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In 2006, during my second of many trips to China, I had the chance to have dinner with a banker in Beijing. A quintessential 洋鬼子, I was stunned to learn at the
by rrggrr 8y ago
In 2006, during my second of many trips to China, I had the chance to have dinner with a banker in Beijing. A quintessential 洋鬼子, I was stunned to learn at the time that many of the loans being underwritten were based on valueless collateral and I expected the correction and liquidation of the century to occur any day. Almost 13 years later and I am still waiting for the correction. I know its coming, and I know it will be epic, but I can't tell you when. I view recent disappearances in China and various crackdowns on dissent as indicators the time is near.
- agumonkey 8y agowhich disappearances ?
- smitty1110 8y agoThe Interpol guy is a good example.
- denom 8y agohttps://www.nytimes.com/2018/12/08/opinion/sunday/lu-guang-photographer-missing-china.html https://www.nytimes.com/2018/12/08/opinion/sunday/lu-guang-p... “For five weeks, the world has had no idea where Lu Guang is.”
- cauldron 8y agoOr 洋人 、 洋大人 I think there's an important aspect of China is that the gov just has so many tools to sway the economy, and status quo will always be tolerated and supported as long as there are enough people are benefitting from it. People has been worrying about the housing bouble for a decade now, but in China, the gov owns all city land, can dictate land price and supply，control condo price，it's like the perfect tool, it keeps enough people happy since the price is always rising at major cities, it keeps people loyal cause your fortune are on it, and it absords most of the money non-stop printed to prop up the Chinese economy.