“中国沉没” - The Sinking of China

[syed putra]

Because there is no language barrier, the PRC men did a lot of bad things to Malaysian chinese women in Malaysia.

This is fake news. Never heard of a single abuse case.

 

[congo9]

Because Indonesia and soon Thailand will have one.

Building HSR does not have the economic advantage the country think it has .
It was argued that once the news of HSR building start, with land value will go up.
Property around the HSR will go up.

But the problem is that public transport always needed input from taxpayer's money in the form of subsidize.
Malaysia is well serve with domestic flight, train and bus services. There's no need HSR at all.

 

[k1976]

Building HSR does not have the economic advantage the country think it has .
It was argued that once the news of HSR building start, with land value will go up.
Property around the HSR will go up.

But the problem is that public transport always needed input from taxpayer's money in the form of subsidize.
Malaysia is well serve with domestic flight, train and bus services. There's no need HSR at all.

Ish to feed the Rows of Datuks who will work as subcon...that will create economic values when they upgrade their Merc with Masarati

 

[congo9]

Ish to feed the Rows of Datuks who will work as subcon...that will create economic values when they upgrade their Merc with Masarati

So the benefit is to the Datuk with their merc and mistress ?

 

[k1976]

So the benefit is to the Datuk with their merc and mistress ?

26b Hookay, Boss?

 

[k1976]

So the benefit is to the Datuk with their merc and mistress ?

Standard Jiuhu SOP:

1. Can TouFu TouFu abit....
2. Use OEM parts...
3. phantom employees n phantom PMs

All can milk hah milk hah

 

[congo9]

jihu ic coming up !

 

[k1976]

Because Indonesia and soon Thailand will have one.

Must be able to pay.then have de woh

 

[Dr Christopher Cheok C S]

 

[Dr Christopher Cheok C S]

China Lehman: Right on Time​

https://www.financial-reality.com/post/china-lehman-right-on-time

 

[Dr Christopher Cheok C S]

Whatever you do is wrong

 

[k1976]

Tiingkok is setting up 天门阵for savvy satik global investors

 

[k1976]

Goodbye Louis Vuitton. China’s Gen Z leans into ‘dupe economy’ as growth prospects stall​

Analysis by Juliana Liu and Joyce Jiang, CNN
Tue, 24 September 2024 at 5:38 pm SGT7-min read

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world.

China’s economic slowdown isn’t an abstract concept for Zheng Jiewen, 23, who works full time at an ad agency in the southern megacity of Guangzhou.

Mainly a print model, Zheng used to rake in 30,000 yuan ($4,230) a month when she began working two years ago. But, starting last year, when new business at the company she worked for started to decline, her salary was reduced incrementally, culminating in a major cut in February that slashed her earnings to just half of her previous pay.


“I was extremely shocked,” she told CNN. She said she immediately brought down her spending to match her new salary. That meant no more Louis Vuitton, Chanel or Prada, formerly her go-to brands.

These days, she and her friends are spending their more limited funds on so-called “pingti” products, high-quality replicas of branded goods known in English as dupes. Some are virtually indistinguishable from the real thing, while others are inspired by the original design and offer more colors or textures.

The popularity of this product category is soaring as consumer confidence in China nears a historic low, according to analysts.

The “obvious” economic slowdown has resulted in social media searches for dupes tripling from 2022 to 2024, said Laurel Gu, a Shanghai-based director of Mintel, a market research firm.

 

[k1976]

China’s growing love for dupes isn’t just a problem for established brands such as Louis Vuitton. Sales at its luxury powerhouse owner, LVMH, dropped 10% in the first six months of this year in its Asia region, which excludes Japan, compared to 2023. That market is dominated by China.

The pingti trend is contributing to overall lackluster consumption and retail sales, which missed what were already-low expectations last month. A slew of economic data over the summer has been so weak that economists are concerned China may miss its 5% target growth rate announced in March.

 

[k1976]

Cautious consumers​

A year and a half after China reopened its borders following the Covid-19 pandemic, consumer confidence is still struggling to recover, economists at investment bank Nomura wrote in a research note earlier this month.

Its consumer confidence index dipped to 86.0 in July from 86.2 in June, they said, only slightly above the historical low of 85.5 hit in November 2022, when the country was still mired in pandemic woes. (The index measures consumer confidence on a scale of zero to 200, with 100 indicating a neutral stance.)

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Shoppers are sitting on the sidelines due to a combination of falling stock prices, capital flight and “tepid” wage growth, the economists said. According to CNN’s interviews with consumers in different parts of China, though, holding on to your existing salary is already considered a win.

An elementary math teacher from Chongqing, southwestern China, who gave her name as Xinxin told CNN that she was previously a loyal fan of Estée Lauder’s Advanced Night Repair serum.

But after a “brutal” pay cut of over 20% this year, which she attributed to “fiscal issues” in her school district caused by economic challenges, she turned to budget-friendly alternatives. She found one with the same key ingredients priced at a massive discount of about 100 yuan (about $14) for 20 milliliters (just over half an ounce), compared to Estée Lauder’s 720 yuan ($100) for 30 milliliters (one ounce).

“Why dupe? Pay cut, of course!” she quipped.

 

[k1976]

A precipitous fall​

On Tuesday, central bank governor Pan Gongsheng sought to address widespread concern about stalling growth by announcing cuts to one of its key lending rates, the seven-day reverse repo rate, from 1.7% to 1.5%. It also cut the reserve requirement ratio for banks by half a percentage point, which would free up about one trillion yuan ($142 billion) for new lending.

He additionally revealed cuts to existing mortgages and lowered the minimum mortgage downpayment from 25% to 15% for second-time homebuyers to support the ailing property sector, which many economists believe is the root cause of China’s numerous economic woes.

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The real estate sector once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

The resulting crisis has resulted in a precipitous fall in real estate prices and loss of confidence among consumers. Individuals and companies have been trying to preserve their wealth by selling assets and cutting consumption, as well as investment.

Prices of existing homes are down nearly 30% from 2021, Nomura said, citing research from Beike, a platform that tracks housing transactions, based on a sample of 25 large cities.

“Unlike the huge positive wealth effect seen in the US post-Covid, Chinese households have suffered a massive loss of wealth from the housing slump, amounting to an estimated $18 trillion,” Barclays economists wrote in a September 12 research note.

 

[k1976]

Yet another one of China's elite has disappeared after criticizing Xi Jinping​

Hannah Abraham
Tue, 24 September 2024 at 8:28 pm SGT2-min read

Xi Jinping, pictured here in July, has been cracking down on dissent against his government.Sergei Guneyev/Pool/AFP/Getty Images

• Zhu Hengpeng disappeared after criticizing Xi Jinping, according to The Wall Street Journal.
• Zhu is believed to have criticized China's economy and Xi's leadership in a private WeChat group.
• Zhu's last known public appearance was in late April, the publication said.

A top economist has joined the growing list of China's elite to have disappeared from public life after criticizing Xi Jinping, according to The Wall Street Journal.
Zhu Hengpeng served as deputy director of the Institute of Economics at the Chinese Academy of Social Sciences (CASS) for around a decade.
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CASS is a state research think tank that reports directly to China's cabinet. Chen Daoyin, a former associate professor at Shanghai University of Political Science and Law, described it as a "body to formulate party ideology to support the leadership."
According to the Journal, the 55-year-old disappeared shortly after remarking on China's sluggish economy and criticizing Xi's leadership in a private group on WeChat.
People familiar with the situation told the publication that Zhu was investigated, removed from his posts, and detained following the comments.
Zhu's name has since been removed from the list of staff at a think tank affiliated with Beijing's Tsinghua University, according to The Journal. The report said that his last known public appearance was in late April.

 

[k1976]

Markets

China to Give Cash Handouts for the Poor in Rare Use of Aid​

• One-off subsidies to benefit people in extreme poverty: CCTV
• Economists have called for fiscal measures to lift consumption

By Bloomberg News
September 25, 2024 at 6:37 PM GMT+8
Updated on
September 25, 2024 at 9:54 PM GMT+8
Save

China said it will give one-off cash handouts to people in extreme poverty before Tuesday, in a rare announcement of direct aid just a day after unveiling a sweeping program to stimulate the world’s second-largest economy.

The Ministry of Finance and Ministry of Civil Affairs will issue living subsidies to disadvantaged groups including the very poor and orphans before the National Day holiday next week, the state broadcaster CCTV reported Wednesday, without providing details.
https://www.bloomberg.com/tips/

 

[k1976]

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Oil declines as investors weigh whether new China stimulus will boost demand​

By Arunima Kumar
September 25, 20248:22 PM GMT+8Updated 4 hours ago

Miniatures of oil barrels and a rising stock graph are seen in this illustration taken January 15, 2024. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
Sept 25 (Reuters) - Oil prices fell more than 1% on Wednesday as investors reassessed whether China's latest stimulus plans will be able to boost its economy and spur fuel demand in the world's largest crude importer.
Still, declining U.S. crude oil and fuel stockpiles, and more violence in the Middle East, provided some support for the market.
Brent crude futures were down $1.10, or 1.46%, at $74.07 a barrel at 1200 GMT. U.S. West Texas Intermediate crude was down $1.14, or 1.59%, at $70.42 per barrel.

Despite a slew of monetary support measures announced by China's central bank on Tuesday, the boldest since the pandemic, analysts warned that more fiscal help was needed to boost activity in the world's second-largest economy.
"Concerns lingered that more fiscal support would be needed to boost confidence in the Chinese economy. This uncertainty raised doubts about sustained demand growth, weighing on crude prices," said George Khoury, global head of education and research at CFI Financial Group.

 

[k1976]

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• European Markets

Morning Bid: After China's stimulus sugar rush​

By Reuters
September 25, 20247:51 PM GMT+8Updated 4 hours ago

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Purchase Licensing Rights, opens new tab
A look at the day ahead in European and global markets from Kevin Buckland
Beijing's big shot of stimulus is still pumping through Chinese markets, but its effect on broader markets could already be fading.
Mainland blue-chips chased Tuesday's 4.3% surge with gains up to 3.4% in today's session and Hong Kong's Hang Seng jumped as much as 3.1%, extending yesterday's 4.1% rally.
China's strong start to Wednesday initially helped to buoy stock benchmarks in Australia and South Korea - whose economies are closely tied to China's fortunes - but those gains soon fizzled out.