised the concept of "targeted poverty alleviation." To crystalize it, he said one should "seek truth from facts, tailor measures to suit local conditions, give targeted guidance, and be meticulous about the work." These points have become the guiding principle in China's fight against poverty.
The first step of the targeted poverty alleviation campaign is to locate poverty through accurate identification, which means specifying survey data by matching it with individuals and households. Are there any better-off families in impoverished counties? Are there any poor households in rich townships? How does one differentiate whether a family really needs help? These were the first challenges that the campaign had to overcome.
"When I was just assigned to the township, I was informed that there were over 2,300 households and about 8,000 people living in poverty. But nobody knew who exactly they were," said Zhu Shengjiang, head of Yeping Town in Jiangxi Province's Ruijin City.
In a township of over 70,000 people, a poor population of over 8,000 was scattered among 399 villager groups. Zhu and his colleagues had to go door-to-door and look meticulously into their respective family conditions. Once poverty is identified, they would set up file for the households and log their information onto system.
The ultimate aim of poverty alleviation is to ensure people don't have to worry about food and clothing and have access to compulsory education, basic medical services and safe housing. Commonly known as the "two assurances and three guarantees," these are the key indicators for poverty relief officials to identify who exactly needs help.
"In each household, we look at things like whether there is sufficient working capacity, whether the child is receiving education and whether all family members are healthy. If the answer is no in all these categories, then we have found a household that really needs help," said Zeng Nenggui, director of poverty relief office in Ruijin City.
The launching of a national digital database has enabled data to cover each and every registered village, household and individual, which not only ensures the accuracy of poverty identification but helps nail down the causes of poverty for those who are in the system.
"These households are like a benchmark. What we do is to analyze their conditions and come up with tailor-made measures to lift them out of poverty," said Lu Chunsheng, director of the Information Center of the National Bureau of Rural Development. "For example, if a family remains poor because they couldn't receive proper education, our relief measures should include granting student loans and subsidies. If poverty is caused by a family member's poor health conditions, we then should provide them with sufficient healthcare."
Prescribing the right remedy is the key. Under President Xi's guidance, the targeted poverty alleviation campaign has five key measures.
Development & Production
All 832 registered counties have formulated industrial plans to fight against poverty, with over 300,000 industrial bases in farming, planting and processing being constructed on site.
Relocation
More than 96 million registered people have moved into over 2.66 million newly constructed houses, all equipped with water, electricity, gas and internet. Transportation is convenient with better roads built.
Ecological compensation
Over 1.1 million registered people have been employed as ecological forest rangers, directly lifting a total of 3 million out of poverty.
Education
About 200,000 students who dropped out of school due to poverty have now returned to school. More than 8 million students from poor families who failed to continue their studies or get employed after finishing high school have received vocational education for free.
Social security
Since 2016, a total of 19.36 million registered people have been included in the subsistence allowance, support and relief system.
To ensure that poverty is truly lifted, the strictest assessment system has been put in place. For each county to declare it has officially left poverty behind, it has to be thoroughly assessed by a third-party inspection team.
"We have never encountered such rigorous measures," said Zhang Shibin, former director of the poverty alleviation office of Yunnan Province's Luquan Yi and Miao Autonomous County. " During the third-party inspection, village officials are not even allowed to follow these teams into the village."
The targeted poverty alleviation campaign has perfectly embodied China's practical and down-to-earth approach in battling poverty, opening up a path that accommodates the country's realities while reflecting unique Chinese characteristics.
CGTN has excellent program called "out of the mountain' a compilation of program in CGTN It is a 2 part series and very long But highly recommended program. It is signature policy by Prez Xi he started it when as vice party secretary of Fujian He visited Xihaigou in NIngxia and was shocked at the level of poverty. He then proposed twinning of province where fujian provide help to Ningxia by relocating poor villager to new town closer to water and fertile farmland.
Sometime when I read the news I am angry at the level of hostility and meanness of western world. I wish China just give them hell like in "Korea war" But when you see this video you can see the almost insurmountable mountain China has to climb and task still to do, due to century of neglect, poverty, poor quality of land, and environmental degradation. Large tract of land is uninhabitable. The policy actually started under Hu Jintao, Wen Jiaobao Administration looking back they did good thing to China blunting the sharp edges of China breakneck return to capitalism.
Through a massive effort lasting five years, more than 9.6 million poverty-stricken people were relocated to new settlements with better housing and living conditions. However, this was only a first step. If poverty-alleviation through relocation was to be truly successful, more needed to be done. Only by developing industries and providing education and healthcare could poverty be rooted out, once and for all. The documentary "Out of the Mountains" has two episodes in total, and it has aired on CGTN. Check out the second episode to learn how relocation for people registered as impoverished is not only about better living conditions but also about chances to get rich.
Part I
Part II
Here is the background
BEIJING--()--A total of 832 counties, 128,000 villages and nearly 100 million people were living in poverty. This was the reality that China had to face. The task of providing support to them all wasn't easy, and making sure that everyone receives the exact help they needed was even harder.
"Who were these people and where were they located? If you are intent on leaving no one behind, then you have to locate each and every one of them and tailor relief measures accordingly," said Lin Wanlong, professor of economics and management at China Agriculture University.
In November 2013, during an inspection tour of central China's Hunan, Chinese President Xi Jinping first raised the concept of "targeted poverty alleviation." To crystalize it, he said one should "seek truth from facts, tailor measures to suit local conditions, give targeted guidance, and be meticulous about the work." These points have become the guiding principle in China's fight against poverty.
The first step of the targeted poverty alleviation campaign is to locate poverty through accurate identification, which means specifying survey data by matching it with individuals and households. Are there any better-off families in impoverished counties? Are there any poor households in rich townships? How does one differentiate whether a family really needs help? These were the first challenges that the campaign had to overcome.
"When I was just assigned to the township, I was informed that there were over 2,300 households and about 8,000 people living in poverty. But nobody knew who exactly they were," said Zhu Shengjiang, head of Yeping Town in Jiangxi Province's Ruijin City.
In a township of over 70,000 people, a poor population of over 8,000 was scattered among 399 villager groups. Zhu and his colleagues had to go door-to-door and look meticulously into their respective family conditions. Once poverty is identified, they would set up file for the households and log their information onto system.
The ultimate aim of poverty alleviation is to ensure people don't have to worry about food and clothing and have access to compulsory education, basic medical services and safe housing. Commonly known as the "two assurances and three guarantees," these are the key indicators for poverty relief officials to identify who exactly needs help.
"In each household, we look at things like whether there is sufficient working capacity, whether the child is receiving education and whether all family members are healthy. If the answer is no in all these categories, then we have found a household that really needs help," said Zeng Nenggui, director of poverty relief office in Ruijin City.
The launching of a national digital database has enabled data to cover each and every registered village, household and individual, which not only ensures the accuracy of poverty identification but helps nail down the causes of poverty for those who are in the system.
"These households are like a benchmark. What we do is to analyze their conditions and come up with tailor-made measures to lift them out of poverty," said Lu Chunsheng, director of the Information Center of the National Bureau of Rural Development. "For example, if a family remains poor because they couldn't receive proper education, our relief measures should include granting student loans and subsidies. If poverty is caused by a family member's poor health conditions, we then should provide them with sufficient healthcare."
Prescribing the right remedy is the key. Under President Xi's guidance, the targeted poverty alleviation campaign has five key measures.
Development & Production
All 832 registered counties have formulated industrial plans to fight against poverty, with over 300,000 industrial bases in farming, planting and processing being constructed on site.
Relocation
More than 96 million registered people have moved into over 2.66 million newly constructed houses, all equipped with water, electricity, gas and internet. Transportation is convenient with better roads built.
Ecological compensation
Over 1.1 million registered people have been employed as ecological forest rangers, directly lifting a total of 3 million out of poverty.
Education
About 200,000 students who dropped out of school due to poverty have now returned to school. More than 8 million students from poor families who failed to continue their studies or get employed after finishing high school have received vocational education for free.
Social security
Since 2016, a total of 19.36 million registered people have been included in the subsistence allowance, support and relief system.
To ensure that poverty is truly lifted, the strictest assessment system has been put in place. For each county to declare it has officially left poverty behind, it has to be thoroughly assessed by a third-party inspection team.
"We have never encountered such rigorous measures," said Zhang Shibin, former director of the poverty alleviation office of Yunnan Province's Luquan Yi and Miao Autonomous County. " During the third-party inspection, village officials are not even allowed to follow these teams into the village."
The targeted poverty alleviation campaign has perfectly embodied China's practical and down-to-earth approach in battling poverty, opening up a path that accommodates the country's realities while reflecting unique Chinese characteristics.
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The author just dances around the question he raised in the article title. He is afraid of giving a definitive answer, like many Americans. Because the answer can be quite uncomfortable. Instead, he lists a range of cliche that the western media and analysts often cited as the challenges that China faces without providing analysis of his own, which include debts and demography. He also pointed out the failed prediction in the '50s and '60s that the former Soviet Union would surpass the US in economy, as a cautionary tale of sort, without saying why it is relevant at all. In the end, the author appears to want his readers to draw their conclusions with him providing some hints and guidance in thinking.
In short, a pretty useless but quite common article on the subject by a run-of-the-mill American analyst.
The question is what's so special about China's economy surpassing the US's in aggregate? After all, China has a 1.4 billion population, over four times of that of the US. Its economy is already over 70% of US's economy and has been growing consistently 2-3 times faster than the US. It's eventually going to slow down considerably and converge to the US growth rate, but why do we have to believe that China's per capita GDP has to stuck at less than one quarter of that of the US's? What's so special about that magic threshold other than it's going to be a psychological blow for the US? It's a pretty low bar for the Chinese economy all things considered.
China Stocks in U.S. Suffer Biggest Two-Day Wipeout Since 2008
Beijing’s sweeping crackdowns of its technology and education sectors has unleashed shockwaves across global markets, erasing $769 billion in value from U.S.-listed Chinese stocks over the course of just five months.The Nasdaq Golden Dragon China Index -- which tracks 98 of China’s biggest firms listed in the U.S. -- plunged 7% Monday after regulators in China unveiled an of its education sector which bans firms that teach school subjects from making profits, raising capital or going public. That adds to Friday’s 8.5% drop, bringing the gauge’s two-day decline to 15%, its biggest since 2008.
Hendrik_2000
Lieutenant General
Stock go up and down all the time nothing surprising. Stock market is not the same as main stream economy so live with it!. The underlying Chinese economy is healthy factory output is rising, export rising, consumer consumption growing, Debt is on way down, infrastructure investment on track. I would say Chinese economy now is entering goldilocks period
China moves to protect food delivery drivers from digital exploitation, knocking stocks such as services giant Meituan
- The policy guidelines come as China ramps up a campaign to rein in Big Tech, forcing the sector to put greater emphasis on consumer and worker rights
- The guidelines are designed to protect basic labour rights for riders, including a base income, work safety, food safety, a decent working environment
Skywatcher
Captain
The fortunes of the Chinese stock market bears less relation to its economy than even its American counterpart (and that's quite saying something).
