China’s economy defies expectations | DW Business
Vložit
- čas přidán 25. 03. 2024
- China’s economy has performed better than expected so far this year, with industrial output and retail sales both outperforming forecasts. Despite this, the Chinese government is cautioning that domestic demand remains too low. DW Business speaks with Michael Pettis, senior fellow at the Carnegie China Center and professor of finance at Peking University, about how the country can boost consumption at home and restore its image internationally.
Subscribe: czcams.com/users/deutsche...
For more news go to: www.dw.com/en/
Follow DW on social media:
►Facebook: / deutschewellenews
►Twitter: / dwnews
►Instagram: / dwnews
►Twitch: / dwnews_hangout
Für Videos in deutscher Sprache besuchen Sie: / dwdeutsch
#china #economy #industrial
Last two weeks, DW was saying that CHINESE ECONOMY is collapsing. 😂
Germany recently invested heavily in China😂
What if the reason is simply that they don't want to become a service-focused economy and just wants all the factories to stay at all cost?
Very eloquent and knowledgeable speaker. Please have them back on!
It is going to be a monumental task to get people to save materially less and consume a lot more like in other economies . That's going against Chinese culture and habits spanning millennia. Some people say they save a lot because there are no safety nets but if you know Chinese history, even during the golden era of some past Dynasties, this was equally a 'problem'. People saved a lot despite robust safety nets in place.
Great guest! Easy understanding, straight forwatd
Ah.....the good old days. Cheap Russian oil and gas, sell Mercedes, BMW, Audis to those rich Russian thugs and Chinese elites. And all done without restrictions! No wonder that these industrialists are so sad.The good old days are gone forever.
When the people have no basic social-economic securities such as medical service and education, they have to save hard for these experiences.
He is wrong. The Chinese are natural savers. They are rated among the top ten savers countries in the world. Couple with a huge population, their savings will empower their banks
Michael Pettis analysis of China's economy is definitely worth reading up on. Basically, China's issues are structural, where the economy is designed to move money away from its citizens (consumption) and funnel it to investment (savings). "Savings" is not some chinese cultural quirk - they like to spend money as much as anybody. "Savings" is the economic concept for fiscal investment vs fiscal consumption. It's apparently very difficult to change an investment driven economic model to a consumption model.
"China should focus on men delivering food in a wheel and not high tech economy"
Did he seriously say the sustainable way is for people to consume more ?
yes, this is the kind of speaker that gives real insight and futuristic view.
Before, I usually aggree to some of the points by Petis but now majority of them are not making sense and in fact counter intuitive if you want to build a modern economy in this coming century. Since Michael Petis is classically economist with neo classical perspective and have not technical background, I think that's why he's raising some highly mistaken points here that I will be highlighting.
They should bring out that head of lettuce used to countdown the time liz truss was in office.
Germany is so scared of China downfall😂😂
He lost me when he said the high tech sector isn’t that important… it is
They're a nation of clever, thrifty , workaholics with a high degree of cooperation and low crime. As long as they were just making yo- yos, windshield wipers and stuff, the U.S. didn't bother them, but when they moved up to high tech stuff, that's when the Amerikans started messing with them.
That was informative. I like this guy.
when I live in Shanghai, sam’s and Costco supermarket always full of customers everyday, and both of them is America company