Chinese Economics Thread

[gelgoog]

Just look at scum billionaires in the West like the WeWork founder i.e. Adam Neumann.
Do you think people like that should be able to just scam everyone and run away as bandits?
I think China has its priorities straight. These parasites would prevent China from ever getting into high income society in the first place.

 

[ansy1968]

Just look at scum billionaires in the West like the WeWork founder i.e. Adam Neumann.
Do you think people like that should be able to just scam everyone and run away as bandits?
I think China has its priorities straight. These parasites would prevent China from ever getting into high income society in the first place.

@gelgoog bro they had legalized and decriminalized corporate corruption, calling it as FREE MARKET...lol The reason not to sent my children to study in the US with a crappy degree.

 

[Kabir]

for fuck's sake, you sound more and more like a CCP Gestapo, it's disgusting. who gave you the right to jail or excute anyone? you want to turn the country into a concentration camp just because you are a loser?

A pretty interesting comment in my opinion. Specially the question which asks about the right to jail or execute anyone.
I would want to ask why is it people of USA try to role play as policeman with a gun around their belt ? What gave them that right?
To add to that, some people in USA in uniform are also found in other sovereign territory executing other people. How did that happen?
It seems to me people in West, specially of those in USA, are out of control. Is it because of the freedom which they can not control? Or is it because of their never ending list of rights which keeps getting bigger at faster rate than dark energy?
It is very interesting that people of west are pretty terrified of any government which may call them what they are.

 

[LesAdieux]

I think your priorities are a little bit misplaced.

priorities misplaced? let's see how ordinary people lost their livelihoods overnight.

after school teaching and learning has been part of education in China for a long time, millions of ppl make their living on it. then the government outlaws it over night.

 

[LesAdieux]

You obviously don't know that Evergrande played this over-leverage game into the next level. When the government was trying to stop over-leveraging, the company turned towards other "ways" to get money, off-the-books. When the government was trying to stop over-leverage, he was pushing for far.more debt than his company could handle

So, spare us your faux-outrage

If Evergrande goes under due to his incompetence, millions of people will be affected, thousands of people will lose their jobs, many people will suicide due to losing money, and in the end the damage to the economy will also affect the strategic competition between China and the US

Bookmark my post if you want, if Evergrande goes under and it also damages the economy, he will get executed 100%. This is why you are seeing him trying to sell everything he has to save the company

This is China, not the West. And China has its own ways to deal with such criminal people

The government is implicit in all property market manipulations. it claims the lions share, up to 70% of the revenue. now it's the developers served as the scapegoat. and you keep using words like: confiscation, jail, and execution, you must be a real fan of Stalin!

 

[Bellum_Romanum]

@gelgoog bro they had legalized and decriminalized corporate corruption, calling it as FREE MARKET...lol The reason not to sent my children to study in the US with a crappy degree.

Unless you're the usual Politician lemmings in the Philippines. Phil Education ought to be comprehensively be reorient towards the grand importance of STEM and not on how well a regular Filipino can speak and or write in English. And rather than dreaming of sending kids to western University (for all the wrong reasons sex, drugs, debauchery) the best and the brightest ought to study in China's top universities to absorb and learn what can be applied back to the Philippines rather than the usual OMG I was in California and now am feeling Hollyweirdo.

The Philippines will not be able to rely on it's surplus of cheap Labour that it sends abroad because that exercise is a self defeating endeavor since it actually depletes the country from its most hardworking best and brightest citizens. Most of whom will elect to naturalize in the respective countries especially in the west. And the coming automation, IOT, A.I. in our economies will further erode the Labour export countries like the Philippines currently enjoy. How is the Philippines going to meet these existential challenges and the societal upheaval these new change will bring to the country.

The Philippines is so American centric isn't even funny it's like the minds of the Filipinos have been utterly captured and colonized by America it is scary. But as you rightly pointed out it seems that the recent political change in your country became a seminal moment that American hold and sway are not as strong as it used to be.

 

[Bellum_Romanum]

The government is implicit in all property market manipulations. it claims the lions share, up to 70% of the revenue. now it's the developers served as the scapegoat. and you keep using words like: confiscation, jail, and execution, you must be a real fan of Stalin!

Was Evergrande a state owned entity? Yes or No?

 

[Tyler]

Xu(Hui) took excessive risk and paid the price. it is Xi who changed the rule with the "three red lines" which triggered the crisis. over night rule changing makes billionaires penniless, communists are celebrating.

It should be the state owned banks that evaluate each borrower's debt servicing abilities. Were the banks following government guidelines? Were the guidelines inadequate to begin with?

 

[Petrolicious88]

How dare YOU @Overbom don't you have any shame at all and compassion towards the Billionaire class? After all, without them, the world and society becomes meaning less. The poor deserves to be the poor because they're all nothing but communists; leeches of the society. Lol

Not all billionaires are bad. Many made their money the honest way and made meaningful contributions to society. Yes target the corrupt, but keep the incentives alive for the entrepreneurs and innovators.

 

[AndrewS]

priorities misplaced? let's see how ordinary people lost their livelihoods overnight.

after school teaching and learning has been part of education in China for a long time, millions of ppl make their living on it. then the government outlaws it over night.

No

Hundreds of millions of parents now don't have to pay expensive afterschool cram classes in English, Maths, etc until midnight

The money that the parents were previously spending will go elsewhere into areas like sports, activities or music
I'm thinking subjects like coding or robotics classes will boom, which is way better than extra English, Maths, Science classes

Otherwise all you have are exam robots

From my point of view, it's a genius policy if they can enforce it