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

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  6. ⁠ China Government has already state there should be a consolidation From my understanding in most countries 95% of businesses fail Why should it be any different in China? ​​⁠here in the west we hear only one Chinese EV company is making money right now? They will give up,because that is how we think and what we will do in that situation That’s the mistake we westerners make But the reality is that’s not how they think That is born out of study after study 👇 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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  8.  @PelleGIT you have no clue what’s happening over there 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 That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers. Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate. Even then, It took them almost 14 years to get their overheated real estate under control Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018 Why is their Central Government doing this? Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen. Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need In China Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married Thus the common prosperity push and the crackdown on the overt displays of wealth in China Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
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  9.  @PelleGIT  Anyways with their engineered slowdown (or else70% of the people in their city real estate markets would be buying their 3rd 4th or 5th homes right about now…. as a few hundred million rural migrants can’t find an affordable home as they migrate to the cities) 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 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. (What’s 4 houses vs 5) 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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  18.  @calc1657  yea but it was China that saved Tesla from going under 5 years ago. No Amount of US support was going to fix production and EV market to sell into Until the Shanghai Gigafactory came online within a year. And Tesla got handed the largest EV market in the world I clearly remember because…. That’s when everyone was calculating their monthly cash burn rate Plus even in 2022 there were still production issues in the USA 👇 Tesla was 'about a month' from bankruptcy during key period, Musk says Model 3 ramp pushed the electric car maker to the limit 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 👇 Tesla Sends Shanghai Workers to California for Factory Boost Bloomberg 👇 Elon Musk Brings Tesla’s China Chief to Texas to Run Gigafactory Bloomberg News, Bloomberg News Dec 8, 2022
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  20.  @PelleGIT  I wouldn’t expect any EV company to be making money right now The Chinese are doing what they did in the Solar Panels to the world Only difference the competition is in China ….and this winner take all survival game is on steroids over there Do not mistakenly attribute our western thinking onto the way they think Their goal is clean, green, renewable etc future Nothing will change that 👇 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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  21.  @PelleGIT  ​​⁠here in the west we hear only one Chinese EV company is making money right now? They will give up,because that is how we think and what we will do in that situation That’s the mistake we westerners make But the reality is that’s not how they think That is born out of study after study 👇 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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