[sgbuffett]

Last year, China generated twice as much electricity as the US, produced 12.6 times as much steel and 22 times as much cement. China’s shipyards accounted for over 50% of the world’s output while US production was negligible. In 2023, China produced 30.2 million vehicles, almost three times more than the 10.6 million made in the US.

On the demand side, 26 million vehicles were sold in China last year, 68% more than the 15.5 million sold in the US. Chinese consumers bought 434 million smartphones, three times the 144 million sold in the US. As a country, China consumes twice as much meat and eight times as much seafood as the US. Chinese shoppers spent twice as much on luxury goods as American shoppers.

https://asiatimes.com/2024/06/whats-the-...s-economy/

[sgbuffett]

Once in  a while we see this type of purchasing parity reports that seems to suggest China economy is much bigger than US.

We should be cautious because this way of measuring also suggest Malaysia economy is much bigger than Singapore's and  Russia economy is larger  than UK.

Usually what is missing from the calculation  is capital goods in a fiancialised economy.  UK is a financial center but Russia is not. So is Singapore as the largest financial center in the region. Billions of banking, investment  insurance and lending activities is left out as if the financial sector does not exist.

China economy if well managed and properly reformed.with development of its financial and capital markets will for sure overtake US in the future.

While in recent yrs it took steps.backwards and faces structural issues, and reforms stalled....the potential for progress remains

[teaserteam]

Overproduction will cause trade deficits, raising trade tensions, and eventually leading to trade wars, which could escalate to physical wars with other countries.

[winbig]

Population of USA is around 4 times less than China and yet China only consume twice as much. From this we can see how much the consumption is per person in the US is as compared to China.

[sgbuffett]

Overproduction will cause trade deficits, raising trade tensions, and eventually leading to trade wars, which could escalate to physical wars with other countries.

China depends on EU and US to absorb its exports...but maintain  poor relations with them. Instead Xi pivot to Russia and support Russia in its Ukraine invasion a threat to the rest of Europe.

Xi also for.political reason cozy up to Iran ....a bad actor in middle east that supports terrorist groups.

When EU or US does something unfavourable to China, the China fans would scream and whine
...
But you look at the situation objectively, Xi took China in a harmful path pitting against its biggest trading partners. Yet it wants them to keep doors open to help China exports.

[red3]

It means it has to feed other people stomachs and feed own stomach la

[Sticw]

ISLM model at global stage mah. USA is a consumption based economy, China is a production based economy. The accounts balance such that producing countries net surplus whilst consuming countries net deficit. If there isn't a USD global currency position, USA would have bankrupted long ago with every other producing country taking a portion of USA land and everything else. That USD position is what's keeping USA afloat all these years, signing away IOUs for consumption and printing more of that IOUs without the need to back up the claim of value.

That is also the reason why USA continues to want chaos in the world so they continue to be the global police and that USD remains as the global reserve currency.

What Anwar said about the west (he was simply talking about USA) is true. IE we are not in WWII anymore, every country has their own right to speech and action. Why should a dictator (swift system, USD position etc) call the shots? Countries that are bet producing should in fact be valued more than countries that are not competitive in producing goods and services. Of course the devil is in the details and we have to credit to invention and copyright etc (knowledge based outputs).

USA will fiercely defend USD as the international trading currency lah.

[WhatDoYouThink!]

Alamak let china win a bit why you so unhappy?

So today you'll go out to look for jobs or cheap durians?

[Clyde]

Wow! So much baseless accusations. "Pivot to Russia, support Russia, supply military weapons to Russia, cozy up to Iran " all by ah butt, eu, nato, us etc. All they want is China must be enemy with them and not allowed to stay neutral. If Singapore also stays neutral, will we be in danger too?

[WhatDoYouThink!]

China is like a thorn in their butt. Duno why china was created to make their lives so miserable

[aiptasia]

Sgbutt likes to play armchair economist games while staying in his mother's spare bedroom flat and being unemployed.

LOL!

[teaserteam]

China depends on EU and US to absorb its exports...but maintain  poor relations with them. Instead Xi pivot to Russia and support Russia in its Ukraine invasion a threat to the rest of Europe.

Xi also for.political reason cozy up to Iran ....a bad actor in middle east that supports terrorist groups.

When EU or US does something unfavourable to China, the China fans would scream and whine
...
But you look at the situation objectively, Xi took China in a harmful path pitting against its biggest trading partners. Yet it wants them to keep doors open to help China exports.

Japan exercises restraint when there is trade tension and they continue to grow.  If China is going in the opposite direction,  lit is likely to see negative results. In times of crisis, it helps to maintain good relations with other nations.

https://www.bloomberg.com/news/articles/...ides-boost

[wulala]

US population = 330m
China population = 1.4b

how this finding gather the stats? by per pax or by country? if by country, then I think US consume more base on the population.

[WhatDoYouThink!]

Sgbutt likes to play armchair economist games while staying in his mother's spare bedroom flat and being unemployed.

LOL!

Without proper education on econ, he doesn't know what it's about and often misguided by mis and disinformation he came across on youtube.

[Blin]

Last year, China generated twice as much electricity as the US, produced 12.6 times as much steel and 22 times as much cement. China’s shipyards accounted for over 50% of the world’s output while US production was negligible. In 2023, China produced 30.2 million vehicles, almost three times more than the 10.6 million made in the US.

On the demand side, 26 million vehicles were sold in China last year, 68% more than the 15.5 million sold in the US. Chinese consumers bought 434 million smartphones, three times the 144 million sold in the US. As a country, China consumes twice as much meat and eight times as much seafood as the US. Chinese shoppers spent twice as much on luxury goods as American shoppers.

https://asiatimes.com/2024/06/whats-the-...s-economy/

The rise of middle class. Easy to understand

[sporeguy]

My advice to sgbutt amd his lapdog teaserteam - if you are not trained in economics don't try to show off - this thread started by sgbutt & gleefully sucked in by teaserteam reflects simple mind, their lack of knowhow in Economics, and both suffered from inferiority complex! By showing off their limited knowledge on Economics and Politics truly reflects their desperation to be noticed and accepted by the community here! Really sad!