[somenameforme]

Chinese nominal consumption rates are low because prices remain low in China, far lower than PPP accounts for. Being able to buy a new EV for < $10k there is not some outlier, but a component of their overall economy where a single dollar goes way further than pretty much anywhere in the world. They're the largest economy in the world now and have a cost of living less than half the global median. They are very much like the US was in the 50s-60s, in a variety of different ways.

Beyond this, you have to keep in mind that overly simplified explanations for their successes fail to a very simple sniff test. If you could achieve what China is achieving with e.g. subsidization then every single country in the world would be doing exactly that, not the least of which being the US. Most Western economies are drowning in debt with GDPs being increasingly farcically propped up by government spending, yet we have, relative to China, less than nothing to show for it. We get all the negative consequences, but none of the benefits, at least not for the common man.

[ShinyLeftPad]

> Chinese nominal consumption rates are low because prices remain low in China

Personally been to countries with higher consumption than China and lower prices, so nope.

> If you could achieve what China is achieving

If you mean "heading towards an economic catastrophe" then sure. Suppressing domestic consumption is catching up with them.

Are you seriously pointing at western country government spending while talking about PRC? That's funny.

[somenameforme]

China's GDP to debt ratio is lower than the US' while continuing to have a rapidly growing economy, whereas US growth is not only significantly less but trending downward. About 17% of Chinese GDP is accounted for by government spending, in the US it's now up to 36%. And bond yields for China are dramatically lower than in the US, meaning all of their debt also comes way cheaper.

Claiming they're headed for economic catastrophe is rather the same sort of claim as you were making above - okay, they're headed for economic catastrophe but have some of the best economic metrics relative to other major economic powers, in much the same way that they have "laughably low" consumption of EVs yet purchase more EVs than anywhere else in the world.

[ShinyLeftPad]

This is not the best metrics for many reasons, and the actual spending is more than 30% (with higher share going to manufacturing vs. households compared to western countries), and government deficit relative to GDP is higher than in the US, but we go way off topic. I am glad you agree that comparing Chinese EVs by price to European ones is pointless though.

[somenameforme]

These are not numbers solely from China, they are measured by third parties. They're certainly at least as reliable as the numbers I'm citing for the US.

And the entire point here is that comparing Chinese to European EVs by price is completely reasonable. There's a reason that Chinese EVs are taking over the world and European EVs are essentially unheard of, and price is definitely a big part of that.

China is, again, very much like the US in the 50s-60s - a complete manufacturing behemoth with a tiny cost of living and tremendous economic opportunity which all adds up to creating an amazing situation for people (and the world at large). They just need to avoid the trap the US fell into some decades later.

[ShinyLeftPad]

> There's a reason that Chinese EVs are taking over the world and European EVs are essentially unheard of, and price is definitely a big part of that

Sorry can't take this seriously anymore. By your logic if I give you a shitty laptop for $1 because I would literally have to trash it otherwise you therefore say it's 1000000% better than a Macbook because it's so cheap. Pretty much says it all.

[somenameforme]

BYDs aren't just cheap, they're also great cars. Western economies have become extremely dysfunctional, probably in large part due to everything being run by bottom feeder MBAs who can't see beyond the tip of their noses. It's not only possible to have cheap+good, but I think ultimately necessary for a healthy economy.