MAEC Padlet Wall by Woon Wei En /CBP https://padlet.com/s10196313/C Choice of Country : China en-us 2019-11-15 10:08:44 UTC 2020-01-30 02:34:43 UTC hello@padlet.com https://padlet.net/icons/png/1f604.png Article 3- China's inflation s10196313 https://padlet.com/s10196313/C/wish/412315544 In this article, it is mentioned that China's Consumer Price Index(CPI) in October 2019 rose 3.8 per cent year on year, the most since January 2012.

The main cause to this is the rapid increase of pork prices as the African swine fever killed a huge population of pigs.
The amount of pork supply decreased, yet the demand for the amount of pork remains the same thus leading to cost push inflation whereby sellers raise their goods price to counter the insufficient supply of goods.

Analysts from Nomura said that there is an elevated risk of a wage-price spiral amid surging pork prices and the spillover effects to other food prices. As prices of goods and services increase, wages also increases. This is to help deal the situation of inflation and the cycle continues. The Spillover Effects may include China's Economy decreasing as many companies face inflation, causing prices to increase, and since most of these companies are from other countries and expanded their infrastructure to China, China is only gaining a portion of the profits made from these companies causing them their economic growth to decline, especially if the government chooses to intervene and help their citizens, which would mean that China's economy will suffer even more.
 
In addition to this, it also affected the accuracy of measuring the changes in the cost of living by calculating CPI.
As the price of pork is included in the calculation of CPI, it resulted in the increase of CPI.

This would overstate inflation as the prices for pork are only increasing for the time being till the African swine fever situation improve. 
The price of pork should then decrease back to around its original price.

]]> 2019-11-17 08:44:11 UTC https://padlet.com/s10196313/C/wish/412315544 Article 2- China's slow economy growth s10196177 https://padlet.com/s10196313/C/wish/412327959 In this article, it is stating about how China has been experiencing slow GDP growth over the year 2019. 
GDP is an important indicator of economic performance and it forms the basis of government economic policies. It is the most widely reported measure throughout the world of a nations economic performance. 

It is said that China is experiencing its lowest GDP gain in at least 27 and a half years, which is 6% in the third quarter from a year earlier. 
China's GDP has already started to fall since the first quarter of 2018 due to credit tightening and the country’s trade dispute with the U.S. 
With the trade talks and conflicts with U.S.,  it is likely expected that China will still continue to have slow economy growth. 

This is because with those tariffs, of 15%, apply to about $112 billion worth of Chinese goods, it will require China to fork out more money to pay for the tariff. 
If they fail to do so, there will be lesser imports and exports of goods to China, causing economy to decline and slower GDP gain. 

However, it is mentioned that China Domestic market has caused a bigger issue rather than external tariff battles. ]]> 2019-11-17 10:42:35 UTC https://padlet.com/s10196313/C/wish/412327959 Comments from Wang I_M_WANG https://padlet.com/s10196313/C/wish/417386734 Hello Team,
You only have two economic concepts. Perhaps unemployment could be the third for you to analyse.

Articles OK, prelim analysis room for improvement.

Please include full names and IDs of all your team members on this wall before printing out for submission. Your tutorial group too.
 
Please refer to my questions/feedback below. These are also meant for you to explore in your report writing. So wait no further.
 
Print out the finalised version of your padlet (pls keep my comments) and submit to me by the deadline (pigeon hole at Blk 72, level 9 or pass it to me in class) and time to kick start your report writing!
 
Questions to ponder:
GDP (Article 1 & 2)
1. How important is USA to China's trade revenue?
2. How important is China's external market to its real GDP?
3. Is China's domestic market doing well? (Can infer from the chosen article also.)
4. Use the expenditure approach of GDP to study some of the mentioned components.

Inflation
It is not demand-pull inflation when you talk about shortage in supply causing an increase in prices. Check again.

Analyse this statement too " wage-price spiral amid surging pork prices and the spillover effects to other food prices,"

 
]]> 2019-11-28 08:06:20 UTC https://padlet.com/s10196313/C/wish/417386734 TC07 MAEC s10196313 https://padlet.com/s10196313/C/wish/428256434 Members : 
Celeste Low Yu Tong S10196177
Darren Chua Qi Xian S10195104
Eve Chua Xin Ying S10195695
Foo Wen Yu S10195264
Woon Wei En S10196313
Peter Lim Han Wei S10198288


]]> 2020-01-07 06:53:04 UTC https://padlet.com/s10196313/C/wish/428256434 Article 1 - China's Unemployment Rate s10195264 https://padlet.com/s10196313/C/wish/428258093 In this article, it has shown that China's unemployment rate has increased by 0.2% in July. This has been the highest unemployment rate of year so far, previously recorded in February, a month when many workers look for new employment. This is due to an increase in number of fresh graduates which can be proven from the statistics shown in the article. This is also known as frictional unemployment. 

Frictional unemployment naturally occurs even in a growing, stable economy. Workers leaving their jobs or new workers entering the workforce both add to frictional unemployment. It is also the normal time taken for fresh graduates and people who are new to the job market to find a job. However, they will not take too long to find a new job as long as the job market is stable and growing. Recent graduates from school or first-time job seekers may lack the resources or efficiency for finding the company that has the job that is available and suitable for them. As a result, they don't take other work, temporarily holding out for the better-paying job. 
Temporary transitions such as moving to another town or city will also add to frictional unemployment since there is often a gap in time between when the workers quit their job and find a new one. These workers don't have another job lined up before quitting their current job.]]> 2020-01-07 07:06:44 UTC https://padlet.com/s10196313/C/wish/428258093