Chinese Economics Thread

[Nutrient]

I am always consistent. The problem is that you didn't even know what you were suggesting to do. If you said we need to fight corruption, I would agree perfectly. But did you say that? No, you said we need to leash all the billionaires before they get too strong.

You misrepresent me. I said that billionaires in China need to be curbed BECAUSE they are potentially the greatest source of corruption -- just as they are in the US. You said, and I quote, "Those who waste time solving problems that don't exist", meaning that the billionaire/corruption problem does not exist. Then under pressure, you admitted that corruption does exist and is something that needs to be fought. You contradicted yourself.

How else can the corruption problem be solved if its greatest cause, namely the billionaires, is not curbed? If China's government doesn't curb them now, they will grow far too strong to be curbed, and then the country will be doomed -- just as the US is probably doomed, in large part because of corruption.

The US is the most powerful country in the world. That is the stand-alone evidence that refutes all of your complaints

More of your short-sightedness. The US is indeed the most powerful country in the world -- and it is also riddled with corruption, and is obviously declining. The same thing could happen to China, if the corruption problem isn't tackled right now, while the billionaires are not too strong.

I don't see at all what you are talking about because even you yourself are admitting that you don't know what you want to be done and now it looks like you don't know if you are talking about corruption or communism.

I did suggest a possible solution: making billionaires totally open.

If someone is earning riches by gaming the system and doing detriment to the national good, then s/he should be thrown in jail.

Americans had the same foolish thought, that they could catch the crooks -- but how many trillions of dollars have been robbed from them in just the last few years?

 

[Nutrient]

While your concerns of the excess and undue influence of the bazillionaires are duly noted and are actually share by most of the people on this forum myself included, not to mention by the large swath of the people in China.

Good. Corruption is always a threat.

Your solutions or lack thereof ...

I did suggest a solution: making the billionaires totally open. Maybe Beijing can invent an even better solution.

 

[Sincho]

Good. Corruption is always a threat.



I did suggest a solution: making the billionaires totally open. Maybe Beijing can invent an even better solution.

Why do equate billionaires with corruption? Without billionaires there will still be corruption.

 

[Nutrient]

Why do equate billionaires with corruption?

I don't. See below.

Without billionaires there will still be corruption.

True. I did say several times that billionaires are potentially the biggest source of corruption. Not the only source, but the biggest. Billionaires can buy people as easily as you and I buy tools.

 

[hashtagpls]

Billionaires can be more susceptible to corruption given that they would identify less with their compatriots and more with the monied elites of the 1%; this is where you get the trope of the internationalist globe trotting Soros types who want to build a world of "GloboHomo" irrespective of national interests.

 

[KYli]

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[Sincho]

I don't. See below.



True. I did say several times that billionaires are potentially the biggest source of corruption. Not the only source, but the biggest. Billionaires can buy people as easily as you and I buy tools.

I don't agree. Do those countries that are most corrupted on the corruption index have the most number of billionaires?

Besides, billionaires with their business, are a big source of employment for many people; people who otherwise will not have a job.

 

[antiterror13]

@weig2000 correct it was Xi in coordination with Merkel, looks to me if the CAI is not approve by the EU parliament , individual state will make separate deals with China. Please check Alexander Mercouris video below

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Xi's Historic Call to Merkel: Free Yourself From Washington, Help Us Build A New World News Topic 100: Xi urges Germany, EU ...

Can separate individual country in EU make a deal with China ?

 

[ansy1968]

Can separate individual country in EU make a deal with China ?

@antiterror13 bro I know it can't but the possibility may be in the works cause the EU decision making is being hampered by this unelected bureaucrats, there is a ground swell of support to take back each states independence, and this agreement may serve as a catalyst for reform.

 

[Arcgem]

There does not have to be new laws or taxes outright spelled out against billionaires. As it stands, there are already unspoken rules Chinese billionaires face, enforced by government regulators.

Currently, China treats its billionaires like (non-appointed) local governors. They can invest their capital in whatever they feel like, so long as those investments better China as a whole overall. If their companies stops providing significant value to society relative to their wealth, this invites increased scrutiny and investigations by the state, like with Ant. Think of antitrust investigations as the private equivalent of anticorruption investigations.

The message is clear: wealth is a privilege that comes with duties and obligations to society, and that privilege can easily be taken away should you abandon those duties or abuse your wealth.

Contrast this with other governments that do not have sufficient authority to keep their billionaires in check. In the end, the result is no different from corruption in government.

In China, exceptional individuals are given the opportunity to become fabulously rich, with the knowledge that the wealthier they become, the more closely their wealth will be monitored by the government.