A Big Difference Between the US and China

[What Would Jesus Do?]

Again and again we see corporations here screw up or screw people over - and the top corporate officials go untouched, while the corporations rarely pay more than a trivial fine, and keep doing whatever they were doing.

In China the top figures appear to be much more likely to be investigated, shamed, jailed, and even executed.

Not to say we want to become China. But sometimes....

http://www.cnn.com/2015/08/18/asia/china-tianjin-blasts/index.html

 

[TexMichFan]

Another big difference is the minimum wage.

 

[22*43*51]

I'm still confused as to why you think there is a difference between Corporations and Government.

Obama illustrated very succinctly today in his Shell/Arctic decision, that there is not.

But, keep shaking your fist at one side only.

 

[BABiscuit]

Biggest difference is our huge American penises.

 

[aflachawk]

Biggest difference is our huge American penises.

That is damn funny

 

[Bob Pelini_]

China is a winner, we got Obama thus we are losers.

 

[Titus Andronicus]

China is a winner, ...

The most recent news out of China is a 10% devaluation of the currency.

That is not exactly a sign of winning. It means that their economy is losing momentum/ground when measured against the economies of their trading partners.

 

[What Would Jesus Do?]

The most recent news out of China is a 10% devaluation of the currency.

That is not exactly a sign of winning. It means that their economy is losing momentum/ground when measured against the economies of their trading partners.

Yeah, except their idea of losing momentum is slipping down to a 6% growth rate. We'd kill for that. Heck, we're killing for a third of that.

I saw an op-ed recently where they were bitching that the soon-to-be-thrust-upon-us TPP contains no restraints on currency manipulation. Not sure what sort of restraints they were thinking of, but it's an interesting issue. They mentioned that the Korean agreement (said to be the template for the TPP) has no such restraints and S.Korea has been able to maneuver its currency to generate large job shifts from us to them.

 

[naturalmwa]

That is damn funny

Like it!

Like the Huge American Penis.

I dare you.

 

[uniFIGHTuniFIGHT]

Yeah, except their idea of losing momentum is slipping down to a 6% growth rate. We'd kill for that. Heck, we're killing for a third of that.

I saw an op-ed recently where they were bitching that the soon-to-be-thrust-upon-us TPP contains no restraints on currency manipulation. Not sure what sort of restraints they were thinking of, but it's an interesting issue. They mentioned that the Korean agreement (said to be the template for the TPP) has no such restraints and S.Korea has been able to maneuver its currency to generate large job shifts from us to them.

I'm no economist and I'm about to ask a stupid question. Is that growth rate measured in USD (or another global standard)?

 

[What Would Jesus Do?]

I'm no economist and I'm about to ask a stupid question. Is that growth rate measured in USD (or another global standard)?

It's a percentage, so it can be expressed in any currency. Or did I misunderstand your question?

 

[uniFIGHTuniFIGHT]

It's a percentage, so it can be expressed in any currency. Or did I misunderstand your question?

I didn't ask my question well enough . I'm assuming that's either GNP or GDP growth. I don't know how those are measured (in terms of currency) and reported (in terms of politics and currency) and I don't know how those reports account for changes in currency markets. Titus is saying that China's inflation is currently more severe than its competitors on the global currency market. If that's true, it'd be interesting to know if that plays a role in reported/estimated growth.

 

[unIowa]

Biggest difference is our huge American penises.

damit, i was going to say, height, weight, and penis size. You beat me to it.

 

[Titus Andronicus]

I didn't ask my question well enough . I'm assuming that's either GNP or GDP growth. I don't know how those are measured (in terms of currency) and reported (in terms of politics and currency) and I don't know how those reports account for changes in currency markets. Titus is saying that China's inflation is currently more severe than its competitors on the global currency market. If that's true, it'd be interesting to know if that plays a role in reported/estimated growth.

There are definitely some issues relating to how the growth numbers are calculated. Here is an excerpt from the WSJ (Mark Magnier on July 21st) that provides some perspective:

.....................................................

Economists have frequently questioned the methodology underpinning Chinese statistics, given discrepancies between regional and national growth figures, data collection shortfalls and, at times, a lack of transparency. Several economists have constructed alternate measures of growth based on freight rates, electricity output and other data. Citibank said recently that it believes China’s actual growth rate could be closer to 5%.

After the data release, Conference Board economist Andrew Polk said the 7% second-quarter growth figure raises questions about how the official data was assembled at a time when the broader economy faces multiple headwinds. “Clearly the headline number has become more divorced from at least the underlying numbers they’ve given us and at worst from reality,” Mr. Polk said.

In recent weeks, there had been some signs that the economy was starting to stabilize. Property prices in China’s largest cities are rising after an extended slump. Industrial production edged up recently. And new bank loans were up significantly in June, adding capital for companies’ expansion.

But global demand remains weak, and broad areas of the world’s second-largest economy had largely failed to respond to four interest-rate cuts and several adjustments in reserves that banks are required to hold since late last year.

“Across the board, things are weak,” Mr. Jackson said.

......................................................

In any case, if your currency is going down faster than your economy is going up, you are having issues.