Comments by "May L" (@MeiinUK) on "China’s Local Debt Crisis, 8.18 Trillion USD Debt Balance, 70% Local Governments May Bankrupt" video.

@要命的烦恼 : It actually scares me that, the PRC has THIS much foreign reserves you know. Of other countries... and they aren't being very diplomatic at the moment with this. And shouldn't they use those foreign reserves to actually help their own people ? I don't get why they don't. And even so.. they could grow more food and things like that, but yet, for accuracy reasons, or regulations, they stop their own people from consuming or growing... and live more freely... So sometimes, it is like, the argument goes back round onto itself. "What is the point of anything."
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And that was how the.. those people in Shenzen lost their own actual land deeds etc... Cos of..."developments"... and after so many developments, what is ended up with ? People tried to bump themselves off. People felt cheated. People killed themselves. People live in slums. All in all, to achieve the actual order and goals. Now I get why they do funny accounting. Some people said that, if they moved their entire population from the rural side to the urban side, then the consumption level would increase. i.e. They just bought a house. And wasn't the rural side now, are NOT allowed to have "extra plants" as freebies? i.e. Get rural people to spend money and use money to buy more food, than to eat and grow the extras for free.. so they spend less. Wow... I just finally clicked...
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@blackbelt2000 : Some of those china's regions are debt-free to begin with anyway... Sometimes, they force or allocate debts to regions when those regions have paid off their own debts. So then, for the other regions' elites "not to lose", they either rotate those civil servants, or those elites.. and cause those specific regions to have MORE debts... This is why.. when you see it from the top level down... They're a big mess.... Cos they cannot go wrong. Right ? "Last man standing". Because of these regional competition.. I bet, this is why they demolished their death penalties.. but the jailing thing about corruption.. I mean..indirectly, this is also another form of competition amongst themselves as well.
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Lol... I know.. ! Don't tell my mother ! She used to have to PAY for school when she was a little kid ! And being the eldest as well, she wasn't allowed to go !!! Kids these days ! Have everything, and knows nothing ! Cos they've not been taught ! And WHY do they have a BIG foreign reserve to begin with ?! All those years.. only for the new elites to use a noose on the rest of us. I wish I didn't buy as many chinese made things then in the past 10 years... It's like, you do not stop to think about this as a form of blackmail. Do you ???
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Do you believe that ? Cos it scares me to see that, even regional banks can hold foreign reserves.. This is absolutely crazy ? And then, those "assets" aka properties.. are basically securities. As in, the kind of commercial buildings, which we would classify as in the UK, which takes years to pay off etc. But these individuals buy them, like they buy domestic houses. !fck... no wonder they don't even believe in actual stock market. This is asinine.... Absolutely trash. Like.. I didn't know that is how they operated !!!! Chi sin.... No wonder so many of these individuals, run off.. to foreign countries, and buy those assets, cos they assume that, this is what it is for....
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@TK199999 : LOL.... So the conclusion ? Move to somewhere where that city cannot afford prison guards ? LOL.... (Sorry, I have never seen China from this angle before. This is most amusing.)
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To be honest, it was the West driving those complaints as well.. about China.. so this is their "version of reform" on some levels... I bet some people didn't see this one coming.
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In the past, their exchange rates were around.. like... 1 pound to 15 hk dollars.. and one gold yuan.. equalled to around 3 million yuans fabi. (I think "fabi" means "foreign coin" or foreign exchange or other.) I translated it, and it says it's "fiat"... unsure if this is true. But they used to use silver... and then they added gold. So all of this talk about them "unification", they really mean "economic financial system reunification".... is what I read it as. Cos why else, would they be THIS aggressive ??? "With a history of over 3000 years, Chinese currency existed in both Ancient and Imperial China. In 1914, the Silver Dollar was established as the official currency of the Republic of China, with copper, fen, and nickel coins being added in the 1930s. During this time silver appreciated in value, and China could no longer retain the silver standard. In 1935, a new currency known as Fǎbì, was issued. Introduction of the Gold Yuan and Chinese Yuan Renminbi The Gold Yuan replaced the Fǎbì in 1948 at a rate of 1 Gold Yuan to 3 million Yuan Fǎbì. That same year, the Yuan Renminbi (often called RMB) was introduced as a way to help stabilize the Communist held areas of mainland China. In 1955, a re-evaluation took place and a new Yuan Renminbi was introduced at a rate of 1 new Yuan to 10,000 old Yuan."
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The reality is... they live an okay life. They just don't get why some currency is not in a certain way, or what else is going on, in another area of their country. So... this might be why, they don't see the difference between the 1st tier, 2nd tier.. 3rd, 4th etc. I bet it is related to actual currency exchange rates etc. Which I bet, their own people don't understand either. Or they tried to skip it or something. So China has the gold yuan, and the yuan-RMB. 1 Gold Yuan = 3 million RMB. Basically. To keep people happy, they reconciled, and spread the wealth, into those arguing cities.. the communist areas.. so then, those areas,exchanged into: 1 new Yuan = 10 000 old yuan. So then, people felt rich, cos they just had an actual increase in wealth ! And therefore could buy more ! (In a way, this is like allocating local provincial budgets, isn't it ? So....) I don't know what else happened after that... If they live in a rural area, and yet, they could indeed keep food in their tummy and a roof over their heads. Then does this matter all that much? It shouldn't matter that much. The issue is.. should they use this kind of methods, to raise their own GDPs etc ? The need to figure something else out here. Cos it does not have to mean this way. Not at all.
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@craigkdillon : Because the World Bank opened offices inside the PRC.. that is why they would be blantant enough to treat their own entire country, like that of an actual singular country. When in reality, it should be a cluster of nations. With different needs and different currencies. Instead of doing that, they wanted to reconcile ALL as a single group. On top of this.. they didn't create their own internal structures at all. And they see all of those buildings as an asset to their own financial system. And this is why they hold hostage to other countries..like, they are an extension of their own banking system. Which is ludicrous... This is why PRC is so arrogant.. and had been buying up other countries' resources etc... They have enough resources, AND people AND food to begin with ! It's a lie to say that it isn't so !
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Correct ! lol.... Surprised that people could pick this up. lol...
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