I question if this isn't by design though. I'm not someone who's regularly running on of the worlds biggest economies (which they are regardlesss of adjustments). But it seems to me they have a lot of incentive to pretend their GDP is better than it is when one of the biggest reasons the CCP has a lot of support is the Chinese populations disinterest in politics other than economics.
@@0xCAFEF00D they aren't disinterested in politics, they're kept in a bubble wherein they aren't facilitated to acquire knowledge about politics in other countries and the difference between theirs and other countries. Which means, they aren't kept disinterested, they aren't able to know what to question, where and by how much. So they take what is currently present as the only manner in which it could exist.
This reminds me of the old economists joke. Two economists are walking down a street when they encounter some dog poo. One then states to the other, if you eat that dog poo I will give your $1000. After a moment the other economists eats the dog poo and gets his money. They then continue to walk down the street when they see another piece of dog poo. The economists, with the newly acquired $1000, then states to the other, if you eat that dog poo I will give you $1000. The other economists, after a moment, complies and get his $1000 back. They continue to walk down the street for a while when one of the economists states to the other, “You know we both just ate some dog poo for no benefit to ourselves”, with the other replying, “True, But at least we have increased GDP of the country by $2000”.
@@bullpup1337 well on a practical side GDP figures get calculated using tax revenue. Work done in the shadow economy can be accounted by some calculations but eating poo most definitely wouldn't have been tracked. Obv. this is only a technicality and not really his point.
This is the same problem that the Soviet Union had. Every republic and oblast of the USSR had to produce X number of items, and if they produce above the quota, the target will be up to unrealistic extent. It led to the phenomenon of "pripiska" where economic managers - from farm manager to the regional party committee, would overstate their actual output to meet the quota, by faking numbers and overreport supply of goods. In 1984 it was revealed that the Uzbek SSR has not reached its target supply of cotton by almost 80%. Around the entirety of Uzbekistan's top bureaucracy was jailed for corruption.
@@hanismh6300 Not really. Sure, you can't say that they're properly communist either, but definitely not capitalist, as they still use five year planned economy, which is the very opposite of capitalist market economy.
@MarkChristian Saying they use the same system isn't exactly accurate. They both use state run capitalism, but the way it is implemented is very different.
As I study how GDP and economies work, it becoming clearer amd clearer how easy it is to artificially inflate GDP value even if the economy of a country is really struggling.
Which is why economists now use the Inclusive Wealth system to measure the wealth of a country. China GDP: 18 Trillion Inclusive Wealth: 34 Trillion USA GDP: 25 Trillion Inclusive Wealth: 140 Trillion
You can trust EXPORT data than GDP data, because EXPORT data must be matched with IMPORT data by other countries. So, one question: which country exported most values of goods in 2022?
If the "brightness of lights seen from space" method of GDP growth estimation catches on, Chinese regional administrators will simply install five hundred million floodlights pointed at the sky.
not necessary, China prefers spend this money to build their own Space Station Tiangong, their own geolocation satellite system Beidou or other Space projets,
.......so we keep hearing. It's funny how we in the west parrot things we hear in news stories about a lack of transparency in China that are followed by news stories about Julian Assange being a terrorist, mainstream media helping the state track down and brutally arrest leakers at gunpoint and the routine use of the secrets act to keep information about potential state corruption and mass murder under lock and key for sixty plus years. We are fucking morons.
@@bigboss337 this is exactly the problem. US gov blatantly deceive public and use media to downplay their lies. Cpc is using their superior government control to convince public that they can do whatever wish cpc wants to do as long as their people benefit from it, Cpc doesn't care what others people think. You can't just generalize people around the world on how people do things.
Any info shared directly from any authoritarian government, especially one that stamps out any form of dissent or criticism, should always be taken with a pinch of salt.
Actually there isn't a real GDP. Due to the mandated goals set, there are falsified data at each level from the bottom to the top. So even the central government doesn't know what's really the GDP, just that it's less than what's reported. This is common knowledge for Chinese people, people joke about it.
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@@farminjojoreferences967 I rather trust the CIA than I will trust China. DONE. On the measurement scale of trust. CIA -10, China -23,000 know the difference.
Just one more point to the good explanation. The fact is the YoY figure are a comparison to 2022 during which the largest economic region was under strict lockdown which is Shanghai. Therefore, it is rather "normal" that both retail numbers and GDP are on the rise. But still, having lived there and worked there in the industry sector, I can assure you that the number of shell industries, the number of empty new buildings, the number of empty roads leading to nowhere is AMAZING...
It's strange how you came to the conclusion that you haven't been to China before? Do you rely on your media? I have visited many countries with per capita GDP twice that of China, but unfortunately, I think these people are really poor
Well, people in China have been joking about government reported numbers for decades now. But what really hitting home is the job market. It's bad right now, even worse than during the lock down. My uncle who just came over to visit said that people are competing over the few job openings, each willing to accept a lower pay, that it's driving down the wages. That's what really matters to the people, not some number people never really believed about.
@@xiphoid2011 that must be absolutely soul crushing for every job seekers there. What china need most at the moment, is to increase median wages across all sectors, to meet their governmental goal of increasing consumer demand. Sadly, I doubt that will be met at the moment.
", having lived there and worked there in the industry sector,".... Your ESL classes were a waste of time, Charlie Chan. Reading comprehension will be your friend someday...😂
I'm skeptical of the exactness of light/gdp growth correlations. Most light seen from space is streetlight, and there comes a point where you don't need to build more. Your cities can be way denser but still have a similar number of streets and therefore need for streetlights. And what if a country's more focused on building rail than highways? You don't light up rails at night.
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@@notawidow6560 have you read the study? I haven't paid for access yet, but I haven't heard about any big discrepancies for 'Western' nations, that would include Canada and Norway.
"No." EDIT: Wait, did you just explain that the Chinese lie about GDP data, and then immediately after take their consumption figures at face value? Bruh.
who cares ... as it is facts proved it. You go to China today and back to your country you will be shocked your country is actually a 3rd world country compared to China. In business no nation can compete with the Chinese ... the master in business not war .
As a sidenote, that's so damn confusing. Imagine if China's next head of state were named Xi Ping, or the next US President was Joe Bide. It's confusing enough in regular speech that there was a George Bush and a George Bush Jr., but at least they were related.
I know, they relied on Chinese GDP numbers to show the economy was doing badly under COVID. But now they are telling us that Chinas numbers can't be trusted
When China doesn't collapse, they need to say it is because the chinese are lying haha. Let them think whatever helps them sleep better at night, because the end of US hegemony is starting this decade.
@@wisedesi442 Yes it was, I'm very much chinese as you can see by my name. But you probably don't even know if I'm being ironic or not, as the average american is as smart as a wooden door.
They ended lockdown about 6 months ago and there was an uptick in consumer goods use. People's free to satisfy urges but now that it has been scratched it'll depend on whether they have the jobs and savings to maintain that level of consumption.
GDP does not mean much. What's the use of having a high GDP if you have homeless, crumbling infrastructure, banks collapsing, rich get richer, money gone for the military?
It's a measure of a country's economic activity, not of standard of living or equality. However generally a bigger pie (GDP) is better than a smaller one, though it's also a matter of how you share it. Having said that, on wealth equality indexes China is roughly on par with the US, both of which are well behind most of Europe. Standard of living and quality of life are also much higher in the US and Europe than China.
@@cameron6770 I mean lot of the Europe got rich by being imperial looters,being tax havens or oil rich country . Countries like Germany are exceptions with an innovation economy like Taiwan and usa
“We know they are lying, they know they are lying, they know we know they are lying, we know they know we know they are lying, but they are still lying.” - Aleksandr Solzhenitsyn
As a psychometrician, I should say that for any model, there is a risk that certain cases won't be well represented. When a model doesn't fit part of the data, we examine the reasons for that. You can only convincingly propose an explanation (which may include one or more reasons) after you exclude the other reasons. For the light model, if we found out that, for example, free countries tend to be richer, and that richer countries tend to use a bigger proportion of their GDP in lights, the reason "dishonest GDP reporting" would fall apart. So, the fact that these explanations were not excluded means that no one should believe the dishonesty thesis based on that model alone. Of course, without such attempts at explaining, that model can still serve as part of a body of evidence. The idea here is accumulating models for each of which there is a correct explanation for China deviating, but in which the possible explanation that would exonerate China from one model is mutually exclusive with the possible explanation that would exonerate China of the other model. When you sum up the findings from all these models, those exonerating explanations cancel out until the only explanation left-and therefore, the correct explanation-is that they lied. This is the idea behind circumstantial evidence. But, again, since we only have access to one model (the lights one), here, no one should be convinced that China is lying about the GDP based on it alone... this is where we examine other, non-statistical evidence in light (haha) of that model.
"When you sum up the findings from all these models, those exonerating explanations cancel out until the only explanation left-and therefore, the correct explanation-is that they lied."
There's nothing miraculous about a population boom driving a country into the middle income trap, it's just more impressive and efficient at this scale.
China uses to be a country which overcomes the traps, it is why most great continental empires fall definitely, but China keeps rising and reunited again and again after each collapse,
@@Emilechen china is still in the middle income trap. when they are like japan; stagnant, but with high domestic consumption and high tech exports, then we will say they have overcome it.
This was an impressive presentation, which discussed complex economic issues in terms readily understandable by general viewers. Warmest compliments. :)
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100s of global economists, analysts from banks, Funds, investment banks, IMF, WB, insurance companies, think tanks etc spend all their time to go over Chinese data using a fine comb. He is using an ad hoc quote out of context from almost 10 years ago from the ex-premier.
"Don't trust any statiscs yourself didn't falsified." GDP in general doesn't matter that much if you are looking for company profits, individual wealth or in general if a economy is healthy.
The brightness study has some flaws. For example, Paris has a higher GDP than Shanghai, yet Shanghai is brighter. Another factor is real estate, given how much of the Chinese economy is real estate and how many people own 2nd or 3rd homes, those houses don’t actually get used much, the ghost cities being the most extreme example, so a trillion dollars could be generated by real estate and not register much light. Granted the construction is shoddy, yet it’s technically valid Gdp, perfect for a local administrator to sign off as their growth targets and pass up.
In the past few decades, China has urbanized and built many high-rise buildings. People move to tall buildings, which block out the light. Those formulas don't work
China has just been demolishing ghost cities to then build more ghost cities strictly to increase GDP…it is not a good practice. Real Estate is 1/3 China’s GDP so this build, demolish, repeat will continue as long as the individual Chinese keep getting scammed by their local & national government.
Geez you should stop talking about China and actually read something first. You sound like the typical internet China-basher who keeps repeating the same cliché over and over again cuz “oh oh I get it cuz I saw something about something in China somewhere on the internet”. “China economy is mostly real estate” 🙄 “Ghost cities this and ghost cities that” Up to this point anyone who mentioned stuffs like this are certified idiots who apparently do not have the ability to learn things on its own and take internet bullshits about China for granted. With a bit “imagination” sure I assume things have played out perfectly with each knowledge gaps filled with nothing but assumptions
"Can we trust China's GDP data?" Let me answer your question with another question: "Does the publicly-released GDP data from the Soviet Union match with the true economic data estimated later after the fall of the Iron Curtain?" Both questions have the same answer.
China exported 994000 vehicles in the first quarter, surpassing Japan as the world's largest automobile exporter for the first time, which is a milestone event. Of course, these car export figures are all fake numbers made by various countries in cooperation with China, and China will continue to collapse🤭
it's simplifying. What happens is China counts gdp twice, once by regional gov, and once by the central gov. usually it's consistent, The premier was pointing to the regional counting.
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Keep in mind that this video only talks about the bad ways to boost your GDP, but there also a thousand good ways out there that the Chinese government actively on. If you don't like to hear them does not mean that they don't exist.
@TLDR News Global You mention Li Keqiang, the former premier, but show a visual of Li Qiang, who is the current premier. I understand that the names are similar but it's a silly mistake.
Whenever the Chinese economy comes up, it needs to be pointed out that China did not eliminate poverty (in spite of what they claim). Former premier Li Keqiang stated in 2020 that over 600 million Chinese citizens lived on less than 1000 yuan a month ($154 at the time or $5.13 per day). According to the World Bank, China is a upper middle-income country (if the Chinese government's GDP numbers can be believed towards the upper end of the bracket, depending on how much they lie about their GDP somewhere in the bracket). The poverty thresholds for upper middle-income countries according to the World Bank are between $5.50 and $6.85 a day. The Chinese government uses the 2011 threshold for poverty in the poorest of poor countries ($1.90 a day) as a threshold for themselves, whereas between $5.50 and $6.85 per day would be appropriate according to the World Bank. So, in the most generous scenario around 45% of China's population still lives in poverty, in less generous scenarios the value exceeds 50%.
I remember Li Keqiang stated that in all CITIZENS, which includes elderly people, children, disabled, saying their income is less than 1000 per month. Although their are still a lot poor people, but I think you should notice this. For those who have a job, this isn't the case.
Only the Chinese government. The legitimacy of Western governments does not depend on economic performance, nor does it depend on social security, crime rates, etc. In the west, they are problem for the people, not the government.
I saw a video in the last day where China had uncountable numbers of empty shipping containers just sitting at their docks, not moving for days upon days. Doesn’t sound like they’re exporting anywhere near what they are saying. Good thing I’m not Chinese or they would have had my head over saying that.
It could be that or it could be they overbuilt containers and now have too much. Without credible data concerning the quantity sold (ajusted for inflation) we can't really know for sure.
Rather reminiscent of the Russian official and train yard manager who "increased" the amount of freight they had moving through their region by having one special train whose only function was to pick up rail cars, and shunt them through the area to be counted. After passing through the rail yard, they would go to a siding, move the rail cars around, add or remove some, then run the train back through the rail yard. Or like the example in Britain where a railroad manager congratulated his staff on their efficient movement of freight through the town at night, never realizing that his staff had been chasing a load of rail cars that broke loose from the locomotive all night (cars rolled down the hill, through the town, up the other side, and kept repeating the process).
@@nicholasconder4703 they did that with their tanks they had parade and they kept changing the number on tank to seem like they had more than what they really had. I see why China and Russia got married
@@JeRefuseDeBienPrononcerBaleine That's the point, though. China is claiming they have seen a 14% increase in exports this year compared to 2019. If that were true, they wouldn't have any empty containers.
You referenced China’s Premier, Li Keqiang… who is the FORMER Premier 😂… but showed an image of the NEW Premier… Li Qiang…Maybe all those Chinese names sound the same to you… but it’s pretty important to get the names right …
not an economist or statistician but worked in the US and China tech sector for about 10 years each, my personal experience is that US productivity is over-estimated while China productivity is under-estimated. the so called "lighting" index can be simplified explained, Chinese people live in very dense city apartments and more conscious of turning off the lights to save money
GDP is a measurement communist used to measure its economic output. The more useless products you make with no customers the higher the GDP. The soviets were so good at making unwanted things they had warehouses full of products of poor quality that nobody bought. They just kept making them .
Good video, but I think you used the wrong units on the local government debt graph. Local government debt is more like 35 TRILLION yuan (~$5 T) , not 35 billion.
Can you trust someone who doesn't have freedom of expression? No, probably not. And even if the data is "good", it might be skewd by underlying factors that paint an entirely different picture.
The year on year consumption growth is just a return to normal after there extended covid measures and it not growth when viewed 9ver a 4 year period. Also there banking sector is in the edge with mortgage defaults. Don't be take. I'm by tl Dr's attitude, they can't be blamed tho, to be impartial requires real evidence and its hard to get that level of proof when dealing with china
Lying about GDP is not the norm and in democratic nations most have independent organizations that also calculate GDP so if they did want to lie it would be obvious.
@@matthewshields Lying about the GDP is the norm for china not anyone else. The house/building industry has collapsed and keeps defaulting on it's debt repayments. The yuan is worthless. Companies have left china in there thousands and moved to Asia. china in not exporting any product at all. People, companies and countries have stopped investing in china. Unemployment is running into hundreds of millions of unemployed people. Belt and road is putting other countries into uncontrollable debt and costing china billions. Corruption is off the scale as is embezzlement and theft especially by the ccp. So what bit of the rise in GDP is china not lying about ? The fifth world country is bankrupt, broke, done for.
China's GDP numbers are ACCURATE in the sense that even if officials are somewhat overstating the numbers, the Chinese underground economy never gets reported. So overall, the understating and the overstating cancel each other out, and the official figures reflect very closely reality. In my opinion, the understating numbers are bigger than the overstating ones. In other words, if the official figures are overstated by half a percentage point, say from 4% to 4.5%, and the never reported underground economy, which in my opinion is at least worth 1% of the official number, then the actual economic growth is 5% [4.5% reported, minus 0.5% overstated, plus 1% never reported] = 4.5 -0.5 +1 = 5% actual growth.
Every country has underground economy. India has it too , we call it secondary money, every city has it is own unofficial structure from which financing of businesses takes place. And it is actually well managed by people. Indians are good at moving their money and saving them which doesn’t reach the government or any officals records. I am pretty sure indian have secondary money worth 1/3 of its gdp.
@@brianjones7660 biased only against the unfair, misguided, twisted n narratives and tactics. First, I don't benefit anything from either side with my views. Maybe we, from the East, can see a more balance situation, not influence by the West or China. We have traveled to both sides of the world before so our understanding is much better than most. I have seen the degradation of the West, especially the common people and also the rise of the Chinese people. All these happened is because of the government they have. So, my only bias is trying to be real with my postings. It may interest you to know many ordinary persons from the East has been to other countries many times, more than many people from the West. Thus the reality on the ground can be clearly seen by us.
One thing I always ignore when it comes to governments around the world is when they brag about how good the economy is doing and how low unemployment numbers are doing, a lot of governments like to brag about these things, the US and UK are prime examples of that and yet, to the average person, it means nothing. What really matters is growth from the bottom up that lifts the quality of life for everyone, seriously, in the US and UK over the last decade, they've been going on about how well the economy is doing and yet, a lot of the public feel things are going backwards, not forward, it's all meaningless unless it impacts the people, especially the low and middle classes. So even if Chain or other countries are lying about it's GDP numbers, it's only fooling its own people and the best way to lift the quality of living is from the bottom up, clearly that isn't going so well in the US or UK, hence a lot of people complaining, don't know if that's the case in China but it wouldn't surprise me.
@@FirestormX9 wrong. After spending 3 years in Shanghai in my late 20’s in finance the fraud amongst Chinese companies and earnings reports was so rampant it was untradable. A complete fraud from top to bottom. I can give you 10 examples off the the top of my head like luckin coffee. Only a few get caught. You know nothing of fraud Vader. The force is weak with you.
You're spinning it. TLDR did NOT say you can trust the retail numbers, it only says that the retail sales increased. Meaning, to paraphrase, the absolute number may be suspect, but the upward trend is not.
Correction at 1:32: The person shown is Li Qiang, not Li Keqiang. Li Qiang is the current premier and former party secretary for Shanghai, overseeing the city’s lockdown last year. He is seen as a close alley to Xi. Li Keqiang was the former premier who is now retired. The Wikileaks document likely came from Li Keqiang. The video just showed the wrong person.
Quite a lot of Westerners don't believe in China, but they keep watching some videos about China, which is very interesting. From "China is about to collapse" in 2000 to "China may collapse" in 2023, a considerable number of people have been accepting such messages, but they did not expect to witness China's growth from the world's top 100 to the world's second.
GDP is meaningless because it doesn't tell about how good a nation is or how the population is living. GDP per capita is a more reliable indicator. For example, China's GDP is the second largest, but its GDP per capita is 100th in the world, just - above Botswana 🇧🇼 and - below Mauritius 🇲🇺, Both are African countries. OK go spend your 50c, Charlie Chan. And go upstairs and help mom fold your laundry OK?
@@brianjones7660 The funniest thing for you Westerners is that China's GDP is not credible, and China has collapsed, from the last world to the present. But you are getting more and more anxious, and you can only anesthetize yourself by comforting yourself: everything in China is fake. Before 1990, no American or European would feel anxious about this issue. If you don’t believe me, ask your parents, mothers, grandparents. The fact is, whether it is on RUclips or your propaganda machine bbc, cnn, there are more and more reports. I believe you will not pay so much attention to a poor country in Africa. Combined with the fact that all around you are made in China, you can know China You don’t have to believe the data in the communiqué on whether the GDP has increased, but the world’s second largest economy and the world’s largest industrial power make you people who don’t have any dialectical materialism have to report on China frequently and do business with China. Let you question whether GDP is fake, it can comfort your fragile hearts
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Honestly I think the video is rather naive on how dishonest china is. Also ontop of that alot of the infrastructure is so poor it breaks in a couple of years.
It is amazing to me that there are so many people who still believe that offcial figures and statements coming from autoritarian governments are reliable. As a student of history it is amazing to me how literally every time in history when a claim comes from an autoritarian government it is actually false but people still hold "this time is different" mentality.
@Jack Smith So evidence number 1: during the Lockdowns in 2020 China still had a growth rate of 2.3%. That's absolutely ridiculous! First how can you grow when literally the whole nation was under lockdown? The consumer spending spiked only in the beginning then it went down. So 2020 compared to 2019 was a "better" year for the Chinese economy even tho for several months they were under lockdowns. Yeah I don't buy that. Evidence number 2: the light emmition from China was lower than before. It is a well known fact that the more developed a country is the more light emmitions it produces. Evidence number 3: China continue putting major lockdowns in major cities like Shanghai. On top of that the consumer spending in China literally plummeted. Down the line they had and still have a real estate crisis which still decreased economic activities like building and destroyed the savings of the Chinese who invested in the real estate market. That's is after all the only real way the Chinese can invest there money. So yeah after locking major cities like Shanghai, consumer spending going down as well as real estate crisis the economy still grew? Yeah I wonder how that happened. Or maybe they just lied about it.
@@commemorative He is a smooth brain who doesnt understand economic system like communism and capitalism. And confuses them with democracy and authoritarianism
Lol Vietnam is also governed by a communist party not sure why you included them in that list, could have mentioned Indonesia or Malaysia, also why add Russia...
@@commemorative no, Vietnam is the same as China. Communism with Vietnamese characteristics. 😂 Vietnam is following the footsteps of China . Vietnam is still poor , So No power. Therefore , They are keeping quiet for now , keeping a low profile . After 2 decades later , if it succeeds economically , it will start to take over everything just like what China is doing now . They've got nothing to lose because They already Lost since 1975. Google is not blocked in Vietnam . True . But Google Was NOT blocked in China either in the beginning . CCP eventually became more suppressive after it gained more wealth and power . That's a Fact . . . Vietnam is following the footsteps of China. The Vietnamese government is keeping a low profile for now because it doesn't have enough money and power yet . Video shows a Vietnam blogger leaving his Bangkok home for the last time | Radio Free Asia (RFA) Duong Van Thai is now in police custody in Vietnam. Sources told RFA that they believe he was abducted from Thailand by Vietnamese agents.
Night and day, too. Li Keqiang would have been a much better leader for China. Li Qiang, well, he's just another sycophant for Xi. A Xicophant, if you will.
@@blairmarshall544 if some1 cant even guarantee the information in their presentation, how can one trust it, oh wait, idiots can, the narrative of a "China not actually that strong" is a good sell, so no1 care about using wrong data or name, since no 1 care about truth, they just want eat up some good shlt.
We basically can, yes. GDP isn't a terribly good indicator of actual quality of life or the "health" of an economy, but as far as the raw GDP numbers go, the ones from the UK or the US should be pretty accurate.
Here's another metric. I work at a start-up tech company that makes SAAS products that sells all over the world. We use a random sampling pricing algorithm that uses the mean GDP per capita to price the products. For instance, the price of our product in Brazil is about 20% less than in Mexico -- and this perfectly correlates to the difference in GDP per capita between the two countries. Our pricing algorithm, for China, approximates the GDP per capita of China as approximately the same as Thailand -- whose GDP per capita is about 40% less than China's. There are many reasons why this shouldn't be taken as a metric to correlate to China's GDP (one important reason is that this is not a representative random sample). In any case, we did find it shocking that the price our product was competitive in China at such a low price.
@@youarebeingtrolled6954 It's random sampling from the given dataset of customers -- which is inherently distinct from a random sample of the population.
GDP is an outmoded metric from the 20th century. It does a poor job of capturing 21st century serviced based economies because GDP largely measures agricultural and manufacturing output. But when your economy is 70% based on services, GDP breaks down as a misleading and inaccurate metric if people use it to measure the size of an economy. For this reason, in the 21st century, professional economists generally rely on inclusive wealth as the more accurate metric because it measures all forms of economic resources: natural, human, etc.
Considering they're having a youth employment problem and many factories are not running at capacity, I'd say they're more likely in a recession or about to be. Apparently, the government is trialing a program to move young people to rural provinces under the guise of an "internship program." But, it will likely keep them there so the employment problem in the cities lessens.
The ccp will keep trying to fix the problem by lying or cheating a free market system and that is going to make China end up like the ussr did when it fell apart. The more you try to cover it up the bigger the bubble gets and it will burst eventually no matter how hard you try to cover it up.
I think that "Free democratic Nations" have a much bigger problem with GDP and economics than "Autocratic Nations" like China. Europe is worldwide seen as "decadent" and in inner struggle (Nuclear Power shutdown, Climate chaots, Industrial shutdown and movement to China etc. etc.). In China a lot of building and development activities are vivid given. But in Europe only stupid discussions and economical stalemate is given for decades now. Furthermore it is said, that the GDP growth in purchasing power is in China even higher than in Europe, where high Inflation anhilitates the nearly zero economical growth. Nowadays Europe is the ill man in the world. And not China.
Errm. Europe and other countries do discuss serious business. They are just in the background and vastly underreported in the news circle. There are plenty of discussions on serious issues all around the world.
Nice anti western propaganda. But China's economy is built on borrowed money. Soon china will have to pay it all back and collapse because their population shrunk and there's no one to pay back wealth.
I'm not a economist, I'm just a normal chinese living in china, i can tell u, the economy is good, at least now. cus i saw a dozen tour bus when i drove to work yesterday morning, and the upcoming may day holiday, the high speed train tickets was sold out immediately, i am planning a trip to Guangdong this holiday, and hotel price doubled or tripled everywhere, seems like everybody is traveling and having fun.
the major reason for the huge price differences in hotels is that the canton fair is starting this week, a ton of foreigners are coming to order supplies.
the light measurement thing is actually a really bad way to gauge China in particular. In the Haidian district, China's main high tech sector, its an absolute ghost town after 10pm. Chinese culture strongly encourages people to go home/to bed early, and the 9-9-6 system means that people work all day: therefore they literally can't work at night otherwise they would be working 24 hours a day. So the brightness of lights test would be an especially bad way to gauge China in particular.
Not really because in that case these workers don't contribute to the local economy after working thus reducing the overall economic output. That they can't show that China is weaker economically speaking not that they're different.
What's more likely? That China has a different "light use culture" than the entire rest of the world? Or they exaggerate their GDP figures? Hell, I can't blame them, fake it till you make it right?
@@JeRefuseDeBienPrononcerBaleine thats a flaw argument since nothing suggest if the workers contributing or not is being taking into the fake GDP or not from the beginning. also even if those worker is doing a work-sleep-work-sleep cycle, they still getting paid, and the usual outcome is they transferring these money back to their home town where their parents and children will use these money that will have effect in GDP. dont tell me you believeing that all chinese workers are slave that earn nothing do you?
If the numbers are shady to you, then shouldn’t the US government be all relaxed and have nothing to worry about? Instead their claiming of overproduction, overcapacity, national security concerns 😂
A good rule of thumb whenever you get CCP's (or russian) official numbers: If its good news, remove two zeroes from the end of the number, if its bad news, add in two zeroes to the end. This way you automatically get a more accurate number than the official one.
A simpler and non-cheatable metric In 2006, the United States was the largest trading partner of 127 countries worldwide, compared to 70 for China. By 2011 it was completely reversed, with China being the largest trading partner of 124 countries, compared to 76 for the United States.
@@Craigsinglee Virtual rent averages more than $2 trillion a year, accounting for nearly 10% of GDP in the United States. China does not count virtual rents. The annual income of the US legal profession alone amounts to $1.4 trillion, accounting for 6.7 per cent of GDP. The business income of China's legal profession reached US $30 billion, accounting for 0.16% of GDP.
@@Craigsinglee Annual cement production in the U.S. is 90 million tons, while China's annual cement production is 2.3 billion tons. U.S. steel production is 80.5 million tons per year, China's steel production is 1 billion tons per year. The U.S. produces less than 10% of China's building materials. Here's the funny thing. Real estate and construction combined account for 16.36% of U.S. GDP. China's GDP is 13.42% real estate and construction.
@@miaorenfeng1 sorry, but basically if you take out infrastructure and real estate investment from china GDP, you have -48% GDP anyways, theres no argument about it. US economy is not reliant on both infrastructure and real estate or government investment, that is a fact.
@@Craigsinglee Didn't you see the data I posted? Real estate and construction account for 13.42% of China's GDP. China's manufacturing sector accounts for 27.7% of GDP, much higher than real estate and construction.
I, Xi, thy Supreme Leader, proclaim that all is perfect in the Middle Kingdom! Zero poverty and lovely levels of provincial debt! Right, state-run media? "Yes, Your Gloriousness, absolutely! Please promote me!"
If the china gdp is inflated then the actual debt ratio is understated by a lot! This explains the difficulties to reduce same debt- most likely it is so big that china will default. So the remedy is to increase M2 which china does.
GPD is a difficult subject. It is almost impossible for an individual or even an institute to get an insight behind the figures. I am from Hong Kong. Hong Kong has been blessed by the economic growth of China. HK has a population of not more than 7million. So, when a person look at the GPD of HK it is good but not alarmingly good. But, for those who really understand HK, they would have the insight knowing HK enterpreneurs employed no less than 30 million work force in Guangdong alone. 5 times its entire population. Same as United States, they have huge investments all over the world. So what does GPD means? It is only a measurement of activity level in that country. Outsiders only knows that local Chinese officials always exagerrated their GPD. I am an insider. I have personally witnessed local Chinese governments under value their GPD.
1:32 Good effort trying to spell Li Keqiang's name correctly. He's not the current Premier, though. That's Li Qiang, who's been on the job since March 11, 2023. Sorry you got that wrong!
@@Essentially_Nobody Re: "Wdym "on par with our own UK data"? Oh?.....Sorry.I forgot, there still some that believe.................Lol!...Your not a 'Flat Earther' are you? Lol!
UK is not that bad. You can scrutinise that data, and meaningfully challenge it. Same with the US, and anywhere in the EU. It's not like that in China or Russia.
The GDP of North Vietnam was a thousand times less than that of the United States, and yet this did not stop them from winning the war in 1975 and driving America out. my personal opinion is that in the economy, in the war, in the personal life of citizens, the value of GDP is unreasonably exaggerated.
@@Catscounteratack the meaning of the existence of armies - destroy enemies of their state. why should it matter whether it is regular forces or guerrilla units? and if these guerrillas are so overpowered, it only shows the ineptitude of the army. and why, then, was it even necessary for USA start a war against an enemy with whom they do not know how to fight?
Absolutely NO, as suggested by the FACT that 82% of the world does more trade & business with China than anyone, and how China uses much more total energy & shipping than every other country, by far.
Most China's debts is backed by tangible infrastructure projects, not by financial bubbles. Its import/export data correlated with its GDP growth. If you count by PPP, the real purchasing power, China's PPP already passed the US PPP. Which means a large portion of the US GDP comes from intangible asset, many of which are financial bubbles.
Not even close. PPP dosen't matter internationally and the tangible infrastructure you talk off cannot be used as collateral or even be considered of passable quality.
Furthermore to bounce off of the statement above, have you seen where those infrastructure projects in China go? Companies building cut-rate apartments that lie empty, just to collapse under their own weight and creating a bubble that has people refusing to pay mortgages on the unfinished projects. People’s life savings sunk into these projects that are built using the cheapest materials and are only built to raise enough money to build more and cover other costs, rather than serving a need or a reasonable purpose.
China is built on bubbles. It's Banking and Real Estate sectors are literally built on lies. >Assets tied to real tangible property Ah you mean UNFINISHED Tofu dredge projects? yeah cope more.
To paraphrase Goodhart's law, "when a measurement becomes a goal, it ceases to be a RELIABLE measurement".
I question if this isn't by design though. I'm not someone who's regularly running on of the worlds biggest economies (which they are regardlesss of adjustments). But it seems to me they have a lot of incentive to pretend their GDP is better than it is when one of the biggest reasons the CCP has a lot of support is the Chinese populations disinterest in politics other than economics.
@@0xCAFEF00D they aren't disinterested in politics, they're kept in a bubble wherein they aren't facilitated to acquire knowledge about politics in other countries and the difference between theirs and other countries. Which means, they aren't kept disinterested, they aren't able to know what to question, where and by how much. So they take what is currently present as the only manner in which it could exist.
For some reason i read "a Goodfather law" XD
@@0xCAFEF00D Thank you! ~You know yourself better than we do! This is very interesting!
@@jojored7966 Bot account.
This reminds me of the old economists joke. Two economists are walking down a street when they encounter some dog poo. One then states to the other, if you eat that dog poo I will give your $1000. After a moment the other economists eats the dog poo and gets his money. They then continue to walk down the street when they see another piece of dog poo. The economists, with the newly acquired $1000, then states to the other, if you eat that dog poo I will give you $1000. The other economists, after a moment, complies and get his $1000 back. They continue to walk down the street for a while when one of the economists states to the other, “You know we both just ate some dog poo for no benefit to ourselves”, with the other replying, “True, But at least we have increased GDP of the country by $2000”.
only if they payed taxes!
what does gdp have to do with taxes
@@bullpup1337 well on a practical side GDP figures get calculated using tax revenue.
Work done in the shadow economy can be accounted by some calculations but eating poo most definitely wouldn't have been tracked. Obv. this is only a technicality and not really his point.
And created 2 jobs
ruclips.net/video/NAgP-l3k7Ec/видео.html
当imf宣称中国经济发展好的时候，这个频道就不会相信IMF ，当imf宣称中国经济不好的时候却选择相信它。这个频道与西方大部分频道一样是可笑的😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
This is the same problem that the Soviet Union had. Every republic and oblast of the USSR had to produce X number of items, and if they produce above the quota, the target will be up to unrealistic extent.
It led to the phenomenon of "pripiska" where economic managers - from farm manager to the regional party committee, would overstate their actual output to meet the quota, by faking numbers and overreport supply of goods.
In 1984 it was revealed that the Uzbek SSR has not reached its target supply of cotton by almost 80%. Around the entirety of Uzbekistan's top bureaucracy was jailed for corruption.
China is capitalist thoo
@@hanismh6300 Not really. Sure, you can't say that they're properly communist either, but definitely not capitalist, as they still use five year planned economy, which is the very opposite of capitalist market economy.
@@hanismh6300 *AHAHAHAHAHA*
@MarkChristian State capitalism is still capitalism.
@MarkChristian Saying they use the same system isn't exactly accurate. They both use state run capitalism, but the way it is implemented is very different.
As I study how GDP and economies work, it becoming clearer amd clearer how easy it is to artificially inflate GDP value even if the economy of a country is really struggling.
what, a single number does not accurately measure the health of a giant economy? I am shocked, what a surprise
Which is why economists now use the Inclusive Wealth system to measure the wealth of a country.
China
GDP: 18 Trillion
Inclusive Wealth: 34 Trillion
USA
GDP: 25 Trillion
Inclusive Wealth: 140 Trillion
@@Crystal_Moon248 Isn't China's wealth 85 trn or more?
@@prasanth2601 Which one? GDP or Inclusive Wealth?
@@Crystal_Moon248 Wealth. In wiki it says USA has a total wealth of 140trn and Chn with 80+ trn
You can trust EXPORT data than GDP data, because EXPORT data must be matched with IMPORT data by other countries. So, one question: which country exported most values of goods in 2022?
@@Allahu_Akhbar_Official China gained Independence from who? It was ruled by Chinese and replaced by another one. It is only a regime change.
@shauryaaggarwal8319Qatar is the richest country in the world. Venezuela has oil, but...... Islam make people rich.
@@ndorobei4391 buddy... Country's natural resources has nothing to do with "religion". I hope you aware of these kind of terminology
你这么问视频主他会很尴尬的 😂😂😂😂😂中国是答案
If the "brightness of lights seen from space" method of GDP growth estimation catches on, Chinese regional administrators will simply install five hundred million floodlights pointed at the sky.
Hahaha!
How does this system to corelate lights during light to gdp even work?
Weapons of Mass Destruction my ass. USA cant be trusted either.
not necessary, China prefers spend this money to build their own Space Station Tiangong, their own geolocation satellite system Beidou or other Space projets,
@@Emilechen I think maybe you missed the joke?
Transparency isn’t one of the CCP’s values
20k usd for toilet seat in capitol isn't transparent neither
Weapons of Mass Destruction my ass. USA cant be trusted either.
.......so we keep hearing.
It's funny how we in the west parrot things we hear in news stories about a lack of transparency in China that are followed by news stories about Julian Assange being a terrorist, mainstream media helping the state track down and brutally arrest leakers at gunpoint and the routine use of the secrets act to keep information about potential state corruption and mass murder under lock and key for sixty plus years.
We are fucking morons.
@@royk7712 but if you know that they spent 20k, at least theres more transparency :D
@@bigboss337 this is exactly the problem. US gov blatantly deceive public and use media to downplay their lies. Cpc is using their superior government control to convince public that they can do whatever wish cpc wants to do as long as their people benefit from it, Cpc doesn't care what others people think. You can't just generalize people around the world on how people do things.
West need these kind of video to ease their fears, more please.
The west is very broken now , they need more of those articles and videos to feel better
Any info shared directly from any authoritarian government, especially one that stamps out any form of dissent or criticism, should always be taken with a pinch of salt.
You're right of course......and Julian Assange would agree too were he not indefinitely in prison and unable to read your comment.
@@kokobwild2413 wonder why he’s in prison… Is it because he totally broke the law by releasing classified documents online?
@@jtgd Wow, that's sounds totalitarian. You must also like Kim Jong Un. why not move to North Korea? Law seems to be some kind of god to you.
@@jtgd He is Australian , not American . You people are so dumb and hypocrite
@@yuriyu123 There's a big difference between totalitarianism and protecting classified intels.
Thank you for confirming my speculation: the Chinese does have a policy “One Country, Two GDP”, one official GDP and one real GDP!
Actually there isn't a real GDP. Due to the mandated goals set, there are falsified data at each level from the bottom to the top. So even the central government doesn't know what's really the GDP, just that it's less than what's reported. This is common knowledge for Chinese people, people joke about it.
No speculation. I known it for years. They have admitted to it before but cover it up by drowning it out by boasting their fake statistics
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@@indiasuperclean6969 This shows how desperate and jealous you are about India, Don't be senseless fool, be wise 🤡
which country doesn't do that though? ...(as long as you exclude the Scandinavian ones I mean)
"Can we trust China's-"
No.
Done.
Weapons of Mass Destruction my ass. USA cant be trusted either.
but we can trust that China is collapsing every year since 1949, once per year,
"Can we trust America's-"
No.
Done.
@@farminjojoreferences967 I rather trust the CIA than I will trust China. DONE. On the measurement scale of trust. CIA -10, China -23,000
know the difference.
@@farminjojoreferences967 of course we can trust US's GDP, what a silly come back...
Just one more point to the good explanation. The fact is the YoY figure are a comparison to 2022 during which the largest economic region was under strict lockdown which is Shanghai. Therefore, it is rather "normal" that both retail numbers and GDP are on the rise. But still, having lived there and worked there in the industry sector, I can assure you that the number of shell industries, the number of empty new buildings, the number of empty roads leading to nowhere is AMAZING...
It's strange how you came to the conclusion that you haven't been to China before? Do you rely on your media? I have visited many countries with per capita GDP twice that of China, but unfortunately, I think these people are really poor
Well, people in China have been joking about government reported numbers for decades now. But what really hitting home is the job market. It's bad right now, even worse than during the lock down. My uncle who just came over to visit said that people are competing over the few job openings, each willing to accept a lower pay, that it's driving down the wages. That's what really matters to the people, not some number people never really believed about.
@@xiphoid2011 that must be absolutely soul crushing for every job seekers there. What china need most at the moment, is to increase median wages across all sectors, to meet their governmental goal of increasing consumer demand. Sadly, I doubt that will be met at the moment.
", having lived there and worked there in the industry sector,".... Your ESL classes were a waste of time, Charlie Chan.
Reading comprehension will be your friend someday...😂
Wow I guess China is just a fake country then, Nicolas Z who apparently lived in Shanghai once
I'm skeptical of the exactness of light/gdp growth correlations. Most light seen from space is streetlight, and there comes a point where you don't need to build more. Your cities can be way denser but still have a similar number of streets and therefore need for streetlights. And what if a country's more focused on building rail than highways? You don't light up rails at night.
Great point, just like the big mac index these studies are just for reference, not reliable
Ya know, this is the best explanation I have heard for discrepancy between the lights study and official GDP for China
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@@indiasuperclean6969 congratulations for treating women good.
Don't think light study is a good indicator of wealth, otherwise Canada or Norway will be poor
@@notawidow6560 have you read the study? I haven't paid for access yet, but I haven't heard about any big discrepancies for 'Western' nations, that would include Canada and Norway.
How about east Jerman have more light than west Jerman.
"No."
EDIT: Wait, did you just explain that the Chinese lie about GDP data, and then immediately after take their consumption figures at face value? Bruh.
Nothing is real and it must be fake. It has to.
Any "Can we trust China.." question is a pretty easy "no" from me, dawg.
who cares ... as it is facts proved it. You go to China today and back to your country you will be shocked your country is actually a 3rd world country compared to China.
In business no nation can compete with the Chinese ... the master in business not war .
I trust china to keep my organs secure.
The current premier, who appears in the video, is Li Qiang. Li Keqiang was the premier between 2013 and March 2023.
As a sidenote, that's so damn confusing. Imagine if China's next head of state were named Xi Ping, or the next US President was Joe Bide. It's confusing enough in regular speech that there was a George Bush and a George Bush Jr., but at least they were related.
@@adamperdue3178 cope and learn names. How many Adam, Alex, John, Tom, Jimmy or whatever do you know in your life? 😒
11 days ago: Is China's economy in trouble? According to (their gdp) numbers.
Now: Is China lying about (their gdp) numbers?
I know, they relied on Chinese GDP numbers to show the economy was doing badly under COVID. But now they are telling us that Chinas numbers can't be trusted
When China doesn't collapse, they need to say it is because the chinese are lying haha. Let them think whatever helps them sleep better at night, because the end of US hegemony is starting this decade.
Seems like re-education camp was successful.
@@wisedesi442 Yes it was, I'm very much chinese as you can see by my name. But you probably don't even know if I'm being ironic or not, as the average american is as smart as a wooden door.
It has been known for a while that China lies about their growth
They ended lockdown about 6 months ago and there was an uptick in consumer goods use. People's free to satisfy urges but now that it has been scratched it'll depend on whether they have the jobs and savings to maintain that level of consumption.
GDP does not mean much. What's the use of having a high GDP if you have homeless, crumbling infrastructure, banks collapsing, rich get richer, money gone for the military?
That sounds like America
It's a measure of a country's economic activity, not of standard of living or equality. However generally a bigger pie (GDP) is better than a smaller one, though it's also a matter of how you share it. Having said that, on wealth equality indexes China is roughly on par with the US, both of which are well behind most of Europe. Standard of living and quality of life are also much higher in the US and Europe than China.
@@cameron6770 I mean lot of the Europe got rich by being imperial looters,being tax havens or oil rich country . Countries like Germany are exceptions with an innovation economy like Taiwan and usa
@@VARMOT123 maybe study history a bit better with those statements 😂
@@VARMOT123 You don't think Germany and the USA were/are imperial looters? You're incorrect.
“We know they are lying, they know they are lying, they know we know they are lying, we know they know we know they are lying, but they are still lying.” - Aleksandr Solzhenitsyn
Reason there are people other than them and us who does not know that them and us know they are lying.
wow, how that fit perfectly when certain hegemon deny they bomb important lifeline of ally state.
We know everyone else also lying.
i'm a bad liar~
Are you talking about the investigation result of Nord stream explosion issue? 🤣
Follow up question: Can we trust the IMF's data on China?
yes no
@@hansantonio110 yes, except on China unbiasly🤣
Is it possible that what you hear is the true lie?
Not really. As far as my professors know, most international institutions really do not have good measures on developing countries in general.
As a psychometrician, I should say that for any model, there is a risk that certain cases won't be well represented. When a model doesn't fit part of the data, we examine the reasons for that. You can only convincingly propose an explanation (which may include one or more reasons) after you exclude the other reasons. For the light model, if we found out that, for example, free countries tend to be richer, and that richer countries tend to use a bigger proportion of their GDP in lights, the reason "dishonest GDP reporting" would fall apart. So, the fact that these explanations were not excluded means that no one should believe the dishonesty thesis based on that model alone.
Of course, without such attempts at explaining, that model can still serve as part of a body of evidence. The idea here is accumulating models for each of which there is a correct explanation for China deviating, but in which the possible explanation that would exonerate China from one model is mutually exclusive with the possible explanation that would exonerate China of the other model. When you sum up the findings from all these models, those exonerating explanations cancel out until the only explanation left-and therefore, the correct explanation-is that they lied. This is the idea behind circumstantial evidence. But, again, since we only have access to one model (the lights one), here, no one should be convinced that China is lying about the GDP based on it alone... this is where we examine other, non-statistical evidence in light (haha) of that model.
"When you sum up the findings from all these models, those exonerating explanations cancel out until the only explanation left-and therefore, the correct explanation-is that they lied."
Title: *"Can We Trust China ..."*
Me, answering before I've fully read the whole thing: *"No."*
Excellent video. Gives Americans a lot of hope. 😂😂😅😅
US growth 1.1%. Dont hope for much. 😂
not only america
hope of what US is gonna have a second great depression in 2025. You guys are screwed
@@marcos-ll2yrthey’ve been saying that forever, stop the fearmongering.
@@marcos-ll2yrS economy is the #1 largest on earth by far
Never. They lie, they have done that since the organizations inception and they continue to do it all the time.
然后谎言说着说着就成为世界第二
There's nothing miraculous about a population boom driving a country into the middle income trap, it's just more impressive and efficient at this scale.
China uses to be a country which overcomes the traps,
it is why most great continental empires fall definitely, but China keeps rising and reunited again and again after each collapse,
@@Emilechen China is an unstable country doesn't hold together for long.
@@Emilechen and chinas cycle of collapse, rise, collapse, rise etc is partly due to its political system.
@@Emilechen If I mention Tianenmen Square 1989, does the Great Firewall block you from seeing or responding?
@@Emilechen china is still in the middle income trap. when they are like japan; stagnant, but with high domestic consumption and high tech exports, then we will say they have overcome it.
It's probably understated.
This was an impressive presentation, which discussed complex economic issues in terms readily understandable by general viewers. Warmest compliments. :)
Money & Macro addressed this same topic about a year ago I think. The conclusion they drew was that China's economy may be 60% smaller than reported.
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100s of global economists, analysts from banks, Funds, investment banks, IMF, WB, insurance companies, think tanks etc spend all their time to go over Chinese data using a fine comb. He is using an ad hoc quote out of context from almost 10 years ago from the ex-premier.
Ikr? This is just stupid.
"Don't trust any statiscs yourself didn't falsified." GDP in general doesn't matter that much if you are looking for company profits, individual wealth or in general if a economy is healthy.
The brightness study has some flaws. For example, Paris has a higher GDP than Shanghai, yet Shanghai is brighter. Another factor is real estate, given how much of the Chinese economy is real estate and how many people own 2nd or 3rd homes, those houses don’t actually get used much, the ghost cities being the most extreme example, so a trillion dollars could be generated by real estate and not register much light. Granted the construction is shoddy, yet it’s technically valid Gdp, perfect for a local administrator to sign off as their growth targets and pass up.
In the past few decades, China has urbanized and built many high-rise buildings. People move to tall buildings, which block out the light. Those formulas don't work
China has just been demolishing ghost cities to then build more ghost cities strictly to increase GDP…it is not a good practice. Real Estate is 1/3 China’s GDP so this build, demolish, repeat will continue as long as the individual Chinese keep getting scammed by their local & national government.
The first ghost city is in shanghai, granted not all of them turn good just like no1 can guarantee you your investment.
那我想知道为什么美国不是140个国家最大贸易国？ 难道中国和全世界对美国撒谎？
Geez you should stop talking about China and actually read something first. You sound like the typical internet China-basher who keeps repeating the same cliché over and over again cuz “oh oh I get it cuz I saw something about something in China somewhere on the internet”.
“China economy is mostly real estate” 🙄
“Ghost cities this and ghost cities that”
Up to this point anyone who mentioned stuffs like this are certified idiots who apparently do not have the ability to learn things on its own and take internet bullshits about China for granted. With a bit “imagination” sure I assume things have played out perfectly with each knowledge gaps filled with nothing but assumptions
"Can we trust China's GDP data?"
Let me answer your question with another question:
"Does the publicly-released GDP data from the Soviet Union match with the true economic data estimated later after the fall of the Iron Curtain?"
Both questions have the same answer.
China exported 994000 vehicles in the first quarter, surpassing Japan as the world's largest automobile exporter for the first time, which is a milestone event. Of course, these car export figures are all fake numbers made by various countries in cooperation with China, and China will continue to collapse🤭
You don’t understand Soviet, nor China.
@@NeMayful and English as a Second Language has not helped you either, Charlie Chan..... as we say, Bot and Sold!
@@brianjones7660 Well.. if this is the only point you see 🤷♂️🤷🤷♀️
Go to any store in any country and see where items are made, then ask yourself if you think they're lying.
Kind reminder: not even the former premier trusts these numbers
it's simplifying. What happens is China counts gdp twice, once by regional gov, and once by the central gov. usually it's consistent, The premier was pointing to the regional counting.
WOW SIR VERY DANGEROUS !😠😠 BUT THIS IS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER DO SCAM AND WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
Keep in mind that this video only talks about the bad ways to boost your GDP, but there also a thousand good ways out there that the Chinese government actively on. If you don't like to hear them does not mean that they don't exist.
@TLDR News Global You mention Li Keqiang, the former premier, but show a visual of Li Qiang, who is the current premier. I understand that the names are similar but it's a silly mistake.
Whenever the Chinese economy comes up, it needs to be pointed out that China did not eliminate poverty (in spite of what they claim). Former premier Li Keqiang stated in 2020 that over 600 million Chinese citizens lived on less than 1000 yuan a month ($154 at the time or $5.13 per day). According to the World Bank, China is a upper middle-income country (if the Chinese government's GDP numbers can be believed towards the upper end of the bracket, depending on how much they lie about their GDP somewhere in the bracket). The poverty thresholds for upper middle-income countries according to the World Bank are between $5.50 and $6.85 a day. The Chinese government uses the 2011 threshold for poverty in the poorest of poor countries ($1.90 a day) as a threshold for themselves, whereas between $5.50 and $6.85 per day would be appropriate according to the World Bank. So, in the most generous scenario around 45% of China's population still lives in poverty, in less generous scenarios the value exceeds 50%.
why 415 votes passed unanimously US House Representatives lts China as a developed country
The World Bank uses purchasing power parity as a criterion. . . You don't even know this? ?
I remember Li Keqiang stated that in all CITIZENS, which includes elderly people, children, disabled, saying their income is less than 1000 per month. Although their are still a lot poor people, but I think you should notice this. For those who have a job, this isn't the case.
Damn even governments are setting standards to high for themselves, I never thought I would relate to a government
Only the Chinese government. The legitimacy of Western governments does not depend on economic performance, nor does it depend on social security, crime rates, etc. In the west, they are problem for the people, not the government.
I like this news format
I saw a video in the last day where China had uncountable numbers of empty shipping containers just sitting at their docks, not moving for days upon days. Doesn’t sound like they’re exporting anywhere near what they are saying. Good thing I’m not Chinese or they would have had my head over saying that.
It could be that or it could be they overbuilt containers and now have too much. Without credible data concerning the quantity sold (ajusted for inflation) we can't really know for sure.
Yup at their 3 biggest shipping yards
Rather reminiscent of the Russian official and train yard manager who "increased" the amount of freight they had moving through their region by having one special train whose only function was to pick up rail cars, and shunt them through the area to be counted. After passing through the rail yard, they would go to a siding, move the rail cars around, add or remove some, then run the train back through the rail yard.
Or like the example in Britain where a railroad manager congratulated his staff on their efficient movement of freight through the town at night, never realizing that his staff had been chasing a load of rail cars that broke loose from the locomotive all night (cars rolled down the hill, through the town, up the other side, and kept repeating the process).
@@nicholasconder4703 they did that with their tanks they had parade and they kept changing the number on tank to seem like they had more than what they really had. I see why China and Russia got married
@@JeRefuseDeBienPrononcerBaleine That's the point, though. China is claiming they have seen a 14% increase in exports this year compared to 2019. If that were true, they wouldn't have any empty containers.
1:34 that's not Li Keqiang, but Li Qiang.
Keqiang: pretty stand up guy
Qiang: not so much
You referenced China’s Premier, Li Keqiang… who is the FORMER Premier 😂… but showed an image of the NEW Premier… Li Qiang…Maybe all those Chinese names sound the same to you… but it’s pretty important to get the names right …
not an economist or statistician but worked in the US and China tech sector for about 10 years each, my personal experience is that US productivity is over-estimated while China productivity is under-estimated. the so called "lighting" index can be simplified explained, Chinese people live in very dense city apartments and more conscious of turning off the lights to save money
chinese data is definitely NOT understated, their local officials will make sure it doesnt happen
“Input” as GDP means they make it up beforehand and figure out how to lie about how they achieved it later.
GDP is a measurement communist used to measure its economic output. The more useless products you make with no customers the higher the GDP. The soviets were so good at making unwanted things they had warehouses full of products of poor quality that nobody bought. They just kept making them .
Good video, but I think you used the wrong units on the local government debt graph. Local government debt is more like 35 TRILLION yuan (~$5 T) , not 35 billion.
Can you trust someone who doesn't have freedom of expression?
No, probably not.
And even if the data is "good", it might be skewd by underlying factors that paint an entirely different picture.
I'm not so sure, I asked someone who lived in North Korea what it was like and they said "I can't complain"
As a Chinese, I must say:
I like u, buddy.
Blinding for anything about China.
China is autocratic, poor and collapsing.🤣🤣
Weapons of Mass Destruction my ass. USA cant be trusted either.
Can you trust people that don't have the freedom to say that a male is a male and a female is a female?
No. Probably not.
The year on year consumption growth is just a return to normal after there extended covid measures and it not growth when viewed 9ver a 4 year period. Also there banking sector is in the edge with mortgage defaults. Don't be take. I'm by tl Dr's attitude, they can't be blamed tho, to be impartial requires real evidence and its hard to get that level of proof when dealing with china
Of course Not!
@elfrjzhat’s india have to do with this? Your comment has xenophobic undertones. Disgusting
@Zaydan Alfariz they do have bollywood
China is lying about their national data?? No way :0
I wonder if the “brightness of light” metric corrects for consumption driven vs production driven economies.
Put it this way, china is being economical with the truth where lying is the norm
Lying about GDP is not the norm and in democratic nations most have independent organizations that also calculate GDP so if they did want to lie it would be obvious.
@@matthewshields Lying about the GDP is the norm for china not anyone else. The house/building industry has collapsed and keeps defaulting on it's debt repayments. The yuan is worthless. Companies have left china in there thousands and moved to Asia. china in not exporting any product at all. People, companies and countries have stopped investing in china. Unemployment is running into hundreds of millions of unemployed people. Belt and road is putting other countries into uncontrollable debt and costing china billions. Corruption is off the scale as is embezzlement and theft especially by the ccp. So what bit of the rise in GDP is china not lying about ? The fifth world country is bankrupt, broke, done for.
@Jack Smith lol you looked up my comment history to go back and to reply on my posts. I hope broken English Chinese propaganda is working for you.
Then again, transparency is one of the main reasons.
Trusting China gdp measurement is like listning to Russia regarding the war in Ukraine
You have mistaken Li Qiang with Li Keqiang.
China's GDP numbers are ACCURATE in the sense that even if officials are somewhat overstating the numbers, the Chinese underground economy never gets reported. So overall, the understating and the overstating cancel each other out, and the official figures reflect very closely reality. In my opinion, the understating numbers are bigger than the overstating ones. In other words, if the official figures are overstated by half a percentage point, say from 4% to 4.5%, and the never reported underground economy, which in my opinion is at least worth 1% of the official number, then the actual economic growth is 5% [4.5% reported, minus 0.5% overstated, plus 1% never reported] = 4.5 -0.5 +1 = 5% actual growth.
Every country has underground economy. India has it too , we call it secondary money, every city has it is own unofficial structure from which financing of businesses takes place. And it is actually well managed by people. Indians are good at moving their money and saving them which doesn’t reach the government or any officals records. I am pretty sure indian have secondary money worth 1/3 of its gdp.
Two thing we know: US counts housework into GDP, India counts Bull Shits into GDP😇
@@Rainbowpandemonium lizard,go away,disgusting
没想到老外这么有趣了。
抛开占世界一半的钢铁产量，最高的汽车销量，世界一半的造船业，最大的奢侈品市场，可能也是最高的汽车出口国，最高的工业份额。
博主讲的对。
Go lick the pooh bear
Can we trust your judgment or your narrative without any bias?
No because everyone has bias but you also shouldn't trust anything the CCP says. Ever.
are you biased?
@@brianjones7660 biased only against the unfair, misguided, twisted n narratives and tactics. First, I don't benefit anything from either side with my views. Maybe we, from the East, can see a more balance situation, not influence by the West or China. We have traveled to both sides of the world before so our understanding is much better than most.
I have seen the degradation of the West, especially the common people and also the rise of the Chinese people. All these happened is because of the government they have. So, my only bias is trying to be real with my postings. It may interest you to know many ordinary persons from the East has been to other countries many times, more than many people from the West. Thus the reality on the ground can be clearly seen by us.
One thing I always ignore when it comes to governments around the world is when they brag about how good the economy is doing and how low unemployment numbers are doing, a lot of governments like to brag about these things, the US and UK are prime examples of that and yet, to the average person, it means nothing.
What really matters is growth from the bottom up that lifts the quality of life for everyone, seriously, in the US and UK over the last decade, they've been going on about how well the economy is doing and yet, a lot of the public feel things are going backwards, not forward, it's all meaningless unless it impacts the people, especially the low and middle classes.
So even if Chain or other countries are lying about it's GDP numbers, it's only fooling its own people and the best way to lift the quality of living is from the bottom up, clearly that isn't going so well in the US or UK, hence a lot of people complaining, don't know if that's the case in China but it wouldn't surprise me.
So you can’t trust the gdp numbers but you can trust the retail numbers.
I really don’t have words for this.
Retail figures are retrieved from companies. GDP numbers are given by the government. The former has less space to lie. The latter has infinite.
@@FirestormX9 wrong. After spending 3 years in Shanghai in my late 20’s in finance the fraud amongst Chinese companies and earnings reports was so rampant it was untradable.
A complete fraud from top to bottom.
I can give you 10 examples off the the top of my head like luckin coffee. Only a few get caught.
You know nothing of fraud Vader. The force is weak with you.
You're spinning it. TLDR did NOT say you can trust the retail numbers, it only says that the retail sales increased. Meaning, to paraphrase, the absolute number may be suspect, but the upward trend is not.
@@forbeginnersandbeyond6089 How exactly do you know? The only data on retail comes from the CCP
@@FirestormX9 That's true in other countries. It's not true in China.
Best thumbnail I've seen by this channel.
short answer - no.
long answer - noooooooooooooooooooooooooo.
Weapons of Mass Destruction my ass. USA cant be trusted either.
GDP is not a good measure of a countrys economy in the first place.
Correction at 1:32: The person shown is Li Qiang, not Li Keqiang.
Li Qiang is the current premier and former party secretary for Shanghai, overseeing the city’s lockdown last year. He is seen as a close alley to Xi. Li Keqiang was the former premier who is now retired.
The Wikileaks document likely came from Li Keqiang. The video just showed the wrong person.
Measuring night lights to measure GDP is just ridiculous, how about measuring oil or energy consumption.
Quite a lot of Westerners don't believe in China, but they keep watching some videos about China, which is very interesting. From "China is about to collapse" in 2000 to "China may collapse" in 2023, a considerable number of people have been accepting such messages, but they did not expect to witness China's growth from the world's top 100 to the world's second.
GDP is meaningless because it doesn't tell about how good a nation is or how the population is living.
GDP per capita is a more reliable indicator.
For example, China's GDP is the second largest, but its GDP per capita is 100th in the world, just
- above Botswana 🇧🇼 and
- below Mauritius 🇲🇺,
Both are African countries.
OK go spend your 50c, Charlie Chan.
And go upstairs and help mom fold your laundry OK?
@@brianjones7660 The funniest thing for you Westerners is that China's GDP is not credible, and China has collapsed, from the last world to the present. But you are getting more and more anxious, and you can only anesthetize yourself by comforting yourself: everything in China is fake. Before 1990, no American or European would feel anxious about this issue. If you don’t believe me, ask your parents, mothers, grandparents. The fact is, whether it is on RUclips or your propaganda machine bbc, cnn, there are more and more reports. I believe you will not pay so much attention to a poor country in Africa. Combined with the fact that all around you are made in China, you can know China You don’t have to believe the data in the communiqué on whether the GDP has increased, but the world’s second largest economy and the world’s largest industrial power make you people who don’t have any dialectical materialism have to report on China frequently and do business with China. Let you question whether GDP is fake, it can comfort your fragile hearts
@@brianjones7660 Yes yes yes we are still very very poor and we are still a third world country. Our country will collapse tomorrow.
@@brianjones7660 GDP per capita....Botswan($7270 87th) Mauritius($11550) China($13721 64th)
@@Tim-turbo-o 你连这种小儿科都对付不了 真是丢中国人的脸
I trust China's "eocnomic figures" as much as I trust their covid-19 numbers 😂
Ditto for Russia.
WOW SIR VERY DANGEROUS !😠😠 BUT THIS IS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER DO SCAM AND WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗
🤮
Honestly I think the video is rather naive on how dishonest china is.
Also ontop of that alot of the infrastructure is so poor it breaks in a couple of years.
You can say everything with blind eyes, but you can approve nothing.
It is amazing to me that there are so many people who still believe that offcial figures and statements coming from autoritarian governments are reliable. As a student of history it is amazing to me how literally every time in history when a claim comes from an autoritarian government it is actually false but people still hold "this time is different" mentality.
@Jack Smith So evidence number 1: during the Lockdowns in 2020 China still had a growth rate of 2.3%. That's absolutely ridiculous! First how can you grow when literally the whole nation was under lockdown? The consumer spending spiked only in the beginning then it went down. So 2020 compared to 2019 was a "better" year for the Chinese economy even tho for several months they were under lockdowns. Yeah I don't buy that.
Evidence number 2: the light emmition from China was lower than before. It is a well known fact that the more developed a country is the more light emmitions it produces.
Evidence number 3: China continue putting major lockdowns in major cities like Shanghai. On top of that the consumer spending in China literally plummeted. Down the line they had and still have a real estate crisis which still decreased economic activities like building and destroyed the savings of the Chinese who invested in the real estate market. That's is after all the only real way the Chinese can invest there money.
So yeah after locking major cities like Shanghai, consumer spending going down as well as real estate crisis the economy still grew? Yeah I wonder how that happened. Or maybe they just lied about it.
China and trust should never be mentioned together.
Short answer: No, we don't must trust in rates from countries that don't share democratic values such as china, vietnåm and rússia
Vietnam? Vietnam follows libertarian values.
@@commemorative He is a smooth brain who doesnt understand economic system like communism and capitalism. And confuses them with democracy and authoritarianism
Lol Vietnam is also governed by a communist party not sure why you included them in that list, could have mentioned Indonesia or Malaysia, also why add Russia...
Democratic values💀💀💀 i would argue that the old stalin era ussr was more democratic
@@commemorative no, Vietnam is the same as China.
Communism with Vietnamese characteristics. 😂
Vietnam is following the footsteps of China .
Vietnam is still poor , So No power. Therefore , They are keeping quiet for now , keeping a low profile .
After 2 decades later , if it succeeds economically , it will start to take over everything just like what China is doing now .
They've got nothing to lose because They already Lost since 1975.
Google is not blocked in Vietnam . True .
But Google Was NOT blocked in China either in the beginning .
CCP eventually became more suppressive after it gained more wealth and power .
That's a Fact .
.
.
Vietnam is following the footsteps of China.
The Vietnamese government is keeping a low profile for now because it doesn't have enough money and power yet .
Video shows a Vietnam blogger leaving his Bangkok home for the last time | Radio Free Asia (RFA)
Duong Van Thai is now in police custody in Vietnam. Sources told RFA that they believe he was abducted from Thailand by Vietnamese agents.
That sounds like a bunch of things that if they pile up will cause a disaster.
1:35 that’s not Li Keqiang. That’s Li Qiang lol.
No one cares
@@blairmarshall544 you cared enough to reply
Night and day, too. Li Keqiang would have been a much better leader for China. Li Qiang, well, he's just another sycophant for Xi. A Xicophant, if you will.
@@JunkieOfJunk you needed someone to tell you. Hopefully in future you will stop boring people
@@blairmarshall544 if some1 cant even guarantee the information in their presentation, how can one trust it, oh wait, idiots can, the narrative of a "China not actually that strong" is a good sell, so no1 care about using wrong data or name, since no 1 care about truth, they just want eat up some good shlt.
Short answer, yes. Long answer, hell yes.
_"Can We Trust China's GDP Data?"_ Oh absolutely. It's at least 2.3 times more trustworthy than Dr. Harold Shipman's oath to _do no harm._
Who
You must feel so good about yourself writings down this comment
ostrich buried in the sand
The stock footage is of another premier, the current one, rather than the former one cited by your reporting, their name is very similar
Let's be fair and ask a similar question. Can we trust the UK's or US's GDP Data?
We basically can, yes. GDP isn't a terribly good indicator of actual quality of life or the "health" of an economy, but as far as the raw GDP numbers go, the ones from the UK or the US should be pretty accurate.
Yes and no. The initial data point is under revision the next quarter.
@@HeadsFullOfEyeballs so why can't we trust China's data?
Lol he’s trying to be funny and ended up embarrassing him self 😂😂😂😂😂😂😂
Are you from Saudi or UAE?
change the name of the channel to "anti china outlet" guys, this is ridiculous
Here's another metric. I work at a start-up tech company that makes SAAS products that sells all over the world. We use a random sampling pricing algorithm that uses the mean GDP per capita to price the products. For instance, the price of our product in Brazil is about 20% less than in Mexico -- and this perfectly correlates to the difference in GDP per capita between the two countries. Our pricing algorithm, for China, approximates the GDP per capita of China as approximately the same as Thailand -- whose GDP per capita is about 40% less than China's. There are many reasons why this shouldn't be taken as a metric to correlate to China's GDP (one important reason is that this is not a representative random sample). In any case, we did find it shocking that the price our product was competitive in China at such a low price.
So your saying that your random sampling was bs😂
@@youarebeingtrolled6954 It's random sampling from the given dataset of customers -- which is inherently distinct from a random sample of the population.
@@posthocprior yeah, GDP per capita doesn't apply to reality, it's just a metric.
GDP is an outmoded metric from the 20th century. It does a poor job of capturing 21st century serviced based economies because GDP largely measures agricultural and manufacturing output. But when your economy is 70% based on services, GDP breaks down as a misleading and inaccurate metric if people use it to measure the size of an economy. For this reason, in the 21st century, professional economists generally rely on inclusive wealth as the more accurate metric because it measures all forms of economic resources: natural, human, etc.
Considering they're having a youth employment problem and many factories are not running at capacity, I'd say they're more likely in a recession or about to be. Apparently, the government is trialing a program to move young people to rural provinces under the guise of an "internship program." But, it will likely keep them there so the employment problem in the cities lessens.
Squeeze the farming community. The central government isn't going to fully fund all those intern programs.
unemployment is a serious problem in China. I am in China.
The ccp will keep trying to fix the problem by lying or cheating a free market system and that is going to make China end up like the ussr did when it fell apart. The more you try to cover it up the bigger the bubble gets and it will burst eventually no matter how hard you try to cover it up.
FYI, huge mistake at 4:39 => it should be 35 TRILLION yuan, not BILLION...
I think that "Free democratic Nations" have a much bigger problem with GDP and economics than "Autocratic Nations" like China. Europe is worldwide seen as "decadent" and in inner struggle (Nuclear Power shutdown, Climate chaots, Industrial shutdown and movement to China etc. etc.). In China a lot of building and development activities are vivid given. But in Europe only stupid discussions and economical stalemate is given for decades now. Furthermore it is said, that the GDP growth in purchasing power is in China even higher than in Europe, where high Inflation anhilitates the nearly zero economical growth. Nowadays Europe is the ill man in the world. And not China.
Errm. Europe and other countries do discuss serious business. They are just in the background and vastly underreported in the news circle. There are plenty of discussions on serious issues all around the world.
This video was about the _accuracy_ of reported GDP figures, not about who has higher GDP growth.
Nice anti western propaganda. But China's economy is built on borrowed money. Soon china will have to pay it all back and collapse because their population shrunk and there's no one to pay back wealth.
Yeah I wonder what are chinese young adults doing at Darien Gap, maybe spreading Confucianism? 🧐
@@iamandy9770058100 I do not understand this. Please explain would this should mean !
I'm not a economist, I'm just a normal chinese living in china, i can tell u, the economy is good, at least now. cus i saw a dozen tour bus when i drove to work yesterday morning, and the upcoming may day holiday, the high speed train tickets was sold out immediately, i am planning a trip to Guangdong this holiday, and hotel price doubled or tripled everywhere, seems like everybody is traveling and having fun.
RUclips is censored in China. If you are in China, your circumventing security laws by using a VPN. You are in danger.
Or your propaganda.
the major reason for the huge price differences in hotels is that the canton fair is starting this week, a ton of foreigners are coming to order supplies.
@@richbaker4544 but im not going to gunagzhou, im going to shantou and Shenzhen
the light measurement thing is actually a really bad way to gauge China in particular. In the Haidian district, China's main high tech sector, its an absolute ghost town after 10pm. Chinese culture strongly encourages people to go home/to bed early, and the 9-9-6 system means that people work all day: therefore they literally can't work at night otherwise they would be working 24 hours a day. So the brightness of lights test would be an especially bad way to gauge China in particular.
Not really because in that case these workers don't contribute to the local economy after working thus reducing the overall economic output. That they can't show that China is weaker economically speaking not that they're different.
What's more likely? That China has a different "light use culture" than the entire rest of the world? Or they exaggerate their GDP figures? Hell, I can't blame them, fake it till you make it right?
It's that way most all of Europe!
@@JeRefuseDeBienPrononcerBaleine thats a flaw argument since nothing suggest if the workers contributing or not is being taking into the fake GDP or not from the beginning.
also even if those worker is doing a work-sleep-work-sleep cycle, they still getting paid, and the usual outcome is they transferring these money back to their home town where their parents and children will use these money that will have effect in GDP. dont tell me you believeing that all chinese workers are slave that earn nothing do you?
Well done. Bold Statements, but stil go for the truth!
Interesting but what would be even more interesting would be to have the same video on the UK GDP and how we can’t trust that data either.
If the numbers are shady to you, then shouldn’t the US government be all relaxed and have nothing to worry about? Instead their claiming of overproduction, overcapacity, national security concerns 😂
A good rule of thumb whenever you get CCP's (or russian) official numbers: If its good news, remove two zeroes from the end of the number, if its bad news, add in two zeroes to the end. This way you automatically get a more accurate number than the official one.
A simpler and non-cheatable metric
In 2006, the United States was the largest trading partner of 127 countries worldwide, compared to 70 for China.
By 2011 it was completely reversed, with China being the largest trading partner of 124 countries, compared to 76 for the United States.
@@Craigsinglee Virtual rent averages more than $2 trillion a year, accounting for nearly 10% of GDP in the United States.
China does not count virtual rents.
The annual income of the US legal profession alone amounts to $1.4 trillion, accounting for 6.7 per cent of GDP.
The business income of China's legal profession reached US $30 billion, accounting for 0.16% of GDP.
@@Craigsinglee Annual cement production in the U.S. is 90 million tons, while China's annual cement production is 2.3 billion tons.
U.S. steel production is 80.5 million tons per year, China's steel production is 1 billion tons per year.
The U.S. produces less than 10% of China's building materials.
Here's the funny thing.
Real estate and construction combined account for 16.36% of U.S. GDP.
China's GDP is 13.42% real estate and construction.
@@miaorenfeng1 sorry, but basically if you take out infrastructure and real estate investment from china GDP, you have -48% GDP anyways, theres no argument about it. US economy is not reliant on both infrastructure and real estate or government investment, that is a fact.
@@Craigsinglee Didn't you see the data I posted?
Real estate and construction account for 13.42% of China's GDP.
China's manufacturing sector accounts for 27.7% of GDP, much higher than real estate and construction.
@@Craigsinglee China is the largest trading partner of 128 of the world's 198 countries.
ruclips.net/video/NUKnKCTZvwA/видео.html
I, Xi, thy Supreme Leader, proclaim that all is perfect in the Middle Kingdom! Zero poverty and lovely levels of provincial debt! Right, state-run media?
"Yes, Your Gloriousness, absolutely! Please promote me!"
If the china gdp is inflated then the actual debt ratio is understated by a lot!
This explains the difficulties to reduce same debt- most likely it is so big that china will default.
So the remedy is to increase M2 which china does.
GPD is a difficult subject. It is almost impossible for an individual or even an institute to get an insight behind the figures. I am from Hong Kong. Hong Kong has been blessed by the economic growth of China. HK has a population of not more than 7million. So, when a person look at the GPD of HK it is good but not alarmingly good. But, for those who really understand HK, they would have the insight knowing HK enterpreneurs employed no less than 30 million work force in Guangdong alone. 5 times its entire population. Same as United States, they have huge investments all over the world. So what does GPD means? It is only a measurement of activity level in that country. Outsiders only knows that local Chinese officials always exagerrated their GPD. I am an insider. I have personally witnessed local Chinese governments under value their GPD.
okey " insider " XD
Is that not GNP you're describing for HK when you talk about HK entrepreneurs' workforce in Guangdong, rather than GDP?
China CCP fakes number so we should believe CCP controlled resident of Hongkong. Sure 🙏🏽
next video: China's economy seems good,but at what cost?
China living in TLDR's mind rent free.😂
yeah, because they only ever make videos about China
1:32 Good effort trying to spell Li Keqiang's name correctly. He's not the current Premier, though. That's Li Qiang, who's been on the job since March 11, 2023. Sorry you got that wrong!
Re: "Can We Trust China's GDP Data"?
The short answer is NO, it's on a par with our own UK data! Lol!
Lol, and here we are in the US with numerous undervalued industries. :p
As does with many others.
@@Essentially_Nobody Re: "Wdym "on par with our own UK data"?
Oh?.....Sorry.I forgot, there still some that believe.................Lol!...Your not a 'Flat Earther' are you? Lol!
UK is not that bad. You can scrutinise that data, and meaningfully challenge it. Same with the US, and anywhere in the EU. It's not like that in China or Russia.
Weapons of Mass Destruction my ass. USA cant be trusted either.
"Trusting communists"
Yeah that's always worked out well, historically speaking
What can go wrong?
The GDP of North Vietnam was a thousand times less than that of the United States, and yet this did not stop them from winning the war in 1975 and driving America out. my personal opinion is that in the economy, in the war, in the personal life of citizens, the value of GDP is unreasonably exaggerated.
You don’t get it . There is diffrence between an actual army or overpowered gorila tactics .
America left in '73. North Vietnam "won" in '75. They did not "drive America out", America left due to domestic politics.
@@tfkia356 that's what all losers say so that they don't poke fingers and laugh at them
@@Catscounteratack the meaning of the existence of armies - destroy enemies of their state. why should it matter whether it is regular forces or guerrilla units?
and if these guerrillas are so overpowered, it only shows the ineptitude of the army. and why, then, was it even necessary for USA start a war against an enemy with whom they do not know how to fight?
Absolutely NO, as suggested by the FACT that 82% of the world does more trade & business with China than anyone, and how China uses much more total energy & shipping than every other country, by far.
Most China's debts is backed by tangible infrastructure projects, not by financial bubbles. Its import/export data correlated with its GDP growth. If you count by PPP, the real purchasing power, China's PPP already passed the US PPP. Which means a large portion of the US GDP comes from intangible asset, many of which are financial bubbles.
Not even close. PPP dosen't matter internationally and the tangible infrastructure you talk off cannot be used as collateral or even be considered of passable quality.
Furthermore to bounce off of the statement above, have you seen where those infrastructure projects in China go? Companies building cut-rate apartments that lie empty, just to collapse under their own weight and creating a bubble that has people refusing to pay mortgages on the unfinished projects. People’s life savings sunk into these projects that are built using the cheapest materials and are only built to raise enough money to build more and cover other costs, rather than serving a need or a reasonable purpose.
China is built on bubbles. It's Banking and Real Estate sectors are literally built on lies.
>Assets tied to real tangible property
Ah you mean UNFINISHED Tofu dredge projects?
yeah cope more.
Nice try wumao. Back across the firewall you go.
I've seen videos of how tangible Chinese infrastructure is. I'll take my bubbles over your tofu dregs any day
Great video!
You got to look at the lights of the world because of all the belt and road projects.