China’s economy defies expectations

中国经济表现超出预期

China’s economy has performed better than expected so far this year, with industrial output and retail sales both outperforming forecasts. Despite this, the chinese is cautioning that domestic demand remains too low. DW Business speaks with Michael Pettis, senior fellow at the Carnegie China Center and professor of finance at Peking University, about how the country can boost consumption at home and restore its image internationally.

今年迄今为止，中国经济的表现好于预期，工业产出和零售销售双双超出预期。尽管如此，中国警告说，国内需求仍然过低。德国之声采访了卡内基中国中心高级研究员、北京大学金融学教授迈克尔·佩蒂斯，就中国如何促进国内消费、恢复国际形象进行了对话。

以下是外国网友的评论：

jerryfish09

Germany recently invested heavily in China

德国最近在中国大举投资

jeff5534

He lost me when he said the high tech sector isn’t that important… it is

他说高科技行业没那么重要，我被他弄糊涂了

k.k.c8670

It is going to be a monumental task to get people to save materially less and consume a lot more like in other economies .

让人们像其他经济体一样，减少储蓄，增加消费，将是一项艰巨的任务。这与中国几千年来的文化和习惯背道而驰。

SimeonRadivoev

Did he seriously say the sustainable way is for people to consume more ?

可持续发展的方式，是让人们多消费吗?

addict8229

Increasing domestic consumption in China is going to be extremely difficult with the majority of savings tied up in real estate. Real estate in China is hard to sell considering over 90% of home sold are new.

在中国，增加国内消费将是极其困难的，因为大部分储蓄都和房产捆绑在了一起。考虑到90%以上的房屋都是新房，中国的房产很难卖出去。

vlarion2023

What if the reason is simply that they don't want to become a service-focused economy and just wants all the factories to stay at all cost?

是他们不想成为一个以服务业为中心的经济体，只是希望所有的工厂不惜一切代价留下来?

internetidentity3917

Chinese accounting defies reality.

中国的数据与现实不符。

jordanbridenstine8372

Laughed out loud because yesterday I watched a news outlet saying China was at rock bottom because of its poor policies the media can’t make up its mind

笑死了，昨天我看到一个媒体说中国经济处于低谷，媒体无法下定决心

anfio137

when I live in Shanghai, sam’s and Cosco supermarket  always full of customers everyday, and both of them is America company

我在上海的时候看到山姆和COSCO超市每天都挤满了顾客，这两家都是美国公司

SteffiReitsch

They're a nation of clever, thrifty , workaholics with a high degree of cooperation and low crime. As long as they were just making  yo- yos, windshield wipers and stuff, the U.S. didn't bother them, but when they moved up to high tech stuff,  that's when the Amerikans started messing with them.

他们是一个低犯罪率的国家，人民聪明、节俭、爱工作、高度合作。只要他们做的还是溜溜球、雨刷之类的东西，美国就不会骚扰他们，但当他们涉足到高科技产品时，美国就开始骚扰他们了。

JamesBond-su7hj

India has lower productivity, which fits very well with the low demand

印度的生产率较低，与其低需求非常吻合

PilafiaPlucked

Chinese people have been consuming in excess housing that they saw as great investments.  Now there are hundreds of millions of vacant apartments that are looking like they’ll only be a loss.  I can understand they want to save in gold, crypto, foreign company stock.

中国人一直在消费过剩的住房，他们认为这是一项伟大的投资。现在有数以亿计的空置公寓，看起来只会亏。我能理解他们想投资黄金、加密货币、外国公司的股票。

kongwee1978

Chinese are buying less western luxury stuffs.

中国人正在减少购买西方奢侈品。

stanleykubrick8786

So he said that Chinese people shouldn't rely on tech so much and should adopt North American lifestyles to a greater extent by eating more to the point of getting diabetes while calling on people to do home delivery in order to build the GDP, this will make for a more diversified economy. Right on. Another thing, he says that China's infrastructure is among the most advanced in the world: Look again, it's relatively easy to build new projects from scratch but when they start crumbling because of poor materials and workmanship: LOOK OUT! In short: these Ponzi scheme levels of growth are unsustainable with dark clouds on the horizon for this nation.

中国人不应该太依赖科技，应该采用北美的生活方式，多吃，吃到得糖尿病的程度，同时呼吁人们叫外卖，提高GDP，这将使经济更加多元化。

中国的基础设施是世界上最先进的：再看一遍，从零开始建造新项目相对容易，但当它们因为材料和工艺低劣而开始倒塌时：小心！

简而言之：这种庞氏骗局式的增长水平是不可持续的，对这个国家来说，乌云笼罩着这个国家。

Mapletibitz

Wow, DW reporting China objectively? That’s refreshing to see.

哇，德国之声在客观地报道中国？这让人耳目一新。

user-vj4sn1hk3n

Demand for high quality is more sustainable than low quality products.

对高质量产品的需求比低质量产品更可持续。

jimbogan367

When the people have no basic  social-economic securities  such as medical service and education, they have to save hard for these experiences.

人们没有基本的社会经济保障，如医疗服务和教育，他们不得不努力存钱。

swaraj670

Middle class and poor are Modern slaves

中产阶级和穷人是现代的奴隶

meilinchan7314

For Xthe consumer economy does not matter, the traits described here clearly show one thing - China is preparing for war. High youth unemployment and high industrial capacity are the means by which governments can prime their national economy for prolonged military conflict.

消费经济并不重要，表明一件事——中国正在为战争做准备。高青年失业率和高工业产能是政府为长期军事冲突做好经济准备的手段。

DG-ie5ip

What do you think when you pick up an item Made in China ?  What products last longer ? Countries that use quality materials/workmanship ; ie... Germany or USA/UK and some other EU countries and many more !  Although you pay for what you get...IMO

当你拿起一件中国货时，你会怎么想？什么产品的使用寿命更长？使用优质材料和工艺的国家，即德国、美国/英国和其他一些欧盟国家，还有更多！一分钱一分货

stevematthews4489

Basically, China's  issues are structural, where the economy is designed to move money away from its citizens (consumption) and funnel it to investment (savings). "Savings" is not some chinese cultural quirk - they like to spend money as much as anybody. "Savings" is the economic concept for fiscal investment vs fiscal consumption. It's apparently very difficult to change an investment driven economic model to a consumption model.

基本上，中国的问题是结构性的，经济的设计是将资金从公民(消费)转移到投资(储蓄)。“储蓄”不是中国人的文化怪癖——他们和别人一样喜欢花钱。“储蓄”是财政投资与财政消费的经济概念。将投资驱动型经济模式转变为消费驱动型经济模式显然是非常困难的。

Jamal-Ahmed786

That's because their population is not that materialistic as western consumers

这是因为他们的消费者不像西方消费者那样物质至上

danieldpa8484

BIP and all those factors are a smoke screen - what counts is food, water, resources and people doing the production. China has plenty of all of it

BIP和所有这些因素都是烟幕——真正重要的是食物、水、资源和从事生产的人。而这些，中国都有很多

PhilipZeplinDK

"China has the best infrastructure in the world" - what? o0'

中国有世界上最好的基础设施

tangerine6949

The Chinese economy was majorly aided by accelerating the domestic growth of the electric car industry.  It likely filled in some of the void of the real estate industry, buuutttt, worldwide sales of EV is not growing exponentially.  That said, it's good to hear that China's recession seems to be occuring at a milder pace so as to not cause a worldwide recession.

中国经济主要得益于国内电动汽车行业的加速增长，它可能填补了房地产行业的一些空白，但是，全球电动汽车的销量并没有呈指数级增长。话虽如此，很高兴听到中国的经济衰退似乎正在以较温和的速度发生，以免引发全球经济衰退。

Soooooooooooonicable

No one wants to spend money because income isn't kee up with cost of living. This is the problem everywhere. Everyone is too afraid to stand up to the rich.

没有人愿意花钱，因为收入跟不上生活成本。这是无处不在的问题，每个人都太害怕了，比不得富人。

calexco66

I think the FDI is more important to Chinese elites because it's a source of foreign currency and knowledge transfer than actual need for investment funding. Unless there's something very wrong with the banking system in China, there's enough spare capital for investment. That doesn't mean there are enough good ideas where to invest though...

我认为外国直接投资对中国精英来说更重要，因为它是外汇和知识转移的来源，并不是真正需要投资资金。除非中国的银行系统出了什么大问题，否则中国有足够的闲置资金用于投资，但这并不意味着有足够多的好创意可以投资……

l-gool_t

Everyone is still consuming the same.  Who is the world manufacturer?  China can produce more and cheaper....

大家还是在消费。谁是世界制造商？中国可以生产更多更便宜的产品。

whatyousaid1375

Why Apple, micron, Qualcomm, blackrock,

Tesla, etc keep expand their investment in China? They constantly visit China, like this week they are all in China

为什么苹果、美光、高通、贝莱德、特斯拉等继续扩大在中国的投资？他们经常去中国，就像这周，他们都在中国

AaronOkeanos

According to whom? And please don't tell me according to their own data. That would be naive.

根据谁的数据？请不要根据他们自己的数据，否则就太天真了。