How does the World view China these days?

  On 11/11/2021 at 1:34 AM, auxien said:

https://www.wsj.com/video/series/news-explainers/why-chinas-evergrande-has-global-markets-on-edge/5387B8FA-FFA8-49E2-9399-DC73911837C4

quick easy video for dummies like me to understand a bit of an overview on Evergrande up until before the default today

there was one comment that sorta touched on things but i wasn't seeing much else that helped me  there's probably some good bits on reddit elsewhere tho (biased against /Superstonk anyway)

sorry, pasted it in a hurry, it seemed like a recent thread and I thought it'd get populated with meaningful comments..

ain't no thing man, it's China's fault somehow. 

  On 11/10/2021 at 10:30 PM, auxien said:

huh. something doesn’t track there.

148 million ain’t nothing, don’t get me wrong, but it ain’t that much. odd the Chinese gov isn’t covering these small bits of cash and the other bonds that were going to also/already did default to keep it all afloat, may be a conflict of interest to do so? or may be a calculated move to let Evergrande go bankrupt when they head to court in a few days. 

the whole thing leading to a global financial collapse sounds a bit overblown tho. maybe i just don’t understand the scale of the money involved as a whole/who all the debts will fuck over. just seems weird that basically ever country in the world is in debt to every other country for literally trillions of dollars in some cases, but this one real estate company in China going under because of their debt could fuck over the entire global financial system? seems weird? maybe just sell some Evergrande NFTs mates??? quick and easy money in that yeah?????

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It's not just those three bonds though, Evergrande is defaulting on all of its debt, which is in the hundreds of billions. The problem as I understand it is that a lot of other Chinese developers (scum of the earth - developers in general that is, not specifically Chinese ones) are also way over-leveraged, and won't be able to repay that debt because of some changes the Chinese government made in the ability of those companies to take on new debt.

I agree that the whole global financial collapse sounds overblown - it may be a mini-crisis, but not the end of the world. The US Federal Reserve puts out a stability report and the latest one advises caution:

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Stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States
In China, business and local government debt remain large; the financial sector’s leverage is high, especially at small and medium-sized banks; and real estate valuations are stretched. In this environment, the ongoing regulatory focus on leveraged institutions has the potential to stress some highly indebted corporations, especially in the real estate sector, as exemplified by the recent concerns around China Evergrande Group. Stresses could, in turn, propagate to the Chinese financial system through spillovers to financial firms, a sudden correction of real estate prices, or a reduction in investor risk appetite. Given the size of China’s economy and financial system as well as its extensive trade linkages with the rest of the world, financial stresses in China could strain global financial markets through a deterioration of risk senti-ment, pose risks to global economic growth, and affect the United States.

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https://www.federalreserve.gov/publications/files/financial-stability-report-20211108.pdf

  On 11/11/2021 at 8:35 AM, chenGOD said:

It's not just those three bonds though, Evergrande is defaulting on all of its debt, which is in the hundreds of billions. The problem as I understand it is that a lot of other Chinese developers (scum of the earth - developers in general that is, not specifically Chinese ones) are also way over-leveraged, and won't be able to repay that debt because of some changes the Chinese government made in the ability of those companies to take on new debt.

I agree that the whole global financial collapse sounds overblown - it may be a mini-crisis, but not the end of the world. The US Federal Reserve puts out a stability report and the latest one advises caution:

https://www.federalreserve.gov/publications/files/financial-stability-report-20211108.pdf

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will be interesting to see if Chinese held properties in the west come up for sale to increase liquidity for some chinese people who lose money in china. i know in Vancouver BC there's a lot of homes and apartments that sit empty most of the time because they're investment properties.. many of them owned by chinese people.  i guess it depends how deep the pain goes for some people and if there's any connection in those investments.

  On 11/11/2021 at 6:08 PM, ignatius said:

will be interesting to see if Chinese held properties in the west come up for sale to increase liquidity for some chinese people who lose money in china. i know in Vancouver BC there's a lot of homes and apartments that sit empty most of the time because they're investment properties.. many of them owned by chinese people.  i guess it depends how deep the pain goes for some people and if there's any connection in those investments.

The problem with that (and it's not just limited to Vancouver, all my peeps in Sydney checking in?) is that many of those apartments/condos were bought with capital that had been smuggled out of the country against the capital flight restrictions imposed by the Chinese authorities, or they were bought as part of money laundering schemes. Either way, they're having a hard time to get that money back into China.

What I don't understand is how China didn't learn from the 2008 crisis, where US banks and hedge funds screwed the pooch by betting on wildly over-leveraged assets. How people look at that and don't say, "you know, maybe we shouldn't allow companies to be so wildly in debt they could affect the international economy" is a real fucking trip. That's some pure unregulated capitalism going on right there.

  On 11/11/2021 at 6:40 PM, chenGOD said:

how China didn't learn from the 2008 crisis

to be fair.. USA didn't learn much from the crisis either. credit default swaps are on going in USA just under another name. the only thing that really changed is the loan process and who qualifies etc. they're not doing those shitty loans like they were. the banks are a bit more strict in who can get a loan to buy a house but overall... no new regulations happened and the existing ones only get enforced sometimes. banks and financial institutions are still doing all the same shady shit.

America Against America by Wang Huning.

Here’s a link to a pdf download. 
 

https://dokumen.pub/america-against-america.html

CCP currently has a satellite that can take 3 high res pictures of a 1,470 square-mile area of the united states in 42 seconds and rotate rapidly in orbit without compromising image quality.

https://www.scmp.com/news/china/science/article/3161178/nimble-chinese-satellite-grabs-hi-res-images-us-city-seconds

https://www.insider.com/china-space-race-satellite-high-resolution-san-francisco-in-seconds-2021-12

  On 12/29/2021 at 7:35 PM, Nebraska said:

CCP currently has a satellite that can take 3 high res pictures of a 1,470 square-mile area of the united states in 42 seconds and rotate rapidly in orbit without compromising image quality.

https://www.scmp.com/news/china/science/article/3161178/nimble-chinese-satellite-grabs-hi-res-images-us-city-seconds

https://www.insider.com/china-space-race-satellite-high-resolution-san-francisco-in-seconds-2021-12

waiting for some hooligans to spray paint "CHINA GAY" on a football field large enough for that thing to pick up. just a prank bro. 

Sweden don't want any HUAWEI 5G network in their country. 

HUAWEI's answer: We gonna sue the Swedish government! (Good luck with that LOL)

China really wants to control everything.. Can I sue them for the Covid-19? 
https://www.reuters.com/business/media-telecom/swedish-court-hear-huaweis-case-against-5g-ban-2021-04-20/

its funny that their admission that letting chinese technology into their country gives china outsized power in local affairs is an implicit admission that this is inherent to the form of technology in general and applies to US technology elsewhere in the world too

https://redsails.org/china-has-billionaires/

the american born/raised but on chinese olympic team athlete who won gold in snowboard slopestyle has been posting in IG which people in china can't really do. so someone took her to task over it in the comments of one of her posts.. just saying she's getting special treatment.. she said she uses a VPN and anyone can download a VPN from apple's app store but the reply was "no we can't.. we don't have access to the app store". 

interesting conversations being had due to olympic games i guess. so it goes. 

  On 2/11/2022 at 7:35 PM, ignatius said:

the american born/raised but on chinese olympic team athlete who won gold in snowboard slopestyle has been posting in IG which people in china can't really do. so someone took her to task over it in the comments of one of her posts.. just saying she's getting special treatment.. she said she uses a VPN and anyone can download a VPN from apple's app store but the reply was "no we can't.. we don't have access to the app store". 

interesting conversations being had due to olympic games i guess. so it goes. 

of course they can use vpns.  why would chinese people want to use the garbage western internet in a language they mostly dont even speak?  let's see how western social media would react to a barrage of a billion chinese communists being enabled to post on the western internet

let me take a guess:

scrambling to implement "if(content.characterSet()==LOCALE_MANDARIN){block();}"

of course china is going to protect its citizens from western spyware/malware

  On 2/12/2022 at 1:09 AM, ilqx hermolia xpli said:

of course they can use vpns.  why would chinese people want to use the garbage western internet in a language they mostly dont even speak?  let's see how western social media would react to a barrage of a billion chinese communists being enabled to post on the western internet

let me take a guess:

scrambling to implement "if(content.characterSet()==LOCALE_MANDARIN){block();}"

of course china is going to protect its citizens from western spyware/malware

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i only posted a paraphrase of the conversation about the story. not arguing one way or another. just saying "this is what happened" 

but, i don't think the internet dome that china enforces is to protect chinese citizens from malware. it's obvious they're blocking sites and stories so they can control the narrative and perception of chinese people when it comes to what is happening in the world. i know it's not all black and white and w/o nuance etc but it's kinda laughable to think it's all about malware and spyware. 

  On 2/12/2022 at 2:08 AM, ignatius said:

i only posted a paraphrase of the conversation about the story. not arguing one way or another. just saying "this is what happened" 

but, i don't think the internet dome that china enforces is to protect chinese citizens from malware. it's obvious they're blocking sites and stories so they can control the narrative and perception of chinese people when it comes to what is happening in the world. i know it's not all black and white and w/o nuance etc but it's kinda laughable to think it's all about malware and spyware. 

of course, i think its quite clear china also wants to protect them from western propaganda to maintain their firm support of the CPC

  On 2/12/2022 at 2:20 AM, ilqx hermolia xpli said:

of course, i think its quite clear china also wants to protect them from western propaganda to maintain their firm support of the CPC

they censor as a matter of routine. not just outside but inside as well. there's plenty of journalists and random citizens who post a thing on line then get arrested. so, it's more than just 'propaganda' and keeping chinese people from being 'corrupted'. they're censoring their own people as well and limiting communication when it makes them look bad or is perceived as anything at all negative. 

and by saying that i'm not saying that USA media isn't manipulative or full of bullshit etc but the freedom of speech isn't comparable. also, we know USA gov't sucks. this doesn't mean china gov't is awesome. they can both suck. both things can be true. it's possible that no one is winning. 

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Last Monday, China’s major streamers removed the vast majority of Reeves’ filmography from their sites and wiped search results related to his name in Chinese — the cumbersome transliteration “Jinu Liweisi.”

https://www.latimes.com/entertainment-arts/business/story/2022-03-24/china-streamers-scrub-keanu-reeves-titles-over-his-support-for-tibet

So what happened here?

^

  On 10/22/2022 at 4:38 PM, Rubin Farr said:

So what happened here?

 

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That guy got thrown into the giant fire pit jinping keeps in his basement.

>dude has to leave event

>western media:

>"incredible scenes"

>"what is happening"
>"at what cost"

the poverty of private capitalist owned media.  where's the "incredible scene" when joe biden said he'd veto medicare for all if it was signed by congress on his desk, that actually matters?

china derangement syndrome.  signs of late stage empire in decay

things are seemingly starting to get interesting over there: Protests after an Urumqi apartment fire test China’s zero-Covid strategy - Vox

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As William Hurst, a professor of Chinese development at Cambridge University, wrote on Twitter, “What’s happened in the past 24 hours is novel in that protesters have appeared on the streets in multiple cities with apparent knowledge of what is happening in other parts of the country. They’re all mobilising around #Covid, but this is refracted through distinct lenses,” whether that’s labor, local governance, student protests, rural protests, or systematic political dissent, as he put it.

“This is a broad sweeping program, and it’s hitting across all levels of Chinese society,” University of Manchester professor David Stroup told Vox.

In some places, protesters are not just calling for an end to the Covid-19 protocols, but for the institution of democracy and for a free press — something nearly unheard of in recent decades. Some are even demanding an end to Xi’s tenure and the end of the Chinese Communist Party. That’s not totally without precedent in the history of the Communist party; massive pro-liberalization and pro-democracy protests occurred around the country in the spring of 1989, manifesting in the historic student demonstrations around Tiananmen Square.

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the article goes on to talk about how it's probably going to go nowhere and Xi and the state are making some changes to try and keep things in order...but the last 10-15 years of uprisings of citizens in repressive/restrictive states has shown things may track differently than expected.