China's trade surplus surges to record $676.4B in 2021

[Krptonite]

https://twitter.com/x/status/1481851680471728131

Americans are frantically printing money and then going to China to buy. China is just trading goods for a pile of paper.

Credit where credit due mate, this is unprecedented and should be learned and emulated from.

To rise in an economic order controlled by other is worthy of respect and praise.

 

[xuxu1457]

Credit where credit due mate, this is unprecedented and should be learned and emulated from.

To rise in an economic order controlled by other is worthy of respect and praise.

https://twitter.com/x/status/1481851680471728131

trade

 

[Viet]

I think it only takes China to beat China, haha.

Congrats to China
However that will not last forever at least not at high level. Last year was an exception my friend. Many major manufacturing countries were in lockdown for example Vietnam for nearly 3 months. China eating our lunch. Now this year things are different. Vietnam factories will run full speed.

 

[Krptonite]

View attachment 808997

https://twitter.com/x/status/1481851680471728131

trade

Sigh!
Is it that hard to recognise merit if only to emulate it?

Every crisis is an economic opportunity and with its gargantuan production base, China was in the best possible position to realise them. Just being in that position is not enough though, capability is the defining factor.

 

[GiantPanda]

https://twitter.com/x/status/1481851680471728131

Americans are frantically printing money and then going to China to buy. China is just trading goods for a pile of paper.

Most of that pile of paper goes into importing more raw material to expand the industrial base and the next round of exports -- this is how China had industrialized since 1970s

 

[GiantPanda]

Congrats to China
However that will not last forever at least not at high level. Last year was an exception my friend. Many major manufacturing countries were in lockdown for example Vietnam for nearly 3 months. China eating our lunch. Now this year things are different. Vietnam factories will run full speed.

When did Vietnam became a major manufacturing country?

In East Asia, it is China, Japan and South Korea who are manufacturing powers. Vietnam is like Mexico. It is dependent on companies (both international and Chinese) from China setting up there to get around labor costs and the trade war. Those companies also make Vietnam dependent on the flow of parts from China.

That said, Vietnam is doing very well. It is a miniature China in a lot of ways -- communist party, pro-business policies, a highly nationalistic people with East Asian work and education ethics.

 

[Viet]

When did Vietnam became a major manufacturing country?

In East Asia, it is China, Japan and South Korea who are manufacturing powers. Vietnam is like Mexico. It is dependent on companies (both international and Chinese) from China setting up there to get around labor costs and the trade war. Those companies also make Vietnam dependent on the flow of parts from China.

That said, Vietnam is doing very well. It is a miniature China in a lot of ways -- communist party, pro-business policies, a highly nationalistic people with East Asian work and education ethics.

Depending on China is not a problem at all we still use chopsticks invented by the Chinese long time ago. Ha ha.
Seriously, Nike can’t export 130 million shoes last year because lockdown in Vietnam same for thousands of other products. Vietnam exports would be $400 billion not $336 billion. I think we would reach $500 billion next year in exports.

 

[MH.Yang]

Depending on China is not a problem at all we still use chopsticks invented by the Chinese long time ago. Ha ha.
Seriously, Nike can’t export 130 million shoes last year because lockdown in Vietnam same for thousands of other products. Vietnam exports would be $400 billion not $336 billion. I think we would reach $500 billion next year in exports.

The Vietnamese govt is merely copying all the policies of the Chinese govt.
If the Vietnamese knew the color of XiJingPing's underpants, I doubt that Nguyen Phu Trong would buy the same underpants.

 

[Stranagor]

Depending on China is not a problem at all we still use chopsticks invented by the Chinese long time ago. Ha ha.
Seriously, Nike can’t export 130 million shoes last year because lockdown in Vietnam same for thousands of other products. Vietnam exports would be $400 billion not $336 billion. I think we would reach $500 billion next year in exports.

Those textile industries are leaving now more expensive China since 2010 or perhaps earlier. Vietnam's success is grabbing a chunk of them. Which is good, noone would like to see them going to India. Quality would suffer. Vietnam is a much better manufacturing country and is itself going to climb up the ladder.

Congrats to China
However that will not last forever at least not at high level. Last year was an exception my friend. Many major manufacturing countries were in lockdown for example Vietnam for nearly 3 months. China eating our lunch. Now this year things are different. Vietnam factories will run full speed.

Not just that. China also received 178 billion USD FDI. Tops the world. More at play here, such as unmatched logistics and the early harvest of the many BRI routes.Then there is the promise of the RCEP. China is at the very center of it. Not to invest in China, you would need to have an IQ below zero. Or blinded by the passion of hatred.

 

[Shotgunner51]

Americans are frantically printing money and then going to China to buy. China is just trading goods for a pile of paper.

There is nothing new, their printing + debt accumulation has been going on for a long time, 2021 was just another typical year put on steroid. This cycle will repeat next year, and the year after, for as long as the dollar maintaining a high exchange rate, and their net external debt will continue to sink with no end in sight.

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
Current Release: December 30, 2021

U.S. International Investment Position, Third Quarter 2021 | U.S. Bureau of Economic Analysis (BEA)

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets...

www.bea.gov

 

[Norwegian]

There is nothing new, their printing + debt accumulation has been going on for a long time, 2021 was just another typical year put on steroid. This cycle will repeat next year, and the year after, for as long as the dollar maintaining a high exchange rate, and their net external debt will continue to sink with no end in sight.

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
Current Release: December 30, 2021

View attachment 809184

U.S. International Investment Position, Third Quarter 2021 | U.S. Bureau of Economic Analysis (BEA)

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets...

www.bea.gov

So you think this scam can go on for ever? Is world finance a joke then? US printing money non stop for free while rest of the world is forced to fight for it through their hard work (exports)

 

[Shotgunner51]

So you think this scam can go on for ever? Is world finance a joke then?

That's the BIG question my friend, dollar value.

 

[Norwegian]

That's the BIG question my friend, dollar value.

 

[Viet]

There is nothing new, their printing + debt accumulation has been going on for a long time, 2021 was just another typical year put on steroid. This cycle will repeat next year, and the year after, for as long as the dollar maintaining a high exchange rate, and their net external debt will continue to sink with no end in sight.

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
Current Release: December 30, 2021

View attachment 809184

U.S. International Investment Position, Third Quarter 2021 | U.S. Bureau of Economic Analysis (BEA)

The U.S. net international investment position (IIP), the difference between U.S. residents' foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets...

www.bea.gov

You shouldn’t complain but be thankful to America they print money. How they will pay chinese imports otherwise? How will the world look like if there is a shortage of dollars?
Think of consequences. Pay in turkish Lira?
Germany accumulates $300 billion surplus per year I never hear that anyone here complains they getting richer.
If you have too much dollars give it to me.

 

[Shotgunner51]

You shouldn’t complain but be thankful to America they print money. How they will pay chinese imports otherwise? How will the world look like if there is a shortage of dollars?
Think of consequences. Pay in turkish Lira?
Germany accumulates $300 billion surplus per year I never hear that anyone here complains they getting richer.
If you have too much dollars give it to me.

On the exact opposite my friend, instead of complaining I am glad they are printing (and piling debt), the more the better as long as the value holds, so that I can swap that dollar for other assets before it looses value. Yes I do have a lot dollars and very happy to swap with you.