Xi is losing

Discussion of current events
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cassowary
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Re: Xi is losing

Post by cassowary » Fri Sep 06, 2019 2:07 am

neverfail wrote:
Thu Sep 05, 2019 2:56 pm
cassowary wrote:
Thu Sep 05, 2019 6:15 am
neverfail wrote:
Thu Sep 05, 2019 4:08 am
So you are saying that in HK along with better living standards they have better standards of behavior as well?
Yes. Usually the two come together.
Usually but not always? I agree!

Cass, re. those rather distasteful pictures of the small children (presumably the infant offsprings of visitors/immigrants from rural mainland China): have they not heard of nappies (diapers) up there?
I suppose that’s what they do down in their farms. So habits die hard. I don’t know if they were tourists or immigrants. But such behaviour have made people critical our government immigration policy.

Anyway you can see why the Hongkees see them as bumpkins
The Imp :D

neverfail
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Re: Xi is losing

Post by neverfail » Fri Sep 06, 2019 4:09 am

cassowary wrote:
Fri Sep 06, 2019 2:07 am
Anyway you can see why the Hongkees see them as bumpkins
I can indeed.

However, it would still not stop the mainland bumpkins resenting the humiliating experience as being regarded as hicks. Hurt pride and all that.

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cassowary
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Re: Xi is losing

Post by cassowary » Sat Sep 07, 2019 1:16 am

neverfail wrote:
Fri Sep 06, 2019 4:09 am
cassowary wrote:
Fri Sep 06, 2019 2:07 am
Anyway you can see why the Hongkees see them as bumpkins
I can indeed.

However, it would still not stop the mainland bumpkins resenting the humiliating experience as being regarded as hicks. Hurt pride and all that.
That's right. Some of them compensate by buying expensive watches, clothes, leather goods to show that they got money.
The Imp :D

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cassowary
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What the Hongkees and mainlanders think of each other

Post by cassowary » Sat Sep 07, 2019 1:29 am

The Imp :D

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cassowary
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China's trade numbers tell a sorry story

Post by cassowary » Sun Sep 08, 2019 7:05 am

China's trade figures signal distress signals
BEIJING—China’s imports fell for a fourth straight month in August as a drop-off in exports to the U.S. steepened, the most recent economic warning signs during a prolonged trade spat with the U.S. that has Beijing turning toward stimulus measures.

Chinese imports of everything from raw materials to high-tech products dropped 5.6% in August compared with a year earlier, the same decline as July, the Chinese customs data showed. Although August’s drop was smaller than economists had expected, a downturn in demand highlights the challenges that Beijing faces as it seeks to prop up growth that has fallen to its lowest rate in more than a quarter-century.

Economists regard the stubbornly sluggish domestic demand as evidence that Beijing must move quickly to further ease fiscal and monetary policies. Although Beijing and Washington have agreed to continue trade talks, the chance of a quick end to the trade war seems slim, they say.

Last month, China’s central bank revised its interest-rate mechanism in a bid to improve companies’ access to capital, and on Friday it cut the amount of capital that banks must set aside in a bid to spur lending.

Since the trade war began last year, Beijing has rolled out a series of measures, including tax cuts and more financing for infrastructure projects, to head off an economic slowdown. Last week, China’s cabinet asked local governments to pull forward some bond issuance planned for next year so that investment in rail, parking lots and other public projects can be rolled out sooner.

Given trade uncertainties and slowing global economic growth, Beijing’s priority has shifted to stabilizing economic growth, said Steven Zhang, a Shanghai-based economist at Morgan Stanley Huaxin Securities.

“The government is definitely trying to be pre-emptive to boost domestic demand, with a clear focus on infrastructure,” Mr. Zhang said.

But authorities have refrained from the large-scale stimulus measures that it has turned to in past downturns, in part out of concern that doing so would further inflame concerns about mounting debt and about rising prices for housing and other basic living costs.

Despite the authorities’ tepid attempts at stimulus, business confidence has remained depressed in large part because of the trade uncertainties.

Lei Juan, a representative of Xiamen Jingxin Precision Mould Co., a company that makes LED lights in southeastern Fujian province, said a lack of orders and rising labor costs are hurting the company’s prospects.
The Imp :D

neverfail
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Re: China's trade numbers tell a sorry story

Post by neverfail » Mon Sep 09, 2019 6:29 pm

cassowary wrote:
Sun Sep 08, 2019 7:05 am
China's trade figures signal distress signals
BEIJING—China’s imports fell for a fourth straight month in August as a drop-off in exports to the U.S. steepened, the most recent economic warning signs during a prolonged trade spat with the U.S. that has Beijing turning toward stimulus measures.

Chinese imports of everything from raw materials to high-tech products dropped 5.6% in August compared with a year earlier, the same decline as July, the Chinese customs data showed. Although August’s drop was smaller than economists had expected, a downturn in demand highlights the challenges that Beijing faces as it seeks to prop up growth that has fallen to its lowest rate in more than a quarter-century.

Economists regard the stubbornly sluggish domestic demand as evidence that Beijing must move quickly to further ease fiscal and monetary policies. Although Beijing and Washington have agreed to continue trade talks, the chance of a quick end to the trade war seems slim, they say.

Last month, China’s central bank revised its interest-rate mechanism in a bid to improve companies’ access to capital, and on Friday it cut the amount of capital that banks must set aside in a bid to spur lending.

Since the trade war began last year, Beijing has rolled out a series of measures, including tax cuts and more financing for infrastructure projects, to head off an economic slowdown. Last week, China’s cabinet asked local governments to pull forward some bond issuance planned for next year so that investment in rail, parking lots and other public projects can be rolled out sooner.

Given trade uncertainties and slowing global economic growth, Beijing’s priority has shifted to stabilizing economic growth, said Steven Zhang, a Shanghai-based economist at Morgan Stanley Huaxin Securities.

“The government is definitely trying to be pre-emptive to boost domestic demand, with a clear focus on infrastructure,” Mr. Zhang said.

But authorities have refrained from the large-scale stimulus measures that it has turned to in past downturns, in part out of concern that doing so would further inflame concerns about mounting debt and about rising prices for housing and other basic living costs.

Despite the authorities’ tepid attempts at stimulus, business confidence has remained depressed in large part because of the trade uncertainties.

Lei Juan, a representative of Xiamen Jingxin Precision Mould Co., a company that makes LED lights in southeastern Fujian province, said a lack of orders and rising labor costs are hurting the company’s prospects.
We are all in the same boat on this one, Cass:

viewtopic.php?f=2&t=3605&start=20
neverfail wrote:
Fri Sep 06, 2019 10:14 pm
Consumer weakness is the biggest threat to US economy - By DAVID P. GOLDMAN
https://www.asiatimes.com/2019/09/artic ... s-economy/
9 key countries are on the verge of recession, driving fears the U.S. could follow
https://www.washingtonpost.com/business ... ld-follow/
For now, U.S. consumers are the bright spot holding up much of the global economy. :shock: :cry:
If US consumers are the bright spot then may God help us all!

In addition to the nine: Germany; the UK; Italy; Mexico; Brazil; Argentina; Singapore; South Korea and Russia the Japanese economy is weak and getting weaker too:
https://en.m.wikipedia.org › wiki › Japanese_Recession
Japanese Recession. Japan is currently facing a recession due to many occurring circumstances that have caused Japan's economy to slowly spiral down.
In addition, business confidence is weak in India and it also goes without saying that if the US economy slumps into recession so will Canada.

By now, if you are not convinced that our World is now tottering on the very edge of a global recession then nothing is likely to convince you - short of the recession actually starting.
I do not currently see the PRC's challenges as exceptional as these would currently appear to conform to a worldwide pattern of woe.

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Sertorio
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Re: Xi is losing

Post by Sertorio » Tue Sep 10, 2019 3:19 am

Economic growth depends on an increase in aggregate demand. There is no shortage of demand for goods and services worldwide. The problem with the so-called more developed countries is that they are no longer more competitive than formerly less developed countries, such as China, India, Russia and a few other. Restoring that competitiveness is not going to be easy, if at all possible.

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Doc
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Re: Xi is losing

Post by Doc » Tue Sep 10, 2019 1:56 pm

Sertorio wrote:
Tue Sep 10, 2019 3:19 am
Economic growth depends on an increase in aggregate demand. There is no shortage of demand for goods and services worldwide. The problem with the so-called more developed countries is that they are no longer more competitive than formerly less developed countries, such as China, India, Russia and a few other. Restoring that competitiveness is not going to be easy, if at all possible.
It won't be that hard. It would be much cheaper to manufacture things close to where the markets are

“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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