FriedRiceNSpice
Major
2008 bad or 1929 bad?
How difficult is it for former Chinese nationals to acquire permanent residence in China? How to hold large amounts of RMB assets if non-PRC citizens cannot open bank accounts in PRC without work visas?
American Economics Thread
- Thread starter Bernard
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How difficult is it for former Chinese nationals to acquire permanent residence in China? How to hold large amounts of RMB assets if non-PRC citizens cannot open bank accounts in PRC without work visas?
I would argue that we've already been in decline for the better part of the past decade. Covid was the ultimate accelerant of the underlying structural trends and the Iranian war was yet another accelerant - it probably cost a good 5-10 years of 'squeezing vassals with decorum'.
You have Spanish PM openly breaking rank (in the West) and Canadian PM openly calling for dealing with rupture.
That being said, 2028 is the last chance for a 'Hail Mary' to prolong US hegemony - the Dems need to go full Lina Khan and Isabella Weber.
You can hold Chinese assets - even if they were listed in HK or in the US - despite that they are denominated in USD or HKD, the underlying cashflows are RMB.
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1453 bad… Trump is the symptom, not the cause like the neolibs want you to believe. However, he managed to pour like an oil tanker worth of fuel on the fire so everything is happening at a much much faster pace.
FriedRiceNSpice
Major
Can these assets be sanctioned/frozen by the US? Through what mechanism can these assets be converted to RMB?
Well, it was during Biden's time, probably around late 2022-2023 that it already became apparent the US economy has moved past the point of no return (which in actuality must've happened at some point before that timeframe).
礼崩乐坏！
They can't freeze HK - so I would recommend HK if you're afraid of this. Or immigrate to Europe/Canada/Singapore.
By the way even when I say implode I don't mean imminent (like this year or next year). Not sure what @siegecrossbow thinks but I think we have quite a few years before that point happens.
FriedRiceNSpice
Major
I would like to think we have another 10-20 years. The problem with a financial collapse is you can't really tell exactly when it's going to happen, so you have to prepare ahead of time. By the time the collapse happens, it is too late. Long term plan has always to been to emigrate once enough money has been made, but ideally preparations begin sooner rather than later. There is a need to start moving assets out of US in a way that would not be subject to any future sanctions or US capital controls - ideally in low-risk moderate yield assets.
FriedRiceNSpice
Major
From a long-term perspective, it seem best path for the US (if the oligarchic capitalist pedo-elites are still capable of aligning with one another to further their common interests in a rational manner) would be to establish direct control over the energy and mineral resources of the Western hemisphere, and seek to coordinate with Russia to establish a duopoly on energy and mineral resources. Under this strategy, it would make sense for the US/Russia to ensure ongoing conflict and crisis in the Middle East would continue indefinitely to handicap the energy production capacities of the Middle East (with Israel and Iran being tasked with the implementation), and both US and Russia would profit from higher energy, resource, and food prices. These resources would necessarily be supplied to China at a discount, in order to secure Chinese buy-in and access to Chinese resources (ie rare earths) and advanced manufactured products, essentially establishing a tri-polar world economic system.
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They'd rather try and Reverse Nixon Russia against China than to set up a new tri-polar world economic system with China. The elites aren't quite at 'acceptance' stage of grief wrt. Chinese rise.
FriedRiceNSpice
Major
Last month I mused:
But from the Russian point of view - it would be against Russia's core interests for either China or the US to attain a total dominance/supremacy, as that would leave Russia (being by far the weakest of the 3) vulnerable to the sole remaining superpower. Likely Russia will co-operate more and more with the US in areas where interests align, with the incentives for cooperation increasing inversely with American strength relative to China. In reality, the US would be forced to make concessions to Russia, while Russia would be forced to placate China. So even if it is not the goal of the US elites to establish a new triangular world economic system with China, they may be de facto forced into it.
Fingers crossed a certain Arabic/Russian soft power advocate won't notice this discussion and reply with a text wall about traditional Russia/Islamic values and Russia building supercities in the tundra hosting giga-factories for producing Russian EVs and data centers at the will of Arabic soft power.
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There's a pathway, not very well known, for former Chinese citizens to restore their citizenship if they give up their current citizenship:
Note how you need your place of former household registration and former national ID card number.
The other alternative to gaining Chinese PR without the very rare "made outstanding contribution" method is to just marry a Chinese citizen.