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Removing China’s “Startup Debt”

2 points by ceohockey60 5y ago

gscott 5y ago
There are some issues with this: 1. Reduce the ability for students to get tutoring, but leaving all of the reasons they wanted tutoring the same. https://www.scmp.com/news/people-culture/social-welfare/article/3158033/prominent-economist-father-questions-merit https://www.scmp.com/news/people-culture/social-welfare/arti... 2. Limiting the ability of home construction companies to raise money but now they can't finish the homes they have already sold: https://www.reuters.com/world/china/unfinished-evergrande-apartments-central-china-buyers-seek-answers-2021-09-17/ https://www.reuters.com/world/china/unfinished-evergrande-ap... 3. The data security law issues No one knows now where boats are, like giant tankers when they are near china https://www.bakerdatacounsel.com/data-privacy/is-chinas-personal-information-protection-law-contributing-to-the-global-supply-chain-snafu/ https://www.bakerdatacounsel.com/data-privacy/is-chinas-pers... It is hard to run a ride hailing service if you can't store data on the users. For example their names and where they have gone. https://thechinaguys.com/didi-security-data-law-chuxing-china-tech-stock/ https://thechinaguys.com/didi-security-data-law-chuxing-chin... These changes should be viewed with other changes 1. sinicization of religions https://www.globaltimes.cn/content/1141560.shtml https://www.globaltimes.cn/content/1141560.shtml 1. Church demolitions even when the church had permits and built to code 1a. https://www.google.com.hk/search?q=church+cross+on+fire+china&source=lnms&tbm=isch&sa=X&ved=2ahUKEwi-xN7xwqX1AhV6ITQIHZo0BrwQ_AUoAXoECAEQAw&biw=1440&bih=775&dpr=1 https://www.google.com.hk/search?q=church+cross+on+fire+chin... 1b. https://www.npr.org/2021/10/24/1047054983/china-muslims-sinicization https://www.npr.org/2021/10/24/1047054983/china-muslims-sini... 1c. https://www.globaltimes.cn/content/855208.shtml https://www.globaltimes.cn/content/855208.shtml 1d. forced marriages between Han men and Uyghur women https://www.taiwannews.com.tw/en/news/3442256 https://www.taiwannews.com.tw/en/news/3442256 There is too much more. but when viewed as a whole this is just the CCP party showing that the Chinese constitution is meaningless and grabbing power by putting a knife to it's own businesses throat for a power grab. Is Didi really misusing information? I doubt it. When Facebook looks to remove technical debt they try to replace that debt immediately with something better. They just don't delete bad code and say hey the debt is gone. They are wanting to mitigate the problems of the bad debt by replacing it with something better. This is more likely a shakedown for money through fear. Normally this is done through taxation but in China they prefer to boot to the throat method (or the skin off method https://www.theartnewspaper.com/2021/01/25/executed-chinese-prisoners-likely-used-in-uk-exhibition https://www.theartnewspaper.com/2021/01/25/executed-chinese-...): https://www.forbes.com/sites/ywang/2021/08/26/chinas-tech-giants-are-giving-away-their-money-to-avoid-beijings-wrath/?sh=2668d68f3485 https://www.forbes.com/sites/ywang/2021/08/26/chinas-tech-gi... https://www.globaltimes.cn/page/202108/1231990.shtml https://www.globaltimes.cn/page/202108/1231990.shtml

2 points by ceohockey60 5y ago

There are some issues with this: 1. Reduce the ability for students to get tutoring, but leaving all of the reasons they wanted tutoring the same. https://www.scmp.com/news/people-culture/social-welfare/article/3158033/prominent-economist-father-questions-merit https://www.scmp.com/news/people-culture/social-welfare/arti... 2. Limiting the ability of home construction companies to raise money but now they can't finish the homes they have already sold: https://www.reuters.com/world/china/unfinished-evergrande-apartments-central-china-buyers-seek-answers-2021-09-17/ https://www.reuters.com/world/china/unfinished-evergrande-ap... 3. The data security law issues No one knows now where boats are, like giant tankers when they are near china https://www.bakerdatacounsel.com/data-privacy/is-chinas-personal-information-protection-law-contributing-to-the-global-supply-chain-snafu/ https://www.bakerdatacounsel.com/data-privacy/is-chinas-pers... It is hard to run a ride hailing service if you can't store data on the users. For example their names and where they have gone. https://thechinaguys.com/didi-security-data-law-chuxing-china-tech-stock/ https://thechinaguys.com/didi-security-data-law-chuxing-chin... These changes should be viewed with other changes 1. sinicization of religions https://www.globaltimes.cn/content/1141560.shtml https://www.globaltimes.cn/content/1141560.shtml 1. Church demolitions even when the church had permits and built to code 1a. https://www.google.com.hk/search?q=church+cross+on+fire+china&source=lnms&tbm=isch&sa=X&ved=2ahUKEwi-xN7xwqX1AhV6ITQIHZo0BrwQ_AUoAXoECAEQAw&biw=1440&bih=775&dpr=1 https://www.google.com.hk/search?q=church+cross+on+fire+chin... 1b. https://www.npr.org/2021/10/24/1047054983/china-muslims-sinicization https://www.npr.org/2021/10/24/1047054983/china-muslims-sini... 1c. https://www.globaltimes.cn/content/855208.shtml https://www.globaltimes.cn/content/855208.shtml 1d. forced marriages between Han men and Uyghur women https://www.taiwannews.com.tw/en/news/3442256 https://www.taiwannews.com.tw/en/news/3442256 There is too much more. but when viewed as a whole this is just the CCP party showing that the Chinese constitution is meaningless and grabbing power by putting a knife to it's own businesses throat for a power grab. Is Didi really misusing information? I doubt it. When Facebook looks to remove technical debt they try to replace that debt immediately with something better. They just don't delete bad code and say hey the debt is gone. They are wanting to mitigate the problems of the bad debt by replacing it with something better. This is more likely a shakedown for money through fear. Normally this is done through taxation but in China they prefer to boot to the throat method (or the skin off method https://www.theartnewspaper.com/2021/01/25/executed-chinese-prisoners-likely-used-in-uk-exhibition https://www.theartnewspaper.com/2021/01/25/executed-chinese-...): https://www.forbes.com/sites/ywang/2021/08/26/chinas-tech-giants-are-giving-away-their-money-to-avoid-beijings-wrath/?sh=2668d68f3485 https://www.forbes.com/sites/ywang/2021/08/26/chinas-tech-gi... https://www.globaltimes.cn/page/202108/1231990.shtml https://www.globaltimes.cn/page/202108/1231990.shtml