Chinese Economics Thread

Chish

Junior Member
Registered Member
Lmao I laugh when people talk of Australia lockdown like somekind of brutal torture. Rather than just minor inconvenience that it is. But coming from a suss poster I'm not surprised

To those not from Australia, I will explain to you guys that the lockdowns here were a joke. So dun be misled. People were allowed to go out for essential reasons. And those reasons were stretched every which way. People came up with any silly reason. I went to Kmart several times to buy non essential items and the police didn't stop me. If they did I would just say it's for an emergency and that would be okay. Believe me my friends got away with it.

Moreover people are allowed to go supermarkets for grocery. Allowed to go out for exercise. Heck if police questioned us we just say we going for walk in park to exercise for 20mins stretch our legs, and we would get away with it. Allowed to buy takeaways etc. It's nothing compared to China's situation.

And social isolation? Lmao..We live in an age of social media . Facebook, WhatsApp, normal calls, video calls, FaceTime whatever . Heck even my tech averse grandma joins us in zoom calls.

Sure if you are used to regular sex orgy parties , and you need that physical rubba rubba with multiple individuals then yeah, you probably can't get away with that during the lockdown but for the rest of us , we are still much connected to friends and family.
I think you missed this part: during the strict lockdown periods, going to the bottle shop to buy alcohol is considered an essential activity as long as you are within a certain distance from home. (During lockdowns, more alcohol were sold even when bars were closed and social activities banned. And there was a spike in domestic violence).
You can actually meet anybody in the park or close by if both of you keep your distance and are there exercising. Actually so many people were going to the beach that they later banned this swimming activity at Bondi beach.
 
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Strangelove

Colonel
Registered Member
Nth example of how the world depends on China.... decouple did you say?

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Chinese glassmakers ramp up production to meet rising global demand, as energy crisis in Europe hurts German vaccine vial production.

Energy crisis in Europe hurts German vaccine vial production


By GT staff reporters Published: Aug 17, 2022 10:52 PM


A staff member displays a sample of the COVID-19 inactivated vaccine at a vaccine production plant of China National Pharmaceutical Group Co., Ltd. (Sinopharm) in Beijing, capital of China, April 10, 2020. (Xinhua/Zhang Yuwei)

A staff member displays a sample of the COVID-19 inactivated vaccine at a vaccine production plant of China National Pharmaceutical Group Co., Ltd. (Sinopharm) in Beijing, capital of China. (Xinhua/Zhang Yuwei)

Chinese glass manufacturers are actively preparing the production of glass bottles to meet global demand especially in the field of pharmaceutics, as German glass bottle producers face the risk of production cuts and shutdowns due to Europe's rising energy crisis, again showing China's contribution to stabilizing global industrial chains.

As Europe faces the natural gas supply crunch due to Russia-Ukraine tensions, a number of Western media outlets have warned of the suspension and even shutdowns of Germany's glass producers.

A German local media outlet thelocal.de published an article titled "Gas crunch pushes German glassmaker to the brink," citing a veteran industry participant saying that "if there is a halt in gas supplies… then glass production will very likely disappear from Germany."

Experts noted that, to make glass, sand is heated to 1,500-2000 C, and gas is the energy source of choice.

"Therefore, the shortage of natural gas in Germany may have a large impact on the country's glass industry," an energy analyst surnamed Guan told the Global Times on Wednesday.

However, the hardship faced by Germany's glass industry may spillover to impact the global industrial chain, especially in the pharmaceutical-related sector.

SCHOTT AG, one of the major manufacturers of neutral borosilicate glass, which is used in the pharmaceutical industry in containers for drugs and vaccines, accounts for about 50 percent of the global market share of vaccine vials.

The company's largest global production site is in Mainz, Germany, which means that if the gas supply in Europe doesn't improve, global vaccine vials will become scarcer.

China's glass producers have become a strong back-up for global vaccine vials production in recent years. A number of Chinese companies have made technological breakthroughs in the manufacture of neutral borosilicate glass and have established production capacity.

According to the China Association for Vaccines, the annual output of vaccine vials in China could reach 8 billion.

Facing a potential global vaccine vials shortage, domestic producers have actively prepared production capacity to meet growing market demand.

"At present, we have received orders from European countries, with a rise in the number of orders and inquiries. The company has sufficient production capacity to meet overseas market demand," Shandong Pharmaceutical Glass Co told the Global Times on Wednesday.

Another glass-making enterprise requesting anonymity said that it is aware of a shortage of glass bottles in Germany, and recently received inquiries from Europe. "We are actively making preparations," it told the Global Times on Wednesday.

China's glass industry has seen rapid development. According to the China Daily Glass Association, the output of daily-use glass products and glass packaging containers in the first half of 2021 reached 13.7 million tons, a cumulative increase of 15.70 percent year-on-year.

The export value of the daily-use glass industry totaled $3.49 billion, up 52.06 percent.

"In 2021, in the face of multiple challenges including COVID-19, the industry achieved high year-on-year growth in production and exports. Entering 2022, combined with the effective control of the virus, central and local governments ramped up support for small enterprises, including the glass industry, to address their difficulties," the association said in a report.

Foreign enterprises also hold a bullish view of China's glass manufacturing industry. SCHOTT AG opened a new factory in East China's Zhejiang Province in June 2021, with production capacity of 20,000 tons after the first phase is completed.

"The opening of the factory will alleviate market shortage of vaccine vials, and guarantee a stable supply of neutral borosilicate glass, providing more support for the world's anti-virus action," the company said.

"China's manufacturing industry including the glass sector has made a great contribution to stabilizing global industrial chains since the outbreak of COVID-19, thanks to the country's effective control measures against the virus," Cong Yi, a professor at the Tianjin University of Finance and Economics, told the Global Times on Wednesday.

Despite the pandemic and global energy crisis, the country's overseas manufacturing capability is expected to strengthen, Cong noted.
 

InfamousMeow

Junior Member
Registered Member
I don't mind if people disagree with me. But whenever someone criticises Zero Covid and gets called a "hater" then I think it's legitimate to call people that throw such epiteths as overzealous.

That's what I was and still am pointing out. For some folks here, even minor criticism gets branded as "hate". Any reasonable person should be able to see this as the absurdity it is. And it's correct to call out such behaviour as overzealous because, well, it is.

I agree that it is okay to call people out for saying "haters gonna hate". But you did way more than calling people out.

"There is still a big faction of people who are hardline supporters of the CCP no matter what they do, and that dumbs the conversation down. Like, you don't have to accept all the Western media BS to admit that the CCP isn't flawless and they make mistakes. Like, seriously, it won't hurt you. I promise." This paragraph is way worse than that off-shoot one sentence of "Haters gonna hate" by KYli. You chose to focus on that one sentence of "Haters gonna hate" and go on a tangent about "a significant faction of overzealous/hardline supporter of CCP" on this forum while completely ignoring the actual argument of KYli. You go even further by taunting the so-called "hardline supporters of CCP" as someone who might get "hurt for admitting that CCP isn't flawless and make mistakes". For someone who calls out others for "dumbing the conversation down" because they use ad-hominem, you for sure love to use even worse ad-hominem and over-generalization to call out ad-hominem.

There is no lack of ad-hominem attacks (and other common fallacies) on this forum, they pop up everyday. I don't like them either, but they are, currently, part of the daily dialogue. But if one chooses to call out other people's ad-hominem attacks, one should not commit ad-hominem themselves, at the very very very least, not during the actual process of calling other people out. You doubled down on the ad-hominem with some extra strawmaning+over-generalization added on top.
 

NiuBiDaRen

Brigadier
Registered Member
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A trade war with China? It is the last thing Europe should consider: Global Times editorial

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Is a trade war likely to break out between China and Europe? This is a dangerous topic that the public opinion in Europe, including Germany, has been hyping up. China and Europe in recent years have been the major trading partner of each other, and weathered many storms together. With a highly complementary industrial chain and great economic interdependence, it stands to reason that the trade war should not have become a serious topic in Europe's China policy discussion. However, some media have portrayed an "upside-down world" for Europeans: High economic dependence between China and Europe is not a dividend but "risk" for the continent, while others say Europe must prepare for a conflict with China.

It must be pointed out that for Europe, the damage these public opinion countercurrents would bring cannot be ignored. At present, the European economy is facing multiple challenges including the Russia-Ukraine conflict, energy crisis, high inflation, repeated COVID-19 outbreaks, and lasting periods of high temperatures and droughts. At a time Europe should cherish peace, an external environment favorable to development and mutually beneficial partners, some people in the continent intend to artificially create conflicts with China. Is it just simply because China has become increasingly important for European interests, the continent therefore must decouple from, guard against and repulse China? It's impossible for a normal person not to eat because he is afraid of being chocked. It's even less likely that he will smash the rice bowl.

In sum, the European opinion now mainly focuses on two issues. First is whether to voluntarily reduce economic and trade dependence on the Chinese market, or decouple from China in other words, to avoid being into a passive position in the future. Second, if Europe doesn't accept some of China's policies and decisions, should it resort to trade sanctions? Obviously, many Europeans have been obsessed with these two problems, but it's fair to say there is indeed a problem with raising the two issues.

Regarding the first issue, the close economic and trade relations between China and Europe should not be interpreted as a one-way dependence of one party on the other, but rather as a normal "interdependence." The European economy, especially the German economy, is highly externally oriented, which is determined by the general trend of economic globalization that Europe has grasped and thus fully gained the benefits. According to a report issued by the IFO Institute, a trade war and a decoupling of the EU and Germany from China would cost Germany almost six times as much as Brexit. The former US president Donald Trump wielded the stick of tariffs on many countries during his tenure, which was firmly opposed by Europe, especially France and Germany. As the harm caused by the trade war at that time is still lingering in the European continent today, the word "trade war" should not appear in the European public opinion in particular.

The second issue mirrors the arrogance and prejudice deep in some people's minds in Europe toward China. They are used to judging others, including China with a sense of superiority. In their view, economic and trade sanctions can be used as a political suppression bargaining chip. In fact, Europe is in no position nor has the power to do so. To a large extent, the first issue is measuring others according to Europe's own standard and such mindset. The two issues are two sides of the same coin, reinforcing each other. Those who urge to suppress China are anxious and fearful about China's rising importance. We would also like to remind that some people in Europe should not think about creating conditions for challenging China's core interests by reducing their economic and trade dependence on China, which is putting the cart before the horse.

There are indeed many things that are troubling Europe and have provided a breeding ground for various extremist views. China, which is far away from Europe, has become a target for some people to vent their dissatisfaction. But none of the abovementioned problems are caused by China. And it's the wrong way to ease the anxiety by poisoning China-Europe mutual trust foundation and undermining China-Europe economic cooperation. In recent years, the US has exerted a strong traction on Europe over major geopolitical issues. The result is the US benefited, while Europe fell. Now, Europe needs to sort out domestic affairs and figure out how much of its anxiety around China really comes from China, and how much comes from surrendering strategic autonomy to the US.

Former German chancellor Helmut Schmidt reportedly said Germany should be careful not to be the moral apostle of the world. This sentence also applies to the entire Europe today. A number of European economists recently told media that people need to separate political differences from normal trade and China deserves due respect, warning Europe against short-sighted actions. Their reminder is targeted as public opinion in Europe is showing worrying tendency. Some of the content seem to be copied from the US. But Europe is not a state of the US. This important fact cannot be ignored by the Europeans, otherwise, it's easy to fall into a big hole specifically dug for Europe.
 

tankphobia

Senior Member
Registered Member
Lmao I laugh when people talk of Australia lockdown like somekind of brutal torture. Rather than just minor inconvenience that it is. But coming from a suss poster I'm not surprised

To those not from Australia, I will explain to you guys that the lockdowns here were a joke. So dun be misled. People were allowed to go out for essential reasons. And those reasons were stretched every which way. People came up with any silly reason. I went to Kmart several times to buy non essential items and the police didn't stop me. If they did I would just say it's for an emergency and that would be okay. Believe me my friends got away with it.

Moreover people are allowed to go supermarkets for grocery. Allowed to go out for exercise. Heck if police questioned us we just say we going for walk in park to exercise for 20mins stretch our legs, and we would get away with it. Allowed to buy takeaways etc. It's nothing compared to China's situation.

And social isolation? Lmao..We live in an age of social media . Facebook, WhatsApp, normal calls, video calls, FaceTime whatever . Heck even my tech averse grandma joins us in zoom calls.

Sure if you are used to regular sex orgy parties , and you need that physical rubba rubba with multiple individuals then yeah, you probably can't get away with that during the lockdown but for the rest of us , we are still much connected to friends and family.
So instead of flaunting the lockdowns like you did, I only actually went out for essential reasons, you found it didn't effect you because you didn't follow the government guidelines to begin with
. That's why the policy didn't work and we're still stuck with a recession even with the lockdown. Moreover people were actually quite compliant in Victoria until omicron hit, so you could definitely see it's effect on the city.

So what's so "Sus" about being inconvenienced by not being able to go more than 5km from your home for months on end? You seem to be accusing me of something I'm not.

Oh yeah more then the normal people, international students got absolutely f*cked by the lockdowns, they have to pay 20k+ a year to attend zoom classes while they are stuck in student lodging and unable to work to pay for tuition because many businesses were closed. They also can't leave because borders were closed.
 

Overbom

Brigadier
Registered Member
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China’s GDP growth forecasts slashed as coronavirus, a property sector slump and heatwaves erode economic recovery​

  • Global investment banks Standard Chartered, Goldman Sachs and Nomura have all cut their 2022 economic growth forecasts for China
  • New coronavirus outbreaks and downward pressure on the real estate market are chief reasons China’s economic recovery is losing steam
Gross domestic product (GDP) growth estimates for the world’s second largest economy range between 2.8 and 3.3 per cent, according to updates published in mid-August.
“The second quarter has been extremely low due to Covid restrictions,” said Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis.
“Quarter three has not started very well, with some reduction in domestic mobility from a peak in June, but also [due to] a worsening environment for housing sales, which are growing highly negatively, and so is fixed asset investment in real estate.”
Standard Chartered have forecast China’s GDP growth at 3.3 per cent, while Goldman Sachs estimated 3 per cent and Nomura forecast just 2.8 per cent, all lower than earlier predictions this year. Natixis has also cut its forecast to 3.5 per cent growth.
The Washington-based International Monetary Fund, whose forecasts are widely regarded as benchmarks, said in July it expects China’s economy to grow by 3.3 per cent this year, down from the 4.4 per cent call it made in April.

In March, Premier Li Keqiang set an economic target of “around 5.5 per cent” growth for the US$18 trillion-plus economy, though he has since admitted China is likely fall short.
lol


“China’s post-Omicron rebound has fizzled out and the prospects for near-term growth are poor,” Julian Evans-Pritchard, senior China economist at Capital Economics, said on Thursday. “Virus outbreaks are happening with increasing frequency.”
China’s worst heatwave in six decades, with temperatures of more than 40 degrees Celsius (104 degrees Fahrenheit) in heavily populated parts of the country this month, has put more pressure on industry.
 

sunnymaxi

Captain
Registered Member
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lol


delusional SCMP ..

here is the original report

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With the international situation becoming increasingly complicated and inflation rates soaring in the world's major economies, it is not easy for China to maintain its economic growth momentum, and yet it registered a growth of 2.5 percent year-on-year in the first half of this year.

But the conclusion that China's economy continues to recover, which was heard at a news conference on the economic situation on Monday, is well-founded. Despite the repeated domestic outbreaks of the novel coronavirus, which requires tightened prevention and control measures at various levels, the economy still registered a growth of 0.4 percent in the second quarter of this year.

Such a fact-based judgment should consolidate confidence in the resilience of the Chinese economy.

Indeed, a report released by the China Council for the Promotion of International Trade on the environment for foreign businesses two weeks ago shows that foreign investors are generally optimistic about the country's economic prospects, with 91 percent foreign-funded enterprises in China saying that they will either maintain their business scale or expand their business.

Reports of the American Chamber of Commerce in China and the German Chamber of Commerce in China paint a similar picture, indicating that 60 percent of United States' enterprises and 70 percent of German companies surveyed plan to increase their investment in China.

Such optimism is well-founded as the central government has ensured the stability of the economy with a range of policies.

A total of 32 policies adopted since May, involving financial and fiscal measures as well as approaches to secure investment and consumption, food security, and industry and supply chains have ensured the Chinese economy has not only maintained its recovery momentum despite the flare-ups of the virus, but also pressed ahead with its upgrading and transformation.

The added value of high-tech manufacturing increased 9 percent year-on-year in the first half of the year, and investment in high-tech industries grew by 20.2 percent.

The biggest constraint on the economy is the insufficient market demand, but household consumption is expected to gradually recover with the introduction of pro-consumption policies.

That more than 1,600 companies from 61 countries participated in the China International Consumer Products Expo 2022 held in July in the city of Haikou, Hainan province, indicates the foreign brands believe that demand will pick up.

Given the volatile international situation, China still faces challenges to maintain its economic growth. But with the implementation of targeted policies to overcome the difficulties, China can be confident of sustaining its own economic development and the world of it continuing to be a key driver of the global economy.
 
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