what happens when you’re stupid enough to follow Anglo American diktat on restricting chips to China? Your poor Samsung executives now have to pull 996 to help the company recover. This is rearranging deck chairs on the titanic, this crisis of Samsung was self inflicted and could be resolved simply by committing to the Chinese market, opening top range factories in China and insulating decisions from racist anglos in the five eyes. You reap what you sow.
In that sense, President Xi's plan of making China a finance capital of the world serves to dilute and winnow the relative power of the shanghai faction, to inject a bit of patriotic spirit and expel the hanjian turds. What jewish capital in new york and london does for Israel, so too should Chinese capital do for China; currently, the Overseas Chinese market is worth billions and it is all going towards the anglo american capitalist war machine against China. What i want to see is an Overseas Chinese Blackrock or Goldman Sachs that not only invests in China, and serves Chinese interests but also provides jobs and access for Overseas Chinese who are often targeted unfairly in white workplaces and are bamboo ceiling'd.There are 3 types of business people in China IMO. Let me call them the Beijing faction, Shenzhen faction and Shanghai faction.
Beijing faction: SOEs, MIC, some software
Shenzhen faction: industrial and tech hardware private companies
Shanghai faction: foreign companies, finance, media and some software.
The interests of the Beijing and Shenzhen factions depend on China doing well. If China does poorly then they lose everything.
But the Shanghai faction - not necessarily physically located in Shanghai of course - doesn't depend on China doing well. They're only there to rent seek and extract profits for foreign MNC. Even worse is that because they are concentrated in service industry it's easy for foreigners to invest in.
