[connorproctor]

The article states a huge spike in imports are causing a traffic jam worse than when the port of LA workers went on strike a few years ago. I went searching for the "why" behind imports spiking and came across this:

>U.S. consumers dramatically increase spending on goods as their ability to spend on services was constrained [by COVID] and that their lost income from unemployment would be counterbalanced by stimulus.

https://www.freightwaves.com/news/data-reveals-unprecedented...

[oceanplexian]

I wonder how many Americans will be spending their stimulus on a new television or a new phone, and how many will be using it for housing and food. Seems like the former, which is great news for the Chinese economy.

[cstejerean]

China’s economy is definitely doing well, about the only major economy that actually grew in 2020 while everyone else shrank. So economically they definitely came out on top from this pandemic.

China is now forecasted to outpace US economy by 2028, 5 years earlier than previous forecasts, due to changes this past year.

https://www.bbc.com/news/world-asia-china-55454146

[underseacables]

As far as you know. News about China and it’s economy must be taken with a grain of salt because it comes from the government which is notoriously unreliable.

[snoshy]

No, as far as the CEBR knows. It's not a Chinese forecast, it's a UK forecast.

[xbmcuser]

China in the last 20-30 years has taken 700+ million people out of poverty so they must have done something right. As someone that is not Chinese nor from a western country apart from filtering news from Chinese media I also filter stuff from the western media as it is not any better. Chinese media is censored and manipulated by threats western media is censored and manipulated by money and self interest.

[ketzo]

To place Chinese state media on the same level of censorship as independent western media seems... disingenuous at best.

[xbmcuser]

Western media being independent is a myth has been for the last 20-30 years specially when it comes to foreign relations. Most of the independent western media is sidelined which results in little or no spread of real news most of it is just propaganda of different political and financial interests. Go thorough this website is shows how much misinfo is spread by corporate media and different countries. But no main stream media picks up the stories or talk about it. https://www.disinfo.eu/

[blackrock]

It looks like you fell for the brainwash.

There is no such thing as independent western media.

Western media censors by omission. And when they report on China, they only report on news that casts China negatively, in order to make the western world appear morally superior.

[gruez]

>China in the last 20-30 years has taken 700+ million people out of poverty so they must have done something right.

Their neighbors (taiwan, japan, korea) were lifted out of poverty even sooner, so I'm not sure whether this is indicative of anything. Your whole analogy reminds me of the how in a bull market it's pretty easy for any trader to make money, even though they might perform worse than an index fund or a monkey and a dartboard.

[refurb]

Why are we talking about “media” here? These are government reports of growth.

If you would put the same trust in economic stats reported by China vs Western gov’ts...well.

[underseacables]

You’ve made this same comment before in other posts and comments about China, but there’s absolutely zero proof to back up your claim. If it comes from Chinese state media, it absolutely cannot be trusted, and since there is no way to independently verify it, we cannot assume that it is correct. Not even in the general direction of being correct.

[pjdemers]

>> China is now forecasted to outpace US economy by 2028

In total size. China's GDP per person won't reach the US until 2060, at the earliest.

[ErikVandeWater]

Do not conflate growth with the quality of an economy.

[AWildC182]

So? Even if bad metrics push the inevitable a few years down the road it's still inevitable. China will become the dominant world power some time in the next decade or so and there's not a whole lot we can do about it.

[markdown]

Biggest economy =/= dominant world power.

[my_usernam3]

What do you believe defines dominant world power?

In my uneducated opinion, theres lots of factors. However, economy/wealth is by and far the largest one, because almost everything else seems to have a price tag.

[fabianhjr]

Nor a GDP statistic with the productive forces of countries.

https://www.wikiwand.com/en/Productive_forces

[rasz]

The decision to lockdown Wuhan internally, while at the same time allow international flights was a spark of brilliance. Why should we suffer alone, lets spread the love!

[0xB31B1B]

LOOOL

“In other predictions the post brexit UK economy will grow at %4/year”

[CaliforniaKarl]

Here are the experiences of three people I know, with pronouns changed to "they" so as to not reveal their preference.

Person #1 is an adjunct instructor in the midwest, and is struggling with the low # of courses and the # high of students in each course, in addition to the additional workload that comes from doing everything online. Their income level is not as high in 2020 as before. They are an artist, and so try to take time (and buy materials) for their art, as they need some form of release.

Person #2 lives on the west coast (not a good part of the west coast), works in retail, doesn't have a car (in an area that requires one), and isn't in the best living situation. They have a full-time job they're doing well in, but it's not a high wage (it's below $15/hour, though more when they gets bonuses), so it's difficult to save up. They're smart, but it's difficult to maintain 150% motivation every. single. minute. of. the. day.

Person #3 lives in the midwest and is unemployed. After being furloughed, they left the food service job they were in: they were transferred to a remote location, likely because they were asking about why health insurance hadn't been resumed. The next job they found was a job selling insurance to businesses, a job that only pays when you make a "sale". Until then, your wages are zero. And it's a workplace that doesn't wear masks. A license to sell insurance is required, but the workplace (who is supposed to facilitate that) didn't lead them through the correct paperwork, so their ability to lean (and to sell) is limited. They are actively looking for a new job, ideally something that matches their degree.

There are three examples of the latter, just from me.

[ahepp]

Buying a TV manufactured in China still stimulates the US economy, doesn't it? It's 2021, supply chains are global for a lot of products.

You could just as easily disparage paying rent by saying "it's great news for my landlord". Personally, I think Chinese industrialists and workers do more to earn the money.

The stimulating effect comes from spending it, no? I'm not worried about what my neighbors are spending the money on. We citizens and dollar-savers pay the bill through taxation/inflation, in a progressive manner. I don't see a moral hazard.

[azurezyq]

For TV, I think there's really not much manufactured in US. Maybe Android TV / roku TV subscriptions?

https://www.politifact.com/factchecks/2016/mar/14/donald-tru...

If you look at it closely, display panels are mostly manufactured in Asia. And a Chinese company (BOE) is the leader in the market:

https://www.statista.com/statistics/1124858/global-display-p....

[ahepp]

I would be shocked if any component of consumer TVs was manufactured or assembled in the US.

But if it was sold in a US store, from a US wholesaler, transported across the US, designed by US engineers, etc, it still seems like it would stimulate the economy.

I was under the impression not much is truly manufactured here in the US any more. What are you going to buy, thousands of dollars worth of My Pillows?

I'm no economist, but my understanding is that paying down debt (universally considered a responsible use of money, as opposed to TV purchasing) is actually one of the least stimulating ways to spend money. You're effectively just hoping that the lender is going to spend the money on something stimulating instead of yourself.

[benjohnson]

The US is in second place behind China for manufacturing output. US manufacturing often goes unnoticed as we tend to produce expensive things - like jet engines, spacecraft, processors, and medical devices.

[baybal2]

And it is also goes usually unnoticed how funny is the accounting of US manufacturing output.

From accounting the whole value of the widget, and not just added value from manufacturing processes if inputs are imported, effectively, already pre-assembled (this is how I believe all "Made in USA" TVs are made.)

Factoring in obscene IP value as a "material" component along with some bs called "goodwill."

The "realisation" of revenue across borders, and so on, and on, and on.

[imtringued]

I think his point is that there are lots of American brands that are produced in China. Maybe not for TVs but for other gadgets. The factory in China gets a pittance while the American company gets most of the profits.

[zz865]

The other stimulus check destination is Tesla stock and BTC.

[CharlesW]

> Seems like the former…

I'm sure some people financially unaffected by the pandemic are using their stimulus for gadgets, but most recipients are using stimulus money for bills, savings and essentials.[1][2][3]

As perspective, only 39% of Americans could pay for an unexpected $1,000 expense.

[1] https://www.nber.org/system/files/working_papers/w27693/w276... [2] https://www.forbes.com/advisor/personal-finance/survey-one-t... [3] https://www.forbes.com/advisor/personal-finance/heres-how-am...

[lostlogin]

Spending money on a phone or tv helps keep people employed in the US too - unless of course consumer spending bypasses brick and mortar and goes AliExpress et al.

[op00to]

on what information do you base this on?

[lambda_obrien]

For most people, the stimulus is just a bonus. Even if 30 percent of people lost jobs, they're the minority. I think the money would have been better used as a weekly stipend for those on unemployment, or those who lost income at least. I certainly don't need the 1800 bucks I got for my family of 3 on new year's, for me it's just money in the bank. I wish it could have gone to someone more needing, so maybe I'll donate it, but it shouldn't have even gone to me, is what I'm saying.

[ahepp]

Since repayment will be a burden borne by the fortunate through taxation and inflation, isn't "checks for everyone" in a sense equivalent to "checks for the needy"? Except we all save the trouble of means testing, or the sting of missing out on a windfall.

[conro1108]

If you wish it had gone to someone more needing, why maybe donate it? Just give it to someone more needing

[CaliforniaKarl]

> maybe I'll donate it

Did you end up doing so?