Comments by "D W" (@DW-op7ly) on "The Electric Viking" channel.

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  8.  @PelleGIT  For the west it’s about China closing itself off to them especially the USA It not about trade deficits because we in the west tend to consume more than we produce So we trade with XYZ country we will have trade deficit with them Our western countries /multinational corporations want more or better access to Chinese domestic markets, even though in 2018 when trump started his trade war, just US multinationals based in China alone and their subsidiaries, had 392 billion in sales for their goods and services in China In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities Which their Government in 2010 started to crackdown on this speculation Which our western 1%ters and their multinational corporations don’t like They wanted those overheated real estate markets. They want those Chinese buying their 4th and 5th homes right about now (Even though there is a few hundred million less well off rural folks, who they are expecting to migrate to the cities where they can’t find affordable housing as Property Developers build higher end homes that make them more money) That’s because our western 1%ters and their multinational corporations want to be the ones loaning out that money for those homes Getting at those high Chinese saving's getting them to spend them on their goods and services and then borrowing to spend some more like they did to us (although we the average westerners are also at fault as we played our part by borrowing and spending) The Chinese just ain’t playing ball so they are obviously the bad guys to our elite western 1%ters 👇 Project Syndicate The value of global China China faces important questions about whether and to what extent it should continue to pursue opening up its economy to the rest of the world, write Jonathan Woetzel and Jeongmin Seong in Project Syndicate. In any case, China and the world face important questions about the trajectory of their mutual engagement. At stake, according to our simulation, may be some $22-37 trillion in economic value – or 15-26% of world GDP – by 2040. McKinsey
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  9.  @philgooddr.7850  China is still considered a developing country by the WTO A decade ago people were complaining about China being the worlds biggest polluter Now it’s China subsidized this plus that and over capacity 🙄 Maybe it’s time for these richer countries to put even more money into fixing the climate change they fear so much Because let’s get one thing straight every country is subsidizing their auto industries Plus worldwide oil subsidies hit 7 trillion in 2023 If they don’t have an auto industry then their clean, green, renewable etc etc etc It’s just the Chinese are doing it on a massive scale Maybe you want your grandkids to go back to the cart and horse 50 years from now Because worldwide oil reserves are projected to last 50 years. And there ain’t looking to be any better options right now While worldwide Rare Earths deposits are expected to last 400 years. China just found another new RareEarth deposit expected to last 120 more years on top of that Plus when it comes to lithium and Nickel. China can replace the mining of those minerals through recycling within 25 years 👇 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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  30.  @Rockiii9  where are you getting your info the 1980s? even these last few years as China has invested a few trillion (hidden loans included) in their belt and road partner countries China exports are up 7.1% for the first few months of 2024 And it still averages about 820 billion plus dollar a year trade surplus with the world the last 2 years Even though their Central Government is cracking down in real estate speculation Slowing down the economy? The Chinese people still added 2.6 trillion to their savings in 2022 And 1.8 trillion to their savings for first 10 months of 2023. (An increase of 8.5%) But with no other viable investment options left these days The Chinese Government is actually pushing their people away from investing in real estate, and to invest in technology/industries instead This is where China leads the world in 37 of the 44 critical technologies of the future already As they will pile even more money into these future technologies My prediction is the Chinese Government will have to step in and regulate yet another overheated sector (technology) in the future Where Blinken,Yellen & their successors will have to keep going to China to beg them not to dump their cheap high tech onto the rest of world Most people have no clue what’s coming, as they supercharge their exports with their new innovative high tech products 👇 Chinese Consumers Are Saving Rather Than Spending Amid Economic Downturn Dec 21, 2023 — Chinese households have added 13.8 trillion yuan ($1.89 trillion) The middle class is also prioritizing savings and seeking safe investment opportunities, according to the report. Chinese households have added 13.8 trillion yuan ($1.89 trillion) in savings in the first 10 months of the year, an 8.5% increase from the previous year. Pymnts
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  35.  @taylorc2542  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 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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  37.  @taylorc2542  The western multinationals went to China at the time because of their weak labour laws, weak environmental laws, mass pool of cheap labour they could pay dollar a day wages to And yes weak IP laws that went along with it In exchange the western multinationals traded knowledge and investment This was nothing new, the west goes to 3rd world or developing nation takes advantages of this country until the locals complain about wages, pollution, or environmental damages. Western multinationals pick up and run for it. I would argue yes they expected the Chinese to buy 1 billion toothbrushes and 2 billion socks But they didn’t expect them to enrich themselves My evidence is even before the west pushed for Chinese WTO inclusion the Top of the food chain 1%ters and their TooBigTooFail Investment Banks worked out the worst deal ever for themselves Where these TooBigTooFail Investments Banks got a 33% interest in a “Joint Venture Chinese Investment Banking Subsidiary.” Where the Chinese Bank got a 67% Difference is the Chinese didn’t complain they put up with those dollar a day wages making 22 times less than what an average American worker made. Yet saved 30% of those wages over 30 plus years. Indirectly loaning those saving to those Americans so they could spend their savings and borrow to spend some more. While the Chinese invested or made a business with their savings Where the Chinese lowered their standards of living while the Americans were able to raise their standards of living with those cheaper goods If anything the Chinese were dragging their feet on the TRIPS agreement under the WTO….specifically regarding developing countries 👇 Developing countries’ transition periods Provisions for developing countries, economies in transition from central planning, and least-developed countries Developing countries and economies in transition from central planning did not have to apply most provisions of the TRIPS Agreement until 1 January 2000. The provisions they did have to apply deal with non-discrimination. Article 65.2 and 65.3 Least-developed countries were given until 1 January 2006. Article 66.1. Members have agreed to extend the deadline to 1 July 2034, or to the date a country is no longer “least-developed”, if that is earlier. Pursuant to the Doha Declaration on TRIPS and Public Health, a separate transition period exists for pharmaceutical patents, which currently runs until 1 January 2033. WTO
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  41.  @PelleGIT  (Because we the average westerner is too lazy to read past a headline) Go read just the recent headlines from Western Mainstream Media On Elon Musk’s Tesla trip to China (before you read the rest of this) Reading only those headlines You would get the impression, Tesla is introducing FSD and Robotaxis into the Chinese domestic market When Baidu the company the Chinese Government partnered Tesla with???? As of Q3 2022 has already done 1.4 million paid robotaxi rides As of Q3 2023 4.1 million paid robotaxi rides you really have to dig into multiple western media articles to gleen this real information… rather than Tesla is going there to introduce robotaxis 👇 Baidu starts offering nighttime driverless taxis December 26, 2022 Starting this week, the public can ride its robotaxis in Wuhan between 7 am and 11 pm without safety drivers behind the wheel. Previously, its unmanned vehicles could only operate from 9 am to 5 pm in the city. The updated scheme is expected to cover one million customers in certain areas of Wuhan, a city of more than 10 million people. Like most autonomous vehicle startups, Baidu combines a mix of third-party cameras, radar and lidar to help its cars see better in low-visibility conditions, in contrast to Tesla’s vision-based solution. In August, Baidu started offering fully driverless robotaxi rides, charging passengers at taxi rates. In Q3, Apollo Go, the firm’s robotaxi hailing app, completed more than 474,000 rides, up 311% year over year. Accumulatively, Apollo Go had exceeded 1.4 million orders as of Q3. TC
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  42.  @PelleGIT  Apparently Musk went to China to get that Chinese FSD data stored over there by Tesla since 2021 The Chinese probably said no we can’t allow that Chinese data to go to the USA so you can type up some algorithms But we will allow you to team up with Baidu who are already way ahead of you anyways This will help you compete in China vs Chinese EV makers Right now Tesla is level 2 Autonomous Baidu is level 4 Autonomous This should be no surprise to you China saved Tesla back in 2019 when it had production issues and gave it the biggest EV market in the world I remember because I was calculating monthly cash burn rates at the time 👇 Elon Musk revealed on Twitter Tuesday that Tesla was one month away from bankruptcy during the 2017-2019 ramp of Model 3 production. Nov 4, 2020 Foxbusiness 👇 How Elon Musk Built a Tesla Factory in China in Less Than a Year Elon Musk presided over a ceremony at a new multibillion-dollar plant near Shanghai—its first outside the U.S.—where Tesla handed over the first China-made Model 3 sedans to the public Musk’s charm offensive in China has appeared to pay off. Originally just a muddy plot about a 90-minute drive away from Shanghai’s city center, the China plant has quickly come online since it broke ground at the start of 2019. It took twice as long for Tesla’s Gigafactory near Reno, Nevada to begin churning out batteries. Back in China, Tesla has been winning various concessions from local authorities ranging from approvals to preferential loans — all the more notable given the trade war with the U.S. Fortune
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  48.  @chrissmith2114  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 👇 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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