for a country that grow so fast, its a miracle that China prices are still so cheap. even a factory worker can eat out every night and can still save money to send back to their kampongs and national average saving rate is 40% of wages. its incredible and credit must go to the geniuses managing China.
Total debts = local household + private sectors + local government + central government + GLC
No doubt the central government debt is relatively low. Total debts are almost 300% GDP only 70 years in power.
Ans: With such high debts poor citizens spend all their money to pay debts and no money to spend, this is called deflation. Eventually the spending power is low, more shops and factories are closed. Jobless and pay cut make poor citizens not willing to spend. Bad cycles only CCP members richer and richer with more girl friends and US dollar.
Luckily very few Malaysian kena negative assets. Those CCP supporters may consider to migrate there but need to study chinese. Property there start keep on dropping, you may fulfill your dream to stay in Shanghai and Beijing.
Bank depositors not able to withdraw their hard earned money 1 year from the local government bank only happened in CCP administration, even worse than 3rd world countries.
China cuts lending benchmark rate as economic recovery sputters
The People’s Bank of China cut its benchmark loan prime rate for the first time in 10 months on Tuesday, moving to increase local stimulus measures as a post-COVID economic recovery in the country ran out of steam.
CCP con man asked investors to buy RMB and sell US dollar, CCP and dogs cheated US dollar become toilet paper by Jun this year. qqq is the cheating dog of CCP.
CCP keep on dropping lending benchmark rate RMB, RMB from 6.7 depreciated to 7.1, CCP loves US dollar. CCP and its dog cheated investors to buy more RMB. Very evil.
With inflation under control, China had plenty of policy tools...that is why it is very important all governments keep inflation under control. China, second largest economy in the world, and still is one of the cheapest economy in the world call China prices. It's a miracle and job well done.
Inflation disproportionally hurt the poor and potentially can be a source of chaos and instability. That is why the revolutionary government place such importance in the fight against inflation.
Japan surely handled it's economic crisis better than America on the last 30 years which see chaos, tent cities, anger, the rich getting richer the poor getting poorer.
Investing.com-- Most Asian stocks fell on Tuesday, extending losses from the prior session as concerns over slowing economic growth in China largely offset an interest rate cut by the central bank.
China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell 0.2% and 0.3%, respectively, while Hong Kong’s Hang Seng index shed 1.3%.
The People’s Bank of China trimmed its benchmark loan prime rate by 10 basis points across the board, as widely expected by markets. While the move is expected to unlock more stimulus in the country, it also highlights a slowing economic rebound in China.
CCP sell RMB and buy more US dollar, they love US dollar and enjoy with many girl friends. CCP dog cheated investors.
Warren Buffett boosts investment in Japan’s top trading houses, and investors are piling in behind him BYELEANOR PRINGLE June 19, 2023 at 6:41 PM GMT+8
Warren Buffett’s new favorite stocks have had another boost this week after Berkshire Hathaway upped its investment in Japan’s five biggest trading houses.
Posted by IDQWE001 > 54 minutes ago | Report Abuse
Investing.com-- Most Asian stocks fell on Tuesday, extending losses from the prior session as concerns over slowing economic growth in China largely offset an interest rate cut by the central bank.
the CPC has penetrated every level of society and always ready to serve and organizing abilities that are unmatched, un seen in the world....scared of what?
why is deep state in america so scared of the rise of China? so fearful and lie so much? The main reason is they do not want their own citizens to know the real China.
With record unemployment, China's youth confront bleak job market
BEIJING - Rather than celebrating finishing university, this summer Chinese graduates shared photos of themselves theatrically throwing their degrees into bins, underscoring the bleak outlook as youth unemployment sits at a record high. The jobless rate could rise even further this summer, analysts warned, providing another headache for the government as it tries to jumpstart the country's sluggish post-Covid economy.
With well-paid jobs few and far between, young people told AFP they were opting to remain in university, while others are scrambling for limited government jobs as opportunities in the private sector dry up.
Sampson Li, who graduated this month with a master's degree in software engineering, was looking for work but has given up to apply for a doctorate instead.
The 24-year-old told AFP he passed three rounds of interviews at a major tech company in Shenzhen, dubbed China's Silicon Valley, before the employer said it had frozen recruitments.
"Three other companies asked me to take a lower pay than the market rate," he said. "I can't survive with that salary in this city."
Data released last Thursday by the National Bureau of Statistics showed May's unemployment rate for people aged 16-24 hit 20.8 percent, an increase on the previous record of 20.4 percent hit in April.
Larry Hu, Macquarie Group's chief China economist, warned that the figure could increase further in July when 11.6 million more college graduates start looking for work.
"Corporates are reluctant to hire because of soft consumer demand, while consumers are reluctant to spend because of the weak labour market," he told AFP.
"As a result, policy is the only game changer at this stage."
- State crackdown -
At a State Council meeting in April, Premier Li Qiang pledged to ensure stable employment opportunities for young people.
"We have to take measures to stabilise the scale of employment in manufacturing and foreign trade enterprises, optimise university curriculums, and improve the quality of vocational education and skills training based on the market demand," Li said.
However, a hoped-for raft of stimulus measures for the economy, including help to boost the jobs market, fell flat, as did an interest rate cut Tuesday, which was less than expected.
One of the reasons China's once-freewheeling private sector is seeing much slower growth is because of a sweeping government crackdown on property companies, tech giants and private tutoring firms.
"While Beijing runs a state-led economy, private companies provide up to 80 percent of China's urban jobs," Yu Jie, a senior China research fellow at the London-based think tank Chatham House, wrote.
These sectors relied on "young people willing to work long hours for lower salaries", she said.
Liu Qian, armed with a degree in fintech, has been job hunting for the past six months.
"There were dozens of fintech start-ups when I entered university, but many have disappeared over the past two years after the government tightened rules governing the sector," she said.
"My parents now want me to study for the civil services exam, to see if I can get a job in a state-owned company."
The odds are tough, though.
More than 7.7 million applicants took the civil service exam this year, to qualify for about 200,000 government jobs at national and provincial levels, state media reported.
Frustration over the fierce competition for any well-remunerated work has fuelled the online memes of throwing away degrees, with graduates also posting photos of themselves sprawled on the ground or in various poses of despair.
The pictures are a reference to the now-prevalent counterculture of "lying flat" -- young people rejecting the rat race of urban living for a simpler, less professionally ambitious life.
- Skills mismatch -
There is generally a mismatch in skills possessed by young job seekers and the demands of the labour market, Chatham House's Yu said.
The services sector, for example, remains a rare bright spot with millions travelling and dining out after three years of pandemic restrictions were lifted last December.
But the lack of opportunities for vocational training means young people are ill-equipped to work in it, Yu said.
Many of the jobs that are available are poorly paid and arduous.
Tan Yong, 17, moved to Shenzhen from neighbouring Meizhou last year after dropping out of high school.
He first found work at an assembly line making air conditioners, but was forced to leave after six months when the production line moved to Vietnam.
Now Tan works as a rider for a food delivery company.
"The work is difficult, and we make less than five yuan on most deliveries," he said.
"But many young people don't want to work in factories where you need to stand for nearly seven hours." - Poornima WEERASEKARA/AFP
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by FortuneBull777 > 2023-06-12 15:18 | Report Abuse
Reality!