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Thread: China thread

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    Default China thread

    It seems im the only person on sharetrader holding China accountable for Coronavirus... no one is even questioning communist party actions in Hong Kong, Taiwan, South China Sea, India and so on...
    China is exerting its power and Earth is fighting back... but here on sharetrader they are only anti Trump above all else even if it means going to bed with the red dragon...
    Its totally unbelieveable that all these posters would choose China over Trump... never doubting any news from the CCP
    ....
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    Anyway,
    Worrying signs quietly coming out of China over the last couple of weeks that the Chinese economy and its banks are starting to fail with its counterfeit culture and fake demand creation to blame...

    Bank collapse rumors sparked a run on banks by citizens have now led to government restrictions on withdraws as banks unable to pay back customers.... A 2 year pilot programme requiring approval to withdraw your own money is in place...
    A huge surge in bad debt... a 40 trillion dollar banking system under strain from an artifical real estate boom that went bust and a number of companies defaulting on loans...
    ...
    Another big scandal Chinese company Kingold borrowed $2.8billion US dollars using gold as collateral... when the loans were unable to be repaid Shadow banks claimed the gold... instead what they found was guilded copper... this sent shockwaves in the shadowbank industry and shadowbanks known in China as trusts collapsed... the shadowbank industry reported to be worth 3-5 trillion us dollars...

    Chinas domestic debt is 317% of GDP on the books... but how much is off the books?
    586 banks and financing firms classified by authorities as high risk (13% of banking sector)...
    China debt increased 4 times in 10 years...
    4 state banks control the financing system and directly control 50% of all loans of which is riddled with corruption...

    Half of Chinas listed consumer companies say they dont have enough cash to survive another 6 months
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    Interesting and scary times ahead as Coronavirus is gaining more momentum and most countries have a 2nd wave of infections... Corona has unearthed Chinas systemic problems....
    Many countries are pulling manufactoring out of China now and a huge stand is starting to take place over China... ... interesting times ahead...

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    Key reason of so much anti-Trump rhetoric? Because they listen to mainstream media too much. Also NZ in general is pro-saving the world and climate change which generally you would have voters that side on the left / socialist spectrum.

    Not a big fan of China but the problem won't be fixed easily. They're still the lowest cost producing nation in the world for many things and by NZ consumption, they'll still buy made in China. Trade will still continue.

    The shift against China production is monumental feat on similar lines of fixing climate change. In COVID times, consumers don't have the disposable income like before which means to address world / economic problems, this requires a massive increase in cost (ie. carbon tax which elevates the price of goods). Would western nations impose high tariffs against China imports? Very unlikely (the US is the only one that addressed this issue).

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    Quote Originally Posted by SBQ View Post

    <snip>

    The shift against China production is monumental feat on similar lines of fixing climate change. In COVID times, consumers don't have the disposable income like before which means to address world / economic problems, this requires a massive increase in cost (ie. carbon tax which elevates the price of goods). Would western nations impose high tariffs against China imports? Very unlikely (the US is the only one that addressed this issue).
    The movement of the world's manufacturing capacity to China was great for consumers - cheaper products and lower CPI.

    The movement of the world's manufacturing capacity to China was great for the manufacturers who migrated to China - lower costs and higher margins.

    The movement of the world's manufacturing capacity to China was great for investors - higher profits.

    The movement of the world's manufacturing capacity to China was great for the Chinese - lots of jobs with all the attendant economic consequences.

    None of those things required a "monumental feat on similar lines of fixing climate change". So why then should a return to domestic manufacturing require such an effort?

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    Price is foremost in the consumers mind, not patriotism, despite what the masses claim. Everyone wants quality and things to be manufactured in their own country, until they have to pay for it.

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    Quote Originally Posted by Zaphod View Post
    Price is foremost in the consumers mind, not patriotism, despite what the masses claim. Everyone wants quality and things to be manufactured in their own country, until they have to pay for it.
    and on a similar note, "Everyone wants affordable housing, lower house prices across the board for the 1st time home buyers and all..... until they go sell their own home"

    None of those things required a "monumental feat on similar lines of fixing climate change". So why then should a return to domestic manufacturing require such an effort?
    Because the movement of manufacturing to China was a bait. Now in recent years, China has not played by the rules - theft of IP, spying, boasting their powers in the S. China Sea, ignoring the 50 year rule of Hong Kong by imposing mainland laws. How long does the rest of the world need to tolerate China's behaviour?

    You are aware there still remains a large portion of China's population that have been left behind, such as the rural places where people still live in leaking huts and unsanitary conditions.

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    Wow Chinese consulate ordered to leave Houston in 72 hours....

    https://www.google.com/amp/s/www.nyt...ulate.amp.html

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    Still no clear information as to why, however previous administrations have alluded to consulates being used as spy bases for foreign powers.

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    China responds to shutting of Houston Consulate...

    https://www.google.com/amp/s/amp.ft....0-2ee24f636f13

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    Quote Originally Posted by Crypto Crude View Post
    China responds to shutting of Houston Consulate...

    https://www.google.com/amp/s/amp.ft....0-2ee24f636f13
    driven by a president desperately distracting and diverting attention from his dismal performance. It’ll all calm down after the election.

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    Quote Originally Posted by Crypto Crude View Post
    "The former British colony was handed back to China in 1997 on the basis of it maintaining autonomy under what was termed a " one country, two systems" framework."

    As I mentioned before, the deal back in 1997 was to keep HK autonomous for up to 50 years. Sooner or later, China will have no friends if they don't know how to keep a deal. It's so bad that even Trump can recognise China can't keep a deal.

    But who are we to say? In the eyes of Chinese expats, 'China can do no wrong'

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