T O P
[deleted]

[удалено]


trabe_lazy

On Monday, Wednesday and Friday, China’s economy is collapsing. On Tuesday, Thursday and Saturday, China is being the biggest threat to world democracy.


shamarelica

Any day now three gorges dam will fall and their economy will follow. I keep reading that on reddit for a decade now.


[deleted]

[удалено]


cookingboy

It's astonishing how some people who are obviously racist and xenophobic but tried to hide their hatred behind some moral shield because the Chinese government is bad. I've seen *many* people saying something to the effect of wishing China gets sanctioned/embargoed/punished back into the stone age because the CCP is a major human rights violator. So yeah, we should protect Chinese people's human rights by sending them "back into the stone age" /s One other guy (on an investing sub out of all place) literally said we should nuke China and turn everyone into glass because "they aren't a real country and is a plague on humanity". Yep, he literally wrote off 1.4 billion people as even humans. Yet in a follow up comment he tried to make himself sound justified by saying he's only looking out for Chinese people's human rights lmao. Honestly, the amount of anti-Chinese genocidal fetish on Reddit is pretty disgusting.


[deleted]

[удалено]


Jamochathunder

Ah yes, the good old "one government isn't the bad guy because the other one is". Just like two drug lords, just because one murders people in broad daylight doesn't mean that the other one isn't "the bad guy"


[deleted]

[удалено]


Circumcision-is-bad

Calling out a problem so it gets addressed is not the same as being the source of the problem


WeilaiHope

There is no problem with the dam, it is just some weird Western fantasy that it's about to collapse for some reason.


RainbeeL

Dreaming of a problem you mean?


Pklnt

You forgot the part where the HK police, infiltrated by Chinese forces is about to storm the university and slaughter all the protesters !


[deleted]

[удалено]


[deleted]

[удалено]


Selflnsert

30 years? America can't even get a bill passed to fix the roads it built a hundred years ago, and yet so many americans, canadians brits australians are so worried about what china's up to Just looking from canada, why is canada perusing a china strategy? We have no jobs, the entire economy is built around boomers hoarding houses, blackrock, an american neo colonial mega corporation is looking to buy up canadian housing to turn into modern day fiefs, what the fuck are you talking about china for? What does china have to do with us having some of the highest cost of living on the planet with shit wages on top? Oh right, it doesn't, but it sure helps to distract the plebs by pointing at china from the fact that anglo politicians have failed their countries for decades now and everything is coming to a boiling point


Ares__

>30 years? America can't even get a bill passed to fix the roads it built a hundred years ago Everyone should stop reading your comment right there. The physical infrastructure bill was passed. But sure keep going off when you clearly don't actually know what you're saying. Murica bad China good.


Selflnsert

Yeah, a pittance of what the original bill actually was Does it change the fact that the biden presidency is effectively over because of 2 openly corrupt senators?


CHECK_SHOVE_TURN

Imagine thinking those in china have it better than americans lmfao It's literally an authoritarian hellhole woth no freedom. And I'm not saying america is particularly free. But compared to China it's a damn bastion lmao


WeilaiHope

I literally live in China (been stuck back in the UK for a bit now) and that's total shit, the typical crap you brainwashed people who've never been out of town spout. How do you even define freedom anyway? The right to own a gun and join the nazi party? What about freedom from crushing medical debt, ridiculous student loans, or extreme rent prices, or how about just not get murdered at school or for going jogging?


ShanghaiCycle

> or how about just not get murdered at school or for going jogging? As an Irish person in China, this hits hardest. I want my gf to have a life in Ireland as good as we do in Shanghai, but walking around at night as a woman in China is so much easier than anywhere in the world.


ZepperV2

I mean you gotta cope somehow. We've never seen something like this before.


Lolkac

China is doing it on debt. Biden would be lynched if he increased debt to gdp by 23% in a year to 270% of gdp


connorUSD

The United States debt situation is far worse. Chinese government owns a lot of assets. Net debt is much lower than the United States. Same is true for Japan - about 100% net, compared to 130% in US.


SpaceHub

The 270% figure is all debt owned by all people/companies/government in China. The Chinese government only owes 50% of GDP, in contrast to 120% of GDP that federal debt in the US size to.


FluffyCummer

Any day now. After that Xi the Pooh will resign and be taken to the Hague to stand trial while the Chinese people will celebrate by eating *freedom*burgers in Tannamen Square.


MikeinDundee

Almost like all these “Experts “ don’t know what they’re talking about. China just seems to be getting stronger and stronger. And with the housing market, the CCP will help out the buyers and contractors, and leave foreign investment holding the worthless bonds.


eggshellcracking

Economists have predicted 200 of the last 3 economic collapses.


TrickData6824

The problem is that the experts that don't fall in line with the "China bad" narrative won't get upvoted by (the predominantly American) redditors. There is a reason [garbage websites like Taiwannews](https://old.reddit.com/r/taiwan/comments/ggiss9/unpopular_opinion_taiwannewscomtw_isnt_a_good/) get upvoted here. The other problem is that news orgs know talking about "China collapsing" gets them more views.


PHalfpipe

It's become a cottage industry. Like how Gordon Chang spent more than 20 years releasing books and articles predicting that China will collapse within a year.


TrumpDesWillens

Gotta hand it to him for winning capitalism by milking his book to become a millionaire.


TrickData6824

What's ridiculous is that Gordon Chang has been wrong on practically every prediction he has made yet for some reason he is still given an audience with US lawmakers, military, intelligence officers and even the US public (via the many public interview opportunities Fox gives him). The guy is not only *incredibly* biased but also incredibly wrong on everything yet he is being given a platform to influence US policy makers with bad advice. I would think this is some brilliant 4D chess move by the CCP but I know its more than likely that he is being peddled around by neo-cons and weapon manufacturers to their benefit.


Selflnsert

I mean it pays to be a dog Reddit loves tiananmen square, do they know where a bunch of the ring leaders of the protests are today? They're not dead. They're in america, sucking on the neo con chickenhawk teat, the good chinese face to go with the good american talking points.


MWU123

Just goes to show just cause someone reported some, said something or predicted something that alot of people liked, does not make that true. Whowouldhaveguessedit!


Lolkac

Its not that simple. China is growing on debt. They increase their debt to gdp by 23% this year alone. China is in no position to bailing out everyone. They have problems with housing market, local government, banking sector, low demand, stagnating wages.


eggshellcracking

That's no different from the amount western economies increased their debt to gdp ratio by


MyHandIsMadeUpOfMe

"Western people thought"


immakantuakant

Governments of the western world bankrolled the people who went on to bail out China. Stimulus went straight to consumer manufacturing as governments licked their lips at their hard work marginally stimulating the local economy.


whorseses

And you also believe in Santa and fox news, right?


Zestyclose-Ad-6213

Santa is real


WeilaiHope

It's sarcasm


peachybuttcheek

Trade surplus does not equal “strong economy”. Just like “trade defficit” is not the same as “weak economy”, contrary to what Trump might have thought.


DherynNehyr

Anyone cannot stop them anymore. The world needs China for supply chain and China needs world. So, no side can afford to lose each other. They already surpassed USA in the terms of real GDP in 2017 and they expected to surpass USA in terms of nominal GDP in this decade too. They growing insanely each year. Their trade is growing and its balance is excellent too. Once they become energy independent with renewables, electricity cars etc. they will be literal giant with their 1.45 billion population.


Amatorius

Demographics wills slow growth at some point. And you don't have to be an expert to realize that.


DherynNehyr

I didn’t act like I’m expert.


BobLonghorn

Top tier Novice for sure though.


count_dummy

Supply chain is and will keep moving away from China Rich population are not content with those type of jobs. Demographics look really, really bad for China. Massive population drop will happen overtime and they don't have much immigration so. The next power on the rise will be India but they also have a lot of problems that will eventually have them in a similar situation. It's not that China will become irrelevant, it's just that reality doesn't bend to the will of the CCP and the things they have been relying on to rise will catch up to them.


DherynNehyr

Everyone say their demographics are bad but now their % of 65+ population is 12% while US’ 16% and EU’s 20%. Yes, China will aging but in the same time these two too, more or less, but that’s not that much different to make much difference. They’ve 20 more years to catch % of 65+ population of EU’s. And it doesn’t matter because they’ve 1.45 BILLION people. Let’s say that will reduce to 1.3 BILLION after 30-50 years. They’re still giants.


timelyparadox

The issue is that china has big gender inbalance in population which is responsable for next decades births and that will make their demographic problems worse than US or EU


DherynNehyr

I mean, I accept the fact that they will aging LIKE EU and USA, but they still have 25 years to become SLIGHTLY more disavantaged side.


Lolkac

Surplus is because ccp is focusing on supply side of things instead of demand side. Surplus will continue to be strong but internal economy will suffer. China has a lot of challenges ahead of them and they will stop growing at the end of them. It will just take time and won't be sudden like everyone here saying.


notbatmanyet

Yup. Chinese export surplus is largely due to domestic wage supression, which both reduce imports and increase exports. Without reducing the export surplus, chinese GDP cannot grow so much more from exports because the rest of the world cannot absorb much more excess exports. Indeed, China is not the only one with this problem. Korea, Japan and Germany are others who are limited in growth because of low consumption and low consumption power. Countries need to stop treating export surplus as something good.


defenestrate_urself

Exports as part of China's GDP is steadly decreasing for the past 15 years. In the last decade it has gone from 26% of GDP to the current 17% as China pushes domestic trade as the target for growth. https://tradingeconomics.com/china/exports-of-goods-and-services-percent-of-gdp-wb-data.html > Chinese export surplus is largely due to domestic wage supression, The average Chinese wages have more than doubled in the span of ten years from 42K rmb to 97k rmb. https://tradingeconomics.com/china/wages What China competes now in terms of manufacture, low cost wages are not the prime advantage (you find lower wages with China's neighbours) What they do have is advatanges in logistics and production scalability.


justaguy891

100 billion less than the united states spends on its military.


Marmar79

So, almost a fifth of America’s budget. In trade surplus.


justaguy891

would it be more? since the military accounts for 50% of the USA's budget.


An-Angel-Named-Billy

No, the 2021 federal budget was $6.8 trillion. Defense spending was $750 billion. Not even close to half the total budget.


[deleted]

[удалено]


VerticalYea

Well. Roads and stuff.


[deleted]

[удалено]


VerticalYea

Where do you live? The work I do on government contracts has pretty strict prevailing wage restrictions.


[deleted]

[удалено]


VerticalYea

That wasn't the point of the question. Do they not do prevailing wage requirements in government contracts where you live? I assumed that was a federal stipulation.


Syenite

Construction workers and tradesmen get compensated well.


justaguy891

semantics are important here. youre right, not the entire fed budget, but for In fiscal year 2015, military spending is projected to account for 54 percent of all **federal discretionary spending**, a total of $598.5 billion. ​ [https://www.nationalpriorities.org/campaigns/military-spending-united-states/](https://www.nationalpriorities.org/campaigns/military-spending-united-states/) also All told, the U.S. military budget in 2019 exceeded the next 10 countries’ defense budgets combined and singlehandedly accounted for a hefty 38 percent of military spending worldwide. [https://www.scientificamerican.com/article/its-time-to-rein-in-inflated-military-budgets/](https://www.scientificamerican.com/article/its-time-to-rein-in-inflated-military-budgets/)


bannacct56

But that defense spending number does not include the wars that is kept track of separately and I think in 2021 it was around $350 billion. The military is costing us north of a trillion nowadays


Marmar79

My understanding is it’s roughly 20% of the budget but I could be wrong.


MewMewMew1234

Ok...But it goes into the void that is China. The whole point of trade surplus is a wealthy market to sell into and get money back out. China doesn't do that.


Marmar79

What does China do? Define void. I can’t believe some people on here really believe nothing is real.


south_garden

looks like leddit's boycott movement is doing well


Militaryrankings

China is becoming more and more integrated with the world economy and becoming a prosperous society.... Yeah but at what cost...?


Marmar79

Depends who you are.


Simian2

The highest ever recorded for any country. #BoycottChina going just as well as #BDS.


noxaeternumi

Even India has a tough time trying to boycott China. [India-China trade grows to record $125 billion in 2021 despite tensions in eastern Ladakh](https://economictimes.indiatimes.com/news/economy/foreign-trade/india-china-trade-grows-to-record-125-billion-in-2021-despite-tensions-in-eastern-ladakh/articleshow/88900383.cms)


johnbmaclemore

But like we need stuff and they’re the only ones that make it.


Selflnsert

Reddit's power in a nutshell Hey anybody still buying that shitty australian wine? Or did any of you ever bought any? Are the china watchers even old enough to consume alcohol?


ShanghaiCycle

Kazakhstan was close to a potential civil war and a thread on /r/worldnews about Taiwan sending fucking fruit to Singapore got 35k upvotes. Same week that le Reddit army talked about how great Lithuanian rum is.


roionsteroids

>Are the china watchers even old enough to consume alcohol? 16? oh wait nvm wrong country


PHalfpipe

Turns out that it's a bad idea to dismantle your own industrial base and send your productive forces overseas.


TrickData6824

It's been happening since the 70s with the whole [Japan bashing](https://benbansal.me/wp-content/uploads/2015/12/japan_covers.jpg) and Japan-American trade war. Manufacturing will always go abroad because making things in the US (in the vast majority of cases) makes an uncompetitively priced good in the world market.


European_Unity

Perhaps the world market is a bad idea. It ends up with humanitarian and ecological disasters never seen before.


Selflnsert

Is your name suppose to be ironic given what you just said


European_Unity

No? There is a severe difference between trading on one continuous landmass and using ridiculous container ships to send things from Africa to China to Europe. The international trade is a huge detriment to human development, because it gives political leverage to leaders that willingly exploit their people for profit. Either way, nothing will change any time soon and we will miss all our ecological goals as well, because nobody is interested in change.


thenchen

>The international trade is a huge detriment to human development Dumbest shit I've read so far this year


Lehsyrus

Oh man keep scrolling, there's more dumb shit here not just by him.


xyq071812

Huge Detriment to human development how? How many people were lifted out of poverty in China alone in the past few decades because of globalization? The majority of the developing world are having a higher quality of life compared to the pre-globalization Era. Globalization is what makes the cake bigger. There will always be exploitation with or without globalization. But with a bigger cake the exploited can have a better life and better opportunities.


zsydeepsky

finally, someone realized that what truly important are technological & industrial advancements instead of the magical word "capitalism"!


Skrong

Turns out that needed to happen because of the falling rate of profit which turns out is what happens when you do a Capitalism. Aww darnnit


Lolkac

The us does not need to manufacture buttons to be world power


evilryry

It turns out that when you give people money they mostly spend it on stupid shit from China. Consumer demand is through the roof.


Imaginary-Top9382

Westerners don't produce their own shit, and it benefits CPC.


BILLCLINTONMASK

It's almost like pursuing a zero covid strategy might have been beneficial for western countries' economies


NoAioli4630

Will never happen in the western countries.


Tidorith

New Zealand isn't explicitly pursuing a zero-covid strategy (this framing was abandoned after a delta outbreak), but we were. Ironically, with omicron still not spreading inside the country, we're currently on track to eliminate delta anyway. The effective reproductive rate has been below 1 for weeks now. Of course, when omicron gets in that's likely to change - elimination probably wouldn't be possible without significantly increasing restrictions again and/or having lockdowns. But it's not true a western country would never pursue a zero covid strategy. Both Australia and New Zealand were doing it for quite a while.


fieldofvision_

New Zealand is a tiny island with 4 or 5 people on it. (And Australia is a sparsely populated island with 6 or 7 people on it)


Tidorith

They're islands with major urban centers though, urban centers that had outbreaks, and urban centers are the places where it is most difficult to control the spread of a disease. New Zealand and Australia are both *more* urbanised than say, the US, not less - so by that consideration it should have been easier for the US to control it. It doesn't ultimately matter how much empty land or empty water surrounds populations of people, what matters is how close those people are to each other. Being an island does make policing the borders somewhat more straightforward, but this is only true to a meaningful extent when countries with land borders make a political choice not to control them. The US land borders with Canada and Mexico, for example, were not a reason the US did not or could not control the pandemic. It would have a been a bigger factor in European countries with open borders, but they never made a serious effort at elimination so we don't know what would have been feasible. Either way, the decision to have open borders and not have a ready mechanism for closing them in a pandemic is still a political decision that countries make, or one that they do not make. Successful control of a pandemic is largely a political question. It's why New Zealand and Australia (with similar politics and culture to each other, even if their political systems are somewhat different) succeeded for a long time but the UK - also an island nation - failed immediately. Why China and Vietnam (similar politically to each other), both with large land borders, succeeded for a long time (China longer than Vietnam mainly because China is rich enough to keep up controlling measures).


Marmar79

Go Capitalism! Go!


ThickAsPigShit

The problem is Liberalism, more than Capitalism. China has an authoritarian government and a society that is more or less in line with the government, and Confucian influence on society, which promotes social harmony (i.e. self sacrifice when required, be it imposed or voluntary). Liberalism, on the other hand promotes individualism and pursuit of one's own interests and happiness. Not saying Liberalism is bad per se, but it does have its drawbacks, such as instances like this. It also doesn't help that a significant portion of America is full of people who are cuckoo bananapants and don't trust vaccines, or still think COVID is a lie.


CarryingASpear

Just want to point to this when people throw out the "Confucianist social harmony" nonsense: https://www.scmp.com/news/china/society/article/3077393/coronavirus-police-public-clash-border-reopens-between-hubei-and


ThickAsPigShit

I mean, it is a core tenant of Confucianism, which is an underlying current of Chinese society, anecdotes notwithstanding.


CarryingASpear

This wasn't an 'anecdote', this was thousands of people violently attacking hundreds of police and overrunning them when they were denied entry between Hubei and Jiangxi back in March 2020.


banksy_h8r

> I mean, it is a core tenant of Confucianism Next time you're trying to sound smart, be sure to not make this basic homophone mistake.


Marmar79

Yeah it’s definitely the “I do what I want”ism of individualism/liberalism, but it’s also a government highjacked by late stage capitalism that is not allowed to get in the way of crisis capitalism and a system that is so defunded that they have no choice but to hope/believe that private enterprise will save the day.


Chance_Bluebird_5788

How does capitalism factor into the COVID strategy exactly?


Orangecuppa

Capitalism mindset is more inclined to protect self interests than actual handling of covid. It's not the most PC thing to say especially on reddit and there's this whole hindsight shit going on BUT we or rather the rest of world really needed a strong arm in handling the COVID crisis from the very beginning. Instead we had bipartisan nonsense and fake news about vaccines and even wearing a fucking mask became a political issue.


Chance_Bluebird_5788

Capitalism is an economic system, and it so happens to be the same economic system China is operating under while it puts up these trade surplus numbers. You may be conflating capitalism with federalism or individualism or something like that, but capitalism does not dictate how we react to a public health crisis. Japan is capitalist. South Korea is capitalist. Taiwan is capitalist. They didn't handle COVID in the same way we did.


Roidciraptor

If people aren't going out and spending money, then our economy goes into the shitter. That's how.


BILLCLINTONMASK

I know. It freaking sucks


Resident-Potato-

Not an option. Padlocking people into their apartments would never fly in the west.


BILLCLINTONMASK

Bad news for the west I guess


Lolkac

Not possible in democratic countries. Also zero covid strategy is destroying demand, middle class in China and small businesses. Its a terrible economic strategy.


BILLCLINTONMASK

Because demand, the middle class, and small businesses are thriving under the western response to COVID.


Lolkac

Well let me tell you this. United States does not have to introduce checks that can be spend only in shops or programs to boost demand. their middle class does not have 80% of their assets in housing and usa did not lose 3mil small businesses this year with additional 30% on the brink of collapse. And with aaaalll that, did not have the ir debt to gdp jump by 23%.


BILLCLINTONMASK

The USA spent trillions of dollars in direct monetary stimulus to the unemployed, individuals themselves, and both small and large businesses in order to boost demand and prevent small biz closures.


Kagari1998

It depends. Western Countries (Majority of them at least) simply cannot afford a zero-covid strategy. People will riot. (Human Rights Duh) Economy will crash. (Economy not self-sustaining enough to shut yourself off from the world) Opposition will take opportunity to seize power. (Democracy)


LurkerInSpace

We also don't have that much data from China about how well it's actually working - the government is just very opaque about its figures.


ShanghaiCycle

Well, I'm a musician in Shanghai and I have been gigging non-stop since August 2020. Venues crowded, festivals during the summer, even did a few gigs in other cities. We are going through a bit of a COVID panic in Shanghai right now, and the government is quarantining people in places, there are even some people stuck in a UNIQLO for 48 hours. It sucks, but people here know that these measures work.


ProperFun4860

But but but reddit assured us that China's economy is collapsing. Hmm, I wonder if they know anything about China at all. I'm guessing no.


NineteenSkylines

Domestic economy has issues but they can survive for quite some time on exports.


Lolkac

Reddit just doesn't understand time. They think everything happens instantly.


ProperFun4860

I think it has more to do with anti-china propaganda that many redditors bought without questioning anything. That seems to be going on a lot lately.


Johnny5isalive38

US, "take that china..wait"


shawnkfox

Fantastic deal really. The US prints trillions of dollars and then sends them over to China in exchange for goods. What isn't to love about getting free stuff?


Far_Mathematici

China also loved these magical green papers because they can use them to buy and invest strategic assets overseas.


ExtraBurdensomeCount

The issue is that these days as a developing country if you want dollars you no longer go to the US, but instead you go to China.


Someone9339

Because that's how the world works


NuclearApocalypse

Trade wars are easy to win, and this particular trade war is going great. Trump 2024. Make ~~America~~ China Great Again.


whorseses

Pfft whatever , we got one of the worlds biggest defecits so in a sense America wins because if you add a surplus to a defecit it cancels out /s


Slim_Calhoun

Our trade deficit grows when our economy grows.


ric2b

Trade deficits aren't a bad thing, it's basically you (as a country) trading a currency that you never run out of for actual goods and resources. If you control your own currency, that is.


Marmar79

Between this and the fact that xi gets his third term in November, making him the longest standing chairman since Mao, while at the same time Biden loses his midterm to the party of miserable lunatics who will handcuff him (more than Manchin and Sinema) for the next two years, it’s hard to see how China isn’t world leader by 2024


Zestyclose-Ad-6213

Will xi really get a 3rd term?


dinardanger

I've read that there's usually a clear successor being groomed and since that doesn't seem to be the case here then Xi will likely get another term.


NorthernerWuwu

I can't imagine why he wouldn't. He's only 68 and clearly popular. Two more terms is reasonably likely.


WestPastEast

He’s insanely popular among the rank and file. He’s lead the country to a really prominent standing in the world.


Marmar79

Yes


ObviouslyAltAccount

>making him the longest standing chairman since Mao Do the Chinese (or I guess, the CCP) have a norm or a rule against serving longer than Mao, like how the U.S. has one against serving longer than Washington?


TrickData6824

They had a 2 term limit but the party (under Xi's influence) voted to eliminate it. To be fair he hasn't officially seeked a third term yet but his successful handling of the pandemic and his tough stance against American bullying has just made him much more popular with both the common people and the party. Very likely he will seek a third term.


StandAloneComplexed

> They had a 2 term limit but the party (under Xi's influence) voted to eliminate it. No, this is false and you fall for the Western dramatization. The position of *President* of China (which is mostly *ceremonial*) had two term limits, but the true power resides in the position of Chairman of the CPC and that one *never* had term limits. Instead, China uses some informal fluid *age* limit (~68 to ~72), and Xi is still in that range.


Gigatron_0

How can they possibly hope to achieve anything if they aren't electing men well into their 70's to represent them??? My country is retarded


Far_Mathematici

More interesting news is less about whether Xi got 3rd term or not, that's almost fait accompli but who'll become VP (next Sec Gen commonly) and premier. Most likely Ding Xuexiang and Hu Chunhua.


send_me_your_GUH

Gonna look them up, this is pretty interesting


ComfortableTipTap

> making him the longest standing chairman since Mao Mao was in the position of China's "Chairman" for 5 years only. "Since Mao" does not really mean anything since almost every Chinaman served longer than Mao.


Marmar79

Cool semantics. I think you know what I mean


Asteroth555

> it’s hard to see how China isn’t world leader by 2024 Until China outspends US on military, it'll never be world leader


Marmar79

Military spending is arguably the main reason that America is going to be unseated. Military spending was an excuse to transfer huge amounts of wealth from the taxpayer to the people who own your government. America hasn’t done much with its military might other than lose wars to countries a fraction of USA size over the past 6 decades.


TrumpDesWillens

Also that military spending and size and strength were what the Soviets were always boasting about up until they fell.


pimpedoutmonkey

Moar!


Zestyclose_Meet1034

President Xi, is pretty good at acupuncture economics. America, is good at puncturing their economics


wired1984

Lots of bad takes on takes on this thread. Trade surplus is not as advantageous as people are stating.


cookingboy

>Trade surplus is not as advantageous as people are stating. Trade surplus isn't really even a thing real economists care about. It's a meaningless vanity metric made up by politicians to rile up their base. We did that to the Germans, then to the Japanese, and now China. I have a trade surplus with my local grocery store, but it doesn't mean one takes advantage of another. When Apple sells a Chinese made iPhone for $1,000, it's counted as a $1,000 trade surplus, without mentioning *all* of the profit (which is 70-80%) goes to Apple, an *American* company with American shareholders.


green_flash

> When Apple sells a Chinese made iPhone for $1,000, it's counted as a $1,000 trade surplus, without mentioning all of the profit (which is 70-80%) goes to Apple, an American company with American shareholders. That is incorrect. Trade balance statistics are not based on retail price, they are based on the bill of materials. For a $1000 iPhone that is about $400 minus $75 for materials imported from the US to China for assembly, so an iPhone contributes $325 to the US-China trade imbalance. More details here: https://voxeu.org/article/how-iphone-widens-us-trade-deficit-china-0 Now, the US-China trade balance stats are skewed as the article explains, but that does not apply to the overall trade balance of China with all countries. It's also absurd to claim that "real" economists do not care about trade surplus/deficit. Keynes for example has written about the danger of trade imbalances at great length. Countries with a huge trade surplus as well as countries with a huge trade deficit are both a big problem and ultimately unsustainable.


HoboWithAGlock

That's /r/worldnews for you, lmao. No one in this subreddit understands economics.


Timeiro

I had to scroll way too far for some sense.


MGD109

Seems to be happening more and more, I'm honestly starting to wonder why I keep coming back here.


badtarepanda

I have a question, I’m no economic person but with the delay in shipping, low consumption of goods and countries starting to make their own products locally. Who is China exporting to that would set records??


98raider

The same people/countries. Consumption of goods isn't low( I believe it's higher in a lot of areas) , shipping delays arent significant enough to put a dent in global trade and can eventually be solved( it also doesn't stop people from wanting goods). Locally produced goods either aren't made at a big enough scale, the type of products usually imported from China or competitively priced enough.


UniversalPeehole

Just take it if it's to much money


BlackSebbeth1

What countries are making stuff locally? Every thing I buy that contains plastic is made in china


Mizral

I work for an electrical contractor, we buy shit tons of hardware and 90% of it can only be sourced from China. Things simply could not be built without their manufacturing.


BrotherSwaggsly

Youtubers making Wish videos


blueelffishy

If the line at the club is so long that theres a huge delay, it doesnt mean that the overall volume of customers is low. In fact it indicates that it's high


FizzingOnJayces

China is still exporting to the whole world. Locally produced goods will never be able to compete unless governments subsidize them heavily - the existence of labour laws alone prevent most developed countries from being able to compete against China with their own local goods. Consumption of goods is also not low.


Enlightened-Beaver

Plenty of surplus cash to pay for the health and economic damages they caused in 2020-2021


L_viathan

Lol


Selflnsert

Everytime I hear a white person talk about reparations I chuckle


allens969

Nope, it’s going to be spent on fights with neighboring countries and trying to poach resources


Marmar79

Close. It will be spent to buy out countries through investment similar to what they’ve done with a few African countries and parts of the Caribbean. South American countries and struggling European countries are likely next.


Roll_for_iniative

Gonna have to feed all those people somehow. Think they might need a few more planets though.


Eswift33

If this is self-reported by Chinese government, I would take it with a grain of salt. They lie about their economy and, well, pretty much everything


LayneLowe

It seems like they could afford to quit building new coal plants


[deleted]

[удалено]


Flying_Barracuda

Since when does the world believe the financial data coming from the CCP? Just look at their Covid19 case count. CCP statements are just a huge joke.


Marmar79

What a safe position to just think every piece of news you don’t like is a lie. You’re going to love metaverse.


Shrektheshrekman

They should use all of that money for reparations of COVID…


MidnightRider00

Don't blame China and other eastern countries for the absolute failure of the west to contain a disease it knew it was coming.


Marmar79

Cute


neteng13

If Corona19 originated in the US and you said that you would be upvoted to the moon.


Shrektheshrekman

Exactly lmao