Chinese Economist Dismantles Economic Myth

[energyalt56]

Mr Xie's view is narrow and out of touch of today global economists consecensous to China's growth.

The title is a propoganda? IMF report that China's GDP already reach 11.3 trillion, in 2016 China will surpass the USA at 14.7 tn, i would say, in 2012 to 13, China will pass

Remember, Chinese non bank saving is 3 times more then bank deposit

IMF and NY economic forum report China's GDP is 2040 estimate to a shocking 123 trillion or near double compare to 87 trillion today

[imjsutthatguy]

@energyalt56 I agree and even the IMF stated that 2016 date was a "Conservative" estimate. 2013 I would say unless that houseing bubble actually pops but its not gonna be the achilles heel that people think it would be I would call it more a flat tire that would just push the date back a year or 2.

[TheDualEconomist]

@imjsutthatguy Only according to purchaser's power parity which absolutely NO indicator of economic power. Especially since it is inversely beneficial to poorer countries with low wages. Once China's wages increase, which has already started and will accelerate due to labor shortages due to demographic, China's purchaser's power parity will decrease faster than they can grow.

[imjsutthatguy]

@TheDualEconomist I agree in someparts that PPP is advantgeous to poorer countries but I dont believe it doesnt show the growth the nation is undertaking. Even nominal values are raising significantly I believe china has passed 6 trillion. I also dont believe the economy will slow at all even. As wages rise so will the middle class along with it creating an even larger market for their products.Just last month they posted losses in exports but a jump in imports. I hate this500lettershit

[TheDualEconomist]

@imjsutthatguy Ahhh, I see. You are clearly a foreigner. China appears to be prosperous and growing to you, as to pretty much all foreigners. Meanwile,China's top internal economists are predicting a huge collapse. Andy Xie, in the videos to the right, predicts a very large recession for China in 2012. Larry Lang, Professor of Economics at the most prestigious school in Shangai, states that China will soon collapse and become one of the poorest nations.

[imjsutthatguy]

@TheDualEconomist A foreigner to China Yes But I live in Vietnam, Japan and America. I am not as optomistic as you think but I prefer to make my own conclusions I have watched the negative reports and the positive ones. But the thing is they have been predicting collapse of the Chinese economy for 30 years only time can tell not an economist. I watched a report from a chinese economist stating 7 to 8% growth rate yet China surpassed that mark again this year.

[TheDualEconomist]

@imjsutthatguy 2nd post: There are even more economists. In fact, as Michael Pettis points out in one of his NPR interviews, Chinese economist are most bearish on their own economy. He gives the example of a speech he was giving in which an economist that followed him said, and I quote, "Michael is a brilliant economist, but he is American, and therefore, hopelessly optimistic."

You see, in America/EU/West, our problems are sensationalized and everywhere we look.

[TheDualEconomist]

@imjsutthatguy 3rd post: Whereas, in the China, as Larry Lang points out, everyone is panicking but no one can say anything publically. I suggest you Google Larry Lang so you can see what this means. Not only is he a top economist, but he has been described as being the "Larry King" of China because of his well-respected career as a TV personality.

He sacrificed all of that so that he could tell China of the real situation. Clearly, something is wrong in China.

[imjsutthatguy]

I will check him out but you also must remmebr jsut becasue they are predictng a collapse in the west does not mean its gonna happen and they have been sure of that for the last few years. But either way im gonna check him out i like to hear all points on the situation.so i can make a better judgmenton what to do with my investments. i was actually thinking of buying yuan currency but we'll see.

[blapgatify]

Austrian economists have been predicting these kinds of crisis's consistently before everyone else for over a hundred years. Mr Xie most certainly was not the first to predict this crisis.

[wintermute3d]

"GDP numbers are for reference only" - Li Keqiang, future vice president (WikiLeaks)

[lthp]

Love this guy

[stealthpakfa]

andy xie is a terrorist.