Yeah, I think one of the biggest misconceptions people have about china's economy today is that they aren't nearly as dependent on exports as people think. On an absolute number net exports look big, but as % of GDP, countries like Germany or SK nearly log like more dependent.
The much more critical thing for China is domestic consumption, which is where they focus the most and struggle the most. And a big thing there that has made other developed countries mad is that China's net imports haven't nearly kept up with their consumption growth. China has been meeting consumption domestically, which changes their mix, and makes everyone else understandably frustrated.
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All you said might be true 5 years ago. But many no longer holds.
China is no longer an export dependent economy, and moving manufacturing away from it, is hard.
The belief that manufacturing is about labor is simply false.
Dalio is pretty smart to smell the trend, maybe just because he is less idealogical driven but data-driven.
Yeah, I think one of the biggest misconceptions people have about china's economy today is that they aren't nearly as dependent on exports as people think. On an absolute number net exports look big, but as % of GDP, countries like Germany or SK nearly log like more dependent.
The much more critical thing for China is domestic consumption, which is where they focus the most and struggle the most. And a big thing there that has made other developed countries mad is that China's net imports haven't nearly kept up with their consumption growth. China has been meeting consumption domestically, which changes their mix, and makes everyone else understandably frustrated.