Defence Q&A Is the US or China the world’s economic superpower?

beijingwalker

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Is the US or China the world’s economic superpower?

TBS Report

01 October, 2021, 02:40 pm

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beijingwalker

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Vietnam needs to beat Chinese cities in GDP first, and then they can move to next step to taken on Chinese provinces, after that they can talk about country to country comparison.
 

beijingwalker

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Vietnam needs to beat Chinese cities in GDP first, and then they can move to next step to taken on Chinese provinces, after that they can talk about country to country comparison.
Beating Chinese cities is achievable in the future, after all Vietnam has much bigger population and land and other resources than any Chinese cities. Province part probably can never happen, Guangdong province , which is a neighbor Vietnam (actually Guangdong and Vietnam were the same country in the past, later on in the history, Guangdong joined China) would rank 9th biggest in the world in GDP if taken as a country, beating Canada and Korea.
 

Viva_vietnamm

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Did I say China make it now? do you still remember what this thread is about?
SO how can China is the world’s economic superpower when ur cars, phones etc still rely on Wetern tech (or else will collapse like Huawei phones) and birth rate keep dropping making CN having less labor force ??
 

beijingwalker

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SO how can China is the world’s economic superpower when ur cars, phones etc still rely on Wetern tech (or else will collapse like Huawei phones) and birth rate keep dropping making CN having less labor force ??
I never said China is an economic super power, but US is neither, US depends more on China than the other way around. it's just a discussion, my take is neither US nor China can be called an economic super power, the days of the super powers had gone.
 

Ryder

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Yes, they only allow themselves to test new weapons and but others.

Its not that shows how their priorities are bad. China is developing hypersonic missiles while the USA is too busy wasting its time with lbgt and trannies.

Just like how the Roman Empire became degenerate overtime while the Germanic peoples and the Huns chipped away their empire.
 
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Viva_vietnamm

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I never said China is an economic super power, but US is neither, US depends more on China than the other way around. it's just a discussion, my take is neither US nor China can be called an economic super power, the days of the super powers had gone.
First, u open this thread and ask : Is the US or China the world’s economic superpower? So, u admit that China is NOT an economic super power ??

Sec : US doesn't depends more on China, they can slap 100% tariff on all CN's products export to US, but the problem is that Investors will leave CN to other nations like VN, India etc and still refuse to go back to US like Trump wanted, so if US don't buy products from CN, then she still have to buy from VN, India etc..that why Biden must find out a new way to subdue CN.

No one depend on anything from CN but rare earth, if they don't buy Xiaomi, then they can buy Samsung phones from VN, Nike-tire-auto part factories are already in VN. German-JP cars are far better than CNs car, Huawei 5G is banned etc.

CN is just a nation that stuck into middle income trap like Libya, Argentina and just try to survive when more and more jobs loss due to factories keep moving out of CN and many CN's real easte companies collapse like evergrande, not mentioning CN can't make 5nm lithography machines at least in 10 years, so if US slap chips ban on Xiaomi, then this company will collapse like Huawei phone.
 
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beijingwalker

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Sec : US doesn't depends more on China, they can slap 100% tariff on all CN's products export to US, but the problem is that Investors will leave CN to other nations like VN, India etc and still refuse to go back to US like Trump wanted, so if US don't buy products from CN, then she still have to buy from VN, India etc..that why Biden must find out a new way to subdue CN.

No one depend on anything from CN but rare earth, if they don't buy Xiaomi, then they can buy Samsung phones from VN, Nike-tire-auto part factories are already in VN. German-JP cars are far better than CNs car, Huawei 5G is banned etc.
China also slap tariff in US, investors leaving China? Do you know China gets the biggest FDI in the world again this year? If US doesn't depend on China, China doesn't depend on US either: https://asiatimes.com/2021/10/gobbling-chinas-exports-us-sinks-into-dependency/

Forget about Vietnam, a mere Chinese city can beat Vietnam hands down in economy and trade, it's not worth mentioning for its economy.
 

beijingwalker

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CN is just a nation that stuck into middle income trap like Libya, Argentina and just try to survive when more and more jobs loss due to factories keep moving out of CN and many CN's real easte companies collapse like evergrande, not mentioning CN can't make 5nm lithography machines at least in 10 years, so if US slap chips ban on Xiaomi, then this company will collapse like Huawei phone.
You can claim China is anything, but who will believe you? it's just your wishful thinking, that's it.
 

Viva_vietnamm

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It's an open discussion, no, China is not an economic superpower, neither is US, but this is just my personal take.
Yes, both CN and US are facing too many problems now, specially unemployment rate when CN stuck in the middle income trap like Libya, Argentina

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China: The 'hurricane of unemployment' is coming
• 16:09, 10/22/21

The "debt bomb" of the real estate market, the massive withdrawal of foreign companies, the downturn of domestic small and medium enterprises, the "rectification" of multinational e-commerce corporations. .. is causing this country's labor to fall into crisis.

Two different 'versions' of government and market
How serious is the unemployment problem in China today? There are usually two different “versions” between the Chinese Communist Party (CCP) and the market. The CCP officially announced the average survey unemployment rate for the first nine months of this year was 5.2%, the lowest since 2019.



However, in fact, many foreign companies affected by the policy since the beginning of this year have withdrawn from the domestic market or fired employees to reduce costs. Bytedance - The parent company of the TikTok application is also one of them. Recently, they have confirmed to foreign media that they are laying off employees.

Similarly, many domestic private enterprises have also made the decision to lay off employees, reducing the cost burden in response to the current epidemic and environmental conditions.

Ha Zengyou, director of the Employment Department at China's National Development and Reform Commission, said at a press conference on Wednesday (October 20) that the average unemployment rate in the first nine months of this year was 5 ,2%. Of which, the figure was 4.9% in September, down 0.5 and 0.2 percent year-on-year and month-on-month, respectively. Director General Ha said that this is the lowest unemployment rate since 2019.

In 5 years, 20,000 foreign enterprises withdrew capital from China
Sun Liping, a Chinese sociologist and professor in the Department of Sociology at Tsinghua University in Beijing, said in a recent video that the "wave of unemployment" in China is coming. He analyzed about 5 aspects that make up the wave of unemployment as follows:

1. A large number of workers in the real estate industry were laid off

China is suffering not only because the country's largest real estate group, Evergrande, is in danger of bankruptcy, but also has many other similar "debt bombs". Evergrande is just the tip of the iceberg, a symptom of a faulty economic model, a growth model that relies on leveraged debt, and GDP growth at any cost with ghost cities, no infrastructure. users, abandoned public works…

When China's real estate fell into a stalemate and tangled like a mess, the consequence was a large number of workers were laid off in this field, or fields related to real estate.

2. Massive withdrawal of foreign companies

Within five years, 20,000 foreign-invested companies withdrew capital and production lines out of China and moved to other countries, typically Vietnam. Can we imagine how many workers will lose their jobs?

3. The decline of domestic small and medium enterprises



The outbreak of the Covid-19 epidemic caused the CCP to blockade cities, "freeze" production, disrupt market supply chains, etc., leading to many domestic small and medium enterprises falling into recession or even bankruptcy. . Many businesses were forced to go bankrupt or reduce production, cutting workers, pushing unemployment in China to new levels of tension.

4. Tighten businesses related to the education industry

Mr. Sun Liping said that the fourth aspect is the closure of educational and training institutions related to "off-campus education" not long ago, which has left nearly 10 million people unemployed in this industry. .

The Chinese government's "double reduction" policy - that is, reducing the burden of homework in compulsory education and reducing the burden of extra-curricular tutoring in training institutions (extra-curricular classes) has caused a A series of extracurricular institutions in China collapsed. In which, many educational and extracurricular training institutions went bankrupt, defaulted, and fled. This is also significantly increasing the unemployment rate in the country of billions of people.

5. ‘Rectify’ multinational e-commerce companies

China's tech giants like Alibaba and Tencent both face increased control by the Chinese government, which is concerned about the size and growing power of these conglomerates. The CCP's public punishment of technology giants is said to have affected about 50,000 workers in this industry in China.

“This is a very serious matter,” Mr. Sun Liping said. From a macro perspective, economic growth is reflected in GDP numbers, but for everyone, it is reflected in employment and income. Needless to say, it could be a real start."

Ha Zengyou, director of the Employment Department of the Development and Reform Commission, also acknowledged at the press conference that there are still many factors of uncertainty in the current employment sector. From a macroeconomic perspective, the domestic economic recovery is still unstable and uneven; difficulties and challenges in stabilizing economic activities are increasing, in particular, a decrease in some economic indicators in the third quarter has increased the difficulty in controlling the macro-economy.

The planned economy has recovered, but private businesses are retreating
In an interview, Mr. Jiang, a Chinese economist, said that China's economic entities are currently in an environment where "the state moves forward and the people withdraw"; many private enterprises have lost their former favorable conditions for development and have even become "restricted objects" in the CCP's policy. In short, these businesses are on their way downhill.

"In the past, some big businessmen always had different interest groups behind them. However, the political landscape has changed now. The planned economy is now dominating the market. Whether it's Jack Ma of Alibaba, or other bigwigs (understood as big, important figures), they will all fade away and withdraw from the so-called monopolies, or large-scale enterprises. state power," said Mr. Giang.

Layoffs will make the poor even poorer, and those with jobs will also fall into crisis.


On Tuesday (October 19), ByteDance's management announced on the APP platform at work that the company's commercialization team is being adjusted. The company will pay labor contract compensation to the first laid-off workers at the salary of N+1, and the statutory annual leave will be settled at double the salary. In this regard, the relevant person in charge of human resources of ByteDance told the media that the layoff information is true and is a normal business adjustment of the company.

Current affairs commentator Bi Xin said layoffs can only solve the company's short-term cost savings, but it's not the best approach.

“If there is no labor capacity to generate income, this company will sooner or later go bankrupt. In China, layoffs will increase the workload on the part of people who are not fired. But now it is different. Under the premise of the so-called commonwess, any major layoffs in the future could cause a 'wave', leaving large numbers of poor people even poorer, and few workers employed. crisis due to overload of work".

 

Viva_vietnamm

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China also slap tariff in US, investors leaving China? Do you know China gets the biggest FDI in the world again this year? If US doesn't depend on China, China doesn't depend on US either: https://asiatimes.com/2021/10/gobbling-chinas-exports-us-sinks-into-dependency/

Forget about Vietnam, a mere Chinese city can beat Vietnam hands down in economy and trade, it's not worth mentioning for its economy.
I explained why China gets the biggest FDI in the world again this year in PDF arleady, u can keep saying "Forget about Vietnam" while even your post in PDF said "Vietnam, in particular, is expected to benefit from these supply-chain adjustment" LoL

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FDI CN VN.PNG
 

Viva_vietnamm

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Our economy still increase big time each passing year, unless US , going backward.
We see CN jobless number increase much faster and birth rate still keep dropping fast too LoL
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4. Tighten businesses related to the education industry

Mr. Sun Liping said that the fourth aspect is the closure of educational and training institutions related to "off-campus education" not long ago, which has left nearly 10 million people unemployed in this industry. .
 

beijingwalker

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US doesn't depends more on China, they can slap 100% tariff on all CN's products export to US
Tell us why US hit record high imports and trade deficit with China every passing month, record after record, after this 100% tariff ?

 

Viva_vietnamm

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You explained? it means nothing. facts are facts. your words are very pale in front of facts.
True, facts are facts, FDI come to CN mainly for meeting the need of China's domestic market ̣(Iphone, BMW, Tesla etc). That's what EVEN you also Admit

CN is not a best place for manufacturing exportoriented products anymore due to high labor cost and trade war.

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Specifically, foreign investment will likely become further oriented towards services and meeting the needs of China's domestic market. Meanwhile, FDI previously directed towards low-skilled export-oriented manufacturing will likely continue to be redirected to other Asian countries.

Vietnam
, in particular, is expected to benefit from these supply-chain adjustments, given its close proximity to China, low wages, and participation in trade agreements.

 

Viva_vietnamm

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Tell us why US hit record high imports and trade deficit with China every passing month, record after record, after this 100% tariff ?

Bcs CN stamp down worker's wage to reduce cost, plus even if US don't buy products in CN, then she still have to buy products in VN, India instead like I said.

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Shenzhen tamps down wages with eye on China's manufacturing exodus
City plans first rule change in 17 years as companies chase cheaper labor abroad

https%253A%252F%252Fs3-ap-northeast-1.amazonaws.com%252Fpsh-ex-ftnikkei-3937bb4%252Fimages%252F1%252F0%252F5%252F2%252F35022501-3-eng-GB%252FCropped-16249031592019-09-05T230900Z_1711294473_RC18350B39C0_RTRMADP_3_USA-TRADE-CHINA-MANUFACTURERS.JPG


Workers assemble TVs at a Shenzhen factory. The city plans a major overhaul to stem the rise in wages. © Reuters
TAKASHI KAWAKAMI, Nikkei staff writerJune 30, 2021 14:59 JST
GUANGZHOU -- The Chinese city of Shenzhen will overhaul its rules on worker pay for the first time in 17 years, looking to curb surging labor costs and stem the exodus of companies to cheaper markets in Southeast Asia and elsewhere.
A bustling technology hub, Shenzhen's plan boils down to three main components -- reducing overtime pay for irregular workers, tightening bonus rules and extending deadlines for paying employees.
The Shenzhen government has explained that supporting businesses serves workers' interests in the medium to long term. Employment in China still has yet to recover to pre-pandemic levels, and Shenzhen hopes cutting wages could encourage hiring.

Shenzhen currently requires triple pay for workers who show up on statutory holidays, like the Lunar New Year. Under revisions to the local ordinance on wages, which the Municipal People's Congress began deliberating at the end of May, holidays would pay the same as regular weekdays.
Employers also issue bonuses in proportion to how long employees worked there each year, even if they quit partway through. The Shenzhen proposal will allow companies to set their own guidelines on bonus payments, and potentially not pay workers who were only there short-term.
The city plan would allow the deadline for companies to pay their workers to be extended to the 30th of the following month from the current 22nd, though some local lawmakers are pushing for a shorter extension.

 
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