Xi is "President for life" until he's not. Xi is president contingent on his trade policies bringing in cash to support SOEnterprises,and using the money to pay for "1 belt 1 road ' infrastructure.
China has it's own oligarchs however- not just SOEs- and they ain't happy.
There is political pressure on Xi to perform,and also I'm betting he will sign a trade agreement-
and they have made purchases as well as dropping the requirement for joint venture IP theft
As I argued in my book, The End of the Asian Century, decades of sweeping problems under the rug have caught up with China. From a labor shortage (thanks to the One Child Policy), which drives up labor costs, to malinvestment and crony capitalism, along with horrific environmental damage, China’s vaunted economic model was unsustainable in the long run. The extraordinary growth that China underwent from the 1980s onward was real, and yet in starting from such a low base, extraordinary growth was possible if even modest economic reforms were implemented.
Today, the reform program has all but stalled, and Chinese President Xi Jinping’s tenure will likely be known for its big promises and few accomplishments. That’s one reason why he has placed such a big emphasis on the Made in China 2025 program, to make China the world’s leader in high-tech development and manufacturing, and on the Belt and Road Initiative, to open up new markets. Yet, just like Japan in the 1980s, his grandiose plans are unlikely to achieve their aim. Not only is the Chinese economy still dependent on capturing (read: stealing) foreign intellectual property, the role of state-owned enterprises is growing in crucial sectors (even if absolute numbers have been reduced thanks to consolidation and privatization). Moreover, the lack of confidence in China’s future has spread downward from the elite (most of whom have foreign passports and send their money and children abroad) to middle-class Chinese, who are trying to protect their money by purchasing real estate abroad.
Hey! Thanks for asking a very good question!
First of all, wipe that defeatist look off of your face, OK? We are talking about America and American workers.
It was just 4 years ago that the average worker in China, was only 33 cents an hour. But just a few years later, China is now sporting a 65% increase in average wage earnings and is at $3.40 cents an hour. Whooptitity do! Right?
So, forget the wage difference, because we are not in competition with China regarding who can keep wages the lowest. We do not want to win that game or even try to play in that kind of a wage war with China.
In fact, we should be increasing our wages here in America, instead of trying to lower them to Chinese standards!
America, for almost the last 75 years, has been the leader in the world for technology and education. These two things go together! You will never have one without the other.
America has taken it's eye off of the ball, and now Japan is leading the world in technology. We are sitting at 2nd Chair. And China is now sitting in the 5th chair, just after South Korea and Germany. But, let me tell you, no one country has moved up the scale of technology as fast and as far as China has in the last decade.
China is gaining in technology the fastest, and is now leading in many areas of technology in the world. Let's just take robotic technology for one example. China is now leading the rest of the world in robotics- which actually replaces labor- once it's up and working.
While China has been educating and graduating engineers with math and engineering degrees at little to no cost to the student, here in America, we are still trying to keep more people out of college than helping them acquire educations. We make education a lifestyle choice for the rich and famous only, by actually competing to see which university can charge the most for their prestigeous degrees. And, we are doing nothing to encourage students to acquire math and engineering degrees.
America has instead created the world's most gainfully employed working force for those in the Medical, Health Insurance, Pharmacuedical fields that are only costing the consumers of those products and services to become almost unaffordable for most Americans.
We actually have a glut with people with medical careers. We also have a glut on legal, law, and police careers. We have a glut with political science careers. We have a glut with financial, mortgage, banking, and Wall Street and Real Estate careers.
Where we fall short is math and engineering degrees, and that is why we are losing our lead on Technology- and that is why we are losing the economic wars in the world.
And let me tell you, a trade war will never resolve our trade problems in the world. That is just going to isolate us even more in the world and make everything we need to cost more.
No Sir! The only way to fix our shortcomings in the world is go back to being the innovative technology leaders in the world.
We have to compete by using good old American innovative technology and Yankee ingenuity like we once had- not competing with low wages in China.
Last edited by Adolf_Twitler; 01-22-2019 at 01:07 PM.
"I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man."
— Joe Biden on Obama.
Socialism is just the modern word for monarchy.
D.C. has become a Guild System with an hierarchy and line of accession much like the Royal Court or priestly classes.
Private citizens are perfectly able of doing a better job without "apprenticing".
"I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man."
— Joe Biden on Obama.
Socialism is just the modern word for monarchy.
D.C. has become a Guild System with an hierarchy and line of accession much like the Royal Court or priestly classes.
Private citizens are perfectly able of doing a better job without "apprenticing".
they steal it.China is gaining in technology the fastest, and is now leading in many areas of technology in the world. Let's just take robotic technology for one example. China is now leading the rest of the world in robotics- which actually replaces labor- once it's up and working.
bullshit. noone can be "isolated".And let me tell you, a trade war will never resolve our trade problems in the world. That is just going to isolate us even more in the world and make everything we need to cost more.
what the trade talks need to do is level the playing field by eliminating Chinese trtad barriers to out exports
( forced joint venture/tariffs/ no real local court system)
The current talks are wipespread over many issues -including IPR theft
we still are -although China is also stealing our R&D as well, not just finished technologyNo Sir! The only way to fix our shortcomings in the world is go back to being the innovative technology leaders in the world.
I could care less about the cost of tea in China!
I worry about the cost of things here in America.
If you truly want to be competitive in the world, you create an offense that can't be stopped, and you have to maintain the lead.
Try to lead, and not have to rely on playing catch up, or your defense, or penalties to win for you!
when was the last Chinese "president for life?"
He's already walked back "made in China 2025" ( but they do it anyways) and are using a lot of central bank stimulus for a soft landing.
I would never predict what their Politburo will do - but it's at least becoming possible
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