26 thoughts on “Economic Policy Making Agencies in China

    1. Macroduck

      That is Truss was elected Tory leader, so PM, by 81,326 votes. Out of 47,558,400 registered voters (2020).

    2. Steven Kopits

      That’s the way parliamentary democracy works, guy. The PM is chosen by the party, not by the public. The public gets to choose the party. It’s SOP for this kind of democracy.

      1. pgl

        This chaos is working for you? Damn – your standards suck. The conservatives keep putting up trash prime ministers but they do not have to go back to the voters at all. But I guess you are too busy trying to create chaos in China to have noticed.

        1. Steven Kopits

          Yes, that is the way parliamentary democracies typically work. The party picks its leadership, ie, the PM. I appreciate that this is again above your pay grade, but yes, that’s the way it is.

          1. Moses Herzog

            I’m curious what your thoughts were on President Biden promising to purchase more oil from the oil multinationals for the U.S. strategic reserve when the price falls to $70??

          2. Barkley Rosser

            Steven,

            Actually, the Brits screwed up, or at least the Tories, not sure the other parties do this, but the Tories only recently took it out of the hands of the MPs and put it in the hands of party members in the nation. Ack! So the Tory MPs wanted Sunak, but their national members gave them Truss. Ack!

          3. pgl

            Pay grade? I do not get paid for ranting about things you do not understand. That’s your game troll. Now go read Alice in Wonderland for once in your pathetic little life.

          4. Steven Kopits

            Moses –

            The SPR is running about 120 mb below normal, so down by about 1/3. Refilling at mid-$70s seems reasonable, but do we get there?

            Here’s the pro forma supply outlook:
            OPEC: -0.5 to -1.0 mbpd from November on quota cuts of 2 mbpd (not all quotas are fully used)
            Russia: -2 mbpd from December to March per EIA outlook on oil sanctions
            SPR: Reduction of draws to zero after the election, implying a reduction of cc 1 mbpd of supply

            Add them together, and supply falls by 3-4 mbpd from late Q4 / early Q1. Figure +$10 / barrel for every 1 mbpd reduction in supply. Oil is likely to be expensive barring a stiff recession.

          5. Steven Kopits

            Okay, Barkley. Point taken. But in parliamentary systems, ordinarily the voters at large do not choose the PM. The party chooses, whether the MPs or, in this case, party members.

          6. pgl

            Steven Kopits
            October 22, 2022 at 11:26 am
            The difference is that my reading did not stop at Alice in Wonderland.

            Seriously dude – you were the moron who never got what going down the Rabbit Hole was about. Now tell you mommy the next time she reads you Green Eggs and Ham that she finishes the whole book.

  1. ltr

    Just as Democratic Party is the proper title, rather than “Democrat” Party, which is incorrect and generally used disparagingly, so the correct title is the Communist Party of China or CPC. ¬†Goldman Sachs executives, who wish a successful company presence in China, should know or need quickly learn that CPC is respectful and proper.

    1. baffling

      well let me thank our local ccp spokesperson for alerting us to the proper and respectful notation. now please continue with your regularly scheduled local ccp propaganda.

    2. Barkley Rosser

      ltr,

      Um, I actually agree with this, although the “CCP” usage is widely and deeply entrenched. Probably not worth making toooo much effort trying to change it.

  2. Macroduck

    Off topic, tech sector performance –

    PC shipments down y/y for 4th straight quarter, with cautious business spending getting the blame:

    https://www.theregister.com/2022/10/11/pc_shipments_fall_at_fastest/

    The tech outlook is generally pretty bleak right now:

    https://www.theregister.com/2022/10/17/tsmc_downgraded_chip_downcycle/

    Which is improving the availability of microchips:

    https://www.theregister.com/2022/10/19/the_great_semiconductor_drought_may/

    Good for the inflation outlook, for bad reason.

    1. Anonymous

      something to watch: cutting china off from usa intellectual property.

      my son said that almost all china tech is “knock off” ie appropriated from usa products.

      the impact on china’s domestic high tech and exports?

          1. pgl

            Steven Kopits
            October 22, 2022 at 11:26 am
            You asked.

            Seriously dude – I asked to mock your worthless rear end. I guess you never got how to converse in basic English.

  3. Moses Herzog

    NYT mentioned that Sun Chunlan has now been “appointed”(designated??) China’s “zero-Covid” czar. She is a stern looking woman, who if we were only to go by external appearances seems to meet the “dragonlady” stereotype. For the record Victor Shih at UCSD gives her high marks for leadership–even if Sun Chunlan was operating in a Democratic context. Maybe China’s version of Madeleine Albright?? (My guessed analogy, not Shih’s).

    Related to Sun Chunlan’s designation as the “zero-Covid” czar~~ Hanzhang Liu of Pitzer college said: “Women most of the time get pushed to the front line when male politicians don’t want to deal with a crisis”.

    It’s interesting to note Sun Chunlan first really began to build her power base and political patronage when she was party secretary of the city of Dalian.
    https://www.nytimes.com/2022/10/19/business/china-women-communist-party.html

  4. Moses Herzog

    https://www.wsj.com/video/series/on-the-news/watch-chinas-ex-leader-hu-jintao-escorted-out-of-party-congress/4E5E6F99-5264-42F0-8BD4-2A9F3862D480?mod=automatedsubsection_trending_now_video_pos2

    There are so much inter-wranglings going on behind the scenes in China I think people (both Chinese and foreigners) would be shocked (seriously shocked) how these things “work themselves out”. Often, I do not think it’s uncommon for a Chinese politicians to lose their power, almost overnight, when opposing parties or parties with coinciding goals work to “bounce them out” of the power structure. I think this happens all the time in fact. The INFORMAL power structure is in fact higher grade than the formal power structure as it is the INFORMAL power which drives the formal power, or “tail wagging the dog” “sort of thing”. This video of Hu Jintao, really very closely getting what is called a “perp walk” out of the “festivities”. was a rare rare rare rare “peak behind the scenes”. I think those who know China, will find the video of Hu Jintao being escorted out of the Party Congress, something similar to the older couple scene near the beginning of the film “Midsommar”. It is very surreal, and kind of “otherworldly” shocking.

    This was an intentional exhibition of power by Xi Jinping to anyone who is remaining who opposes him, the not much veiled subtext: “Hu Jintao is a former adversary of mine…… watch me flick him off like a dangling booger on my nose. Anyone else who challenges me, will also be carted off the stage of power”.

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