Made in China, for China: Is patriotism the answer to its weakening economy?
With China’s growth target of 5 per cent this year deemed ambitious, the programme Insight looks at the factors behind its economic challenges and whether relying on domestic spending and innovation can steer its economy towards recovery. Faith Leong and Nicholas Deroose, CNA
Another typical angmoh narrative to smear and talk down China's economy as if China's economy is going to collapse. China's economy is the second largest in the world in nominal terms but the biggest in PPP terms. A 5% growth for a US$18 trillion economy is not something to trifle with. It is growing by US$900 billion annually. How many national economies come near to this figure? Singapore's GDP is about US$400 billion! Every year, China grows 2 Singapore GDP!
China's goal of Made In China by 2025 is on target. The China brand is gaining traction in the world stage with Made In China brand becoming a premium brand in many products like EVs, EV batteries, mobile phones, DJI drones, Chinese aircraft, military and civilians, Chinese weapon systems, Beidou GPS, High Speed trains, infrastructures like bridges, highways, dams, airports, sea ports, home electrical and electronic products and chips, 5G, etc etc
On the other hand, American and European products are no longer competitive, in terms of quality and price, and many of these companies are going bankrupt. Even big names like Boeing is going the dodo way. So are all the ICE automobiles and mobile phones, laptops etc etc.
Anyone heard about China bringing home moon samples from the far side of the moon, or about the emergency in the International Space Station where the American astronauts are stranded because of faulty structural problems and may not be able to return to earth?
China's 5% growth rate faltering, in decline? Gordon Chang is now the infamous clown with his silly book about the collapse of China in year 2000. And the bigger joke, many silly clowns are trying to imitate Gordon Chang's narrative. Must be the effect of the US$1.5b budget for writing negative articles about China. If this is so, then not so bad as there is something to gain. What about writing negative articles about China and not being paid at all? That must be stupidity beyond belief.
The Americans are dangling the carrot to pay whoever is writing negative news, lies and disinformation about China. Ask for it, ask to be paid. Don't be silly.
And TikTok, Shein, Temus are gaining market share in the American and European markets that frightened the shit out of the Americans and Europeans.
PS. Japan's economy is tanking by -2.9%.
2 comments:
Actually gordon chang was send by china to hoodwink the west so that china can developed quietly. Since it was suppose to collapse anyway so the west would leave it alone. Our main media was just one of the recipient of americunt propaganda money. So just read it the other way when they report anything bad about china.
When China grows more than 5%, they will say it is all fake statistics. When foreign tourists visited China and made videos of all the progress which they saw with their own eyes, the pro-West shrills claimed those were all fake videos, just like Hollywood Movie Studios making fake sets for movies or moon walks, LOL. When social media made videos that showcased the right side of China, they said they were all paid by the CCP. Hmmm, to them I must also be paid by the CCP as well, LOL.
When China's industries are able to produce goods cheaper, they accused them of having state subsidies. When industries in USA are being given US$ billions in subsidies to attract and keep them afloat, they claim it is for 'inflation reduction' or attracting 'foreign investment' purposes and are not subsidies. They have different definitions for subsidies and different criteria for genocides under their 'Rules Based Order'.
China is not going to waste time countering such lies, but just giving free travel visas for foreigners to visit and see for themselves whether things in China are fakes. That was a very strategic move by letting foreigners counter the Western propaganda machine. Besides saving expenses to counter, this move also enabled China to gain much in terms of foreigners spending money inside China and helping the economy and countering Western lies.
China's move towards encouraging domestic demand is going to succeed, despite the West throwing cold water over the move, raising doubts and claiming domestic spending is in fact contracting. The USA and the West still do not understand Chinese mindsets and thinking and how Chinese patriotism works when it comes to the motherland.
Like all else that China does, do not bet against China. A good example is how China convinced the whole nation to accept a common language, that India is unable to do so. Same population, same language diversity within the country, and yet China pulled it off. What China has achieved in every endeavor is all there for all to see and cannot be denied.
When the USA tried to end Huawei's domination of its telecommunication domination and hoping to kill Huawei, it instead made Huawei even stronger. Huawei's profit growth for the first quarter of 2024 was a staggering 564% with sales growth at 37%.
This will be the trend of the USA's attempt to kill BYD, which will make BYD an even more formidable competitor for USA, EU, Japan and South Korea vehicle manufacturers. Chinese manufacturers have the resources to overcome the odds, with in house supply chains for every component needed to make their EVs. USA, EU, Japan and South Korea car manufacturers have to source components from all over the world to put together a fully assembled EV.
That is the real secret of why BYD can sell cars a quarter of the price of an identical EV from other manufacturers outside China. And the quality is not lacking. Experts in the West have bought a BYD EV and tore it apart reporting that BYD EVs are high quality products and yet at low prices.
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