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Your story illustrates why they are focusing on pollution control and developing the Social Credit System. "..the Social Credit System will focus on four areas

Your 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 ago
China'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 ago
  I 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.
  - ehllo 9y ago
    if someone is interested in the actual situation, the following videos are a good starting point Davos 2017 - China's Pivot to World Markets https://www.youtube.com/watch?v=D8HsNfQIZQs https://www.youtube.com/watch?v=D8HsNfQIZQs Davos 2017 - Strategic Update: The Future of Energy https://www.youtube.com/watch?v=7wvln5Ce_Sk https://www.youtube.com/watch?v=7wvln5Ce_Sk
- whooshee 9y ago
  Just for your info, China has been said to crush by the west media for over 30 years or even longer since PRC founded.
  - majormajor 9y ago
    China's also been said to be an unstoppable juggernaut that will rule the world for the next century by western media. Funny, that.
- tim333 9y ago
  That 833% figure is for financial assets and gives the UK's figure at 1008%. It just indicates that banks are doing loan swaps and the like. The semi communist system actually makes China quite stable. In the west if the mortgage holders can't repay the bank kind of goes bust, in China the government would just lend it more money. Well... I guess the west bails out too but more so in China I think.
bsenftner 9y ago
These four areas are quite interesting. Each defines a specific role a person holds in society. If nothing other than adopting formalized views and conversations along these roles, the West would benefit. The US appears to be failing in all of them, in aggregate.

shin433333 9y ago

China'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 ago
I 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.
- ehllo 9y ago
  if someone is interested in the actual situation, the following videos are a good starting point Davos 2017 - China's Pivot to World Markets https://www.youtube.com/watch?v=D8HsNfQIZQs https://www.youtube.com/watch?v=D8HsNfQIZQs Davos 2017 - Strategic Update: The Future of Energy https://www.youtube.com/watch?v=7wvln5Ce_Sk https://www.youtube.com/watch?v=7wvln5Ce_Sk
whooshee 9y ago
Just for your info, China has been said to crush by the west media for over 30 years or even longer since PRC founded.
- majormajor 9y ago
  China's also been said to be an unstoppable juggernaut that will rule the world for the next century by western media. Funny, that.
tim333 9y ago
That 833% figure is for financial assets and gives the UK's figure at 1008%. It just indicates that banks are doing loan swaps and the like. The semi communist system actually makes China quite stable. In the west if the mortgage holders can't repay the bank kind of goes bust, in China the government would just lend it more money. Well... I guess the west bails out too but more so in China I think.

bsenftner 9y ago

These four areas are quite interesting. Each defines a specific role a person holds in society. If nothing other than adopting formalized views and conversations along these roles, the West would benefit. The US appears to be failing in all of them, in aggregate.