A more correct headline:
How China has 'throttled' its VULTURE CAPITAL FINANCED private sector.
Not to mention, IT JUZI numbers are 'problematic' in the first place (and also not completely up to date).
(Look up some threads glennluk did on IT JUZI)
Chinese Economics Thread
- Thread starter Norfolk
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How China has 'throttled' its VULTURE CAPITAL FINANCED private sector.
Not to mention, IT JUZI numbers are 'problematic' in the first place (and also not completely up to date).
(Look up some threads glennluk did on IT JUZI)
I just want to thank all those George soros types who got margin called on their shorts against SMIC. If this keeps up, I might be able to use the profit proceeds to become a landlord in America and bully the tenants until they accept Maoist communism.
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The problem with Chinese startups is that they were behaving like American startups, meaning grow first make money later. There were a lot of very questionable things happening like in the space of bike sharing and food delivery that doesn't add much value to the economy and because of the high competitive environment they had to drop prices to rock bottom in order to compete. So they were also losing money as well. So the gov stepped in and put a end to these practises throught new regulations. And it did put a end to those types of "food fights". But the problem is that the good high tech startups became collateral damage in the process.
The government is aware of this situation and is now taking measures trying to rectify this.
