autocanopener
Joined 2 years ago
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Comment · 2 years ago
Comment · 2 years ago
That number is counted whenever citizens travel to/from Hong Kong and Macau. There are people making day trips to/from Hong Kong every day.
Comment · 2 years ago
No, foreign FDI shifted from China to south east asia factories. There's a reason xi Jing ping was begging to share on a 'common dream' when he visited Vietnam this month.
Sure, foreign companies are losing in Chinese auto markets. That's to be expected with Chinese government support of local EV companies, as well as nationalistic fervor. The Chinese auto market is a small one compared to US however. And it's shrinking with China's economic collapse.
Comment · 2 years ago
Let me supply you with some hard knowledge.
China Now Sells Fewer Goods to the US Than Mexico or Canada Do
https://www.bloomberg.com/news/articles/2023-08-08/china-los...
For the first three quarters of the year, China's exports to the U.S. fell by 16.4%
https://www.cnbc.com/2023/10/13/china-trade-exports-and-impo...
Exports to the EU fell 11% from a year earlier to $38.3 billion in November compared
https://apnews.com/article/china-exports-imports-decline-eco...
Comment · 2 years ago
As always, engineers on hacker news have like 2-3 year delay of news out of China. The rest of the world has already moved onto other countries.
1.) "just money coming in"
Outflows of foreign direct investment in China have exceeded inflows for the first time as tensions with the U.S. over semiconductor technology and concerns about increased anti-spying activity heighten risks. FDI came to minus $11.8 billion
https://asia.nikkei.com/Economy/Foreign-investment-in-China-...
Moody’s Cuts China Credit Outlook to Negative on Growing Debt Risks
https://www.wsj.com/finance/moodys-cuts-chinas-credit-outloo...
2.) "the metro system has added over one hundred kilometers of track"
China’s Cities Are Buried in Debt, but They Keep Shoveling It On
China has long pursued growth by public spending, even after the payoff has faded. Cities stuck with the bill are still spending — and cutting essential services.
https://www.nytimes.com/2023/03/28/business/china-local-fina...
China orders local governments to cut exposure to public-private projects as debt risks rise
https://www.reuters.com/markets/asia/china-orders-local-gove...
3.) "we are not growing"
Shenzhen reports decrease in population
The southern boomtown of Shenzhen reported a slight population decrease for 2022 — a first since the city's founding in 1979.
https://www.chinadaily.com.cn/a/202305/10/WS645b514ba310b605...
Comment · 2 years ago
It's crazy that this Chinese EV push will decimate global oil demand, which will collapse Russia's economy faster. But China then has to support/supply Russia with even more war supplies/materials, which I guess make Russia super dependent on China?
But then at some point, Europe (if they're not stupid) will say no more to being economically attacked by China and military attacked by Russia, and Chinese EV sales to Europe collapses...
Comment · 2 years ago
U.S seems to have adopted advanced protection against dumping of Chinese EV vehicles, via the signature climate law and languages in the inflation reduction act. Chinese EV have barely any market adoption in U.S.
Europe is where the potential massacre could be. The Chinese EV still have a small share of the market, but it is gaining. Leave it to brainless Europe to allow China to dump their overproduced EV and kill Europe's entire car industry. Not to mention the profit then gets funneled back into China supplying Russia's war against Europe, making Europe even weaker to fend of China's economic attack. effectively win/win for them.
A subsidy-fueled boom helped build China into an electric-car giant but left weed-infested lots across the nation brimming with unwanted battery-powered vehicles.
https://www.bloomberg.com/features/2023-china-ev-graveyards/