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

  1.  @mauriceharting5877 China is still a developing country the are following the rules at best bending them 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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  5.  @waynegnarlie1  On 1 July 2018, China slashed the import tariff rates of daily consumer goods involving 1,449 tariff lines. The term ‘daily consumer goods’ covers eight categories of product: food; apparel, footwear and headwear; furniture and houseware; sundry grocery items; cultural, sports and entertainment supplies, home electronics; daily chemical products; and medical and health products. The average tariff rates of the goods involved have been reduced from 15.7% to 6.9%, a reduction of 55.9%. Among these, the average import tariffs for apparel, footwear, headwear, kitchenware and fitness products have been reduced from 15.9% to 7.1%. For home appliances, such as washing machines and refrigerators, the reduction was from 20.5% to 8.0%. For processed food, the rates were cut from 15.2% to 6.9%. The average tariff rates for detergents, cosmetics, such as skincare and haircare products, and some medicine and health products have fallen from 8.4% to 2.9%. This is the fifth time that China has lowered import tariffs for consumer goods in recent years. In November 2018, China reduced the import tariffs on 1,585 taxable items, including industrial goods. The average tariff rate for high demand mechanical and electrical equipment, such as construction machinery, instruments and meters, was lowered from 12.2% to 8.8%. For textiles and building materials, the average tariff rate was cut from 11.5% to 8.4%, while that for certain resource goods, such as paper products, as well as primary goods fell from 6.6% to 5.4%. ResearchHKTDC
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  6.  @TheBooban  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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  12.  @lordofsevenrealms  Wasn’t to long ago we were complaining about China being the worlds biggest polluter Now as they invest in Green, Clean, Renewables etc. etc? We cry overproduction and they subsidize this or that 🙄🙄🙄🙄 They are actually spending the money and making those changes What are our western Governments doing since we are the ones most vocal about climate change and China being the worlds biggest polluter ??? 👇 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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  34. If China booted out those US companies that would crash the US economy 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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  40. That’s because 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 has a 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 have added 2.6 trillion to their savings in 2022 And 1.8 trillion to their savings for first 10 months of 2023 But with no other viable investment options left these days Their Government is actually pushing their people to invest in technology/industries instead Where China already leads the world in 37 of the 44 critical technologies of the future already As they pile even more money into these 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 Btw that’s how innovation and competition works over 90% of inventions never get used and over 90% of businesses fail 👇 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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