Comments by "D W" (@DW-op7ly) on "China’s Car exports skyrocket as Electrified cars approach 50% market share" video.
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@stefan2796 what people in the west probably do care about is affordability
O wait
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U.S. raises tariffs significantly on EVs, other goods from China
Tariffs, to be phased in over next 3 years, include on EVs, solar cells, steel, aluminum
The Associated Press
Posted: May 14, 2024
Under the findings of a four-year review on trade with China, the tax rate on imported Chinese EVs is to rise to 102.5 per cent this year, up from total levels of 27.5 per cent. The review was undertaken under Section 301 of the Trade Act of 1974, which allows the government to retaliate against trade practices deemed in violation of global standards.
AP
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(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
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????
Has already done 1.4 million paid robotaxis rides since 2022
you really have to dig into multiple western media articles to gleen this real information… rather than Tesla is going there to introduce robotaxis
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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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@nobodyli6543
(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
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????
Has already done 1.4 million paid robotaxis rides since 2022
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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@bobwallace9753
(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
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????
Has already done 1.4 million paid robotaxis rides since 2022
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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@seanlander9321
The difference is this 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
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
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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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@stefan2796
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
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Business
Economics
China Increases Banks’ Reserve Ratios to Cool Prices
By Bloomberg News
December 10, 2010 at 4:08 AM PST
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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
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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.
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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.
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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.
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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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