2y ago

Biden told Xi after Putin meeting: Be careful, your economy depends on Western investment

www.reuters.com Biden warned China's Xi on West's investment after Putin meeting

U.S. President Joe Biden told Chinese President Xi Jinping following his meeting with Russia's Vladimir Putin to "be careful" because Beijing relies on Western investment.

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2y ago

Biden warned China's Xi on West's investment after Putin meeting

www.reuters.com /world/biden-told-xi-after-putin-meeting-be-careful-your-economy-depends-western-2023-07-08/

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2y ago

Biden warned China's Xi on West's investment after Putin meeting

www.reuters.com /world/biden-told-xi-after-putin-meeting-be-careful-your-economy-depends-western-2023-07-08/

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77 comments

Xi to Biden: “Be careful, your citizens’ purchasing power relies on us exploiting our poor rural population”
- Hasn't that actually changing, with Western corporations turning to Vietnam and its neighbors due to wages rising in China?
  
  That is true, but it is a very slow process that will take many years
  
  Escorts our of south was Asia were over 70% from China a few years ago and we're only 50% from China last year. These numbers are from my memory so probably not exact but close enough.
  Decoupling/derisking is happening quickly with all major players moving to a china +1 policy for manufacturing.
  
  You like South Asian escorts too?
  
  And who owns factories in Vietnam? China, lol. China is investing heavily in poor countries all over the world.
  
  .
- There’s always more poor counties to exploit. There’s only so many rich ones to sell to.
  
  c/aboringdystopia comment/post.
- Hopefully they're not run by autocoratic dinosaurs that dream about restoring an ancient empire for ego reasons while oppressing and lying to billions of people.
  
  If the former Vice President of the Philippines were the President, the economy would be attractive.
  
  Historically industrialisation led to wealth long term. Maybe we're in too nice of a position to judge those who strive for a better life in a globalised world.
  
  Yeah me too I'm German.
- I've avoided buying anything made in China and items made in South Korea and Taiwan are just as cheap and of a better quality.
  
  The components in those Taiwanese and South Korean products come from China. You can't avoid the world's second largest economy in a globalized world.
  
  TSMC Is literally in Taiwan, Samsung is in Korea, and both make there own chips. What are you talking about?
  
  Where do you think TSMC buys the concrete for their facilities comes from? The copper wiring? What about the rare earth minerals that are used in the production process to make chips? Where do they source their steel from? There are thousands and thousands of components that go into building the capital that makes chips, or just into making the buildings that make up their facilities, or even just the materials for the dormitories for their workers. There is inevitably a ton of Chinese products being used at different points in the TSMC supply chain. The most advanced components are from the US, Europe, and Japan, but numerous other components will be made in China.
  
  My money isn't going to China and no South Korea and Taiwan don't use Chinese products, ever. China is both their moral enemy.
  
  I lived in Taiwan for over 5 years, most people use Chinese products every day. China is their largest trade partner.
  
  About 22% of Taiwan’s imports last year came from mainland China and Hong Kong, versus 10% from the U.S. That doesn't quite match up with most people use Chinese products every day. Current relations with China are so bad that most of that trade has dried up.
  
  Listen, I literally lived there for years, I have family there, and I visit all the time. People buy and use Chinese goods every day. Xiaomi smart phones and gadgets are super popular. Chinese phone brands like realme and oppo outcompete local brands. People buy Chinese groceries all the time, especially flavorings and hot sauces. People import Chinese books, watch Tencent TV, and listen to Chinese music. They speak the same language so of course people will buy goods and media content from China.
  Even though virtually everyone hates the Chinese government, most people still interact with Chinese people, media, or goods on a daily basis. And this isn't even getting into business supply chains; Taiwan's dirty secret is that most Taiwanese businesses are very pro-China, even though your average person is worried about China having too much influence.
  
  Perhaps in the past but that isn't how it is anymore.
  
  I do miss the /r/avoidchineseproducts sub for purchase recommendations.

77 comments