Chinese economy

[ShackledNation]

in theory this should have been true
but you can't hide the 30 years of 10% growth they have experienced.

What we have to admit is that now we know enough about macro economics to avoid serious very serious recessions and depressions.

If the USA survives this crisis Bernanke will go down in history as the greatest central banks of all time by far and China's 30 years boom will go down as the greatest economic miracle in capitalism short but incredible history .

Chinese is experiencing growth due to the freeing up of its markets. But much of it lately is just fueling a bubble. This isn't simply theory, it is reality. There are ghost towns in China that have been built with government money that have nobody living in them.

It is the lack of sensible macroeconomics that leads to these booms and busts in the first place. To say Bernanke is some savior is absurd. If anything he is delaying the inevitable. Spending 16 trillion dollars bailing out banks and corporations around the world is not the way to prosperity.

There is no real bubble in China. If they wanted they could go through and demolish those towns and be right back where they were.

Try telling someone who is trying to sell a house "don't worry, just demolish the house and you will be right back where you started" and see what they say.

 

[AquaAthena]

bump

Good, because it should be pointed out ( unless I missed something ) that their kids are getting much better educations as well. They are the best educated.

"China's education performance - at least in cities such as Shanghai and Hong Kong - seems to be as spectacular as the country's breakneck economic expansion, outperforming many more advanced countries."

Go here to learn how they do it:

BBC News - How China is winning the school race

 

[Unkotare]

bump

Good, because it should be pointed out ( unless I missed something ) that their kids are getting much better educations as well. They are the best educated.

"China's education performance - at least in cities such as Shanghai and Hong Kong - seems to be as spectacular as the country's breakneck economic expansion, outperforming many more advanced countries."

Go here to learn how they do it:

BBC News - How China is winning the school race

And yet here will still have all these people whining about standardized testing...

 

[Middleoftheroad]

Chinese is experiencing growth due to the freeing up of its markets. But much of it lately is just fueling a bubble. This isn't simply theory, it is reality. There are ghost towns in China that have been built with government money that have nobody living in them.

It is the lack of sensible macroeconomics that leads to these booms and busts in the first place. To say Bernanke is some savior is absurd. If anything he is delaying the inevitable. Spending 16 trillion dollars bailing out banks and corporations around the world is not the way to prosperity.

There is no real bubble in China. If they wanted they could go through and demolish those towns and be right back where they were.

Try telling someone who is trying to sell a house "don't worry, just demolish the house and you will be right back where you started" and see what they say.

That's a really bad analogy. The government wasn't trying to build these because they were trying to sell them. Their stimulus was purely that, stimulus, with no intent of lasting effect. That still doesn't signal a bubble. There is no debt related to these homes, they have already been paid for. It sucks that they don't have a use. Maybe someday they will, maybe they wont.

Its more akin to someone buying a house, demolishing it and building a new one in its place. It happens all the time because people want the land. Or any building for that matter.

The government has already incured all the losses on these. So if there was a bubble, it has already burst. In the future, they can possibly sell some of these houses and recouperate some of their losses. But to say it is a bubble is wrong.

 

[Big Fitz]

The difference between western and easter politicians comes down to face.

In the east, when politicans are bought, they STAY bought most times

After that, they're just as greedy and corrupt.

 

[Unkotare]

The Great Property Bubble of China May Be Popping - WSJ.com

 

[Middleoftheroad]

bump

Good, because it should be pointed out ( unless I missed something ) that their kids are getting much better educations as well. They are the best educated.

"China's education performance - at least in cities such as Shanghai and Hong Kong - seems to be as spectacular as the country's breakneck economic expansion, outperforming many more advanced countries."

Go here to learn how they do it:

BBC News - How China is winning the school race

The article seems to say that Shanghai is an abnomaly. I believe it said 80% go to a university afterwards, while in China as a whole, its only 24%. They also said that Shanghai steals all the best teachers around and spends tons of money on education.

 

[Unkotare]

bump

Good, because it should be pointed out ( unless I missed something ) that their kids are getting much better educations as well. They are the best educated.

"China's education performance - at least in cities such as Shanghai and Hong Kong - seems to be as spectacular as the country's breakneck economic expansion, outperforming many more advanced countries."

Go here to learn how they do it:

BBC News - How China is winning the school race

The article seems to say that Shanghai is an abnomaly. I believe it said 80% go to a university afterwards, while in China as a whole, its only 24%. They also said that Shanghai steals all the best teachers around and spends tons of money on education.

You have to remember that China is still predominantly a rural country.

 

[EdwardBaiamonte]

Chinese is experiencing growth due to the freeing up of its markets.

what on earth does that mean?? We freed up the saving and loan industry and it went bankrupt. Russian freed up entire economy and went no where.

China has had 9.5% growth for 30 years in a row. It was all a bubble or it all wasn't!! Obviously, it wasn't based on 30 years of growth.

Libertarians have to bite that bullet and the one about inflation being based on money supply!! Sorry!!

 

[starcraftzzz]

The long-anticipated correction to China's economy may be underway, and it may have very serious consequences.

Dude people like you have been saying this about China for the past 10 years. Its yet to happen

 

[starcraftzzz]

Chinese is experiencing growth due to the freeing up of its markets.

what on earth does that mean?? We freed up the saving and loan industry and it went bankrupt. Russian freed up entire economy and went no where.

China has had 9.5% growth for 30 years in a row. It was all a bubble or it all wasn't!! Obviously, it wasn't based on 30 years of growth.

Libertarians have to bite that bullet and the one about inflation being based on money supply!! Sorry!!

The reason China didn't go through a huge depression like the USSR in the 90's was because China gradually reformed their economy while the USSR tried to do it all at once.
It was stupid of the USSR to think that immediately going from a central command economy to a market one would work.

 

[ShackledNation]

Chinese is experiencing growth due to the freeing up of its markets.

what on earth does that mean?? We freed up the saving and loan industry and it went bankrupt. Russian freed up entire economy and went no where.

China has had 9.5% growth for 30 years in a row. It was all a bubble or it all wasn't!! Obviously, it wasn't based on 30 years of growth.

Libertarians have to bite that bullet and the one about inflation being based on money supply!! Sorry!!

Freeing up of its markets = becoming more like a free market country. Completely different than the sense of the word than the ones you are referencing.

Also, it is not necessary that it was all bubble or all not bubble. Even though a ton of money went into the housing bubble, there was still productivity gained from other sectors. To say it is either all bubble or all growth is not accurate.

 

[EdwardBaiamonte]

The reason China didn't go through a huge depression like the USSR in the 90's was because China gradually reformed their economy while the USSR tried to do it all at once.

totally confused as usual. They set China free in 1978-9

It was stupid of the USSR to think that immediately going from a central command economy to a market one would work.

More perfect liberal ignorance. China was an almost instant conversion by any standards. The problems in Russia are as follows

1) Russians were corrupt and independent under communism so they were not very inclined to go along with a new system imposed on them by a disappearing government, whereas, the Chinese were very submissive to the deadly communist authority that stayed in place and told them to be capitalist to be rich. Too bad our liberal are not half as smart.

2) the corrupt Russian government virtually sold the entire country to a few oligarchs who more or less replaced the government while China encouraged millions and millions of new businesses plus international development through its international city, Hong Kong.

 

[starcraftzzz]

The reason China didn't go through a huge depression like the USSR in the 90's was because China gradually reformed their economy while the USSR tried to do it all at once.

totally confused as usual. They set China free in 1978-9

Jesus so your such a retard that you do not realize that the majority of China's economy is based on corporations owned by the government

It was stupid of the USSR to think that immediately going from a central command economy to a market one would work.

More perfect liberal ignorance. China was an almost instant conversion by any standards. The problems in Russia are as follows[/quote]
Who knew that 50% of your economy being controlled entirely by the government 40 years later is an instant conversion f rom a government run economy to a market one
how is it that you are so dman cluless

 

[EdwardBaiamonte]

Who knew that 50% of your economy being controlled entirely by the government 40 years later is an instant conversion f rom a government run economy to a market one
how is it that you are so dman cluless

50% may be about right but the USA is probably about 35%. In any case what the Chinese government controls it lets compete very successfully on world markets. So in that sense it is very capitalistic especially when compared to the 100% control 30 years ago which featured no domestic or international competition.

Most of this stuff is way over your head. Why try so hard. You cant fake intelligence about this stuff and think you are fooling anyone. You're fooling yourself, no one else. Sorry

 

[greentaloy]

sure,many have got the insight of China Eco....

 

[EdwardBaiamonte]

Who knew that 50% of your economy being controlled entirely by the government 40 years later is an instant conversion

dear its an instant conversion from 100% to 50% and apparently it stopped another 60 million from starving to death. Did you think the Girl Scouts stopped that?

 

[waltky]

Granny gettin' a good return on her rickshaw stock...

China's economy grows 6.7% in 2016
Fri, 20 Jan 2017 - The figure meets Beijing's forecasts, but some say growth is slower than the official data suggests.

China's economy grew by 6.7% in 2016, compared with 6.9% a year earlier, according to official data, marking its slowest growth since 1990. The figure is in line with Beijing's growth target of between 6.5% and 7%. But the data comes days after the leader of one Chinese province admitted GDP data was faked for several years. China is a key driver of the global economy and a growth slowdown is a major concern for investors around the world.

'Deception'

Some analysts have taken heart from data showing growth in the last three months of 2016 was at an annual rate of 6.8% - a slightly faster pace than the rest of the year. But many observers have been saying for years that the country's growth was actually much weaker than the official data suggests. And those beliefs gained more support this week, when the governor of Liaoning, Chen Qiufa, said his province had been "involved in a large-scale financial deception" between 2011 and 2014, and that economic data had been doctored. Addressing reporters' questions about the Liaoning admission, the director of the National Bureau of Statistics said on Friday that the national data was "truthful and reliable".

Ning Jizhe added that "statistics departments on various levels will also be strengthening the law enforcement, supervision, and checks on figures" and "resolutely guarding and preventing" the fabricating of data. China is the world's second-biggest importer of both goods and commercial services, meaning its economic performance has a big knock-on impact around the world. It plays an important role as a buyer of oil and other commodities, and its slowdown has been a factor in the decline in the prices of such goods. Beijing's aim to rebalance the economy towards domestic consumption has led to major challenges for large manufacturing sectors, and there have been layoffs - especially in heavily staffed state-run sectors such as the steel industry.

Can we trust the numbers? By Stephen McDonell, BBC Beijing Correspondent

Plenty of economists think that GDP is a massively flawed form of measuring the health of any economy but in this country it is even worse. There is a significant proportion of China watchers who don't believe the GDP figures are real at all. For example, in 2016, the country's (year on year) GDP was exactly 6.7% for three quarters in a row. While this seems numerically unlikely, I suppose it is possible that this could happen. Without solid, reliable figures this remains a debate with wide-ranging, conflicting views. Mind you, even if at worse China's real GDP is around 4% at present, there are plenty of national governments which wouldn't mind a taste of those numbers.

Trump effect?

 

[EdwardBaiamonte]

Granny gettin' a good return on her rickshaw stock...

China's economy grows 6.7% in 2016
Fri, 20 Jan 2017 - The figure meets Beijing's forecasts, but some say growth is slower than the official data suggests.

China's economy grew by 6.7% in 2016, compared with 6.9% a year earlier, according to official data, marking its slowest growth since 1990. The figure is in line with Beijing's growth target of between 6.5% and 7%. But the data comes days after the leader of one Chinese province admitted GDP data was faked for several years. China is a key driver of the global economy and a growth slowdown is a major concern for investors around the world.

'Deception'

Some analysts have taken heart from data showing growth in the last three months of 2016 was at an annual rate of 6.8% - a slightly faster pace than the rest of the year. But many observers have been saying for years that the country's growth was actually much weaker than the official data suggests. And those beliefs gained more support this week, when the governor of Liaoning, Chen Qiufa, said his province had been "involved in a large-scale financial deception" between 2011 and 2014, and that economic data had been doctored. Addressing reporters' questions about the Liaoning admission, the director of the National Bureau of Statistics said on Friday that the national data was "truthful and reliable".

Ning Jizhe added that "statistics departments on various levels will also be strengthening the law enforcement, supervision, and checks on figures" and "resolutely guarding and preventing" the fabricating of data. China is the world's second-biggest importer of both goods and commercial services, meaning its economic performance has a big knock-on impact around the world. It plays an important role as a buyer of oil and other commodities, and its slowdown has been a factor in the decline in the prices of such goods. Beijing's aim to rebalance the economy towards domestic consumption has led to major challenges for large manufacturing sectors, and there have been layoffs - especially in heavily staffed state-run sectors such as the steel industry.

Can we trust the numbers? By Stephen McDonell, BBC Beijing Correspondent

Plenty of economists think that GDP is a massively flawed form of measuring the health of any economy but in this country it is even worse. There is a significant proportion of China watchers who don't believe the GDP figures are real at all. For example, in 2016, the country's (year on year) GDP was exactly 6.7% for three quarters in a row. While this seems numerically unlikely, I suppose it is possible that this could happen. Without solid, reliable figures this remains a debate with wide-ranging, conflicting views. Mind you, even if at worse China's real GDP is around 4% at present, there are plenty of national governments which wouldn't mind a taste of those numbers.

Trump effect?

China now leads the world in consumption of autos, movies and air plane trips. This is up from nothing 30 years ago and makes 10% growth seem very believable. Plus, they now have 10 cities all bigger than NYC that barely existed 20 years ago. That is massive growth!!

The world bank estimates that the switch to Republican capitalism in China eliminated 40% of the planets poverty and saved perhaps 60 million from slowly starving to death. How do we thank Republicans for this.

 

[DrainBamage]

The world bank estimates that the switch to Republican capitalism in China eliminated 40% of the planets poverty and saved perhaps 60 million from slowly starving to death. How do we thank Republicans for this.

Can you provide the source for this? Where the world bank says anything about the Republican party, or estimates how many millions were saved from starving to death in China?