Frank wrote on Apr 7^th, 2024 at 2:12pm:


Possible.

Since Trump's paranoid trade war and "decoupling" efforts (beginning 2017), unemployment has risen in China.

Any unemployment  in a developing country with 700 million poor people is a disaster. As long as people are employed, they can pay for basic necessities, but the dole isn't enough (of coure the governement can't afford to fund high unemployment among the poor)

But the paranoid West - following mainsteam economic orthodoxy - is trying to deal with its own "rust belt" issues, laying the blame on China's more competitive productive economy.

Deplorable.

freediver wrote on Apr 7^th, 2024 at 2:24pm:


It's not "Xi's economic downturn", it's erroneous mainstream economic orthodoxy which Xi is following, though there is currently much debate among Chinese officials questioning this orthodoxy.  Stay tuned....

Quote:


They do: Detroit is a shadow of its former glory ("the motor capital of the world"), with vast areas of deserted slums (wanna cheap house, local environment not too good...?)   

MeisterEckhart wrote on Apr 7^th, 2024 at 2:40pm:


That's your delusional "freedom" narrative, I'll go with "benevolent authority" seeking common prosperity, until proven otherwise.


Quote:


Provided he follows the party line, and people are satisfied with the government.

Quote:


Those are the voices in your delusional "freedom values" head, plus some gruesome economic orthodoxy tossed in.

As a matter of fact, there exists a growing number of "limitationists" in the West, ie the idea that there should be an upper limit to incomes, if we are to preserve democracy.

Ouch....

freediver wrote on Apr 7^th, 2024 at 2:44pm:


No, I'm saying Detroit's slums resulted from failure of Detroit to compete with Tokyo (and Stuttgart), in an unregulated global free market.

And in similar fashion all over again, China is about to demolish the West's - including  Japan's and Germany's  - EV car industries, hence the US determination to exit free global trade via "decoupling".   

Quote:


By studying economic history, I suggest you do the same.

Quote:


That's because you know nothing about the various schools of economics, much less about dysfunction in global trade and finance.

Listen carefully: "money printing" is a matter for currency-issuing national governments, taking account of the resources available to those governments.

Trade between nations is another matter, we need a reformed IMF to oversee 'fair trade' not 'free trade'. 

Quote:


No; and your premise is wrong as I pointed out.

So correctly speaking,  China's post-Trump slowdown has  external and internal causes.

The internal causes are the result of NOT "printing money" when the nation has the productive capacity to absorb the government's  planned spending (eg on EVs or education, or PV farms).

It's the West's mad orthodox debt and deficit mythology which claims regional government debt in China is unsustainable....a mythology which still holds sway among PBofC officials.  Hence their timid steps in  dealing with the current slowdown in China.   

And mythology which is obviously wrong: if regional  governments are actually able to assemble the workers, know-how and materials to build the wanted infrastructure - which those governments have done, without causing inflation which is non-existant in China, then the national currency issuing government (via its treaury and central bank) can write off those debts.   


Your first lesson in MMT....you know,  the thread  you diverted to 'privatization", in an ideology-driven  act of subterfuge - "FTW".

thegreatdivide wrote on Apr 7^th, 2024 at 3:48pm:


So where exactly is the "failure"? And what does it have to do with the US government not printing money? You seem to change the subject with every post. You don't actually understand or explain everything. You merely have an endless list of slogans to parrot.

Quote:


How is this different to the way I phrased it?

Chinese saying: "Plenty more of us where we come from."

freediver wrote on Apr 8^th, 2024 at 8:44am:



Is there a list?