Comments by "May L" (@MeiinUK) on "China Observer"
channel.
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This has nothing to do with "the ccp party", cos the party is separate from the state councils as well... There is also the local regions. They drew boundaries of the different lands for different groupings. They also... did not reform their banking systems as well. Why some of the cities like the shanghai and HK could handle itself, is because of its previous generation of trade of import and exports as well ? PRC has been building a mega infrastructure project for the past 40 years or so. Cos they had the likes of the World Banks sitting in their country... and to dictate them as well.. and the wrong move was... THOSE who were exposed to this confidential knowledge... The USA government did say that, they had a LOT of different... "helps" from various entities from the West.... (PRC had access to the World Bank model of ALL countries.. in the globe.) This is why.. some people hates China right now.. cos they deliberately used these details and info... for themselves.... ?... But they mismanaged it as well.... and then those so called "young educated types" were never prosecuted as well.. cos they basically were winging it... i.e. "Making things up as they go along, without proper analysis or any kind of cushions" at all.... They basically screwed up, because the "land bank" were also not a small region, and they didn't keep lending and relending, because they wanted to make the same way as that of HK as well... which never used to be as such... So... And they didn't actually used a different approach. They went "all or nothing" at the exact same time.. This is why they failed royally. NOthing to say that, they couldn't have created a different regional currency. They could've drawn stricter borders and lines. Could've used a different ratio of... land values.. rather than the same one. And then keep knocking down, and rebuilding, in City A as opposed o City B as well etc. BUT.. because their politicians are like... they are only promoted... based on their regional goals. So therefore, of course, everybody would build houses, to meet their local GDPs.. in order to actually get up the career ladder. So this is what they did, and now, instead of regional bank runs.. they are experiencing the central bank runs... That is why their so called "developers" is going bankrupt.
Oh, to add insults to injuries.. a lot of these investments could be foreign ones as well. Plus... local regional banks.. could also handle foreign currencies too.. and hence, they basically use their own "loans" to export those debts into other countries. So now, Sri Lanka is in deep trouble.. because they did that.... Very complicated... (It basically means..."china build some buildings, which were based on a credit card debt.. and now, China has moved that credit card debt to Africa. To Sri Lanka etc.) IF you read it like THAT... you will begin to see why people hates this idea.
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@Candolad : You need to understand that.. HK had freedom back then.. despite it was just after the second world war as well... your assumption is that, it should be an exact model.. or a desire to be something else... but... what it lost, is the freedom to do what they liked, which is to earn money. That is one, and the second one is that, there is not enough work as well.. and also the current restriction just kind of stops everything else... and at the same time, causes a lot of damages globally too. Which does not help. The intent is good.. but the outcome was bad. Some people wanted the "one voice, one vote".. but then it cannot be the international currency exchange that made it rich. It wanted the local government model.. and yet, it cannot be the international financial commerce that it is. If they wanted both, then you need to lock yourself out into a flat, like they do in New York... which is to keep things impartial.. So what do you want?.... Even people in London, they don't go anywhere near the financial district, if they don't live there. They avoid it. So.... and then they live in the rural areas. End of the business of the day. Then go home. But today, you have so much surveillances AS well.. on top of such financial and internationally sensitive areas... Do you think that other countries would allow you to do that? To put your own militaries and surveillance into a city of commercial activities? The answer is a good "no". Actually.... So.... What do china want? ... It is destroying one areas, above another. And yet, some people assume that they could export the same exact laws into Shenzen. In reality... they international crowd can't go there, at all.... (And right now, the CCP is controlling the banking sector as well.. above the financial sector itself... It should not interfere with the financial sectors..... but it is doing so. So how is that "international finance, without political meddling" ???).... Every other country, does not allow the politics to meddle with the financials....
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Well.. if I was the HSBC CEO right now. I would definitely ring fence those mainland customers, into their own databases, and separate the overseas' account separately. Just for safety and ease of actual auditabilities. And separate transactions and so forth. Creating an internal second layer, does not actually ruin anything. It makes traceabilities much easier as well. So.... Should or should the HK Dollars with the US dollars collapse or not.. should be an actual formal action and formal decision. And not this way. Not this indirect way. Phase out process is always better than actually jumping off a cliff's edge !!!! And by right, HK had or didn't have such a high or large peg to USD anyway, and the fact that the WTO, to allow yuan-USD to happen.... I mean... And it is the fault of the various chinese dispora too... who sent money back into HK. And it was then the different local chinese, that then filled their own boots inside the mainlands. With their various mistresses, and concubines, and built up their own so called "clans and family businesses".. I bet this was never translated into English, right? To the English banks or the foreign banks....
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I do think that there can be an actual Western business model here. That is... open private boarding schools in the rural areas. And actually mean that, they can both ask the rural workers to work on site. Either buy agricultural products from them, which also gets processed on site. As well as paying them an actual salary too in small foreign domination. If they do this model. It then means that, the able bodied supporting two people, they stay in the urban areas.... and supports the SOEs.... and even if there are no small or medium enterprises, or if they are reduced. Then ifthese foreign enterprises supports those rural villages as well. It then means, the overall GDP is still supported ? Basically, open boarding schools for kids in the rural areas. And also, to make sure that they have both domestic AND foreign teachers as well. Kind of like a comprehensive system all around. (And in the end, those figures, ought to also provide the GDP income, to clean up pollution also in rural areas as well.) And with those building investments, they, when the school ends. Those buildings, can indeed be sold, or given to those rural villagers. Which implies or mean that, they need to be built in such a way that reflects like a low tier building.. that can be domestic kind. Imagine if these are built, it is like killing TWO birds with a single stone. It then eleviates the actual GDP spend that urban areas need, so that spare budget, could go to their own insurances or their own pensions etc. Win-win-win.
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Do you know what I am trying to figure out ?... It is like this....
This video says... 4 million people. That is around... 4,000,000... But if their parents.. each of those individuals... borrowed around a whopping 500,000 amount.. so let us check out the total... 4,000,000 x 500,000 = Those mere chinese people, already has created "debts" (in the entire global system).... to be around a whopping 2,000,000,000,000.... (2 trillion ).... I hope that is not in UK pounds, or even in US dollars. Cos frankly... This is collapsing the US as a country.... I mean....
I don't trust this video at all... Cos... I don't believe it.
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