China in doldrums after Xi fiasco: China's finance giant MISSES payments

[Menthol]

Actually, what happened in China today is the effect of bubble burst in the real estate market.

Chinese government took early measurement to pop the bubble before it gets bigger.

But still a bubble is a bubble.

General Tso's chicken?

No, it's Xiao Long Bao.

 

[Hephaestus]

Xi's rule, a miracle in the human history,

View attachment 946104

 

[beijingwalker]

b

But I didn't. See the difference?
Constantly defending CCP's disastrous agenda has made it difficult for you to distinguish real and unreal

You Indian media is the world biggest liar, like to know what China really is? lots of Indians are now living or traveling in China, check out their youtube videos to find out what China really is and how they found out media lie about China.

 

[Nan Yang]

what will china do with 1000s of empty skyscrapers especially with declining population. Only time will tell.

Errr. Maybe you do not know.
But China is in the process of urbanizing 300,000 people.

That's more than the entire population of United States.

 

[etylo]

that makes sense but the usual chinese cybermice haven't shown up to say that yet. perhaps awaiting instructions . or they're busy checking if they

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

Only stupid Indians always slander whatever Chinese do, go drink more disgusting Ganges water to keep your delusions.

 

[Skull and Bones]

Errr. Maybe you do not know.
But China is in the process of urbanizing 300,000 people.

That's more than the entire population of United States.

Are you missing few zeroes or are you that pathetic with numbers?

 

[mike2000 is back]

Well, Xi jinping has his faults but also efficient side(like trying to stamp out corruption within the party and streamlining Chinese government bureacracy by centralising the government decision making etc).
However, i think his biggest blunder was the zero covid policy. It made foreign companies who had been invested completely in China for decades to rethink their strategy of relying on one country only(irrespective of geo politics) since Xi Jinping's prolonged lockdowns of Chinese cities and factories disrupted supply chains for foriegn companies globally, hence they realised the risk of relying on China alone. Hence had to rethink their China strategy(hence China +1 policy we have today). This will be a permanent thing unfortunately for China.
That's not counting the massive amount of Chinese small private businesses which got wiped out of business due to his prolonged lockdowns and disruptions of their businesses for 3 long years. Many didn't survive and had to shutdown. Unfortunately as if it wasn't bad timing enough that he went after big private Chinese tech companies who had been the bright spot for China this past decade (almost matching their american counterparts in valuations and reach globally) leading to them curtailing their operations, halting employment and even laying off staffs/stopping expansion due to the government crackdown. All this happened at a very wrong time. No wonder things are not looking as good as they should have been.
I don't know who his advisors were this past years.

 

[beijingwalker]

Well, Xi jinping has his faults but also efficient side(like trying to stamp out corruption within the party and streamlining Chinese government bureacracy by centralising the government decision making etc).
However, i think his biggest blunder was the zero covid policy. It made foreign companies who had been invested completely in China for decades to rethink their strategy of relying on one country only(irrespective of geo politics) since Xi Jinping's prolonged lockdowns of Chinese cities and factories disruptive supply chains for foriegn companies globally, hence they realised the risk of relying on China alone. Hence had to rethink their China strategy(hence China +1 policy we have today). This will be a permanent thing unfortunately for China.
That's not counting the massive amount of Chinese small private businesses which got wiped out of business due to his prolonged lockdowns and disruptions of their businesses for 3years. Many didn't survive and had to shutdown. Unfortunately as if it wasn't bad timing enough that he went after big private Chinese tech companies who had been the bright spot for China this past decade (almost matching their american counterparts in valuations and reach globally) leading to them curtailing their opérations, halting employment and even latine off staffs due to the government crackdown. All this happened at a very wrong time. No wonder things are not looking as good as they should have been..
I dont know who his advisors were this past years.

Pretty fair points in the post. The 双减 policy, cracking down on foreigners working status and tutorings badly hurt my business and we still struggle to recover.

 

[beijingwalker]

I dont know who his advisors were this past years.

Xi listens to a group of elite medical experts and advisors who became overconfidenct due to theie initial success in lockdowns and gravely misjudged the future trend. Xi knows little in that field and totally follows those advisors.

 

[beijingwalker]

No, it affects more Chinese people, not foreigners. In fact, if Xi's policy affects your business, it means your company only focuses on teaching foreign languages and not other subjects. And you are trying to prove that tutoring and tutoring in China is limited to English only. It was a mistake

In addition, the pro-foreign trend in China's policy remains unchanged. Xi is definitely the initiator of this and Xi doesn't care about its consequences.

View attachment 946255

Look what some universities in China do. Certainly Xi and other Chinese leaders know this, but they don't care, because the victim is not their daughter.

I got sevreal fiends from US, Canada, Australia being deported for illegal working in China last year alone, believe me, Now China is becoming much more harsher to foreigners, one officer in private just bluntly told me that the new rules in nature are to kick out all foreigners in China and ask me to quit any businesses involving foreigners ASAP.

 

[jhungary]

what is "shadow bank industry" ?

You want the economical definition or the definition as per the article?

Shadow Banking Industry is anything that deal with finance and banking that does not own a banking license, kind of like how your local supermarket can offer you credit card or insurance when your local Safeway does not have a banking license.

Shadow Banking System: Definition, Examples, and How It Works

The shadow banking system refers to financial intermediaries that fall outside the realm of traditional banking regulations.

www.investopedia.com

This type of business is high risk because it does not have the protection of regular banking and do not necessarily follow banking licensing rules, they are mostly highly irregulated and if this become a problem it would have a serious and lasting damage to a country economy and financial sectors, just look at how 2nd mortgage bring in the 2008 financial crisis in the US as an example.

 

[jhungary]

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

Actually, China "eliminated" poverty by moving the poverty line lower, notice that the Chinese count their poverty line by PPP instead of GNI medium. Long story short, the reported poverty line for China as per Chinese government is at $2.6 a day. While world bank put the number to be $5.5 a day using GNI per capita instead of PPP. Nobody in the world uses PPP per capita to measure poverty, because $1 earn is not $1 in PPP term......

 

[GreatHanWarrior]

fuvking Xi jinping!!!
fuvking Peng liyuan!!!
fuvking xi mingze!!!

Actually, China "eliminated" poverty by moving the poverty line lower, notice that the Chinese count their poverty line by PPP instead of GNI medium. Long story short, the reported poverty line for China as per Chinese government is at $2.6 a day. While world bank put the number to be $5.5 a day using GNI per capita instead of PPP. Nobody in the world uses PPP per capita to measure poverty, because $1 earn is not $1 in PPP term......

But. But. Xi gives 29000 yuan per month to each black man international student.

fuvking Xi Blackping!

that makes sense but the usual chinese cybermice haven't shown up to say that yet. perhaps awaiting instructions . or they're busy checking if they

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

Xi jinping in India.

 

[jhungary]

Actually, what happened in China today is the effect of bubble burst in the real estate market.

Chinese government took early measurement to pop the bubble before it gets bigger.

But still a bubble is a bubble.



No, it's Xiao Long Bao.

Actually, not just that, the debt problem and the traditional saving habit also put stress on Chinese economy. That's the direct contribution to the Chinese National debt to GDP ratio.

I can write a whole paragraph on how or what causes that, but in a TL;DR version, China borrowed too much money during the industrialisation and instead of putting those investment in a money generating scheme (ie fintech or banking industry, and I know It sounded like its a scam), China put the investment in the lowest return investment as possible. Which is they started using those loan to build infrastructure, so roads, airport, properties and etc.

The problem is, this is a sinkhole for cash and the longer it gets into deeper debt because infrastructure are not liquid asset. You cannot turn an airport into cash overnight. And now that price now is in a breaking point, and China does not have a good lending/banking system to back that up (Bear in mind China international credit rating is only A-, compared to US AA+ which literally have more debt and more Debt to GDP ratio) and AAA+ to most European countries.

That is the gist of the problem.

 

[VkdIndian]

Nobody in the world uses PPP per capita to measure poverty, because $1 earn is not $1 in PPP term......

Emperor Xi can decide anything and make that a new norm.