A wave of violent unrest in urban areas of China over the past three weeks is testing the Communist Party’s efforts to maintain control over an increasingly complex and fractious society, forcing it to repeatedly deploy its massive security forces to contain public anger over economic and political grievances.
Expect more riots when China’s Credit Bubble pops exposing mountains of fraud
I can truthfully say I never thought investment in Chirer was a good idea for *anyone*.
if it’s a really good company the communist officials will simply nationalize it under the guise of state policy.
if not, look for signs of fraud committed *by* those same officials who know it’s a shell.
But Thomas Freidman (economic genius, just ask him) said we should all be like China.
China is a hotbed of corruption. Rules are ignored and the focus is on each individual getting whatever they want, however they want it. It is brutal, cut-throat, self-focused, self-interested..and corruption is an aid to the satisfaction of those individual agendas. And the individual agenda is: money.
The purchase of luxury western items is ‘hot’. For Chinese, the focus is on image – and it’s vital to show your family and friends that you are ‘on top’. So, you drive the BMW; you have the Vuitton suitcases, you have the 52″ TV..and so on.
Government is ignored except as a requirement to bribe the government officials. So – if you want a visa, you must take the visa officer out to dinner. [Yes – I know of such examples!]. Bribing goverment officials is viewed as a necessary part of the act of business.
China has never really been centralized. It’s a vast geographic terrian, with many ecological variations – from a tropical to a northern climate, and the people themselves are as diverse. Local languages are local – and can’t be understood 200 miles away. Plus, the focus is local rather than national.
China is not interested in equality or socialism or communism! Only the old guard in Beijing think about that…and that rhetoric is empty; it’s only to cover up their remaining in power.
Interesting ET.
Expect a sudden rash of suicides and executions as a result of the credit bubbles and fraud.
China is also a growing hotbed of unionization, with massive numbers of people organizing and demanding a fair share, from a government that abhors such social movements, especially economic. If China were forced, by the popular demand of hundreds of millions, to adopt the guarantees that unionization promises, then the biggest domino will have fallen and the rest of the world will follow.
It is interesting that in by-passing unions, here in the west, through global free-trade, the table maybe set, by its largest benefactor, China, for global unionization. How wonderfully ironic!