EPTThe Chinese Economy - Page 7
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gplayer
Romania106 Posts
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Azera
3800 Posts
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Attican
Denmark531 Posts
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Shady Sands
United States4021 Posts
http://www.qstheory.cn/zxdk/2012/201218/201209/t20120912_181094.htm SOEs are integral to holistically developing China's economy and increasing Chinese competitiveness vis-a-vis other countries. Even though a few SOEs are monopolies, their overall efficiency remains high. [...] Precisely because of this, Western countries want to wreck our nation's SOEs. In recent years, many overseas expansion plans of Chinese SOEs have been hampered by Western political forces and special interest groups. As such, we must clearly understand--the purpose of reform is to eliminate our weaknesses while protecting our strengths; reforming monopolies cannot entail losing the strengths of Chinese state capitalist system. 国企在带动多种所有制经济共同发展、共同提高国际竞争力上，发挥了突出的作用。即使一些垄断行业的国企，效率也很高 [...] 正因为如此，西方国家要刻意打压我国的国企。近年来屡屡发生的国企海外投资受挫，背后都有西方政治势力和利益集团的干预。对此，我们应该有清醒的认识。改革是为了兴利除弊，推进垄断行业改革绝不是要改掉我们的固有优势。 The article also brings up PetroChina as an example of a "good SOE", "defeating foreign oil companies" and "securing economic resources for China abroad." | ||
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Azera
3800 Posts
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Funnytoss
Taiwan1471 Posts
On September 19 2012 17:06 Azera wrote: My dear friend SS, do you recommend any books that explains the Chinese economy in the manner that you do, or rather speaks of the same things as you did but more in depth? The Search for Modern China is a pretty good read. Obviously, as it's a book, it's not written in as nearly as casual or "cool" fashion, but it's still very interesting regardless. I'm sure SS has some other great recommendations. | ||
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Shady Sands
United States4021 Posts
On September 19 2012 18:19 Funnytoss wrote: The Search for Modern China is a pretty good read. Obviously, as it's a book, it's not written in as nearly as casual or "cool" fashion, but it's still very interesting regardless. I'm sure SS has some other great recommendations. The Chinese economy is a pretty vast topic; to understand it, it's good to have a general grasp of economics, then a solid grasp of developmental economics within the larger field of economics, and then a great grasp of Chinese politics, history, and culture on top of that--and finally time spent with people who've been inside the "China game". Start with a few key concepts: The point of economics is to get/make more stuff that people can use/enjoy Skip Smith (unless your professor requires you to read it) and just remember property rights and a free (or at least dynamic) market increases labor specialization/capital investment which increases productivity Skip Marx (unless assigned by professor) and just remember that the value of the labor/capital you put into something and the value of the utility you derive from something are often completely different and this differential is the root of all economic gains or losses Basically just remember that to be productive, a country has to increase the amount of labor (via specialization) and capital (via investment); but to be rich and enjoy a high standard of living, a country has to not waste its labor and capital on useless stuff; and that a country usually learns to become productive before it learns to become rich Then get technical and learn the math/conceptual endoskeleton (you'll need basic calc for these but since you're singaporean this probably isn't an issue): Basic microeconomics books: start with Varian, keep reading others if interested Basic macroeconomics books: start with Barro, keep reading others if interested Basic game theory: not the math, but at least understand how a Nash equilibrium functions on a conceptual level After you finish those 3 then go for Basic macroecon/finance papers: start with Diamond-Dybvig, don't read any further until you learn financial accounting and the banking laws/policies of whatever country you want to live in Basic governance papers: Acemoglu (for seeing how and why politicians react the way they do towards economic numbers) Then pick up on specific topics in micro/macro: Keynes Friedman/Hayek Lucas critique of Keynes Krugman's books on New Trade Theory (stay away from his later stuff as it's mostly ideological BS... read this instead--it's the shit that won him the nobel) Skip any of that other BS on developmental economics since other than E. Asia, Japan, and Germany no region has gone from poor/agricultural to mid-income/manufacturing or rich/developed, and other than Krugman's works on NTT no one else has properly explained how E Asia, Japan, and Germany went from poor to rich ---- Then go for China books: Start with history, since it's the easiest to read: Zizhi Tongjian -- easy to read historical primer on monodynastic China (e.g. what China is like when ruled by a single group of people) If you have time, read these (or at least the cliff notes): Shi Ji by Sima Qian Zhan Guo Ce -- basically the Romance of the Three Kingdoms with less embellishment and more detail on the political machinations (If you'd like to date a Chinese girl, read Dream of the Red Chamber while you're at it) Then go modern: The Party by James MacGregor is kind of a kook book but a good introduction. Then go for Factions and Finance by Victor Shih Read any books you can about the Great Leap Forward--preferably books with reliable numbers tho they're rare. Then read books about Chinese development from 1978-1988 (plenty of books abt 78-88 with numbers). Useful for a compare/contrast of fail/win economic policy on essentially the same poor, rural provincial population. Finally, read the three books by Brandt, Bransetter, and Allen on China's economic reform ---- All of the above should take you 2-3 years of off and on reading. Next, start reaching out to people who are intelligent about the subject but removed enough from "the game" to give you an unbiased view. Ideal candidates are professors with tenure or scholars close to retirement, since they'll be old enough to take a long view and also far enough from promotions to give you a relatively unclouded answer to any questions you have. Retired officials are also a great source of wisdom. | ||
TheEmulator
28098 Posts
 I will have to read some of those books. | ||
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Shady Sands
United States4021 Posts
http://guaguabostatement.tumblr.com/ | ||
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Xiahou
Singapore80 Posts
On September 30 2012 23:53 Shady Sands wrote: Bo the Younger publishes a statement on his father: http://guaguabostatement.tumblr.com/ Hey, just wanna ask, how difficult will it be for me to gain a rudimentary understanding (enough to make sense of the underlying complexities of the Chinese economy) with a really poor Maths background? I'm only doing Maths at a H1 level for my A levels, so I can't nearly make any sense of game theory and all that complicated stuff. | ||
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Shady Sands
United States4021 Posts
On October 01 2012 00:41 Xiahou wrote: Hey, just wanna ask, how difficult will it be for me to gain a rudimentary understanding (enough to make sense of the underlying complexities of the Chinese economy) with a really poor Maths background? I'm only doing Maths at a H1 level for my A levels, so I can't nearly make any sense of game theory and all that complicated stuff. Not very. Most of the conceptual stuff will be easy to grasp--how good are you at integrating abstract concepts? | ||
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Xiahou
Singapore80 Posts
On October 01 2012 02:35 Shady Sands wrote: Not very. Most of the conceptual stuff will be easy to grasp--how good are you at integrating abstract concepts? Pretty good I think. I've never had to delve too deeply into economics before but my aptitude ands interest has always favored the humanities over sciences. | ||
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Shady Sands
United States4021 Posts
On October 01 2012 08:08 Xiahou wrote: Pretty good I think. I've never had to delve too deeply into economics before but my aptitude ands interest has always favored the humanities over sciences. Then you'll do pretty fine. Most math in Econ is highly intuitive anyhow. Start reading Varian and let me know if you run into problems | ||
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Kalingingsong
Canada633 Posts
Statement from Bo GuaGua: Personally, it is hard for me to believe the allegations that were announced against my father, because they contradict everything I have come to know about him throughout my life. Although the policies my father enacted are open to debate, the father I know is upright in his beliefs and devoted to duty. He has always taught me to be my own person and to have concern for causes greater than ourselves. I have tried to follow his advice. At this point, I expect the legal process to follow its normal course, and I will await the result. What kind of person who is "upright in his beliefs and devoted to duty" names their son "GuaGua"?? He probably doesn't even care if other kids make fun of his son's name, jesus christ lol. | ||
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Shady Sands
United States4021 Posts
On October 01 2012 08:44 Kalingingsong wrote: What kind of person who is "upright in his beliefs and devoted to duty" names their son "GuaGua"?? jesus christ. lol Can't speak for naming conventions. I've always thought Chinese post-1949 naming conventions were a little illogical... my own family's included. An aside: I've met Bo Guagua before, and he struck me as a pretty chill guy. Unfortunately, those close to him (not me) don't describe him as the most analytical or discerning of his peers. The two Chinese phrases they use would be “善" closely followed by "没心眼"... I'll leave it to the other Chinese people in this thread to translate that. | ||
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RavenLoud
Canada1100 Posts
My Chinese is terribad so correct me on that one. | ||
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Shady Sands
United States4021 Posts
On October 03 2012 15:30 RavenLoud wrote: err so he's compassionate, but not wise? My Chinese is terribad so correct me on that one. something like that. basically he's too nice to play "the game", but unfortunately he was pretty much born into it | ||
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Azera
3800 Posts
Thanks for the reply btw, ss. Is that how you became a wizard? | ||
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Temerarious Trout
174 Posts
http://www.theonion.com/articles/romney-delivers-stern-warning-to-china-speaking-di,30053/ Simplified: 中国的领导，我毫不含糊地向你们肯定，当我做了总统，我一定会确保中国遵守国际贸易规则。你们国家长久以来用操纵汇率让你们自己的制造业受益，打击我们美国的制造业。这是不公平的！我的政府不会接受中国这样的行为。当我进白宫的第一天，我就会把中国列入‘汇率操纵国。’这是对你们的警告。 English: Leaders of China, I want to make it perfectly clear to you that when I am President, I will definitely ensure that China abides by international trade regulations. For a long time, your country has used exchange rate manipulation for the benefit of your manufacturing industry and to the detriment of our American manufacturing industry. This is not fair! My government will not accept this type of Chinese behavior. From the first day I enter the White House, I will list China as an "exchange rate manipulator." This is your warning. | ||
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Otolia
France5805 Posts
China doesn't want to be a democracy, they just want to stand at the top of the world and look down on the rest of the world (just like Korea), nationalistic feelings will grow in China simultaneously to the building of democracy because they need a democracy to be accepted by the western world. What will happen after that ? Who knows ? Hopefully by the time China is a the top, Europa will have decentralized and distributed its power enough in a political entity so that we don't have to suffer from its economical position. On the other hand, I only predict hard times for Africa. They might be happy now with China investing there but it will be no better than colonization in a few decades. | ||
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