Day: August 5, 2024

This shocking scene is just a glimpse into the rise and fall of China’s bike-sharing industry. Similar bike graveyards can be found around major cities like Beijing, Shanghai, Xi’an, and Shijiazhuang. Once praised for being environmentally friendly, bike-sharing has ironically become a massive waste of resources and an environmental hazard.#chinaobserver

China’s economy is in trouble and you know it’s bad when China’s wealthiest elite are fleeing the country. Japan is in danger if China invades Taiwan. And so they came out with Final Fantasy 14 Dawntrail, which…encourages players to defend the island nation of Tural from a sinister evil… • We MUST Defend Taiwan According to FF…

00:00 Introduction00:15 Chinese Economy: Policy Moves & Services Data05:30 Two Economists on China’s Future China Update provides viewers with the most up to date political, economic, and geostrategic analysis on China. Videos are based on hundreds of articles, think tank reports, government statements and other resources in English and Chinese. China Update is fully independent, all views and analysis are all my own and I make the videos.

Economic Slowdown of China Explained. China economy economy evergrande crisis china news real estate crisis economy of china china china economy explained economy slowdown economic slowdown 2024. China economic slowdown economic explained Biden India Russia xi jinping China economic crisis china economic growth chinese economy. GDP export resource minerals mines factory industry microchip import china us relations America economic condition of china. The economic situation of china china’s gdp over the years how bad is the chinese economy why china is slowing its economy china economy economics explained china economic crisis explained the future of chinese economy china vs us economy 2024. China has an upper-middle-income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. It is the world’s second-largest economy by nominal GDP, behind the United States, and the world’s largest economy since 2016 when measured by purchasing power parity (PPP). China accounted for 19% of the global economy in 2022 in purchasing power parity(PPP) terms, and around 18% in nominal terms in 2022. The economy consists of public sector enterprises, state-owned enterprises, and mixed-ownership enterprises, as well as a large domestic private sector and openness to foreign businesses in their system. According to preliminary data released by the authorities, China’s GDP in 2023 was US$ 17.89 trillion with a real increase of 5.2% in 2024.Economy of China The FactsIn a little over four decades, China went from being one of the poorest countries in the world—with a real per capita GDP of only $156 US dollars in 1978—to joining the ranks of upper-middle-income countries with a real per capita GDP of $12,720 in 2022. The growth is particularly striking considering the country’s population size, sweeping territory, and vast heterogeneity.Comparing China’s real per capita GDP to the U.S.’s in purchasing power parity (PPP) terms, which takes into account differences in the two countries’ costs of living, China has grown from 4.1% of the U.S. per capita GDP level in 1990 to 28.4% of the U.S. level in 2022.Economy AnalysisIn an IMF report released in Jan 2024, the global financial policy body – also known as the IMF – projected China’s economic growth would drop to 4.6% in 2024, down from its 5.2% growth in 2023, and fall further to 3.4% by 2028.The property market, which has historically represented about a quarter of China’s GDP, has been a particular area of trouble for the Chinese economy lately, with a Hong Kong court ordering Chinese property giant China Evergrande, mired in more than $300 billion of debt, to liquidate.Also, the same analysis released on Jan 2024 predicted real estate investment will likely fall 30% to 60% in the next ten years relative to 2022 levels.China Economy SlowDownChina’s economic growth is likely to slow to 4.6% in 2024 and cool further to 4.5% in 2025, a Reuters poll showed, raising the heat on policymakers to roll out more stimulus measures amid deflationary pressures and a severe property slump.Gross domestic product or GDP is likely to grow 5.2% in 2023 – meeting the government’s annual growth target, partly helped by the previous year’s low-base effect which was marked by COVID-19 lockdowns, according to the median forecasts of 58 economists polled by Reuters.GDP in the fourth quarter of 2023 likely grew 5.3% from a year earlier, quickening from the third quarter’s 4.9% pace, the poll showed.Consumer inflation will likely pick up to 1.0% in 2024 from 0.2% in 2023, and rise further to 1.6% in 2025, the poll showed.The experts from major banks and institutions see the downturn deepening in the years ahead, predicting 4.4% for 2025 and 4.2% for 2026, amid the ongoing property crisis, weak consumption, and challenges posed by an aging population.The average forecast for the January-March quarter’s GDP growth was 4.5%, on a year-on-year basis. Industrial production in January and February increased by 7% on the year, inching up from 6.8% in December. Thanks to improved production-related indicators, the seasonally adjusted quarter-on-quarter growth rate was 1.2%, slightly up from 1% for October-December 2023. But a bit stronger than the 7.0957 yuan per dollar rate set by the Chinese central bank.The Chinese stock market has performed abysmally since 2022, seeing $2 trillion in losses.China’s aging population is dragging down the growth of the world’s No. 2 economy. Lombard Odier senior macro strategist Homin Lee expects the rate to be 3.9% in 2026, below the 4% mark.

The aging population is inevitable!

On July 23, Japan’s Nippon Steel Corporation announced it will end its 20-year joint venture with China’s Baosteel. The contract will be terminated at the end of August when it expires. Nippon Steel finds it challenging to expand its business in China and plans to focus its investment resources in the United States and India.The exodus of foreign capital from China is spreading from manufacturing to the beauty products sector. Japanese beauty brand Shiseido’s high-end skincare line, BAUM, announced it will withdraw from the Chinese market. The BAUM Tmall flagship store recently posted a closure notice, stating it will no longer accept new orders starting July 10.#chinaobserver

Recently, China has been experiencing continuous high temperatures, entering a peak period for fires. Reports of fire have been coming in from various provinces and cities.#chinaobserver

The program delved into the prevalent issue of trust deficit in contemporary China, as highlighted in Professor Feng’s research paper on governance through credit overextension. This phenomenon, observed from government levels to grassroots, reflects systemic distrust and corruption. While Xi Jinping’s governance model promotes centralized power, reality exposes widespread credit overextension and corruption. Despite anti-corruption rhetoric, the normalization of credit overextension unveils the true governance landscape under the CCP. The discussion underscores how corruption intertwines with governance, undermining trust and perpetuating systemic issues, challenging the efficacy of anti-corruption measures.

On July 19th, two large international oil tankers collided and caught fire about 55 kilometers northeast of Pedra Branca, near Singapore. Since the incident happened in Singapore’s maritime search and rescue area, the Singapore Navy’s frigate “RSS Tenacious” quickly went to the scene, rescuing several people. The Air Force helicopter “Rescue-10” airlifted two injured individuals to Singapore General Hospital.#chinaobserver