Chinese Economy: General News, Updates and Discussions

[Joe Shearer]

Yup, economic development can't be separated from cultural underpinning. Notice how East Asia is becoming the world center of economic gravity. Look at Vietnam the country was mired in war for most of the last century. Yet now she has one of the fastest economies in the world. Also, Argentina was once the richest country in the world now she has become a pauper

My comment was written bearing in mind the peculiar social structures and social characteristics of India.

India is, in cultural terms, and in terms of social behaviour, strikingly different from East Asia. Only a madman would even try to encapsulate this culture and this social behaviour on the pages of a forum as short-winded as this and similar ones. If one must risk grievous loss of face and public ridicule in upholding the situation as it exists, in the settled areas (outside the forests and the hills), people comfortably form small teams at work, they work well on very sophisticated handiwork, typically, as a starting point, on handicrafts, their productivity is affected by the climate, they are distracted by social and religious functions, and they tend to adhere to existing work relationships far beyond the international norm.

One could go on, but this is the stuff of many dozens of doctoral theses.

 

[uhuru]

Always tedious and dumb answer, one and the same. I think that you are over payed.
I got it , those pesky social points.

this monger has been around like a flea on the previous forums. somehow he is definitely a paid shill. Even the ladies on professional mourners in China earn better than this useless copy/paste ... definitely, i even offered him work here including mental therapy which includes electrostatic shock therapy by my chinese colleagues.

I show them his posts... they all laugh... only one word they call out.. w..u ..m a. o..

so much for chinese technology... this is a guy who needs to be replaced by a good AI bot. but... it is too expensive to waste resources ... 5 cents vs 50cents for an AI bot.

 

[Beijingwalker]

we all know the parasite 5c monger you are..
here is 5 cents.... you deserve it ...

reported.

 

[The SC]

Guys ..stop getting personal..

Keep to the subject at hand.. you can discuss it with facts and figures..

 

[Hendarto]

Testimony of AmCham chairman China ceased to be a cheap place to invest Instead you get efficient workers and a sophisticated supply chain. Manufacturing elsewhere is always going to be more expensive! Friendshoring defies economic logic

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[Hendarto]

The Chinese economy just chugged along nicely
Not great but not bad either

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[Nuffle]

China adjusts accounting methods to curb data manipulation, clean up GDP figures

The added value of the financial sector is being calculated via a new set of metrics to increase statistical accuracy and cut down on data manipulation, making GDP figures more resilient to massaging by localities.

www.scmp.com

​

China adjusts added value accounting to mitigate data manipulation, clean up GDP statistics​

• China has revised the way it calculates the added value of the financial sector to make GDP figures more accurate, clamp down on data manipulation
• New method will lead to some changes in aggregate figures, analysts say, but numbers expected to normalise by next year

Analysis: China's spy agency now watches for doomsayers

With increasing power over 'economic security,' ministry hints at crackdown

asia.nikkei.com

Analysis: China's spy agency now watches for doomsayers​

With increasing power over 'economic security,' ministry hints at crackdown

 

[Beijingwalker]

Countries with the highest outbound tourism expenditure worldwide from 2019 to 2023
(in billion U.S. dollars)

 

[Beijingwalker]

China is graducally recovering to its pre covid level year on year.

 

[Hendarto]

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In a world grappling with economic uncertainties, China has defied expectations with a staggering $3.46 trillion trade surge in just seven months of 2024. How is China achieving such remarkable growth amidst global challenges? Join us as we delve into the driving forces behind China's trade success, from advanced manufacturing technologies to strategic trade diversification and resilience against protectionism.In this video, we’ll explore:

The impressive 6.2% year-on-year growth in China’s foreign trade.Key factors fueling China's manufacturing strength, including the adoption of AI and IoT.

How China's trade with ASEAN and Belt and Road Initiative countries is shaping global commerce.The impact of global economic conditions on China's trade performance.

An unexpected twist: China’s development of a blockchain-based international trade platform.

Stay until the end for a surprising factor that could further boost China’s trade dominance. Don’t forget to like, share, and subscribe to stay updated with our latest analyses on global economic trends and China’s influence.

 

[Beijingwalker]

Chinese Yuan Beats Euro To Become the Second Most Used Currency​

Vinod Dsouza
September 1, 2024

The Chinese yuan is surging rapidly in trade settlements elbowing the Euro to become the second most used currency. BRICS member China is advancing in toppling the Euro making the Chinese yuan take the spot below the US dollar. The Xi Jinping administration is aggressive in pushing its native currency on the global stage making several developing countries settle trade payments in it.

While recent data from Bloomberg shows that the Chinese yuan outperformed the Euro in April 2024, it reclaimed the share again in June. The latest data from the payment messaging system SWIFT highlights that the Chinese yuan approached nearly 6% in April 2024. Trade payments in the Chinese yuan increased by 13.37% in June retaining the second place only below the US dollar. The development comes at a time when BRICS is looking to dim the lights on the US dollar and the Euro and make the Chinese yuan and other local currencies supreme.

Chinese Yuan Overpowering the Euro​

The internationalization of the Chinese yuan comes after the US pressed sanctions on Russia in February 2022 for invading Ukraine. BRICS country China took advantage of the situation pushing the de-dollarization agenda and the Chinese yuan across the globe. De-dollarization is a broader web that also targets the Euro, Pound, and other leading Western currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

The internationalization of the Chinese yuan comes after the US pressed sanctions on Russia in February 2022 for invading Ukraine. BRICS country China took advantage of the situation pushing the de-dollarization agenda and the Chinese yuan across the globe. De-dollarization is a broader web that also targets the Euro, Pound, and other leading Western currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

Even the US Treasury Secretary Janet Yellen confirmed that the sanctions are what led to BRICS initiating de-dollarization. China is convincing several developing countries to cut ties with the US dollar and settle trade in local currencies. The Communist country is also pushing the Chinese yuan as the first payment option with its BRICS counterparts. The threat to the US dollar and Euro from BRICS member China is looming while the Chinese yuan aims to take the top spot.

 

[Beijingwalker]

If US loses its global dollar domination, it will become a developing nation overnight.

 

[muhammed45]

If US loses its global dollar domination, it will become a developing nation overnight.

They still have printing machines in their backyards working non stop. Rednecks print dollar out of thin air. Even in Afghanistan they had a printing machine used to print Afghani-dollar.

To remove this colonial cancer from global transactions, a great alliance between countries is needed.

 

[DoTell]

If US loses its global dollar domination, it will become a developing nation overnight.

But they still can call you a thief, a cheat, a threat, a bully, and deploy missiles and send warships to your door steps. They'll still lecture you on freedom

Oh "The significance of passage of time ..."
-- Deep thoughts by Kamala Harris

 

[Beijingwalker]

They still have printing machines in their backyards working non stop. Rednecks print dollar out of thin air. Even in Afghanistan they had a printing machine used to print Afghani-dollar.

To remove this colonial cancer from global transactions, a great alliance between countries is needed.

Every country can print money, not every country can produce goods, without goods, money is meaningless.