China Economy Forum

[skullMAN]

Wow! Pretty reasonable pricing! I'm putting one in my cart right now!

I'm waiting MI 4

 

[OrionHunter]

I'm waiting MI 4

How long?

 

[skullMAN]

How long?

launch date 22 July in China
after 1 month launch in india

 

[dray]

My 3 year old LG Optimus1 phone is still doing fine even after massive use & abuse, will this Chinese phone last that long??

 

[he-man]

I would like some audio products like earphones and amps from china in indian market too.

Specifically fiio,vsonic and brainwavz

 

[StarCraft_ZT]

Backward but gorgeous Guizhou

I find 肚包鸡, is it same as 猪肚鸡？

 

[acetophenol]

I am still using my Nokia C5................................

 

[Aepsilons]

Loving my iphone 5s

 

[LeveragedBuyout]

LeveragedBuyout's standard qualification: The purpose of this post is not to insult China or predict its downfall. This post identifies some of the imbalances in China's economy and the repercussions of such imbalances. These kinds of articles help answer the question, "if China's system of state capitalism has done so well until now, why are so many calling for reform and rebalancing?"

Needless to say, I set up a US economy sticky in the Americas section, so please feel free to post similar analysis about the United States if you feel identifying such issues will help us fix our own economy. That said:

Yes, China is Beginning to “Rebalance,” But There’s a Long Way to Go - Real Time Economics - WSJ

• 

• July 17, 2014, 6:27 AM ET

Yes, China is Beginning to “Rebalance,” But There’s a Long Way to Go

Smoke rises from chimneys and cooling towers of a thermal power plant during sunrise in Fushun, Liaoning province.
Reuters
At a packed press conference announcing the release of China’s second-quarter economic data this week, Statistics Bureau spokesman Sheng Laiyun painted a rosy picture. For Mr. Sheng — despite recent signs to the contrary — the “rebalancing” that economists have long hoped for is already underway.

“There is a clearer and clearer bifurcation between emerging and traditional industries,” he said. Though mining and heavy industry are in trouble, he said, services and high-tech manufacturing are gaining ground.

Most economists agree that China’s traditional growth model – based on exceptionally high investment in buildings, infrastructure and manufacturing capacity – has a finite lifespan. Though this kind of investment can drive growth at dizzy speeds, ultimately, demand for such goods starts to run out, at which point further investment ends up being wasted on unused factory capacity and bridges to nowhere. Accordingly, economists have called for a “rebalancing” to try and shift from a more investment-led model to a consumption-driven one.

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The best hope for further growth is the services sector and greater emphasis on consumer spending. As Mr. Sheng noted, service-oriented economies tend to grow more slowly, but also more consistently than those reliant on manufacturing and construction. They are also more labor-intensive, so slower rates of growth can still generate plenty of jobs.

According to Mr. Sheng, over the last two years, China has indeed been transitioning to a more service-oriented economy.

His proof? GDP generated by services outstripped secondary industry (manufacturing and construction) for the first time last year, and continued to grow in the first half of 2014. Consumption also contributed more than half of all GDP growth in the first half of this year. By contrast in 2013, investment generated more than half of GDP growth.

In the Chinese government’s official narrative, everything is going according to plan. The economy is gradually rebalancing away from potentially wasteful investment, and Chinese households are able to consume more of the fruits of growth.

Yet the government’s recent measures to stimulate the economy – which it refers to as “fine-tuning” – risk undermining this welcome shift. Since April, unnerved by a rapidly cooling economy, China’s central government has stepped up spending on railways and low-cost housing and loosened credit.

Total new credit from banks and other lenders ballooned to 1.97 trillion yuan ($318 billion) in June, up from 1.40 trillion in May. With little in the way of consumer credit in China, most of that will fund construction or manufacturing investment.

“There is some mild rebalancing going on,” said Qinwei Wang, an analyst at Capital Economics. “But the current fine-tuning policy is not a good way to deal with the consumption versus investment issue.”

To be sure, policy makers are trying to make sure the funds go to genuinely useful infrastructure, not just white elephants. For example, government agencies have been banned from building new offices, after a rash of fancy new government headquarters sprang up around China.

But with the property market looking shaky and the world’s most extensive high-speed rail network already in place, it’s not clear that building more railways and high-rises is a better use of the money than, say, patching up China’s woeful healthcare system. Such health spending, for example, would show up as consumption in the national accounts.

 

[liaoliaoeryi]

My 3 year old LG Optimus1 phone is still doing fine even after massive use & abuse, will this Chinese phone last that long??

It just shows you are lucky.I have one N7100 samsung,just 2 months begin to black screen and heat.

 

[dray]

No SD card support (16 GB internal only, 13 GB available out of the box)

No user replaceable battery

And single SIM!!!

Plus, many reviews are complaining about poor support and POOR BATTERY, in spite of its claim of 3050mAh battery, either the phone is power hungry, or the battery is not up to the mark!!

And what is the SAR value of the phone?? I cannot find it!!

 

[JSCh]

World’s largest telescope begins installation of main cable net - CCTV News - CCTV.com English
Reporter: Jon Levine 丨 CCTV.com
07-17-2014 11:58 BJT

The Five-hundred meter Aperture Spherical Telescope, known by the acronym FAST, is a radio telescope currently under construction in a remote area of southwest China’s Guizhou Province. It will be the world’s largest and most sensitive radio telescope when completed by 2016. And this afternoon, the first of the main cable net, composed of 9,000 cables, will be installed at the facility.

It’s the size of 30 football fields. The world’s largest telescope stands in Dawodang, Pingtang County, a region featuring typical Karst depressions.

The Karst valley, chosen from three-hundred possible locations, matches the shape of the huge bowl-like astronomical instrument.

The area’s natural geological shape has reduced the amount of digging required by more than 98 percent, resulting in just 540 thousand cubic meters having to be dug out.

With the existence of adequate limestone and dolomite, a subsurface drainage system was formed to channel groundwater out.

To provide better drainage, designers have built a tunnel, which will divert flood waters to the back of the mountain.

This will ensure safe and smooth operations at the facility. The basin has five mountain peaks surrounding the area, which effectively shields signal disturbance.

Meanwhile, the sparsely populated, underdeveloped region will provide a quiet environment for the telescope to operate, which needs to capture electromagnetic waves.

FAST’s main spherical reflector will be composed of 4,600 panels. Its collecting area will be more than 2.5 times that of the 305-metre dish at the Arecibo Observatory in Puerto Rico. The facility, costing more than 100 million US dollars, will allow international astronomers and scientists to discover more secrets of the universe.

It’s expected to enable the surveying of neutral hydrogen in the Milky Way and other galaxies, the detection of new pulsars, and the search for the first stars. The telescope could also help to look for alien civilizations by detecting and studying communication signals in the universe.

 

[Pangu]

High income society is good for country and people. But China must embrace for hollowing up of some of the industries to places like Vietnam, Bangladesh and Indonesia.

The wage increment is long due, so that Chinese can buy the stuff they produced instead of shipping them to USA.

Along with that, the growth of home grown affordable & luxury brands must strive to be accepted by the masses, & hopefully in due time accepted & exported to foreign markets.

 

[Lux de Veritas]

Along with that, the growth of home grown affordable & luxury brands must strive to be accepted by the masses, & hopefully in due time accepted & exported to foreign markets.

人民的钱都去还房贷，不能消费商品，经济自然不好。香港就是这样。

 

[liall]

Good job China