China Economy: News & Discussion

johnq

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Chinese Communist Party propaganda always cherrypicks data. It will show the number of goods consumed, or money spent, per thousand people, but it will not show the distribution of that spending. Meaning, the bulk of the spending is being done by the Chinese Communist Party thugs and their friends while the rest of the country remains relatively poor. If the wealthiest 10 percent of the population in China buys the great majority of the consumer goods, how does it help the rest of the population which is still barely living day to day on wages earned?

China’s Wide Income Gap Undercut Spending as Growth Recovers
  • Richest households earn more than 10 times income of poor
  • Consumer spending has returned to growth, but remains subdued
Income Gap
Official figures released on Monday which showed that the economy’s growth rate surpassed pre-pandemic levels in the last quarter also revealed that the richest 20% of Chinese had an average disposable income of more than 80,000 yuan ($12,000) last year, 10.2 times what the poorest 20% earn.
By this measure, China’s inequality levels are comparable with Mexico, where the top 20% earn 10.4 times the bottom 20%.
Millions of migrant workers lost their jobs early in 2020 as factories, shops and restaurants were shuttered to contain the virus. When lockdowns were lifted later in the spring, some chose to remain in their rural hometowns, with official data showing the number of migrant workers declining by 5.2 million in 2020 from 2019.

China offered relatively little direct support to households hit by job-losses in the first quarter, meaning many had to rely on savings that they are now trying to replenish.
The great majority of the Chinese population cannot afford the cars and the expensive handbags. It's just that the Chinese Communist Party thugs in the big cities are spending like crazy from the profits they have harvested from overworked and underpaid Chinese factory laborers, Uighur, Tibetan and other minorities and political prisoners being used as slaves in concentration camps.
 

SexyChineseLady

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"
BEIJING — Some are trying to create characters as memorable as Mickey Mouse. Others are launching lessons on how to cook steak. Still others know Chinese parents will pull out all stops for their kids.

It’s all a bet on the Chinese middle class, a consumer force McKinsey analysis predicts could reach 550 million in three years — that’s more than one-and-a-half times the entire U.S. population today.
"
 

johnq

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Been looking at Chinese Communist Party (CCP) funded optimistic analysis for the last 2 decades. In the meantime, the Chinese Communist Party has moved millions of Uighurs, other minorities and political prisoners into slave labor camps. Sure the overall GDP increases from forced slave labor, but the people in those camps are barely kept alive on sustenance wages, while the Chinese Communist Party fatcats in the cities enjoy life from the profits harvested through the slave labor. The Chinese Communist Party officials buy 10 cars each, while the enslaved minorities and political prisoners make sustenance wages, and often lose their organs whenever CCP officials need them.
 

SexyChineseLady

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China is still a poor country but no other poor country has a car market bigger than the US!

For example, car sales last year:

China19,290,137
United States14,599,190
India2,472,820

This is what makes China special. Most poor nations like India -- who has the same population as China -- buys at a far lower lever. And certainly not more than the US like the Chinese population.

And because China is developing nation with a high growth rate, it will add more to its middle class every year than the US who has already has a mature economy.

So when the rest of the Chinese population reaches middle class, car sales will be three to four times that of the US!
 
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China is still a poor country but no other poor country has a car market bigger than the US!
This is what makes China special. Most poor nations like India -- who has the same population as China -- buys at a far lower lever. And certainly not more than the US like the Chinese population.
US is a developed country with per capita income 6-7 time of China.
China is an upper middle income country with per capita income at 4-5 times of India which in turn is a lower middle income country.

And now US population is 1/4th of China or India. So this is the product of per capita income/consumption/expenditure multiplied by population.

Population x wealth makes a nation strong and that's why US, China and India (Soviet Union in past) are so special. Otherwise there are a lot of developed and developing countries with income levels far ahead, equal and below US/China/India.
 

johnq

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The bulk of the wealth always remains with the Chinese Communist Party (CCP) and their friends and partners. The top 10 percent of the population (CCP, their friends and families in big cities) has plenty of wealth now due to profits harvested from the hard work of slave labor camps where minorities and political prisoners are made to work for sustenance wages (essentially free), while the rest of the population also cannot afford cars due to the imbalance of the system. Which means that the top 10 percent in the cities have gotten richer, while simultaneously dragging down millions of minority workers (such as Muslims and Tibetans) and political prisoners (people who protest against the CCP) into slavery. Sure slave labor results in higher overall GDP, but the quality of life of the enslaved population is horrible. Not to mention the cultural genocide that is ocurring in the minority areas like Tibet, Xinjiang, Mongolia, etc.
 
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SexyChineseLady

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Communist countries like North Korea and the old USSR/East European bloc are desperately poor and prone to economic collapse. States that depend on slave labor like the Southern Confederacy during the American Civil War are mainly agricultural because industrialization makes slavery inefficient and slave labor can never create a huge consumer class.

China is both heavily industrialized and a consumer class that buys more stuff than the US. Hardly, doable as a commie nation or a slave state.

Also what commie slave state allows the world largest torrent of tourists to flood places from South Korea to France and spend like crazy? lol


What makes China so formidable is not because it is a commie or slave state (those kinds of powers collapse on their own) but it is actually mostly a free market, strong central government system that builds and buys stuff like the rest of East Asia (Japan, Korea, Hong Kong, Singapore) but on a much larger scale.

China is consuming more and more stuff from food to gadgets to cars to entertainment more than anyone else in the world. You can check this out simply by looking at the sales figures -- all of the global companies from Tesla to KFC and Starbucks to Disney are in China is a big way :)
 

Lonewolf

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Communist countries like North Korea and the old USSR/East European bloc are desperately poor and prone to economic collapse. States that depend on slave labor like the Southern Confederacy during the American Civil War are mainly agricultural because industrialization makes slavery inefficient and slave labor can never create a huge consumer class.

China is both heavily industrialized and a consumer class that buys more stuff than the US. Hardly, doable as a commie nation or a slave state.

Also what commie slave state allows the world largest torrent of tourists to flood places from South Korea to France and spend like crazy? lol


What makes China so formidable is not because it is a commie or slave state (those kinds of powers collapse on their own) but it is actually mostly a free market, strong central government system that builds and buys stuff like the rest of East Asia (Japan, Korea, Hong Kong, Singapore) but on a much larger scale.

China is consuming more and more stuff from food to gadgets to cars to entertainment more than anyone else in the world. You can check this out simply by looking at the sales figures -- all of the global companies from Tesla to KFC and Starbucks to Disney are in China is a big way :)
GOOD MORNING


MYSELF WINNIE THE POOH 'S DOG AND THIS IS CAMERAMAN KIM JONG .

ABOVE NEWS YOU READ US DIRECTLY FROM CCP TABLE , YOU CAN SEE HOW GOOD WE ARE , IN SUCH A BIG NATION WE ALLOW TOURIST ,

AUDIENCE 1 : BUT BUT TOURIST DON'T VISIT CONCENTRATION CAMP AND UYGHUR SETTLEMENT .

NEWS REPORTER : STFU BITCH , LET'S CONTINUE THESE INCOME DISPARITY AND ALL ARE FAKE , COMMUNIST ARE GOODEST OF GOOD , THEY SOMETIMES BUILD STATUE OF THEIR LEADER WHILE CRITICIZING OTHERS FOR IT .


YOU HAVE BIGGEST FIREWALL IN WORLD , YOU USE PREDATORY TRADING POLICY , PROVIDE INCENTIVES AND ELIMINATE OTHER PLAYER IN OVER SEA MARKET , IF YOU ARE DEVIL DON'T PREACH BIBLE
 

johnq

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There’s a good chance your cotton T-shirt was made with Uyghur slave labor
Much of the world’s cotton comes from the Uyghur region, where the Chinese government is ethnically cleansing its Muslim minority. Fashion conglomerates know this

In the era of conscious consumerism, it’s often the case that companies are quick to say the right thing, but slower to actually do the right thing. Yet for companies being asked to remove Uyghur forced labor from their supply chains, the opposite is true. Many of the world’s largest brands are willing to rearrange their operations in order to source products from areas that are not known – as the Uyghur region in western China is – for atrocious human rights violations, but far fewer are willing to do so publicly. As it turns out, “easier said than done” does not apply when facing the rebuke of the Chinese government.
https://www.theguardian.com/sport/2021/apr/07/us-in-close-consultations-with-allies-on-possible-action-over-beijing-olympics
One in five cotton garments on the global marketplace is tainted by forced labor, and more than 20% of the world’s cotton comes from the Uyghur region, which the Chinese government calls Xinjiang. Forced labor is an integral part of the ethnic cleansing program being carried out by the Chinese government, which is targeting the Uyghur population and other Turkic and Muslim-majority peoples and subjecting them to involuntary labor and “re-education”. Several countries including the US have officially declared this campaign a genocide. Last week, the US and its allies sanctioned Wang Junzheng, the head of the Xinjiang Production and Construction Corps. Yet it is still a challenge to convince some corporations to prioritize workers’ lives over profits.

That’s because companies that have dared to voice their concerns over what is happening in the Uyghur region are now facing threats of a boycott in China – a perfect example of the rebuke these brands have been trying to avoid.

China is by many measures now the world’s largest economy, and in the wake of this boycott, major global apparel companies including Inditex and PVH have removed policies against forced labor from their websites. So far these companies are in the minority, but they own global brands such as Zara, Tommy Hilfiger and Calvin Klein. As long as there is a market for goods sourced from the Uyghur region, the Chinese government will be emboldened to keep operating the mass detention camps where Uyghur people are being held in indentured servitude.

While the shameful cowardice shown by the group of companies choosing to quietly erase their statements against human rights abuses is reprehensible, even more stunning is the choice some brands have made to defend and proudly publicize their use of Xinjiang cotton. In an effort to placate China and preserve market share, Muji, Fila and Asics have all publicly announced their support for goods from the Uyghur region. (Muji said it has conducted “due diligence” on its supply chain and is taking steps to “improve working conditions”.)

Hugo Boss is another illustrative example. After previously denouncing the use of forced labor, Hugo Boss took to social media last week to enthusiastically announce its plans to continue using Xinjiang cotton. A few days later, their corporate headquarters deleted the post, calling it “unauthorized”, then issued a statement acknowledging concerns about allegations of forced labor in the Uyghur region. From a brand known for supplying uniforms to the Nazis during the second world war – also made with forced labor as part of a larger genocide – that seems like the absolute least Hugo Boss could do. But the brand’s oscillation reflects the complexity of the challenge facing companies trying to balance market access in China with basic respect for human rights. Ultimately, their wishy-washy stance – along with others’ complicit silence or outright support – serves to embolden the Chinese government in its abuse of the Uyghur people.

How will they explain their choices to consumers outside China – ones with almost unlimited choice in what they buy, and who overwhelmingly do not want to wear clothes made with forced labor?

There is no denying that China’s 1.4 billion people hold a lot of purchasing power, and that it is a potential financial risk for brands to speak out against the Chinese government’s repression of Uyghur people. But as consumers around the world enjoy more and more access to information, and increasingly demand that the companies they buy from reflect their values, these brands are just one Google search away from being revealed as purveyors of slave labor. For most consumers around the world, that kind of revelation would probably lead them to seek out a T-shirt that hasn’t been stitched by victims of crimes against humanity. And on the other side of the coin, brands that have signed the call to action from the Coalition To End Uyghur Forced Labour, like Marks & Spencer, Asos, and Eileen Fisher, are being rewarded by consumers.

Companies turning a blind eye to protect profits is nothing new. But once you have acknowledged that human rights violations are taking place, it’s difficult to justify continuing your patronage of goods that rely on those violations. For the brands that have done this in response to China’s scare tactic: the world is watching. You may still have a chance to land on the right side of history, but it depends on what you do next. Your decisions could mean the difference for millions of Uyghur people.
 

SexyChineseLady

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Did the USSR have did kind of effect on the global box office? Does North Korea? Nope, communist nation cannot generate this kind of discretionary income.

Neither could most emerging nations like India, Nigeria or Mexico.
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But Chinese could spend more than Americans on completely frivolous things like movies even now. Americans are already rich. But Chinese are only starting to get rich.

See what happens in the coming years as the Chinese economy grows bigger :)
 

SexyChineseLady

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Why would a pandemic make any difference or population make any difference in the argument?

1. India has 1.4B people like China but it has only only 2% of the gross. China has nearly 50%.

2. If a pandemic hits in the 1970s, the USSR would never earn 50% of any global movie like "Star Wars" because it was too poor.

Communist nations like N. Korea and the USSR have very small consumer classes. Slave societies like American South were unindustrialized. China is completely different, it has a very large and rapidly growing consumer class that is bigger than any developed Western nation and is also the most heavily industrialized country in the world (it uses half of the world's steel!)
 

rockdog

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Why would a pandemic make any difference or population make any difference in the argument?

1. India has 1.4B people like China but it has only only 2% of the gross. China has nearly 50%.

2. If a pandemic hits in the 1970s, the USSR would never earn 50% of any global movie like "Star Wars" because it was too poor.

Communist nations like N. Korea and the USSR have very small consumer classes. Slave societies like American South were unindustrialized. China is completely different, it has a very large and rapidly growing consumer class that is bigger than any developed Western nation and is also the most heavily industrialized country in the world (it uses half of the world's steel!)
If China is leading in R&D and manufacture field, means it has biggest True mid class in the world to consume. URRS never reached this level.

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johnq

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Again, that is cherrypicked data pushed by Chinese Communist Party (CCP) propaganda. I am not saying the CCP doesn't have money to throw around in research projects or that China is not a manufacturing hub. What I am saying goes to the distribution of wealth, and how the CCP hoardes most of it while the Chinese workers get very little. A lot of those manufacturing jobs are also manned by minorities and political prisoners in slave labor camps, where the owners (CCP) keep all the profits while the workers barely scrape by. Even regular workers in rest of China make a pittance compared to the rest of the world.

PS: All the movie theatres around the parts of the world dealing with the Wuhan lab virus are either closed, or the people themselves are choosing not to risk catching the Wuhan lab virus by going to the movies (the Wuhan lab virus is more infectious in closed spaces).
 

rockdog

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In the first quarter, the electricity consumption of two export-oriented entity increased sharply: the electricity consumption in Shenzhen increased by 31.5% in the first quarter; the electricity consumption in Zhejiang increased by 34.8% year-on-year in the first quarter!

The Shenzhen Power Supply Bureau announced the data on Shenzhen's electricity consumption for the first quarter. In the first quarter, the total electricity consumption in Shenzhen reached 20.95 billion kWh, an increase of 31.5% year-on-year in 2020 and an increase of 15.1% year-on-year in 2019, achieving a "good start" for power growth.

In the first quarter, Zhejiang’s total electricity consumption was 116.9 billion kWh, an increase of 34.8% year-on-year, and an increase of about 18% year-on-year in 2019. This confirms the good economic and social development situation in Zhejiang since the beginning of the year. In the first quarter, the electricity consumption of Zhejiang's primary, secondary, and tertiary industries was 400 million kWh, 79.95 billion kWh, and 18.62 billion kWh, respectively, an increase of 20.2%, 47.2%, and 26.8% year-on-year.

Electricity consumption in these two places has soared, indicating that the economy is good.

----------------

Export is booming now.
 

rockdog

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Here is the import and export report card for the first quarter: a year-on-year increase of 29.2% and a trade surplus of 690.6%! According to the caliber of the US dollar, there is still more than 6%, an increase of about 35%.

According to customs statistics, in the first quarter, country's total import and export of goods trade was 8.47 trillion yuan, a year-on-year increase of 29.2%. Among them, exports were 4.61 trillion yuan, an increase of 38.7%; imports were 3.86 trillion yuan, an increase of 19.3%. The trade surplus was 759.29 billion yuan, an increase of 690.6%.

In the first quarter, ASEAN, the European Union, the United States and Japan were country's top four trading partners, with total imports and exports of 1.24 trillion yuan, 1.19 trillion yuan, 1.08 trillion yuan and 561.42 billion yuan respectively. They were 26.1%, 36.4% and 61.3%, respectively. And 20.8%. In addition, my country’s imports and exports to countries along the “Belt and Road” and RCEP trading partners increased by 21.4% and 22.9%, respectively.
Among them, foreign trade with the United States has grown the fastest. ? They invested a lot of water to buy Chinese products.

Compared with 2019, imports and exports have increased by 20.7% in two years. Cumulative exports in the first quarter were 4.61 trillion to 3.76 trillion, an increase of 22.6% in two years
The cumulative import value in the first quarter was 3.86 trillion to 3.26 trillion, an increase of 18.4% in two years.This corresponds to about 10% per year, which is very fast.
 

johnq

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Much of that is also due to pandemic-based economy. The fact remains that most Chinese workers saving dried up during the pandemic and many are worse off for it; a fact not shown by Chinese Communist Party propaganda. The Chinese Communist Party data also fails to show how millions more (minorites and political prisoners from Hong Kong and elsewhere) have become slaves in labor camps, factories and prisons. They are much worse off, but that is never reflected in big macro-economic figures that only show the totals, whether due to higher power consumption in factories or greater profits due to the exploitation of Chinese laborers and slaves in concentration camps.
 

SexyChineseLady

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Global economy's growth is based mainly on China. Right now, China has the largest consumer class on earth. And unlike Europe, US or Japan, this Chinese consumer class is still growing! Which means a lot of stock market bulls are banking on China :)


 

johnq

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Growth is meaningless for the majority of Chinese population if it's skewed towards the wealthy Chinese Communist Party (CCP) members and their friends in big cities. If CCP make additional profits and buy more luxuries, it certainly adds to the GDP. But those profits come from the exploitation of the Chinese worker and the ever increasing enslavement of millions more (minorities and political prisoners) in concentration camps. That's the dark underbelly not visible to the rest of the world, as it is tightly censored by the CCP and its propagandists. The CCP only likes to show the shiny cities with their wealthy people, and hides the ever increasing numbers of slaves in the concentration camps made up of Uyghurs, Tibetans, Mongolians, Muslims, other minorities and political prisoners (such as democracy activists from Hong Kong) that speak out against the CCP.
 
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