Comments by "Patrick T" (@patrickt49) on "Can China still become the world’s largest economy? | Business Beyond" video.

@tomlxyz Chinese people only believe in real estate because it's something they can see. If you try talking to the Chinese about investing in mutual funds, for example, they would see it as gambling. Trust me, speaking from experience here. In that case, they would much rather go to the casino and physically gamble their money then learn about how money works.
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Everything hinges on the American economy. China is where it is because of foreign investment. As they agitate the world, this will become an issue as companies move to countries like Vietnam or India to continue production. There's a reason why having China in your investment portfolio is considered risky. It's because growth is volatile. It's not guaranteed.
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It's not just population size, it's also what you produce. What is China producing that will catapult its GDP past the US? You don't get there by manufacturing cheap items.
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@luistotoro The typical American makes 6 times more than the typical Chinese. That should already clue you in. The American economy is not only more productive, but it's also more efficient in producing high-value items. The only "high-value" items China produces are ones created by multinational companies and those components are shipped from elsewhere. All the Chinese do is assemble those things, which isn't hard to export since you can teach people in Vietnam and India to do those things as examples.
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@JoelSalazarM They're already in the middle income trap. They can't manufacture high end things and they can't manufacture lower end items because they are no longer the cheapest in labor.
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@sandponics Please give us something that the US stole tech-wise.
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What they are speaking about has literally been what's happening in China and the decision behind the CCP's domestic policy. It's no secret.
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"It just need the stable and approviate govermental policy to release the creativity energy of the people." - And how exactly is China doing in that front? What with government crackdowns and changes in policy that hurt businesses?
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There is no such thing as equal distribution of wealth if you want to adopt capitalist fundamentals. There are always going to be people with more and people with less. Your statement contradicts itself. Also, the problem of whose economy is larger is the problem of China because you have a government that has propped itself up with nationalism but fails in its lack of policy. The US doesn't have these issues but China does.
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@siewkonsum7291 Before you get all defensive, they have a point. "GDP figures are "man-made" and therefore unreliable, Li said. When evaluating Liaoning's economy, he focuses on three figures: 1. Electricity consumption, which was up 10 percent in Liaoning's last year 2. Volume of rail cargo, which is fairly accurate because fees are charged for each unit of weight; and 3. Amount of loans disbursed, which also tends to be accurate given the interest fees charged. By looking at these three figures, Li said he can measure with relative accuracy the speed of economic growth. All other figures, especially GDP statistics, are "for reference only," he said smiling. - Li Keqiang (Former Premier of China) - And that's from your government who themselves don't know what the actual GDP numbers are.
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Lol, if you're talking about the Chinese government, they could care less about people. It's all about fanning their over-inflated egos. They don't care about other countries let alone other Asian countries.
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"A people who show surprising sensitivity of feeling and at the same time appall us with their seeming crudity of instinct, accomplished in craftsmanship yet living ever in houses falling to pieces, alert in business yet unable to make a success or large business themselves, quoting proverbs about truth in every breath and not to be believed in anything, always exasperating us and then mollifying our exasperation with a talent all their own, always busy and never getting anything done - four hundred million of them, upon a background of green paddies seen through slow rain, swirling yellow rivers with bobbing junks and rattan sails, above and through all the smell of a damp moldiness amid spiced cooking - that is China and the Chinese." - "Ways that are dark: The truth about China" - Ralph Townsend (Former US consul who lived in 1930s China)
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Or you could just help other countries out and not be so keen on helping a murderous government get ahead. Are you really just out of options?
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@awjames1121 Laughing to the bank? A lot of Chinese with loads of cash doesn't go to the bank. Government officials smuggle their money in and they literally pay in bags of cash because they don't want other governments to find out about it. Also, governments like Canada are putting a curb to speculative foreign investments that are inflating housing prices, I'm pretty sure the US is going to do the same thing if it hasn't already.
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Who is going to implement robots? Do you mean multinational companies? To automate is very expensive and it's not as simple as just setting up automatons, you have to constantly program them and modify their programming to suit whatever you are producing. You now need tech specialists to constantly maintain and look after them and who right now has the monopoly over high-quality chips? It's the US, Japan, South Korea, and Taiwan. So China is screwed on that front too. And them agitating and pissing everyone off isn't going to help their cause.
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