Chinese Economics Thread

ansy1968

Brigadier
Registered Member
" Do not treat China as an enemy. Otherwise it will develop a counter-strategy to demolish the United States in the Asia-Pacific"
- Lee Kuan Yew

All i have to say to the white homosexual anglo oligarchs like Thiel is to suffer for their sins for China is their Nemesis in this life and the next,
@hashtagpls bro, it had nothing to do with China, Thiel proposal is for the FEB to regulate bitcoin while holding a large amount. He is betting long on bitcoin (he was referring to Chinese E YUAN which is not bitcoin) that is how manipulative this people are. They don't want ordinary people to owned and speculate on it.
 
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BlackWindMnt

Captain
Registered Member
@hashtagpls bro, it had nothing to do with China, Thiel proposal is for the FEB to regulate bitcoin while holding a large amount. He is betting long on bitcoin (he was referring to Chinese E YUAN which is not bitcoin) that is how manipulative this people are. They don't want ordinary people to owned and speculate on it.
My guess is Peter Thiel will propose future regulation that only western based bitcoin miners wallet are valid miners, they will mine the approved "Human rights approved" bitcoins. Coinbase and other western regulated exchanges will be the only valid place to get and trade your cryptos just like the new york stock exchange etc are the only valid places to trade stocks.

Current wallets will most likely be whitelisted once you go through a Know your customers process destroying privacy on the blockchain,
and giving the NSA the option to track bitcoin trades in real-time like they already do in the current financial system.

For the rest really wondering when will the US create its digital Hadrian wall, the great Anglo firewall to protect against the Eurasian troll armies.
 

Tyler

Captain
Registered Member
@hashtagpls bro, it had nothing to do with China, Thiel proposal is for the FEB to regulate bitcoin while holding a large amount. He is betting long on bitcoin (he was referring to Chinese E YUAN which is not bitcoin) that is how manipulative this people are. They don't want ordinary people to owned and speculate on it.
China's internal circulation with digital RMB and Chinese cryptocurrency will decouple from bankrupt $US. Chinese quantum security will make sure Chinese currencies and exchanges are unhackable by foreign regimes.
 

voyager1

Captain
Registered Member
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  • Local Chinese cadres will be held accountable for the rest of their lives if the debt raised during their terms is found to be problematic in the future
  • Key policies or investment projects that would be funded with public money will have to undergo a ‘fiscal endurance’ evaluation
Extremely important and a very good move by the Central Gov
 

quantumlight

Junior Member
Registered Member
My guess is Peter Thiel will propose future regulation that only western based bitcoin miners wallet are valid miners, they will mine the approved "Human rights approved" bitcoins. Coinbase and other western regulated exchanges will be the only valid place to get and trade your cryptos just like the new york stock exchange etc are the only valid places to trade stocks.

Current wallets will most likely be whitelisted once you go through a Know your customers process destroying privacy on the blockchain,
and giving the NSA the option to track bitcoin trades in real-time like they already do in the current financial system.

For the rest really wondering when will the US create its digital Hadrian wall, the great Anglo firewall to protect against the Eurasian troll armies.
This furthur supports my contention Bitcoin was CIA all along...

By doing this the US effectively tricked Chinese miners into wasting time, effort, electricity not to mention propping up Nvidia GPU prices and responsible in large part in helping essentially subsidize and crowd source America's AI development and acceleration then US gov comes in at the end of the journey to harvest it all in one fell swoop and once again deny the Chinese the fruits of their labor while all along abusing China to cheat their way on top... seeing a pattern here?
 

quantumlight

Junior Member
Registered Member
China's internal circulation with digital RMB and Chinese cryptocurrency will decouple from bankrupt $US. Chinese quantum security will make sure Chinese currencies and exchanges are unhackable by foreign regimes.

China's digital RMB is unhackable anyway, even over TCP/IP, but quantum communication wont hurt as added layer of transport security... I suspect quantum communication is more of a way to send information and secrets in general amongts themselves and other nations with no possibility of eves dropping nor interception/decryption or Man-In-The-Middle-Attack by US and Five Eyes etc
 

Andy1974

Senior Member
Registered Member
It's dismal because you can't refute it and it makes you look bad and lots of people agree LOL

I've already proven that for a competitive modern tech power, billionaires are indeed necessary. While you did not directly say that they need to be eliminated, I was responding to the general old generation commie vibe that they steal and cheat and they are a drain from society. And obviously, if something is a drain, it should be eliminated.

Furthermore, your stupid plan to deprive billionaires of privacy will drive them out. Taxation is one thing; billionaires can afford more taxes, but privacy is invaluable and will devastate someone's lifestyle regardless of their wealth if this basic human right is taken away.

Why did you cut my quote short? LOL Cus you know that the rest of the sentence disproves what you are saying. Billionaires are needed to be competitive, and China needs to be at the top of the world in competitive. Memory is not your problem; it's that you have a broken ego so even though you know you are defeated, you will keep talking and start to use desperate tricks like cutting quotes in half to make them sound like something else and using "yapping" to try to glance over things you cannot answer. A person who knows how to debate and defeat all of your points takes all that you write and debunks them in a point-to-point.

All they have to ask is, ""How open? More open than someone with a regular amount of wealth? How is it enforced? Are you suggesting that once someone reaches above a certain level of wealth that s/he be stripped of his/her human right to privacy? That's ok with you? That's not persecuting success?" And you'll just slink under the desk with some, "I didn't think it all through. I don't need to know the details," and everyone will just laugh at you and your silly idea.

This was already debunked; repeating it won't make it true. This is another desperate technique for you to save face when you know you've lost.

Your 3 sad examples only showed that 1. billion dollar companies can grow out of humble origins, but they need to become billion dollar companies to keep up with the tech and 2. You need to go back centuries to over a millennium to even try to debunk a modern trend that is obvious to all with intellectual honesty. By the way, your allusion to China's invention of "rockets" was the funniest. This is 2021; when people say rockets, we mean the thing used to launch things into orbit, NOT the giant firecracker made out of paper and wood used to kill Mongols.

Yes, we do. When you make suggestions that are amorphous and without thought, it makes you sound like Trump telling people to inhale bleach and inject UV light.

Something more than what is already done? What makes you say that what is already done and China's current grip over them isn't enough?

Because I don't see them running rampant causing problems and I don't try to pre-emptively punish people who are driving Chinese innovation under the illogical assumption that whatever happens in the US will also happen in China's very different political system. I see them acting as a massive engine of innovation that can finally back up China's state sector and whenever there is a potential problem, I see the CCP coming down on them to prevent it. I see nothing that doesn't work and nothing that needs to change.

When the speaker spouts nonsense, I will not learn it at all.

Like I said, unicorns turn into billion dollar companies, no problem. But cutting edge companies need to be big and that's what your example shows because Fairchild did become a billion dollar company. If you wanted to prove that cutting edge technological innovation comes from small businesses, you would need to show me a company that is currently small (maybe single digit millions) and creates technology that leads or cannot be replaced by any mega corporation. Showing me a billion dollar company that came from humble origins does not back up your point at all.

Now it's dead; too small, taken over by ON Semiconductor for $2.4 Billion.

It's all like that when you have no answer. Even though you have said more things that mean nothing than anyone else, I always crush them rather than glance over them hoping they disappear, because I can.
I do wish you two could give up and stop arguing.
 

weig2000

Captain
Michael Hasenstab, chief investment officer for Templeton Global Macro, explains the benefits of and opportunity to China's CBDC (central bank digital currency), and its potential threat to dollar dominance in Financial Time.

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Beijing’s ambitions could spur acceptance of renminbi as main rival to US currency
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The writer is chief investment officer for Templeton Global Macro

Markets have been gripped by cryptocurrency fever. The price of bitcoin has attained new highs while debate has raged over the emergence of cryptocurrency technology.

But these may be a sideshow for a big developing trend — the rapid digitalisation of the renminbi.

This shift, combined with other macroeconomic and political factors, could be the key that accelerates the decline of the dollar’s dominance as the world’s leading reserve currency. It could also hasten the acceptance of the renminbi as the main rival to the US currency.

Central banks around the world have been grappling in recent years with the concept of digital currency technology. Few nations, though, are as aggressive as China in their approach to developing a so-called central bank digital currency.

Such a currency would be overseen by a central governmental authority, removing the element of anonymity that is fundamental to the decentralised, blockchain-ledger of popularised cryptocurrencies like bitcoin or ethereum. The theoretical benefits of government oversight of these new digital assets are numerous.

CBDCs allow for greater prevention of fraud or crime, enable instantaneous international transactions, reduce transaction costs, permit greater financial inclusion and aid the provision of direct fiscal stimulus to individual citizens.

For China, adoption of a CBDC both within and beyond its borders would allow its financial system to reduce reliance on the dollar and limit the role and oversight of foreign financial institutions and regulators. While many countries have started discussing the potential future application of CBDCs, China has pushed ahead with development.

In April 2020, Beijing piloted a digital currency in four cities, allowing commercial banks to run internal tests converting between cash and digital money, account-balance checks, and payments. The pilot programme expanded to 28 major cities in August. Aiming for broad circulation in 2022, China plans to test the digital currency in additional major cities, including Beijing and Shanghai, this year.

This pioneering approach should accelerate the elevation of the renminbi on the world stage. Some users outside China, particularly in the US, might be reluctant to use a digital currency controlled by China. However, early adoption in parts of Asia, Latin America and Africa is likely to proceed significantly faster.

Global reserve currencies’ relative importance historically is explained by the macroeconomist Barry Eichengreen. Currencies are more prized as reserve assets when they satisfy two conditions: first, when they are stable, liquid and widely used in international transactions; and second, when they are backed by a country to which another state has important security links.

China’s development in recent years puts it on a clear path to satisfy these criteria as its government has maintained relative policy stability. The country accounted for 16 per cent of global output in 2019, but the renminbi represented a little over 2 per cent of global reserves as of the second quarter last year.

Lack of renminbi-denominated assets for foreigners to own has inhibited its rise as a reserve currency. But now the renminbi will be supported by the Chinese authorities opening their $15tn domestic bond market to foreign participants. Greater demand for these bonds will push down yields, lowering borrowing costs.

More important, if China captures the first-mover advantage to meet the world’s demand for use of digital currencies to settle international financial transactions and own digital assets, the appeal of its CBDC could rise sharply.

China has also made great strides in invoicing its trade in renminbi. The security and geopolitical rationale for holding renminbi has become stronger through such measures as China’s Belt and Road Initiative financing of projects in developing countries.

Covid-19 might also be a catalyst for the greater acceptance of the renminbi as a global reserve currency. The economic carnage of the pandemic has sent already large fiscal deficits ballooning and driven even more accommodative monetary policy in the US.

This historically unique combination of impending massive fiscal and vaccine-led growth, where short-term interest rates are anchored at zero, will expand an already large current account deficit, putting further pressure on the value of the dollar.

The digitalisation of the renminbi will add to these economic and geopolitical factors. This will have a durable, transformative impact on the international economy.
 

Team Blue

Junior Member
Registered Member
I'm still kinda skeptical only because it seems like typical government regulated currency with extra steps.

But hey if it ends up working I'd probably buy some.
 

sinophilia

Junior Member
Registered Member
I do wish you two could give up and stop arguing.

One of them is a legit 100% White-worshipping (and apparently actually White himself) nutjob who wants China to model itself on some revolutionary communist ideals. Thank god these foreign agents have no chance of convincing China to go back to that shitty model.

The current Chinese model is distinctly Chinese, and he wants China go back to some failed European model. Nah, screw that and screw him. China is going it's own way. Doesn't need any more 'help' from Westerners, whether they be Communists or Capitalists or Anarchists.

China will more than happily accept trade, financing initiatives, technology transfer and so on. But enough with these Westerners lecturing China on her political and economic system.
 
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