Comments by "D W" (@DW-op7ly) on "Inside China Business"
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@MrNickjberry
The Chinese had “virtually” no chip making ability/foundries 6 years ago
thanks to the USA who did the job for the Chinese
Where their Government was trying to get their people to switch to homegrown chips before the sanctions
China is now expected to take over those legacy chip markets
If the USA was smarter instead of cutting off China from semiconductor chips and equipment for manufacturing
They should have themselves and their allies, lowered prices even more, and dump even more chips on China
Instead their idea was to force the hand of Chinese people at the time content with cheap imported chips.
Hope they could not innovate
When there is now a 7 volume 27 book series on what China invented first that says the world copied from them
And China leads the world in 37 of the 44 critical technologies of the future 🙄
At one point China was importing over 300 billion in chips a year
Now they will probably be exporting around 200 billion dollars worth of their own homegrown chips per year, within the products they export
👇
How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products.
In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants.
Many of these will concentrate on the production of legacy devices.
As for market share, industry intelligence gatherers
Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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European Economic Review
Volume 144, May 2022, 104079
Asian American Discrimination in Harvard Admissions
Among typical applicants, Asian Americans actually have a slightly higher unconditional admit rate than whites. But as we show in Section 3, these unconditional admit rates mask substantial differences in qualifications between the two groups.
While it is widely understood that Asian American applicants are academically stronger than whites, it is startling just how much stronger they are. During the period we analyze, there were 42% more white applicants than Asian American applicants overall.
Yet, among those who were in the top ten percent of applicants based on grades and test scores, Asian American applicants outnumbered white applicants by more than 45%.2
Of course, Harvard values more than just academics. And here, too, Asian American applicants as a whole perform as well or better than white applicants on most of Harvard’s ratings.
But Harvard’s ratings may also be affected by racial preferences and penalties. Indeed, Harvard acknowledges that race, in the form of preferences for under-represented minority groups (URMs), is one of the inputs into the overall rating (Day 4 Trial Transcript, p. 50).3
Consistent with this, we find large racial gaps in the assignment of the overall rating conditional on academic strength. Similar patterns hold for the personal rating, suggesting that this measure is also directly influenced by race.
Further, we show that racial groups who have observed characteristics associated with lower overall and personal ratings score higher on these ratings, again suggesting a direct role of race
Science Direct
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another way to look at it China has managed to make a homegrown Lithography machine albeit one that creates legacy type/level 28nm chips
Where they are using their proprietary layering/patterning technique to get down to that 7nm/5nm
So yes one could argue they are behind from a sanctioning standpoint But from an all out war standpoint where a Country has been cut off from inputs from other countries?
I look at it as a China is ahead Because really that is the worst case scenario the USA/West is envisioning.
As that being the reason they have sanctioned/cut off China right now
That’s the biased criteria we put on China they need to be making that 100% homemade semiconductor chip From that 100% homemade lithography machine right down to the screws and Rare Earths required to make the lithography machines in the first place
Where the Dutch company ASML sources 85% of what goes into making their lithography machines from around the world. As ASML cuts off China from its technology/patents
But then no one thought to go back even farther. Forgetting about the fact 85% of the components are sourced from other places/countries
They should have been asking what goes into making those components or the patents on what goes into that component in the first place?
👇
Applications in Semiconductor Manufacturing
Lasers and Lithography
Lasers are indispensable in semiconductor manufacturing, especially in advanced lithography. REEs like neodymium are used in Nd:YAG lasers, which are critical for UV light generation in lithography processes.
Laser Cleaning
As semiconductor components shrink, traditional cleaning methods become less effective. Lasers, particularly those using REEs, offer a solution by dislodging particles adhered to wafers through Van Der Waal forces.
Magnets and Plasma Material Processing
Permanent magnets, often made from REEs like neodymium, are used in plasma material processing systems. These systems are essential for thin film growth and patterning.
Coatings and Abrasives
REEs like yttrium oxide are used for coatings in plasma etch chambers, reducing maintenance costs. Cerium dioxide abrasives are used in the Chemical Mechanical Polishing (CMP) process to achieve extremely flat wafer surfaces.
The Impact on Adjacent Technologies
Optoelectronics and LEDs
REEs like cerium and yttrium are vital for the production of white LEDs. These LEDs are increasingly used in various applications, from displays to therapeutics.
Silicon Photonics
In the emerging field of silicon photonics, REEs like erbium are being studied for their potential to enable silicon to emit light, thus making monolithic silicon photonics chips a possibility.
Amr Elgarony
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@AdrianCHOY
Civilization state versus nation-state
15/01/11 - Süddeutsche Zeitung
China confronts Europe with an enormous problem: we do not understand it
Our western-centric value-judgements about China must no longer be allowed to act as a substitute for understanding the country in its own terms. This is no easy task. China is profoundly different from the West in the most basic of ways. Perhaps the most basic difference is that it is not a nation-state in the European sense of the term. Indeed, it has only described itself as such since around 1900. Anyone who knows anything about China is aware that it is a lot older than that. China, as we know it today, dates back to 221BC, in some respects much earlier. That date marked the end of the Warring States period, the victory of the Qin, and the birth of the Qin Empire whose borders embraced a considerable slice of what is today the eastern half of China and by far its most populous part.
For over two millennia, the Chinese thought of themselves as a civilization rather than a nation. The most fundamental defining features of China today, and which give the Chinese their sense of identity, emanate not from the last century when China has called itself a nation-state but from the previous two millennia when it can be best described as a civilization-state: the relationship between the state and society, a very distinctive notion of the family, ancestral worship, Confucian values, the network of personal relationships that we call guanxi, Chinese food and the traditions that surround it, and, of course, the Chinese language with its unusual relationship between the written and spoken form. The implications are profound: whereas national identity in Europe is overwhelmingly a product of the era of the nation-state – in the United States almost exclusively so – in China, on the contrary, the sense of identity has primarily been shaped by the country’s history as a civilization-state. Although China describes itself today as a nation-state, it remains essentially a civilization-state in terms of history, culture, identity and ways of thinking. China’s geological structure is that of a civilization-state; the nation-state accounts for little more than the top soil.
China, as a civilization-state, has two main characteristics. Firstly, there is its exceptional longevity, dating back to even before the break-up of the Roman Empire. Secondly, the sheer scale of China – both geographic and demographic – means that it embraces a huge diversity. Contrary to the Western belief that China is highly centralised, in fact in many respects the opposite is the case: indeed, it would have been impossible to govern the country – either now or in the dynastic period – on such a basis. It is simply too large. The implications in terms of the way the Chinese think are profound.
In 1997 Hong Kong was handed over to China by the British. The Chinese constitutional proposal was summed up in the phrase: ‘one country, two systems’. Barely anyone in the West gave this maxim much thought or indeed credence; the assumption was that Hong Kong would soon become like the rest of China. This was entirely wrong. The political and legal structure of Hong Kong remains as different now from the rest of China as in 1997. The reason we did not take the Chinese seriously is that the West is characterised by a nation-state mentality, hence when Germany was unified in 1990 it was done solely and exclusively on the basis of the Federal Republic; the DDR in effect disappeared. ‘One nation-state, one system’ is the nation-state way of thinking. But, as a civilization-state, the Chinese logic is quite different. Because China is so vast and embraces such diversity, as a matter of necessity it must be flexible: ‘one civilization, many systems’.
The idea of China as a civilization-state is a fundamental building block for understanding China in its own terms. And it has multifarious implications. The relationship between the state and society in China is very different to that in the West. Contrary to the overwhelming Western assumption that the Chinese state lacks legitimacy and is bereft of public support, in fact the Chinese state enjoys greater legitimacy than any Western state. We have come to assume that the legitimacy of the state overwhelmingly rests on the democratic process – universal suffrage, competing parties et al. But this is only one element: if it was the whole story, then the Italian state would enjoy a robust legitimacy rather than the reality, a chronic lack of it. And to explain this we have to go back to the Risorgimento as only a partially fulfilled project.
The reason why the Chinese state enjoys a formidable legitimacy in the eyes of the Chinese has nothing to do with democracy but can be found in the relationship between the state and Chinese civilization. The state is seen as the embodiment, guardian and defender of Chinese civilization. Maintaining the unity, cohesion and integrity of Chinese civilization – of the civilization-state – is perceived as the highest political priority and is seen as the sacrosanct task of the Chinese state. Unlike in the West, where the state is viewed with varying degrees of suspicion, even hostility, and is regarded, as a consequence, as an outsider, in China the state is seen as an intimate, as part of the family, indeed as the head of the family; interestingly, in this context, the Chinese term for nation-state is ‘nation-family’.
Or consider a quite different example. Over 90 per cent of Chinese think of themselves as of one race, the Han. This is so different from the world’s other most populous nations – India, United States, Indonesia and Brazil, all of which are highly multi-racial – as to be extraordinary. Of course, in reality the Han were a product of many different races, but the Han do not think of themselves like that. And the reason takes us back to the civilization-state and one of its defining characteristics, namely China’s remarkable longevity. Over thousands of years, as a result of many processes, cultural, racial and ethnic, the differences between the many races that comprised the Han have been weakened to the point where they were no longer significant.
We will never make sense of China if we persist in treating it as if it is, or should be, a product of our own civilization. Our present attitude towards China is a function of arrogance and ignorance. And it threatens to leave us bewildered, confused and alienated. Our historical inheritance, and the mentality it has engendered, ill equips us for the very new world that is presently unfolding before us.
Martin Jacques
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You are clueless and trying to make excuses…
👇
China beating West in race for critical technologies, report says
China leads the world in 37 out of 44 critical technologies, according to a report by an Australian think tank.
China is in a position to become the world’s top technology superpower, with its dominance already spanning defence, space, robotics, energy, the environment, biotechnology, artificial intelligence (AI), advanced materials and key quantum technology, according to the report by the Australian Strategic Policy Institute (ASPI).
The key areas dominated by China include drones, machine learning, electric batteries, nuclear energy, photovoltaics, quantum sensors and critical minerals extraction, according to the Critical Technology Tracker released on Thursday.
Aljazeera
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@verypleasantguy thanks for your opinion these are the facts
👇
Beyond as bridges: The role of the Chinese voluntary associations in Chinese outward foreign direct investment in Southeast Asia
Conclusion
This study focuses on the key research question of how CVAs organised and promoted by ethnic Chinese in host countries play a role in Chinese MNEs' OFDI in Southeast Asia. We address this question by adopting qualitative and comparative approaches to analyse the intermediary role of ethnic Chinese and CVAs involved in the OFDI process of Chinese MNEs and how their actions and interactions influence MNEs' local embeddedness.
First, from the perspective of ‘global–local’ interactions, we analyse the role of CVAs in promoting the globalisation and localisation of Chinese MNEs. On the one hand, Chinese MNEs can effectively obtain global resources and information through the global contact network formed by institutionalised links between CVAs and their close communications and interactions, such as the periodic global/regional association conferences. On the other hand, Chinese MNEs can successfully realise local embeddedness through CVAs' bidirectional facilitative capacity formed by their long-term cultivation in the locality. The essential role of CVAs serving as a ‘bridge’ that connects the host country and China has been emphasised, which promotes mutual understanding and Chinese MNEs' local embeddedness. Second, considering the different types of CVAs, we unravel their different roles in promoting/hindering Chinese MNEs' OFDI. Comparatively speaking, the government-cooperative/sponsored CVAs and the privately-organised CVAs have their own advantages and disadvantages in shaping Chinese OFDI, while the ‘new’ CVAs generally play a more significant role in the process of Chinese MNEs' OFDI.
This paper has demonstrated how Chinese MNEs' OFDI can achieve a ‘win-win’ outcome through interaction with CVAs and ethnic Chinese by focusing on cooperation cases. Moreover, we highlight how recent changes in the leadership, economic orientation, and activities of CVAs point towards a trend of closer ties with China (Liu, 2023).
onlinelibrarywiley
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Why would you think the Chinese are looking to be trading in Gold?
they are buying Gold not to trade… but to stockpile at this point in time
Instead of buying US Sovereign Debt
👇
China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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China has an 820 billion dollar trade surplus with the world the vast majority of that would be in USDs
I think they are doing just fine with limiting their dollar/debt exposure
👇
China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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Btw
What most people like you don’t get?
Is it is mostly 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 in their Chinese factories, 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 of their goods and services into those 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?
For one, it would crash the US Economy
And the Chinese 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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China will be doing it all…
👇
How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products.
In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants.
Many of these will concentrate on the production of legacy devices.
As for market share, industry intelligence gatherers
Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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@eugenechin2863
if it was happening to the Chinese instead, of the Americans
I would say the same thing
You can complain…. but that won’t change a thing because bottom line is, you can’t compete
But then we already know that wouldn’t happen the East Asian mindset they might complain but then in the end they would try harder, work harder
The Western mindset/American mindset is to complain then give up when they are losing
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
* Meanwhile, other researchers are studying the subjective nature of self-assessment from other angles. For example, Steven Heine, PhD, a psychologist at the University of British Columbia, is showing that self-inflation tends to be more of a Western than a universal phenomenon.
* In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
* First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
* Heine adds. If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it. East Asians, though, view a poor performance as an invitation to try harder.
APA
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@100c0c
that’s the difference
The USA thinks in zero-sum game ways. The Chinese do not
during US/China trade war. While the USA put tariffs on even us here in Canada calling Canada a national security threat
the Chinese were lowering their tariffs to most other countries
Infact if the Chinese brought out their real trade wea pons with the USA
Just stopped exporting?
we in the west would have been dropping like flies
without the Alzheimer’s, Diabetes, Cancer, Heart Disease drugs and more etc etc etc
That’s because they supply us with the essential ingredients that go into the Worlds Pharmaceutical drugs
👇
U.S. officials worried about Chinese control of American drug supply
"Basically we've outsourced our entire industry to China," retired Brig. Gen. John Adams told NBC News. "That is a strategic vulnerability."
If China shut the door on exports of medicines and their key ingredients and raw material, U.S. hospitals and military hospitals and clinics would cease to function within months, if not days," said Rosemary Gibson, author of a book on the subject, "China Rx."
NBCNews
👇
China's lock on drugs
Two pillars of Trump administration policy – combating the soaring prices for prescription drugs and equalizing the U.S. trade imbalance with China – appear to be on a collision course, drug and foreign policy experts say.
That's because the key ingredients for so many essential drugs, from antibiotics and birth control pills to treatments for cancer, depression, high cholesterol and HIV/AIDS, are purchased from China, says Rosemary Gibson, co-author with Janardan Prasad Singh of a new book called "ChinaRx: Exposing the Risks of America's Dependence on China for Medicine."
CNBC
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What most people like you don’t get?
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 in their Chinese factories, 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 of their goods and services into those 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?
For one, it would crash the US Economy
And the Chinese 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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And even though these last few years China has been investing a few trillion (hidden loans included) in their belt and road partner countries
👇
China starts zero-tariff treatment for 6 least-developed African countries
Positive move to continue bolstering bilateral trade, show demonstration effect
By GT staff reporters Published: Dec 25, 2023 09:45 PM
The zero-tariff treatment China had granted for six least-developed African countries officially took effect on Monday. Experts and industry players noted that the move will bolster trade between China and Africa while showing a demonstration effect for China's cooperation with other markets. The Customs Tariff Commission of the State Council, China's cabinet, announced on December 6 that 98 percent of taxable products from Angola, The Gambia, the Democratic Republic of the Congo (DRC), Madagascar, Mali and Mauritania would be exempt from import tariffs starting on Monday. Sarah Wang, executive director of Beijing Wise Century Trading Co, which sells a range of African products, told the Global Times on Monday that such measures will have a huge implication for trade between these countries and China.
"With zero tariffs, these countries could expand the sales channels for their local produce, find new ways to generate foreign exchange reserves and create jobs," Wang said.
The implementation of the tax break is a significant move contributing to fulfilling the China-Africa comprehensive strategic and cooperative partnership, and realize its responsibility under the WTO-led Aid for Trade Initiative, Song Wei, a professor at Beijing Foreign Studies University, told the Global Times on Monday.
GT
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India has a younger workforce, a larger workforce, and lower wages. But a 100 billion a year trade deficit with China
China is investing heavily into clean, green, renewable
And the best we can do is complain overcapacity
Meaning our western Governments will do nothing. As this generations Sputnik moment
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JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF.
The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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@Dollarrmb-pk6ub
not if they wipeout the competition
It’s going to be an Automated / A.I. future like it or not
Question you should be asking us will our countries be willing to give a basic income
Some Asian guy in your country advocated for it…Barely anyone voted for him, thought he was nuts
They transfer money assets and State owned corporations themselves …into their National Pension Plan
We give tax breaks to private sector owned corporations who hide their money offshore in tax havens they have incorporated in
👇
Through a central coordination mechanism, over 930 billion yuan ($147.58 billion) from the national pool went to make up for the shortfalls of local pension schemes last year alone.
China's basic old-age insurance, a key program to ensure people's well-being after retirement, has been evolving to a larger-scale management system since its establishment in the 1990s. The central coordination mechanism was set up in 2018 as the first step prior to building a national system to further address unbalanced pension burdens nationwide.
But issues deriving from disparities in regional economic development and demographic structure still exist.
"Some regions have more surpluses, while the others with older populations are under heavier pressure to make pension payments," said Qi Tao, an official from the Ministry of Human Resources and Social Security.
In 2021, over 210 billion yuan from the coordination mechanism went to the central and western regions as well as the northeastern "rust belt" provinces, as a greying population weighs on their pension payments and growing labor outflows squeeze pension income.
Using a nationwide chessboard as a metaphor, the head of the China Association of Social Security Zheng Gongcheng said the new national system will make the pension benefits fairer. "People won't need to sacrifice their pensions for migrating to work, and retirees won't have to deal with the risks from local pension fund shortfalls."
Qi said a mechanism that assigns the respective expenditure responsibilities of central and local governments on pension funds will be built after the national program comes into force and the central government will not roll back its subsidy to the pension funds.
Apart from the coordination efforts and central subsidy, state assets totaling 1.68 trillion yuan from 93 centrally-administered enterprises and financial institutions have also been transferred to replenish the pension schemes.
GOV . CN
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China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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@verypleasantguy
Malaysia summons Chinese ambassador to clarify statement made during visit to KL's Chinatown
PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Malaysia's Foreign Affairs Ministry, Wisma Putra, is calling on Chinese ambassador to Malaysia Huang Huikang to seek his clarification on the statement he made during a visit to Petaling Street in Kuala Lumpur last Friday (Sept 25).
The meeting, according to a press statement from the ministry, will be held at Wisma Putra in Putrajaya on Monday.
"During the visit, he was interviewed by the media and subsequent media statements resulting from that interview has attracted attention and caused concern to the Malaysian public," said Wisma Putra.
The Ministry hopes that this meeting will help clear the matter."
It is understood the Prime Minister's Office has been informed of the summon.
Last Friday, Dr Huang was quoted as saying that China was against those who resort to violence to disrupt public order, an obvious reference to the threat by a group to hold a demonstration in Petaling Street, known as KL's Chinatown
The Chinese government opposes terrorism and any form of discrimination against races and any form of extremism," he told reporters.
Dr Huang also warned that Beijing would not fear voicing out against incidents, which threaten the interests of the country, infringe upon the rights of its citizens in doing business, or disrupt the relationship between Malaysia and China.
TheStraightTimes
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@tonysu8860
another way to look at it China has managed to make a homegrown Lithography machine albeit one that creates legacy type/level 28nm chips
Where they are using their proprietary layering/patterning technique to get down to that 7nm/5nm
So yes one could argue they are behind from a sanctioning standpoint
But from an all out war standpoint where a Country has been cut off from inputs from other countries?
I look at it as a China is ahead Because really that is the worst case scenario the USA/West is envisioning.
As that being the reason they have sanctioned/cut off China right now
That’s the biased criteria we put on China making that 100% homemade chip right down to the screws and Rare Earths required to make the lithography machines in the first place
Where ASML sources 85% of what goes into making their lithography machines from around the world
👇
Circumventing the Chokepoint: Can the US Produce More Rare Earths?
Oct 30, 2023
* Rare earths—which include the fifteen lanthanide series elements plus scandium and yttrium—are critical not only to energy technology like permanent magnets in electric vehicles and offshore wind turbines but also to military applications like lasers and precision-guided weapons. These elements enable defense equipment and weapons system components to function.
From 1950 to October 2018, China filed 25,911 rare earth patents, while the United States filed only 9,810. Thus, China can also restrict rare earth technology. In April 2023, for instance, Nikkei Asia reported that China was considering restricting exports of rare earth magnet technology
New Security Beat
👇
Applications in Semiconductor Manufacturing
Lasers and Lithography
Lasers are indispensable in semiconductor manufacturing, especially in advanced lithography. REEs like neodymium are used in Nd:YAG lasers, which are critical for UV light generation in lithography processes.
Laser Cleaning
As semiconductor components shrink, traditional cleaning methods become less effective. Lasers, particularly those using REEs, offer a solution by dislodging particles adhered to wafers through Van Der Waal forces.
Magnets and Plasma Material Processing
Permanent magnets, often made from REEs like neodymium, are used in plasma material processing systems. These systems are essential for thin film growth and patterning.
Coatings and Abrasives
REEs like yttrium oxide are used for coatings in plasma etch chambers, reducing maintenance costs. Cerium dioxide abrasives are used in the Chemical Mechanical Polishing (CMP) process to achieve extremely flat wafer surfaces.
The Impact on Adjacent Technologies
Optoelectronics and LEDs
REEs like cerium and yttrium are vital for the production of white LEDs. These LEDs are increasingly used in various applications, from displays to therapeutics.
Silicon Photonics
In the emerging field of silicon photonics, REEs like erbium are being studied for their potential to enable silicon to emit light, thus making monolithic silicon photonics chips a possibility.
Amr Elgarony
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@Antyardie
And this
👇
* In the latest experiment, researchers pumped in 2.05 megajoules of laser energy and got about 3.15MJ out – a roughly 50% gain and a sign that fusion reactions in the pellet were driving further fusion reactions. “The energy production took less time than it takes light to travel one inch,” said Dr Marvin Adams, at the NNSA.
Immense hurdles remain, however, in the quest for fusion power plants. While the pellet released more energy than the lasers put in, the calculation does not include the 300 or so megajoules needed to power up the lasers in the first place. The NIF lasers fire about once a day, but a power plant would need to heat targets 10 times per second. Then there is the cost of the targets. The ones used in the US experiment cost tens of thousands of dollars, but for a viable power plant, they would need to cost pence. Another issue is how to get the energy out as heat.
Dr Kim Budil, the director of the Lawrence Livermore National Laboratory, said with enough investment, a “few decades of research could put us in a position to build a power plant”. A power plant based on alternative technology used at the Joint European Torus (JET) in Oxfordshire could be ready sooner, she added
THEGUARDIAN
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The 2nd Automotive Winter Testing Festival held in Heihe, Heilongjiang Province
NEWS PROVIDED BY
Publicity Department of the CPC Heihe Municipal Committee
Jan 09, 2023, 02:33 ET
* Themed "passion, speed, and vitality", the Winter Testing Festival joined hands with the China Mass Production Car Performance Challenge (hereinafter referred to as CCPC), attracting more than 10 teams and nearly 30 brands, according to the Publicity Department of the CPC Heihe Municipal Committee
The festival will promote the test season through a variety of activities, integrating test, racing and sales for the deep integration and development of China'sautomotive industry.
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@antonyjh1234 the last 2 years China has put us to shame
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF. The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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@antonyjh1234 did you even read the articles I posted?
They are going toward a green,clean renewable future
Not because they are suddenly environmentalists
But because there is money to be made in it
the mistake we westerners make?
Is we expect the Chinese to think like us.
So whatever they are trying to do? If there is a setback, problem, issue etc etc etc
We expect the Chinese to give up what they are trying to do, because that is how we think
That’s what we do
Instead it’s everyone wins everyone gets a participation ribbon mindset….
No one fails
When I say it will take time?
That is failure for the average westerner and time to give up
Because it's about instant gratification these days or else nothing at all
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@antonyjh1234
How China Became the World’s Leader on Renewable Energy
China has achieved stunning growth in its installed renewable capacity over the last two decades, far outpacing the rest of the world. But to end its continued dependence on fossil fuels, it must now move ahead with planned reforms to its national electricity system.
BY ISABEL HILTON
MARCH 13, 2024
In 2020, for example, China pledged to reach 1,200 gigawatts of renewables capacity by 2030, more than double its capacity at that time. At its present pace, it will meet that target by 2025, and could boast as much as 1,000 gigawatts of solar power alone by the end of 2026, an achievement that would make a substantial contribution to the 11,000 gigawatts of installed renewable capacity that the world needs to meet the 2030 targets of the Paris Agreement. Fossil fuels now make up less than half of China’s total installed generation capacity, a dramatic reduction from a decade ago when fossil fuels accounted for two-thirds of its power capacity
When the International Energy Authority issued its assessment of the pledge to triple renewables globally by 2030, it pointed out that the 50 percent increase in global renewable installations in 2023 was largely driven by China. In 2022, China installed roughly as much solar photovoltaic capacity as the rest of the world combined, then went on in 2023 to double new solar installations, increase new wind capacity by 66 percent, and almost quadruple additions of energy storage.
Yale EDU
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China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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China almost certainly owns more gold than the US – here’s why that matters
China almost certainly owns a lot more gold than anyone else – including the USA. But how much? And why does it need so much gold? Dominic Frisby explains.
BY DOMINIC FRISBY
LAST UPDATED 3 MARCH 2022
* There are two parts to this argument. First, China’s gold mining. In 2007, China overtook South Africa as the world’s largest gold producer. It has remained so ever since. This past decade it has produced about 15% of all the gold mined in the world.
* Second, there is the fact that, as well as being the biggest producer, China is the world’s biggest importer. Gold imports via Switzerland and Dubai are not always declared, but we do know that via Hong Kong alone, over 6,700 tonnes have entered the country since 2000.
Add that to cumulative gold production since 2000, and you get a figure over 13,500 tonnes.
MoneyWeek
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China has an 820 billion dollar trade surplus with the world every year
Holding that much debt is the right amount in my opinion
The US FED crashed their credit markets selling about 600 to 700 billion in debt off its balance sheet over a 2 year period
Plus China has been doing this for over a decade we are just catching on right now
👇
China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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@davidgmaloof
Seriously, stop posting you are an embarrassing
👇
Chinese UAVs ‘Outperform’ US Drones In Ukraine War; WSJ Report Calls US-Made UAVs Fragile & Ineffective
April 10, 2024
According to WSJ, most small unmanned aerial vehicles (UAVs) developed by American firms have struggled to perform in combat scenarios.
This development blows the hopes of these companies, who anticipated that combat testing would bolster sales and attention for their products.
Moreover, it poses challenges for the Pentagon, which requires a reliable supply of thousands of small drones for various purposes. Sources cited in the report, including drone company executives, Ukrainian frontline personnel, government officials, and former US military officials, outline several key issues plaguing US-made drones.
These include exorbitant costs, technical faults, and complex repair processes. In particular, Ukrainian officials have found US-made drones to be fragile and ineffective against Russian jamming and GPS blackout technology.
Instances have been reported where these drones failed to take off, complete missions, or return safely. Moreover, they often fall short of advertised flight distances and payload capacities.
Eurasiatimesnews
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@davidgmaloof
When Chinese retail l/toy store drones outperform US military grade drones…
You have nothing to be proud of
How much do you get paid per hour to blow sunshine up a clients azzzzzzzz
I want a job like that where I have no shame
👇
American drones are glitching and getting lost in Ukraine, giving way to a flood of Chinese drones
Chris Panella Apr 10, 2024, 3:44 PM ET
American-made drones haven't excelled on the battlefield, prompting Ukraine to turn to buying Chinese-made drones.
* The problems with many US-made drones, particularly some of the smaller ones, are that they often don't function as advertised or planned and easily glitch when targeted by Russian jamming, sources told The Wall Street Journal.
They are fragile and vulnerable to electronic warfare. For some of the systems that were sent to Ukraine, issues included not taking off, getting lost and not returning home, or simply failing to meet mission expectations.
* US drones are also typically far more expensive than comparable models. And at the rate Ukraine is burning through them, it wouldn't be feasible. Instead, Ukraine is turning to systems made by Chinese companies for cheaper and often more reliable alternatives.
Chinese DJI drones have long played a role in the war, with Ukraine buying many of the retail models. Ukrainian forces sometimes strap bombs directly on them for a makeshift one-way attack drone or use them to drop grenades.
BI
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@randomaccount598
A few things we learned since the 2008 subprime crisis
Buying for US external Sovereign debt is not unlimited.
In 2011 the US FED had to buy 71% of the newly issued debt by the US Treasury
That QE debt that was soaped up/printing of money, that debt does not disappear
Since we know from Q3 of 2017 to Q3 of 2019 the FEDs bright idea was to allow up to 50 to 60 billion of the Agency Debt and US Treasury Debt it soaped up during QE
to slowly mature each month, off the FEDs balance sheet. Where the US Treasury would issue new corresponding debt for the public to buy.
It ended during Q3 of 2019 Because that selling of debt helped in freezing up the repo market
Just like when it happened in 2008/2009 during the subprime crisis
Thus the FED balance sheet went from 4.5 trillion to about 3.8 trillion… with that selling from 2017 to 2019
But then the FED had to come back in do a QE 2.0 and buy back that Treasury debt it dumped and more
Last I checked they ran that FED balance sheeet to 8.9 trillion. But are closer to 8 trillion now
👇
No Surprise, Fed Was Biggest Buyer of Treasuries in 2013 THE Federal Reserve financed most of the government’s deficit in 2013, in sharp contrast to the year before, when the Fed did not add to its holdings of Treasury securities. The American private sector appears to have been a net seller of Treasuries in 2013, but the foreign private sector was a substantial buyer, according to government estimates released this week. In 2013, the government issued a net $759 billion in Treasury securities to the public. That was the lowest figure in six years, as the budget deficit declined because of a healthier economy, which increased tax receipts, and to government austerity that cut spending. The Fed bought a net $543 billion of Treasuries during 2013. That was not a record amount — in 2011 it had purchased $656 billion — but it enabled the Fed to finance 71 percent of the net Treasury borrowing during the year.
NYT
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More like well over 2 trillion closer to the 3 trillion others have posted about in this thread
👇
How Much Money Does the World Owe China?
Our research, based on a comprehensive new data set, shows that China has extended many more loans to developing countries than previously known. This systematic underreporting of Chinese loans has created a “hidden debt” problem – meaning that debtor countries and international institutions alike have an incomplete picture on how much countries around the world owe to China and under which conditions.
In total, the Chinese state and its subsidiaries have lent about $1.5 trillion in direct loans and trade credits to more than 150 countries around the globe. This has turned China into the world’s largest official creditor — surpassing traditional, official lenders such as the World Bank, the IMF, or all OECD creditor governments combined.
Despite the large size of China’s overseas lending boom, no official data exists on the resulting debt flows and stocks. China does not report on its international lending, and Chinese loans literally fall through the cracks of traditional data-gathering institutions. For example, credit rating agencies, such as Moody’s or Standard & Poor’s, or data providers, such as Bloomberg, focus on private creditors, but China’s lending is state sponsored, and therefore off their radar screen. Debtor countries themselves often do not collect data on debt owed by state-owned companies, which are the main recipients of Chinese loans. In addition, China is not a member of the Paris Club (an informal group of creditor nations) or the OECD, both of which collect data on lending by official creditors.
HarvardBusinessReview
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Great find with all your stats… allow me to fact check and use some of these stats in the future…
Also it’s not just container ports within China it’s the container ports around the world as well
👇
How China rules the waves
FT investigation: Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power
JANUARY 12 2017
In terms of container ports, China already rules the waves. Nearly two-thirds of the world’s top 50 had some degree of Chinese investment by 2015, up from about one-fifth in 2010, according to FT research.
FT
👇
How China Uses Shipping for Surveillance and Control
Beijing’s global maritime operations double as intelligence-gathering outposts.
Of the world’s 75 leading container ports outside the Chinese mainland, almost halfhave at least partial Chinese ownership or operations (with operations more significant, since they allow China to control access to terminals, supplies, dry docks, and storage). More than half of China’s overseas maritime assets sit on major shipping lanes passing through the Indian Ocean (the Port of Hambantota, Sri Lanka), the Red Sea (the Port of Djibouti), the Suez Canal (the Port of Sokhna, Egypt, and the Suez Canal Economic Zone), the Mediterranean Sea (the Port of Haifa, Israel, and Piraeus, Greece), and other waters.
FP
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Not uincluding the USA China has close to a 600 billion dollar trade surplus with the rest of the world
What most people don’t get?
Is it is most 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
XD 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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the Chinese don’t believe in zero-sum game type of thinking
They viewed the Americans as partners, probably still view them as partners they can work with in the future
Kind of like waiting for Meloni going to China to reset recently
But at this time they have to view the USA as an unreliable partner. But one who might reset relations in the future
👇
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
The purge of YMTC's supply chain has been handled with the spirit of a national emergency. Based in the city of Wuhan, the effort did not pause even when the virus epicenter was ravaged by COVID-19 last spring.
While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019. All the while, delivery trucks for critical chipmaking materials drove to and from the production campus.
Nikkei Asia
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@papiso2008
Try this one out
👇
Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
What’s to stop the chip-making giant from shoveling taxpayer grants into more stock buybacks?
LES LEOPOLD
Mar 27, 2024
Common Dreams
Intel, the largest chip maker in America, with 2023 revenues of $54 billion, has just been awarded an $8.5 billion grant from the federal CHIPS and Science Act, plus $11 billion in favorable loans.
In addition to badly needed microchips, Intel produces totally useless stock buybacks. On its website the company proudly proclaims to have spent $152 billion on stock buybacks since 1990. That’s not a typo: $152,000,000,000. Which is why I call it "Stock Buybacks Я Us."
Intel took $152 billion of its revenues, some portion of which could have been used for R&D and building new microchip facilities in the U.S. as well as paying workers more, and instead funneled it to its largest Wall Street stockholders and corporate executives, enriching the top fraction of the top one percent.
CommonDreams
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@lucadellasciucca967
You have no understanding of the Chinese people
My guess is you are a white separatist expat who went to Asia/China of all places to find a wife
Seriously if you are going to be an expat over there then learn about the country
If not for gaaaawds sake, don’t have kids over there… they will be the messed up ones. No thanks to you as the parents
👇
China confronts Europe with an enormous problem: we do not understand it
China confronts Europe with an enormous problem: we do not understand it. Worse, we are not even conscious of the fact. We insist on seeing the world through our Western prism. No other tradition or history or culture can compare. Ours is superior to all and others, in deviating from ours, are diminished as a consequence. This speaks not of our wisdom but our ignorance, an expression not of our cosmopolitanism but our insularity and provincialism. It is a consequence of being in the ascendant for at least two centuries, if not rather longer. Eurocentrism – or perhaps we should say western-centrism – has become our universal yardstick against which, in varying degrees, all others fail.
Our western-centric value-judgements about China must no longer be allowed to act as a substitute for understanding the country in its own terms. This is no easy task. China is profoundly different from the West in the most basic of ways. Perhaps the most basic difference is that it is not a nation-state in the European sense of the term. Indeed, it has only described itself as such since around 1900. Anyone who knows anything about China is aware that it is a lot older than that. China, as we know it today, dates back to 221BC, in some respects much earlier. That date marked the end of the Warring States period, the victory of the Qin, and the birth of the Qin Empire whose borders embraced a considerable slice of what is today the eastern half of China and by far its most populous part.
For over two millennia, the Chinese thought of themselves as a civilization rather than a nation. The most fundamental defining features of China today, and which give the Chinese their sense of identity, emanate not from the last century when China has called itself a nation-state but from the previous two millennia when it can be best described as a civilization-state: the relationship between the state and society, a very distinctive notion of the family, ancestral worship, Confucian values, the network of personal relationships that we call guanxi, Chinese food and the traditions that surround it, and, of course, the Chinese language with its unusual relationship between the written and spoken form. The implications are profound: whereas national identity in Europe is overwhelmingly a product of the era of the nation-state – in the United States almost exclusively so – in China, on the contrary, the sense of identity has primarily been shaped by the country’s history as a civilization-state. Although China describes itself today as a nation-state, it remains essentially a civilization-state in terms of history, culture, identity and ways of thinking. China’s geological structure is that of a civilization-state; the nation-state accounts for little more than the top soil.
China, as a civilization-state, has two main characteristics. Firstly, there is its exceptional longevity, dating back to even before the break-up of the Roman Empire. Secondly, the sheer scale of China – both geographic and demographic – means that it embraces a huge diversity. Contrary to the Western belief that China is highly centralised, in fact in many respects the opposite is the case: indeed, it would have been impossible to govern the country – either now or in the dynastic period – on such a basis. It is simply too large. The implications in terms of the way the Chinese think are profound.
In 1997 Hong Kong was handed over to China by the British. The Chinese constitutional proposal was summed up in the phrase: ‘one country, two systems’. Barely anyone in the West gave this maxim much thought or indeed credence; the assumption was that Hong Kong would soon become like the rest of China. This was entirely wrong. The political and legal structure of Hong Kong remains as different now from the rest of China as in 1997. The reason we did not take the Chinese seriously is that the West is characterised by a nation-state mentality, hence when Germany was unified in 1990 it was done solely and exclusively on the basis of the Federal Republic; the DDR in effect disappeared. ‘One nation-state, one system’ is the nation-state way of thinking. But, as a civilization-state, the Chinese logic is quite different. Because China is so vast and embraces such diversity, as a matter of necessity it must be flexible: ‘one civilization, many systems’.
The idea of China as a civilization-state is a fundamental building block for understanding China in its own terms. And it has multifarious implications. The relationship between the state and society in China is very different to that in the West. Contrary to the overwhelming Western assumption that the Chinese state lacks legitimacy and is bereft of public support, in fact the Chinese state enjoys greater legitimacy than any Western state. We have come to assume that the legitimacy of the state overwhelmingly rests on the democratic process – universal suffrage, competing parties et al. But this is only one element: if it was the whole story, then the Italian state would enjoy a robust legitimacy rather than the reality, a chronic lack of it. And to explain this we have to go back to the Risorgimento as only a partially fulfilled project.
The reason why the Chinese state enjoys a formidable legitimacy in the eyes of the Chinese has nothing to do with democracy but can be found in the relationship between the state and Chinese civilization. The state is seen as the embodiment, guardian and defender of Chinese civilization. Maintaining the unity, cohesion and integrity of Chinese civilization – of the civilization-state – is perceived as the highest political priority and is seen as the sacrosanct task of the Chinese state. Unlike in the West, where the state is viewed with varying degrees of suspicion, even hostility, and is regarded, as a consequence, as an outsider, in China the state is seen as an intimate, as part of the family, indeed as the head of the family; interestingly, in this context, the Chinese term for nation-state is ‘nation-family’.
Martin Jacques
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@FallenLeavesReturnToRoots
What most people don’t get?
Is it is mostly 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 in their Chinese factories, 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 of their goods and services into those 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?
For one, it would crash the US Economy
And the Chinese 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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@TheGreatAmphibian
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
Each supplier is assigned a score for geopolitical risk, identified in many pages of documents detailing the components they use in its machines. YMTC has sent engineers to audit local equipment suppliers' production sites to verify that the origins of parts have been truthfully reported, one of the people told Nikkei.
American-made parts are scored highest for risk, followed by parts bought from Japan, Europe and those made locally, the person said. Meanwhile, suppliers are asked to provide corrective action reports to explain how they can together diversify procurement and find alternatives.
Nikkei Asia
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@TheGreatAmphibian
The Chinese had “virtually” no chip making ability/foundries 6 years ago
thanks to the USA who did the job for the Chinese
Where their Government was trying to get their people to switch to homegrown chips before the sanctions
China is now expected to take over those legacy chip markets
If the USA was smarter instead of cutting off China from semiconductor chips and equipment for manufacturing
They should have themselves and their allies, lowered prices even more, and dump even more chips on China
Instead their idea was to force the hand of Chinese people at the time content with cheap imported chips.
Hope they could not innovate
When there is now a 7 volume 27 book series on what China invented first that says the world copied from them
And China leads the world in 37 of the 44 critical technologies of the future 🙄
At one point China was importing over 300 billion in chips a year
Now they will probably be exporting around 200 billion dollars worth of their own homegrown chips per year, within the products they export
👇
How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products.
In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants.
Many of these will concentrate on the production of legacy devices.
As for market share, industry intelligence gatherers
Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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@TheGreatAmphibian
What’s the rush China will eventually get there
You are transferring our western thinking on how they think
If the USA is forcing the Chinese to start from scratch
Then the Chinese can go right down to the most basic Rare Earths that go into those Lithography machines and semiconductor chips
In most cases Countries are not refining enough, at all, or the heavy rare earths
So China could play the same game
But they don’t believe in zero-sum game type of thinking
Well not yet
👇
Circumventing the Chokepoint: Can the US Produce More Rare Earths?
Oct 30, 2023
* Rare earths—which include the fifteen lanthanide series elements plus scandium and yttrium—are critical not only to energy technology like permanent magnets in electric vehicles and offshore wind turbines but also to military applications like lasers and precision-guided weapons. These elements enable defense equipment and weapons system components to function.
From 1950 to October 2018, China filed 25,911 rare earth patents, while the United States filed only 9,810. Thus, China can also restrict rare earth technology. In April 2023, for instance, Nikkei Asia reported that China was considering restricting exports of rare earth magnet technology
New Security Beat
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@DailyBeatings probably an older codger like me
But a typical zero-sum game thinking American
Probably does not know that he literally would be dropping like a fly, if China actively participated in a trade war with the west
without 400 thousand Chinese drug labs we would go without the Alzheimer’s, Diabetes, Cancer, Heart Disease drugs and more etc etc etc
That’s because they supply us with the essential ingredients that go into the Worlds Pharmaceutical drugs
👇
U.S. officials worried about Chinese control of American drug supply
"Basically we've outsourced our entire industry to China," retired Brig. Gen. John Adams told NBC News. "That is a strategic vulnerability."
If China shut the door on exports of medicines and their key ingredients and raw material, U.S. hospitals and military hospitals and clinics would cease to function within months, if not days," said Rosemary Gibson, author of a book on the subject, "China Rx."
NBCNews
👇
China's lock on drugs
Two pillars of Trump administration policy – combating the soaring prices for prescription drugs and equalizing the U.S. trade imbalance with China – appear to be on a collision course, drug and foreign policy experts say.
That's because the key ingredients for so many essential drugs, from antibiotics and birth control pills to treatments for cancer, depression, high cholesterol and HIV/AIDS, are purchased from China, says Rosemary Gibson, co-author with Janardan Prasad Singh of a new book called "ChinaRx: Exposing the Risks of America's Dependence on China for Medicine."
CNBC
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@hermon1415
Americans have lost that pioneer ethos
Instead it’s everyone wins everyone gets a participation ribbon mindset….
No one fails
When you say it will take time?
That is failure for the average American and time to give up
Because to them it’s about instant gratification these days or else nothing at all
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@MrStevemur
The difference between the USA and China is in Q3 of 2019
The US FED was bailing out those TOOBIGTOFAIL banks in their repo markets less their credit markets seize up once again
A few things we learned since the 2008 subprime crisis
1) Buying for US debt is not unlimited.
In 2013 the US FED had to buy 71% of the newly issued external Sovereign debt by the US Treasury
2) That Quantitative Easing (QE)debt that was soaped up/printing of money, that debt does not disappear
Since we know from Q3 of 2017 to Q3 of 2019 the FEDs bright idea was to allow 50 to 60 billion of the Agency Debt and US Treasury Debt it soaped up during QE to slowly mature each month, off the FEDs balance sheet.
Their Quantitative Tightening (QT) Where the US Treasury would issue new corresponding debt for the public to buy. Where with this QT selling they managed to dump about 600 to 700 billion in debt on the American “people”
As the American “people” are the biggest buyers of US Sovereign Debt (directly/indirecty)
That QT selling ended during Q3 of 2019 Because that selling of debt ended up helping to freeze up the repo market
Just like when it happened in 2008/2009 during the subprime crisis
Thus the FED balance sheet went from 4.5 trillion to about 3.8 trillion.with that selling from 2017 to 2019
But then the FED had to come back in QE 2.0 and buy that Treasury debt again, all that they dumped and more
Last I checked they ran that FED balance sheeet back up to over 8 trillion. Now it’s back to around 7.8 trillion
Wait you might ask Agency debt is internal debt not supposed to be backed by the US Government
Well the USA has had no issue with taking private internal debt and turning it into External Sovereign Debt backed by the US Government and the American “people”
Something the Chinese might have been tempted to do with the Junk Bonds issued by those Chinese Property Developers
That were a hot commodity the last few years, sought after by sophisticated foreign investors
In short the Chinese purposely deflated their real estate markets. Cut off money to its Property Developers since 2010. And didnt bailout foreign investors who took a risk buying those Property Developer junk bonds the last few years
While the USA left their real estate market to implode. Kept the stimulus/bailout money flowing to the companies, and bailed out foreign investors who invested in private internal debt
👇
As politicians call for taxpayer bailouts and a government takeover of troubled mortgage lenders Freddie Mac and Fannie Mae,
FreedomWorks would like to point out that a bailout is a transfer of possibly hundreds of billions of U.S. tax dollars to sophisticated investors and governments overseas.
The top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury’s most recent “Report on Foreign Portfolio Holdings of U.S. Securities.”
FreedomWorks President Matt Kibbe commented, “The prospectus for every GSE bond clearly states that it is not backed by the United States government. That’s why investors holding agency bonds already receive a significant risk premium over Treasuries.”
“A bailout at this stage would be the worst possible outcome for American taxpayers and mortgage holders, who have been paying a risk premium to these foreign investors.”
“It would change the rules of the game retroactively and would directly subsidize the risks taken by sophisticated foreign investors.”
“A bailout of GSE bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics.”
FreedomWorks
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Good News For Chinese Homeowners: Premier Li Offers Some Clarity On Land Leases
Mar 21, 2017
Chinese homeowners can breathe a little easier.
Last Wednesday, Premier Li Keqiang said a real estate protection provision that would ensure individual’s access to property under a 70-year lease would be renewed unconditionally is being drafted.
This will help to quell ongoing fears that wealth garnered from one generation will be removed after the 70-year lease ends by the government. And while this does not address the fate of 20-year leases, the precedent set in Wenzhou may be replicated in other areas.
Residential land lease policy
Chinese residential land is parceled out in 20- or 70-year leases. Home owners may own their apartment, but do not own the land it is built on, which belongs to the government. The question of how the land lease will be renewed is therefore a big question.
While the 2007 Property law stated that the right to use residential land would be renewed at the expiration of the contract, it did not state how the process would be carried out or how much it might cost to renew the lease. As 20-year leases come due, homeowners want to know what to expect for the future of their oftentimes largest asset. This impacts not only bequeathing property to the next generation, but also selling property. The first 70-year leases are expected to expire around 2030.
Reassurances on the longer leases from the central government follow after Chinese officials in the land ministry assured homeowners in Wenzhou, a city in the eastern Zhejiang province, last December that they would not have to pay a renewal fee to continue to use their residences after the shorter 20-year lease expires. The was a reversal of earlier statements that homeowners would have to pay a large fee of up to a third of the property value to renew.
Wenzhou’s case was unique in that fees for property renewal were quite high; other cities, such as Qingdao and Shenzhen, experienced earlier lease expiries, but did not address the issue or requested lower fees. Wenzhou may set a precedent for other Chinese cities by waiving the renewal fee, albeit only temporarily.
The lease renewal process matters
How central and local governments shape the lease renewal process is critical in maintaining stability in property markets. I believe that the lease renewal process must be codified in a law to make it clear and consistent. Otherwise, a patchwork of policies among local governments, with regard to the 20-year lease, will sow confusion and create strong market biases toward cities with lower renewal fees.
Furthermore, lease renewal should at least be affordable, although analysts hold various opinions as to whether or not it should be free. Notably, across China, 90% of households own their homes, and home ownership is especially important because there are few other reliable investment outlets available to households. Most individuals have not factored the cost of lease renewal into their home price, and a high renewal fee would present a large initial shock to home owners.
Low fees are a double-edged sword
Allowing homeowners to renew leases for a low fee or without paying a new fee is a double-edged sword, however, since local governments obtain funds from selling and leasing land. Abolishing the fees wholesale would result in a drop in much-needed local government revenue, which in some places is already insufficient to support the many services local governments are tasked with.
A property tax would resolve this. However, such a tax has been in the making for the past several years but has yet to be implemented, most likely due to concerns that this would dampen the real estate market. China’s Vice Housing Minister, Lu Kehua, stated last month that China needs to “speed up” a property tax law, yet there was no discussion of this at the recent National People’s Congress. Previous experiments implementing a property tax in Chongqing resulted in confusion about how bills were to be paid and how they were to be administered. Still, potentially replacing land use fees with a property tax makes sense
Forbes
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What are you talking about the Chinese have a pension
And they are transferring money and assets from State owned enterprises to fund their Pensions
👇
Through a central coordination mechanism, over 930 billion yuan ($147.58 billion) from the national pool went to make up for the shortfalls of local pension schemes last year alone.
China's basic old-age insurance, a key program to ensure people's well-being after retirement, has been evolving to a larger-scale management system since its establishment in the 1990s. The central coordination mechanism was set up in 2018 as the first step prior to building a national system to further address unbalanced pension burdens nationwide.
But issues deriving from disparities in regional economic development and demographic structure still exist.
"Some regions have more surpluses, while the others with older populations are under heavier pressure to make pension payments," said Qi Tao, an official from the Ministry of Human Resources and Social Security.
In 2021, over 210 billion yuan from the coordination mechanism went to the central and western regions as well as the northeastern "rust belt" provinces, as a greying population weighs on their pension payments and growing labor outflows squeeze pension income.
Using a nationwide chessboard as a metaphor, the head of the China Association of Social Security Zheng Gongcheng said the new national system will make the pension benefits fairer. "People won't need to sacrifice their pensions for migrating to work, and retirees won't have to deal with the risks from local pension fund shortfalls."
Qi said a mechanism that assigns the respective expenditure responsibilities of central and local governments on pension funds will be built after the national program comes into force and the central government will not roll back its subsidy to the pension funds.
Apart from the coordination efforts and central subsidy, state assets totaling 1.68 trillion yuan from 93 centrally-administered enterprises and financial institutions have also been transferred to replenish the pension schemes.
GOV . CN
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@arthurlincoln9093 China lost 27 million jobs and 100000 thousand factories closed down in 2008 when the USA crashed the world economy during the subprime crisis
You are a foreigner who went to China 8 years ago who has seen nothing but growth
Overheated growth in their real estate
Their country has been trying to shutdown since 2010
But now that you see it you cry wolf
👇
Huge Price Cuts Rumored From Chinese Developers Due To Collapsing Demand
Vincent Fernando, CFA May 29, 2010
Demand is falling since China's central government announced stricter regulations for property transactions during the middle of April. These involve higher down payments and mortgage rates for the purchase of second home, and act which is seen as potential speculation. Such tightening is reducing buying demand.
Thus a moderately bearish view is that property prices need to come down, since demand is likely down yet supply is the same. This challenge isn't limited to Shanghai:
China Vanke Co, the country's largest publicly listed developer, may cut apartment prices by 10 to 30 percent within three months, the Beijing News said yesterday, citing an unidentified sales agent. Local Vanke officials declined to comment yesterday.
Yet Shanghai is where things could get the ugliest, the earliest. This is because the local Shanghai government is planning to clamp down on speculation even harder than China's central government already has:
Chen Qiwei, a spokesman for the Shanghai municipal government, did not preclude the possibility of levying property tax when asked about this issue at a press conference on Friday.
"Shanghai will take more strict measures in line with the central government policy," Chen said, adding that more efforts will be made in building economically affordable houses and cracking down on speculative house purchasing.
Other cities such as Beijing, Chongqing, and Shenzen could have similar additional taxes, but Shanghai is the first to make an official comment such as above according to China Daily. Thing is, any action from Shanghai will likely need approval from the central government.
BusinessInsider
👇
Business
Economics
China Increases Banks’ Reserve Ratios to Cool Prices
By Bloomberg News
December 10, 2010 at 4:08 AM PST
👇
China raises banks' reserve ratios again
Reuters
December 10, 20104:27 AM PSTUpdated 13 years ago
Dec 10, 2010 — The 50 basis point increase, which takes effect on Dec 20, will leave required reserve ratios at 18.5 percent
👇
China Property Market ‘Bubble’ Set to Burst, Xie Says
By Bloomberg News
February 1, 2010 at 11:51 PM PST
China’s property market “bubble” is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.
👇
China cracks down on speculators to cool prices
BY THE ASSOCIATED PRESS
NOV. 23, 2010
The government has ordered banks twice in the past three weeks to raise the amount of money they hold in reserves to rein in lending growth.
👇
China cracks down on property speculation Source:Global Times Published: 2010
The Chinese government has raised the down payment for second-home buyers to a minimum 50 percent of the value from 40 percent, in a bid to curb property speculation.
The decision was announced in a statement released Thursday after conclusion of an executive meeting of the State Council, the Cabinet, presided over by Premier Wen Jiabao, on Wednesday.
First-home buyers must pay no less than 30 percent of the the property price if the area is above 90 square meters, the statement said.
The government was stepping up the introduction of tax policies to influence purchases and adjust property investment returns, said the statement.
Nationwide, land use for the construction of low-income housing, shanty town renovation and small and medium-sized homes (below 90 square meters) should account for at least 70 percent of the land approved for property development, the statement said.
It also urged local authorities to accelerate housing construction approvals to ensure effective land supply, and crack down on land hoarding and speculatory behavior.
👇
China attempts to deflate its unstable property bubble
China is to spend $200bn on low-cost homes as part of a series of measures to slow the rapidly rising prices of urban houses
Tania Branigan in Beijing
Wed 9 Mar 2011 19.24 GMT
Chinese officials are blaming speculators for soaring property prices and are vowing to build 36m affordable homes over the next five years. There are already widespread concerns about China's booming property market and the threat it poses to the country's expanding economy.
China would spend nearly $200bn (£123bn) on an affordable homes and social housing scheme, said deputy housing minister Qi Ji in Beijing .
The pledge came a few days after premier Wen Jiabao promised to "resolutely" curb speculation to tackle excessively rapid price increases
The authorities have taken various steps since spring last year to dampen the property market. These include raising interest rates, increasing the minimum downpayment required on second homes and restricting the rights of foreigners to buy property. Two Chinese cities are now imposing sales tax on property deals.
While the measures have slowed growth, many fear it remains too high. In March 2010, urban housing prices shot up by 11.7% year-on-year, according to figures from the national bureau of statistics. December saw the lowest increase in more than a year, but it still stood at 6.4%.
The Guardian
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@arthurlincoln9093 btw they think differently than how we westerners think
8 years living in a country you don’t like ???
Still have not learned anything about them or yourself
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@arthurlincoln9093 and that is supposed to mean what with your reply???
We all know China is supposed to be the bad guy
And they are in a trade war and suppose to decouple
Just because you went to China to find a wife does not make you an expert on the country
👇
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 Joint Venture (JV) partner
And in “most” cases when you go to China to open up a factory, and export those goods back to your country you don’t have to take on 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 in their factories, 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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Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
What’s to stop the chip-making giant from shoveling taxpayer grants into more stock buybacks?
LES LEOPOLD
Mar 27, 2024
Common Dreams
Intel, the largest chip maker in America, with 2023 revenues of $54 billion, has just been awarded an $8.5 billion grant from the federal CHIPS and Science Act, plus $11 billion in favorable loans.
In addition to badly needed microchips, Intel produces totally useless stock buybacks. On its website the company proudly proclaims to have spent $152 billion on stock buybacks since 1990. That’s not a typo: $152,000,000,000. Which is why I call it "Stock Buybacks Я Us."
Intel took $152 billion of its revenues, some portion of which could have been used for R&D and building new microchip facilities in the U.S. as well as paying workers more, and instead funneled it to its largest Wall Street stockholders and corporate executives, enriching the top fraction of the top one percent.
CommonDreams
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@yunko9369
Civilization state versus nation-state
15/01/11 - Süddeutsche Zeitung
China confronts Europe with an enormous problem: we do not understand it
* The reason why the Chinese state enjoys a formidable legitimacy in the eyes of the Chinese has nothing to do with democracy but can be found in the relationship between the state and Chinese civilization. The state is seen as the embodiment, guardian and defender of Chinese civilization. Maintaining the unity, cohesion and integrity of Chinese civilization – of the civilization-state – is perceived as the highest political priority and is seen as the sacrosanct task of the Chinese state. Unlike in the West, where the state is viewed with varying degrees of suspicion, even hostility, and is regarded, as a consequence, as an outsider, in China the state is seen as an intimate, as part of the family, indeed as the head of the family; interestingly, in this context, the Chinese term for nation-state is ‘nation-family’.
Martin Jacques
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@moreless2690 there are now “27” books out there
on Chinese inventions, that says we copied or stole from the Chinese first
👇
Why was China erased from Western memory
The remarkable history of Chinese invention - Why was China erased from Western memory?
Article by 龙信明
Introduction
Joseph Needham was an English medical doctor and biologist, teaching in England in the 1930s. By an accident of fate he acquired some Chinese students, and was intrigued to hear their claims of so many medical and scientific discoveries having originated in China, rather than in the West.
Needham became fully fluent in Chinese, and eventually moved to China in 1942 to investigate these claims and to research the entire history of Chinese invention. That work led to an astonishing voyage of historical discovery.
Needham originally planned to write a book cataloguing Chinese inventions, but his first volume barely scratched the surface of his subject. He slowly gatherred many of his students into this enterprise, and they eventually wrote a collection of 26 books, to catalog the history of Chinese discovery.
Myth and Misrepresentation
It leaves one speechless to learn the vast extent of things invented by the Chinese many hundreds of years, and often several millennia, before they appeared in the West.
MySingaporeBlogSpot
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@weewahgan6922
We in the west think the Chinese think just like us
Our everyone wins a Participation ribbon. You are so good at this or that little Timmy or Tabitha
So when there is a setback growth target not met, real estate bubble, , the Chinese people will give up like we would here in the West.
🙄
Because since they are not a democracy don’t have the same freedoms we have, the people revolt there is a civil vvar and China crashes and we are saved from the Chinese
🙄
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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Yup
We complained China was the number one polluter in the world
Now that they throw tons of money into their clean, green, renewable etc etc
we cry overcapacity…
when the real question should be…
“what are our countries doing out here in the west”
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF.
The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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@4ndrew4w44
Yup 👍 the American leaders only think with a zero-sum game mentality
👇
China cuts tariffs, cosies up to 16 of world’s poorest nations with US, Australia trade ties strained
8 Aug, 2022
China will cut import tariffs on almost all taxable items shipped from 16 of the world’s poorest countries, including Cambodia, Laos, Djibouti, Rwanda and Togo
SCMP
👇
China starts zero-tariff treatment for 6 least-developed African countries
Positive move to continue bolstering bilateral trade, show demonstration effect
By GT staff reporters
Published: Dec 25, 2023 09:45 PM
The zero-tariff treatment China had granted for six least-developed African countries officially took effect on Monday. Experts and industry players noted that the move will bolster trade between China and Africa while showing a demonstration effect for China's cooperation with other markets.
The Customs Tariff Commission of the State Council, China's cabinet, announced on December 6 that 98 percent of taxable products from Angola, The Gambia, the Democratic Republic of the Congo (DRC), Madagascar, Mali and Mauritania would be exempt from import tariffs starting on Monday.
GT
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@lucadellasciucca967
Learn some history about China
And do not have kids with the Gei Sha girl fantasy you made up in your head with a Chinese wife of yours
👇
China, as a civilization-state, has two main characteristics. Firstly, there is its exceptional longevity, dating back to even before the break-up of the Roman Empire. Secondly, the sheer scale of China – both geographic and demographic – means that it embraces a huge diversity. Contrary to the Western belief that China is highly centralised, in fact in many respects the opposite is the case: indeed, it would have been impossible to govern the country – either now or in the dynastic period – on such a basis. It is simply too large. The implications in terms of the way the Chinese think are profound.
In 1997 Hong Kong was handed over to China by the British. The Chinese constitutional proposal was summed up in the phrase: ‘one country, two systems’. Barely anyone in the West gave this maxim much thought or indeed credence; the assumption was that Hong Kong would soon become like the rest of China. This was entirely wrong. The political and legal structure of Hong Kong remains as different now from the rest of China as in 1997. The reason we did not take the Chinese seriously is that the West is characterised by a nation-state mentality, hence when Germany was unified in 1990 it was done solely and exclusively on the basis of the Federal Republic; the DDR in effect disappeared. ‘One nation-state, one system’ is the nation-state way of thinking. But, as a civilization-state, the Chinese logic is quite different. Because China is so vast and embraces such diversity, as a matter of necessity it must be flexible: ‘one civilization, many systems’.
The idea of China as a civilization-state is a fundamental building block for understanding China in its own terms. And it has multifarious implications. The relationship between the state and society in China is very different to that in the West. Contrary to the overwhelming Western assumption that the Chinese state lacks legitimacy and is bereft of public support, in fact the Chinese state enjoys greater legitimacy than any Western state. We have come to assume that the legitimacy of the state overwhelmingly rests on the democratic process – universal suffrage, competing parties et al. But this is only one element: if it was the whole story, then the Italian state would enjoy a robust legitimacy rather than the reality, a chronic lack of it. And to explain this we have to go back to the Risorgimento as only a partially fulfilled project.
The reason why the Chinese state enjoys a formidable legitimacy in the eyes of the Chinese has nothing to do with democracy but can be found in the relationship between the state and Chinese civilization. The state is seen as the embodiment, guardian and defender of Chinese civilization. Maintaining the unity, cohesion and integrity of Chinese civilization – of the civilization-state – is perceived as the highest political priority and is seen as the sacrosanct task of the Chinese state. Unlike in the West, where the state is viewed with varying degrees of suspicion, even hostility, and is regarded, as a consequence, as an outsider, in China the state is seen as an intimate, as part of the family, indeed as the head of the family; interestingly, in this context, the Chinese term for nation-state is ‘nation-family’.
Martin Jacques
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There is a debate if Dunning-Kruger is real or just be a data artefact.
To me it does not matter what one calls it
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@billyehh
The Paradox at the Heart of China’s Property Regime
What does it mean to 'own' a home in the communist country? Eventually, Beijing will have to decide.
JANUARY 19, 2017, 11:20 AM
Hence the outsize importance of the Wenzhou case as a bellwether. In the mid-1990s, Wenzhou offered residential LURs for sale for varying terms — some for as many as 70 years, but some (about 600 parcels) for as few as 20. (Other cities may have offered similarly short leases, but Wenzhou seems to have been the first.) These 20-year LURs are now coming due, and, predictably, leaseholders have been clamoring for a solution to their dilemma — their preferred solution being free lease renewal.
But if those leaseholders who opted to save money by buying only 20-year LURs were to be given the windfall of perpetual free renewals, it would be politically very hard to deny the same benefit to those millions across China who paid for 70-year LURs. In other words, renewing the leases of those 600 Wenzhou homebuyers free of charge could have heralded the effective return of private land ownership to China.
FP
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@MASMIWA looks like you are 100% right they are refining, but not heavy rare earths yet
👇
SPECIAL REPORT: U.S. Begins Forging Rare Earth Supply Chain
2/10/2023
And soon, MP Materials will no longer have to ship this mixture overseas to China for the lengthy process of separating and refining the rare earth elements. After two years of construction, the company announced in November that it is on the cusp of opening the first rare earth refinement facility within the United States at the Mountain Pass facility.
First it must commission assets for the new facility for the second stage of production, which is a process of stress testing the facility’s equipment to ensure it is performing at the rate it was designed for, Sloustcher said during a tour of the ongoing construction at the Mountain Pass mine. The procedure will unfold over the course of 2023, he added.
“We’re months away from producing refined products,” he said. “It’s really exciting.”
The second stage of production starts with a process of drying, roasting, leaching and purifying the mixture of rare earth concentrate, he explained. Then, the rare earths are fed into one of several towering tanks located in a building longer than an American football field. In these vats, a solvent extraction process separates the mixture into individual rare earth oxides, he said.
Although it’s just one refinement facility competing against multiple in China, its opening marks a crucial step in the United States’ effort to address its vulnerable rare earth supply chain. In 2020, the Department of Defense invested $10 million into the $200 million project, according to a Pentagon press release.
MP Materials will focus on refining a compound of neodymium and praseodymium — one of the most common materials used to make rare earth magnets — as well as lanthanum and cerium, Sloustcher noted. These elements are classified as “light rare earths.”
The government is also pushing for domestic production of “heavy rare earths,” which are more difficult to refine but also used to make more specialized magnets. For example, heavy rare earths terbium and dysprosium are needed to make rare earth permanent magnets that can operate in high temperatures, while samarium is used to produce samarium-cobalt magnets found in aerospace and defense applications.
National Defense Magazine
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@tonysu8860
Wasn’t too long ago we were complaining China was the number 1 polluter in the world and climate change!!!!!
Now that the Chinese throw money at clean,green, renewable etc etc ????
We cry subsidies, overcapacity, and 100% tariffs
What we really should be asking is what our Governments are doing with clean, green, renewables etc etc
Since they cry so much about climate change
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF.
The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
👇
Fossil Fuel Subsidies Surged to Record $7 Trillion
Scaling back subsidies would reduce air pollution, generate revenue, and make a major contribution to slowing climate change
IMF
👇
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The Chinese already control the “majority” of the worlds largest shipping ports and dominate the production of shipping containers
It is you Americans and your support of Israel that seems to be the flashpoint and the ships the Houthis are targeting not the Chinese or Russians
Btw
What most people like you don’t get?
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 in their Chinese factories, 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 of their goods and services into those 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?
For one, it would crash the US Economy
And the Chinese 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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@andrewlim7751
China has an 820 billion dollar trade surplus with the world every year
Holding that much debt is the right amount The US FED crashed their credit markets selling about 600 to 700 billion in debt off its balance sheet over a 2 year period
Plus China has been doing this for over a decade we are just catching on right now
👇
China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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@dice138
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
NikkeiAsia
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@arenzricodexd4409
And this is China we are talking about
there is now 27 books out there on what China invented that says. We copied from them
These days China leads the “world” in 37 of 44 critical technologies of the future
Yet we narrowly focus on the technologies that they are behind
thinking they won’t be able to catch up
In those fields
Or will just give up
Thinking for even a second they think like us over there, is a big mistake
If they thought like us? in zero sum-game theory like us westerners
They would have crashed our economies by now…where yes both sides get hurt but we get hurt more
To think the way you think
Dunning-Kruger thinking
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@kenlee1416
Difference a lot of that US Treasury debt that is being printed up is being put on the US FED Balance Sheet
in Q3 of 2019
The US FED was bailing out those TOOBIGTOFAIL banks in their repo markets once again… less their credit markets seize up once again
A few things we learned since the 2008 subprime crisis
Buying for US debt is not unlimited.
In 2013 the US FED had to buy 71% of the newly issued external Sovereign debt by the US Treasury
That Quantitative Easing (QE)debt that was soaped up/printing of money, that debt does not disappear
Since we know from Q3 of 2017 to Q3 of 2019 the FEDs bright idea was to allow 50 to 60 billion of the Agency Debt and US Treasury Debt it soaped up during QE to slowly mature each month, off the FEDs balance sheet. Quantitative Tightening (QT)
Where the US Treasury would issue new corresponding debt for the public to buy. Where with this QT selling they managed to dump about 600 to 700 billion in debt on the American people… as the American people are the biggest buyers of US Sovereign Debt
That QT selling ended during Q3 of 2019 Because that selling of debt ended up freezing up the repo market
Just like when it happened in 2008/2009 during the subprime crisis
Thus the FED balance sheet went from 4.5 trillion to about 3.8 trillion.with that selling from 2017 to 2019
But then the FED had to come back in QE 2.0 and buy that Treasury debt again, all that they dumped and more
Last I checked they ran that FED balance sheeet back up to over 8 trillion. Now it’s back to around 7.8 trillion
Wait you might ask Agency debt is internal debt not supposed to be backed by the US Government
Well the USA has had no issue with taking private internal debt and turning it into External Sovereign Debt backed by the US Government and the American people
Something the Chinese might have been tempted to do with the Junk Bonds issued by those Chinese Property Developers
That were a hot commodity the last few years, sought after by sophisticated foreign investors
In short the Chinese purposely deflated their real estate markets. Cut off money to its Property Developers. And didnt bailout foreign investors who took a risk buying those junk bonds
While the USA left their real estate market to implode. Kept the money flowing to the companies and bailed out foreign investors who invested in private internal debt
Yet we are complaining who is capitalist/communist
👇
As politicians call for taxpayer bailouts and a government takeover of troubled mortgage lenders Freddie Mac and Fannie Mae,
FreedomWorks would like to point out that a bailout is a transfer of possibly hundreds of billions of U.S. tax dollars to sophisticated investors and governments overseas.
The top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury’s most recent “Report on Foreign Portfolio Holdings of U.S. Securities.”
FreedomWorks President Matt Kibbe commented, “The prospectus for every GSE bond clearly states that it is not backed by the United States government. That’s why investors holding agency bonds already receive a significant risk premium over Treasuries.”
“A bailout at this stage would be the worst possible outcome for American taxpayers and mortgage holders, who have been paying a risk premium to these foreign investors.”
“It would change the rules of the game retroactively and would directly subsidize the risks taken by sophisticated foreign investors.”
“A bailout of GSE bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics.”
FreedomWorks
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Most people believed this about 20 years ago when the Chinese were seen as copycats
But then they don’t even know their own history
👇
A nation of outlaws
A century ago, that wasn't China -- it was us
One hundred and fifty years ago, even America's closest trade partners were despairing about our cheating ways. Charles Dickens, who visited in 1842, was, like many Britons, stunned by the economic ambition of our nation's inhabitants, and appalled by what they would do for the sake of profit. When he first stepped off the boat in Boston, he found the city's bookstores rife with pirated copies of his novels, along with those of his countrymen. Dickens would later deliver
lectures decrying the practice, and wrote home in outrage: "my blood so boiled as I thought of the monstrous injustice." In theUnited States of the early 19th century, capitalism as we know it today was still very much in its infancy. Most people still lived on small farms, and despite the persistent myth that America was the land of laissez-faire, there were plenty of laws on the books aimed at keeping tight reins on the market economy. But as commerce became more complex, and stretched over greater distances, this patchwork system of local and state-level regulations was gradually overwhelmed by a new generation of wheeler-dealer entrepreneurs.
Taking a page from the British, who had pioneered many ingenious methods of adulteration a generation or two earlier, American manufacturers, distributors, and vendors of food began tampering with their products en masse -- bulking out supplies with cheap filler, using dangerous additives to mask spoilage or to give foodstuffs a more appealing color.
Boston Globe
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👇
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
The purge of YMTC's supply chain has been handled with the spirit of a national emergency. Based in the city of Wuhan, the effort did not pause even when the virus epicenter was ravaged by COVID-19 last spring.
While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019. All the while, delivery trucks for critical chipmaking materials drove to and from the production campus.
Nikkei Asia
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@senti2175
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
The purge of YMTC's supply chain has been handled with the spirit of a national emergency. Based in the city of Wuhan, the effort did not pause even when the virus epicenter was ravaged by COVID-19 last spring.
While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019. All the while, delivery trucks for critical chipmaking materials drove to and from the production campus.
Nikkei Asia
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@OTROHIJO
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
The purge of YMTC's supply chain has been handled with the spirit of a national emergency. Based in the city of Wuhan, the effort did not pause even when the virus epicenter was ravaged by COVID-19 last spring.
While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019. All the while, delivery trucks for critical chipmaking materials drove to and from the production campus.
Nikkei Asia
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China has a homegrown 28nm
lithography machines The will get there in the meantime they can go after the legacy chip markets
The Chinese had “virtually” no chip making ability/foundries 6 years ago
thanks to the USA who did the job for the Chinese people and Government
China is now expected to take over those legacy chip markets
If the USA was smarter
instead of cutting off China from semiconductor chips and equipment for manufacturing
They should have lowered prices even more, and dump even more chips on China
Instead their idea was to force the hand of Chinese at the time content with cheap imported chips. Hope they could not innovate
When China leads the world in 37 of the 44 critical technologies of the future 🙄
👇
How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products.
In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants.
Many of these will concentrate on the production of legacy devices.
As for market share, industry intelligence gatherers
Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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@lesact no you are not understanding correctly
Take for example that 2016 ICJ case the Philippines brought up between themselves and China over their land and water dispute
The Philippines under UNCLOS had every right to request a tribunal as a resolution
But
China under UNCLOS had every right not to accept the tribunal as a resolution
No one other than Taiwan accepts that 9 dash line claim. Which the tribunal did rule against
The tribunal did not rule on ownership of the disputed islands or waters
But what the tribunal did state was ... No one exhibited continuous control over the islands, reefs, water in dispute
That means all the other countries who also have their land and water disputes including China and the Philippines
Have dug into the land and water they control. And are basically saying talk to us in few hundred years
👇
Article 287
Choice of procedure
1. When signing, ratifying or acceding to this Convention or at any time thereafter, a State shall be free to choose, by means of a written declaration, one or more of the following means for the settlement of disputes concerning the interpretation or application of this Convention:
(a) the International Tribunal for the Law of the Sea established in accordance with Annex VI;
(b) the International Court of Justice;
(c) an arbitral tribunal constituted in accordance with Annex VII;
(d) a special arbitral tribunal constituted in accordance with Annex VIII for one or more of the categories of disputes specified therein.
2. A declaration made under paragraph 1 shall not affect or be affected by the obligation of a State Party to accept the jurisdiction of the Seabed Disputes Chamber of the International Tribunal for the Law of the Sea to the extent and in the manner provided for in Part XI, section 5.
3. A State Party, which is a party to a dispute not covered by a declaration in force, shall be deemed to have accepted arbitration in accordance with Annex VII.
4. If the parties to a dispute have accepted the same procedure for the settlement of the dispute, it may be submitted only to that procedure, unless the parties otherwise agree.
5. If the parties to a dispute have not accepted the same procedure for the settlement of the dispute, it may be submitted only to arbitration in accordance with Annex VII, unless the parties otherwise agree.
6. A declaration made under paragraph 1 shall remain in force until three months after notice of revocation has been deposited with the Secretary-General of the United Nations.
7. A new declaration, a notice of revocation or the expiry of a declaration does not in any way affect proceedings pending before a court or tribunal having jurisdiction under this article, unless the parties otherwise agree.
8. Declarations and notices referred to in this article shall be deposited with the Secretary-General of the United Nations, who shall transmit copies thereof to the States Parties.
UNORG
👇
Article 287, paragraph 1, provides that States and entities, when signing, ratifying or acceding to the Convention, or at any time thereafter, may make declarations specifying the forums for the settlement of disputes which they accept. Article 287, paragraph 1, reads: "Article 287
UNORG
👇
Article 298
Optional exceptions to applicability of section 2
1. When signing, ratifying or acceding to this Convention or at any time thereafter, a State may, without prejudice to the obligations arising under section 1, declare in writing that it does not accept any one or more of the procedures provided for in section 2 with respect to one or more of the following categories of disputes:
(a) (i) disputes concerning the interpretation or application of articles 15, 74 and 83 relating to sea boundary delimitations, or those involving historic bays or titles, provided that a State having made such a declaration shall, when such a dispute arises subsequent to the entry into force of this Convention and where no agreement within a reasonable period of time is reached in negotiations between the parties, at the request of any party to the dispute, accept submission of the matter to conciliation under Annex V, section 2; and provided further that any dispute that necessarily involves the concurrent consideration of any unsettled dispute concerning sovereignty or other rights over continental or insular land territory shall be excluded from such submission;
(ii) after the conciliation commission has presented its report, which shall state the reasons on which it is based, the parties shall negotiate an agreement on the basis of that report; if these negotiations do not result in an agreement, the parties shall, by mutual consent, submit the question to one of the procedures provided for in section 2, unless the parties otherwise agree;
(iii) this subparagraph does not apply to any sea boundary dispute finally settled by an arrangement between the parties, or to any such dispute which is to be settled in accordance with a bilateral or multilateral agreement binding upon those parties;
(b) disputes concerning military activities, including military activities by government vessels and aircraft engaged in non-commercial service, and disputes concerning law enforcement activities in regard to the exercise of sovereign rights or jurisdiction excluded from the jurisdiction of a court or tribunal under article 297, paragraph 2 or 3;
(c) disputes in respect of which the Security Council of the United Nations is exercising the functions assigned to it by the Charter of the United Nations, unless the Security Council decides to remove the matter from its agenda or calls upon the parties to settle it by the means provided for in this Convention.
2. A State Party which has made a declaration under paragraph 1 may at any time withdraw it, or agree to submit a dispute excluded by such declaration to any procedure specified in this Convention.
3. A State Party which has made a declaration under paragraph 1 shall not be entitled to submit any dispute falling within the excepted category of disputes to any procedure in this Convention as against another State Party, without the consent of that party.
4. If one of the States Parties has made a declaration under paragraph 1(a), any other State Party may submit any dispute falling within an excepted category against the declarant party to the procedure specified in such declaration.
5. A new declaration, or the withdrawal of a declaration, does not in any way affect proceedings pending before a court or tribunal in accordance with this article, unless the parties otherwise agree.
6. Declarations and notices of withdrawal of declarations under this article shall be deposited with the Secretary-General of the United Nations, who shall transmit copies thereof to the States Parties.
UNORG
👇
The Government of the People’s Republic of China does not accept any of the procedures provided for in Section 2 of Part XV of the Convention with respect to all the categories of disputes referred to in paragraph 1 (a) (b) and (c) of Article 298 of the Convention.
UNORG
👇
In addition, article 298, paragraph 1, allows States and entities to declare that they exclude the application of the compulsory binding procedures for the settlement of disputes under the Convention in respect of certain specified categories kinds of disputes. Article 298, paragraph 1, reads:
UNORG
👇
Article 299 Right of the parties to agree upon a procedure
1. A dispute excluded under article 297 or excepted by a declaration made under article 298 from the dispute settlement procedures provided for in section 2 may be submitted to such procedures only by agreement of the parties to the dispute.
2. Nothing in this section impairs the right of the parties to the dispute to agree to some other procedure for the settlement of such dispute or to reach an amicable settlement.
Introduction:
Article 310 of the Convention allows States and entities to make declarations or statements regarding its application at the time of signing, ratifying or acceding to the Convention, which do not purport to exclude or modify the legal effect of the provisions of the Convention.
Article 310 reads:
"Article 310. Declarations and statements "Article 309 does not preclude a State, when signing, ratifying or acceding to this Convention, from making declarations or statements, however phrased or named, with a view, inter alia, to the harmonization of its laws and regulations with the provisions of this Convention, provided that such declarations or statements do not purport to exclude or to modify the legal effect of the provisions of this Convention in their application to that State."
UNORG
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@lesact
Timeline of the South China Sea dispute
* It has been claimed by the People's Republic of China on the argument that since 200 BCE Chinese fishermen have used the Spratly islands
* Naval forces of the Liu Song dynasty (420–479 CE) patrolled the Paracel and Spratly islands.[5] In the Tang dynasty (618–907 CE), the islands were placed under the administration and authority of the Qiongzhou Prefecture (now Hainan Province).[5] The Chinese administration of the South China Sea continued into the Song dynasty (960–1279 CE).[5]
* Archaeologists have found Chinese made potteries porcelains and other historical relics from the Southern dynasties (420–589 CE), the Sui dynasty (581–619 CE), the Tang dynasty, the Song dynasty, the Yuan dynasty (1271–1368 CE), the Ming dynasty (1368–1644 CE) and later eras up to modern times on the South China Sea islands.[5]
1876 – China makes its earliest documented claim to the Paracel Islands[citation needed]
1883 – When the Spratlys and Paracels were surveyed by Germany in 1883, China issued protests.
1887 – In the 19th century, Europeans found that Chinese fishermen from Hainan annually visited the Spratly islands for part of the year, while in 1877 it was the British who launched the first modern legal claims to the Spratlys
1902 – China sends naval forces on inspection tours of the Paracel Islands to preempt French claims.[28] Scholar François-Xavier Bonnet argued that per Chinese records, these expeditions never occurred and were backdated during the 1970s.[29][30]
1907 – China sends another naval force, this time to plan for resource exploitation.[28]
1911 – The newly formed Republic of China, successor state to the Qing dynasty, moves administration of the Paracel Islands to Hainan,[28] which would not become a separate Chinese province until 1988.
1946 – The R.O.C. established garrisons on both Woody (now Yongxing / 永兴) Island in the Paracels and Taiping Island in the Spratlys. France protested.
The French tried but failed to dislodge Chinese nationalist troops from Yongxing Island/Woody Island (the only habitable island in the Paracels), but were able to establish a small camp on Pattle (now Shanhu / 珊瑚) Island in the southwestern part of the archipelago.[37][38][39] The Republic of China drew up The Southern China Sea Islands Location Map, marking the national boundaries in the sea with 11 lines, two of which were later removed, showing the U-shaped claim on the entire South China Sea, and showing the Spratly and Paracels in Chinese territory, in 1947.[28]
The Americans reminded the Philippines at its independence in 1946 that the Spratlys was not Philippine territory, both to not anger Chiang Kai-shek in China and because the Spratlys were not part of the Philippines per the 1898 treaty Spain signed with America.[38]
1950 – After the Chinese nationalists were driven from Hainan by the People's Liberation Army (PLA), they withdrew their garrisons in both the Paracels and Spratlys to Taiwan.
1969 – A UN sponsored research team discovers oil under the sea floor of the island group.
1970 – China occupies Amphitrite Group of the Paracel Islands
* In 1596, the Spanish Colonial Government declared that each island in the Kalayaan Islands, now known as the Spratly Islands, had Barangay or Barrio status.
1971 – Philippines announces claim to islands adjacent to its territory in the Spratlys, which they named Kalayaan, which was formally incorporated into Palawan Province in 1972. The Philippines President Marcos announced the claims after Taiwanese troops attacked and shot at a Philippine fishing boat on Itu Aba.[
Wikipedia
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What most people don’t get?
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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@DanielK1213th nice speech
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The US crackdown on Chinese economic espionage is a mess. We have the data to show it.
The US government’s China Initiative sought to protect national security. In the most comprehensive analysis of cases to date, MIT Technology Review reveals how far it has strayed from its goals.
The effect of all these cases on Chinese, Chinese American, and scientific communities has been profound.
A member survey of more than 3,200 physicists carried out in September by the American Physical Society found that more than 43% of foreign early-career researchers now consider the United States to be unwelcoming for international students and scholars. Less than 25% believe that the US federal government does a good job of balancing national security concerns with the research requirements for open science.
Another survey of nearly 2,000 scientists at 83 research institutions carried out by the University of Arizona with the Committee of 100, an advocacy group that focuses on US-China issues, found that 51% of scientists of Chinese descent, including US citizens and noncitizens, feel considerable fear, anxiety, or both, about being surveilled by the US government. This compares to just 12% of non-Chinese scientists.
Some respondents in the University of Arizona study indicated that this climate of fear has affected how—or what—they choose to research. One said they were limiting their work to only use data that is publicly available rather than collecting their own original data; one indicated that they would no longer host visitors from China; another said they would focus on what they call “safer” topics rather than “cutting edge” research.
The effects of the initiative stretch even further. No one knows the exact number of scientists who have returned to China as a result of investigations or charges, but in late 2020, John Demers, then the assistant attorney general for national security, said that “more than 1,000 PLA-affiliated Chinese researchers left the country.” An additional group of 1,000 Chinese students and researchers had their visas revoked that September due to security concerns. How their security risks or affiliations with the People’s Liberation Army of China were determined, however, has not been explained.
Randy Katz, a computer science professor at UC Berkeley who served as the university’s vice chancellor for research until earlier this year, says the initiative will have a grave impact on US innovation.
“I am most concerned about how the initiative will deny the USA access to the world’s best science and technology talent,” he said in an email. “Recently, as [many] as 40% of our international graduate students were from China. These students are heavily represented in the STEM fields, are highly competitively selected…and represent a critical component of our research workforce. We want them to come and we want them to stay and innovate in the USA.”
MIT Technology Review
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China has an 820 billion dollar trade surplus with the world every year
Holding that much debt is the right amount The US FED crashed their credit markets selling about 600 to 700 billion in debt off its balance sheet over a 2 year period
Plus China has been doing this for over a decade we are just catching on right now
👇
China’s Gold Reserves Unveiled: Investigating Claims of Secret Hoarding and the Alleged Discrepancy
JANUARY 9, 2024
Based on these calculations, Frisby estimates that China has at around 33,000 tons of gold, with at least half being state-owned. That state-owned portion (16,500 tons) is double what the U.S. holds.
If China admits to the U.S., “We got twice as much gold as you,’ that’s tantamount to a declaration of war,” according to Frisby. The yuan would become more valuable, gold would become more valuable, and China would become the leader of both of these assets.
OxfordGoldGroup
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How Much Money Does the World Owe China?
Our research, based on a comprehensive new data set, shows that China has extended many more loans to developing countries than previously known. This systematic underreporting of Chinese loans has created a “hidden debt” problem – meaning that debtor countries and international institutions alike have an incomplete picture on how much countries around the world owe to China and under which conditions.
In total, the Chinese state and its subsidiaries have lent about $1.5 trillion in direct loans and trade credits to more than 150 countries around the globe. This has turned China into the world’s largest official creditor — surpassing traditional, official lenders such as the World Bank, the IMF, or all OECD creditor governments combined.
Despite the large size of China’s overseas lending boom, no official data exists on the resulting debt flows and stocks. China does not report on its international lending, and Chinese loans literally fall through the cracks of traditional data-gathering institutions. For example, credit rating agencies, such as Moody’s or Standard & Poor’s, or data providers, such as Bloomberg, focus on private creditors, but China’s lending is state sponsored, and therefore off their radar screen. Debtor countries themselves often do not collect data on debt owed by state-owned companies, which are the main recipients of Chinese loans. In addition, China is not a member of the Paris Club (an informal group of creditor nations) or the OECD, both of which collect data on lending by official creditors.
HarvardBusinessReview
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China is hiding $3 trillion of foreign currency in 'shadow reserves,' adding unknown risks to the global economy, former Treasury official says
Filip De Mott Jun 30, 2023
Half of China's currency reserves are "hidden," a situation that may add risks to the global economy down the road, former Treasury Department official Brad Setser wrote.
While the country's State Administration of Foreign Exchange reported $3.12 trillion in foreign assets last December, Setser estimates that foreign exchange reserves actually sit at around $6 trillion.
"China is so big that how it manages its economy and currency matters enormously to the world," he wrote in The China Project. "Yet over time the way it manages its currency and its foreign exchange reserves has become much less transparent – creating new kinds of risks for the global economy."
A key indicator about China's reserves is a sudden pause in its reported activity. From 2002 to 2012, China's foreign exchange reserves steadily rose as the central bank bought US dollar assets to prevent China's yuan from appreciating too much, allowing exports to remain cheap.
But over the last 10 years, China's reserves stopped rising, which is puzzling as China's trade surplus has continued growing, and currently stands at an all-time high, he said.
BI
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@palirvin1871 who says these homes have to have people in them?
But there is an easy fix with the Chinese Government crackdown on real estate m/speculation even after 14 year warning???
The people who are owed homes by these developers can take a higher end home
And the few hundred million rural folks still expected to move to the cities
Can buy these homes built by Developers at a discounted price
👇
Do China’s ghost cities offer a solution to Europe’s migrant crisis?
Even though there are between 20 and 45 million unoccupied homes
across China, which account for roughly 600 million square meters of
uninhabited floor space — enough to completely cover Madrid — these places are not the urban wastelands they are often posited to be.
While many of China’s new cities and urban districts are deficient in people they are not deficient in owners. Nearly every apartment that goes on the market in China is quickly purchased, often at exorbitant prices that commonly range into the hundreds of thousands of dollars. Far from being unwanted infrastructure that could seamlessly be doled out to refugees, those arrays of vacant high-rises are actually the proud possessions of people who paid a lot of money for them.
So why would anyone spend incredible amounts of cash on houses they do not intent to use?
All over the world, the value of property extends beyond the utilitarian function of being a place to live. Real estate is also a vital economic entity that presents an avenue for investment as well as a way of storing wealth — a use of
property that is taken to the extreme in China. “Many Chinese investors are buying property based on expectations of appreciation, and that it is a solid, safe investment that they can easily understand,” said Mark Tanner, the founding director of China Skinny, a Shanghai based marketing research firm.
A full 39 percent of individual wealth in China is kept in housing, and, according to Nomura, 21 percentof China’s urban households possess more than one home. The reasons for this desire to invest in housing often results from a lack of better options. China’s banks pay negative interest and are becoming even more unattractive with the recent wave of currency devaluation. Wealth management products are not fully developed and are highly regulated by the government, and the stock market is viewed to be about as secure as a casino.
Another reason for the sheer number of unused apartments in China is the fact that there is often little financial incentive for owners to do anything with them after purchase.
There is no yearly property tax in China, so vacant properties are not an financial drain on their owners.
Reuters
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@palirvin1871
Do China's ghost cities offer a solution to Europe's migrant crisis?
Even though there are between 20 and 45 million unoccupied homes across China, which account for roughly 600 million square meters of uninhabited floor space - enough to completely cover Madrid - these places are not the urban wastelands they are often posited to be. While many of China's new cities and urban districts are deficient in people they are not deficient in owners. Nearly every apartment that goes on the market in China is quickly purchased, often at exorbitant prices that commonly range into the hundreds of thousands of dollars. Far from being unwanted infrastructure that could seamlessly be doled out to refugees, those arrays of vacant high-rises are actually the proud possessions of people who paid a lot of money for them.
A huge portion of the homes that are purchased in China function very much like stocks or a trade-able commodity. As an incredible number of new apartments are sold as unfinished concrete cavities without any interior fit out or even windows, they are in no way immediately livable. Strange as it may seem, they are very actively bought and sold in this bare-bones form. In fact, investors often prefer them that way. In many ways they are purely economic entities, quantifiable placeholders of value that are traded on the open market akin to precious metals. Just as one doesn't need to mold a piece of gold into something usable, like a piece of jewelry, for it to have value and an economic function, an apartment in China doesn't need to have people living in it for it to be economically viable.
"Empty units leave flexibility for quick sales in a changing market or need to cash in quickly," said Barry Wilson, the founding director of Barry Wilson Project Initiatives, a Hong Kong-based urban design firm.
Another reason for the sheer number of unused apartments in China is the fact that there is often little financial incentive for owners to do anything with them after purchase. There is no yearly property tax in China, so vacant properties are not a financial drain on their owners.
While the potential returns that could be had from renting them out (1 percent or so) is often not worth the hassle - especially because it costs tens of thousands of dollars to construct the interiors of new apartments in preparation for tenants. This is combined with the fact that Chinese homeowners, especially investors who have multiple properties, are remarkably un-leveraged. According to Mark Tanner, over 80 percent of homes in China are owned outright.
This means that most homeowners, especially the big investors with multiple properties, generally don't have any mortgages to pay off or any other leans, so there isn't as much financial pressure to make a profit from these homes in the short term.
Reuters
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@barnabusdoyle4930
Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
What’s to stop the chip-making giant from shoveling taxpayer grants into more stock buybacks?
LES LEOPOLD
Mar 27, 2024
Common Dreams
Intel, the largest chip maker in America, with 2023 revenues of $54 billion, has just been awarded an $8.5 billion grant from the federal CHIPS and Science Act, plus $11 billion in favorable loans.
In addition to badly needed microchips, Intel produces totally useless stock buybacks. On its website the company proudly proclaims to have spent $152 billion on stock buybacks since 1990. That’s not a typo: $152,000,000,000. Which is why I call it "Stock Buybacks Я Us."
Intel took $152 billion of its revenues, some portion of which could have been used for R&D and building new microchip facilities in the U.S. as well as paying workers more, and instead funneled it to its largest Wall Street stockholders and corporate executives, enriching the top fraction of the top one percent.
CommonDreams
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Americans the f ache News used car salesmen these days
👇
Nine Chinese cars scored five stars in Euro NCAP in 2023
In 2023, Euro NCAP crash-tested 17 cars. Nine of them were Chinese EVs, accumulating over 50% of assessed vehicles. According to E-NCAP, Chinese manufacturers were anxious to prove their relevance to European buyers. They have achieved this goal because every evaluated made-in-China car got five stars.Dec 11, 2023
CarNewsChina
👇
Government data show gasoline vehicles are up to 100x more prone to fires than EVs
New study shows EV fires are far less common than in gas vehicles.
According to findings pointed out by AutoInsuranceEZ, vehicles that operate using gasoline are tenfold more likely to catch fire compared to EVs.
Electrek
👇
You’re Wrong About EV Fires
Gas- and diesel-powered vehicles catch fire way more often than EVs, but you wouldn’t know that from the headlines.
Jul 11, 2023
Combustion-Powered Vehicles Are 29 Times More Likely To Catch Fire
According to MSB data, there are nearly 611,000 EVs and hybrids in Sweden as of 2022.
With an average of 16 EV and hybrid fires per year, there's a 1 in 38,000 chance of fire.
There are a total of roughly 4.4 million gas- and diesel-powered passenger vehicles in Sweden, with an average of 3,384 fires per year, for a 1 in 1,300 chance of fire.
That means gas- and diesel-powered passenger vehicles are 29 times more likely to catch fire than EVs and hybrids.
Motor trend
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Electric Vehicle Fires: How Often Do They Really Occur?
Should an electric vehicle catch fire, it is more likely to happen while being parked or during charging. And where there is electricity, there are potential ignition sources," says Egelhaaf. However, the electric vehicle itself is rarely the cause." The cause can be an improper charger or that the building's electrical installation is not designed for charging electric cars," explains Egelhaaf.
Dekra
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China is pivoting to green clean renewables etc etc etc
away from real estate and speculation
America complains China subsidizes well duuuuuuh
America was complaining Chima was the worlds biggest polluter
Now they are throwing even more money into clean,green, renewable etc etc
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF. The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
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Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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We in the west think the Chinese think just like us
Our everyone wins a Participation ribbon. You are so good at this or that little Timmy or Tabitha
So when there is a setback growth target not met, real estate bubble, , the Chinese people will give up like we would here in the West.
🙄
Because since they are not a democracy don’t have the same freedoms we have, the people revolt there is a civil vvar and China crashes and we are saved from the Chinese
🙄
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
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@NadeemAhmed-nv2br As countries modernize their natural population replacement rates plummeted as well
America as well has not met “natural” population replacement rates since 1972
But look at them complaining about immigrants these days
Here is an example by 2033 Social Security payments will need to be cut by 27%
Unless they borrow even more, raise taxes even higher or pile the immigrants in
Because it certainly looks like more and more Americans are souring on Clean, Geeen, Renewable AI and Robotics
👇
Robotic upside to China’s demographic decline
Fewer workers mean more industrial robots, greater efficiency and higher value-added
By SCOTT FOSTER
JANUARY 23, 2023
Even if some of the dire prophecies are accurate, however, the population decline will also make automation an absolute necessity – as has happened in Japan. It will widen China’s already large lead in the deployment of industrial robots and the industrial internet of things, helping to create an enormous market for service robots.
This process is already well underway. Over the past decade, installations of industrial robots in China have increased by 10.7 times, according to the International Federation of Robotics (IFR). Compare that with 68% growth in Japan, 67% growth in the US, 20% growth in Germany and 19% growth in South Korea.
In just a few years, China has become the world’s largest user of industrial robots by a very wide margin. In 2021, China accounted for 52% of total worldwide installations. Trailing far behind, Japan accounted for 9%, the US for 7%, South Korea for 6% and Germany for 5%. Viewed by region, Asia accounted for 74% of the total, Europe for 16% and the Americas for 10%
AsiaTimes
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@ZweiZwolf yes inorder to do so the west has to build the factories, infrastructure, educate and train the people, give financial incentives/ tax breaks etc etc etc
All that cost money, which I don’t see the west doing enough of any of that
Where the Chinese???
are preparing for that decoupling
👇
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
NikkeiAsia
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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
I order for the west to bring back that manufacturing the west has to build the factories, infrastructure, educate and train the people, give financial incentives/ tax breaks etc etc etc
All that cost money, which I don’t see the west doing enough of any of that
Where the Chinese???
are already preparing for that decoupling
For example… Ethnic Chinese have been going to South East Asia for centuries
The last 40 to 50 years Chinese people and their companies have been going to SE Asia dominating the economies of these Countries.
Where these Countries have become dependent on the Chinese economy
And then there is this
👇
US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
NikkeiAsia
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How long do electric car batteries last? What 6,300 electric vehicles tell us about EV battery life
Last updated on May 31, 2024
How long do EV batteries last? According to research from Geotab, the simple answer is that if the observed EV battery degradation rates are maintained, the vast majority of batteries will outlast the usable life of the vehicle and will never need to be replaced.
Based on data from over 6,000 electric vehicles, spanning all the major makes and models, Geotab finds that EV batteries are exhibiting high levels of sustained health.
Across all vehicles, on average, an EV battery degrades at 2.3% per year. Do electric car batteries wear out? Of course, like all batteries, they will eventually wear out, but in most cases, this will be long after the vehicle’s life-cycle is complete.
See also: To what degree does temperature impact EV range? Do electric cars lose range over time? Technically, yes. What this means for an electric vehicle’s range is, if you purchase an EV today with a 150-mile range, you would lose about 17 miles of accessible range after five years.
This decline is not likely to have a significant impact on most drivers’ day-to-day needs, but it is a factor fleet managers will need to consider when it comes to maximizing the value of their EVs. Importantly for consumers, car makers commonly offer a warranty on EV batteries for around eight years or 100,000 miles.
This is the federal minimum in the United States and it varies by manufacturer and country.
But by all accounts, electric car batteries should last much longer than that.
GeoTab
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Government data show gasoline vehicles are up to 100x more prone to fires than EVs
New study shows EV fires are far less common than in gas vehicles.
According to findings pointed out by AutoInsuranceEZ, vehicles that operate using gasoline are tenfold more likely to catch fire compared to EVs.
Electrek
👇
You’re Wrong About EV Fires
Gas- and diesel-powered vehicles catch fire way more often than EVs, but you wouldn’t know that from the headlines.
Jul 11, 2023
Combustion-Powered Vehicles Are 29 Times More Likely To Catch Fire
According to MSB data, there are nearly 611,000 EVs and hybrids in Sweden as of 2022.
With an average of 16 EV and hybrid fires per year, there's a 1 in 38,000 chance of fire.
There are a total of roughly 4.4 million gas- and diesel-powered passenger vehicles in Sweden, with an average of 3,384 fires per year, for a 1 in 1,300 chance of fire.
That means gas- and diesel-powered passenger vehicles are 29 times more likely to catch fire than EVs and hybrids.
Motor trend
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The 2nd Automotive Winter Testing Festival held in Heihe, Heilongjiang Province
NEWS PROVIDED BY
Publicity Department of the CPC Heihe Municipal Committee
Jan 09, 2023, 02:33 ET
* Themed "passion, speed, and vitality", the Winter Testing Festival joined hands with the China Mass Production Car Performance Challenge (hereinafter referred to as CCPC), attracting more than 10 teams and nearly 30 brands, according to the Publicity Department of the CPC Heihe Municipal Committee
The festival will promote the test season through a variety of activities, integrating test, racing and sales for the deep integration and development of China'sautomotive industry.
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@georwoogle anytime you want to debate what I posted
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF.
The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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@nickl5658
Yup…
The difference between the USA and China
is in Q3 of 2019
The US FED was bailing out those TOOBIGTOFAIL banks in their repo market less their credit markets seize up… once again
A few things we learned since the 2008 subprime crisis
Buying for US debt is not unlimited.
In 2013 the US FED had to buy 71% of the newly issued external Sovereign debt by the US Treasury
That Quantitative Easing (QE)debt that was soaped up/printing of money, that debt does not disappear
Since we know from Q3 of 2017 to Q3 of 2019 the FEDs bright idea was to allow 50 to 60 billion of the Agency Debt and US Treasury Debt it soaped up during QE to slowly mature each month, off the FEDs balance sheet.
Their Quantitative Tightening (QT)
Where the US Treasury would issue new corresponding debt for the public to buy. Where with this QT selling they managed to dump about 600 to 700 billion in debt on the American “people”
As the American “people” are the biggest buyers of US Sovereign Debt (directly/indirecty)
That QT selling ended during Q3 of 2019 Because that selling of debt ended up helping to freeze up the repo market
Just like when it happened in 2008/2009 during the subprime crisis
Thus the FED balance sheet went from 4.5 trillion to about 3.8 trillion.with that selling from 2017 to 2019
But then the FED had to come back in QE 2.0 and buy that Treasury debt again, all that they dumped and more
Last I checked they ran that FED balance sheeet back up to over 8 trillion. Now it’s back to around 7.8 trillion
Wait some people might ask…..
Agency debt is internal debt not supposed to be backed by the US Government
Well the USA has had no issue with taking private internal debt and turning it into External Sovereign Debt backed by the US Government and the American “people”
Something the Chinese might have been tempted to do with the Junk Bonds issued by those Chinese Property Developers
That were a hot commodity the last few years, sought after by sophisticated foreign investors
In short the Chinese purposely deflated their real estate markets. Cut off money to its Property Developers since 2010. And didnt bailout foreign investors who took a risk buying those Property Developer junk bonds the last few years
While the USA left their real estate market to implode. Kept the stimulus/bailout money flowing to the companies, and bailed out foreign investors who invested in private internal debt
👇
As politicians call for taxpayer bailouts and a government takeover of troubled mortgage lenders Freddie Mac and Fannie Mae,
FreedomWorks would like to point out that a bailout is a transfer of possibly hundreds of billions of U.S. tax dollars to sophisticated investors and governments overseas.
The top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury’s most recent “Report on Foreign Portfolio Holdings of U.S. Securities.”
FreedomWorks President Matt Kibbe commented, “The prospectus for every GSE bond clearly states that it is not backed by the United States government. That’s why investors holding agency bonds already receive a significant risk premium over Treasuries.”
“A bailout at this stage would be the worst possible outcome for American taxpayers and mortgage holders, who have been paying a risk premium to these foreign investors.”
“It would change the rules of the game retroactively and would directly subsidize the risks taken by sophisticated foreign investors.”
“A bailout of GSE bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics.”
FreedomWorks
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@gelinrefira More like the Chinese don’t believe in zero-sum game type of thinking
They viewed the Americans as partners, probably still view them as partners they can work with in the future
Kind of like waiting for Meloni going to China to reset recently
But at this time they have to view the USA as an unreliable partner. But one who might reset relations in the future
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US-China tech war: Beijing's secret chipmaking champions
How Washington's sanctions boosted China's semiconductor sector
MAY 5, 2021
Plan B
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers -- or, at least, non-U.S. ones -- to replace the current dependence on American technology.
The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet.
YMTC is seeking to learn as much as it can about the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines, multiple sources familiar with the matter said. The audit extends not only to YMTC's own production lines, but also to suppliers, suppliers' suppliers, and so on.
"The review is as meticulous as knowing where the screws and nuts are coming from, the lead time, and if those parts have alternatives," one person familiar with the matter told Nikkei Asia.
The purge of YMTC's supply chain has been handled with the spirit of a national emergency. Based in the city of Wuhan, the effort did not pause even when the virus epicenter was ravaged by COVID-19 last spring.
While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019. All the while, delivery trucks for critical chipmaking materials drove to and from the production campus.
Nikkei Asia
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@forgettohaveaname2954
The Chinese had “virtually” no chip making ability/foundries 6 years ago
thanks to the USA who did the job for the Chinese people and Government
China is now expected to take over those legacy chip markets
If the USA was smarter
instead of cutting off China from semiconductor chips and equipment for manufacturing
They should have lowered prices even more, and dump even more chips on China
Instead their idea was to force the hand of Chinese at the time content with cheap imported chips. Hope they could not innovate
When China leads the world in 37 of the 44 critical technologies of the future 🙄
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How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products.
In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants.
Many of these will concentrate on the production of legacy devices.
As for market share, industry intelligence gatherers
Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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