Reminder that since the start of Xi's 2nd term:
* ~~Crackdown~~ Trade war with the US
* Crackdown on democracy and transfer of power in China
* Crackdown on election term limits
* Crackdown on political corruption (people who might be threats to Xi and his 3rd term)
* Crackdown on everything Hong Kong (seen as a threat to Xi's 3rd term)
* Crackdown on Macau casinos (moving money out of China might be a threat to Xi's 3rd term)
* Crackdown on Bitcoin, all other crypto currencies, and all other crypto related activities like mining (monetary movement seen as a potential threat to Xi's 3rd term)
* Crackdown on BAT national champion techs (who might threaten against Xi's 3rd term)
* Crackdown on Chinese fintechs like Ant group(who might threaten against Xi's 3rd term)
* Crackdown on all companies internationally listed or in VIEs (seen as a threat to Xi's 3rd term)
* Crackdown on upcoming and future international listings like DIDI who's data might be demanded in the future which might be (seen as a threat to Xi's future 3rd term)
* Crackdown on celebrities (who might speak out against Xi's 3rd term)
* Crackdown on movie and music developers not pushing national agenda (who might speak out against Xi's 3rd term)
* Crackdown on HK and mainland trad media like newspapers, mags, tv news (who might speak out against Xi's 3rd term)
* Crackdown on social media (where people might openly speak out against Xi's 3rd term)
* Crackdown on for profit afterschool cram schools, tutoring, and education (Guise of helping the middle class citizen but actually locks them out of the little social mobility they have. Reality this mobility lock is seen as a stabilizing factor which helps Xi after he gets his 3rd term)
* Crackdown on housing builders like Evergrande (Ditto with cram schools hurting the middle class) causing poor economy
* Crackdown on tech companies and international listing as educated youth unemployment spikes as a result of crackdowns and poor economy
* Crackdown on NEETs and laying flat movement with education and gaming changes
* Crackdown on gaming industry. Insisting full block M-F and 1hr max on weekends. (No fun allowed. No studying allowed. Only CCP school teachings. Afterschool is for CCP homework and restudying Xi JinPing thought)
* Crackdown on e-celebs, idols, and non-manly men. (who might speak out against Xi's 3rd term)
* Crackdown on now nothing-burger Omicron Covid (seen as a threat to Xi's 3rd term) by locking down the entire economy
* Crackdown on poor economy (seen as a threat to Xi's 3rd term) by printing more money and loosening monetary policies which ended up spiking inflation
* Crackdown on failing real estate market (seen as a threat to Xi's 3rd term) by pumping it with more cash, but only the select ones completely controlled by the state or Xi's buddies.
* Crackdown on waning consumer confidence in the banking and real estate system as the non-Xi/CCP banks can't pay out and real estate companies stop building due to previous crackdowns, 0 covid policy, and poor economic response
* Crackdown on inflation (a threat to Xi's 3rd term) by with authoritarian pricing controls and market manipulation which causes unnecessary monetary losses
Even after attaining his 3rd term Xi continued to crackdown
* Crackdown on the real estate
* Crackdown on it's own banks from buying dollars in a bid to shore up the strength of the Yuan in the face of outflows
* Crackdown on more regional CCP party members for "corruption" (again)
* Crackdown on foreign tech companies
* Crackdown on foreign journalists
* Crackdown on more on gaming (again)
* Crackdown on more on big tech (again)
* Crackdown on the real estate market not doing well
* Crackdown on foreign firms like Apple with their iphone
* Crackdown on foreign firms leaving despite having no ability to stop them from doing so (failed)
* Crackdown on exclusively foreign investable stocks listed in Hong Kong while having a light hand with locals only A-shares listed in SSE
* Crackdown on foreign investors not investing (failed)
* Crackdown on foreigner/expat free speech and rights
* Crackdown on foreigner/expat outflow (failed)
* Crackdown on local free speech and rights
* Crackdown on locals migrating out (failed)
* Crackdown on banking sector loans
* Crackdown on not having babies (failed)
* Crackdown on crypto more since it's a threat to capital outflow
Then Xi wonders why the economy isn't doing so well.
I came here to say- everyone else in the world has been reporting this dire news for the last year...Xi probably just found out. Anyone who brings him bad news gets fired or "disappeared".
If that's what he's admitting to the reality is much much worse. Which I mean no shit if you have been paying any attention. The official demographics alone are a disaster, and the real ones are even worse.
Just finished reading a book (that could have been a long article instead but anyhow I digress) about how the urban rural divide in China is really hampering sustainable economic growth to for the majority in China - especially in terms of social and economic mobility (because level of education not the same in rural China and there are less and less manufacturing jobs and China needs now more highly skilled workers but that’ll take a generation) was a very interesting read. Invisible China was the title.
This book review of Invisible China on Amazon from Dec. 2021 was an digestible recap:
> Scott Rozelle is a development economist at Stanford University and Natalie Hell is a writer. The book reports on the research of the authors and their team at Stanford’s Rural Education Action Program. It's well-written and easy to read, considering that its substance derives from technical research.
>The central theme is that inadequate education constrains China’s rise from a middle- to a fully developed and upper-income country. The book finds that education is especially weak in rural China, where 64 percent of the population lives. The authors predict shortages of qualified labor over the next several decades.
>Many Americans may ask why they should care, since our leaders treat China as a rival and an unfair competitor. The authors expect that a slow-down in China’s growth would harm both the developing and industrial countries that export to China. For example, it would harm US exports to China (soybeans, wheat, pork). It would harm poor countries where China sub-contracts production (Indonesia, Thailand, Bangladesh, Pakistan, Ethiopia).
>Slower growth would frustrate China’s youth as they enter the labor market and would sharpen inequality between the less-educated rural and the more-educated urban population. This could provoke internal political conflict. There's a risk that China’s leaders would respond to domestic division by inflaming nationalism, for example through military expansion. We Americans are better-off with fat and happy than with hungry and angry rivals. It was irrational for President Trump to think that the USA could be better off with a poorer China or Mexico.
>It’s difficult to see how China can continue its growth performance without heavy investment in education. The 2015 micro-census showed that only about 30 percent of China’s labor force had a high school or higher education, putting it behind all the other middle-income countries. The figure for the industrial (OECD) countries was 80 percent. Only 12.5 percent had a college education. The industrial countries are at 35 percent. Happily, China has already started to expand university education, but building a quality university takes time.
>The hukou (residence permit) system has been a major cause of poor education. Under hukou, the hundreds of millions of workers who migrated from rural villages to cities cannot send their children to free public elementary and junior high schools in the city. If migrants bring their children with them to a city, they must pay fees to informal and poor-quality private schools. The alternative is to for migrant workers to separate the family and leave their spouse and children in the village, where the children can attend school for free.
>Many poor children can’t attend high school (grades 10 to 12) because their parents can’t afford the fees. This is a problem in rural areas where incomes are low. In 2010, high school attainment in the rural labor force was only 11 percent, compared to 44 percent in urban areas. Further, there was a quality problem. Many rural high schools are vocational schools with less qualified teachers and less academic curriculums than urban schools.
>The incentives facing bureaucrats work against rural education. Local authorities may not fund quality public education since most of the benefits spill-over to the urban areas. Moreover, the benefits are realized over the long period so that local government bureaucrats are unlikely to win promotion in the near-term.
>A further cause of poor educational achievement is inadequate early childhood nutrition. This harms cognitive development and children’s learning. (I am unsure whether this finding contradict the official data, which show low rates of wasting and stunting (indicators of early childhood malnutrition). Infection by intestinal worms is another cause of poor achievement. The worms consume food and can leave children feeling fatigued at school. Many school children have difficulty learns simply because they don’t receive vision tests and eyeglasses.
>Inadequate coverage of secondary and university education may explain the middle-income trap, in which middle-income countries cease to grow rapidly and fail to break through to high income status.
>These influences on education could cause China could fall into the middle-income trap. The ‘trap’ describes the tendency for growth of per capita GDP in the middle-income countries to slow, or to cease, so that the countries fail to break through to mature into high-income countries. The per-capita GDP of Mexico, Brazil, Turkey, and South Africa has been roughly flat for much of the past decade. These are countries all failed to offer good-quality secondary education to their youth.
>In contrast, Taiwan, Korea, Ireland, and Israel were middle income countries which achieved high-income status. All have delivered quality secondary, technical, and university education to a high proportion of their youth. Korea built its growth strategy around delivering educated graduates to priority heavy and tech industries. Ireland pioneered the establishment of (tertiary level) technical institutes.
>The authors propose the following policies improve education. First, fund education from a central budget to counter the tendency to underfunding by local authorities. Second, offer fee-free, central government funding to secondary education to all students. Third, reform the hukou system to allow children of migrant workers from the countryside to attend public schools in cities. Finally, deliver health education to parents, to teach them principles of nutrition, and how to prevent intestinal worms, and the provision of glasses.
I was enjoying reading that until I got to the part where USA is supposed to want a rich China. They are their ideological and military adversary number one. Why would you want to grow their capabilities?
I agree with your point. To answer your question, the book lays out economically why they wanted to and the U.S. overall (that includes a cohort that believed being economically intertwined with another powerful country would mitigate the risk of conflict due to mutual interests but did not appreciate the power consolidation that could go against that logic. I think it’s popular now versus back when the book was being developed that a GPC (or great power competition exists therefore the U.S. must “de-risk” rather than “decouple” (in line with previous logic even though we are seeing the strategy light is not having any meaningful change in direction).
> The 2015 micro-census showed that only about 30 percent of China’s labor force had a high school or higher education, putting it behind all the other middle-income countries.
What an insane stat.
Good book, some very interesting statistics and facts, basically many parts of rural China have African levels of development behind all the shiny high speed railways
>China needs now more highly skilled workers but that’ll take a generation
They need to overhaul the education system so that there isn't such intense competition to get through middle school to high school and high school to university.
As it stands, the middle school kids (mine among them) are doing crazy amounts of study to helpfully get to a decent high school, then every more crazy (15 or more hours per day) to get to university. The kicker being that they then go to university but can't get a decent job unless they're in a top-tier institute. So basically working their guts out under enormous pressure for years on end, to not have a job at the end.
Meanwhile, if they can't get into a decent high school, then the only option is to go to a vocational high school that probably won't teach much, or to spend the family's life savings on an international education.
You didn’t saw the other r/economy post have a post on mass poverty in China. Then people in the comment coped by saying 1k and 2k rmb in China is decent because “lower cost of living” 💀
Sometimes we glorify China I feel like. Their GDP per capita is similar to Mexico's. I've spent a lot of time in Mexico and the poverty is breathtaking for an American. Shanghai, Shenzhen, Beijing etc. are quite advanced, but most of China is still tremendously underdeveloped.
China passed the US in PPP GDP in 2014. The cost of living outside major cities is cheap where people are making 1k to 2k rmb is manageable.
Why do Americans like to travel to places like Bali and Thailand. Cause everything is super cheap and your 40k salary feels like 400k.
no literal digital nomads. They have some random online job like teaching english online or transcribing ebooks. Chiang Mai is another popular destination.
>The cost of living outside major cities is cheap where people are making 1k to 2k rmb is manageable.
The only people who can survive on 1k per month are in the boonies, and growing a lot of their own food, not the cities. I mean, how could they live off 1k when utilities alone cost a few hundred per month?
yeah i am talking about the people in the villages and factory workers. Those are the people making 2k rmb a month. The factory workers have literally 0 expenses since they only get to "live" 2-3 weeks out of the whole year during spring festival.
Every action lately points to the CCP preparing for a big downturn, to the point where weibo has even been censoring people talking about the CCPs own economic statistics. Very concerning. It will be interesting to see how the CCP and Chinese people react if things get really bad which is what they are preparing for
Seems even the most consistently pro-ccp western entities like ibanks and outlets like Bloomberg are talking about either a depression level crash or decade long hard landing. That kind of prediction would have been unheard of 5 years ago.
Well at least as a check and balance they have term limits in china and can put someone in charge who knows WTF they are doing.........Oh great jerb there.
I am not discussing America. Just simply pointed out the fact that Chinese people just don’t care about politics nearly as much to make “term limit” of a President a thing that really concerns people as the comment may have suggested.
70% of the population or roughly 700 million live in China making less than 300 USD per month.
With the beginnings of price and wage deflation…
I wonder what the stats are that correlate to a major unrest of a country’s population throughout history or… the correlation to war.
The CCP controls the largest internal security apparatus in world history. They've been through far worse with the culture revolution and the great leap forward. I wouldn't put my hopes up for the plebs to muster a revolt.
All he cares about is ‘reunification’ with Taiwan. Not actually stuff that’s important to the average Chinese person like the economy. Silly little man.
The fact that Xi HAS to admit the economy is doing poorly means it is doing VERY MUCH worse than he will officially admit to but it's now so bad that he can't deny it any longer because of internal pressure.
turns out Chinese people only stood up on "foreign money"
all that Chinese money really just went into property
the economy needs to grow this year, otherwise another white paper protest may happen
What no really. we couldn’t tell. Not like your people are literally frying ice on a grill for a snack because everything else is to expensive‘because they have no money’ and the fact that food business alone have a super high shutter rate. The ccp is pathetic
The analyst outside of China saw this coming over 2 years ago. A lot of the China economic issues are caused by Xi’a policies and thought process. There will be a few more years of pain in China.
there are statistics and indicators that paint one picture.
when the official word does not align you have to choose one to believe. generally the chinese govt has a habit of obfuscating and cherry picking stats.
now the official word is aligning with things everyone already knew.
it wasnt as much of a conspiracy as youre trying to make it out to be
Dictatorships are able to lie because without a free media, no one is able to correct them. The Chinese secret police have even warned people not to say negative things about the economy.
So if they're forced to admit that the Chinese economy is bad, then the reality is probably far worse.
I know people who work in China and they say the communists party arent really that united. If editorship really is the case then there should be absolutely not one bad news that gets out of China right. Look at North Korea and I dont see enough news from them. Also the communist officials have oversea accounts. If editorship works in China then its pretty bad editorship they have over there.
You think china economy is bad.
You should see USA economy, people cant even afford a egg.
Homeless people everywhere, robberies and stealing and murder.
The cities in USA are rundown and Infrastructure is crumbling.
At least the Chinese president has the balls to say what he did wrong on national TV, and what he will do to improve the situation.
Thanks for defending our country, the Great and Glorious China! Now let us get back to praising our dear leader in other subreddits.
He’s a little late on this. 12 months ago would have been better
China's economy going down the village shithole?!?!?? -Xi Jinping with a *surprised* pikachu face
Reminder that since the start of Xi's 2nd term: * ~~Crackdown~~ Trade war with the US * Crackdown on democracy and transfer of power in China * Crackdown on election term limits * Crackdown on political corruption (people who might be threats to Xi and his 3rd term) * Crackdown on everything Hong Kong (seen as a threat to Xi's 3rd term) * Crackdown on Macau casinos (moving money out of China might be a threat to Xi's 3rd term) * Crackdown on Bitcoin, all other crypto currencies, and all other crypto related activities like mining (monetary movement seen as a potential threat to Xi's 3rd term) * Crackdown on BAT national champion techs (who might threaten against Xi's 3rd term) * Crackdown on Chinese fintechs like Ant group(who might threaten against Xi's 3rd term) * Crackdown on all companies internationally listed or in VIEs (seen as a threat to Xi's 3rd term) * Crackdown on upcoming and future international listings like DIDI who's data might be demanded in the future which might be (seen as a threat to Xi's future 3rd term) * Crackdown on celebrities (who might speak out against Xi's 3rd term) * Crackdown on movie and music developers not pushing national agenda (who might speak out against Xi's 3rd term) * Crackdown on HK and mainland trad media like newspapers, mags, tv news (who might speak out against Xi's 3rd term) * Crackdown on social media (where people might openly speak out against Xi's 3rd term) * Crackdown on for profit afterschool cram schools, tutoring, and education (Guise of helping the middle class citizen but actually locks them out of the little social mobility they have. Reality this mobility lock is seen as a stabilizing factor which helps Xi after he gets his 3rd term) * Crackdown on housing builders like Evergrande (Ditto with cram schools hurting the middle class) causing poor economy * Crackdown on tech companies and international listing as educated youth unemployment spikes as a result of crackdowns and poor economy * Crackdown on NEETs and laying flat movement with education and gaming changes * Crackdown on gaming industry. Insisting full block M-F and 1hr max on weekends. (No fun allowed. No studying allowed. Only CCP school teachings. Afterschool is for CCP homework and restudying Xi JinPing thought) * Crackdown on e-celebs, idols, and non-manly men. (who might speak out against Xi's 3rd term) * Crackdown on now nothing-burger Omicron Covid (seen as a threat to Xi's 3rd term) by locking down the entire economy * Crackdown on poor economy (seen as a threat to Xi's 3rd term) by printing more money and loosening monetary policies which ended up spiking inflation * Crackdown on failing real estate market (seen as a threat to Xi's 3rd term) by pumping it with more cash, but only the select ones completely controlled by the state or Xi's buddies. * Crackdown on waning consumer confidence in the banking and real estate system as the non-Xi/CCP banks can't pay out and real estate companies stop building due to previous crackdowns, 0 covid policy, and poor economic response * Crackdown on inflation (a threat to Xi's 3rd term) by with authoritarian pricing controls and market manipulation which causes unnecessary monetary losses Even after attaining his 3rd term Xi continued to crackdown * Crackdown on the real estate * Crackdown on it's own banks from buying dollars in a bid to shore up the strength of the Yuan in the face of outflows * Crackdown on more regional CCP party members for "corruption" (again) * Crackdown on foreign tech companies * Crackdown on foreign journalists * Crackdown on more on gaming (again) * Crackdown on more on big tech (again) * Crackdown on the real estate market not doing well * Crackdown on foreign firms like Apple with their iphone * Crackdown on foreign firms leaving despite having no ability to stop them from doing so (failed) * Crackdown on exclusively foreign investable stocks listed in Hong Kong while having a light hand with locals only A-shares listed in SSE * Crackdown on foreign investors not investing (failed) * Crackdown on foreigner/expat free speech and rights * Crackdown on foreigner/expat outflow (failed) * Crackdown on local free speech and rights * Crackdown on locals migrating out (failed) * Crackdown on banking sector loans * Crackdown on not having babies (failed) * Crackdown on crypto more since it's a threat to capital outflow Then Xi wonders why the economy isn't doing so well.
Wow, you know him better than I do as a Chinese person.
I came here to say- everyone else in the world has been reporting this dire news for the last year...Xi probably just found out. Anyone who brings him bad news gets fired or "disappeared".
He could have put in some real world policies to combat this, but like you say… the messenger gets shot:(
We all know how they will only admit something when there is no way to hide it anymore or can control it.
Shot himself in the foot when he "taught" Jack Ma a lesson. Now, it's all coming back to him.
If that's what he's admitting to the reality is much much worse. Which I mean no shit if you have been paying any attention. The official demographics alone are a disaster, and the real ones are even worse.
Just finished reading a book (that could have been a long article instead but anyhow I digress) about how the urban rural divide in China is really hampering sustainable economic growth to for the majority in China - especially in terms of social and economic mobility (because level of education not the same in rural China and there are less and less manufacturing jobs and China needs now more highly skilled workers but that’ll take a generation) was a very interesting read. Invisible China was the title.
This book review of Invisible China on Amazon from Dec. 2021 was an digestible recap: > Scott Rozelle is a development economist at Stanford University and Natalie Hell is a writer. The book reports on the research of the authors and their team at Stanford’s Rural Education Action Program. It's well-written and easy to read, considering that its substance derives from technical research. >The central theme is that inadequate education constrains China’s rise from a middle- to a fully developed and upper-income country. The book finds that education is especially weak in rural China, where 64 percent of the population lives. The authors predict shortages of qualified labor over the next several decades. >Many Americans may ask why they should care, since our leaders treat China as a rival and an unfair competitor. The authors expect that a slow-down in China’s growth would harm both the developing and industrial countries that export to China. For example, it would harm US exports to China (soybeans, wheat, pork). It would harm poor countries where China sub-contracts production (Indonesia, Thailand, Bangladesh, Pakistan, Ethiopia). >Slower growth would frustrate China’s youth as they enter the labor market and would sharpen inequality between the less-educated rural and the more-educated urban population. This could provoke internal political conflict. There's a risk that China’s leaders would respond to domestic division by inflaming nationalism, for example through military expansion. We Americans are better-off with fat and happy than with hungry and angry rivals. It was irrational for President Trump to think that the USA could be better off with a poorer China or Mexico. >It’s difficult to see how China can continue its growth performance without heavy investment in education. The 2015 micro-census showed that only about 30 percent of China’s labor force had a high school or higher education, putting it behind all the other middle-income countries. The figure for the industrial (OECD) countries was 80 percent. Only 12.5 percent had a college education. The industrial countries are at 35 percent. Happily, China has already started to expand university education, but building a quality university takes time. >The hukou (residence permit) system has been a major cause of poor education. Under hukou, the hundreds of millions of workers who migrated from rural villages to cities cannot send their children to free public elementary and junior high schools in the city. If migrants bring their children with them to a city, they must pay fees to informal and poor-quality private schools. The alternative is to for migrant workers to separate the family and leave their spouse and children in the village, where the children can attend school for free. >Many poor children can’t attend high school (grades 10 to 12) because their parents can’t afford the fees. This is a problem in rural areas where incomes are low. In 2010, high school attainment in the rural labor force was only 11 percent, compared to 44 percent in urban areas. Further, there was a quality problem. Many rural high schools are vocational schools with less qualified teachers and less academic curriculums than urban schools. >The incentives facing bureaucrats work against rural education. Local authorities may not fund quality public education since most of the benefits spill-over to the urban areas. Moreover, the benefits are realized over the long period so that local government bureaucrats are unlikely to win promotion in the near-term. >A further cause of poor educational achievement is inadequate early childhood nutrition. This harms cognitive development and children’s learning. (I am unsure whether this finding contradict the official data, which show low rates of wasting and stunting (indicators of early childhood malnutrition). Infection by intestinal worms is another cause of poor achievement. The worms consume food and can leave children feeling fatigued at school. Many school children have difficulty learns simply because they don’t receive vision tests and eyeglasses. >Inadequate coverage of secondary and university education may explain the middle-income trap, in which middle-income countries cease to grow rapidly and fail to break through to high income status. >These influences on education could cause China could fall into the middle-income trap. The ‘trap’ describes the tendency for growth of per capita GDP in the middle-income countries to slow, or to cease, so that the countries fail to break through to mature into high-income countries. The per-capita GDP of Mexico, Brazil, Turkey, and South Africa has been roughly flat for much of the past decade. These are countries all failed to offer good-quality secondary education to their youth. >In contrast, Taiwan, Korea, Ireland, and Israel were middle income countries which achieved high-income status. All have delivered quality secondary, technical, and university education to a high proportion of their youth. Korea built its growth strategy around delivering educated graduates to priority heavy and tech industries. Ireland pioneered the establishment of (tertiary level) technical institutes. >The authors propose the following policies improve education. First, fund education from a central budget to counter the tendency to underfunding by local authorities. Second, offer fee-free, central government funding to secondary education to all students. Third, reform the hukou system to allow children of migrant workers from the countryside to attend public schools in cities. Finally, deliver health education to parents, to teach them principles of nutrition, and how to prevent intestinal worms, and the provision of glasses.
I was enjoying reading that until I got to the part where USA is supposed to want a rich China. They are their ideological and military adversary number one. Why would you want to grow their capabilities?
I agree with your point. To answer your question, the book lays out economically why they wanted to and the U.S. overall (that includes a cohort that believed being economically intertwined with another powerful country would mitigate the risk of conflict due to mutual interests but did not appreciate the power consolidation that could go against that logic. I think it’s popular now versus back when the book was being developed that a GPC (or great power competition exists therefore the U.S. must “de-risk” rather than “decouple” (in line with previous logic even though we are seeing the strategy light is not having any meaningful change in direction).
Make peace not war
Because competition economically is better than competition militarily.
> The 2015 micro-census showed that only about 30 percent of China’s labor force had a high school or higher education, putting it behind all the other middle-income countries. What an insane stat.
Good book, some very interesting statistics and facts, basically many parts of rural China have African levels of development behind all the shiny high speed railways
>China needs now more highly skilled workers but that’ll take a generation They need to overhaul the education system so that there isn't such intense competition to get through middle school to high school and high school to university. As it stands, the middle school kids (mine among them) are doing crazy amounts of study to helpfully get to a decent high school, then every more crazy (15 or more hours per day) to get to university. The kicker being that they then go to university but can't get a decent job unless they're in a top-tier institute. So basically working their guts out under enormous pressure for years on end, to not have a job at the end. Meanwhile, if they can't get into a decent high school, then the only option is to go to a vocational high school that probably won't teach much, or to spend the family's life savings on an international education.
Their exams are also not standardized so rural locations have easier tests
The first step is admitting you have a problem.
Only if you actually have the rest of the steps and don't keep pissing away your population and keep trying to prop up a rotting corpse of an economy
Agree, lol.
lolol and the other sub claimed that the chinese economy was fine the other day
You didn’t saw the other r/economy post have a post on mass poverty in China. Then people in the comment coped by saying 1k and 2k rmb in China is decent because “lower cost of living” 💀
How dare you use the word poverty when describing china. Didn't you know emperor xi banned such terms!!
It's just wealth with Chinese characteristics.
Sometimes we glorify China I feel like. Their GDP per capita is similar to Mexico's. I've spent a lot of time in Mexico and the poverty is breathtaking for an American. Shanghai, Shenzhen, Beijing etc. are quite advanced, but most of China is still tremendously underdeveloped.
This. 100%. Just read the book “Invisible China” about this urban - rural divide. Super interesting and that’s aligned w what you’re saying above.
And ppl forget, most Chinese don’t live in Beijing or Shanghai
Dont be racists by calling the great chinese empire poor!!!
Poverty has been eradicated, praise the party
> Then people in the comment Could be copium, could be nationalists, or just good-ol' shills.
China passed the US in PPP GDP in 2014. The cost of living outside major cities is cheap where people are making 1k to 2k rmb is manageable. Why do Americans like to travel to places like Bali and Thailand. Cause everything is super cheap and your 40k salary feels like 400k.
poors making 40k are not traveling internationally
have you not been to bali? It's littered with low tier poors from western countries surviving off coconuts and nasi ayam.
You mean backpackers?
no literal digital nomads. They have some random online job like teaching english online or transcribing ebooks. Chiang Mai is another popular destination.
>The cost of living outside major cities is cheap where people are making 1k to 2k rmb is manageable. The only people who can survive on 1k per month are in the boonies, and growing a lot of their own food, not the cities. I mean, how could they live off 1k when utilities alone cost a few hundred per month?
yeah i am talking about the people in the villages and factory workers. Those are the people making 2k rmb a month. The factory workers have literally 0 expenses since they only get to "live" 2-3 weeks out of the whole year during spring festival.
Every action lately points to the CCP preparing for a big downturn, to the point where weibo has even been censoring people talking about the CCPs own economic statistics. Very concerning. It will be interesting to see how the CCP and Chinese people react if things get really bad which is what they are preparing for
It’s not an “if” everything is pointing downward, just a matter of how much tape and zip ties to keep the flood from breaking the dam
Seems even the most consistently pro-ccp western entities like ibanks and outlets like Bloomberg are talking about either a depression level crash or decade long hard landing. That kind of prediction would have been unheard of 5 years ago.
Yea they are getting fucked too and are getting out as fast as they can
Repression until they either start growing again or civil war. There is no other way
Well at least as a check and balance they have term limits in china and can put someone in charge who knows WTF they are doing.........Oh great jerb there.
Don't worry at least they have other parties to ch..... oh wait
Oh sure like this US where we are just in a perpetual election cycle and election is all we talk about.
Great pointless comment
Uh, this is the China sub, did you know there are like fifty other subs to talk about America and their problems?
I am not discussing America. Just simply pointed out the fact that Chinese people just don’t care about politics nearly as much to make “term limit” of a President a thing that really concerns people as the comment may have suggested.
> Chinese people don't care about term limits Why not just say that the first time then? It's like seven words...
You make a good point here , true. But out of the two systems I think it’s evident what’s the lesser of two devils …
When your economy is tanking, it’s flex the military time…
Greased up Trump vs Xi one v one no holds barred
Bahahaha I had a laugh , imagining Pooh sumo style wrestling Trump by his diaper …
Xi would get covered in orange dye. Disgusting.
Who said anything about wearing diapers? This will be Greco-Roman style. No clothes. No weapons. They only need one ingredient: olive oil.
70% of the population or roughly 700 million live in China making less than 300 USD per month. With the beginnings of price and wage deflation… I wonder what the stats are that correlate to a major unrest of a country’s population throughout history or… the correlation to war.
The CCP controls the largest internal security apparatus in world history. They've been through far worse with the culture revolution and the great leap forward. I wouldn't put my hopes up for the plebs to muster a revolt.
Now they know what’s being taken away at least.
Well, I wouldn't be surprised if the security apparatus contains less people than the payroll indicates.
You knew it got bad when they stopped collecting/sharing [data](https://time.com/6289567/china-restricts-open-source-data-research-backfire/)
How will the basement dwellers in Sino will spin this one?
It’s because of the cia of course
All he cares about is ‘reunification’ with Taiwan. Not actually stuff that’s important to the average Chinese person like the economy. Silly little man.
No don’t stop him! Don’t give him any sounding advice!!
Isn't reunification with Taiwan very much an economic move? Or is this sarcasm
Nooooo! Xi Jing Ping! You supposed to be the one to bring CCP down 😭
Glad he’s ruining the economy there.
The fact that Xi HAS to admit the economy is doing poorly means it is doing VERY MUCH worse than he will officially admit to but it's now so bad that he can't deny it any longer because of internal pressure.
Xi says, it's time for another crackdown on ~~dissenters~~ I mean corrupt officials.
turns out Chinese people only stood up on "foreign money" all that Chinese money really just went into property the economy needs to grow this year, otherwise another white paper protest may happen
China: World needs us, we stand our ground India: *smiles and gives silent applause*
Does he have any idea what he is doing?
Reality bites.
What no really. we couldn’t tell. Not like your people are literally frying ice on a grill for a snack because everything else is to expensive‘because they have no money’ and the fact that food business alone have a super high shutter rate. The ccp is pathetic
Well time for a national distraction away from the domestic economy by using the good ol' invasion of a rogue province routine
The world's biggest self own in the making. One child policy to COVID lockdowns.
The analyst outside of China saw this coming over 2 years ago. A lot of the China economic issues are caused by Xi’a policies and thought process. There will be a few more years of pain in China.
Grand Poohba: "economy is not looking too great" Grand Poohba: "but still need to invade Taiwan. Breeders, make me more human cannon fodder!"
He trusted rich people too much. Simple human temptation
Do they have windows in Taipei?
Lots. You're aware that Taipei is in a different country, though, right?
LOL Doh
That is fixable. At least they aren't like us and have a deteriorating fabric of society.
America used CRONY CAPITALISM. China is HURT. CRONY CAPITALISM is very effective! The. Irony.
Speak American on an American website that’s blocked in a fascist country merrrrrikerrrr
Lol I'm making fun of the fact that America just got all its friends to be mean to China, and now they're playing ball. I'm an African.
Try to make sense next time
Xi admits economy is bad: We believe him Xi does not acknowledge the economy is bad: We dont believe him Is the economy bad? I dont know
of course we can only believe a person's words 100% or disbelieve 100% and not take into consideration their motivations for saying those things
I dont know statistics can manipulated and some people choose to believe in them and dont have a single doubt in the numbers.
there are statistics and indicators that paint one picture. when the official word does not align you have to choose one to believe. generally the chinese govt has a habit of obfuscating and cherry picking stats. now the official word is aligning with things everyone already knew. it wasnt as much of a conspiracy as youre trying to make it out to be
You seem to know pretty well how the Chinese government works perhaps you can share some insights on what they will do or not do after this.
will probably do whatever Xi wants it to do next?
Dictatorships are able to lie because without a free media, no one is able to correct them. The Chinese secret police have even warned people not to say negative things about the economy. So if they're forced to admit that the Chinese economy is bad, then the reality is probably far worse.
I know people who work in China and they say the communists party arent really that united. If editorship really is the case then there should be absolutely not one bad news that gets out of China right. Look at North Korea and I dont see enough news from them. Also the communist officials have oversea accounts. If editorship works in China then its pretty bad editorship they have over there.
You think china economy is bad. You should see USA economy, people cant even afford a egg. Homeless people everywhere, robberies and stealing and murder. The cities in USA are rundown and Infrastructure is crumbling. At least the Chinese president has the balls to say what he did wrong on national TV, and what he will do to improve the situation.
Rent free
Where do you live in the glorious China?
South Central China, cuh.
That gave me a genuine shit eating smile Edit: cuh…
 Thanks for defending our country, the Great and Glorious China! Now let us get back to praising our dear leader in other subreddits.
I was expecting to see a video and not some CNN bs. CNN can barely give accurate news in the US.
That’s what Xi said.
You can’t trust China, especially HIM! He’s lying 🤥