Comments by "D W" (@DW-op7ly) on "CNBC International Live"
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Why do you Americans always say the same thing
My reply is their debt is mostly internal debt
You will reply debt is debt
I will reply there is a big difference between internal debt and external debt
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Difference Between Internal Debt and External Debt!
The basic character of an internal debt is quite different from that of the external debt. In external debt, at the time of repayment there is a real transfer of resources.
In case of internal debt, however, since it is borrowed from individuals and institutions within the country repayment will constitute only a re-distribution of resources without causing any change in the total resources of the community.
There can, thus, be no direct money burden caused by internal debts since all payments cancel each other out in the aggregate community as a whole. Whatever is taxed from one section of the community servicing the debts is distributed among the bond-holders by way of repayment of loans and interest; and quite often, the tax-payer and the bond-holder may be the same person.
At the most, to the extent that the incomes of tax-payers (in a sense, debtors) are reduced, so will the incomes of creditors/ bond-holders increase, but the aggregate position of the community will, nevertheless, remain the same.
However, internal debt may involve a direct real burden on the community according to the nature of the series of transfer of incomes from tax payers to the public creditors. To the extent the tax-payers and the bond-holders are the same, the distribution of wealth will remain unaltered; hence there will not be any net real burden on the community.
Yourarticlelibrary
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The Commie invasion of Vietnam was never about colonization of Vietnam and you know it
👇
Sino-Vietnamese conflicts (1979–1991)
When the Chinese People's Liberation Army (PLA) withdrew from Vietnam in March 1979 after the war, China announced that they were not ambitious for "any square inch of the territory of Vietnam".[3] However, Chinese troops occupied an area of 60 square kilometres (23 sq mi), which was disputed land controlled by Vietnam before hostilities broke out.[4] In some places such as the area around Friendship Gate near the city of Lạng Sơn, Chinese troops occupied territories which had little military value but important symbolic value. Elsewhere, Chinese troops occupied the strategic positions of military importance as springboards to attack Vietnam.[5]
The Chinese occupation of border territory angered Vietnam, and this ushered in a series of border conflicts between Vietnam and China to gain control of the area. These conflicts continued until 1988, peaking in the years 1984–1985.[6] By the early 1990s, along with the withdrawal of Vietnam from Cambodia and the dissolution of the Soviet Union, the relationship between the two countries gradually returned to normality. By 1991, the two countries proclaimed the normalization of their diplomatic relations, thereby ending the border conflicts.
Wikipedia
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Yes local Governments for example could start charging property taxes
The smart people would have moved already
Still a lot better than western countries sticking that debt into their Sovereign external debt.
Even then take the US Internal debt at 300 trillion. Where they have already borrowed 34 trillion externally
At least the Chinese could go borrow externally if all else fails
The USA is where people should be worried if it’s about debt
👇
China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus
China has a history of taking debt off its books and burying it, which should prompt us to poke and prod its numbers. If we go back to the last time China cooked the national books big time, during the Asian currency crisis of 1997, we can get an idea of where its debt might be hidden now.
The majority of bank loans, says Jubak, went to state-owned companies -- about 70% of the total. The collapse of China's export trade following the crisis meant that its banks were suddenly sitting on billions in debts that were clearly never going to be paid. But that was when China's largest banks were trying to raise capital by selling stock in Hong Kong and New York, and no bank could go public with that much bad debt on its books.
The creative solution? The Beijing government set up special-purpose asset management companies for the four largest state-owned banks, the equivalent of the "special purpose vehicles" designed by Wall Street to funnel real estate loans off U.S. bank books. The Chinese entities ultimately bought $287 billion in bad loans from state-owned banks. To pay for the loans, they issued bonds to the banks, on which they paid interest. The state-owned banks thus got $287 billion in toxic debt off their books and turned the bad loans into an income stream from the bonds.
Sound familiar? Wall Street did the same thing in the 2008 bailout, with the U.S. government underwriting the deal. The difference was that China's largest banks were owned by the government, so the government rather than a private banking cartel got the benefit of the arrangement. According to British economist Samah El-Shahat, writing in Al Jazeera in August 2009:
China hasn't allowed its banking sector to become so powerful, so influential, and so big that it can call the shots or highjack the bailout. In simple terms, the government preferred to answer to its people and put their interests first before that of any vested interest or group. And that is why Chinese banks are lending to the people and their businesses in record numbers.
In the US and UK, by contrast:
banks have captured all the money from the taxpayers and the cheap money from quantitative easing from central banks. They are using it to shore up, and clean up their balance sheets rather than lend it to the people. The money has been hijacked by the banks, and our governments are doing absolutely nothing about that. In fact, they have been complicit in allowing this to happen
HuffPost
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Yes local Governments for example could start charging property taxes
The smart people would have moved already
Still a lot better than western countries sticking that debt into their Sovereign external debt.
Even then take the US Internal debt at 300 trillion. Where they have already borrowed 34 trillion externally
At least the Chinese could go borrow externally if all else fails
The USA is where people should be worried if it’s about debt
👇
China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus
China has a history of taking debt off its books and burying it, which should prompt us to poke and prod its numbers. If we go back to the last time China cooked the national books big time, during the Asian currency crisis of 1997, we can get an idea of where its debt might be hidden now.
The majority of bank loans, says Jubak, went to state-owned companies -- about 70% of the total. The collapse of China's export trade following the crisis meant that its banks were suddenly sitting on billions in debts that were clearly never going to be paid. But that was when China's largest banks were trying to raise capital by selling stock in Hong Kong and New York, and no bank could go public with that much bad debt on its books.
The creative solution? The Beijing government set up special-purpose asset management companies for the four largest state-owned banks, the equivalent of the "special purpose vehicles" designed by Wall Street to funnel real estate loans off U.S. bank books. The Chinese entities ultimately bought $287 billion in bad loans from state-owned banks. To pay for the loans, they issued bonds to the banks, on which they paid interest. The state-owned banks thus got $287 billion in toxic debt off their books and turned the bad loans into an income stream from the bonds.
Sound familiar? Wall Street did the same thing in the 2008 bailout, with the U.S. government underwriting the deal. The difference was that China's largest banks were owned by the government, so the government rather than a private banking cartel got the benefit of the arrangement. According to British economist Samah El-Shahat, writing in Al Jazeera in August 2009:
China hasn't allowed its banking sector to become so powerful, so influential, and so big that it can call the shots or highjack the bailout. In simple terms, the government preferred to answer to its people and put their interests first before that of any vested interest or group. And that is why Chinese banks are lending to the people and their businesses in record numbers.
In the US and UK, by contrast:
banks have captured all the money from the taxpayers and the cheap money from quantitative easing from central banks. They are using it to shore up, and clean up their balance sheets rather than lend it to the people. The money has been hijacked by the banks, and our governments are doing absolutely nothing about that. In fact, they have been complicit in allowing this to happen
HuffPost
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China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus
* China has a history of taking debt off its books and burying it, which should prompt us to poke and prod its numbers. If we go back to the last time China cooked the national books big time, during the Asian currency crisis of 1997, we can get an idea of where its debt might be hidden now.
The majority of bank loans, says Jubak, went to state-owned companies -- about 70% of the total. The collapse of China's export trade following the crisis meant that its banks were suddenly sitting on billions in debts that were clearly never going to be paid. But that was when China's largest banks were trying to raise capital by selling stock in Hong Kong and New York, and no bank could go public with that much bad debt on its books.
The creative solution? The Beijing government set up special-purpose asset management companies for the four largest state-owned banks, the equivalent of the "special purpose vehicles" designed by Wall Street to funnel real estate loans off U.S. bank books.
* Sound familiar? Wall Street did the same thing in the 2008 bailout, with the U.S. government underwriting the deal. The difference was that China's largest banks were owned by the government, so the government rather than a private banking cartel got the benefit of the arrangement. According to British economist Samah El-Shahat, writing in Al Jazeera in August 2009:
China hasn't allowed its banking sector to become so powerful, so influential, and so big that it can call the shots or highjack the bailout. In simple terms, the government preferred to answer to its people and put their interests first before that of any vested interest or group. And that is why Chinese banks are lending to the people and their businesses in record numbers.
In the US and UK, by contrast:
banks have captured all the money from the taxpayers and the cheap money from quantitative easing from central banks. They are using it to shore up, and clean up their balance sheets rather than lend it to the people. The money has been hijacked by the banks, and our governments are doing absolutely nothing about that. In fact, they have been complicit in allowing this to happen.
HuffPost
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@qwertyuiop2994
The real problem is for years we complained China was the number 1 polluter in the world
Now that they are investing into green, clean, renewable
The complaint is subsidies and overcapacity 🙄🙄🙄🙄
👇
JANUARY 30, 2023
3 MIN READ
China Invests $546 Billion in Clean Energy, Far Surpassing the U.S.
China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing
Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF.
The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries.
Scientific American
👇
Analysis: Clean energy was top driver of China’s economic growth in 2023
Other key findings of the analysis include:
Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.
China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.
Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.
Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.
Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0%
CarbonBrief
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👇
Fossil Fuel Subsidies Surged to Record $7 Trillion
Scaling back subsidies would reduce air pollution, generate revenue, and make a major contribution to slowing climate change
IMF
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@tooltalk
What most people don’t get?
Is yes in “most” cases when you go to China to sell into their domestic markets you have to take a Joint Venture (JV) partner
But in “most” cases when you go to China to open up a factory, and export those goods back to your own country
/the EU
you don’t have to take on a JV partner
It is mostly your own European multinationals making the lions share of the profits (who stocks are listed on your stock exchanges and in your own European stock portfolios and Pension funds)
They are the ones sending you those goods and services, inflating that trade deficit you have with China
Not only that, these multinational companies derive a huge amount of profits.
While based in China selling to Chinese domestic consumers
We are just lucky they don’t just boot these foreign companies, as they don’t believe in zero-sum game type of thinking
👇
Europe's listed firms expect to glean $514 billion in revenue from China
LONDON (Reuters) - European listed firms expect to receive 449 billion euros (£392 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows.
The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools.
Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW, derived the biggest chunk of revenues from China - with a total of 120 billion euros sales from the country, the analysis based on companies' estimates of their 2019 revenue shows.
Reuters
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Chinese EVs are not even in the USA not sure what you are babbling about
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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@TeeHee-vo1bn
What most people don’t get?
Is yes in “most” cases when you go to China to sell into their domestic markets you have to take a Joint Venture (JV) partner
And in “most” cases when you go to China to open up a factory, and export those goods back to your country you don’t have to take on a JV partner
These days ?????
What most people don’t get?
Is it is US multinationals making the lion share of those profits inflating the trade deficit between China to the USA
Where Chinese companies mostly trade with their Belt and Road country partners these days
These US multinationals are the ones sending you that junk
These US multinationals are still using the same highly polluting labour intensive factories formula.
As they were using more and more illegal labour in their Chinese factories, smuggled in from South East Asia.
Or more and more automation in their wholly owned factories in China these days
These are the same companies who got those trump Corporate tax cuts you for sure cheered about
Same companies based in China who derived 392 billion in sales into the Chinese domestic markets in 2018 when trump started his trade war
Same companies averaging 20% to 40% of their earnings from China whose high flying stocks are in your 401k/Pensions
Same companies who the American farmer and consumer were sacrificed. So the USA could try and get “more” or “better” access for the US multinationals, into those Chinese Domestic markets during the trade war
Same companies whose HQ is in a North American city you can easily go stand outside and protest at….
Why didn’t China pull the nuclear trade option and boot these US companies you might ask?
They don’t believe in a zero sum game type of thinking
As I can show you during the trade war.
China didn’t pull out their big trade weapons, in fact they were lowering tariffs to most countries not raising them
👇
Trump’s ‘trade war’ with China won’t be so easy to win
Having learned these value chain lessons, Beijing has worked hard to bring more of the high-value-adding parts of value chains into China, and to build hi-tech industries in which it can establish a globally competitive position.
China has successfully done this in areas like high-speed trains (CRRC), digital telecoms networks (Huawei), drones (DJI) and hi-tech batteries (BYD).
Trump’s team is not wrong to be worried about China’s competitive emergence here, and to target these new-tech sectors in the latest trade war sortie.
But here’s the problem: China exports almost none of these new-tech products to the US, making US tariff threats meaningless. Rather, they go to developing economy markets – many embraced by the Belt and Road initiative – where China has succeeded in building a hi-tech, high-value brand reputation.
As Trump’s team will quickly learn, the challenge of finding China’s pain points is bigger than expected: for a decade China’s priority has been to base growth on the domestic consumer economy and reduce reliance on the low-value-adding export processing industries (many of which are US- or Hong Kong-owned and concentrated in the Pearl River Delta)
SCMP
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Huge Price Cuts Rumored From Chinese Developers Due To Collapsing Demand
Vincent Fernando, CFA May 29, 2010
Demand is falling since China's central government announced stricter regulations for property transactions during the middle of April. These involve higher down payments and mortgage rates for the purchase of second home, and act which is seen as potential speculation. Such tightening is reducing buying demand.
Thus a moderately bearish view is that property prices need to come down, since demand is likely down yet supply is the same. This challenge isn't limited to Shanghai:
China Vanke Co, the country's largest publicly listed developer, may cut apartment prices by 10 to 30 percent within three months, the Beijing News said yesterday, citing an unidentified sales agent. Local Vanke officials declined to comment yesterday.
Yet Shanghai is where things could get the ugliest, the earliest. This is because the local Shanghai government is planning to clamp down on speculation even harder than China's central government already has:
Chen Qiwei, a spokesman for the Shanghai municipal government, did not preclude the possibility of levying property tax when asked about this issue at a press conference on Friday.
"Shanghai will take more strict measures in line with the central government policy," Chen said, adding that more efforts will be made in building economically affordable houses and cracking down on speculative house purchasing.
Other cities such as Beijing, Chongqing, and Shenzen could have similar additional taxes, but Shanghai is the first to make an official comment such as above according to China Daily. Thing is, any action from Shanghai will likely need approval from the central government.
BusinessInsider
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Business
Economics
China Increases Banks’ Reserve Ratios to Cool Prices
By Bloomberg News
December 10, 2010 at 4:08 AM PST
👇
China raises banks' reserve ratios again
Reuters
December 10, 20104:27 AM PSTUpdated 13 years ago
Dec 10, 2010 — The 50 basis point increase, which takes effect on Dec 20, will leave required reserve ratios at 18.5 percent
👇
China Property Market ‘Bubble’ Set to Burst, Xie Says
By Bloomberg News
February 1, 2010 at 11:51 PM PST
China’s property market “bubble” is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.
👇
China cracks down on speculators to cool prices
BY THE ASSOCIATED PRESS
NOV. 23, 2010
The government has ordered banks twice in the past three weeks to raise the amount of money they hold in reserves to rein in lending growth.
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China cracks down on property speculation Source:Global Times Published: 2010
The Chinese government has raised the down payment for second-home buyers to a minimum 50 percent of the value from 40 percent, in a bid to curb property speculation.
The decision was announced in a statement released Thursday after conclusion of an executive meeting of the State Council, the Cabinet, presided over by Premier Wen Jiabao, on Wednesday.
First-home buyers must pay no less than 30 percent of the the property price if the area is above 90 square meters, the statement said.
The government was stepping up the introduction of tax policies to influence purchases and adjust property investment returns, said the statement.
Nationwide, land use for the construction of low-income housing, shanty town renovation and small and medium-sized homes (below 90 square meters) should account for at least 70 percent of the land approved for property development, the statement said.
It also urged local authorities to accelerate housing construction approvals to ensure effective land supply, and crack down on land hoarding and speculatory behavior.
👇
China attempts to deflate its unstable property bubble
China is to spend $200bn on low-cost homes as part of a series of measures to slow the rapidly rising prices of urban houses
Tania Branigan in Beijing
Wed 9 Mar 2011 19.24 GMT
Chinese officials are blaming speculators for soaring property prices and are vowing to build 36m affordable homes over the next five years. There are already widespread concerns about China's booming property market and the threat it poses to the country's expanding economy.
China would spend nearly $200bn (£123bn) on an affordable homes and social housing scheme, said deputy housing minister Qi Ji in Beijing .
The pledge came a few days after premier Wen Jiabao promised to "resolutely" curb speculation to tackle excessively rapid price increases
The authorities have taken various steps since spring last year to dampen the property market. These include raising interest rates, increasing the minimum downpayment required on second homes and restricting the rights of foreigners to buy property. Two Chinese cities are now imposing sales tax on property deals.
While the measures have slowed growth, many fear it remains too high. In March 2010, urban housing prices shot up by 11.7% year-on-year, according to figures from the national bureau of statistics. December saw the lowest increase in more than a year, but it still stood at 6.4%.
The Guardian
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
1
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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These is now a 27 book series on what China invented that says we copied from them
Yet You Indians always cry how the Brits stole from you
👇
Why was China erased from Western memory
The remarkable history of Chinese invention - Why was China erased from Western memory?
Article by 龙信明
Introduction
Joseph Needham was an English medical doctor and biologist, teaching in England in the 1930s. By an accident of fate he acquired some Chinese students, and was intrigued to hear their claims of so many medical and scientific discoveries having originated in China, rather than in the West.
Needham became fully fluent in Chinese, and eventually moved to China in 1942 to investigate these claims and to research the entire history of Chinese invention. That work led to an astonishing voyage of historical discovery.
Needham originally planned to write a book cataloguing Chinese inventions, but his first volume barely scratched the surface of his subject. He slowly gatherred many of his students into this enterprise, and they eventually wrote a collection of 26 books, to catalog the history of Chinese discovery.
Myth and Misrepresentation
It leaves one speechless to learn the vast extent of things invented by the Chinese many hundreds of years, and often several millennia, before they appeared in the West.
All the myths about China and the Chinese being good at 'memorising and passing exams', but being unable to think independently or to be imaginative and creative, are just that - myths. Those stories were never true, not then and not now.
This isn't a simple matter of gunpowder and fireworks, but encompasses the entire range of human knowledge from endocrinoloy to mathematics, from agriculture to astronomy.
How could such facts have been hidden from the entire Western world for so long? And why were they withheld?
Needham made his discoveries in the 1940s, but our Western education has never made reference to them, never acknowledged them.
We Westerners were taught that virtually all inventions and discoveries arose in Europe but, thanks to Joseph Needham, we have clear documentation proving they existed in China often 1,000 or more years before the Europeans copied them.
In all of the above, Needham has published not only old Chinese texts, but photos of old drawings that clearly depict all of these items, from texts that can be accurately dated. These are not wild claims or
supppositions; the evidence is both conclusive and striking, and is there for anyone to examine.
Where has the world been, for so many years? How could all of this have remained hidden? How - and Why - did the West so thoroughly erase China from the world's current historical memory?
MySingaporeBlogSpot
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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It all started in 2008 when the US Subprime crisis crashed the US and world economy
Putting 27 million out of work in China and shuttering 100 thousand factories
China got their banks to loan out 580 billion
That created that big ball of money that went from sector to sector
Real estate, shadow banks, underground economy, commodities. Stocks, bonds and then back to their Real Estate
USA is sitting on a Stock Market bubble itself propped up by borrowed money to do share buybacks
As well as Quantitative Easing because the last time the USA tried Quantitative Tightening from Q4 2017 to Q3 2019 they froze the credit markets/repo market
Like I said it took the Chinese over a decade, to finally get these bubbles under control. As they are deflating those bubbles and loath to stimulate the economy with more stimulus money
But western elite want those bubbles to continue, the well off Chinese to be buying their 3rd and 4th homes right about now
They want access to those Chinese savings and for them spend it. Borrow more money and spend some more . Like they did to us westerners
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Project Syndicate
The value of global China
July 23, 2019 | Article
China faces important questions about whether and to what extent it should continue to pursue opening up its economy to the rest of the world, write Jonathan Woetzel and Jeongmin Seong in Project Syndicate.
In any case, China and the world face important questions about the trajectory of their mutual engagement. At stake, according to our simulation, may be some $22-37 trillion in economic value – or 15-26% of world GDP – by 2040.
.McKinsey
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Yes local Governments for example could start charging property taxes
The smart people would have moved already
Still a lot better than western countries sticking that debt into their Sovereign external debt.
Even then take the US Internal debt at 300 trillion. Where they have already borrowed 34 trillion externally
At least the Chinese could go borrow externally if all else fails
The USA is where people should be worried if it’s about debt
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China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus
China has a history of taking debt off its books and burying it, which should prompt us to poke and prod its numbers. If we go back to the last time China cooked the national books big time, during the Asian currency crisis of 1997, we can get an idea of where its debt might be hidden now.
The majority of bank loans, says Jubak, went to state-owned companies -- about 70% of the total. The collapse of China's export trade following the crisis meant that its banks were suddenly sitting on billions in debts that were clearly never going to be paid. But that was when China's largest banks were trying to raise capital by selling stock in Hong Kong and New York, and no bank could go public with that much bad debt on its books.
The creative solution? The Beijing government set up special-purpose asset management companies for the four largest state-owned banks, the equivalent of the "special purpose vehicles" designed by Wall Street to funnel real estate loans off U.S. bank books. The Chinese entities ultimately bought $287 billion in bad loans from state-owned banks. To pay for the loans, they issued bonds to the banks, on which they paid interest. The state-owned banks thus got $287 billion in toxic debt off their books and turned the bad loans into an income stream from the bonds.
Sound familiar? Wall Street did the same thing in the 2008 bailout, with the U.S. government underwriting the deal. The difference was that China's largest banks were owned by the government, so the government rather than a private banking cartel got the benefit of the arrangement. According to British economist Samah El-Shahat, writing in Al Jazeera in August 2009:
China hasn't allowed its banking sector to become so powerful, so influential, and so big that it can call the shots or highjack the bailout. In simple terms, the government preferred to answer to its people and put their interests first before that of any vested interest or group. And that is why Chinese banks are lending to the people and their businesses in record numbers.
In the US and UK, by contrast:
banks have captured all the money from the taxpayers and the cheap money from quantitative easing from central banks. They are using it to shore up, and clean up their balance sheets rather than lend it to the people. The money has been hijacked by the banks, and our governments are doing absolutely nothing about that. In fact, they have been complicit in allowing this to happen
HuffPost
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* Even though there are between 20 and 45 million unoccupied homes across China, which account for roughly 600 million square meters of uninhabited floor space – enough to completely cover Madrid, these places are not the urban wastelands they are often posited to be. While many of China’s new cities and urban districts are deficient in people they are not deficient in owners. Nearly every apartment that goes on the market in China is quickly purchased, often at exorbitant prices that commonly range in the hundreds of thousands of dollars. Far from being unwanted infrastructure that could seamlessly be doled out to refugees, those arrays of vacant high-rises are actually the proud possessions of people who paid a lot of money for them.
So why would anyone spend incredible amounts of cash on houses they do not intent to use?
* A huge portion of the homes that are purchased in China function very much like stocks or a trade-able commodity. As an incredible amount of new apartments are sold as unfinished concrete cavities without any interior fit out or even windows, they are in no way immediately livable. Although they are very actively bought and sold in this bare-bones form, which is often preferred by investors. In many ways they are purely economic entities, quantifiable placeholders of value that are traded on the open market akin to precious metals. Just as one doesn’t need to mold a piece of gold into something usable like a piece of jewelry for it to have value and an economic function, an apartment in China doesn’t need to have people living in it for it to be economically viable.
“Empty units leave flexibility for quick sales in a changing market or need to cash in quickly,” said Barry Wilson, the founding director of Barry Wilson Project Initiatives, a Hong Kong based urban design firm.
Another reason for the sheer amount of unused apartments in China is the fact that there is often little financial incentive for owners to do anything with them after purchase. There is no yearly property tax in China, so vacant properties are not a financial drain on their owners. While the potential returns that could be had from renting them out (1% or so) is often not worth the hassle — especially because it costs tens of thousands of dollars to construct the interiors of new apartments in preparation for tenants. This is combined with the fact that Chinese homeowners, especially investors who have multiple properties, are remarkably un-leveraged. According to Mark Tanner, over 80% of homes in China are owned outright. This means that most homeowners, especially the big investors with multiple properties, generally don’t have any mortgages to pay off or any other leans, so there isn’t as much financial pressure to make a profit from these homes in the short term.
Thevagabondjourney
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Also the prevailing though is the economy crashes the people will rise up and the country will be plunged into chaos maybe even democracy will follow etc
Putting aside the implications it has for the rest of the world as we just talk about decoupling. While the Chinese are actually preparing for that eventual decoupling
This shows we do not understand the way people in China think.
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Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely, East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network. But the cost is they don't feel as good about themselves, he says.
Because people in these cultures have different motivations, they make very different choices, Heine adds. If Americans perceive they're not doing well at something, they'll look for something else to do instead.
"If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it. East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins.
But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
Other cross-cultural differences appear in whether children attribute good performance to ability or to effort, and in strategies used to improve performance.
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
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How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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In Defense of Socialism, 1990–1991
After the collapse of socialist regimes in Eastern Europe, the VCP chief and defense minister sought an ideological alliance with China.
As Party Chief Nguyen Van Linh explained to the Chineseambassador to Vietnam on June 5, 1990, the situation was marked by the West’s offensive to eliminate socialismand concurrently the difficulties of the Soviet Union in defending socialism.
In this situation, Linh concluded,
“China should raise high the banner of socialism and stick to Marxism-Leninism.”
Linh and Defense Minister Le Duc Anh hoped that Chinawould take the leadership of the world’s socialist forces;
they indicated to the ambassador that they were ready to meet Chinese leaders to discuss solidarity between the two states to fight imperialism.
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On September 2 that year, Vietnam’s Independence Day, the party and government chiefs did not stay in Hanoi to celebrate the 45th birthday of their state but instead flew to Chengdu, China, for a secret summit with Chineseleaders, the first since the mid-1970s.
The Vietnamese understood that their acceptance
of the time, place, and participants was a sign of deference to China.
Participants included Vietnam’s elder statesman Pham Van Dong but not China’s paramount leader Deng Xiaoping; Foreign Minister Thach was excluded.
During the meeting, the Vietnamese also let the Chinesedictate the terms of negotiation;this should be seen against the background of a decade-long hostility between the two countries.
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The Vietnamese had urgent reasons for taking this approach. At the time, the counterweight of the Soviet Union was no longer available and Vietnam was still isolated, regionally and globally.
In China, Vietnam faced a disproportionately powerful neighbor, and in order to prevent Chinese aggression, Hanoi had to pay deference to Beijing.
It appeared to be the calculation of Pham Van
Dong and, to some extent, Prime Minister Do Muoi.
Yet, as discussed above, General Secretary Nguyen Van Linh had different concerns and priorities.
His primary intention at Chengdu was to discuss how to protect socialism from the West, led by the United States.
Although the Chinese refused to play the solidarity game, Linh and his successors over the next decade kept trying to reestablish the Sino-Vietnamese relationship on an ideological basis.
Scribed
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@frieren1011
Plus….what grade 10 educated Filipinos don’t get
The Philippines under UNCLOS had every right to request a tribunal as a resolution
But
China under UNCLOS had every right not to accept the tribunal as a resolution
No one other than Taiwan accepts that 9 dash line claim. Which the tribunal did rule against
The tribunal did not rule on ownership of the disputed islands or waters
But what the tribunal did state was ... No one exhibited continuous control over the islands, reefs, water in dispute
That means all the other countries who also have their land and water disputes including China and the Philippines
Have dug into the land and water they control. And are basically saying talk to us in few hundred years
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Article 287
Choice of procedure
1. When signing, ratifying or acceding to this Convention or at any time thereafter, a State shall be free to choose, by means of a written declaration, one or more of the following means for the settlement of disputes concerning the interpretation or application of this Convention:
(a) the International Tribunal for the Law of the Sea established in accordance with Annex VI;
(b) the International Court of Justice;
(c) an arbitral tribunal constituted in accordance with Annex VII;
(d) a special arbitral tribunal constituted in accordance with Annex VIII for one or more of the categories of disputes specified therein.
2. A declaration made under paragraph 1 shall not affect or be affected by the obligation of a State Party to accept the jurisdiction of the Seabed Disputes Chamber of the International Tribunal for the Law of the Sea to the extent and in the manner provided for in Part XI, section 5.
3. A State Party, which is a party to a dispute not covered by a declaration in force, shall be deemed to have accepted arbitration in accordance with Annex VII.
4. If the parties to a dispute have accepted the same procedure for the settlement of the dispute, it may be submitted only to that procedure, unless the parties otherwise agree.
5. If the parties to a dispute have not accepted the same procedure for the settlement of the dispute, it may be submitted only to arbitration in accordance with Annex VII, unless the parties otherwise agree.
6. A declaration made under paragraph 1 shall remain in force until three months after notice of revocation has been deposited with the Secretary-General of the United Nations.
7. A new declaration, a notice of revocation or the expiry of a declaration does not in any way affect proceedings pending before a court or tribunal having jurisdiction under this article, unless the parties otherwise agree.
8. Declarations and notices referred to in this article shall be deposited with the Secretary-General of the United Nations, who shall transmit copies thereof to the States Parties.
UNORG
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Article 287, paragraph 1, provides that States and entities, when signing, ratifying or acceding to the Convention, or at any time thereafter, may make declarations specifying the forums for the settlement of disputes which they accept. Article 287, paragraph 1, reads: "Article 287
UNORG
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Article 298
Optional exceptions to applicability of section 2
1. When signing, ratifying or acceding to this Convention or at any time thereafter, a State may, without prejudice to the obligations arising under section 1, declare in writing that it does not accept any one or more of the procedures provided for in section 2 with respect to one or more of the following categories of disputes:
(a) (i) disputes concerning the interpretation or application of articles 15, 74 and 83 relating to sea boundary delimitations, or those involving historic bays or titles, provided that a State having made such a declaration shall, when such a dispute arises subsequent to the entry into force of this Convention and where no agreement within a reasonable period of time is reached in negotiations between the parties, at the request of any party to the dispute, accept submission of the matter to conciliation under Annex V, section 2; and provided further that any dispute that necessarily involves the concurrent consideration of any unsettled dispute concerning sovereignty or other rights over continental or insular land territory shall be excluded from such submission;
(ii) after the conciliation commission has presented its report, which shall state the reasons on which it is based, the parties shall negotiate an agreement on the basis of that report; if these negotiations do not result in an agreement, the parties shall, by mutual consent, submit the question to one of the procedures provided for in section 2, unless the parties otherwise agree;
(iii) this subparagraph does not apply to any sea boundary dispute finally settled by an arrangement between the parties, or to any such dispute which is to be settled in accordance with a bilateral or multilateral agreement binding upon those parties;
(b) disputes concerning military activities, including military activities by government vessels and aircraft engaged in non-commercial service, and disputes concerning law enforcement activities in regard to the exercise of sovereign rights or jurisdiction excluded from the jurisdiction of a court or tribunal under article 297, paragraph 2 or 3;
(c) disputes in respect of which the Security Council of the United Nations is exercising the functions assigned to it by the Charter of the United Nations, unless the Security Council decides to remove the matter from its agenda or calls upon the parties to settle it by the means provided for in this Convention.
2. A State Party which has made a declaration under paragraph 1 may at any time withdraw it, or agree to submit a dispute excluded by such declaration to any procedure specified in this Convention.
3. A State Party which has made a declaration under paragraph 1 shall not be entitled to submit any dispute falling within the excepted category of disputes to any procedure in this Convention as against another State Party, without the consent of that party.
4. If one of the States Parties has made a declaration under paragraph 1(a), any other State Party may submit any dispute falling within an excepted category against the declarant party to the procedure specified in such declaration.
5. A new declaration, or the withdrawal of a declaration, does not in any way affect proceedings pending before a court or tribunal in accordance with this article, unless the parties otherwise agree.
6. Declarations and notices of withdrawal of declarations under this article shall be deposited with the Secretary-General of the United Nations, who shall transmit copies thereof to the States Parties.
UNORG
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The Government of the People’s Republic of China does not accept any of the procedures provided for in Section 2 of Part XV of the Convention with respect to all the categories of disputes referred to in paragraph 1 (a) (b) and (c) of Article 298 of the Convention.
UNORG
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In addition, article 298, paragraph 1, allows States and entities to declare that they exclude the application of the compulsory binding procedures for the settlement of disputes under the Convention in respect of certain specified categories kinds of disputes. Article 298, paragraph 1, reads:
UNORG
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Article 299 Right of the parties to agree upon a procedure
1. A dispute excluded under article 297 or excepted by a declaration made under article 298 from the dispute settlement procedures provided for in section 2 may be submitted to such procedures only by agreement of the parties to the dispute.
2. Nothing in this section impairs the right of the parties to the dispute to agree to some other procedure for the settlement of such dispute or to reach an amicable settlement.
UNORG
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Huge Price Cuts Rumored From Chinese Developers Due To Collapsing Demand
Vincent Fernando, CFA May 29, 2010
Demand is falling since China's central government announced stricter regulations for property transactions during the middle of April. These involve higher down payments and mortgage rates for the purchase of second home, and act which is seen as potential speculation. Such tightening is reducing buying demand.
Thus a moderately bearish view is that property prices need to come down, since demand is likely down yet supply is the same. This challenge isn't limited to Shanghai:
China Vanke Co, the country's largest publicly listed developer, may cut apartment prices by 10 to 30 percent within three months, the Beijing News said yesterday, citing an unidentified sales agent. Local Vanke officials declined to comment yesterday.
Yet Shanghai is where things could get the ugliest, the earliest. This is because the local Shanghai government is planning to clamp down on speculation even harder than China's central government already has:
Chen Qiwei, a spokesman for the Shanghai municipal government, did not preclude the possibility of levying property tax when asked about this issue at a press conference on Friday.
"Shanghai will take more strict measures in line with the central government policy," Chen said, adding that more efforts will be made in building economically affordable houses and cracking down on speculative house purchasing.
Other cities such as Beijing, Chongqing, and Shenzen could have similar additional taxes, but Shanghai is the first to make an official comment such as above according to China Daily. Thing is, any action from Shanghai will likely need approval from the central government.
BusinessInsider
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Business
Economics
China Increases Banks’ Reserve Ratios to Cool Prices
By Bloomberg News
December 10, 2010 at 4:08 AM PST
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China raises banks' reserve ratios again
Reuters
December 10, 20104:27 AM PSTUpdated 13 years ago
Dec 10, 2010 — The 50 basis point increase, which takes effect on Dec 20, will leave required reserve ratios at 18.5 percent
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China Property Market ‘Bubble’ Set to Burst, Xie Says
By Bloomberg News
February 1, 2010 at 11:51 PM PST
China’s property market “bubble” is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.
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China cracks down on speculators to cool prices
BY THE ASSOCIATED PRESS
NOV. 23, 2010
The government has ordered banks twice in the past three weeks to raise the amount of money they hold in reserves to rein in lending growth.
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China cracks down on property speculation Source:Global Times Published: 2010
The Chinese government has raised the down payment for second-home buyers to a minimum 50 percent of the value from 40 percent, in a bid to curb property speculation.
The decision was announced in a statement released Thursday after conclusion of an executive meeting of the State Council, the Cabinet, presided over by Premier Wen Jiabao, on Wednesday.
First-home buyers must pay no less than 30 percent of the the property price if the area is above 90 square meters, the statement said.
The government was stepping up the introduction of tax policies to influence purchases and adjust property investment returns, said the statement.
Nationwide, land use for the construction of low-income housing, shanty town renovation and small and medium-sized homes (below 90 square meters) should account for at least 70 percent of the land approved for property development, the statement said.
It also urged local authorities to accelerate housing construction approvals to ensure effective land supply, and crack down on land hoarding and speculatory behavior.
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China attempts to deflate its unstable property bubble
China is to spend $200bn on low-cost homes as part of a series of measures to slow the rapidly rising prices of urban houses
Tania Branigan in Beijing
Wed 9 Mar 2011 19.24 GMT
Chinese officials are blaming speculators for soaring property prices and are vowing to build 36m affordable homes over the next five years. There are already widespread concerns about China's booming property market and the threat it poses to the country's expanding economy.
China would spend nearly $200bn (£123bn) on an affordable homes and social housing scheme, said deputy housing minister Qi Ji in Beijing .
The pledge came a few days after premier Wen Jiabao promised to "resolutely" curb speculation to tackle excessively rapid price increases
The authorities have taken various steps since spring last year to dampen the property market. These include raising interest rates, increasing the minimum downpayment required on second homes and restricting the rights of foreigners to buy property. Two Chinese cities are now imposing sales tax on property deals.
While the measures have slowed growth, many fear it remains too high. In March 2010, urban housing prices shot up by 11.7% year-on-year, according to figures from the national bureau of statistics. December saw the lowest increase in more than a year, but it still stood at 6.4%.
The Guardian
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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It was more of a international effort the Americans helped to partially fund, the building of the BSL4 Biolab the French built it
The USA, UK, France, and Canada helped to train the scientists working there
And the USA funded that Gain-Of-Function Research in that Biolab
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State Department cables warned of safety issues at Wuhan lab studying bat coronaviruses
By Josh Rogin
April 14, 2020 at 5:0
* In January 2018, the U.S. Embassy in Beijing took the unusual step of repeatedly sending U.S. science diplomats to the Wuhan Institute of Virology (WIV), which had in 2015 become China’s first laboratory to achieve the highest level of international bioresearch safety (known as BSL-4). WIV issued a news release in English about the last of these visits, which occurred on March 27, 2018.
*During interactions with scientists at the WIV laboratory, they noted the new lab has a serious shortage of appropriately trained technicians and investigators needed to safely operate this high-containment laboratory,” states the Jan. 19, 2018, cable, which was drafted by two officials from the embassy’s environment, science and health sections who met with the WIV scientists. (The State Department declined to comment on this and other details of the story.)
The Chinese researchers at WIV were receiving assistance from the Galveston National Laboratory at the University of Texas Medical Branch and other U.S. organizations, but the Chinese requested additional help. The cables argued that the United States should give the Wuhan lab further support, mainly because its research on bat coronaviruses was important but also dangerous.
WAPO
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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Except it was the USA who thought it was a good idea to cut off chip and chip making equipment to China
Thinking the Chinese could not innovative when the Chinese lead the world in 37 out of 44 critical technologies of the future
Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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Chinese had virtually no chip making ability/foundries 6 years ago
Now they are going after legacy chip markets
👇
How Close Is China to World Dominance in Legacy Semiconductors?
27-02-2024 | By Paul Whytock
* Bread and Butter Technology
Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why.
Legacy devices make up a huge amount of global chip sales.
Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices
* China's Aggressive Expansion in the Semiconductor Industry
In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World.
The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices.
ElectroPages
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More like some people don’t believe a single word MSM tells them
Unless it’s about China then their word is the Gospel
In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities
By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities
That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers.
Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate.
Even then, It took them almost 14 years to get their overheated real estate under control
Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018
Why is their Central Government doing this?
Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen.
Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need
In China
Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married
Thus the common prosperity push and the crackdown on the overt displays of wealth in China
Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
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Huge Price Cuts Rumored From Chinese Developers Due To Collapsing Demand
Vincent Fernando, CFA May 29, 2010
Demand is falling since China's central government announced stricter regulations for property transactions during the middle of April. These involve higher down payments and mortgage rates for the purchase of second home, and act which is seen as potential speculation. Such tightening is reducing buying demand.
Thus a moderately bearish view is that property prices need to come down, since demand is likely down yet supply is the same. This challenge isn't limited to Shanghai:
China Vanke Co, the country's largest publicly listed developer, may cut apartment prices by 10 to 30 percent within three months, the Beijing News said yesterday, citing an unidentified sales agent. Local Vanke officials declined to comment yesterday.
Yet Shanghai is where things could get the ugliest, the earliest. This is because the local Shanghai government is planning to clamp down on speculation even harder than China's central government already has:
Chen Qiwei, a spokesman for the Shanghai municipal government, did not preclude the possibility of levying property tax when asked about this issue at a press conference on Friday.
"Shanghai will take more strict measures in line with the central government policy," Chen said, adding that more efforts will be made in building economically affordable houses and cracking down on speculative house purchasing.
Other cities such as Beijing, Chongqing, and Shenzen could have similar additional taxes, but Shanghai is the first to make an official comment such as above according to China Daily. Thing is, any action from Shanghai will likely need approval from the central government.
BusinessInsider
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You must be an American
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Difference Between Internal Debt and External Debt!
The basic character of an internal debt is quite different from that of the external debt. In external debt, at the time of repayment there is a real transfer of resources.
In case of internal debt, however, since it is borrowed from individuals and institutions within the country repayment will constitute only a re-distribution of resources without causing any change in the total resources of the community.
There can, thus, be no direct money burden caused by internal debts since all payments cancel each other out in the aggregate community as a whole. Whatever is taxed from one section of the community servicing the debts is distributed among the bond-holders by way of repayment of loans and interest; and quite often, the tax-payer and the bond-holder may be the same person.
At the most, to the extent that the incomes of tax-payers (in a sense, debtors) are reduced, so will the incomes of creditors/ bond-holders increase, but the aggregate position of the community will, nevertheless, remain the same.
However, internal debt may involve a direct real burden on the community according to the nature of the series of transfer of incomes from tax payers to the public creditors. To the extent the tax-payers and the bond-holders are the same, the distribution of wealth will remain unaltered; hence there will not be any net real burden on the community.
Yourarticlelibrary
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China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus
What is China's secret? According to financial commentator Jim Jubak, it may just be "creative accounting" -- the sort of accounting for which Wall Street is notorious, in which debts are swept off the books and turned into "assets." China is able to pull this off because it does not owe its debts to foreign creditors. The banks doing the funding are state-owned, and the state can write off its own debts.
Jubak observes:
China has a history of taking debt off its books and burying it, which should prompt us to poke and prod its numbers. If we go back to the last time China cooked the national books big time, during the Asian currency crisis of 1997, we can get an idea of where its debt might be hidden now.
The majority of bank loans, says Jubak, went to state-owned companies -- about 70% of the total. The collapse of China's export trade following the crisis meant that its banks were suddenly sitting on billions in debts that were clearly never going to be paid. But that was when China's largest banks were trying to raise capital by selling stock in Hong Kong and New York, and no bank could go public with that much bad debt on its books.
The creative solution? The Beijing government set up special-purpose asset management companies for the four largest state-owned banks, the equivalent of the "special purpose vehicles" designed by Wall Street to funnel real estate loans off U.S. bank books.
HuffPost
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Difference Between Internal Debt and External Debt!
The basic character of an internal debt is quite different from that of the external debt. In external debt, at the time of repayment there is a real transfer of resources.
In case of internal debt, however, since it is borrowed from individuals and institutions within the country repayment will constitute only a re-distribution of resources without causing any change in the total resources of the community.
There can, thus, be no direct money burden caused by internal debts since all payments cancel each other out in the aggregate community as a whole. Whatever is taxed from one section of the community servicing the debts is distributed among the bond-holders by way of repayment of loans and interest; and quite often, the tax-payer and the bond-holder may be the same person.
At the most, to the extent that the incomes of tax-payers (in a sense, debtors) are reduced, so will the incomes of creditors/ bond-holders increase, but the aggregate position of the community will, nevertheless, remain the same.
However, internal debt may involve a direct real burden on the community according to the nature of the series of transfer of incomes from tax payers to the public creditors. To the extent the tax-payers and the bond-holders are the same, the distribution of wealth will remain unaltered; hence there will not be any net real burden on the community.
Yourarticlelibrary
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