Chinese Economics Thread

[MortyandRick]

no, its about to bite them in the ass. Climate promises are the perfect excuse to raise prices for them and export inflation. Inflation is destabilizing to any economy that cannot grow faster than the rate of inflation.

I hope so. I feel china should open the video mines, supply as much energy at they can to these company's to make an much profit as possible before the west tries to tariff and block China exports in the future. Get at much global share as possible especially in the pandemic. Limiting company energy use is counter intuitive. But I hope I'm wrong. I have no experience in these issues

 

[9dashline]

Exactly. Biden is already making calls left and right but Xi is saying Non so far. All these basic products that China is exporting will raise in prices, thus making the common people poorer.

Export tariff on steel is very good

I'm getting emails almost every week from different companies/vendors across all categories from my Freshly food delivery to SecretLabs gaming chair/desk etc etc that basically said they have been forced to raise prices across the board (typically 10 to 15 percent) because of supply chain issues and raise of costs.... my salary raise last year was 1.5%

Food prices at the grocery store is going up every month it seems like, and worse, whether its the local CVS or Kroger or whatever, many of the items on the shelf are empty and not being restocked.... Costco is already doing rationing again.... The White House a while back was telling people to buy xmas gifts earlier this year, just in case by then there won't be enough to go around...

I'm glad China had the foresight for BRI and Dual circulation.... QE infinity was never going to be sustainable and the chickens are coming home to roost for America

 

[9dashline]

These days self sufficiency is the name of the game. The US, China and the EU are all talking about it. For the Europeans to complain about China's effort at self sufficiency is self serving.

There is however one crucial difference between the US and Europe seeking self sufficiency on the one hand and China on the other hand.

When the US and Europe are seeking self sufficiency they are moving down the value chain. When China is seeking self sufficiency they are moving up the value chain. What this means is that the West has to spend hundreds of billions of dollars and countless hours of man power to relocate production to make lower end goods. These resources are not going to be able to be used to maintain the West's technological dominance at the high end. And in the end you also have to question the economic viability of these projects. China on the other hand can spend freely to upgrade its knowledge and industrial base.

That is very good point... I didn't even see it this way.... its going to be a lot easier for China to move up the chain than for America to move down the chain.... this is why all the talk of resorting to hot war etc etc

 

[MortyandRick]

I hope so. I feel china should open the video mines, supply as much energy at they can to these company's to make an much profit as possible before the west tries to tariff and block China exports in the future. Get at much global share as possible especially in the pandemic. Limiting company energy use is counter intuitive. But I hope I'm wrong. I have no experience in these issues

*Coal mines.

Typo

 

[AssassinsMace]

These days self sufficiency is the name of the game. The US, China and the EU are all talking about it. For the Europeans to complain about China's effort at self sufficiency is self serving.

There is however one crucial difference between the US and Europe seeking self sufficiency on the one hand and China on the other hand.

When the US and Europe are seeking self sufficiency they are moving down the value chain. When China is seeking self sufficiency they are moving up the value chain. What this means is that the West has to spend hundreds of billions of dollars and countless hours of man power to relocate production to make lower end goods. These resources are not going to be able to be used to maintain the West's technological dominance at the high end. And in the end you also have to question the economic viability of these projects. China on the other hand can spend freely to upgrade its knowledge and industrial base.

Despite having "modern" economies, Europe is heavily dependent on exports in order to maintain the living standard they're use to. The 2008 Western Financial Crisis exposed they were in deep doo-doo because their exports weren't enough that they had to borrow money also and people protested because they didn't want to sacrifice one bit of their social programs that supplemented their lifestyles. That means Europe has to sell more than ever. So of course the Europeans are scared of Chinese self-sufficiency because that means less money they make from their exports that they're highly dependent on. They already were banning selling technology to China obeying the US that would have the same effect so why didn't they notice that? Because the Europeans like the Americans also believe Chinese couldn't do anything without them aka they believed Chinese were intellectually inferior. They thought China would be in a tailspin and Chinese would be begging to do anything for them where the West could demand and get anything they want from China and now even get more concessions that was going to get them more money than ever from China. They were salivating like after the Opium Wars at carving up China for themselves like a pie. France upset at the US, Great Britain, and Australia is an example of how smaller the Western pie they have now has gotten. More internal bickering to come because the US is closing off the West to other markets because of their demands. And no one should feel sympathy for the Europeans because they chose to go along knowing full well what they were doing.

This is also another example of why China is naïve when it comes to propaganda. Do you see anything from the Europeans admitting how Chinese self-sufficiency hurts Europe when they'll be hit by it the most? While Beijing thinks expressing how US/Western actions against China will hurt everyone involved hoping there's kumbaya moment where they won't do it, the Europeans like Americans only talk about how it hurts China not anyone else. China should be doing the opposite of what they're doing now and taunt and laugh at how the US and the West are shooting themselves in the foot. No one especially the US and their allies are going to see China being reasonable and having common sense and thus get rewarded.

 

[Hendrik_2000]

China is building 3rd East-West Gas trunk line. It be a while until China complete the gas infrastructure for the whole country But China reliance on coal for power plant and heating will be diminish over time. good for the environment as gas is cleaner than coal

The construction of the middle section of the third West-East gas pipeline from Zhongwei to Ji'an started operation on Thursday. The third West-East pipeline, which will span more than 5,000 kilometers starting from northwest China's Xinjiang Uygur Autonomous Region to east China's Fujian Province, will be divided into three sections to construct.

The middle section of the third pipeline started from Zhongwei City of northeast China's Ningxia Hui Autonomous Region to Ji'an City of east China's Jiangxi Province, spanning about 2,090 kilometers. The project of the middle section of the third West-East gas pipeline will increase the annual gas transport capacity of the West-East gas transmission system by about 25 billion cubic meters, and reduce carbon dioxide emissions by 70.89 million tons per year compared with coal use.

 

[MortyandRick]

China is building 3rd East-West Gas trunk line. It be a while until China complete the gas infrastructure for the whole country But China reliance on coal for power plant and heating will be diminish over time. good for the environment as gas is cleaner than coal

The construction of the middle section of the third West-East gas pipeline from Zhongwei to Ji'an started operation on Thursday. The third West-East pipeline, which will span more than 5,000 kilometers starting from northwest China's Xinjiang Uygur Autonomous Region to east China's Fujian Province, will be divided into three sections to construct.

The middle section of the third pipeline started from Zhongwei City of northeast China's Ningxia Hui Autonomous Region to Ji'an City of east China's Jiangxi Province, spanning about 2,090 kilometers. The project of the middle section of the third West-East gas pipeline will increase the annual gas transport capacity of the West-East gas transmission system by about 25 billion cubic meters, and reduce carbon dioxide emissions by 70.89 million tons per year compared with coal use.

That's great news! But until it gets completed, I wonder if china will need to have further shut downs due to energy limit which could limit economic growth. Hopefully not. I think they should try to keep factories open as much as possible. While cleaner energy comes in.

 

[OppositeDay]

What China needs are resources and technology. The West is not selling China technology, and higher production in China drives up prices of commodities, so what exactly is the point of China producing more for exports?

 

[Jiang ZeminFanboy]

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[hashtagpls]

Despite having "modern" economies, Europe is heavily dependent on exports in order to maintain the living standard they're use to. The 2008 Western Financial Crisis exposed they were in deep doo-doo because their exports weren't enough that they had to borrow money also and people protested because they didn't want to sacrifice one bit of their social programs that supplemented their lifestyles. That means Europe has to sell more than ever. So of course the Europeans are scared of Chinese self-sufficiency because that means less money they make from their exports that they're highly dependent on. They already were banning selling technology to China obeying the US that would have the same effect so why didn't they notice that? Because the Europeans like the Americans also believe Chinese couldn't do anything without them aka they believed Chinese were intellectually inferior. They thought China would be in a tailspin and Chinese would be begging to do anything for them where the West could demand and get anything they want from China and now even get more concessions that was going to get them more money than ever from China. They were salivating like after the Opium Wars at carving up China for themselves like a pie. France upset at the US, Great Britain, and Australia is an example of how smaller the Western pie they have now has gotten. More internal bickering to come because the US is closing off the West to other markets because of their demands. And no one should feel sympathy for the Europeans because they chose to go along knowing full well what they were doing.

This is also another example of why China is naïve when it comes to propaganda. Do you see anything from the Europeans admitting how Chinese self-sufficiency hurts Europe when they'll be hit by it the most? While Beijing thinks expressing how US/Western actions against China will hurt everyone involved hoping there's kumbaya moment where they won't do it, the Europeans like Americans only talk about how it hurts China not anyone else. China should be doing the opposite of what they're doing now and taunt and laugh at how the US and the West are shooting themselves in the foot. No one especially the US and their allies are going to see China being reasonable and having common sense and thus get rewarded.

The problem with any western nation and any modern first world asian nation like the Asian Tigers is that up to a certain point, many ppl believe they are too good for 'migrant labour' in much the same way Romans used to eschew certain jobs as 'slave work'.
You see this in HK or singapore where they insist on having maids and yet some HKers refuse to work as maids themselves, or in Australia where no-one here want to pick fruit despite the adequate minimum wage offered being on par with citizen pay.