China Economy: News & Discussion

Azaad

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No country has a monopoly on the car industry,



Evs are easier to make and are known in China as "smartphones on wheels"



Even if China has an edge in batteries, it is not irreplaceable
What a coincidence ! Bet it's not the first time it's happened. Senior bots @SexyChineseLady ; @rockdog are gone for the weekend unlike previous episodes & immature extremely junior MSS trainee @ym888 is around. Maybe bonus time ,maybe 2 USDs a post have been announced . For the senior staff. Pls note ym888. Plus year end incentives for delivering stuff in Quad countries.

I'd think it's party time for the off time for wumaos is in honour of the indigenous Chinese airliner launched . Maybe even a public holiday with Emperor Xi clapping as in communist celebrations . @RoaringTigerHiddenDragon
 
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SexyChineseLady

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Not just the C919 and MRJ had made Japan introspective but what is happening with cars too.

A Japanese auto writer visits the Shanghai Auto Show and leaves feeling overwhelmed with a sense of crisis.

China is blazing ahead not just with EVs but with cars in general. The designs, values and visions are so forward looking that the momentum seems irresistable.

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RoaringTigerHiddenDragon

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why only talk about toys?

for Korea,big surplus by China,ur claim is wrong:


Korea's trade with China goes from huge surpluses to big deficits
First of all the deficit is only a puny $5 billion and it has just happened. And it happened because chinese economy declined and imports were massively down. It did not happen because of import substitution by China. The thing is when chinese economy was doing well, that is up until 2019, Korea had huge surplus of $29 billion. Chinese exports grew on the back of massive imports from japan, Korea, Taiwan etc. So, your argument does not hold.
 

ym888

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First of all the deficit is only a puny $5 billion and it has just happened. And it happened because chinese economy declined and imports were massively down. It did not happen because of import substitution by China. The thing is when chinese economy was doing well, that is up until 2019, Korea had huge surplus of $29 billion. Chinese exports grew on the back of massive imports from japan, Korea, Taiwan etc. So, your argument does not hold.
The latest news


South Korea's trade deficit with China was $10 billion in the first four months of 2023


Data is boring. Let economists analyze it





Your argument that China cannot be replaced in the business of cheap supply chains is false. It does not hold anymore.
Is that what I said?
 

RoaringTigerHiddenDragon

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The latest news


South Korea's trade deficit with China was $10 billion in the first four months of 2023


Data is boring. Let economists analyze it







Is that what I said?
I dont think you understood. The trade deficit will increase as Chinese export economy crashes. This means while Koreans have the economy to continue imports, chinese economy is falling drastically to be able to import. And the domestic Chinese are way too poor to afford Korean products. I expect it to widen further. This trade surplus that China currently has with Korea is due to crashing chinese economy and not a metric to boast about.
On supply chains, you seem to post rankings as if to say the world cannot live without chinese exports. This is no longer true. We have seen that supply chains can be moved.
 

ym888

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Tesla and BYD electric cars made in China have entered Korea


テスラとBYDのEVに乗り中国製バッテリーが押し寄せる=韓国
6/1(木) 8:49配信
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中央日報日本語版
 

ym888

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China is solidifying its leading position in the renewable energy sector, as indicated by a recent report from the International Energy Agency (IEA). Released on Thursday, the report reveals that China is projected to contribute nearly 55 percent of the worldwide increase in renewable power capacity in 2023 and 2024.

The IEA's new Renewable Energy Market Update projects a significant surge in global renewable capacity additions, with an increase of 107 gigawatts (GW) in 2023, marking the largest absolute increase to date. The total renewable capacity is set to exceed 440 GW by 2023.

The report highlights the global expansion of renewables, with major markets worldwide experiencing dynamic growth. Europe is accelerating its renewable energy efforts as a response to the energy crisis, while the U.S. and India are also expected to witness significant increases in the next two years, driven by new policy measures.

Solar PV additions are projected to contribute two-thirds of this year's increase in renewable power capacity and are expected to continue growing in 2024. The report also anticipates a doubling of manufacturing capacity for all solar PV production segments to 1,000 GW by 2024, primarily led by China, with increased supply diversification in the U.S., India, and Europe.

Looking ahead, the report predicts a continued upward trajectory in renewable electricity capacity, reaching 4,500 GW worldwide by 2024. This capacity would be equivalent to the combined power output of China and the U.S.
 

rockdog

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First of all the deficit is only a puny $5 billion and it has just happened. And it happened because chinese economy declined and imports were massively down. It did not happen because of import substitution by China. The thing is when chinese economy was doing well, that is up until 2019, Korea had huge surplus of $29 billion. Chinese exports grew on the back of massive imports from japan, Korea, Taiwan etc. So, your argument does not hold.
Interesting, for Toy u talk about now, for Korea u talk about 2019...
 

ym888

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Visa Demoted to Second Most Used Debit Card in 2022
Sophia Gonzalez
by Sophia Gonzalez

June 1, 2023


Visa Drops Plaid Acquisition to Avoid Fight with the Justice Department

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Visa has been the world’s most popular debit card provider for many years. However, according to the latest research, China UnionPay overtook the U.S. Visa debit card for the first time last year.
Out of the total 624.86 billion worldwide card transactions from Visa, UnionPay, Mastercard, American Express, and other major card providers, UnionPay accounted for 40.03% of the world’s debit card market in 2022 while Visa fell short at 38.78%.
The count of card payments continues to grow year over year. When comparing 2021 to 2022, there was a 7.5% increase in card payments. UnionPay showed growth with a 1.39 percentage point increase and Visa suffered a dip of 0.82 percentage points.
In terms of credit and debit share, Visa came in at No. 1 with 38.7% share and UnionPay fell behind at 34%. Credit is popular in the U.S.—but not as popular on the global scale. It makes sense that China UnionPay would fall behind when credit is considered.
In mid-2022, China unveiled tighter rules to regulate their $1.3 trillion credit card industry. With the new rules, lenders were urged to adopt a “prudent” growth strategy and to stop using the number of cards issued as a performance metric. Banks were also required to cap the number of dormant cards at 20% of total cards.
In the U.S., there is no regulatory cap on the number of dormant cards in the market. However, issuers have a limit to the amount of credit they can extend, and since they would rather extend credit to active cardholders who would utilize the credit, there is an innate incentive to close inactive accounts. Credit card accounts may be closed anywhere from six months to greater than two years of inactivity.
There is a global trend of increasing card payments as the preferred way to pay. Debit is the most favored card payment globally and will continue to grow at a faster pace than credit. Visa will continue to hold its market share when credit is accounted for but may struggle to reach the No. 1 spot again for debit alone as other markets ramp up their debit utilization. UnionPay surpassing Visa’s debit share is a major feat. Visa may change their global strategy to attempt to regain debit market share.
Overview by Sophia Gonzalez, Research Analyst, Debit Advisory Service at Javelin Strategy & Research.
 

SexyChineseLady

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The CEOs would not be in China if the US Government really didn't want them there.

There has been a flurry of exchanges -- things really picked up after the Micron ban:


 

Azaad

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Excellent. CCP has indeed prepared well for the rapidly falling & ageing demographics. Unfortunately robots aren't consumers but producers. Hopefully China'd still ge able to raise domestic consumption in the face of falling exports. Hope all those jailed entrepreneurs like Jack Ma don't spend a day behind bar than they have to.
 

SexyChineseLady

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Excellent. CCP has indeed prepared well for the rapidly falling & ageing demographics. Unfortunately robots aren't consumers but producers. Hopefully China'd still ge able to raise domestic consumption in the face of falling exports. Hope all those jailed entrepreneurs like Jack Ma don't spend a day behind bar than they have to.
China is already the world's largest market for everything from car to beer with rapidly rising wages ;)

And there will still be over a billion people in China not matter what the birthrate in the coming years. Consumption in China will continue growing as per capita income rises.

But with automation, the biggest problem is not consumption but jobs. The countries with the youngest populations will be the most impacted by robots taking over work. It will be harder and harder to gainfully employ the millions entering the job market every year.

Services will go away with AI and machine learning.
 

rockdog

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China is already the world's largest market for everything from car to beer with rapidly rising wages ;)

And there will still be over a billion people in China not matter what the birthrate in the coming years. Consumption in China will continue growing as per capita income rises.

But with automation, the biggest problem is not consumption but jobs. The countries with the youngest populations will be the most impacted by robots taking over work. It will be harder and harder to gainfully employ the millions entering the job market every year.

Services will go away with AI and machine learning.
A 1 Billion LNG ship only creates 1000 job, 1 Billion shoes would creates 30,000 jobs, it will have problem for China.
 

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