Made In China Only: China Looks Domestically For Growth But Will It Succeed? | Insight
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Whether by choice or circumstance, China is looking inward for its economic growth.
President Xi Jinping wants Chinese consumers to spend their way to growth, buying up domestically made goods. At the same time, the government will invest more in “New Productive Forces” - A.I, Green Tech and Advanced Computing - all for the goal of moving up the value chain and shedding China’s reliance on foreign technology.
In this period of “de-coupling” and trade wars, Beijing might have little choice but to become more self-sufficient. Yet, an overly inward-looking and nationalistic China could discourage foreign investors. Are domestic consumption and production enough to jumpstart China’s sputtering economy?
0:00 China’s challenging growth target
5:10 China’s property downturn
7:00 New productive forces
10:44 Made in China 2025
12:10 China’s nationalistic consumerism
22:20 Navigating nationalism
24:50 China’s electric vehicle market
26:08 Claims of overcapacity
28:27 China seeks new export markets
33:30 China says it's open for business
37:09 Low spending and deflation
42:45 Can China reach its growth target?
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@MGZetta 14 күн бұрын
I can feel the "but at what cost" energy in the title. Lmao.
@M3.Lorenzo 14 күн бұрын
They ran out of anything substantial to bash China with 😂 Now they're resorting to these baseless fear-mongering tactics... what a shame
@longcimb 13 күн бұрын
CNA is pro West media owned by Spore media group. These group is singing the tune of the Spore govt...remaining a US support but also wants to carry US direction. Well we will see how it maneuver the tides...Spore should not be admitted to BRICs
@longcimb 13 күн бұрын
CNA can delete my comments....it is a US spokesperson
@raymonddon8875 13 күн бұрын
today china is doing all that is correct... will own this blue planet, moon & mars in 20 yeras!
@xxoo-lp6vc 12 күн бұрын
😂correct, standard western midia. Channel News America
@windsong3wong828 14 күн бұрын
If you have been to Japan, you would notice that most of the brands there belong to japan. China should do the same. If chinese don’t support chinese companies , who would ?
@lesliegrace8360 14 күн бұрын
What are you on about? Maotai? BYD? Luckin Coffee?
@SpyFromMarsZeus 14 күн бұрын
@@lesliegrace8360 He is literally quoting what Japanese said, Japanese are more patriotic than Americans when it comes to purchasing.
@iggy5347 14 күн бұрын
American first is the same too
@lesliegrace8360 14 күн бұрын
@@SpyFromMarsZeus No. I am quoting his remark that chinese don't support chinese companies.
@serriajohn 14 күн бұрын
@@lesliegrace8360 Lenovo Group acquired Japan's NEC notebook business; Haier acquired Sanyo's white goods business; in 2016, Midea acquired Toshiba's white goods business, holding 80.1% of the shares; in 2017, Hisense acquired Toshiba's TVS business for 12.9 billion yen, holding 95% of the shares. ... There are countless examples.
@chensweeyew454 12 күн бұрын
China is collapsing, according to the legendary Gordon Chang 😅😅😅
@buravan1512 11 күн бұрын
CHINA have been collapsing since i was a Teenager, now i'm 40... and CHINA is still standing...😂
@lilianlee7078 11 күн бұрын
Gordon Chang is anti China so he will always demonize China!
@ssss8162 10 күн бұрын
And various other "experts" touted by CNA
@laosasean8482 10 күн бұрын
Fukkking Gordon Chang self hates Chinese because he aging so horribly because China don't collapse! LMAO
@rahulborntobewild 10 күн бұрын
@@buravan1512 How China rose in just 10-15 years. Your math is already all over the place. But China wont collapse just stagnate
@huanghermann5207 10 күн бұрын
It is simply high time for Chinese people to buy their own brands because their quality is good enough. It is that simple.
@covertpuppytwo3857 7 күн бұрын
The same for the Western world.... it's time they begin boycotting "made in China" and Chinese brands... it is that simple.
@garrya7576 7 күн бұрын
It's not about a quality of a country. A manufacturer does not have quality but they produce for order. If you want to order from a Chinese factory, you can't choose from their stock, but they'll ask you how much you wanna pay, what material you want, what design you want, what size you want, what density you want etc... then after you tell them what you need, they'll say if they can produce it or not and if they can, they'll tell you the cost. In this case, the quality is the responsibility of the importer not the Chinese. They don't care what you want whether it's low quality or high quality. They'll simply produce according to your requirements. This, almost no one understands. For instance, if you want to buy fibre pillow, you decide what size, what weight, what filling, what density, what colour etc you want, and they will produce it. If you want a standard sized fibre pillow, 800 gram weight, whatever density it may be 1.6 USD per piece. But if you want better, you may tell them to fill it with higher density fibre, fill more and the price may rise to 3 USD. It's entirely up to the importer. I hope this is clear. Of course there are certain limits both ways.
@grastlos1 7 күн бұрын
@@covertpuppytwo3857 Like you own anything from a Chinese brand?
@urimtefiki226 7 күн бұрын
@@covertpuppytwo3857 It is time for both Western world and China to boycott my algorithm. But both of you benefit from my algorithm for already five years and paying nothing like you have made the invention yourself. I am poor beacuse of plundering from both of you.
@TheVikingmythology 4 күн бұрын
It is simply high time for NON-Chinese people to buy their own brands because their quality is good enough. It is that simple.
@godzillamothra5983 11 күн бұрын
Choosing a better product, even if it is local brand, is not nationalistic, it is logical. The losers want to make this a geopolitical issue, but it is not, it is just business. Chinese EVs are miles away better than the foreign legacy auto can offer. Is it nationalistic for Chinese consumers to choose a better EV cars from local brand?
@zazhou 10 күн бұрын
Capitalists say competition is paramount and necessary and produces better products for the benefit of the consumer. Go figger!
@passby8070 9 күн бұрын
Absolutely!
@gardencity3558 8 күн бұрын
"Chinese EVs are miles away better than the foreign legacy auto can offer." On what, price only? They're also notorious for catching fire. To try an cast China as the "new" Japan is silly at best.
@covertpuppytwo3857 7 күн бұрын
"Chinese EVs are miles away better"... says every little-pink but not the professional in the industry!
@user-gn8nf7fv1t 6 күн бұрын
@@gardencity3558 I bought a Leap motor C11 last summer, a Chinese-made Ev, and loved it... It's easy to drive and it's smart, and you probably haven't heard of it, but the fact is that according to the Fire Department, the spontaneous combustion rate of electric cars is lower than that of oil cars, and your bias doesn't change that
@user-ew5eh2co5p 11 күн бұрын
China was more than self sufficient until mid 1850. She had the world’s top gdp. Famines and internal turmoil with a corrupt government destroyed her. Looking back in history, China is the only country in the world that dominated in innovation and production at least 4 to 5 times with different dynasties. This is just history repeating itself.
@nelsonc3984 3 күн бұрын
Yeah, corruption is what distroyed many countries.
@brookli8503 13 күн бұрын
Very refreshing to see the perspective of a news source that is not US or European.
@MacrosFTW 12 күн бұрын
CNA practically copies the same talking points as American news so not really. Dont let where CNA is located fool you.
@ssss8162 10 күн бұрын
CNA is pretty much US propaganda backed by Singaporean state media
@biswanathmukherjee4622 8 күн бұрын
CNA's reports do not impress me as they wear a Western lens to see things with a colonial mindset to suppress Asians as a whole.
@serriajohn 14 күн бұрын
many people do not know that Wuling and Baojun mini EVs are joint venture, USA General Motor holds 44% share, Shanghai Auto holds 51% share.
@lovefromhuang 13 күн бұрын
可乐，中粮有一半股权，麦当劳一半股权也是中国国企
@AlejandroPikoulasPlata 7 күн бұрын
I visited Shenzhen last April and it's an incredible city, I hope China keeps this level and improve even more. Thank you so much CNA Insider for this interesting dossier.
@the0neObserver 14 күн бұрын
Let's go Asia, you may not be known as pioneers but as the most powerful innovators for the good of human kind. Don't listen to fake news from jealous sour grapes.
@jovimathews 13 күн бұрын
Do you mean China? Because the news is about China, not Asia. 😂
@the0neObserver 13 күн бұрын
Back in the 80s, Japan overtook the US in chips/electronic, it got sanctioned, blocked and banned. When Malaysia or Indonesia got ahead in the export of palm oil, nickel, bauxite etc, sanctions, ban and embargoes follow suit. EU banned Thailand fishing industries, even oil products from Russia to any country in Asia will get sanctioned, such as naphtha to Singapore. We may not be like china, but they'll find an excuse no matter what.
@duongquynh8129 13 күн бұрын
For the good of human kind?? China?? No, all achievements this country have had until now came from bullying and using dirty tricks for just its OWN sake. Oke?! The more this country grows, the more smaller countries must suffer
@nueat6 12 күн бұрын
@@the0neObserver Japan's actions, portrayed as innocuous, were in fact marked by unfair trade practices, including dumping and intellectual property theft. You imply that rather than originating novel inventions, Japan's contributions primarily involved reverse engineering, or outright stealing, technology to facilitate mass production. This mischaracterization underestimates the complexity and ethics of their industrial advancements.
@bondnikunj 12 күн бұрын
Yes true
@basque888 11 күн бұрын
China is big enough do both. One doesn't spend over $1Trillion on overseas infrastructure, under the Belt and Road Initiative in over 100 countries, to "look inward for domestic growth".
@gardencity3558 7 күн бұрын
It's well dcoumented by now most of these are " White Elephant" projects. Most of the money is lost to corruption and the work very shoddy.
@briandong5293 13 күн бұрын
Products have been dropping for a while now. A lot of foreign brands are becoming more and more uncompetitive against Chinese ones which is why they are moving out some of their factories
@user-sf1nq9uj7p 2 күн бұрын
A lot of foreigners in foreign businesses want to become overnight millionaires and that's why they put a high price on their goods and services beyond reason - especially when the market (ie paying customers) is willing to pay the asking price without much of a protest (well, they may protest but at the end, pay up any way). However, when China steps in,. those "would-be overnight millionaires' are the ones who start screaming because their dreams of becoming rich overnight have suddenly turned into a nightmare.
@elielee7364 8 күн бұрын
As an overseas Chinese educated in the West, I put Chinese products first.
@LA_Home_Deals_Texas 7 күн бұрын
Are you sure bc your English doesn’t reflect Western education.
@grastlos1 7 күн бұрын
@@LA_Home_Deals_Texas She probably studied stem and not something useless like English.
@antoinestudio1062 4 күн бұрын
@@LA_Home_Deals_Texasmost Europeans don’t speak perfect English and yet they are still in the west
@user-sf1nq9uj7p 2 күн бұрын
@@LA_Home_Deals_Texas I have interviewed many Westeners - your typical Anglo-Europeans - born and bred and educated in their own English-speaking homeland, graduated from local colleges and universities - unable to write legibly, spell correctly and compose a simple sentence in ENGLISH or do simple ARTHMETIC (the four functions) for crying out loud without resorting to a calculator. Yup - Western educated all right.
@ForTheFLOL 21 сағат бұрын
If china is so great, why are you studying in the West. Also, you proved that you can take a brainwashed chinese communist out of china, but you can’t take the chinese communist brainwashing out of you.
@kamwaichan8048 12 күн бұрын
The US promoted, the US 1st. China can always do the same, China 1st.
@joonwonlee1567 7 күн бұрын
China is worst
@jameslee7712 2 күн бұрын
Lol. Good luck China.
@user-sf1nq9uj7p 2 күн бұрын
Except China has not promoted itself as "China 1st". It can't care less who is "1st" as long as her own people are cared for and continue to be uplifted to enjoy all that life can provide - in having enough to eat, a roof over their heads, clothes to wear. enough earned to save and their children have bright prospects for a future while the country lives in peace and harmony with no interference from foreigners..
@happymelon7129 12 күн бұрын
1-3-2024 World Bank research shows that for every 1% point decline in China's gross domestic product (GDP), Singapore's GDP will fall by 1.3%, Malaysia's GDP will fall by 0.7%, and Indonesia's GDP will fall by 0.6%. China is an important locomotive and development partner in the region, so changes in global geopolitics have triggered regional shocks.
@happymelon7129 12 күн бұрын
American saying: I owned a cosmetics company - one of our best selling products was discontinued. I contacted the company and said "This sells REALLY well in Am3irc4" they said we have more CUSTOMERS in China than the US has people. This was about 2013 - when I realized the world was CHANGING
@garrya7576 7 күн бұрын
If you want to pay more, you'll find the right manufacturer. As simple as that. They make for order but if you want to pay little, they may reject you. I had the same issue before.
@ichifish 5 күн бұрын
The question I have is whether the focus on Chinese domestic products will create the same conditions as it did for Japan (where I live). When Japan shifted away from low-cost manufacturing, and like the Chinese now, people took pride in their domestically-produced products, many of those products became tailored to the Japanese consumer. This made them less competitive overseas, particularly in the US.
@teckmenglee8060 14 күн бұрын
My entire family switched to Xiaomi from iphone too. Iphone is simply too expensive and forced you to keep purchasing apple products to get enhanced value.
@darthvader4209 14 күн бұрын
Obviously you and your family ain’t Apple’s target customers. And if you could afford it, you would have switched to 华为 instead of Xiaomi, the penultimate 山载 brand
@HKim0072 14 күн бұрын
That’s a feature not a bug. Some of us like the closed system. Don’t want to get hacked and have to worry about spotty performance.
@Devilishlybenevolent 14 күн бұрын
@@HKim0072 LMAO Apple gets hacked constantly too. I've been using Androids my whole life, never hacked a single time. I'm surrounded by apple phone friends and you know what I notice? Their phone is shittier AND 3x the price of my phone for the same performance. They're just brainwashed consumerist who are mindless brand loyalist regardless of how good or bad the phones actually are.
@lingth 11 күн бұрын
@@darthvader4209for ppl outside of China, the dependency on Google Apps is still high, even this channel, on KZfaq is a Google app.. so it's not so easy to buy Huawei, for ppl outside of China.
@sofiamargaretha8786 11 күн бұрын
Xiaomi is better quality than Apple. The battery of iPhones are easy flat and dropped. But Xiaomi is very last❤
@roro4787 14 күн бұрын
I think ASEAN will benifit a lot
@lesliegrace8360 14 күн бұрын
No free lunch
@sfjava6239 14 күн бұрын
ASEAN economy is doing well because of China.
@HasteAdventures 13 күн бұрын
Soon china will engulf ASEAN and put 30 dash line. Owning the Whole ASIA.
@thevulcan2011 13 күн бұрын
Not as what you think. In trading relationship with China, most of Chinese import is raw material as the input for their industry. In return they export good to the other. In fact there is no country has trading surplus with China unless they sell massive of naturr resources. This relationship will slowly kill your domestic manualfacture. There is no country can beat their massive production line, produce product cheaper than what they do. The whole point of what China improve relationship around the world is to find the consumer market for their good.
@kongwee1978 13 күн бұрын
@@thevulcan2011 In most ASEAN like Singapore, buy from China sell to US/EU.
@timothyshiu2263 11 күн бұрын
Make more products and sell everyone everywhere, not just one place, if we all want cheaper and better products.
@hoongchen8103 12 күн бұрын
China has done allot for her people, she uplifted 800 million people from poverty
@666yaoz 8 күн бұрын
Yeh, but if Mao didn't exist, then the 800 million would have never been in poverty
@doujinflip 8 күн бұрын
The "poverty" Beijing keeps pitching is the extreme dollar-a-day type, which any government with global trade access can overcome. Former Premier Li Keqiang revealed that like half of China is still in effective poverty, earning less than $150/month and practically unable to afford rent on their own.
@covertpuppytwo3857 7 күн бұрын
40% of China's population earn less than $5 a day...
@grastlos1 7 күн бұрын
@@doujinflip Tell that to India if it so easy.
@urimtefiki226 7 күн бұрын
@@grastlos1 Tell me that I have noble profession and have a lot of capabilities but can not get out of poverty. There are two countries who benefit the most from my invention China and US and neither of them is paying any royalty for the last five years, they compete and earn money from chips but are not willing to pay anything from their profits.
@Buy_YT_Views_911 14 күн бұрын
You're the reason I keep coming back to KZfaq
@retest6658 13 күн бұрын
That robot was just a Japanese asimo with panda's head attached to it. lmao
@tobyli52 9 күн бұрын
What a stupid cheap comment. Same logic. You are just a pig that walks with 2 legs
@gardencity3558 7 күн бұрын
Same with the dog one total theft of us robotics version.
@pearls1626 7 күн бұрын
Karma
@tkyap2524 13 күн бұрын
China has a population of 1.4 billion people to have a sustainable internal economy.
@ab36935 13 күн бұрын
not if that 1.4billion is aging raging rapidly.
@iwannaseesnow 13 күн бұрын
@@ab36935 Do you think people aging very fast?? there are many young people in 30s-50s in China too!!
@Nabil-ef7lo 13 күн бұрын
@@iwannaseesnowChinese population median age is 40 years, older than US already. Their Fertility rate is 1,2 birth per woman lower than Japan. It really tell us the future that China will in decade or so will dominated by old people hampering their growth
@happymelon7129 12 күн бұрын
@@ab36935 by your theory , Japan and S.Korea will fall before China.
@user-hc5cg3jc3i 11 күн бұрын
@@Nabil-ef7lo哈哈，你不看人口基数还有中国不是移民国家哟？中国拥有世界最多富裕群体最多中产阶级4到5亿😂😅
@dongmingzhao7828 11 күн бұрын
Two parties of us everyday think about how to fight with each other,do they really have time to thinks how to improve this country?
@bluefish7940 14 күн бұрын
Decouple from the west , make deal with Middle East and Asian countries. Built China markets with Chinese companies.
@rifatahmed3486 14 күн бұрын
you missed eastern europe, south america and africa
@serriajohn 14 күн бұрын
You shall check on BRICs , Shanghai SCO and RCEP members. China trade and investment on Global south countries are increasing , therefore, decoupling with G7 is on its way!
@darthvader4209 14 күн бұрын
Let’s internationalize the RMB too. But the first thing that will happen after RMB internationalization is - money “running” out of China faster than ever before
@ericphua2359 14 күн бұрын
Give Jack Ma a black eye and made him knee.
@aryaman05 14 күн бұрын
@@darthvader4209 They're trying hard, it's not working out too well for them.
@nguyenlamanh2919 14 күн бұрын
Cooperation will make every country thrive. But people are not mature enough. We always blame the other side but never reflect on ourselves. I hope the comment section understands that you can be toxic and spread hatred. Or be peaceful and be the cornerstone for the future cooperation. I hope your country will thrive.
@psikeyhackr6914 14 күн бұрын
The stupid consumerism of the United States is a delusion of thriving. When do you hear American economists talk about Net Domestic Product? And that equation does not include the depreciation of durable consumer goods.
@horridohobbies 14 күн бұрын
@@psikeyhackr6914 Consumerism in the United States is based on *debt.* The Chinese are great savers and they buy things with *money.*
@psikeyhackr6914 13 күн бұрын
@@horridohobbies So how many are in debt over Real Estate and had to sell even though prices drlpped and still in debt? Plus, they export junk designed to become obsolete to other countries.
@horridohobbies 13 күн бұрын
@@psikeyhackr6914 China manufactures at all prices points. You get what you pay for. You want quality? You pay more. You want cheap? You get lower quality. This is how it works in the free market, not only in China but *everywhere.*
@psikeyhackr6914 13 күн бұрын
@@horridohobbies ROFL What technology do you know how to repair? When was the last time you replaced a magnetron in a microwave oven? I asked a PhD economist to explain how an automobile engine worked. He couldn't even start, but he drove a white SUV. Techno-moron consumers who only know price and brand name are a joke. Ask an economist for data on the annual depreciation of automobiles.
@jasonong3906 13 күн бұрын
In Singapore I only buy China product.. Unless I have no choice
@ostrakos4785 13 күн бұрын
are you Singaporean?
@Wilson24678 13 күн бұрын
@@ostrakos4785 How do you define Singaporean? not buying China product? 😂
@ericphua2359 13 күн бұрын
@Wilson24678 . Singaporean mean Singapore citizens who have voting rights. In Singapore, everybody is free to buy whichever product.
@watchman835 13 күн бұрын
@@ericphua2359So a Singaporean prisoner who has his voting rights taken away, is not a Singaporean?
@ericphua2359 13 күн бұрын
@watchman835 . Interesting question. He is still a Singaporean with basic human rights. His organs won't be harvested and sold away. After he served his term, all his rights would be given back to him.
@passby8070 9 күн бұрын
I brought 2 DJI drones, high end Huawei smart watch and Dreame flagship robovac. Those are vary expensive products that have no western, Korean or Japanese equivalent in terms of functions, features and batteries life.
@doujinflip 8 күн бұрын
Non-Chinese companies didn't bother with consumer drones, and smart wearables are still largely a solution looking for a problem. America's iRobot has longevity though, with replacement parts still readily available down to their oldest models which is unheard of elsewhere in the realm of consumer gadgets.
@WeAretheWorld89 7 күн бұрын
China had survive trading inwardly for a few thousand years, before the appearance of Westerner. Anyway China can also trade with Russia, Asia or Global South. They can just ignore EU or US. If Western countries cannot compete with China, where else do the Chinese people need to seek for better and cheaper products. .EU and Allies consist of about 35 countries. China still can trade with 160 countries. What is the problem?
@PrideWang 14 күн бұрын
On May 28, the IMF raised its 2024 GDP growth forecast for China from 4.6% to 5%. Morgan Stanley forecast 4.8%, UBS forecast 4.9%, Citigroup forecast 5%, Société Générale forecast 5%, and Goldman Sachs forecast 5%.
@horridohobbies 14 күн бұрын
The G7 economies would *kill* for these kinds of GDP growth numbers.
@truthalonetriumphs6572 13 күн бұрын
They all copy each other. That's safe.
@dotdash8327 13 күн бұрын
G7 is already developed. It's very hard to have that kind of growth after becoming a developed country
@pjacobsen1000 13 күн бұрын
Sounds reasonable. The government is pumping trillions of Yuan into the economy, so that will be reflected in the growth numbers.
@Bug-sg1li 13 күн бұрын
Chinese buy with money they have, Americans buy with debt. Says a lot.
@doujinflip 8 күн бұрын
China's debt is grossly underreported and malinvested. Investigating their books for the true extent gets you targeted as a spy due to vague "national security" concerns. Says a lot.
@donttryitjohn364 5 күн бұрын
China would still be a backwater if it wasn't for the Americans. What money and what debt?
@soothinglycool9806 3 күн бұрын
Western countries invent stuff whilst China hacks Western technology. World refuses to be led by a lazy thief❤
@saidali8418 7 күн бұрын
They are so proud of thier domestic products and so are we in other countries , but China must understand that exporting thier goods might not be a seller because overseas consumers are beginning to wake up in terms of quality how cheap and affordable it may be .
@tanjongmalim6869 13 күн бұрын
That domestic consumption strategy had been touted for the past 20 years ... but never work. even in the face of vast public infrastructure spending. A poor country can never achieve a domestic driven growth .
@D_2_M 2 күн бұрын
Back then Chinese was making cheap products. The US sanctions now pushed the Chinese to go higher tech products.
@happymelon7129 12 күн бұрын
Former PM of Malaysia , Mahathir Mohamad told WSJ in Sept , 2018 , " We have traded with China for nearly two thousand years . China never conquered us. We have relations with Europe. The Portuguese came to Malaysia in 1509. Two years later, they came and conquered us. So I always feel that I’m safer with China than with Western countries " . Current Malaysian PM Anwar Ibrahim told reporters in Australia 3 months ago -- If Western countries have problems with China "they should not impose it upon us", we do not have a problem with China .
@pearls1626 7 күн бұрын
And Now Malaysia 🇲🇾 is joining BRICS
@miragec4895 14 күн бұрын
CNA was questioning whether China could achieve the 5% GDP growth target for 2024? Just look at the history. Has China missed any annual target except that year of COVID? If the Chinese government were an executive team of any corporation, this team would have been entitled to tons of rewards because of its consistent achievement of the set target year after year.
@thailux6494 14 күн бұрын
And a lot of it is malinvestment. If I pay somebody to dig a hole in the ground for 50 S$ and then ask them to fill the hole up again for other 50 S$, I just increased my economy by 100 S$. Doesn't mean any value was created long-term or that it was a good investment. One of the major issues of China is that it targets growth. Goodheart's Law: "when a measure becomes a target, it ceases to be a good measure." so Chinese local government officials have a lot of incentives to either fiddle with the numbers or invest the cash in anything that, despite not being needed or being a bad investment, increases GDP. I do think (and hope) China will move away from this model of growth and will choose a more coherent system that allows it to truly excel at the world stage.
@horridohobbies 14 күн бұрын
@@thailux6494 "And a lot of it is malinvestment." How much is "a lot?" Can you quantify it? Show us the evidence. I presume all economies have some malinvestment. But I believe it's relatively modest in China. Just visiting China and seeing the country's amazing progress tell you everything you need to know.
@Tabula_Rasa1 14 күн бұрын
@@thailux6494 A lot of accusation without any evidence. Anyone can make up stuff on the Internet. Look at UK's High speed Railroad.... How much money it spent for it to be canceled eventually. The services rendered such as architecture, research, logistic and planning went into GDP, but you got nothing to show for. Some publicablion laughed at Shenzhen when the govt initially proposed it, but it became the most successful project in China. You also have half built city that it didnt pan out. Every countries have bad investment and that is how it is.
@darthvader4209 14 күн бұрын
@@horridohobbies, you want examples? Just look at the property sector and the investment into high speed railways. Yes, the popular routes in tier 1 cities are packed. But have you seen the occupancy levels in the sub-tier 2 cities? For the property sector, there are more apartments than needed to house a shrinking population, resulting in excess capacity and 烂尾楼
@darthvader4209 14 күн бұрын
Past economic performance is no indication of future performance. Just look at the Japanese economy prior to the 90s. Nobody ever imagine it would go into deflation the way it did. The biggest linchpin/risk is the de-risking/decoupling that’s taking place right now
@pjacobsen1000 13 күн бұрын
18:40 'Beijing recently announced an additional 47.5 billion USD injection into semiconductor R&D'. Thousands of grifters will be lining up for some of that sweet, free cash.
@freemagicfun 14 күн бұрын
China makes some great phones. I am a long time Samsung user, but my best phone, in the last 15 years, was my Huawei. Oppo and Vivo also make very good phones. Samsung has a long way to go before I buy one again. I was really hoping Biden would reverse trump's idiotic trade war... but instead he made it worse.
@bowenhuang4608 14 күн бұрын
China make good EV cars as well. BYD Yangwang U8, huawei AITO M9, XIAOMI SU7...
@freemagicfun 14 күн бұрын
@@bowenhuang4608 Our city is getting a BYD dealership next month, but our charging infrastructure is non-existent. I am hoping my next car is a BYD hybrid. 😎
@iggy5347 14 күн бұрын
China make good dongfeng 21 and trust me its works and its hypersonic too
@mikoy2433 13 күн бұрын
I like oneplus phones, I ordered mine online from China.
@pjacobsen1000 13 күн бұрын
No doubt many Chinese phone brands are very good. I have had two Huawei phones, but now I went back to Samsung. Huawei is good, but I need Android. Without Android, I don't want it, no matter how technologically advanced it is.
@wilsonbethlehem3101 13 күн бұрын
32:09 Well said. Consumer point of view. Not politicians.
@thomasrogers9146 9 күн бұрын
CHINAS ECONOMY OUT PERFORMED EVER Y WESTERN ECONOMY AT 5.2%.AS AN AMERICAN I WISH OUR ECONOMY WAS AT 5% AND OUR PEOPLE CAN AFFORD HEALTH CARE HOUSING AND EDUCATION. THE WEST HAS WAGED AN ALL OUT ECONOMIC WAR ON CHINA SO WHAT DO YOU EXPECT? THE CHINESE TO SEND MONEY ON WESTERN BRANDS?
@johnardygoh6245 13 күн бұрын
With over a Billion people and strong purchase power,I’m not worried about China but more on western countries especially US and EUROPE,slowed grow will hv effect on ASEAN
@pjacobsen1000 13 күн бұрын
We in the west are worried too, which is why we are beginning to protect our markets and jobs. We cannot continue to buy everything from China and not sell anything to China. Our wallets get thinner and thinner, so we need to make a change.
@zenithsomining820 8 күн бұрын
@@pjacobsen1000try selling opium
@serriajohn 14 күн бұрын
To check on BRICs , Shanghai SCO and RCEP members. China trade and investment on Global south countries are increasing , therefore, decoupling with G7 is on its way!
@darthvader4209 14 күн бұрын
😂😂😂
@bobsthea 13 күн бұрын
at 29:23, wuling air ev is kinda not too good, because their inverter a bit faulty, didn't go uphill, if these cars unused for some times it 12 v batery (that kinda important to start this cars) will be dead and need to be charge before we can drive,
@Bebraveonce 12 күн бұрын
Nope is the answer They need the west to export their to Ethiopia and the rest of Africa will not replace 1 city in the west
@R-ms9uo 5 күн бұрын
China has localised whole ecosystem of production so they can make anything at this point.
@pjacobsen1000 13 күн бұрын
These young consumers they interview, who talk about buying domestic goods, they really look like they're from 3rd tier cities. What do the young people from Beijing, Shanghai, Guangzhou, Shenzhen say? (The young woman is IN Beijing, but she is not FROM Beijing). In any case, people around the world often buy domestic products, not because they want to perform their patriotic duty, just because that's what they're familiar with.
@tobyli52 9 күн бұрын
I am from Shanghai. People in larger cities also prefer local brands more now. Maybe not as much as lower tier cities. But certainly the trend is moving domestic.
@bluefish7940 14 күн бұрын
One good thing about China is their middle class have money not like United States middle class live by pay check to pay check.
@horridohobbies 14 күн бұрын
Exactly. The Chinese buy with money. The Americans buy with debt.
@ab36935 13 күн бұрын
Delusional. Most rich chinese will try to move money outside of china.!!!
@pipiqiqi4010 13 күн бұрын
maybe it is 3 years ago, but not right now. the real estate had blocked most of the money of middle class or lower class, and the wealthy is declining for all the families which own apartments as the real estate market declining. the stock market is worsening as well when it is found that lots of companies' financial statements are fake to attract money infusion.
@hendyanthony722 14 күн бұрын
To achieve economic growth rates (through consumption) is not a difficult problem, the important thing is that people still have money. Simply subsidize the prices of goods and services for a limited period, then purchasing power will immediately increase. The problem is, do the state and people have sufficient money? 😅😅😅
@kongwee1978 13 күн бұрын
China 40% saving compare to US 4% EU 14%. China is the biggest outbound travel market.
@xipingcao 11 күн бұрын
The problem is, do the state and people have sufficient money? -------- How foolish of you to say such a thing. You must remember what you said here. Within 10 years, you will admit to yourself that you are foolish.
@xipingcao 11 күн бұрын
Physical production is the source of wealth creation. Physical objects are the carriers of wealth. Currency is just a symbol of wealth, 100 pieces of currency correspond to 100 pieces of wealth. Printing 100 more copies of currency will only lead to inflation and will not result in a corresponding 100 copies of your wealth.
@xipingcao 11 күн бұрын
China is the world's largest wealth creator. So Chinese people have the money to buy more new cars every year than the European Union and the United States, and the gasoline and diesel burned by cars account for 10% of the world's oil production each year. In the two years leading up to the pandemic, the total amount of consumption by Americans traveling overseas was only 70% and 50% of that of Chinese people. The overseas tourism income of Chinese people is in deficit, reaching US $200B This is not data from the Chinese government, but from the International Tourism Organization. You can check it yourself.
@Pmooli 6 күн бұрын
Hukou apartheid system? One part rich and capitalist the other poor and communist.
@jamesliu848 14 күн бұрын
If Mainland Chinese are overcome with nationalistic pride, wonder why they're not reacting the same way to Nvidia :D
@pjacobsen1000 13 күн бұрын
haha, good one!
@offreal30 12 күн бұрын
If you watch the video, you'll understand that the people are not driven by blind nationalism. The domestic brands that are highly regarded are those producing quality products. NVIDIA's dominance is not related to its brand but rather because there are currently no other products that can replace it.
@Wunderpus-photogenicus 5 күн бұрын
China’s rapid growth is 95% due to the hardworking attitude of the people, and of course excellent genes also contributes to the China success. The nonstop bashing and smearing by the Western nations, and definitely their repeatedly unethical sanctions contributed to the remaining 5%. Therefore, China is grateful to the Western countries.
@ivychua4091 9 күн бұрын
I have been saying this " BUY DOMESTIC " for decades
@happymelon7129 12 күн бұрын
All ASEAN knew the sun has set in the west. Only PH BongBong still with the empire due to family asset are onhold by the empire.
@fengjikangqiang 14 күн бұрын
Infrastructure was built on the issuance of debts, property was bought on the issuance of debts and since real estate is a prime driver of the economy for the past decades, mortgages are also a form of debts. Today's credit is tomorrow's debts, real estate has to go up so that someone can sell their assets to pay off the debts they took in the past otHERWISE just like a ponzi scheme it ends when there are no fresh flow of money to pay the earlier batches of investors.
@zaidburny5205 14 күн бұрын
Good job China ❤
@irritatedanglosaxon1705 13 күн бұрын
China needs to boost her domestic consumption, that's a challenge
@renemartin5729 13 күн бұрын
I buy Chinese products whenever I can.
@soothinglycool9806 3 күн бұрын
Dangerous toxins, poor quality, copy cat merchants and definitely unhealthy food. Amazing what is known as Chinese manufacturing.
@Akumaryu10 13 күн бұрын
Makeup gal saying she likes local chinese products but using iPad to surf for products, okay...
@gfscfinance8866 8 күн бұрын
The iPad is xaomi
@knowledged8420 14 күн бұрын
China reduce trade slowly with USA than lastly don't trade with usa when technology is independent from usa 100% & don't depend on usa 0%
@htseng3863 13 күн бұрын
Auto translate to traditional Chinese is not working, please take a look thanks
@arditgashi662 13 күн бұрын
The subtitles are too small to read, you should really just dub them
@passby8070 9 күн бұрын
By definition, any country that exports its goods are over capacity. Its such a garbage term.
@user-sf1nq9uj7p 2 күн бұрын
Yes and no. Australia exports lpg (liquid petroleum gas) but doesn't have enough for its own people to use and has to raise prices on gas to cut down on consumption as well as force new homes in one state to install electric stoves, ovens and water heaters instead of gas (the excuse is, "climate change"). So, Australia doesn't actually an over capacity of lpg but it has resorted to exporting it in a big way because it wants to make money by selling it to China which has a demand. Australia also exports its beef and lamb although there isn't enough locally available in over capacity to keep prices down. This is a form of enforced short supply in order to keep prices high so that the businessman can make the profits while the local population can go starve themselves.
@grahamashe9715 14 сағат бұрын
Here’s a suggestion. When you have people speaking Chinese, dub the audio so we don’t have to look at the screen and read the subtitles each time.
@Nexus6Variant Күн бұрын
Ironic that the domestically produced make-up the woman in the film is using has given her an allergic reaction in her under-eye skin, almost like a lack of QC in the product or the use of ingredients that aren’t hypoallergenic.
@saehian 12 күн бұрын
Japan use Chinese writing. Those newer words in spelling especially newer words. More than 2000 years ago, Qin dynasty unified the writing, u can used whatever u like. Till now there is no national language, only common language.
@ivantan5690 14 күн бұрын
It's always the concern of the quality of chinese goods that puts potential buyers off. If China is able to prove and ensure the quality of its goods are on par or even higher than international brands, things will just skyrocket from there.
@YikaiRONG 14 күн бұрын
The quality of Chinese products cannot be proven in Western countries. Because many people will choose other brands because of stereotypes and dissatisfaction with the CCP government. Only when the price is low enough can it attract foreign consumers, but these goods are trash and cannot even be sold in China (such as Temu), which further screws up Made in China. If a Chinese brand is good enough to make people ignore the negative impression of China, then this brand will be suppressed (Huawei, DJI, BYD)
@user-sf1nq9uj7p 2 күн бұрын
It is the buyers (the importers in your country) responsibility to check on and ensure the quality of the product that they are buying to import into your country - just as when you go to the stockyards to look at the cattle (or horses or whatever) you want to buy for your ranch.
@Souchirouu 3 күн бұрын
Where with most countries I would be skeptical if they could effectively tackle this but with the Chinese government I have no doubt that they will succeed. Where "democracies" have to deal with a change of political leaders every few years making it near impossible to do anything constructive long term while China can recognize the larger problems openly and act according the best insights of their scientists, engineers and political leaders even if that, on the short term, might not be popular with its citizens. The core aspects people expect from their government is to provide Peace, Prosperity, Stability, Good healthy and Purpose. Western democracies are failing more more in providing these things for their citizens making the results of their leadership achieve the opposite of what its citizens want making them not a democracy as a result. The west has been coasting on their old money and power for centuries expecting the rest of the world to just roll over and do what they are told which in the modern day is becoming more and more difficult as China is providing real competition on a global scale. Why would the global majority work with a government or corporation that shows up with an ultimatum that if not followed will mean economical sanctions, funding of political opponents or war.
@silversurfergw 10 күн бұрын
Ok now make one about US empire saving paranoia.
@gfscfinance8866 8 күн бұрын
Maybe it is time to buy only US made. But wait, is there anything made in US
@doujinflip 6 күн бұрын
Agriculture is massive in America. In fact China would starve without the excess exported from the US.
@PureBadBreath 8 күн бұрын
For a deflationary environment like China where wealth drawdowns are happening, then consumers are more price sensitive so buying cheaper domestic branded goods makes sense.
@doujinflip 8 күн бұрын
Which is an extremely hazardous downward spiral, especially since China already occupies the bottom of the price range whose value was only propped up by not so price-sensitive foreign buyers.
@kalachuchu5672 8 күн бұрын
Malaki lang bnsa nila mukha lang maunlad pero madami sila population kya hindi natin masasabi mayaman talaga ang bansa nila.kc sa likod yan madami tlga mahirap jn
@jyay4397 12 күн бұрын
i live in CA and i would buy Chinese ev if they sell here
@darshanchung 8 күн бұрын
19:16 but huawei just announced it won’t go beyond 7nm
@dyrectory_com 13 күн бұрын
There is also BRICS+ 🦉
@kongwee1978 13 күн бұрын
Where my Gordon Chang!
@MO-hk9ko 8 сағат бұрын
How does a country grow its foreign reserves if the left hand sell to right hand. And the right hand sell to left hand. Might as well barter back in the good old days.
@angmatthew 14 күн бұрын
Xi is the best economist in the world. No one can cool the property sector as fast as him.
@darthvader4209 14 күн бұрын
😂😂😂
@ericphua2359 14 күн бұрын
He almost god. He just needs say " The property price is too high" . The property plunge and still on going plunging and plunging.
@serriajohn 14 күн бұрын
@@ericphua2359 Expensive housing is very negative for manufacturing industry. employee will demand higher salary, employers have to move out the production due to the higher labor cost. China has already built houses enough to accommodate 3 billion people, the average living space is 600 square feet, better than Euopean housing condition. therefore, China shall focus on high techno industry, such as EV, therefore, more citizen can abandon petro cars and make environment green.
@shermanpeabody6102 14 күн бұрын
China has 80 MILLION EMPTY apartments. China overproduced in real estate.🦋
@M3.Lorenzo 14 күн бұрын
And you're in favor of skyrocketing housing prices in your country? You prefer a society where landlords are the most wealthy class in a country? 😂
@TeddySy-rs2yv 4 күн бұрын
It is not quality, it is not money, it is the culture of Chinese to save money and dont spend if not needed.
@phongy45 2 күн бұрын
China ought to tax more on imported product to protect local produce? Every country does that too!!!
@yahoochong2324 13 күн бұрын
Cooling down the real estate market is a deliberate move by the government, and if it continues to be delayed, the negative impact on the economy will be even greater. I think this is a wise move
@thomashunter5645 13 күн бұрын
China is offering one country, two systems, to Taiwan. The CCP says it worked in Hong Kong.
@gardencity3558 7 күн бұрын
Yeah it "worked" in HK that they abduct citizens to china for secret trials on the mainland because they protested against the government. What a great "two systems"!
@glentanner4770 13 күн бұрын
Educated in the U. S. Then made in China.
@tomsinger8461 12 күн бұрын
Go check what are the 4 great inventions by China then you know the contribution to modern tech , US professors are copying China AI research results, go read the news.
@jjsamuelgunn1136 11 күн бұрын
The rest of the world found out the hard way that if they don't learn from the western countries, the westerners will use their technology to conquer and colonize you. Look at what happened to the REAL 'Americans'. They were driven to near extinction and had an entire continent taken from them because they couldn't stand up to the white people that sailed over from across the ocean.
@tuapuikia 13 күн бұрын
My new adidas jersey is no longer made in China. This is a good sign. Other SE countries economy is slowly growing 😊😊😊
@happymelon7129 12 күн бұрын
🤣From "made in China" --> "made by China"
@tuapuikia 12 күн бұрын
@@happymelon7129 made in Vietnam
@happymelon7129 11 күн бұрын
@@tuapuikia 😝So you don't know where the materials came from. Most likely Even electricity use to make this product are from China.
@tuapuikia 11 күн бұрын
@@happymelon7129 lol, I like your spirit 🤣
@wynterwei9628 10 күн бұрын
This means that China is upgrading and transferring low-end industries, and now a lot of income comes from cars, rather than so-called foundries.
@YUTAB-ck9rp 7 күн бұрын
Good manufacturing sectors and good domestic consumption is crucial for any economy to stay healthy. Much more so than simply exporting many cheap products overseas.
@YoungOneYT 4 күн бұрын
China's products are MUCH higher quality now & days, I ONLY buy Chinese products.
@MWENDA-vv5im 9 күн бұрын
21:26 The 2021 bar graph under 'Infant Milk Formula' adds up to 99% instead of 100%. Is that by design or is it an error?
@CC-dx6bc 13 күн бұрын
Can do more internal tourism
@doujinflip 6 күн бұрын
That's really all they have as a service-driven deliverable, but China's workers are losing their paychecks too as foreign orders and currency inflows crater, so this is likewise not sustainable.
@rebeltheharem7028 6 күн бұрын
Now just give the people more money to spend and (even if it seems counter intuitive) decrease Chinese people's propensity for saving money so that they will switch back to consumerism (of course with fiscal safe guards so they don't fall into more personal debt traps like the US or just teach them about modern finance tools), and you are good to go on the road to economic recovery, or switching to a consumption instead of real estate and export economy. I mean, we all know why they are switching to domestic brands instead of international ones. Its cause it's cheaper. Even if the quality isn't comparable, in a recession, what you can afford comes first.
@skoll7526 7 күн бұрын
China’s internal market is huge so it is a good idea for China to focus on the internal market instead of relying on exports.
@doujinflip 6 күн бұрын
Problem is China's market is made up of makers and savers, not buyers. Shifting towards consumerism means devolving monetary and policy power towards its people and away from the core Party, which is something the Xi Administration is terrified of. Hence why Beijing is doubling down on more infrastructure and industry even as they lose their global customer base.
@bienvenidojr.calauod7910 11 күн бұрын
How about toyota,honda,zusuki,hyundai.
@arthurhwang117 33 минут бұрын
It is not “nationalism” when Chinese consumers react negatively against foreign brands promoting and supporting the lies spread about “Xinjiang forced labour” or “Xinjiang genocide”. If a foreign company boycotts Xinjiang cotton to lend credence to these lies which were designed to hurt China, it is a no-brainer for the Chinese consumer to boycott the products of those companies. To continue to buy the products of companies who set out to hurt China in order to comply with the political exigencies of their home countries is not just stupidity, it is a betrayal. This is NOT “nationalism”. It is JUSTICE.
@manchu-qu9mw 12 күн бұрын
China is commendable for her affordable products and with quality in mind. The Western pricing is insanely high and do not make sense to enjoy owning one for prestige and vanity. The Chinese mindset has to change to support the country and with patriotic spirit can drive China to greater heights. Western Democracy are not gracious and greedy as always. China advocates true humanity with fair trade and shared prosperity with peace.
@migovasquez0303 6 күн бұрын
CPP harvest Uyghurs organs and they turned them into slaves working in the seaffod industries agasint thier will. Typical CCP. Youre crazy CCP.
@jameslee7712 2 күн бұрын
Declining exports, mortgage crisis, increasing joblessness, declining wages, poor local government finances. How do you expect consumer sentiments and domestic consumption to improve? Also, as you strive to build up your local brands, you also inevitably drive out / deter foreign brands and investments. The biggest joke is that many citizens are holding debt for unbuilt houses. Good luck China.
@MO-hk9ko 8 сағат бұрын
Buy domestic. But what is the true reason and what is the spin? Chinese Premier Li Keqiang said China still had 600 million people whose monthly income was barely 1,000 yuan ($154). Buy iphone?
@pjacobsen1000 13 күн бұрын
17:40 That robot-guy sounds like he's from Hunan. When he wants to say 能够, he says 冷够 🤩Very cute!
@Zealith 8 күн бұрын
They haven't actually been doing 5% for a while now. So sure, they will continue to do 5% now... on paper.
@coreana.aesthetics 13 күн бұрын
The fact that China still claims herself as Developing Country is mind blowing with its high tech, world best infrastructure, manufacturing powerhouse and so forth. Central Kingdom has always been one of the richest in 5000 years of human history.
@Nabil-ef7lo 13 күн бұрын
China still has 13k usd per capita and HDI of 0,7. So it cannot considered as developed in general despite their manufacturing giant
@gardencity3558 7 күн бұрын
That's the China they want you think exists everywhere within the country. It does not.
@user-sf1nq9uj7p 2 күн бұрын
When you claim that you are a "Developed country", why continued developing then? Why not simply stop developing? This is why China cannot consider itself "developed" because if it did, it will strop [progressing and advancing - like the West,
@John_Smith_86 11 күн бұрын
She is nuts. Makeup can be highly toxic, depending on your production. Deliberately sourcing it from China brands in China seems risky
@guens01 7 күн бұрын
The notion that domestic consumption is too low is bulshit. Chinese consume just as much as anyone else. But the difference is, things are affordable in China.
@Qwuiet 11 күн бұрын
China is back.
@covertpuppytwo3857 7 күн бұрын
China is falling
@yihu80 9 күн бұрын
If they know what to do, they will be fine.