Chinese Economics Thread

[Quickie]

Good question. The GDP per capita is expressed in PPP, that I can confirm.

The fiscal revenue data was collected from several external sources. One of them by Brandt, Ma, Rawski. There they made a conversion of revenue into days' wages:
View attachment 74302

Measured in days wages, per-capita revenue is not that far off from other countries compared to measured in grams of silver.

 

[Bellum_Romanum]

Low respect for law, low awareness of law, thuggish enforcement of law (just some days after raising cash from its US IPO lol).

Shambles of a response

Big new development

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So you are telling me an ~ $60 billion company with an army of lawyers didnt know that they were clearly breaking the law lol

Cronyish selective regulatory enforcement. So just after some days of its US IPO the crackdown happened? What a coincidence!

Is this the supposed China's impartial and non-discriminatory laws/regulations enforcement?

I guess that this is included in "Xi Jinping Thought on the Rule of Law"

Why do you think the enforcement of the existing law which was knowingly violated by Didi is being interpreted as "thuggish." In your judgment what should have been the proper action Cybersecurity regulatory commission have taken to ensure the laws on the books are not only respected but actually followed and the rule are fairly enforced without looking heavy handed or in your words "thuggish."

This move sort of a reminiscent of the ANT IPO cancelation which also sent shockwaves around the western world and was also disparaged very negatively at the time. Fast forward to just last week when the Vice-chairman of Berkshire Hathaway and Warren Buffet's right hand man, Charlie Munger opined that what China did with respect to ANT financial was the right thing to do for the country that statement also sent shockwaves to the pseudo experts who were whining and screaming the doom and gloom of the future of Chinese economy.

Where do you exactly stand on the Chinese way of doing things though because your statements and pronouncements are seemingly all over the place. One minute your praising the government for it's supposed master handling of issue(s) the next moment you're making pronouncements that sort of contradicts the unbridled enthusiasm you expressed on earlier topic.

Making value judgment on any given issues ought to be based on some empirical evidence before we make bellicose statements or declare something or view an action with very dramatic description. Why not take a wait and see approach because frankly the CPC leadership deserves to be given such a leeway/slack based on their track record of achievements; an achievement that's unprecedented in modern human history.

 

[voyager1]

You were jumping up and down when they crackdown on Jackma...

Link my post where I was "jumping up and down"

I definetely support the Jack Ma crackdown. IMO the guy should already be in jail

Same here with Didi... they might have been hosting their servers and rider data in the US, giving CIA information to Chinese citizen whereabouts in real time...

Maybe yes, maybe no. We will see. The problem is that they did this just AFTER the IPO, this is basically a fraud against the US IPO investors.
This case should had been handled the same way as with the Ant Group case. They should have publicized the investigation BEFORE the IPO.

I have full faith and confidence in Xi, China has proven time and again when it does this there always is a good reason even if right now we dont know the extent of it

Sorry but I never trust anyone or anything "fully". Especially someone as powerful as Xi.
See the Mao example, the debt explosion on the 2008 crisis, the whack-a-mole with the local gov debt, the 2015 stock market Gov overreaction, the demographic crisis, the property price crisis etc.

Now dont get me wrong, Xi is obviously doing a lot more good than bad but he is not perfect. So as I said, for all it matters, I dont trust him "fully"

Didi wants to be a defacto Chinese Ride share and national champion but lists on the enemy's stock exchange and stores Chinese user data offshore in enemy data center?

Agreed. I still dont understand why these huge companies list on foreign stock exchanges and thus making the enemy wealthier than choosing to list domestically and make the Chinese investors richer. Dunno..

Traitors needed to be taught a lesson

Agreed. However the bans and the investigation should have happened before the IPO. Its not like it was a secret that DiDi was going to have a US listing

 

[quantumlight]

Why do you think the enforcement of the existing law which was knowingly violated by Didi is being interpreted as "thuggish." In your judgment what should have been the proper action Cybersecurity regulatory commission have taken to ensure the laws on the books are not only respected but actually followed and the rule are fairly enforced without looking heavy handed or in your words "thuggish."

This move sort of a reminiscent of the ANT IPO cancelation which also sent shockwaves around the western world and was also disparaged very negatively at the time. Fast forward to just last week when the Vice-chairman of Berkshire Hathaway and Warren Buffet's right hand man, Charlie Munger opined that what China did with respect to ANT financial was the right thing to do for the country that statement also sent shockwaves to the pseudo experts who were whining and screaming the doom and gloom of the future of Chinese economy.

Where do you exactly stand on the Chinese way of doing things though because your statements and pronouncements are seemingly all over the place. One minute your praising the government for it's supposed master handling of issue(s) the next moment you're making pronouncements that sort of contradicts the unbridled enthusiasm you expressed on earlier topic.

Making value judgment on any given issues ought to be based on some empirical evidence before we make bellicose statements or declare something or view an action with very dramatic description. Why not take a wait and see approach because frankly the CPC leadership deserves to be given such a leeway/slack based on their track record of achievements; an achievement that's unprecedented in modern human history.

The fact that both the ANT and Didi incidents are in mainstream US news and I sense salt from the reporting indicates to me the US was salivating over what would have been a nice meal had CPC not stepped in to stop the mistake

Back in 2019 Ren CEO Huawei did a major interview with a major US news... talking points most likely US gov feed to the female reporter who was extremely antagonistic towards Ren....

Anyway, I distictively recall it was strange she was trying to pressure Ren to take Huawei public and list on US exchanges... hmmmmmmmm

 

[voyager1]

Why do you think the enforcement of the existing law which was knowingly violated by Didi is being interpreted as "thuggish." In your judgment what should have been the proper action Cybersecurity regulatory commission have taken to ensure the laws on the books are not only respected but actually followed and the rule are fairly enforced without looking heavy handed or in your words "thuggish."

This move sort of a reminiscent of the ANT IPO cancelation which also sent shockwaves around the western world and was also disparaged very negatively at the time. Fast forward to just last week when the Vice-chairman of Berkshire Hathaway and Warren Buffet's right hand man, Charlie Munger opined that what China did with respect to ANT financial was the right thing to do for the country that statement also sent shockwaves to the pseudo experts who were whining and screaming the doom and gloom of the future of Chinese economy.

Where do you exactly stand on the Chinese way of doing things though because your statements and pronouncements are seemingly all over the place. One minute your praising the government for it's supposed master handling of issue(s) the next moment you're making pronouncements that sort of contradicts the unbridled enthusiasm you expressed on earlier topic.

Making value judgment on any given issues ought to be based on some empirical evidence before we make bellicose statements or declare something or view an action with very dramatic description. Why not take a wait and see approach because frankly the CPC leadership deserves to be given such a leeway/slack based on their track record of achievements; an achievement that's unprecedented in modern human history.

See my previous post. The investigation and the bans should have happened the ala Ant Group style ie. BEFORE the IPO.

This is like China is shouting to the world that it only investigated them for the US IPO (not that I disagree on the principle behind it. I disagree with the way it did it)

This seems unorganized. I mean, I also agree that these mega companies should not list on the US stock exchanges, however this should not happen like this. It should be as part of different set of laws and regulations. Thats what the phrase "rule of law" means.

If you are just using other types of laws to punish these kinds of things then this is Mafia boss territory. If China wants to stop their big companies from listing in the US then make a law/regulation for it.

 

[quantumlight]

See my previous post. The investigation and the bans should have happened the ala Ant Group style ie. BEFORE the IPO.

This is like China is shouting to the world that it only investigated them for the US IPO (not that I disagree on that lol)

This seems unorganized. I mean, I also agree that these mega companies should not list on the US stock exchanges, however this should not happen like this. It should be as part of different set of laws and regulations. Thats what the phrase "rule of law" means.

If you are just using other types of laws to punish these kinds of things then this is Mafia boss territory. If China wants to stop their big companies from listing in the US then make a law/regulation

Rule of law sounds nice on paper but unless youve been living under a rock the last couple years.... look at Meng kidnapping, Iran general goaded into fake peace talks just to get drone assasinated by US, and US lowering deminimums from 25 percent to 10 percent to zero percent and all the shenaingans

Should be clear to you its hegemony that rules over law, and not law that constrains hegemony

US is waging all out war against China while hiding behind lip service of democrazy, freedumb, rulez of law... when in reality these were nothing more than pyscho ops propaganda tools and frameworks of hegemon to maintain status quo of its dominant position.... all the while the exceptionlists exempt itself as above the law...

 

[Xizor]

Oh yes, dont get me wrong. I agree with the investigation.

What I find thuggish is that it happened just after the US IPO, I mean my dude, this is screaming "I am punishing you for the US IPO"

And why did the regulators need the US IPO to "focus the limelight" on a ~$60 billion company. This is just bad and incompetent from the Gov

And with what happened it is now clear that the Chinese pulled (again) a fast one to the US Investors with this not happening before the IPO

I mean, look at this. Keep in mind that the markets are closed. Watch the bloodbath happen tommorow, it will be glorious...
View attachment 74303

Maybe I'm reading it wrong...

But my point was - Chinese authorities might've been investigating Didi for some time ( months or an year) and announced the case AFTER the IPO.

 

[quantumlight]

Why do you think the enforcement of the existing law which was knowingly violated by Didi is being interpreted as "thuggish." In your judgment what should have been the proper action Cybersecurity regulatory commission have taken to ensure the laws on the books are not only respected but actually followed and the rule are fairly enforced without looking heavy handed or in your words "thuggish."

This move sort of a reminiscent of the ANT IPO cancelation which also sent shockwaves around the western world and was also disparaged very negatively at the time. Fast forward to just last week when the Vice-chairman of Berkshire Hathaway and Warren Buffet's right hand man, Charlie Munger opined that what China did with respect to ANT financial was the right thing to do for the country that statement also sent shockwaves to the pseudo experts who were whining and screaming the doom and gloom of the future of Chinese economy.

Where do you exactly stand on the Chinese way of doing things though because your statements and pronouncements are seemingly all over the place. One minute your praising the government for it's supposed master handling of issue(s) the next moment you're making pronouncements that sort of contradicts the unbridled enthusiasm you expressed on earlier topic.

Making value judgment on any given issues ought to be based on some empirical evidence before we make bellicose statements or declare something or view an action with very dramatic description. Why not take a wait and see approach because frankly the CPC leadership deserves to be given such a leeway/slack based on their track record of achievements; an achievement that's unprecedented in modern human history.

After the fake news of CPC high level defector... I see all US news about China as the same as Gordan Chang predictions....Jai Hind plus Delta

Whatever US says about China, the opposite is closer to the truth...

If CNN is bitching about Didi app registration block, you know China made the right move

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[voyager1]

Maybe I'm reading it wrong...

But my point was - Chinese authorities might've been investigating Didi for some time ( months or an year) and announced the case AFTER the IPO.

Yes this is what I am saying. They should have announced the case before the IPO. Watch the bloodbath on DiDi's share price tommorow after the stock market opens.

This is plain fraud against the US IPO investors, fortunately I didnt buy any of its shares lol

The shareholders will definetely launch a class action lawsuit against DiDi for this mess.

 

[quantumlight]

Yes this is what I am saying. They should have announced the case before the IPO. Watch the bloodbath on DiDi's share price tommorow after the stock market opens.

This is plain fraud against the US IPO investors, fortunately I didnt buy any of its shares lol

The shareholders will definetely launch a class action lawsuit against DiDi for this mess.

You sound like when the petrodollar hegemon doing QE+ was labeling China as largest currency manipulator...

We are in cold war 2.0, do you really think only one side play fair while other side lies, cheats, and steals?

Happy 4th July present from CPC to all US "investors" of this IPO lmao