Chinese Economy : Updates and Discussions

randomradio said:
China's exchange rate is managed, so it's not that relevant. Govt income and job growth are more important. The problem with China is education is expensive and there's no universal healthcare. So people can't afford having families or falling sick, even if they have jobs.

Russia's military expenditure is not a lot for wartime, just 30% of govt expenditure. If they stop growing it beyond 10-12T rubles, then normal growth will reduce it to below 25% by 2030. And they don't have much govt debt, just 16%. They also have social security, free education and universal healthcare. So they are working with a different set of rules compared to China.
Click to expand...
Although I am not very familiar with Russian society. But many men in China marry women in Russia. And post videos on social media to introduce the lives of the two countries. Overall, Russia gives me a feeling. Except for Moscow and St. Petersburg. The healthcare system in the vast majority of regions is poorly constructed. The social welfare system is also not sufficient. China has a well-established public healthcare and education system. Compared to other countries, the expenditure on healthcare and education is not high. People just hope their children receive better education and frequently hire private tutors. Even in all rural areas. If you are willing to pay a fee of $20 per year. You can also reimburse 80% of the medication, hospitalization, and surgical expenses.
 
randomradio said:
Russia's military expenditure is not a lot for wartime, just 30% of govt expenditure. If they stop growing it beyond 10-12T rubles, then normal growth will reduce it to below 25% by 2030. And they don't have much govt debt, just 16%. They also have social security, free education and universal healthcare. So they are working with a different set of rules compared to China
Click to expand...
I don't know why you have such an optimistic attitude towards Russia's economy. The data I can see is that military spending has accounted for 37.5% of its fiscal expenditure. More expenses should be spent to support the military industry. And as the main source of finance for the Russian Federation, energy exports. A decrease of 48%. If the war continues. So Russia will eventually collapse.
 
LX1111 said:
Although I am not very familiar with Russian society. But many men in China marry women in Russia. And post videos on social media to introduce the lives of the two countries. Overall, Russia gives me a feeling. Except for Moscow and St. Petersburg. The healthcare system in the vast majority of regions is poorly constructed. The social welfare system is also not sufficient. China has a well-established public healthcare and education system. Compared to other countries, the expenditure on healthcare and education is not high. People just hope their children receive better education and frequently hire private tutors. Even in all rural areas. If you are willing to pay a fee of $20 per year. You can also reimburse 80% of the medication, hospitalization, and surgical expenses.
Click to expand...

Low quality and corruption are problems in their healthcare, but the problem for Russia is they are compared to developed countries. But yeah, most of it is centered around big cities.
 
LX1111 said:
I don't know why you have such an optimistic attitude towards Russia's economy. The data I can see is that military spending has accounted for 37.5% of its fiscal expenditure. More expenses should be spent to support the military industry. And as the main source of finance for the Russian Federation, energy exports.
Click to expand...

Their revenue and expenditure have been rising drastically since 2014.

chart.png


They are the only country to have increased the national defense budget and social security at the same time. A doubling of the govt budget in just 5 years.

2023:
Russia's federal budget expenditure in 2023 will total 32.2 trillion roubles ($351.45 billion), Finance Minister Anton Siluanov told reporters on Wednesday.

The figure is almost 11% - or 3.1 trillion roubles - higher than the initially approved total expenditure for this year of 29.06 trillion roubles.

Their 2023 figure is 32.2T.

2024:
www.pbs.org

Putin signs Russia's largest national budget, bolstering military spending in 2024

Speaker Vyacheslav Volodin says the budget was developed specifically to fund the military and mitigate the impact of international sanctions imposed after Russia sent troops into Ukraine in February 2022.
www.pbs.org www.pbs.org
The budget foresees spending in 2024 of 36.6 trillion rubles ($415 billion) with an expected deficit of 1.595 trillion rubles ($9.5 billion).

36.6T rub for 2024.

This is unlikely to keep going, but their overall budget has increased way too much. By my calculations, the Russian defense budget is twice that of the US budget, and their modernization budget is at least three times bigger.

If they stop their budget at 10-11T, then once their expenditure crosses 40T, it would only be 25% of their expenditure.

LX1111 said:
A decrease of 48%. If the war continues. So Russia will eventually collapse.
Click to expand...

The opposite. A weaker ruble has only made their export earnings stronger, so the govt has more money to spend in rubles.

Don't convert it to USD, it will give you the wrong impression. You made the same argument about the Chinese GDP.
 
You must log in or register to reply here.
Top Bottom