Chinese Economics Thread

[GOODTREE]

China's marine economy hits record 10.5 trillion yuan in 2024​

Source: Xinhua
Editor: huaxia
2025-02-24 20:31:15

An aerial drone photo taken on Jan. 18, 2025 shows a view of Weizhou Island in south China's Guangxi Zhuang Autonomous Region. (Xinhua/Jin Haoyuan)

BEIJING, Feb. 24 (Xinhua) -- China's marine economy achieved a significant milestone in 2024, with its gross ocean product (GOP) exceeding 10 trillion yuan (about 1.4 trillion U.S. dollars) for the first time, according to data released on Monday by the Ministry of Natural Resources.
An annual report by the ministry shows that the GOP had reached 10.54 trillion yuan in 2024, marking an increase of 5.9 percent from the previous year, while demonstrating robust growth across multiple sectors.
Marine manufacturing emerged as a key driver, accounting for over 30 percent of the total GOP. Notably, the service sector was the largest contributor to the marine economy in 2024, contributing 59.6 percent of the total GOP. Tourism showed strong recovery signals, with cruise travel experiencing a significant uptick in popularity.
Offshore wind power entered a new phase of scaled development, as annual power generation grew by nearly 30 percent year on year.
The report also highlighted significant growth in marine development projects last year. In 2024, authorities approved 4,123 new sea and island utilization projects covering 263,000 hectares -- with total investments of 1.07 trillion yuan.
These figures represent year-on-year increases of 70 percent, 6.9 percent and 12.3 percent, respectively, supporting major offshore oil, gas and wind power projects.

 

[lych470]

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If you are in need of a laugh - this piece came out in the latest issue of Foreign Affairs.

Some really silly points that the authors made, and I quote:

"Consider nighttime satellite images of lights in the country—arguably the best approach for approximating Chinese GDP. Studies that look at such imaging reliably find less light concentration than one would expect if China’s official statistics were accurate."

"A huge proportion of China’s infrastructure projects will end up costing more to build than they will ever generate in economic returns. According to the Wall Street Journal reporter Brian Spegele, for example, Beijing’s 30,000-mile high-speed rail network (an amount that could encircle the globe) has generated more than $1 trillion in debt and features many routes that are barely used. Such nonperforming investments, however, continue to buoy China’s GDP. In advanced economies, by contrast, if an investment cannot be paid off, it is frequently written off as a decrease in income, thus reducing GDP."

I simply can't. This is too much drivel.

 

[siegecrossbow]

Please, Log in or Register to view URLs content!

If you are in need of a laugh - this piece came out in the latest issue of Foreign Affairs.

Some really silly points that the authors made, and I quote:

"Consider nighttime satellite images of lights in the country—arguably the best approach for approximating Chinese GDP. Studies that look at such imaging reliably find less light concentration than one would expect if China’s official statistics were accurate."

"A huge proportion of China’s infrastructure projects will end up costing more to build than they will ever generate in economic returns. According to the Wall Street Journal reporter Brian Spegele, for example, Beijing’s 30,000-mile high-speed rail network (an amount that could encircle the globe) has generated more than $1 trillion in debt and features many routes that are barely used. Such nonperforming investments, however, continue to buoy China’s GDP. In advanced economies, by contrast, if an investment cannot be paid off, it is frequently written off as a decrease in income, thus reducing GDP."

I simply can't. This is too much drivel.

Advanced economies where Gen z needs to work multiple jobs on top of selling blood to stay alive? Guess it is a good thing China is so backwards. So backwards in fact that it builds roads to remote villages just so that they can potentially leave for better opportunities elsewhere if they wanted. Have they ever given consideration to shareholder values?

 

[lych470]

More from the article that I posted above:

"Decoupling preemptively could also cause exactly the U.S.-Chinese conflict policymakers want to avoid. If the United States initiates large-scale peacetime cutoffs, and China believes it cannot effectively replicate many of the goods and technologies it stands to lose, it may sense that its window of opportunity to attack Taiwan is closing. That may prompt it to decide to use force quickly—especially since it would have less at risk if its global economic access were already set to be curtailed."

I mean, what goods and technologies from the US are irreplaceable for China? In terms of chips they are already getting 'em from Singapore. The US can have all the Boeing planes for its own citizens. Don't the two idiots know how massive the trade imbalance is between the two countries? Who's going to make all the goods that China produces and the US imports?

 

[siegecrossbow]

More from the article that I posted above:

"Decoupling preemptively could also cause exactly the U.S.-Chinese conflict policymakers want to avoid. If the United States initiates large-scale peacetime cutoffs, and China believes it cannot effectively replicate many of the goods and technologies it stands to lose, it may sense that its window of opportunity to attack Taiwan is closing. That may prompt it to decide to use force quickly—especially since it would have less at risk if its global economic access were already set to be curtailed."

I mean, what goods and technologies from the US are irreplaceable for China? In terms of chips they are already getting 'em from Singapore. The US can have all the Boeing planes for its own citizens. Don't the two idiots know how massive the trade imbalance is between the two countries? Who's going to make all the goods that China produces and the US imports?

The fact that they are relying on think tanks such as these is why these clowns will lose and be cramming for XJP Thought before decade is out.

 

[lych470]

More from the article that I posted above:

"Decoupling preemptively could also cause exactly the U.S.-Chinese conflict policymakers want to avoid. If the United States initiates large-scale peacetime cutoffs, and China believes it cannot effectively replicate many of the goods and technologies it stands to lose, it may sense that its window of opportunity to attack Taiwan is closing. That may prompt it to decide to use force quickly—especially since it would have less at risk if its global economic access were already set to be curtailed."

I mean, what goods and technologies from the US are irreplaceable for China? In terms of chips they are already getting 'em from Singapore. The US can have all the Boeing planes for its own citizens. Don't the two idiots know how massive the trade imbalance is between the two countries? Who's going to make all the goods that China produces and the US imports?

"To determine the long-term consequences of reduced economic interchange, we also modeled how global trade would eventually settle after the initial shock of decoupling, and how this new equilibrium would shape each state’s growth trajectory. In doing so, we found that Washington’s position would become even more comparatively favorable. The United States and almost all of its allies would return to their baseline level of growth. China’s economic trajectory, however, would permanently decline.

The key reason for this enduring imbalance is simple. China’s economy greatly depends on foreign firms producing goods within its borders or subcontracting with Chinese firms that do. The cutoffs would rip that production away. American companies and the companies of U.S. allies, meanwhile, are not so reliant. U.S. and allied trade and production would face short-term logistical troubles after a decoupling, but they can be rerouted away from China as firms find alternative factories to make their wares and locate other sources for basic parts. (Although some of China’s lost production might one day return, much would remain elsewhere once foreign companies went through the trouble of creating new supply lines.)"

I think the author is stuck in the early 2000s. Also very curious that the modelling is not shown in any way, shape or form. In other words they pulled it out of their ass.

 

[siegecrossbow]

"To determine the long-term consequences of reduced economic interchange, we also modeled how global trade would eventually settle after the initial shock of decoupling, and how this new equilibrium would shape each state’s growth trajectory. In doing so, we found that Washington’s position would become even more comparatively favorable. The United States and almost all of its allies would return to their baseline level of growth. China’s economic trajectory, however, would permanently decline.

The key reason for this enduring imbalance is simple. China’s economy greatly depends on foreign firms producing goods within its borders or subcontracting with Chinese firms that do. The cutoffs would rip that production away. American companies and the companies of U.S. allies, meanwhile, are not so reliant. U.S. and allied trade and production would face short-term logistical troubles after a decoupling, but they can be rerouted away from China as firms find alternative factories to make their wares and locate other sources for basic parts. (Although some of China’s lost production might one day return, much would remain elsewhere once foreign companies went through the trouble of creating new supply lines.)"

I think the author is stuck in the early 2000s. Also very curious that the modelling is not shown in any way, shape or form. In other words they pulled it out of their ass.

What allies? Did he write this before 2025?

 

[lych470]

What allies? Did he write this before 2025?

It does seem like this article is a re-hash of something that the authors might have wrote earlier. That's why it used the Forbes 2000 data from 2022, instead of the more recent 2024 data.

Shrug. If this is the level of academia and discussions at Ivy League schools (the lead author is from Dartmouth), then the US deserves whatever that's coming to her.

 

[siegecrossbow]

It does seem like this article is a re-hash of something that the authors might have wrote earlier. That's why it used the Forbes 2000 data from 2022, instead of the more recent 2024 data.

Shrug. If this is the level of academia and discussions at Ivy League schools (the lead author is from Dartmouth), then the US deserves whatever that's coming to her.

Too bad DOGE can’t fire these people.

 

[tygyg1111]

Please, Log in or Register to view URLs content!

If you are in need of a laugh - this piece came out in the latest issue of Foreign Affairs.

Some really silly points that the authors made, and I quote:

"Consider nighttime satellite images of lights in the country—arguably the best approach for approximating Chinese GDP. Studies that look at such imaging reliably find less light concentration than one would expect if China’s official statistics were accurate."

"A huge proportion of China’s infrastructure projects will end up costing more to build than they will ever generate in economic returns. According to the Wall Street Journal reporter Brian Spegele, for example, Beijing’s 30,000-mile high-speed rail network (an amount that could encircle the globe) has generated more than $1 trillion in debt and features many routes that are barely used. Such nonperforming investments, however, continue to buoy China’s GDP. In advanced economies, by contrast, if an investment cannot be paid off, it is frequently written off as a decrease in income, thus reducing GDP."

I simply can't. This is too much drivel.

Foreign Affairs analysts have found that household GDP can vary by a staggering +/- 100% between normal days and public holidays, where lights have been observed to stay on all night on a public holiday such as New Years, while the next night they do not turn on at all