PRC Economy - New Reflections : April 20 2015

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pankajs
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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 04 Jul 2018 23:28

https://www.theepochtimes.com/chinese-f ... 79991.html
Chinese Financial Markets Reaching Tipping Point
Signaling the level of concern at the highest level of the Chinese communist regime, the National Institute of Finance and Development, a regime-affiliated think tank, published a report last week warning of “financial panic.”

The report said the Chinese economy may be on the edge of disaster, brought on by a combination of increasing bond defaults, currency depreciation, tightening lending and liquidity, and trade tensions with the United States.

The think tank warned stock purchases using margin (borrowed funds) have reached levels last seen in 2015, which is especially dangerous as investors rush to unwind positions to meet margins calls in a market downturn, further exacerbating an ongoing crash.

“After the 2015 stock market disaster, the leveraged funds on the Chinese market have not been seriously cleaned up. Instead, there has merely been ‘a change of clothes,’” the report said.

The study is also concerned that the ongoing Sino–U.S. trade tensions will have serious knock-on effects for the Chinese economy and financial markets.

“The combination of old and new factors is likely to lead to a high degree of nervousness in the financial market and a sudden increase in market risk, which in turn induces financial panic,” said the report.

Might come to nothing but note that the government itself is very concerned. This is no outsider warning of disaster. Risk is just piling up in Xina.

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Re: PRC Economy - New Reflections : April 20 2015

Postby chetak » 04 Jul 2018 23:45

pankajs wrote:https://www.theepochtimes.com/chinese-financial-markets-reaching-tipping-point_2579991.html
Chinese Financial Markets Reaching Tipping Point
Signaling the level of concern at the highest level of the Chinese communist regime, the National Institute of Finance and Development, a regime-affiliated think tank, published a report last week warning of “financial panic.”

The report said the Chinese economy may be on the edge of disaster, brought on by a combination of increasing bond defaults, currency depreciation, tightening lending and liquidity, and trade tensions with the United States.

The think tank warned stock purchases using margin (borrowed funds) have reached levels last seen in 2015, which is especially dangerous as investors rush to unwind positions to meet margins calls in a market downturn, further exacerbating an ongoing crash.

“After the 2015 stock market disaster, the leveraged funds on the Chinese market have not been seriously cleaned up. Instead, there has merely been ‘a change of clothes,’” the report said.

The study is also concerned that the ongoing Sino–U.S. trade tensions will have serious knock-on effects for the Chinese economy and financial markets.

“The combination of old and new factors is likely to lead to a high degree of nervousness in the financial market and a sudden increase in market risk, which in turn induces financial panic,” said the report.

Might come to nothing but note that the government itself is very concerned. This is no outsider warning of disaster. Risk is just piling up in Xina.


This is exactly why they have toned down their response to the trump trade wars.

It is not usual for the hans to take such insults to them lying down. Trump is working with prior intelligence inputs and many china watchers may be fully aware of the finer details of the growing disaster.

The hans are walking on eggshells right now. All their OBOR/BRI/CPEC initiatives have tapered off very considerably and the ROI on their OBOR/BRI/CPEC investments to date is practically nil.

Their export earnings have slowed and costs are rising in China.

They desperately need pliable markets for their junk exports.

They also need quieter borders and lesser tensions with their neighbors and maybe that was what Wuhan meeting was about??

The well timed Indo pacific initiatives of the amerikis may not be a mere happenstance but a pre-planned strategic strike to wrest the advantage from a weakened adversary.

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 05 Jul 2018 00:03

Pesh hai aap logo-n ki khidmat me ... One chart that tells it all ... if you know what you are looking at. {Added Later: to really understand the scale check how the near horizontal US data on the comparison chart (1st chart) would have looked plotted alone (2nd chart)}

Daniel Lacalle Verified account @dlacalle_IA

"China is adopting sound money and the US is a bubb"...Ooooooops

Image


US M2 on its own; to better understand the scale of things
Image

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 08 Jul 2018 15:39

Keiser Report: Genuine Trade War


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Re: PRC Economy - New Reflections : April 20 2015

Postby chola » 08 Jul 2018 15:48

Unkil is not number one for nothing.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 09 Jul 2018 14:47

US soybean farmers say China tariffs could result in 'serious damage'

http://money.cnn.com/2018/07/07/news/ec ... index.html

Soybean farmers, apple growers and auto workers are among the US workers bracing for fallout from a trade war between the United States and China.


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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 11 Jul 2018 09:30

David Stockman to Trump: Blame the Fed, Not Trade Deals, for U.S. Trade Deficit


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Re: PRC Economy - New Reflections : April 20 2015

Postby Neshant » 11 Jul 2018 22:31


China Steals Secrets Behind Apple's Self-Driving Car


The US has arrested a former Apple employee who allegedly tried to abscond with sensitive proprietary information from the company's closely guarded self-driving car project, according to the Financial Times. Xiaolang Zhang, who had recently left his position at Apple under suspicious circumstances, was arrested by FBI agents as he tried to board a plane bound for mainland China.

Zhang joined Apple in December 2015, and was arrested on July 7. US prosecutors allege that he had downloaded sensitive information about the company's self-driving car research without permission. During his time at the company, Zhang worked "to develop software and hardware for use in autonomous vehicles."

The charges against Zhang represent the latest in a series of arrests made by federal authorities of Chinese spies carrying out what the US government calls "economic espionage" that date back to 2006.

...

The complaint against Mr Zhang said about 5,000 of Apple’s 135,000 full-time employees have security clearance for Titan, although that figure may include staff across the company working on artificial intelligence technology, as well as hundreds of people working on the car project itself.

...

Apple began an internal investigation and allegedly found he had downloaded information about its autonomous vehicle project. CCTV footage showed he had also taken a large box from Apple’s self-driving car lab shortly before informing his supervisor about his resignation, the US government claimed.




https://www.zerohedge.com/news/2018-07- ... ar-secrets

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 12 Jul 2018 09:06

PBC has weakned Yuan sharply

The People's Bank of China on Thursday against the background of another round of aggravation of the trade dispute with the US sharply weakened the yuan against the dollar by 0.73%, according to the regulator.

On Thursday, the regulator set the average exchange rate at 6.6726 yuan per dollar, which is 492 points more than on Wednesday, when the rate was 6.6234.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 12 Jul 2018 09:07

I wonder if we will see a competitive devaluation of currency in SE Asia as trade war progress , PBC is doing it and how long others will be.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 13 Jul 2018 16:44

China trade surplus with US hits record high in June

https://www.bbc.com/news/business-44818316

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Re: PRC Economy - New Reflections : April 20 2015

Postby chola » 13 Jul 2018 16:54

Austin wrote:China trade surplus with US hits record high in June

https://www.bbc.com/news/business-44818316


Panic buying before the tariffs. Their surplus will go down with the US in the coming months, especially after the $200B tariffs hit.

But depending on how well they crack down on third country re-shipments, you would see chini surplus go up with with the rest of the world who in turn will replace Cheen in Amreeki surplus stats.

The US will continue to have trade deficit with or without China. It is simply too wealthy, too heavily powered by consumption compared to the rest of the world.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 13 Jul 2018 17:41

you would see chini surplus go up with with the rest of the world who in turn will replace Cheen in Amreeki surplus stats.


That is assuming " ROW " would replace Chini goods without going through the same tarrif barrier that US has put up in China , Likely the ROW would face the same trade barrier in some way or other

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 18 Jul 2018 23:22

China stealing US IP worth $300 B per year

http://video.foxbusiness.com/v/58106731 ... show-clips

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 20 Jul 2018 09:45

China "Weaponizes Yuan" - Weakens Fix By Most Since 2016


zerohedge
@zerohedge
In the past 48 hours China has:
- Cut its 7-day Treasury rate by 103bps
- Launched quasi QE
- told banks to flood the system with liquidity
- Sent the Yuan tumbling
- Warned more easing is coming

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Re: PRC Economy - New Reflections : April 20 2015

Postby yensoy » 20 Jul 2018 12:49

Austin wrote:China "Weaponizes Yuan" - Weakens Fix By Most Since 2016
zerohedge@zerohedge
In the past 48 hours China has:
- Cut its 7-day Treasury rate by 103bps
- Launched quasi QE
- told banks to flood the system with liquidity
- Sent the Yuan tumbling
- Warned more easing is coming


So China will have even more inflation then? Not just inflation in house prices (which happens whether they print or soak liquidity) but all around pocket pinching inflation, like food (heavily dependent on imports of fruits, meat, soya - for oil & fodder), petroleum (due to drop of yuan), and concomitant products. I guess there will be more money for more malinvestments, more bridges to nowhere, more unoccupied apartment blocks, more piles of rusting shared bicycles. No wonder OBOR is so critical to Eleven, it's a way to make the money actually worth something in the future.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 22 Jul 2018 10:33

Good Write up on how china can draw the US in counter sanctions

4 powerful weapons China has in its arsenal to win the US-China trade war

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 22 Jul 2018 10:36

Best route for China is to stake it step wise devaluate the Yuan Gradually and Impose Tarrif on purchase of Boeing aircraft which has big market in China by 15 % and give Airbus preference that would be good enough and a good escalation ladder to start with , they can take it up from there by making US companies harder to access China market and EU and India other would be happy to oblige

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 22 Jul 2018 10:57

Yesterday I was listening to a podcast where this US economist was suggesting that instead of tariff US could/should have gone the devaluation route against China.

That is to say US should have started buying Yuan in the open market to devalue Dollar.

While USD is a free floating currency, nothing prevents the FEDs from operating in the FX market and start mopping up Yuan hand over fists and send it soaring. It's a game the two could play.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 22 Jul 2018 11:34

Trade war to accelerate decline of US empire as China & India dominance grows – Dr. Doom Marc Faber

“The US as an empire against the rest of the world peaked in 1950s or 1960s. Then, there have been other countries that have become more powerful, in particular China and now increasingly India. The US empire and its influence on the world is diminishing and has been diminishing for quite some time,” he told RT. The trade war may accelerate this “mutation” in the global economic balance “with other countries becoming more important and the US less important,” Faber said.

According to Faber, the US is likely to be the biggest loser from the trade war it started. “The winners in a real trade war would be everyone except the US. The Europeans would trade more with Asia, and the Asians would trade more with Europe than the US. There would be more trade between the emerging economies and China and vice versa,” Faber said.


Another winner from the trade would be Russia since China would buy more resources from the country, while Moscow would buy more from Beijing, he said.

The US stock market has thus far ignored the news about the global trade war, Faber notes. “But if there is trade war, it is not good for the global economic growth. The global economy is slowing down already. I think it would be a big mistake to go ahead with the trade war.”

The countries most exposed to the trade war in emerging markets are Brazil, Turkey, and Argentina, due to their fiscal problems, growing deficits, and weak currencies amid large amounts of foreign debt, Faber said.


With the global economy financed by soaring debt since the last global crisis of 2008-2009 another recession is likely to come, but its shape is not yet known, according to the investor.

Despite the recent strength of the US dollar, especially against the currencies of emerging economies, Faber says the trend will not continue in the long run. He says the best way to protect individual investments in times of turmoil is to diversify the portfolio with cash, bonds, precious metals, and real estate

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Re: PRC Economy - New Reflections : April 20 2015

Postby souravB » 23 Jul 2018 03:09

An old but very informative discussion on Chinese vs Indian economy.
Some of the points raised has come to pass in these years too.

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 23 Jul 2018 15:07

China Beige Book @ChinaBeigeBook

"Growing distress in #China’s $4T corp bond mkt has turned the spotlight onto private fund managers who make millions from arranging issuances for desperate companies in return for under-the-table cash payments"https://www.caixinglobal.com/2018-07-18/bond-markets-dirty-little-secret-exposed-101306115.html …
China Beige Book @ChinaBeigeBook

"This is the 2nd time the PBOC has attempted to boost confidence in the corp bond mkt via the MLF. In June, it broadened the collateral it would accept for MLF loans, down to AA+ & AA" Now...junk. Curious way to promote deleveraging https://www.caixinglobal.com/2018-07-19 ... 06543.html

Growing distress in #China’s $4T corp bond mkt .. so now the Chinese central bank, PBOC, will accept "Junk" bonds as collateral to boost confidence in the corp bond mkt.

Bery nice!

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Re: PRC Economy - New Reflections : April 20 2015

Postby isubodh » 23 Jul 2018 17:28

Austin wrote:Best route for China is to stake it step wise devaluate the Yuan Gradually and Impose Tarrif on purchase of Boeing aircraft which has big market in China by 15 % and give Airbus preference that would be good enough and a good escalation ladder to start with , they can take it up from there by making US companies harder to access China market and EU and India other would be happy to oblige


:) Why would Airbus wait to not increase the prices for China market when their main competitor has been put out of play.

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 23 Jul 2018 22:17

China Beige Book @ChinaBeigeBook

"#China’s banking system exists to serve SOEs, so private firms must rely on shadow banking. But officials are clamping down, w/private biz bearing the brunt" Yet, CBB data now show "this shadow lending is re-formalizing to banks, w/lower rates to boot" https://m.scmp.com/news/china/economy/a ... sing?amp=1

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 25 Jul 2018 17:55

https://www.reuters.com/article/us-chin ... SKBN1KF0R6
In China's debt-laden Xiamen, real estate boom chokes consumption

XIAMEN, China/BEIJING (Reuters) - Yang Xiaodao, a 26-year-old civil servant in the Chinese city of Xiamen, says taking out a 30-year-mortgage on a two-bedroom apartment with her husband was the most regrettable decision of her life.

Although their parents covered the 1.5 million yuan (£172,285) down payment on the 2.9 million yuan flat, mortgage payments eat up more than 70 percent of the couple’s combined income of about 10,000 yuan a month - average for the city.

“Our spending power has plummeted,” Yang said. “We do not dare to have a kid. We do not dare to buy a car. We do not dare to travel.”

Throughout China, home prices that are among the highest in the world relative to incomes have pushed millions of households to debt levels similar to those seen in the United States just before its housing crisis, according to a new study by the Institute for Advanced Research at the Shanghai University of Finance and Economics.

Economists are sounding the alarm that such debt has started to crimp consumption, undermining Bejing’s plan to lean on domestic demand to drive growth amid a heated trade dispute with the United States.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 04 Aug 2018 20:07

China US Pow Pow

US : US presidential adviser Donald Trump on economics Larry Kudlow said that Washington will continue to exert pressure on Beijing to achieve trade concessions. In addition, Kudlow said that "the economy and currency of China is weak, and people are leaving the country," and called on not to underestimate Trump's determination to "bring the matter to the end."


China: "The state of China's economy is evident to the entire international community: annually our contribution to the development of the world economy is about 30%, this is the same as the US, Japan and Europe are putting in. I do not know why he said that the Chinese economy is in a bad state. At least this is not true, "Wang Yi commented at a press conference on the ASEAN events in Singapore.

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Re: PRC Economy - New Reflections : April 20 2015

Postby disha » 05 Aug 2018 03:18

Austin wrote:China: "The state of China's economy is evident to the entire international community: annually our contribution to the development of the world economy is about 30%, this is the same as the US, Japan and Europe are putting in. I do not know why he said that the Chinese economy is in a bad state. At least this is not true, "Wang Yi commented at a press conference on the ASEAN events in Singapore.


That means the Chinese economy is fragile., by taking the bait Wang Yi confirmed the state of Chinese economy. It is fragile.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Austin » 05 Aug 2018 08:05

China introduces 25% tarrif on US LNG imports

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Re: PRC Economy - New Reflections : April 20 2015

Postby kancha » 13 Aug 2018 11:22

Link

@spectatorindex

BREAKING: Prime Minister of Malaysia Mahathir Mohamad says his government will cancel major infrastructure projects backed by China.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Arima » 13 Aug 2018 12:21

pankajs wrote:https://www.reuters.com/article/us-china-economy-consumption/in-chinas-debt-laden-xiamen-real-estate-boom-chokes-consumption-idUSKBN1KF0R6
In China's debt-laden Xiamen, real estate boom chokes consumption

XIAMEN, China/BEIJING (Reuters) - Yang Xiaodao, a 26-year-old civil servant in the Chinese city of Xiamen, says taking out a 30-year-mortgage on a two-bedroom apartment with her husband was the most regrettable decision of her life.

Although their parents covered the 1.5 million yuan (£172,285) down payment on the 2.9 million yuan flat, mortgage payments eat up more than 70 percent of the couple’s combined income of about 10,000 yuan a month - average for the city.

“Our spending power has plummeted,” Yang said. “We do not dare to have a kid. We do not dare to buy a car. We do not dare to travel.”

Throughout China, home prices that are among the highest in the world relative to incomes have pushed millions of households to debt levels similar to those seen in the United States just before its housing crisis, according to a new study by the Institute for Advanced Research at the Shanghai University of Finance and Economics.

Economists are sounding the alarm that such debt has started to crimp consumption, undermining Bejing’s plan to lean on domestic demand to drive growth amid a heated trade dispute with the United States.



in India a family with 10 k monthly income first of all will not get loan for 30 lac unless interest rate is like 3-4%. is that the case?

artificial low interest rate
plus jacked up rates causing housing bubble?

if so then we are in a tinder box waiting to implode.

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Re: PRC Economy - New Reflections : April 20 2015

Postby alexis » 14 Aug 2018 20:34

^^

The loan is 1.4 million; still too much of a risk taken by the bank inspite of the lower interest rate there.

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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 18 Aug 2018 17:19

https://www.scmp.com/news/china/economy ... cal-cadres
Just how big is China’s ‘hidden’ debt pile? Beijing orders local cadres to find out

China’s ruling Communist Party and cabinet have ordered local authorities to stop amassing “hidden” debt as part of Beijing’s bigger push to head off catastrophic financial risks.

The order was sent to municipal governments throughout the country, according to official reports of cadres meeting to study the threat.

The full text of the order has not been released but the official Hunan Daily reported on Thursday that provincial governor Xu Dazhe ordered cadres “to follow requests from the central leadership to get a clear picture of hidden local government debt as soon as possible and then make plans to address it”.

Officials in Jingzhou and Yunxi county in Hubei province and the county of Kangle in Gansu also met to examine the instructions, reports on government websites said.

Zhao Quanhou, a senior researcher with the Ministry of Finance’s Chinese Academy of Fiscal Sciences, said the debt curbs were an effort to cut leverage in the economy, listed by President Xi Jinping as the country’s overriding economic priority.

“[The order] is intended to rein in [hidden debt] and pave the way for it to be tackled in the future,” Zhao said.

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Re: PRC Economy - New Reflections : April 20 2015

Postby Neshant » 25 Aug 2018 14:11

Got to admire the Chinis.
They are truly hardworking people.
If anyone deserves to make it to the top, its them.


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Re: PRC Economy - New Reflections : April 20 2015

Postby panduranghari » 25 Aug 2018 14:18

^ if you wish to purchase these replica masterpieces, use this website http://www.oilpaintings-supplier.com/
Better than the s*it that is sold in Ikea or cheap printed copies.

I actually sent the guy a few good photos of Raja Ravi Verma's and Vasudeo Gaitonde's paintings. What they made was stunning. Cant afford a real Gaitonde or Raja Ravi Verma which sell in crores. I spent a grand total of £200.

Image

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Re: PRC Economy - New Reflections : April 20 2015

Postby kiranA » 25 Aug 2018 23:11

Arima wrote:
pankajs wrote:https://www.reuters.com/article/us-china-economy-consumption/in-chinas-debt-laden-xiamen-real-estate-boom-chokes-consumption-idUSKBN1KF0R6
In China's debt-laden Xiamen, real estate boom chokes consumption




in India a family with 10 k monthly income first of all will not get loan for 30 lac unless interest rate is like 3-4%. is that the case?

artificial low interest rate
plus jacked up rates causing housing bubble?

if so then we are in a tinder box waiting to implode.


The loan is low risk for the lender by any standard as equity (1.5 million yuan) worth more than loan is already built in to the property. If in any case the person defaults, bank can seize property and easily recover its dues. However the point of the article is still correct high EMI's reduce spending power of chinese families. Chinese mortgage are around 5% but Chinese dont pay property taxes (roughly 2.4% in USA) leaving effective mortgage mid 2 percents. Perhaps the lowest in the world ?

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Re: PRC Economy - New Reflections : April 20 2015

Postby A_Gupta » 02 Sep 2018 08:21

https://www.bloomberg.com/view/articles ... o-a-corner
Trump Paints Xi Into a Corner
The U.S. approach to trade negotiation misunderstands modern China.

The calculus in China’s halls of power, however, is more likely the opposite — doing a deal is simply too dangerous. Economically, Xi portrays himself and the Communist Party as China’s saviors, and he has doubled down on the country’s state-led economic strategy. Most of all, that means his industrial policies aimed at upgrading manufacturing and technology companies, typified by the “Made in China 2025” program. These industrial policies are a primary target of Trump’s demands, since the U.S. believes they give Chinese firms an unfair advantage in global markets.

Xi, though, has almost no ability to negotiate over China’s industrial policies. Not only are they too important to the government’s agenda, they’re very much connected to Xi’s larger political message. That’s why Chinese officials have attempted to focus talks with the U.S. on less sensitive matters, such as deficit reduction. Buying a few more bushels of American soybeans won’t tarnish Xi’s image. Caving to the U.S. and curtailing his industrial program would.

The talks themselves are a diplomatic minefield for Xi. The bombastic approach taken by the Trump administration paints him into a corner. Any major concessions could look like appeasement to Washington’s bullying — and an unacceptable blow to Xi’s prestige. Xi would probably be even more sensitive to such an affront than usual. His highest-profile international initiative, the infrastructure program known as Belt and Road, has come under heavy fire recently. Just this past week, Malaysia’s prime minister told Xi that he planned to defer China-backed projects that were key elements in the Belt and Road package.

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Re: PRC Economy - New Reflections : April 20 2015

Postby chola » 02 Sep 2018 10:24

Huawei is putting up the world’s fastest cellphone chip — a few months after ZTE was nearly crushed by Trump’s ban on US chips. That’s gonna teach the chinis a lesson about relying on amreeki components.

What’s more, the advanced Apple chip slated to match Huawei’s is made in Taiwan by TSMC which is firmly embedded in the chini ecosystem too and had been both willing and unwilling contributer to the PRC’s technology boom. Former TSMC managers and developers are core to cheen’s rising chip industry.

https://asia.nikkei.com/Business/Business-Trends/Huawei-unveils-world-s-most-advanced-chip-to-counter-Apple

Huawei unveils world's most advanced chip to counter Apple

Faster, smarter functions showcase in-house chip designer HiSilicon's progress

CHENG TING-FANG and LAULY LI, Nikkei staff writers
August 31, 2018 17:10 JST
Updated on September 01, 2018 00:52 JST


TAIPEI -- China's Huawei Technologies, which recently surpassed Apple as the second-largest smartphone maker worldwide, on Friday announced what industry analysts say is the world's most powerful chipset for mobile devices.

The move showcases Huawei's advances in in-house semiconductor development and the company's determination to cut its dependence on foreign chipmakers.

Huawei's announcement at the IFA electronics show in Berlin comes two weeks before Apple unveils its new iPhones. The timing underscores Huawei's desire to overtake the U.S. tech giant in both smartphone shipments and chip technology

The Chinese company's new Kirin 980 core processor chipset is the world's first mobile chip equipped with two neural processing units, or NPUs. An NPU enables faster processing power and smarter image, facial, and voice recognition features. Until now, the industry's most advanced mobile chips, such as Apple's A12 core processor for the iPhone X, have had one NPU.

Huawei's new chipset is designed by the Chinese company's semiconductor arm, HiSilicon Technologies -- China's top chip designer by sales. It marks an advance to the 7-nanometer size, which allows more electronics to be packed into each device.

Taiwan Semiconductor Manufacturing Co., the world's biggest contract chipmaker, employs advanced and costly 7-nm production technology and will supply Apple's A13 core processor for the new iPhones.


pankajs
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Re: PRC Economy - New Reflections : April 20 2015

Postby pankajs » 02 Sep 2018 19:08

To do or not to do ...

https://www.merics.org/en/blog/policy-c ... leveraging
Policy in China still puts growth before deleveraging [by The MERICS blog "European Voices on China"]
China will have to sacrifice a portion of its growth if it wants to reduce its dangerous debt burden. Reducing credit growth will almost inevitably lead to an even higher reduction in GDP growth. This is a price the Chinese government is not yet prepared to pay, but it could be forced to act in the medium term if it wants to avoid a financial crisis.

Image
This means that the risk of a series of defaults severely hurting the financial system has grown. The government recognizes the problem and has pledged to deleverage the financial system and contain risks.

That is easier said than done: over the past 30 years credit has mostly grown at a faster pace than nominal GDP, and since the two are highly correlated, both would have to fall considerably for them to converge.

Lower growth levels would not allow the Communist Party to reach its centenary goal of doubling the size of the economy from 2010 levels by 2020.

<snip>

Taking a decade or more to slow down and reform, and also deleverage in the process, might not be possible for a leadership that is unwilling to slow, divert or halt its country's perceived journey towards a brighter future.

ArjunPandit
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Re: PRC Economy - New Reflections : April 20 2015

Postby ArjunPandit » 13 Sep 2018 22:25

their pursuit of growth reminds me of the body builders who keep taking steroids and proteins to build muscles, only to lose the strength of a critcal one. Their debt evergreening and massaged NPA numbers will come to bite them a day very very hard


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