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China's 2019 GDP was $14.34 trillion

True, One comes to China and see how Chinese developed on the ground would believe Chinese official figure is an understatement, China doesn't want much attention, some say the "hidden wealth" in China can be as big as her real GDP.

My Chinese friend, if you don't brag like the Indians on empty stomachs, nobody will take you seriously, after all, India is now a Supa Powa.
 
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22 trillion worth of paper pushing economy sustained through dollar hegemony enforced by the US military right?
To be honest that's abit biased. The U.S is still a Science, economic, military, technological, innovation, educational, even political/diplomatic superpower. They basically lead in almost every field and they usually set the standard that many countries follow. So saying their economy is just inflated and fake is far fetched. If their economy is all just fake, then no country on earth even has an economy worth mentioning then. LOL
 
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As for growth of existing middle-class spending. This is even less likely. A family with CNY 40-50k income per month already have more things than even people in America.
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Such as?

People who earn six digit annual incomes in USA and can afford live like that only make a last percentile there, in China it would not be a stretch to say the same is true for the top 5-7% of the workforce — few times larger.
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I think you are underestimating income in the US.
https://www.cnsnews.com/news/article/terence-p-jeffrey/292-us-households-made-more-100000-2017

29.2% of U.S. Households Had Incomes of $100,000+ in 2017

While we are not all millionaires there are plenty of well-off people in the US.
Actually a number of us on PDF are worth over a million.
 
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An article i read on Asiatimes.com said that on avg 70% of Asian economies is informal and not "on the books". So those Chinese memebers who said China's real GDP is likely higher are probably correct.
 
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  1. Living in a better piece of a real estate. A 100m² condominium flat of equal quality to ones you can get in tier 1 cities in China costs $5-8k a month in US, and 2-3 times less in China.

    For the price of a luxury rental in US best cities, you can afford to live in a serviced apartment pretty much permanently here https://www.trip.com/hotels/cityname-hotel-detail-29859506/xianglai-executive-apartment https://www.trip.com/hotels/Shenzhen-hotel-detail-22822415/ But if you want to buy... that's another story.
  2. Driving a better car. On the cost-quality ratio, local high-end market sedans give you Benz E-Class experience at only $20-30k. You can't find anything like that in US. And yeah, Buick sucks, I have no idea why locals obsess so much over them.
  3. Can eat out every day. Real restaurant quality food in US is what I can afford here every day.
  4. Medical and other insurance that beat anything USA has on the table 20 times over. It's not as cheap as in Europe, and Chinese medical services far from the best, but still.

    A maxed out serious illness coverage including oncology for 50+ person here costs $500-$700 a month for somebody with good financial history, and is going down. Totally affordable if you saved as a high incomer your entire life.

    For $100-200 a month, you can have coverage for pretty much anything you can get as a healthy person under 40.
  5. Travel and recreation that is simply not there in US. All of SE Asia is within 6-7 hours of flight.
  6. Electronic gizmos that are cheap like dirt
  7. Just any imaginable non-perishable goods that is considered "high-end" in US cost less here, largely thanks to Taobao
  8. Life in a good city is priceless! Find me anything approaching Shenzhen in US! Architecture, infrastructure, social facilities, recreation, greenery, transport, culture and social dynamics here are outstanding. San Francisom is a city sized dumpster fire, and a total hillbilly town in comparison... SF must be levelled to the ground and rebuilt from scratch to fix it. The only cities in North America that are somehow passable for me are Vancouver, and Miami, and they will still be light years away from SZ.
I think you are vastly underestimating income in the US.
https://www.cnsnews.com/news/article/terence-p-jeffrey/292-us-households-made-more-100000-2017

29.2% of U.S. Households Had Incomes of $100,000+ in 2017

While we are not all millionaires there are a plenty of well-off people here.
I meant individual incomes.
 
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To be honest that's abit biased. The U.S is still a Science, economic, military, technological, innovation, educational, even political/diplomatic superpower. They basically lead in almost every field and they usually set the standard that many countries follow. So saying their economy is just inflated and fake is far fetched. If their economy is all just fake, then no country on earth even has an economy worth mentioning then. LOL
I am not saying it is fake, there a jewels in the economy just like soviet system had technological jewels, but the economy now is essentially a casino.
 
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  1. Living in a better piece of a real estate. A 100m² condominium flat of equal quality to ones you can get in tier 1 cities in China costs $5-8k a month in US, and 2-3 times less in China.

    For the price of a luxury rental in US best cities, you can afford to live in a serviced apartment pretty much permanently here https://www.trip.com/hotels/cityname-hotel-detail-29859506/xianglai-executive-apartment https://www.trip.com/hotels/Shenzhen-hotel-detail-22822415/ But if you want to buy... that's another story.
  2. Driving a better car. On the cost-quality ratio, local high-end market sedans give you Benz E-Class experience at only $20-30k. You can't find anything like that in US. And yeah, Buick sucks, I have no idea why locals obsess so much over them.
  3. Can eat out every day. Real restaurant quality food in US is what I can afford here every day.
  4. Medical and other insurance that beat anything USA has on the table 20 times over. It's not as cheap as in Europe, and Chinese medical services far from the best, but still.

    A maxed out serious illness coverage including oncology for 50+ person here costs $500-$700 a month for somebody with good financial history, and is going down. Totally affordable if you saved as a high incomer your entire life.

    For $100-200 a month, you can have coverage for pretty much anything you can get as a healthy person under 40.
  5. Travel and recreation that is simply not there in US. All of SE Asia is within 6-7 hours of flight.
  6. Electronic gizmos that are cheap like dirt
  7. Just any imaginable non-perishable goods that is considered "high-end" in US cost less here, largely thanks to Taobao
  8. Life in a good city is priceless! Find me anything approaching Shenzhen in US! Architecture, infrastructure, social facilities, recreation, greenery, transport, culture and social dynamics here are outstanding. San Francisom is a city sized dumpster fire, and a total hillbilly town in comparison... SF must be levelled to the ground and rebuilt from scratch to fix it. The only cities in North America that are somehow passable for me are Vancouver, and Miami, and they will still be light years away from SZ.
I meant individual incomes.


To be quite objective, life in the US and China are just very different with different pros and cons.

Objectively, the life of the average citizen in the US is much more materially comfortable. The living spaces are much larger, you can easily live in a house with a large yard, most families have two or more cars, life isn't as stressful.

Chinese cities have made amazing progress in the past few years however with building up their infrastructure. However, most people who live in these cities still live in high rises and that can end up being stifling. Of course, Mainland Chinese cities are a lot more modern and have more living space than say, Hong Kong which is a veritable shithole. But still, in comparison to the American suburban life, it's way more cramped and most families would only have one car if they have a car at all.

Of course, the public infrastructure in China beats the hell out of the US by lightyears, there is just no comparison. American public infrastructure is a joke. Subways are old and decaying if the city you live in even has a subway. Outside of NYC, San Francisco, Chicago, DC, Boston, most US cities lack a strong metro system and even in those cities that have it, it's a depressing experience with the grime and crime. But again, the US is nowhere as dense as China so most people can just drive in the comfort of their SUV and get to where they need to.

Life in China is definitely more interesting as there is always something to do and great historic, cultural sites and urban vibrancy are all a short high speed rail line away. Life in the US can end up feeling kind of isolated and dull in that respect.
 
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According to a lot of “economists”, China PRC wouldn't survived 1990s after the collapse of Soviet.
Thats true. PRC survive till now just thanks to US's mercy.

Thats why, when Trump start the trade war and many companies flee to VN to avoid high tariff, CN economy start falling so fast and Xi has No choice but begging Trump for mercy by signing a deal that allow allowing American financial institutions into the Chinese market.

Just look at urself. Its too hard for u to find stable job wt 1,000usd/month now while ur living cost alredy abt 800usd/month in Shanghai,Beijing.
 
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Thats true. PRC survive till now just thanks to US's mercy.

Thats why, when Trump start the trade war and many companies flee to VN to avoid high tariff, CN economy start falling so fast and Xi has No choice but begging Trump for mercy by signing a deal that allow allowing American financial institutions into the Chinese market.

Just look at urself. Its too hard for u to find stable job wt 1,000usd/month now while ur living cost alredy abt 800usd/month in Shanghai,Beijing.
Production started shifting to vitenam india and bagladesh long before trade war.

Altough pace has increased. Relaity is china has now shift its focus from low margin consumer goods to high tech goods. They are market leaders in electronics robotics and 5G.

Do u have any idea what does it means to be market leader in 5G? It means that all of the new tecjnology products has to be compliant with chinese standards rather than US standards.

Regarding debt of china ... compare it with USA ... it is very small.
 
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LOL. CHinese people's congress voted to allow Xi stay in power for as long as he wants, so there is consensus in China for Xi to stay in power, so your opposition to that seems to be the minority in China. To be honest, i dont believe China has a better leader today than Xi. Something you think is an issue due to Xi might be really be something due to timing of China's maturity in the world scene. If your alternative cant do better than the current, then the current is the best and good enough..

The reason why Xi is perfect for the time he was in the reign (last decade) is because the majority of Chinese growth is from industrial sector and manufacturing sector. Xi was pretty good at this due to his academic background.

However, that ship cannot ride forever, and from the US-China Trade war, we can see that once that sector into tipping point (which is now) it is basically can be use as a weapon to attack China, which is fine prior to Trump because Obama thinks like a politician, but Trump is not a politician, he is a businessman, and what he did great is to analyse a country economy and see which part is the weakest link, and then attack that country from there, much like hostile takeover in corporate world. And if Trump stays another 4 years (which is now very likely) Xi would basically be powerless because he was not a business man and he did not have that kind of training, in fact, most of the Chinese higher up did not have that sector of training.

China right now need market specialist as well as economist, because China need to divert to tertiary economy so if Trump pull another stunt like that, China can have something to fall back on.

Do u have any idea what does it means to be market leader in 5G? It means that all of the new tecjnology products has to be compliant with chinese standards rather than US standards.

Actually no.

5G is an international standard, you cannot be "Ahead", there are no US Standard nor China Standard either, they are the same "Standard" that's why they are called "Standard" It's like saying there is a standard for China 4G and then there are a standard for rest of world 4G standard. If that is the case, a phone I buy from China would not be able to use in Australia because that is a different Standard, and vice versa. And I am using a phone I bought in Shenzhen in Australia.

China leading the production value of 5G equipment, but majority of 5G patent was hold between US and South Korea
 
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Production started shifting to vitenam india and bagladesh long before trade war.

Altough pace has increased. Relaity is china has now shift its focus from low margin consumer goods to high tech goods. They are market leaders in electronics robotics and 5G.

Do u have any idea what does it means to be market leader in 5G? It means that all of the new tecjnology products has to be compliant with chinese standards rather than US standards.

Regarding debt of china ... compare it with USA ... it is very small.
Wow, so how many people outside CN bought Hwei 5G phone ?? Below 1%.

Why ?? Cos 5G mean Nothing when the phones dont have Google.

Thats why its too hard for Cnese to get jobs wt 1,000usd/month whie their living cost is already 800 usd/month.CN already falled into Middle income trap.
 
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He changed the law, he will stay there until he don't want to anymore. The Presidential Limit was removed in 2018

I mean 'supposedly'.

I think he will stay for another term since there's no apparent successor in the Politburo at the moment.
 
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