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Be interesting to study how many of those kids come from Chinese families that have benefited from cronyism. Wouldn't be surprised if it's > 50%.
Where are these Chinese brand televisions, air conditioners, computers, etc? I have yet to see any of these. They're all American, Japanese, European, South Korean brands.
They're infamous for stealing others designs. I cannot think of a mainstream or remotely mainstream Chinese design.
I'll take a wild guess... shooting for the stars here as to why Chinese students have much less debt...
Cost of living are different? Foreign concept... I graduated a year ago, earn the average wage for a year of a private sector Chinese person in 20 days.
China still has whole empty cities.
They have a lot to worry about for retirement. They're facing a baby boomer problem worse than we are, without the social safety nets we have.
A lot of people seem to think China, still a communist nation, is such a great place, not surprising as Americans are known for their doom and gloom. For some reason, I doubt many (if any) have actually visited China.
China being not good at design is a stereotype that is changing. No one said china will be a great place. You are changing the topic. We are talking about China's competitiveness, influence, and power.
China also protects it's native companies in ways the USA government doesn't and can't. Protectionism may not be free market but it works for China's own industries and people. Lots of Americans want protectionism like stop offshoring and tariffs and unions, but corporations get their say here. You do make more than the average Chinese in absolute value, but realistically your cost of living is higher. In the future, the yuan will rise in value, which then further increases Chinese buying power.
Cronyism certainly is a factor. But buying power is buying power. Finding out why doesn't invalidate the fact.
Last edited by Costaexpress; 05-14-2014 at 03:53 PM..
China being not good at design is a stereotype that is changing. No one said china will be a great place. You are changing the topic. We are talking about China's competitiveness, influence, and power.
China also protects it's native companies in ways the USA government doesn't and can't. Protectionism may not be free market but it works for China's own industries and people. Lots of Americans want protectionism like stop offshoring and tariffs and unions, but corporations get their say here. You do make more than the average Chinese in absolute value, but realistically your cost of living is higher. In the future, the yuan will rise in value, which then further increases Chinese buying power.
Cronyism certainly is a factor. But buying power is buying power. Finding out why doesn't invalidate the fact.
Again, I have yet to find any designs from China other than knockoffs.
Communist and protectionist are similar, but not exactly the same. China protects its companies because it owns a majority share of a bunch of them. That's the only reason I need not to invest in any of them. Corporations have their voice, because many of them are China.
The yuan won't rise as much as you seem to be hinting. China has been keeping it's value down for years, and will continue to do so. If it didn't, it's cost advantage would evaporate. It's happening slowly now, manufacturing has already started migrating elsewhere. It doesn't take much to put a bunch of Chinese out of work.
China has a higher chance of becoming Russia than it does replacing the United States.
China is in the process of pivoting their economy and society. They need to move from their massive crony industrial/infrastructure funding and growth model to the next phase. That being a turn toward the people, supports, environment and consumerism. Of course it will not be easy. In the USA we had WW2 and then phase 2 about 80 years ago. China is approaching that today, and might well be able to compress what we have done in 80 years into a significantly shorter time frame.
There was an armada of those books in the 1980s, too. Only they were about Japan. I don't know anyone who wants to emulate the Japanese economy right now, what with the death spiral they're facing.
What is it going to take for you guys to understand? An enormous real estate bubble and a huge demographic nightmare do not bode well for China. You guys keep indulging in this Polyanna happy talk about the country when the math just doesn't add up. The problems that China faces are structural in nature, not something that can just be overcome with a policy shift or two.
China being not good at design is a stereotype that is changing. No one said china will be a great place. You are changing the topic. We are talking about China's competitiveness, influence, and power.
China also protects it's native companies in ways the USA government doesn't and can't. Protectionism may not be free market but it works for China's own industries and people. Lots of Americans want protectionism like stop offshoring and tariffs and unions, but corporations get their say here. You do make more than the average Chinese in absolute value, but realistically your cost of living is higher. In the future, the yuan will rise in value, which then further increases Chinese buying power.
Cronyism certainly is a factor. But buying power is buying power. Finding out why doesn't invalidate the fact.
96% of China's tech manufacturing consists of parts being shipped in, being assembled, and finished products being shipped out. There is very little original manufacturing taking place there of anything that requires true technical expertise.
It means that with both having aging populations they will depend on it to fund their retirees in time ;more and more.
China will lose 200,000,000 workers in the next 35 years. The United States will gain 50,000,000. The two are in no way comparable. China's demographic issues make our Social Security funding problems look like a short-term cash flow problem.
There was an armada of those books in the 1980s, too. Only they were about Japan. I don't know anyone who wants to emulate the Japanese economy right now, what with the death spiral they're facing.
What is it going to take for you guys to understand? An enormous real estate bubble and a huge demographic nightmare do not bode well for China. You guys keep indulging in this Polyanna happy talk about the country when the math just doesn't add up. The problems that China faces are structural in nature, not something that can just be overcome with a policy shift or two.
I and my references never say China is a slam dunk. Hardly. But the potential paths are there, and their central command can make it all happen on a shortened timeline.
The late '80's were a vastly different economic and information world than today. I remember no armada of books. Back then it was mostly spoon fed to us by the gurus. Information is much easier for most anyone to obtain today.
I and my references never say China is a slam dunk. Hardly. But the potential paths are there, and their central command can make it all happen on a shortened timeline.
The late '80's were a vastly different economic and information world than today. I remember no armada of books. Back then it was mostly spoon fed to us by the gurus. Information is much easier for most anyone to obtain today.
I do. They were offered by the boatload. Every news magazine had feature articles on how Japan was going to eclipse us. Now Japan is in serious trouble. We're talking about a country that is slated to lose roughly 25% of its population over the next 30 years due to a very rapid aging.
And China is undergoing the same kind of trajectory, only more pronounced. The property bubble is bigger, the crony banking practices are more outrageous, and the demographic issues will be more acute. What's more, while Japan had a track record of home-grown industries that were known for stellar manufacturing and innovation, China does not. What's more, Japanese business was far more nimble and did not have the albatross of central planning around its collective neck. Don't think for a second Chinese industry will have that kind of agility given the scores of bureaucrats and apparatchiks involved in the decision making.
I do. They were offered by the boatload. Every news magazine had feature articles on how Japan was going to eclipse us. Now Japan is in serious trouble. We're talking about a country that is slated to lose roughly 25% of its population over the next 30 years due to a very rapid aging.
And China is undergoing the same kind of trajectory, only more pronounced. The property bubble is bigger, the crony banking practices are more outrageous, and the demographic issues will be more acute. What's more, while Japan had a track record of home-grown industries that were known for stellar manufacturing and innovation, China does not. What's more, Japanese business was far more nimble and did not have the albatross of central planning around its collective neck. Don't think for a second Chinese industry will have that kind of agility given the scores of bureaucrats and apparatchiks involved in the decision making.
Ah, you said books. I agree magazines.
I never thought they would eclipse us. But I thought they would prosper more readily than they did. And for too long a time I invested as such.
I think the Chinese central command to be the big difference as compared to Japan. Japan was open and more conventional in the '80's with their fiat. Secretive China can do a whole lot more under the radar of the outside world with theirs. And if they are smart, and lucky it could happen. Or not. Like I said it's far from a slam dunk even they play their cards right and on time.
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