Women From China

"[[Youth|[Y]oung people]] are big spenders, prodigious borrowers... the potential to unleash trillions... into the global economy... [t]hey are... more open-minded and socially conscious... However, ...less suited to Western-style democracy ...[D]eeply layered in the national psyche ...steeped in their ...culture ...traditions, and rooted in their ...communities ...ushering in an era of economic... without political liberalization..."

"But... the next generation of leaders... more educated and fluent with diverse cultures, are... equipped to bridge the gap between... worldviews. ... US education has opened their eyes to... virtues of an open... if not a wholly free society. Their desire to question... challenge... pursue the truth, and to push back against injustice will have important implications..."

"Extended skirmishes, export bans of semiconductors, and s are reinforcing China’s... course... to attain self-reliance."

"[[w:Self-sustainability|[S]elf-sufficiency]] without... global engagement is... dangerous... in a world where prosperity and technological proficiency are... network based and interdependent. When economic interlinkages snap, everyone loses, especially the vulnerable."

"[W]e can... do our best to rise above... sensationalism, stereotypes, and es. Only then can we engage with China in a measured... effective way, critique... and ask good questions. Until we do... we will... get China wrong... when... common purpose has become crucial to addressing... existential threats..."

"[Some] Latin American countries... and Asian economies... experienced rapid growth, but... [never] graduated into... high-income countries. ...[I]t could have been due to corruption, political instability, poor , or inadequate investment in ...This ...is ..."the middle-income trap." Since 1960, only 13 out of 101 middle-income economies... escape[d] it. ...China ...may follow... Japan['s]... lost decade of no growth in the 1990s. If, however, China can keep growing at 5 percent on average, and... the US continues... at... 1.5 percent... the Chinese... will overtake the US... by... 2030. China would not be as rich... for several more decades, but... more than a billion Chinese would enjoy the same living standards... However, ...China will need a new model of growth. ...5 percent ...seems overly optimistic ...275 percent ...debt to GDP ...as of 2022 points to ...painful ... ...And threats of make an export-oriented economy ...fragile."

"[T]here are still... 870 million people with a monthly income below RMB 2000 (...US$300) ...yet to join the four hundred million in the middle-income group ...by Chinese standards ...RMB 2000—5000—far below the advanced-economy average. ...[A]n enlarged middle-income group ...is the only way to truly bolster China’s consumption engine."

"There is... room for convergence. China’s productivity level is... only a fraction of the US... China’s share of labor force with a college degree is... smaller than... in South Africa and Brazil, and way below rich countries."

"Reforming the system... would allow the flow of talent across regions... improve... allocation of labor... [and] reduce regional disparities."

"China has made the... quantum leap... from US$380 to US$10,000... over... four decades. The second... is to go from US$10,000 to US$30,000... [M]uch... speed of China’s achievement can be ascribed to catching up. But unqualified success... will be... when... 1.4 billion... reach... high-income status, particularly... in a political environment... antithetical to... Western conventional wisdom. ...[H]alf of the most prosperous people in the world... living under Communist rule—not... predicted... when the Berlin Wall fell."

"[[Innovation|[I]nnovation]] has... become... one of the highest forms of... glory. And it is [China's] only... hope of becoming the foremost economic power of the twenty-first century."

"[B]ooms and busts is a natural feature of market economies. In the last 40 years China has really never had a bust. ...[B]ust cycles also oust less productive firms and provides exit mechanisms, and that creative destruction... is one of the bright spots... of the situation."

"China's suffering from a severe deficit in demand because of low wage growth, scarring effects of the pandemic and... the real estate. But... because of China's size today, growing at 3% to 4% even, is not a bad thing. If India grows 4 percentage points faster than China from now until 2030, China's still going to contribute $130 trillion dollars of additional GDP more than India... to the world."

"I totally agree with Mr. Zhu's assessment of transitioning to a productivity, innovation driven economy. That's the only way that's going to sustain growth in the long run. So that's a good thing. But... renewables or digitization in the short term... can't possibly displace real estate as a provider for growth and employment in the way that it had in the last 10 years or so. Second, services right now... only accounts for half of GDP and only 48% of employment. That number is 80% in advanced economies, so you can imagine a whole amount of room for also absorbing the youth who are underemployed, highly educated. They account for a more educated skill force than manufacturing. And you also have almost a billion people who haven't really reached middle income by international standards, living under $300 per month. ...So I could go on and on, when even Japan and Korea leveled off their growth, their productivity as a share of... the US was already 80% and China is still very low... a lot of room for convergence. ...[W]e want to separate the cyclical problems of demand from some of the longer term challenges."

"Confidence has to come from somewhere... There are underlying factors that alter confidence and consumption, and... we've seen the scarring effects of the pandemic. Don't forget that Chinese households did not get the support that European and American households got during the pandemic... [M]ore importantly, could be declining, and we don't really know for sure, but it's not climbing, so without that you can't possibly get consumption to be really... enthusiastic. Of course, there's real estate and the stock market. ...Retail investors account for the majority of turnover for Chinese A shares and... that has also been performing problematically. And... youth unemployment is a challenge, but is it coming from a cyclical feature which is a demand deficit, in which case policies could potentially work, but... As we'll hear from Mr. Zhu, there are also constraints... There's a on s... the key implementers of economic drivers of growth, but now they are suffering from mountainous debt burdens. So these are some of the... short-term challenges."

"Coming back to the trade challenges... We're seeing in the data that trade is simply being re-routed... from countries like Vietnam and Mexico, but... the ultimate demand and suppliers for that is... still the U.S. and China. It's... taking a longer route... that's going to increase trade cost, and... some Chinese companies... have also set up factories in Mexico and... Vietnam to... circumvent some of these... trade barriers, but it still has to come ultimately from countries like the U.S. and China."

"In so many ways China is in transition, and... requires a bit of patience, whether it's real estate, or debt, or ..."

"At the core... the U.S. China competition is about the China... development model, Chinese aspirations and most of all, Chinese technology, or technological competition. ...[I]t's as bad as it is because of a lack of mutual trust and very different world vision, values and culture, which I think we underappreciate."

"President Xi recently said, We hope that America would be prosperous, and hope that the U.S. would wish China to be more prosperous as well. I think that does send a message, but I do think that the two countries are recalibrating the relationship, learning from what has happened. I don't... think there's a set, specific idea of how it's going to look..."

"[R]ecalibration comes from two important things... First... is that internal challenges for both countries, China for sure on the economic... political... military... A lot of the focus is now inward. Chinese don't think about Americans all day long. ...Second, there's a huge unintended consequence of these technological restrictions... We've seen it in history... that whenever there are restrictions or... walls, it accelerates technological development. So what we have seen in China recently is a national mobilization. Unlikely partners from the big techs, working together. Universities, industries, governments, all trying to tackle the hard and impossible... [T]hat's... accelerated some of the endeavors to leap frog... [W]e're going to see much more of that, because of these restrictions, not despite them."

"Before, they were comfortably importing chips. ...Of course Chinese companies would love to import chips. Now they have to turn to domestic substitution, and that's accelerating... making domestic chip companies much more profitable... in many, many different areas."

"[I]t's leaky. You cannot really restrict technology flows... [Y]ou're basically enriching the intermediaries. ...There are a lot of third [party] countries where we're seeing a huge surge in imports of chips. I wonder what happened there."

"Collaborative competition is the way we should define the relationship. ...U.S. and Japan had similar... economic... technology competition, and... everybody was better off because Japan pushed the U.S. to do much more. Lots of these... important innovation pushes were because of Japanese competition."

"The two biggest themes this year, AI and sustainability: one represents competition between the two; the second represents collaboration. There's no way we're going to get to green transition without the collaboration... So my advice would be first... start from small victories to build trust... and recalibrate and readjust to real time circumstances."

"After reading Jake Sullivan's reviving national American economy, it sounds... like the China model with industrial policies, subsidies and a huge national boost... The China model is about having a unique coordination between government and markets... individualism and communalism..."

"I have not experienced another incident in person, but I get messages on social media every day that include racist language and bullying. I think the best thing we can do is provide facts. The fact is the virus does not discriminate against any group of people, and Asian Americans are not more likely to spread it. It’s also important to report on hate crimes, assaults, and attacks against members of the APA community so they are not normalized."

"I can’t imagine what the adjustment was like for my parents settling down in a completely foreign land without an Asian community to offer support. They are braver than I could ever be. We had a small Chinese restaurant — one of two in the town. So there was one other Chinese American family, but they didn’t have kids my age. I was the only Chinese American student in my school system. I definitely had to deal with challenges and racism throughout my upbringing, but I wouldn’t change anything because those experiences shaped who I am today. There was also a lot of kindness in our little town. I spent lots of time with my friends and their welcoming families."

"I think the entire time, because even though you learn how to adapt, and you become part of different friend groups and the community in some ways, just being so different from everyone else, I always felt that. And I mean, I'm not going to sugarcoat it. There were definitely times in my life throughout my childhood and growing up in West Virginia, where the other kids made sure that I felt different, and told me to go back to where I came from, and asked me if I could see because my eyes were so small. And I think that stems from a lack of education about different cultures. And also kids can be racist and bullies. And unfortunately, that's true no matter where you are in the world."

"As a journalist, you have to always have your purpose, and the reason why you are doing what you do, in your mind at all times. And so I'm constantly thinking about the fact that we're in a deadly pandemic, and people need answers, they need the truth about what the administration is doing. So that's what I really focused on and tried to allow that to drive me and not allow the distractions to get in the way."

"This city is a completely female city. Female town. Beijing is male. All rough and politics. Shanghai is more delicate. Money talks. Beautiful. I had enough rough. I need details. Specially because (I am) a lady. I need city."

"As for “Grass Mud Horse”, I applaud the one who invented such a pun. Its underlining tone is: I know you do not allow me to say certain things. See, I am completely cooperative, right? Of course I think it inappropriate to utter these obscene words. I need not to demean myself below some level because of you. Even if you force me to say those words, I won’t comply. I want to keep my decency and dignity. Even if you retreat to a barbarian level, I am going to keep my identity as a civilized person. You gonna tell me I can’t do that? So, I say “Grass Mud Horse”, not fxxx your mom. What is “Grass Mud Horse”? It always works hard in harsh conditions. See, it is from the vast grassland. I like it. I love it. This whole thing is too far away from you, out of your jurisdiction. Oh well, why are you always staring at me? Am I not perfectly fine? I am innocent. I have not been snatched away by some crooked folks. I have not been put under their control. And I am not vulgar. Why do you have to worry so much about me? I am singing a cute children’s song – I AM A GRASS MUD HORSE! Even though it is heard by the entire world, you can’t say I’ve broken the law."

"这样的人才是我们民族的脊梁，是我们民族的盐和钙质，是我们民族道德重建的基石、社会重建的出发点。将这样的人加以囚禁，等于直接囚禁我们民族的良心！"