Bharat Rakshak

A_Gupta wrote: ↑21 Feb 2024 09:10 > And don’t forget that US has the largest debt in the world which is 130% of its GDP.

No, Japan and Italy exceed the US in the major economies.

> Has actual productivity increased or it’s just mostly inflation?

Actual productivity.

In the manufacturing sector, productivity decreased 0.8 percent in 2023, reflecting a decrease in output of 0.5 percent and an increase in hours of 0.3 percent. Manufacturing unit labor costs increased 5.5 percent in 2023, as hourly compensation increased 4.7 percent while productivity decreased 0.8 percent.

There was once a time when American CEOs looked to China as a land of opportunity. That time may be long gone.

International HR Experts - Global HR Management
International HR Experts - Global HR Management
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After years of ascending growth, some of the most powerful US tech corporations have started to slide hard and fast in the world's second-largest economy amid the new reality of doing business there.

Beijing has endorsed uber-nationalism. In turn, sentiment toward Western business has soured. That's especially so as domestic companies have stepped up as viable alternatives. And it's all created a dangerous race to the bottom to win over consumers.

It's no wonder US companies that once banked on this being the "Chinese century" are having to learn a very painful lesson about doing business in China.

When Premier Li Qiang set out China's 5% annual growth target at the start of the National People's Congress this month, it became clear how vital technology would be in driving that forward.

That means Beijing is expected to play a more active role in catalyzing the growth of its domestic tech sector — and squeezing any foreign entities that get in its way.

The Wall Street Journal reported that a directive known as Document 79 was being ramped up to push out Western companies. It asks state-owned companies in a range of sectors, such as finance and energy, to "replace foreign software in their IT systems by 2027."

vera_k wrote: ↑29 Feb 2024 11:37 China's economy looks weak, but why is money pouring into its stock market

Views similar to one of my advisors who are pushing the line that China is in recovery while India is late stage.

Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of "rotten-tail kids".

The jobless rate for the roughly 100 million Chinese youth aged 16-24 crept above 20% for the first time in April last year. When it hit an all-time high of 21.3% in June 2023, officials abruptly suspended the data series to reassess how numbers were compiled.

In 1999, China dramatically expanded the enrolment capacity of universities in a bid to produce a better educated workforce to drive its fast-growing economy.

But the supply of graduates had kept exceeding jobs, with authorities expressing concern in 2007 over job availability, an issue that receded but never fully faded as more youth armed with degrees entered the market.

Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of "rotten-tail kids".

In 1999, China dramatically expanded the enrolment capacity of universities in a bid to produce a better educated workforce to drive its fast-growing economy.

But the supply of graduates had kept exceeding jobs, with authorities expressing concern in 2007 over job availability, an issue that receded but never fully faded as more youth armed with degrees entered the market.

Mass loot!!! This time in China.
Location: Zhecheng County, Shangqiu City, Henan Province, China

Apparently many public institutions in Henan Province haven't been able to pay salaries for 8-9 months, confirms Jennifer Zheng.
Social Unrest in China, afoot

Global ratings agency Fitch on Thursday downgraded China's sovereign credit rating, citing rapidly rising government debt and risks to public finances, as policymakers gear up to shield the economy from rising U.S. tariffs.

The downgrade came a day after President Donald Trump imposed sweeping tariffs on imports from U.S. trading partners, with China among the hardest hit, though Fitch said his move had not yet been incorporated into its forecasts.