Comments by "D W" (@DW-op7ly) on "Tesla's Driverless Push in China Set to Meet Domestic Competition" video.

  1.  @sijugeo1973  The western multinationals went to China at the time because of their weak labour laws, weak environmental laws, mass pool of cheap labour they could pay dollar a day wages to And yes weak IP laws that went along with it We didn’t do them any favours paying those dollar a day wages In exchange the western multinationals traded knowledge and investment This was nothing new, the west goes to 3rd world or developing nation takes advantages of this country until the locals complain about wages, pollution, or environmental damages. Western multinationals pick up and run for it. Difference is the Chinese didn’t complain they put up with those dollar a day wages making 22 times less than what an average American worker made. Put up with that killer smog and that toxic lake 7 miles wide (the left over toxic waste from the Rare Earths used to make our high tech gadgets) Yet saved 30% of those wages over 30 plus years. Indirectly loaning those saving to those Americans so they could spend their savings and borrow to spend some more. While the Chinese took those savings invested or made a business with their savings Yeah sure we expected them to buy 1 billion toothbrushes and 2 billion socks What we didn’t expect was for them to enrich themselves My proof even before our western Governments and western corporations pushed for Chinas inclusion into the WTO? Our top of the food chain 1%ters and their TOOBIGTOFAIL investment banks, worked out the worst deal ever for themselves A 33% interest in a Joint Venture Banking Subsidiary where the Chinese parent bank held a 67% interest
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  2.  @sijugeo1973  What most people don’t get? Is yes in “most” cases when you go to China to sell into their domestic markets you have to take a JV partner And I’m “most” cases when you go to China to open up a factory export those goods back to your country you don’t have to take in a JV partner These days ????? Is it is US multinationals making the lion share of those profits inflating the trade deficit between China to the USA Where Chinese companies mostly trade with their Belt and Road country partners these days These US multinationals are the ones sending you that junk These US multinationals are still using the same highly polluting labour intensive factories formula. As they were using more and more illegal labour smuggled in from South East Asia. Or more and more automation in their wholly owned factories in China these days These are the same companies who got those trump Corporate tax cuts you for sure cheered about Same companies based in China who derived 392 billion in sales into the Chinese domestic markets in 2018 when trump started his trade war Same companies averaging 20 to 40% of their earnings from China whose high flying stocks are in your 401k/Pensions Same companies who the American farmer and consumer were sacrificed. So the USA could try and get “more” or “better” access for the US multinationals, into those Chinese Domestic markets during the trade war Same companies whose HQ is in a North American city you can easily go stand outside and protest at…. Why didn’t China pull the nuclear trade option and boot these US companies you might ask? They don’t believe in a zero sum game type of thinking As I can show you during the trade war. China didn’t pull out their big trade weapons, in fact they were lowering tariffs to most countries not raising them 👇 Trump’s ‘trade war’ with China won’t be so easy to win Having learned these value chain lessons, Beijing has worked hard to bring more of the high-value-adding parts of value chains into China, and to build hi-tech industries in which it can establish a globally competitive position. China has successfully done this in areas like high-speed trains (CRRC), digital telecoms networks (Huawei), drones (DJI) and hi-tech batteries (BYD). Trump’s team is not wrong to be worried about China’s competitive emergence here, and to target these new-tech sectors in the latest trade war sortie. But here’s the problem: China exports almost none of these new-tech products to the US, making US tariff threats meaningless. Rather, they go to developing economy markets – many embraced by the Belt and Road initiative – where China has succeeded in building a hi-tech, high-value brand reputation. As Trump’s team will quickly learn, the challenge of finding China’s pain points is bigger than expected: for a decade China’s priority has been to base growth on the domestic consumer economy and reduce reliance on the low-value-adding export processing industries (many of which are US- or Hong Kong-owned and concentrated in the Pearl River Delta) SCMP
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  3.  @sijugeo1973 that’s the wrong question to ask when western countries block Chinese FDI into their countries citing national security risk They barely tolerate Chinese buying or partnering with a western corporation Let alone allow them to operate as a stand alone Chinese company
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  4.  @sijugeo1973  China is an authoritarian country. That why the USA is fighting a trade war with China to get them to open up more of their economy You are being told to believe one thing when our elite 1%ters know another thing In the end it does not change the fact China was ahead on those robo taxis with paying customers for years now Tesla is just going to piggy back off that in China As China gives a life line and saves Tesla once again 👇 Project Syndicate The value of global China China faces important questions about whether and to what extent it should continue to pursue opening up its economy to the rest of the world, write Jonathan Woetzel and Jeongmin Seong in Project Syndicate. In any case, China and the world face important questions about the trajectory of their mutual engagement. At stake, according to our simulation, may be some $22-37 trillion in economic value – or 15-26% of world GDP – by 2040. McKinsey
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  5.  @sijugeo1973  even these last few years as China has invested a few trillion (hidden loans included) in their belt and road partner countries China exports are up 7.1% for the first few months of 2024 And it still averages about 820 billion plus dollar a year trade surplus with the world the last 2 years Even though their Central Government is cracking down in real estate speculation Slowing down the economy? The Chinese people still added 2.6 trillion to their savings in 2022 And 1.8 trillion to their savings for first 10 months of 2023 (increase of 8.5% But with no other viable investment options left these days The Chinese Government is actually pushing their people away from investing in real estate, and to invest in technology/industries instead This is where China leads the world in 37 of the 44 critical technologies of the future already As they will pile even more money into these future technologies My prediction is the Chinese Government will have to step in and regulate yet another overheated sector (technology) in the future Where Blinken,Yellen & their successors will have to keep going to China to beg them not to dump their cheap high tech onto the rest of world Most people have no clue what’s coming, as they supercharge their exports with their new innovative high tech products Musk saw the writing on the wall if he can partner and get his hands on Chinese tech he will be able to compete again 👇 Chinese Consumers Are Saving Rather Than Spending Amid Economic Downturn Dec 21, 2023 — Chinese households have added 13.8 trillion yuan ($1.89 trillion) The middle class is also prioritizing savings and seeking safe investment opportunities, according to the report. Chinese households have added 13.8 trillion yuan ($1.89 trillion) in savings in the first 10 months of the year, an 8.5% increase from the previous year. Pymnts
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  6.  @sijugeo1973  Plus not sure why you are complaining anyways, American politicians and regular public want to decouple from China these days As Americans like you are acting like the suddenly wo ah oak snow fla aches tou dis like so much yourself Back in the late 1980s I was warning about Free Trade and the push for Globalization Especially when it came to the rise of CCP China. This was before their GDP was even a blip on the radar yet was getting laughed at and called a CCP 50 cent army poster. Communist Traitor, against Capitalism and worse names That’s because Conservatives minded folks back then, were pushing for Globalization and Free Trade Going back as far as 1972 when Nixon went to China to get them to open up? It was just 10 years after the Great Leap Forward And right smack dab in the middle of the Cultural Revolution where 10s upon 10s of millions in that country met their demise Yet we spent the last 50 years buying the gadgets made off of 100s upon 100s and 100s of millions of migrant workers Paid slave like dollar a day wages We couldn’t compete against them when they were 88% in abject poverty in the 1980s We definitely can’t compete against them as the take the technological lead Sure you Americans may have lost 7 million manufacturing jobs from the height of their manufacturing days. But you gained 53 million service sector jobs 33 million of them higher paying jobs than those manufacturing jobs So with more jobs…. more higher paying jobs…. and added saving from imported goods raising your standards of living did the average American Invest,save, or even think to throw that money under the mattress? No they spent those added earnings and the borrowed to spend some more and borrowed even more to spend some more Now you blame anyone else but yourselves If only China was wide open🙄🙄🙄 👇 Remarks at a White House Meeting With Business and Trade Leaders September 23, 1985 Thank you very much, and welcome to the White House. I'm pleased to have this opportunity to be with you to address the pressing question of America's trade challenge for the eighties and beyond. And let me say at the outset that our trade policy rests firmly on the foundation of free and open markets -- free trade. I, like you, recognize the inescapable conclusion that all of history has taught: The freer the flow of world trade, the stronger the tides for human progress and peace among nations. Reagan liberal
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