China on verge of worst economic crisis in decades

[ChineseTiger1986]

US do not want to bring down India because we print more greenbacks. We want to ensure we have enough money to pay everyone because of the irresponsible government we have. Trust me, even we would not target Indian economy. As matter of fact, the world would want a healthier Indian economy as India can provide a big market.



I agree with you that SOE would be the next step. But it should be a gradual step to privatize them. Also, they might not privatize some critical energy, aviation or defense sector.

The strategic industries and resources can never be privatized.

But keep supporting the civilian private corporations is another matter.

 

[Masters]

Every has said China will crash for decades but never happened. But a few words from the Fed and the entire house of cards Indian economy came crashing down with their currency collapsing. India has becoming a mere laughing stock with currency collapses, rape problems all over the news, one of the most corrupt regimes in power, etc.

Things are going to bad to worse for India. I would say its got the classic signs of a failed state.

 

[jhungary]

lol If China's economy tanks the whole world's economy will go down with them. I mean countries like Australia totally dependent on chinese consumption of their natural resources. US ( the biggest economy trades so much with China) Without Chinese products the inflation will sky rocket in the whole world. So you better pray for Chinese economy

Not to par take with the title but what you say about Australia is absolutely and totally wrong.

 

[Masters]

Not to par take with the title but what you say about Australia is absolutely and totally wrong.

We put Australia on the economic and investment map. Without our demand for Aussie resources, the Australian economy is finished. It's already falling apart because our demand for resources has slowed.

 

[jhungary]

lol If China's economy tanks the whole world's economy will go down with them. I mean countries like Australia totally dependent on chinese consumption of their natural resources. US ( the biggest economy trades so much with China) Without Chinese products the inflation will sky rocket in the whole world. So you better pray for Chinese economy

We put Australia on the economic and investment map. Without our demand for Aussie resources, the Australian economy is finished. It's already falling apart because our demand for resources has slowed.

Minging is only 16% of our total economic, and we go to us and china more or less equally.

Chinese demand has already diminished, is our economic dead? Not according to q2 GDP report

Please learn something a about Australia before making any comment

Not to mention we had already in the map before the china open their market in late 80s and early 90s

 

[Masters]

Minging is only 16% of our total economic, and we go to us and china more or less equally.

Chinese demand has already diminished, is our economic dead? Not according to q2 GDP report

Please learn something a about Australia before making any comment

Not to mention we had already in the map before the china open their market in late 80s and early 90s

Just look at your currency, it has collapsed since our demand has slowed. When we sneeze, Australia gets pneumonia.

We were the ones that put Australia on the global map for investors. Australia is just an indirect play on the China growth story. No one invests in Australia because of Austrakia itself. Before our rise, Australia was irrelevant.

 

[jhungary]

Umm... Collapsed?

When we still traded more than 1: 5.6277 to rmb

You sure you get the fact right at least?

Our dollar is still stronger than yuan, where you see the "collaspe" you said?

 

[Masters]

Umm... Collapsed?

When we still traded more than 1: 5.6277 to rmb

You sure you get the fact right at least?

Our dollar is still stronger than yuan, where you see the "collaspe" you said?

The Renminbi is getting stronger everyday.

The Aussie was stronger than the USD only a few months ago, around 1.07, now it's around 90.

The renminbi is only increasing in influence.

 

[faithfulguy]

Umm... Collapsed?

When we still traded more than 1: 5.6277 to rmb

You sure you get the fact right at least?

Our dollar is still stronger than yuan, where you see the "collaspe" you said?

This could be due to that fact that Yuan has limited tie to the USD. And Australian dollar do not. So when US currency depreciates, Australian dollar would go up higher vs USD and also Chinese Yuan.

 

[jhungary]

The Renminbi is getting stronger everyday.

The Aussie was stronger than the USD only a few months ago, around 1.07, now it's around 90.

The renminbi is only increasing in influence.

You use the word collapse, our currency rise not because of rmb support, rmb is not even an international trading currency, so tell me with your amazing economic knowledge, exactly how RMB influence Aussie dollars

No, our currency is depreciated not because of a stronger US dollars and not because the economic inside Australia, not import and export. Our currency depreciated because of a strong yuan....

Man, you are funny

This could be due to that fact that Yuan has limited tie to the USD. And Australian dollar do not. So when US currency depreciates, Australian dollar would go up higher vs USD and also Chinese Yuan.

Indeed it has, Australia dollars depreciates because of a stronge dollars and people are more willing to trade with usd instead of aud so the demand of aud is relaxed. Hence the depreciation

That mean the us economy have improve at a rate better than Australia

 

[Masters]

When our demand for your resources slows, our demand for Aussie dollars goes down. Investors don't buy Aussie denominated assets. This is why we control the Australian economy.

The Renminbi is now the 9th most transacted currency in the foreign exchange market.
The Renminbi is also the 14th most used currency for payments.
By 2020, RMB will be the number 1 currency.

It only takes us 6 or 7 years to be number 1. Once we make it easier for corporations, individuals and investors to use RMB, it's use will skyrocket.

Our currency is still HEAVILY controlled and people are desperate to use it. There is MASSSSSSSSIVE demand for our currency globally. They want to buy and hold RMB denominated assets. Even RMB use offshore is skyrocketing.

All it takes is a bit of financial reform on our part and the RMB will be a reserve currency very very quickly.

 

[American_Millenium]

You are debating with the 50 Cent army of China - paid internet trollers of the Chinese government and not the common people there who are too afraid to express their opinions on net as everything including the internet is very tightly controlled. The 50 cent army is arrogant, spews venom and is like a swarm of bees. Hardly 2 visitors on this site from China are not paid to comment.

The USSR was not a paper tiger in the sense China is still today. The USSR was far behind the West till 1939 and on top of that was utterly destroyed in world war 2. Yet within 7-10 years by 1952, it recovered on its own without any foreign aid and was challenging its rival, USA which had a 10 times bigger economy, in every sphere of science and technology unlike China which is still 30 years behind in military tech and does not dream big.

It is interesting that the Soviets were able to give us a run for their money even with their horrible political and economic system.

It's worth mentioning though, that the USSR economy was always around 1/3 to 1/2 that of the United States. Only in the 1980's did they lose that advantage. Their population was also, in many years, equal to or larger than ours. They never had an economy 1/10th our size, that's for sure.

As for the Chinese, they are right now where the Soviets were during their best times (GDP wise), but are not yet challenging us in the technology realm.

 

[American_Millenium]

So what? The SOE is not for the purpose of making profit before people.

BTW, the US irregulated capitalist is definitely the biggest problem in the world, making profit from numerous wars and the Wall Street scam. You can't lecture people with your own agenda.

The only capitalism that China will go after is the state-capitalist.

LOL, we actually lost money in the numerous wars we've fought. We didn't stand to gain anything by overthrowing the genocidal Saddam regime, or upholding democracy in Vietnam. Our fault for trying to be Humanitarian; in my opinion we should focus on our own problems and only defend our interests overseas.

Our capitalism built what you see today; yours has given you a medium standard of living, and no innovation to speak of. I wonder why South Korea and North Korea look the way they do. One is Marxist-Leninist, the other American-style capitalist. Japan and Taiwan are largely the same. What happened that pushed China so far behind the rest of East Asians??

Try to answer that question without making accusations of "evil Western White imperialist colonialists" (blah blah blah!)

 

[Developereo]

excess capacity is plaguing major manufacturing industries (such as steel, cement, automobile, solar panel, wind turbines, and many others)

The solution is to spur domestic demand and I expect the Chinese government is working on that.

However, it is also a cultural change because Chinese (like other Asians) are not as consumerist as the average Westerner. Perhaps the Chinese can study the American marketing revolution in the 1950's which spurred consumerism in America and the West.

 

[AMCA]

America has already stolen it and given them papers.

They still have the largest dude... American Bonds wont sell in China