Comments by "D W" (@DW-op7ly) on "Inside China Business"
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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…
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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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@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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