Chinese Economics Thread
- Thread starter Norfolk
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I don't think it is "wait and see". It is just time consuming to sort out the tens of thousands of bank accounts and all the relevant transactions. As another forum member mentioned previously, the ordinary deposit accounts will have their balance recovered to certain amount from the insurance which is required by law. But the investment accounts will suffer loss from the inherent risk. They must be dealt with differently and accordingly.
Good news is that there is progress being made. The authorities start making payments. But I am not clear whether this is the bank deposite insurance or a taxpayer bailout.
The local governments have made numerous mistakes in handling it for sure, including the sabotage of the covid badge mobile app.
While we agree that those victims of the theft, whether or not they deserve sympathy, do not have the right to gang up on the government, it has unfortunately become common in China nowadays. The government and police usually try to avoid esclation as much as possible. Like it or not, it's considered the necessary price for harmonious society.
Ahh okay, you tried your best to explain the situation with the constraints of a language that you may or may not be too intimately familiar with in this case the English language. And perhaps essence of what you were trying to convey, explain along with the intricacies are maybe lost in translation.
Let me then make an apology for making an inference to your motives and misunderstanding the crux of what you have been trying earnestly to explain.
The paper predicts that Japan will have the "mildest recession thanks to its delayed economic reopening". I assume the delay was due to that Japan happened to have had stricter covid policies than its other accomplices in G7.
Meanwhile, the authors of the paper insist in that China remains at risk of renewed zero-covid lockdowns. So stricter covid policies work for Japan but not for China? LOL.
A Chinese translation of the paper:
Kinda skeptical about some of the points - I don't see zombified EU economy recovering faster than the US. More likely it will be the same as after the 2008 crisis - Europe will recover way slower than the US and the more exposed states within the union will plunge into an even deeper recession with ECB again having to bail them out. Their lax monetary policy is not because everything is so good in Eurozone but because this is the only way their economy can grow.
What happened to the owner of the Henan bank involved in the scam incidence ?
I read through the last 7 or so pages and most discussion were on the scammed victims and how they tried to get their money back from the government. There were just one or two references to the owner absconded with the money to the US.
If that is true, or for that matter, any other country, then China should very publicly ask that the ill gotten money be frozen and be returned, together with the criminal, to China. Any procedural delay by the host country, especially Western countries, will be viewed very negatively by Chinese citizens. China can turn around this PR disaster into a victory by exposing the host country as a haven for commercial crime criminals from China.
I read through the last 7 or so pages and most discussion were on the scammed victims and how they tried to get their money back from the government. There were just one or two references to the owner absconded with the money to the US.
If that is true, or for that matter, any other country, then China should very publicly ask that the ill gotten money be frozen and be returned, together with the criminal, to China. Any procedural delay by the host country, especially Western countries, will be viewed very negatively by Chinese citizens. China can turn around this PR disaster into a victory by exposing the host country as a haven for commercial crime criminals from China.
But everyone in the world already knows the US is a haven for illegal funds and money laundering.
Just look at Biden's home state Delaware.Any outcry from mainland Chinese would be dismissed. There is a reason why China launched Operation Fox Hunt 8 years ago. And why most of these corrupt fugitives and criminals returned voluntary and broke. It is expensive to hire the best lawyers to keep you from extradition but as long as you have money, the West would be willing to host you.
Lol good luck with that shit from ever happening. The rat f...k who's escaped China into the U.S. will yet become another political refugee escaping the supposed hell hole, no freedom China and all the babling idiots a.k.a. blathering politicians will use this guy to amplify their anti-China crusade.
Most western countries don't see or look at the CPC as a legitimate government plain and simple. So any extradition request would always be looked down or interpreted as the illegitimate state apparatus trying to squeeze a criminals freedom. If the governing authorities would play the decent thing with China, the opposition funded by the blob a.k.a. NED and other American, Indian etc. funded org would crucify that politician, that politicians party until they're diminish and replaced by the defender of freedom.
The greedy bastards want to make money from China, from Chinese people yet despises the government that made the economic miracle and profits for these greedy corporations and countries government which is the CPC. The reason is it wants more, it wants to own China as it tried to do back in the 19th century. To dominate the Chinese is their goal period.