China Economy: News & Discussion

[rockdog]

“There have been instances of flash flooding in the north east before particularly in the Brahmaputra where th Chinese have released waters causing flash floods in India & Bangladesh. ”

What I'm interested in is how China released waters in 2018？

So far no damage on Doklam area in China, a newly built dam inside Sikkim was collapsed, two others are halt. No worry.

 

[rockdog]

insightful,

Mr Wan Gang, a former Audi engineer was the hero!

 

[SexyChineseLady]

insightful,

Mr Wan Gang, a former Audi engineer was the hero!

Wow! What a great documentary. China brought in VW and allowed to dominate 50% of China's sales to kick start the auto industry in the 1980 and 90s. Then it funded EV supply chain to leapfrog ICE. And it allowed Tesla in China to raise the level of competition making everyone better!

Very few countries would have the foresight and courage to make those moves.

 

[SexyChineseLady]

China's advances in chips is matched by its advances in aerospace.

If China creates a fully domestic supply chain in chips the impacted countries would not be the US but its allies.

But if China develops a domestic airliners industry even if it is just for China's own market, it impacts the US directly.

https://www.washingtonpost.com/business/energy/2023/10/05/aerospace-is-a-bigger-threat-to-us-trade-than-chinese-chips/89aa13ba-63c8-11ee-b406-3ea724995806_story.html

 

[rockdog]

Wow! What a great documentary. China brought in VW and allowed to dominate 50% of China's sales to kick start the auto industry in the 1980 and 90s. Then it funded EV supply chain to leapfrog ICE. And it allowed Tesla in China to raise the level of competition making everyone better!

Very few countries would have the foresight and courage to make those moves.

Not all the long term plan worked, check the football of China, that's shitty as hell ...

 

[SexyChineseLady]

Not all the long term plan worked, check the football of China, that's shitty as hell ...

Yes. You can never get to 100% right on all things. That is why China does broad approaches. It funds many things, many of them far reaching. A lot will fail but those that survive can be epic. This is basically Silicon Valley during Dot Com era. Millions of failed startups to produce the Google and Amazon of today.

Also nothing lasts forever. Chinese football was rather good in 1990s and 2000s, at least in Asia. Won East Asian Cup twice. (Need to beat Korea and Japan which are the premier programs in Asia to win those.) Also was in Asian Cup championship games twice. The key is establishing a legacy while things were working. Maybe the EEAC and AC finals were not enough but they were not nothing

Evergrande is having trouble today but the policies and model of development that created Evergrande (incorporated in 1990s) allowed for 30 years of rapid development that urbanized China.

Policies don't work forever but they can work wonders during the right time and for specific periods.

 

[SexyChineseLady]

The power of wage growth plus low inflation. Common sense but very few countries, especially in the Global South that can manage this:

 

[ym888]

Not all the long term plan worked, check the football of China, that's shitty as hell ...

Chinese football has no long-term plan

 

[rockdog]

Chinese football has no long-term plan

 

[RoaringTigerHiddenDragon]

Flash flood washes away 23 Indian soldiers in mountainous Sikkim

retired Indian military officials are speculating these floods are due to intentional weather manipulation from China to inflict damage on India's border infrastructure

Probably more like poorly built Chinese dams forced to release water so they don’t break down. The 3 gorges dam is a good example of poor construction standards like everywhere in China.

 

[RoaringTigerHiddenDragon]

So the three countries should strengthen their ties

India and China did sign border agreements in 1992 not to alter the LAC, you know? Then the Chinese barbarians came with barbed wire sticks.

 

[RoaringTigerHiddenDragon]

Not all the long term plan worked, check the football of China, that's shitty as hell ...

Most Chinese plans are shitty as hell…look at the economic plans and overbuilding from the 90s. It has failed spectacularly wiping away hundreds of billions in savings. Now 50% people still make less than $3 a day and the country is full of unfinished infrastructure, tofu buildings, and bankrupt companies. Basically only the Wall Street fat cats and the CCP party secretaries and their close circle made all the money and fled to the west when possible. All the peasants got royally shafted. If this isn’t the worst plan in the world, I don’t know what else is. Generally speaking Chinese plans like the BRI are pretty shitty - devised and deployed without much analysis and thought.

 

[rockdog]

Most Chinese plans are shitty as hell…look at the economic plans and overbuilding from the 90s. It has failed spectacularly wiping away hundreds of billions in savings. Now 50% people still make less than $3 a day and the country is full of unfinished infrastructure, tofu buildings, and bankrupt companies. Basically only the Wall Street fat cats and the CCP party secretaries and their close circle made all the money and fled to the west when possible. All the peasants got royally shafted. If this isn’t the worst plan in the world, I don’t know what else is. Generally speaking Chinese plans like the BRI are pretty shitty - devised and deployed without much analysis and thought.

Actually, without those long term plan like economic reform, weapon projects, OBOR, our GDP would be as poor as India.

It's my first timd heard "China did shit plan" from Indian.

 

[RoaringTigerHiddenDragon]

Actually, without those long term plan like economic reform, weapon projects, OBOR, our GDP would be as poor as India.

It's my first timd heard "China did shit plan" from Indian.

Your GDP is as “poor” as India, might be even poorer. Creating artificial stuff is not economic reform or plan. It just benefits the financial criminals.The amount of misery in China today clearly proves that the economic planning has totally failed. OBOR, BRI are giant failures that has not contributed to any growth, just excess debt-laden consumption. Like I said before rural Indians do not scrounge around in trash for food or crawl on pavements to drink dirty water. Jobless influencers don’t live in holes in viaducts either.
I no longer think at an individual level Indians are poorer than Chinese. Chasing artificial GDP has not gotten China anywhere.

 

[ym888]

Actually, without those long term plan like economic reform, weapon projects, OBOR, our GDP would be as poor as India.

It's my first timd heard "China did shit plan" from Indian.

India’s GDP gap with US, China is widening alarmingly

www.deccanherald.com

 

[ym888]

When India’s GDP briefly exceeded China’s
The World Bank compiled data from 1960 to 2022 for comparison, dividing the period into distinct events, including China's cultural revolution from 1966 to 1977, economic reforms in India beginning 1991, the 2008 Global Financial Crisis, and the global COVID-19 pandemic in 2020.







Did you know that India surpassed China in terms of gross domestic product (GDP) some three decades ago? A visual representation of economic data by multi-lateral lender World Bank shows a dramatic historic moment for India back in the late 1980s!




According to the infographic, India’s economy briefly outgrew its neighbour's after a gradual — and dramatic — narrowing of the gap between the two since the early 1980s.

The World Bank compiled data from 1960 to 2022 for comparison, dividing the period into distinct events, including China's cultural revolution from 1966 to 1977, India's economic reforms beginning 1991, the 2008 Global Financial Crisis, and the global coronavirus pandemic in 2020.

(A screenshot from the World Bank's visualisation capturing the period in 1988 when India briefly surpassed China in terms of GDP)
Prior to 1988, the economies of the two nations came in neck-and-neck distance earlier in the mid-1960s, according to the data.
Separate data from the World Bank, accessed by Zeebiz.com, showed economic growth averaged 9.03 per cent in China and 6.38 per cent in India from 1988 to 2020.
China began its crucial reforms in 1978 under Deng Xiaoping, which would eventually take the country among the top five economies over the next three decades, and eventually to the No. 2 spot in 2010.

The brief period in 1988 when India’s economy was larger than China’s was about five years after each entered the $200-billion club. The milestone came about even a good three years before the historic economic liberalisation drive led by the PV Narsimha Rao government in India to rescue the country from severe economic crisis amid mounting external debt.

(A screenshot capturing the entire period, from 1988 to 2022, covered in the World Bank clip)
What next?
In June, the World Bank cut its 2024 global forecast while lifting its outlook for the current year, stating that the US, China, and other major economies have proven to be more resilient than thought earlier but added that higher interest rates and tighter credit will take a bigger toll in 2024.
The World Bank projects the real global GDP to expand 2.1 per cent in 2023 — a full percentage point less than 2022 — and 2.4 per cent in 2024, as of its June estimates.
It expects a pronounced deceleration in advanced economies and the impact of monetary tightening for many major economies this year, according to its June projections.
The World Bank pegs GDP growth for India and China in 2023-2024 at 6.3 per cent and 4.6 per cent, respectively.
In the first three months of 2023, India's GDP growth stood at 6.1 per cent better than China's 4.5 per cent, though its fastest in a year.
While official quarterly data on India’s GDP for the quarter ended June is due at the end of August, its neighbouring economy expanded 6.3 per cent for the three-month period.

 

[ym888]

UAE's first wind power project built by Chinese company goes into operation
CGTN

Group photo of personnel from China and UAE standing in front of the wind power project built in Abu Dhabi, UAE, September 2023. /PowerChina
The United Arab Emirates' (UAE) first wind power demonstration project contracted and built by a Chinese company, the Power Construction Corporation of China (PowerChina), went into production in UAE's capital Abu Dhabi on Saturday.
Consisting of four wind farms, the project has a total installed capacity of 117.5 megawatts.
Sultan Al Jaber, president-designate of the 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change, said that the project demonstrates UAE's commitment to expanding clean energy investment.
The COP28 will be held in Dubai from November 30 to December 12 this year.
The UAE previously announced achieving net-zero emissions by 2050.
Last year, the government targeted a 31 percent reduction in greenhouse gas emissions by 2030, which requires an investment of around $163 billion in clean energy and renewables, according to data from the International Monetary Fund.

 

[rockdog]

UAE's first wind power project built by Chinese company goes into operation
CGTN

Group photo of personnel from China and UAE standing in front of the wind power project built in Abu Dhabi, UAE, September 2023. /PowerChina
The United Arab Emirates' (UAE) first wind power demonstration project contracted and built by a Chinese company, the Power Construction Corporation of China (PowerChina), went into production in UAE's capital Abu Dhabi on Saturday.
Consisting of four wind farms, the project has a total installed capacity of 117.5 megawatts.
Sultan Al Jaber, president-designate of the 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change, said that the project demonstrates UAE's commitment to expanding clean energy investment.
The COP28 will be held in Dubai from November 30 to December 12 this year.
The UAE previously announced achieving net-zero emissions by 2050.
Last year, the government targeted a 31 percent reduction in greenhouse gas emissions by 2030, which requires an investment of around $163 billion in clean energy and renewables, according to data from the International Monetary Fund.

Not a big news:

Chinese manufacturers dominate wind power, taking 60% of global market. TOKYO -- China is emerging as a dominant player in global wind power generation, with the country's manufacturers supplying nearly 60% of installed capacity worldwide in 2022.

Chinese manufacturers dominate wind power, taking 60% of global market

China leads in renewable energy as Europe falls behind

asia.nikkei.com

This national holiday, when i was travelling in Qinghai, Xinjiang, Gansu, i saw countless wind towers along the highways, 5 times more than 5 yrs ago, when i was in western part.


On the way to Qinghai, Delingha city.

On the way to Xinjiang, Turpan city.

On the way to Gansu, Hexi corridor

 

[ym888]

Not a big news:

Chinese manufacturers dominate wind power, taking 60% of global market. TOKYO -- China is emerging as a dominant player in global wind power generation, with the country's manufacturers supplying nearly 60% of installed capacity worldwide in 2022.

Chinese manufacturers dominate wind power, taking 60% of global market

China leads in renewable energy as Europe falls behind

asia.nikkei.com

This national holiday, when i was travelling in Qinghai, Xinjiang, Gansu, i saw countless wind towers along the highways, 5 times more than 5 yrs ago, when i was in western part.


On the way to Qinghai, Delingha city.

View attachment 225244


On the way to Xinjiang, Turpan city.

View attachment 225245


On the way to Gansu, Hexi corridor

View attachment 225246

Wonderful trade

China exports wind power and photovoltaics to the Middle East,

and imports oil and gas from the Middle East

 

[rockdog]

Wonderful trade

China exports wind power and photovoltaics to the Middle East,

and imports oil and gas from the Middle East

In next 2 decades, engery is no more just resource, but industrial product.

Mid east nations are eager to hedge it. Guess who is the biggest product maker?

Huawei wins major energy storage project contract in Saudi Arabia

Chinese tech giant Huawei Digital Power has signed a contract with China's SEPCOIII, a construction and engineering company and power plant operator, for a 400 MW PV plus 1300 MWh battery energy storage project in Saudi Arabia. Developed by ACWA Power, with SEPCOIII serving as general contractor...

www.pv-magazine.com

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

Indutrilized energy product like solar power, wind power, hydro power;
Power conservation system by State Grid, Huawei, BYD, CATL;
EV consumer end by BYD, NIO, SAIC ....

A super engery/industry/resouce/transportation circulaition inside China, and then cost down for all the supply chain, then we would export to world with killing price under massive user experiences.

Cheap energy made BASF moved $10B facotory to China, made local VW ID.3 1/3 price when it produced in EU.

This is the "bad plan" as some of our Indian member claimed.