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> Basically, they understand very well that top talents are essential for developing advanced technology they need Because companies around the world are now a
by bustrakcan 9y ago
> Basically, they understand very well that top talents are essential for developing advanced technology they need
Because companies around the world are now aware of the fact that Chinese government steals technologies. Also, Chinese government is too late trying to get talents back.
Most of the laowais (expats) that were in Guangzhou, that were in technology, have left in recent years. The only foreigners left are africans trying to eek out a living and English teachers who can't make it anywhere else. You can imagine the reasons why: poisonous air that will give you cancer, poisonous food that will give you cancer, dirty water that will give you cancer, horrendous traffic (and everyone driving around honking and disregarding rules), bad mannered locals (imagine jackhammering at 4am, spitting, elbowing, cutting in lines), censorship, foreigners getting arrested without a reason, expensive rent (compared to quality), no way to be connected to the western internet without VPN (and recently, VPN have been failing as well), no way to talk to families overseas. And this is in the top province in China. Imagine tier 88 or even tier 2 cities. (shudder)
There's no reason to be in China other than to make money, then get the hell out. And that seems to be even harder now with the economy stagnating and everyone blowing bubbles into the real estate.
Thank god I got out of China. Many already have.
- AznHisoka 9y agoWhat if you don't know any English? Should you stay put in China or move to America if you have the chance?
- vtange 9y agoI know many Chinese that manage to live in America with minimal knowledge of English. There are many sizeable Chinatowns and "bubble" communities in America where a Chinese/Taiwanese person could immerse himself/herself in and never really have to deal with English.
- rb2018 9y agoOr move to Taiwan if you have the chance.
- hellofunk 9y agoTaiwan is lovely but still suffers from air pollution. Much of it is local pollution, but some also that drifts over from China. I found it quite challenging when I was there. But the food is great, so there's that.
- dba7dba 9y agoThat same pollution drifts over South Korea as well.
- azemetre 9y agoThe same pollution drifts to Los Angeles. http://www.npr.org/sections/thetwo-way/2017/03/03/518323094/rise-in-smog-in-western-u-s-is-blamed-on-asias-air-pollution http://www.npr.org/sections/thetwo-way/2017/03/03/518323094/...
- nopinsight 9y agoYour story illustrates why they are focusing on pollution control and developing the Social Credit System. "..the Social Credit System will focus on four areas: "honesty in government affairs" (政务诚信), "commercial integrity" (商务诚信), "societal integrity" (社会诚信), and "judicial credibility" (司法公信). Media coverage has thus far focused mostly on the rating of individual citizens (which falls under "societal integrity"). However, the Chinese government‘s plans go beyond that and also include plans for credit scores for all businesses operating in China." https://en.m.wikipedia.org/wiki/Social_Credit_System https://en.m.wikipedia.org/wiki/Social_Credit_System
- shin433333 9y agoChina's too late. China's Debt to ratio is a staggering 833% http://www.baldingsworld.com/2017/10/23/everything-we-think-we-know-about-chinese-finances-is-wrong/ http://www.baldingsworld.com/2017/10/23/everything-we-think-... Why China Lost About $3.8 Trillion To Capital Flight In The Last Decade (FDI was only 1.3T over the same decade, leading to a massive loss) https://www.forbes.com/sites/insideasia/2017/02/22/china-capital-flight-migration/ https://www.forbes.com/sites/insideasia/2017/02/22/china-cap... So no money.....and recently it prevented South Korean companies from withdrawing assets from China. Now companies around the world knows. Who's gonna invest in China now? http://www.businesskorea.co.kr/english/news/national/19352-exodus-china-s-korean-companies-suffering-omnidirectional-retaliations-china http://www.businesskorea.co.kr/english/news/national/19352-e...
- cepth 9y agoI think there's an important distinction missing here. First, NET FDI (foreign direct investment) into China was 1.3 trillion USD over the last decade, not nominal: https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locations=CN https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locat.... FDI is a pretty imperfect measure for a short period of time. If a Chinese company buys foreign assets, say mines in Africa or forests in South America, that counts as a net outflow. In the long run though, those investments may well pay off handsomely. For a rapidly developing country with a high savings rate, there's no inherent reason why Chinese companies investing abroad should be an indication of doom for China. As someone who regularly does business with Chinese companies, it has been my experience that it has never been harder to remove currency from China. It is true that capital controls have become increasingly tight. Edit: Additionally, given the regulatory difficulties of foreign companies investing in China, it's not surprising that outflows of investment by Chinese companies outsize incoming foreign investment into China.
- throw2016 9y agoThis is inevitable in any fast developing economy. There is chaos and there is growth. You will see the exact same conditions in western economies when they developed. Its because they offer opportunity that people flock there. And China has 1.3 billion to deal with, this will challenge any government to an extent that cannot be underestimated or brushed aside.
- whooshee 9y agoNot many people on this thread are thinking or have a basic Empathy like you do, China is still not 'stable'.It's still on a fast track. There are problems need to be addressed. But If you look it via History scope. It's has mainly done well.
- dmoy 9y agoYea I think we in the West are too quick to forget our rampant corruption and pollution directly after our industrial revolutions. It'll take China awhile to catch up in livability, but they'll get there once they get richer.
- Gustomaximus 9y agoI really dislike this the west got to pollute while developing so other countries should be able to also mentality. It's apple and oranges. People then didn't have technologies to choose like we do, didn't realise the impact of pollution, nor did things on the scale we are today. Its cherry picking the bits the want for an economic advantage. If countries want to use the 'they polluted before' argument then they should go back to steam trains and gas lighting etc. Otherwise maybe the west will say look at what they did to get economic growth, now its our turn... Sorry for the rant but I find this such a poor excuse. All countries should be held to better standards. We seem to forget a key component of capitalism is for the government to create a level playing field. And ability to pollute (or not) the enviroment should be a global tenant for all who engage in the open market.
- whatyoucantsay 9y ago
- kamaal 9y agoSeems pretty much like India. Same issues. I think that will be with any country aiming for a very high rate of growth. Rapid progress is often chaotic.