Japan’s 2023 GDP growth is estimated at 3.4% Our is estimated at below 3%. The IMF estimates China’s growth rate for the year at 5.4%.
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Perfect. Applies to current western media and social media. Also,
Suffice to say I don’t subscribe to that old man’s bullshit. But unlike people from Singapore, I know enough about his teaching to know he’s been badly misquoted.
There is another ancient Chinese bullshitter who once said “知行合一”. That I actually agree with. If people believe China is great and Chinese stocks are good investments, align your action with your words.
One who agree with a bullshitter, is a bullshitter or a hypocrite? A SFer or an ex-Hong Konger 
Agree with one sentence means agreeing with the bullshitter’s whole teaching?
Anyway, “aligning deeds with one’s thoughts” is a good strategy for life. Try it sometime.
Good article from Magnus
Should not be a surprise to people who have been paying attention, but a good summary nonetheless:
The reality, though, is that systemic problems have over the years become features in China’s $19 trillion economy. The real estate market has tipped over after an almost unbroken 20-year boom, which the government itself encouraged. At about a quarter of GDP, housing now faces years of shrinkage as it adjusts to chronic oversupply and lower household formation. Property developers, local governments and state enterprises have high levels of debt and many face debt service difficulties. The virtual absence of inflation reflects inadequate aggregate demand. Stalled productivity growth, the politicisation of regulation and the business environment, rapid ageing, high youth unemployment and inequality also figure prominently.
It may seem churlish to draw attention to these things in the world’s second-largest economy, centre of global exports, manufacturing and supply chains, and home to brands such as Alibaba, Tencent and TikTok. Yet Japan, 30 years ago, reminds us that it is quite possible to have islands of technological excellence and leadership, and also deep economic imbalances, deflating asset bubbles, over-indebtedness, and institutional weaknesses that compromise growth and prosperity. Technological prowess could not prevent Japan from succumbing to its proverbial lost decades, and there is no reason to think differently about China.
About the much anticipated stimulus:
Those expecting meaningful macroeconomic stimulus and reforms will continue to be disappointed. There will be some tax cuts and fee reductions for businesses and more support for the beleaguered housing market but only to stabilise the economy. Monetary and credit policies will remain “prudent”. There is no suggestion that the government will adopt serious measures to boost consumer demand and household incomes. It is reported to have decided instead to “strengthen economic propaganda and public opinion guidance, and promote a positive narrative of China’s economy”. In other words, cheerleading.
Still comparing China with Japan? Lost decades again?
Half the criticisms of China in that piece apply equally to the US - especially the politicization of regulation. Our demographics don’t look great either. And asset bubbles? Over indebtedness?
If it wasn’t’ explicitly stated it would be impossible to know if the nation described was China or the US.
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Some of them apply to Singapore early in its independence. These type of criticisms are of not much value when they are not unique. Not much point when so many nations have the same issues. You can change the nation, seem to apply too.
If you think so then a good exercise for you is to figure out how come we have hundreds of thousand of Chinese illegal immigrate braving the Darien Gap trying to restart their lives in America, but not the other way around?
Reminds me of all those Hamas fans protesting on streets. They say America is bad, America is evil, but don’t seem to want to move their ass away from America.
All I ask is for China fans to align their actions with their words.
It’s not a question of being a “fan” of one nation or the other.
The problems of the East are the problems of the West as well.
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The direct translation of…
is
but is not the deep meaning of the saying. It means one should use your own judgement and not believe everything you read/hear.
Jeremy bought BABA…
And so should you.
@manch’s logic
John is a Christian.
David is a Christian.
I should be a Christian.
I like her dog.
I like my friend’s dog.
I should have a dog as a pet.
My doctor says Salmon is nutritious.
My friend loves to eat Salmon.
I should eat Salmon too.
Many investors make $$$ from trading crypto.
Jesse makes $$$ from trading crypto.
I should be trading crypto.
Above are examples of bad application of 知行合一.
Nope. A proper analogy goes like this:
A person keeps going on TV touting the benefit of X. X may be some investment, or some vitamin pills. Doesn’t matter. He does that propaganda tirelessly, year in year out. And yet he never takes his own advice and has some of what he’s been promoting.
At some point the (smarter) audience starts having questions. Does this guy really believe in his own words? If he doesn’t, why should we?
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Lousy application too because… a. He may not have the $. b. He may be forbid to do so in his employment contract. c. His medical condition may not be right for those pills.
Then the application of 知行合一 would be to stop promoting the stuff. It’s the only ethical path. Why promote stuff that you yourself don’t consume?