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Joined 2 years ago
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Cake day: May 10th, 2022

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  • This article is highly biased and misleading imo.

    First of all, it doesn’t make sense to compare economic policy performance by a single metric, be it inflation or GDP or anything else, let alone if you compare economies in different periods.

    For example, the high inflation during president Carter’s term was mainly due to the oil crisis in the 1970s. President Biden started his term in 2020 - right when the pandemic broke out and subsequent interruptions of global supply chain caused a soaring inflation. You may or may not agree with both presidents’ economic policies, but you can’t obviously blame Carter or Biden for the oil crises and the pandemic, respectively.

    The articles also says:

    Neither the Fed nor economists in general view housing prices as inflation. The economic illiterates do not count asset prices in general as inflation.

    The ‘economic illiterates’ use inflation to measure prices of consumer goods and services but explicitly not to measure prices of assets. This is why rent can reasonably be part of such an index, but house prices probably not (exactly because a house is an asset and not a consumer good). This is also one reason why you should always look at a dashboard of metrics and interpret them to the individual circumstances (e.g., in different epoches, cultures, etc.) rather than looking at just one measurement.

    So the inflation and the way how it is measured (there are multiple ways to do so) is certainly an imperfect metric, but this is true for any metric. And comparing the economic policies over several decades by just using a single metric doesn’t make any sense.

    (Edit typo.)






  • Yeah, his name is Abdulaziz Alwasil.

    Human Rights Watch says about women’s rights in Saudi Arabia:

    The Personal Status Law [in Saudi Arabia] requires women to obtain a male guardian’s permission to marry, codifying the country’s longstanding practice. Married women are required to obey their husbands in a “reasonable manner.” The law further states that neither spouse may abstain from sexual relations or cohabitation without the other spouse’s consent, implying a marital right to intercourse.

    While a husband can unilaterally divorce his wife, a woman can only petition a court to dissolve their marriage contract on limited grounds and must “establish [the] harm” that makes the continuation of marriage “impossible” within those grounds. The law does not specify what constitutes “harm” or what evidence can be submitted to support a case, leaving judges wide discretion in the law’s interpretation and enforcement to maintain the status quo.

    Fathers remain the default guardians of their children, limiting a mother’s ability to participate fully in decisions related to her child’s social and financial well-being. A mother may not act as her child’s guardian unless a court appoints her, and she will otherwise have limited authority to make decisions for her child’s well-being, even in cases where the parents do not live together and judicial authorities decide that the child should live with the mother.



  • A style guide is a general guidance regarding grammar, style, common journalistic practice. This refers to a single topic, and it is clearly biased towards the Israeli government’s view.

    For example (and as the article reads), the memo instructs

    to steer clear of the term “refugee camps” to describe areas of Gaza historically settled by displaced Palestinians expelled from other parts of Palestine during previous Israeli–Arab war …

    but the very same areas

    are recognized by the United Nations as refugee camps and house hundreds of thousands of registered refugees.

    Can’t they cite the UN now?

    I’m sorry, but this is a first step towards the principle of free journalism and towards autocratic systems. That’s not good practice imo.


  • @TanyaJLaird@beehaw.org

    One more recent investigation by Rhomberg Group refers to China’s overcapacity and calling it ‘structural’, saying that

    One last difference [between Chinese subsidies compared to U.S. and European subsidies] is how much support central and local governments have given failing enterprises with little consideration of profit and efficiency. In addition to generous credit and tax support measures, struggling companies were granted credit forbearances during COVID to help them face liquidity crunches and operational disruptions [while private household received nothing, leaving domestic consumption low]. Government support and prevention of market exit boosted the number of loss-making companies […]. In a crowded environment, with loose budget constraints, firms lowered prices and accepted razor-thin margins to retain market share. Perversely, it also pushed them to build additional capacity in hopes of offsetting lower margins with higher volumes, and because they knew from prior episodes that if authorities ultimately forced a market consolidation, survival would be determined based on scale, not financial health.

    […]

    Chinese firms are still using overseas markets to make up for lower prices, margins, or even losses on the China market. But this China-world price discrepancy also means that Chinese firms could lower their export prices further in the future to gain market access, weed out competitors, or make up for new tariff barriers in the EU or the US.

    Another new study by German researchers in Kiel on Chinese subsidies has been posted by someone here just today on Lemmy.

    According to DiPippo et al. (2022) and recent OECD studies, the industrial subsidies in China are at least three to four times or even up to nine times higher than in the major EU and OECD countries. According to a very conservative estimate, industrial subsidies in China amounted to around EUR 221 billion or 1.73% of Chinese GDP in 2019. According to recent data of 2022, direct government subsidies for some of the dominant Chinese manufacturers of green technology products had also increased significantly - the electric car manufacturer BYD alone received EUR 2.1 billion [in 2022, which is up from just EUR 220 million in 2020].

    We have been observing a massive price war within China’s domestic EV market for some time. Many EV car producer have already filed for bankruptcy or are on tbe bring of collapse. Consequently, many Chinese customers are unable to access after-sales and software maintenance services.



  • The U.S. as well as Europe should definitely shift subsidies away from fossil fuels to renewables, and their industries could technologically keep up with China’s. However, it wouldn’t solve the problem here imo, as China has a structural overcapacity across the whole supply chain.

    In a nutshell, China will do everything to flood the market with ever cheaper products. Its state policy has always been incentivizing lower prices for larger market share, but this policy has reached unprecedented levels (and not just in EV car market, btw.).

    A major reason for this is Beijing’s bias against a ‘social welfare’ state for the benefit of industry subsidies. During the pandemic, the government provided high company subsidies to keep people employed, but no household support (which left and is still leaving domestic consumption low). The federal and local governments provided their subsidies irrespective of firms’ profitability. Knowing that the Chinese state-planned system traditionally rewards the mentioned scale of business over financial health, firms increased their production capacities even more, hoping to compensate lower margins with volume.

    The result is now a massive and increasing overcapacity that can’t be absorbed by the domestic market.

    Sorry for the long post.


  • The major problem here is that China is offering prices below production costs aiming to ruin foreign competition. Once the objective of a monopoly-like market is reached, they can increase the price.

    China’s domestic market has already seen a heavy price war leaving many EV companies in financial troubles (and, consequently, leaving buyers often without the possibilty of software maintenance and other after-sales services).

    Baidu’s brand WM Motor, for example, ran out of liquidity last year, as well as Tencent’s Aiways. Other brands like Levdeo or Singulato filed for bankruptcy if I remember that right.

    [Edit typo.]



  • @Dieguito @PoliticallyIncorrect

    One can easily infer from your comments that you didn’t even click the link. It really helps to read an article before commenting.

    Addition:

    Modern slavery in China

    China’s central role in global production – it is the world’s largest exporter of goods is a cause for concern as exports from China are increasingly at risk of being tainted by state-imposed forced labour. Since 2018, evidence of forced labour of Uyghur and other Turkic and Muslim majority peoples has emerged in the Xinjiang Uyghur Autonomous Region (Uyghur Region). Forced labour imposed by private actors is also reported, in addition to forced marriage and organ trafficking, with vulnerability primarily driven by discriminatory government practices. While China demonstrated some efforts to tackle modern slavery through sustained coordination at the national and regional levels – including by adopting a new national action plan for 2021 to 2030 its overall response is critically undermined by the use of state-imposed forced labour.