China's foreign direct investment fell 82% last year, hitting another 30-year low.
Official data shows that China's foreign direct investment (FDI) fell to a 30-year low last year, the lowest level since Deng Xiaoping's southern tour. Scholars believe that the crux of China’s economic decline is that Xi Jinping is accelerating his regression and frightening Chinese and foreign investors.
Data from China's "State Administration of Foreign Exchange" show that China's net FDI in 2023 was US$33 billion, a plunge of 82% from the previous year. However, the "State Administration of Foreign Exchange" still sang good news about China's economy at the press conference, saying that "foreign investment in China has generally shown a net inflow."
Wang Chunying, deputy director and spokesperson of China's State Administration of Foreign Exchange, continued to sing the good news about China's economy in the form of answering reporters' questions, saying that foreign capital was showing a net inflow. (State Administration of Foreign Exchange of China)
But in fact, China's current FDI value is less than 10% of the peak of US$344 billion in 2021, and it is the lowest point in 30 years since Deng Xiaoping's southern tour in 1992.
He Jiangbing, a well-known Chinese financial scholar, told this station that the drop in FDI back to the level of 30 years ago shows that China's current practices are contrary to reform and opening up, including bad relations with the West, structural problems in the capital market, unprotected private property and private enterprises, and state-owned enterprises. Advancement of the people and retreat of the people, concentration of power, bloated government agencies, etc., along this dead end, there is no hope for China's economic recovery.
He Jiangbing said: "This data has dropped to the level of the 1990s, showing that China's economic recession is much faster than most ordinary people imagined. What can you do now? Restart reform and opening up, real change and opening up. What can he (Xi Jinping) do? Got it? China’s economy is hopeless.”
Public opinion generally believes that China's economic recession is one of the reasons why foreign companies are reluctant to invest. It is also related to China's implementation of the new "Counterespionage Law". After the implementation of the new law, foreign businessmen have been reducing their business in China. Coupled with the U.S.'s chip ban on China, related companies are withdrawing from China.
Cai Shenkun, a Chinese independent media person living overseas, was also interviewed by this station. He believes that the most fundamental reason for China's sharp economic decline is that the political environment makes foreign investors feel insecure. Although the Chinese government is aware of the risk of an economic crisis impacting the regime, it has not yet found a fundamental solution to prevent Xi Jinping from accelerating his regression.
Cai Shenkun said: "Last year it was a cliff-like decline, let alone this year, it has returned to the situation at the beginning of reform and opening up. One is that China's current political atmosphere is very unfriendly to foreign investment and foreign businessmen, and people are arrested at every turn. Another thing is that there are problems in the stock markets of China and Hong Kong, and foreign capital has been flowing out. It still wants to attract foreign capital, stabilize foreign capital, and restore foreign capitalists' confidence in China. It just says that these measures cannot solve the fundamental problem. The fundamental problem is China. There is a problem in politics, and confidence in the future means that you must stop the pace of regression in politics."
The Chinese authorities have previously imposed a ban on economic and financial analysts and academic circles to restrict the publication of content that denigrates the Chinese economy. Earlier, economist Gelong's video analyzing China's economic status quo was blocked by the Chinese Communist Party authorities. He pointed out that China's economy may become an "island economy" because the "external circulation" includes several key data, which are already in China today. It has basically returned to zero, and one of the most important indicators is the withdrawal of foreign capital. Gron emphasized that when China's economy once again becomes an "island economy", if fundamental changes are not made, the consequences will be disastrous.
Under the "reform and opening up" led by Deng Xiaoping, China has been committed to attracting overseas investment, talent and technology since the late 1970s.
Thailand's Prime Minister says action will be taken against Myanmar nationals who enter illegally
Thai Prime Minister Srettha Thavisin has warned that action will be taken against Myanmar nationals who enter Thailand illegally.
The Bangkok Post reported on February 19 that the Prime Minister of Thailand said that he had discussed with the security organizations to take action against those who entered illegally.
"We welcome those who enter legally. However, legal action will be taken against those who enter illegally. We have also discussed with security organizations."
The Thai Prime Minister also said that the number of Myanmar nationals applying for visas to come to Thailand has increased significantly after the Military Council promulgated the Militia Conscription Law.
The Thai Embassy in Myanmar in Yangon announced on February 14 that it will accept only 400 visa applicants per day due to the high number of visa applicants.
Military Council spokesman General Zaw Min Tun said that there are more than 13 million people who are eligible for military service in Myanmar.
General Zaw Min Tun also said that the first call-up process for military service will begin at the end of April 2024.
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