A nice article about the problems that China is having. Exports are down three months in a row, and imports are down five in a row. Deflation is a scary concept because people stop buying, since goods will be cheaper in the future. And that only causes the economy to get worse. China’s Stalling Economy Puts the World on Notice
China makes a major revision to its March export numbers, demonstrating why information from a communist government cannot be trusted. Apparently, provincial governments were telling the central government what it wanted to hear (or what numbers were mandated from the central government). Exporters can get tax rebates if they "cook up" trade numbers. I don't know if I would trust the new numbers. China revised down March exports by unexpectedly large margin, economists say
Interesting WSJ article about how US and China are decreasingly doing business, as a percentage of our total GDP. From the article: A deepening confrontation between the U.S. and China is eroding trade ties between the world’s two largest economies, with goods from China accounting for the smallest percentage of U.S. imports in 20 years. Instead, buyers are turning to Mexico, Europe and other parts of Asia for wares ranging from computer chips and smartphones to clothing, according to a Wall Street Journal analysis of trade data released this week by the Census Bureau. China accounted for 13.3% of U.S. goods imports during the first six months of this year, below a peak of 21.6% for all of 2017. The current level is the lowest since 12.1% for the year in 2003, two years after China’s accession to the World Trade Organization. How U.S. and China Are Breaking Up, in Charts Subscription required, FYI.
Total number of U.S. immigrants in China: peaked at 110,000 in 2005. Assuming that the majority of these immigrants were there for a multi-year job assignment and would eventually return, and that the immigration occurred over a couple decades, the average immigration rate from the U.S. to China is about 2500/yr. The true number is probably much less than that. Americans in China - Wikipedia Number of Chinese who immigrated to the U.S. in 2019 (before Covid): 2,500,000. Chinese Immigrants in the United States So the immigration rate is at least 1,000:1 in favor of Chinese coming here vs. Americans going there. Looks like the American dream is a lot more appealing than the Chinese dream.
Faulty comparison as China is a highly homogenous society. How is the reverse working out for America ?
Very well, actually. We have the most inventions in the world in the last 150 years, with many inventions created by immigrants. And we also have the strongest economy in the world, so we must be doing something right. And we have some of the greatest freedoms of any country on earth. And there is nothing faulty about the comparison. Whether a country is homogeneous or diverse has little or no bearing on whether people want to immigrate from one country to another. People look at their opportunities and freedoms in another country versus their opportunities and freedoms in their own country when deciding to immigrate. I'm going to rate your statement as a faulty evaluation.
And China is fast closing on the U.S. and racing apart it in certain regards. So you can curse the darkness or welcome or even praise (horrors!) the competition.
Immigrants flocking to America because they hear the shopping is good here … https://x.com/cernovich/status/1690595388187914240?s=61
Wrong. China's repression of their citizens is one of the main reasons that Chinese women today don't want to have any children. Political repression was generally mild before Covid (as long as you didn't voice your opinions openly), but Chairman Xi has taken things to a new level, first with the iron-fisted response to Covid, and now in the ramp up towards war with Taiwan. Add in the fact that their economy is in the toilet, and their problems are fundamentally related to excessive government control over industry, and their future looks dim, at least until Chairman Xi, who now has the job for life, is replaced. Meanwhile, the U.S. is going through a fairly mild recession. If you are convinced that China is fast closing in on the U.S. standard of living (or freedom), why don't you provide some recently-published and respected articles that indicate why that is supportable, and not just juvenile photographs of localized opulence, which indicate nothing (Jakarta and Kuala Lumpur have scenes of opulence, yet are not world economic leaders "closing on the U.S.". China leads the U.S. in espionage, technology theft, and destruction of wildlife. Not really something to praise.
You can’t beat the US for entrepreneurial spirit though. All the stores have closed in San Francisco. But some storefronts have converted to fentanyl distribution centers … https://x.com/stillgray/status/1690805250373070848?s=61
Good comprehensive listen on China generally in the US China relationship, primarily through an economic lens China's Economic Crisis - Ones and Tooze
We need to learn to get along with our emerging rivals rather than gird for war against them … https://x.com/godfreetrh/status/1690864408564736000?s=61
But it makes good propaganda, so he can tarnish all Americans with it. It makes him feel heroic, even though deep down he realizes that he is a small-minded troll. He is trying to get a reaction out of you. Don't give him the satisfaction.
China's shadow bank bites the dust: a $138 billion failure. If you can't trust your local Zhongrong International Trust, who can you trust? Looks like Chinese regulators finally coralled it after trying for six years. Contagion at 11:00. China’s $138 Billion Shadow Bank Spirals at Terrible Time for Xi
