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I just went to ww.com, clicked translate and it said the following (originally in Chinese) "Your domain name is for sale. A good domain only have the economic
by crisnoble 12y ago
I just went to ww.com, clicked translate and it said the following (originally in Chinese) "Your domain name is for sale.
A good domain only have the economic strength and strategic vision of the business or individual reservations!"
Was this what jacquesm had on there or is this post aquisition? For some reason I found it quite funny.
- jacquesm 12y agoYes, it's funny, and that's post acquisition. Let me explain what drives this process. The buyer here is a Chinese company that somehow magically can move millions of $US to the other side of the world. Most Chinese companies, even those that have lots of $US can not do that, they run into the $50K/year barrier that the Chinese central bank has set up. So by buying domains abroad and then offering them to Chinese buyers that can not move their $ outside of China these people will make a substantial profit on their deal. And I don't think it takes too much imagination to figure out why they can move money out of China when everybody else can not.
- samstave 12y agoCorruption?
- jacquesm 12y agoMore or less, yes. My take on this is that if they allowed people to wire all that money back out for goods that it would turn out that not all the money is there anymore. It's very nice to look at all your dollars in a Chinese bank account when you can't do anything with them unless you go through the 'happy few'. Think of the effect a bank run would have if all those people demanded to actually see their dollars ostensibly kept in Chinese dollar accounts. That would have some interesting effects, but I hope the day will not come while I'm alive.