China's GDP has surpassed that of the European Union for the first time in history

[dannytan87]

cant trust tiong given number

do a reverse number lor..... official EU report by EU ppl for the imports from PRC.... and official US report for import from PRC...

 

[cal127]

is RCEP goes well, PRC economy is not going to slow down.... stagnant maybe.......

With a 30% increase in exports, slower growth, and a population crunch, there is little room for optimism. You think more trade is the solution? We all know that the growth figures for China tend to involve prevarication. So if 4% is the official number, despite that much of an increase in exports, something must have gone seriously wrong.

 

[dannytan87]

With a 30% increase in exports, slower growth, and a population crunch, there is little room for optimism. You think more trade is the solution? We all know that the growth figures for China tend to involve prevarication. So if 4% is the official number, despite that much of an increase in exports, something must have gone seriously wrong.

RCEP point is to make a domestic market into a region market..... domestic businesses can now be in vietnam or any SEA with zero tax just like in mainland..... there is no chinese domestic market in that sense........ more like EU........ population crunch can be talents in SEA or low wage workers in SEA......

its no longer about a china only domestic market....

 

[luvbitez]

china’s reported GDP is heavily inflated by debts.

with an average value of property 4-50 times of a household’s per capita income, net disposable income is almost zero or even under water.

these numbers hold no water comparing level of lifestyle vis a vis the europeans.

 

[cal127]

RCEP point is to make a domestic market into a region market..... domestic businesses can now be in vietnam or any SEA with zero tax just like in mainland..... there is no chinese domestic market in that sense........ more like EU........ population crunch can be talents in SEA or low wage workers in SEA......

its no longer about a china only domestic market....

Why go through all that trouble and extra costs with China and not deal directly with lower cost alternatives like Vietnam? China’s economic growth comes at a heftier price since they (used to) specialize solely in the middle to low value sections of the supply chain. Unlike the West whose growth comes more effortlessly since they dominate high value IP. The sole question then is whether they can escape this middle income trap before their functions are replaced by machines and when there are no young Chinese people that remain, not with more trade deals over convoluted transfer of markets. Just like Apple is now diversifying into India and Vietnam as more Japanese companies are pulling out including the Taiwanese. The chances of worldwide economic fragmentation are increasing in a future that the only trade between blocs and theirs may simply be some services like tourism.

 

[FlyingExile]

any country who say their GDP high these days i say is full of crap

 

[dannytan87]

Why go through all that trouble and extra costs with China and not deal directly with lower cost alternatives like Vietnam? China’s economic growth comes at a heftier price since they (used to) specialize solely in the middle to low value sections of the supply chain. Unlike the West whose growth comes more effortlessly since they dominate high value IP. The sole question then is whether they can escape this middle income trap before their functions are replaced by machines and when there are no young Chinese people that remain, not with more trade deal over convoluted transfer of markets. Just like Apple is now diversifying into India and Vietnam as more Japanese companies are pulling out including the Taiwanese. The chances of worldwide economic fragmentation are increasing in a future that the only trade between blocs and theirs may simply be some services like tourism.

yes can deal with vietnam if you wanna build the logistic, infra, shipping port, shipping logistic talent, trucks, information system and the people and language.....

china is already building infra in vietnam....... manufacturing is not produce the goodies and teleport the goods....

 

[regionmaster]

china’s reported GDP is heavily inflated by debts.

with an average value of property 4-50 times of a household’s per capita income, net disposable income is almost zero or even under water.

these numbers hold no water comparing level of lifestyle vis a vis the europeans.

Cheena people don't inherit asset, they inherit parent's debt

 

[danguard]

With a 30% increase in exports, slower growth, and a population crunch, there is little room for optimism. You think more trade is the solution? We all know that the growth figures for China tend to involve prevarication. So if 4% is the official number, despite that much of an increase in exports, something must have gone seriously wrong.

the aging population there is a worrisome trend for a manufacturing nation powerhouse

 

[danguard]

Cheena people don't inherit asset, they inherit parent's debt

modern debts and ways of life haiz

 

[danguard]

china’s reported GDP is heavily inflated by debts.

with an average value of property 4-50 times of a household’s per capita income, net disposable income is almost zero or even under water.

these numbers hold no water comparing level of lifestyle vis a vis the europeans.

the evergrande state of affairs not fully resolved yet also

 

[PetKat]

their official per capita gdp nominal usd is 12k

their official median income is like 250 usd or i round up to say 4k usd a year.

how come 1 person 4k usd income can produce 12k usd output?

lol i think the reality is more like the income is real at 4k usd per year (because the govt can track directly)

then their real estate bubble adds 3k usd to that

then all the scams prostitution fake products add another 1k to it

then the rest of the 4k is fake one...meaing the central govt want 6% gdp grow average everyear they fake a bit here and there add up to about 1/3 of gdp today is fake one

their real per capita gdp if u take away the real estate bubble and fake data is more like 6k usd

which is what u will see when u compare them with malaysia thailand vietnam roughly there are there

 

[luvbitez]

Cheena people don't inherit asset, they inherit parent's debt

they r if not the next generation will surely be.

on simple maths, properties in china r 70yrs leasehold. 2-30% of these r now reaching a remaining lease of 50yrs with a value 4-50times of household incomes.

this means they already r if not will be underwater for the times to come unless they increase their earning power by a few folds. they instead r now hit with wage cutting n faced with a stagnant economy.

the country looks really really dire.

 

[WeiHan]

their official per capita gdp nominal usd is 12k

their official median income is like 250 usd or i round up to say 4k usd a year.

how come 1 person 4k usd income can produce 12k usd output?

lol i think the reality is more like the income is real at 4k usd per year (because the govt can track directly)

then their real estate bubble adds 3k usd to that

then all the scams prostitution fake products add another 1k to it

then the rest of the 4k is fake one...meaing the central govt want 6% gdp grow average everyear they fake a bit here and there add up to about 1/3 of gdp today is fake one

their real per capita gdp if u take away the real estate bubble and fake data is more like 6k usd

which is what u will see when u compare them with malaysia thailand vietnam roughly there are there

See my post. Already explained. The median income of all economies are lower than their official GDP per capita in IMF or world bank. Is always less than halve of that in paper. For example, Singapore's GDP per capita also US$67000 but median income also less than halve of that only. Same with Taiwan, USA, Malaysia, Phillipine, UK etc etc...

 

[luvbitez]

few people realise that china domestic consumption is increasing all the time

consumption is increasing in monetary terms but not on actual purchases. a kg of pork was sold 20rmb per kg 10yrs ago is now 40rmb.

they may earn more, spend more but purchasing power r still lagging far behind due to inflation n assets acquired with debts.

 

[pieface]

China reported numbers often are fake and exaggerated.

Should discount by at least half of the reported figures to get to the actual numbers.

 

[animeonegai]

Fake news la.

Their statistics u believe?

i believe their statistics more than what some say GST will not rise

 

[GolferZzAxis]

for a population of that insane amount. Anything above 15k is very impressive already

Not sure if you realised EU has a population of like 450 million (or 500+ before UK left). It's not exactly a small number either

 

[Ubi-Warrior]

Means good jobs for Singapore?


App Time!!!

 

[luvbitez]

shanghai zeh zeh talks abt fake china gdp n jobless figures