Comments by "Vale Tudo" (@valetudo1569) on "Fortunes shifting for Beijing and Delhi as 2024 nears | DW News" video.

Economist Michael Pettis said this would happen. As China shifts its investment from real estate into manufacturing in a desperate attempt to keep its economic model going - countries are going to be unwilling to absorb additional exports from China at the cost of their own industries, which have already been hollowed out from China's subsidies
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@stunstar4553 Income has grown much much smaller than GDP growth - and that is the problem. That is why consumption is so low, Chinese households retain a smaller share of GDP in the form of wages relative to other countries at its development stage. Most of that GDP, especially in the last decade, is not retained by the people. It's the reason why GDP growth will probably be 5% this year yet the stock market is down and earnings per share is what it was 10 years ago. China makes nice GDP numbers by building unproductive assets, such as: bridges to nowhere, ghost cities, and rails that actually lose money. These produce nice GDP numbers but do little to improve peoples lives or put money in their pocket. China's economic model is also coming to an end. Debt capacity is close and it's likely they'll follow Japan's path of stagnation.
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@peacelover2008 So this is false. Its expensive to move from China to America and its actually the people that have money that do it. After the Covid lockdowns - the lines to get US visas were literally out the door. Chinese immigration to the US is still quite high and increased substantially after Covid. Chinese illegal immigration is also at a record high. None of this stuff you're saying is based on fact. US also has a large Chinese population and on average they make a ton of money compared to almost every other minority group. So all of this nonsense and they went to US and moved back after seeing the real US - is a bunch of bs. Chinese people flourish in the US system, hence why so many rich Chinese make sure their kids have US & other foreign passports.
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@stunstar4553 Chinese people's income have grown a lot in the last 30 years - but have not kept up with GDP growth. Much of the wealth generated from the GDP is retained by the government and much more so than other countries at China's development level. I also reject the common misconception that Chinese people have low consumption due to mere frugality. Low household income + lack of a social safety net (ie unemployment benefits, low pensions, Hukou system preventing people from getting benefits where they live, etc) causes them to save a high amount of their income for bad times. Gen Z may have higher consumption, but a lot of that is due to them still living with parents or having family support in some way. Their incomes are still quite low relative to cost of living...ie they still need a lot of help to buy their own home and start a family. If without family support and single or even with just a spouse - their consumption will fall like all others
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