Comments by "Winston Smith" (@kryts27) on "Lei's Real Talk"
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The totalitarian CCP conceals most economic results to itself. Like the totalitarian Nazis and Soviets, the true figures are revealed only to the top officials and people close to the dictator. This means that unilateral economic changes cannot be affected by government in China (even in a centralized goverance system, such as the CCP's model), especially the CCP that always have to make the economy look rosy, because it's absolute power is so fragile. So the ordinary Chinese people are currently ground-down under a severe economic recession, which is currently happening across China right now, and this has been going on for at least 6 months. Hence, this ia a result of an authoritarian system, for those who foolishly admire it. Faked data, and Western economic instututions like banks, stock exchanges and the IMF do know that CCP economic data is faked, but the Western investors are now severly spooked, loosing money hand-over-fist, and their fund managers have sealed their lips. Sucks to you, if you have been igoring the political and economic signs since Xi got into power 10 years ago and you are a foreign investor in China.
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The people running universities in China do not care about actual academic outcomes. Eventually, overseas universities realize this and will either not recruit academics or postgraduates from China or ask them to do exams in the year they recruit them to test their actual knowledge. Mainland Chinese undergraduates are a different matter, and Australian universities fall over themselves to enrol them because the full-fee paying foreign students bring more revenue to universties, over and above fee subsidized (in Australia fee subsidized tertiary education is called HELP) local students. The numbers of overseas Chinese undergraduate students enrolled in Australian universities were the highest overseas group (before 2020), for over twenty years. This is why when the CCP in 2020, in response to the Australian government query on the origins of the Covid outbreak, cast dark rumours that Australia was racist and a dangerous place for Asian students to live (which is a lie), and combined the Covid pandemic international border lockdowns at that time, plus the lies the CCP told Chinese students about Covid cases in Australia (Australia has had a combined death toll from Covid of 14500 people since 2020, in a total population of 26 million) the numbers of Chinese enrolled international undergraduate students plummeted here. In comparison, the USA has 1.078 million Covid deaths in 330 million people. Just do the math, you can see the number of Covid deaths per million is much higher in the US; 5.8 times worse.
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Nice that Lei provides a Chinese translation of topical words, including characters. The CCP is again trying for autarky in IT, a function that will be very difficult to achieve because parts for computers, laptops, tablet and mobile phones are sourced from eveywhere in the world (not just from China). The focus on security in hardware, software, and networks by the CCP is not coincidental. The fears by the CCP over backdoor spyware in software OS, installed in computers etc. by foreign governments and corporations, and with secret chips doing the same is pure paranoid projection. Because of the CCP's obsession about it, i just wonder if the CCP has been systematically doing just that to the computers, phones etc that it sells outside China, targeting other foreign countries, in particular the United States for many years?
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A thorough analysis of China's deeply indebted and troubled land transport system. But would the rest of the world foot the bill for China's massive debt by using digital RMB? Unless you trade with China (and it will insist on this payment in digital RMB very soon). Anyway, it is outside the SWIFT system making it less attractive, and China's banks are notoriously corrupt. This project desire of a digital world trading currency (the digital RMB), as an alternative to the US dollar is slipping out of the hands of the CCP as it's economy collapses. The CCP is economically now stuck between a rock and a hard place, mostly of it's own making; 1. Continual aggressive Covid lockdowns to placate the incumbent dictator Xi in a crazy Mao fashion. This harms up to 20% of the GDP of China, directly by economic stagnation and costs of continual Covid testing of the population, when the economy of China badly needs the growth now. These Covid lockdowns are also pushing foreign firms and investors to flee China more rapidly than even they planned pre 2022. Another 1% of China's GDP probably permanently lost with all the foreign technology inputs (CCP's technology theft) that comes with that, so the cumulative effect to China's GDP and local unemployment when the foreign firms leave China, is likely significantly higher than 1% loss. 2. Collapse of the real estate building industry. This is a unprecedented real estate bubble bust that makes even the Prime Mortgage in the US in 2008 GFC and the collapse of real estate prices in Japan in the early 1990s look tiny in comparison (not only in relative scale to the economy it affected but in absolute dollar value terms, factored in time for the earlier two smaller US and Japan bursts). This real estate crunch (nearly 30% of China's GDP) is too large for the CCP national treasury to fund a soft landing (unlike with the US Federal Reserve during the GFC), so many Chinese banks will also go under in the next year or so. By this metric, up to half of the GDP of China has already been lost in 2022. I've not even addressed the severe drought and heat waves on diminished electricity production and agriculture on Southern China this year. Is China the second largest economy in the world now? The CCP has run out of revenue and with high unemployment and business failure and international trade disappearing, it can't raise tax renenue and improve balance of trade terms and soon it's treasury will be dry and stagflation will become rampant. Soon China will be smaller than Japan's economy, making it the third, forth, fifth and so on in time with the added impulse of steep demographic decline; mostly products of CCP ideologically (not market driven) economic and social inepitude.
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