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  1. #1576
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    UK politicians as sensational and low-class as the country’s tabloids

    Worth preserving for posterity.

  2. #1577
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by bsnub View Post
    So more crap propaganda then.
    That's all these brown nosers post.

  3. #1578
    Thailand Expat David48atTD's Avatar
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    Jul 20, 2022 China's economy is under huge pressure on multiple fronts and people are getting nervous.
    The country's COVID-zero policy and harsh lockdowns have had a severe impact, and the nation's once booming property market is in a massive slump.
    Mattie Bekink, China director of The Economist Intelligence Corporate Network, tells The World China's slowing growth has been building for some time.

    Someone is sitting in the shade today because someone planted a tree a long time ago ...


  4. #1579
    Thailand Expat OhOh's Avatar
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    The "View From China". Old news but the graph suggests progress.

    The View, from China-xinjiang-progress-jpg

  5. #1580
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    It's genocide, I tell ya.

  6. #1581
    Thailand Expat harrybarracuda's Avatar
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    Wanketeer circle jerk in full flow.

  7. #1582
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    Quote Originally Posted by harrybarracuda View Post
    Wanketeer circle jerk in full flow.
    The streets of China are paved with gold?

    Fools gold if you believe Sabang!

    Cujo gets about as close as you want to be with the truth about lockdowns.

  8. #1583
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    China has every reason to worry about the state of democracy in the US

    China on Monday issued "The Report on Human Rights Violations in the United States in 2021."(henceforth called “the HR Report”). Before looking at its content, an important observation about “whataboutism” needs to be made: whatever one may think about human rights in China, that doesn’t mean the accusations in the HR Report aren’t correct and shouldn’t be taken seriously. The US has for years, even decades been vehemently accusing China of human rights violations, but such accusations by the US do not make the US immune against foreign criticism.

    The US democracy is in a severe crisis, and the HR Report makes the observation, that only 7 percent of surveyed Americans viewed the United States as a "healthy democracy," and 52 percent believed that the American democracy is either "in trouble" or "failing." To reply by pointing at the state of democracy in China is not just deflecting with whataboutism, it also ignores actual research findings: according to the Democracy Perception Index by the “Alliance of Democracies” – an organization founded by ex-NATO general secretary Anders Fogh Rasmussen – about 70% of Chinese respondents say, China has the right amount of democracy, while 14% would hope for more democracy in China. In the USA a meagre 49% find there’s enough democracy, with 28% demanding more. This question does not take into account, how people define democracy when answering the question. But it is ultimately for each country’s own population to decide, whether they consider their own system democratic or not, irrespective of why.

    But things get worse for those who thought US democracy superior to Chinese democracy: how many people think their own government only acts in the interests of a minority? In China that’s just above 10%, while in the US around 60% think so. A democratic government by definition must act in the interest of the people. If the people think the government only serves a minority, then democracy has a problem. Especially if that is not just a perception, as in the Democracy Perception Index, but also provable by statistical analysis:

    Harvard Professor Lawrence Lessig makes the case that our democracy has become corrupt with money, leading to inequality that means only 0.02% of the United States population actually determines who's in power, in a from 2015. Those are the 0.02% with enough money to make substantial donations during primaries in the US Democratic and Republican Parties. He cites a Princeton study, which found a strong correlation between the opinions of economic elites and special interest groups with the actual outcomes of the governing processes, while the opinions of the general population had no statistical influence on the outcome of policy decision making. Let me repeat: in the US, statistically proven, the opinions of the majority of the people has no influence on the outcomes of government decisions whatsoever.

    And nothing indicates that things would have improved since 2015, on the contrary as the HR Report emphasizes: In 2021, 49 states in the United States introduced more than 420 bills that would restrict voting. These bills either reduced the amount of time voters have to request or mail in a ballot, restricted the availability of drop-off locations, imposed stricter signature requirements for mail-in voting, or enacted new and stricter voter-ID requirements, which made mail-in voting and early voting harder and built barriers for the elderly, disabled, minorities and other groups to exercise their voting rights.

    Moreover, while one may disagree with the statement, one should be very well aware, that according to repeated studies by the University of Massachusetts, a vast majority (about 75%) of the opposition Republicans are convinced their current president isn’t legitimate. The very purpose of democracy is to give legitimacy to the government. Even when objectively no evidence of fraud was found, in the eyes of the supporters of the US opposition, the current government is not legitimate, and this perception has not shifted over the course of the first year of Biden’s presidency. The HR Report quotes a study by Pew Research finding that only 22 percent (of US Americans) said they can trust the government to do what is right "most of the time."

    China has never claimed to be a perfect democracy, in fact the government has made the improvement of socialist democracy in China an increasing priority over the last years, as democracy is included as one of the 12 core values of Chinese socialism. China has over the decades shown great ability in learning from other countries, be it market economy, governance, or other aspects of a political system. But given all the findings about the current state of the US democracy, it is inconceivable why China would even want to learn about democracy from the US in 2021. The question must be asked, what the US can learn from China, to increase its government’s legitimacy and the confidence of the people in their country’s democracy.

    https://en.gmw.cn/2022-03/17/content_35598345.htm

  9. #1584
    Thailand Expat harrybarracuda's Avatar
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    China has never claimed to be a perfect democracy, in fact the government has made the improvement of socialist democracy in China an increasing priority over the last years, as democracy is included as one of the 12 core values of Chinese socialism.

    etc.
    The next post may be brought to you by my little bitch Spamdreth

  10. #1585
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    Did you use your wanking hand for that gratuitous amount of laughies? Impressive.

  11. #1586
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    Did you use your wanking hand for that gratuitous amount of laughies? Impressive.
    What's a "wanking hand"? It seems this is a subject on which you might be an expert.

  12. #1587
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    Congrats to the team from China on winning the 2022 International Mathematical Olympiad.With all 6 team members scoring full marks, 100%Making China by far the most successful nation in the competition history.







    Also, congrats to the girls team from the USA
    These Americans won the European Girls' Mathematical Olympiad





    https://twitter.com/obsidianstatue1/...et_type%3Dpost

  13. #1588
    Thailand Expat OhOh's Avatar
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    ^

    Useful skill, in many spheres of life.


    China-built bridge set to open for traffic in Croatia


    By CHEN YINGQUN | CHINA DAILY | Updated: 2022-07-26 06:56

    The View, from China-62df2e84a310fd2bec9866ed-jpeg

    A bridge crane hoists the last piece of the Peljesac Bridge into place in Croatia on July 28 last year. The bridge opens to traffic on Tuesday, allowing commuters to significantly reduce their travel time. XINHUA
    "The Peljesac Bridge, which opens for traffic on Tuesday, will deepen mutually beneficial relations between China and Croatia and the European Union, a senior diplomat said.

    Qi Qianjin, the Chinese ambassador to Croatia, told Xinhua News Agency in a recent interview that the bridge is a prominent project for promoting Chinese equipment, technology and knowhow in the construction industry in Croatia and globally.

    Qi added that the bridge, which is the largest infrastructure project undertaken so far by China in Croatia, is a symbol of good cooperation between China and Europe.

    The bridge connects the Croatian mainland with the Peljesac Peninsula of its southernmost Dubrovnik-Neretva County, bypassing a short strip of land belonging to Bosnia and Herzegovina, and giving Croatia its long-awaited territorial integrity and improved access to the area.

    Croatian Prime Minister Andrej Plenkovic said that the 2.4-kilometer-long bridge, along with access roads, cost 525 million euros ($538 million), of which 357 million euros was in grants from European Union funds.

    A Chinese consortium led by China Road and Bridge Corp won the bid to build the Peljesac Bridge and its access roads in 2018. Construction of the bridge started in July 2018 and was completed on time, despite the adverse impact of the COVID-19 pandemic.

    Qi said that the project greatly contributed to economic growth in Croatia and more broadly in Europe, as it employed over 250 local people, while it also helped to cultivate engineering, technical and management skills, thus effectively driving the development of local enterprises and promoting Croatia's economic and social development.

    A total of 18 design and consulting enterprises and 45 construction companies in the EU, as well as 112 global equipment and material suppliers, participated in the project."

    Continues at:

    China-built bridge set to open for traffic in Croatia - World - Chinadaily.com.cn
    Last edited by OhOh; 26-07-2022 at 12:35 PM.
    A tray full of GOLD is not worth a moment in time.

  14. #1589
    Thailand Expat OhOh's Avatar
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    China's new intl land-sea corridor expands trade with ASEAN, with goods transported up 30% in H1 2022


    By Global Times Published: Jul 25, 2022 06:47 PM

    "The New International Land-Sea Trade Corridor saw goods transported jump 30 percent year-on-year in the first half of the year, as the passage has become an important channel linking China with the Association of Southeast Asian Nations (ASEAN).

    Experts said on Monday that the corridor will play a larger role in strengthening trade cooperation, suggesting jointly building industrial parks and strengthening data sharing to drive regional economic upgrading.

    The corridor transported 216,000 standard containers of goods in the first half of 2022, up 30.3 percent year-on-year, according to data released at the 4th Western China International Fair for Investment and Trade, which closed in Southwest China's Chongqing city on Sunday.

    The corridor was jointly built by provincial-level regions in western China and ASEAN members, with Chongqing serving as its operations center and goods sent via various transport means including rail, road and water. Currently, the passage has expanded to linking with 319 ports in 107 countries and regions.

    According to a report released by the Ministry of Commerce at the fair, Chinese provinces and municipalities along the corridor saw their import and export volume with Southeast Asian countries continuously grow over the past five years, from $58.9 billion in 2017 to $107.7 billion in 2021, and the categories of items transported expanded to over 640 from around 50.

    "The transport mode combining railway and sea shipment is convenient in that it saves travel time and costs, and attracts customers from countries and regions along the route. As far as I know, Vietnam actively contacted Chongqing in joining the corridor," Xu Liping, a research fellow on Southeast Asian studies at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Monday.

    By giving play to the comparative advantages of economies, the New International Land-Sea Trade Corridor now serves as a new momentum for the joint development of the [China-proposed] Belt and Road Initiative (BRI), Xu said."


    Continues at:

    China's new intl land-sea corridor expands trade with ASEAN, with goods transported up 30% in H1 2022 - Global Times

  15. #1590
    Thailand Expat David48atTD's Avatar
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    A massive sandstorm hit northwestern China's Qinghai province recently.

    Sandstorm sweeps through China's Haixi region

  16. #1591
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    1,642,624 views Jul 22, 2022 Part 1 of China's Bank run :
    First video will talk about how banks got here and how it all started to crumble.

  17. #1592
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    China's mortgage boycott is escalating. Now Evergrande suppliers have stopped paying bank loans

    A fast-growing mortgage boycott across dozens of cities in China has prompted some property suppliers to cease their bank loan repayments, raising fears the escalating situation could trigger a further downward spiral in the sector and even threaten the country's financial stability.

    Key points:
    • Some suppliers to defaulting developers, such as Evergrande, are refusing to make loan repayments
    • It comes after a mass mortgage strike from homebuyers across the country
    • China's economy is already facing downward pressure due to COVID lockdowns


    Hundreds of landscapers, sculpture-makers and construction companies have expressed their anger that they have been bled dry because some debt-saddled developers did not pay their bills while they continued to service or help build apartments, Chinese media Caixin reported.

    China'''s mortgage boycott is escalating. Now Evergrande suppliers have stopped paying bank loans - ABC News

  18. #1593
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    China plans real estate fund worth up to $44 billion for distressed sector -source

    China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.

    The move would mark the first major step by the state to rescue the beleaguered property sector since the debt troubles became public last year.

    The size of the fund would initially be set at 80 billion yuan through support from the central bank, the People's Bank of China (PBOC), the person, who declined to be identified due to the sensitivity of the matter, told Reuters.

    He said state-owned China Construction Bank will contribute 50 billion yuan into the 80 billion yuan fund, but the money will come from PBOC's relending facility.

    If the model works, other banks will follow suit with a target to raise up to 200 to 300 billion yuan, he added.

    A key pillar of the world's second-largest economy, China's property sector has been lurching from one crisis to another, and has been a major drag on growth over the past year. A revolt by homebuyers this month heaped more headache for authorities.

    Some analysts said a fund would only provide part of the solution.

    "We don't know details of the fund yet. If just 80 billion it's not enough to solve the problem," said Larry Hu, chief China economist at Macquarie. "I believe the fund would be part of the bigger package to solve the current debt and mortgage crisis, because it alone would not solve all the problems ... we need a real estate recovery."

    Reuters has reached out for comment from China Construction Bank, the PBOC and China's cabinet, the State Council.

    China plans real estate fund worth up to $44 billion for distressed sector -source

  19. #1594
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
    Or, as the rest of the world calls it, a chinky government bail out.

  20. #1595
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    What made you stop trusting the international media?

    Top cause was coverage of Hong Kong, followed by the US invasion of Iraq in 2003, say respondents to a social media tweet that quickly turned into a fast-growing discussion

    FASCINATING DISCUSSION HAPPENING on social media at the moment. It started last week with Twitter user Leon Lu posing a question: “When did you lose trust in the western media? For me, it was during the Hong Kong riots.”

    “Same here,” said Daniel Yang, a software engineer.

    Hundreds of people liked, shared and commented, with answers ranging from “the Iraq war”, which started with non-existent “weapons of mass destruction”, to the clearly invented fairy tales about North Korea.

    Hong Kong top choice

    But the majority of responders said it was the reporting of the 2019 civil unrest in Hong Kong that opened their eyes to the untrustworthiness of the media.

    Leon Lu said he remembered “watching the CNN reporter wearing a helmet hiding behind a wall of fully geared rioters hurling Molotovs while screaming to the camera ‘these peaceful protesters…’!” He said it was “otherworldly” but at the same time both shocking and hilarious.

    Fat Miew, a chef, agreed. “When what you see actually happening in the street in front of your house is so different from what is reported in the media, it makes you question a lot.”

    Viola, a Chinese-American, Mora G., and many others, said the false coverage of the Hong Kong story in 2019 made them realise they couldn’t trust news reports.

    “We saw it with our own eyes”

    Many chimed in with similar comments. Mason C. said he withdrew trust when he saw “Western media saying it was peaceful while there were riots, and firebombs being thrown at police. We saw it with our own eyes.”

    “Same here,” said a user who goes under the name Mockingjay, born in pre-1997 Hong Kong. “In 2019, I realised the Western media was not trustworthy; I actually felt stupid having been manipulated by them for years.”

    That was also the key date for SK Boz, a video editor. He said: “Yeah, same here… made me wonder about what we’re being told for every other country too.” His new-found skepticism made him suspicious about other news coverage and how it changes suddenly. “It’s weird how they’ve just ghosted [halted coverage of] Myanmar after they found their audience is more interested in white people getting killed in Ukraine.”

    Immigrant shops trashed

    Although the Hong Kong protests started with large, mostly peaceful marches in June of 2019, the non-violent demonstrators quickly withdrew as a violent faction, rich, well-organised, and equipped with vast amounts of specialist gear, took control. By July, Hong Kong people watched in horror as violent thugs regularly marched down the street trashing restaurants and shops owned by mainland immigrants – while the BBC and the New York Times painted them as noble heroes. Revelations about millions of US dollars used to fund the protests went almost entirely unreported.

    Mi Katoschka was another person horrified by coverage of the Hong Kong protests. “Now I don’t even believe anything they say. Including non-China related stuff.” Marco Maiocchi agreed: “Many of us were radicalised by that event.”

    Ho Ho Chan said he was “late for the wake-up call” because it was “not until the tail end of the 2014 Occupy Central ‘unrest’ that he realised that a false narrative was being presented to the world. “My family had a close encounter with some ‘protestors’ which led to a physical altercation; that incident really opened my eyes to how ‘peaceful’ and ‘spontaneous’ those protests were … NOT.”

    Trust lost worldwide

    Trust was lost outside Hong Kong too, said Tan Yan-yee. “Westerners increasingly don’t trust their own media due to the constant lies.”

    Yet the fall in China’s reputation in most countries of the world show that the sheer volume of negative news has had a harmful effect on the people of this region.





    Some respondents said there were individuals, even in Hong Kong, who still follow the western narrative and blame the victims, such as police officers, whose reputation was unfairly blackened. “I still can’t understand how some of my ‘friends’ who live in Hong Kong, still can’t see how the media manipulated the riot in 2019,” said Charlie Chow. “They are still blaming the government and police.”

    Palestine and Corbyn

    But some pointed to other news events. Curt McArdle, a British teacher, said he was turned off the mainstream press by the biased coverage of Israel-Palestine clashes, and the awful treatment of one-time Labor leader Jeremy Corbyn. With regard to China, he realised just how false the mainstream media narrative was when he read “their reporting on the ‘crackdown’ on Mongolian language and culture”. This was later shown to be entirely fictional.

    Several said they had changed their minds much earlier than 2019. Jiu Shijiu said he stopped trusting the press “long before that… the Hong Kong riots just pushed [the distrust] to new heights.”

    Iraq and Ukraine coverage wildly unbalanced

    For many people living outside Hong Kong, the US invasion of Iraq under false pretences, with the media as cheerleaders, was the key issue. The media relentlessly and viciously condemns countries which invade others (see Russia) but gave a totally free pass to the west when it invaded Iraq to punish the leaders for holding weapons of mass destruction – but they had none, and had repeatedly pointed this out. Events in Ukraine have had similarly unfair and unbalanced coverage since 2013.

    Lyon Winchester said: “I’ve been skeptical since the Iraq war but became certain that they couldn’t be trusted in 2014 when my ex living in Odesa refuted the claims in western media.”

    C.V. Neuves said he lost faith in 2013 watching coverage of the protests in Maidan, Ukraine. “That’s when they started lying openly.”

    Covid, Libya and Syria

    Covid coverage was the key issue for several people, who lost faith more recently. Robert Bazin said: “It started from the Hong Kong riot and went to a peak after the pandemic started.”

    Others were horrified to learn the unreported factors below the surface of world events. Aaron C. Douglas said that for him, it was when he learned that the “Libya and Syria wars were financed by the USA and the EU.”

    Karyna Morris, a mother of four from Cornwall in the UK, said: “My faith in mainstream media was already shaky after the invasion of Iraq but I never trusted it again when it lied about Libya and the so called ‘no fly zones’. I never watched it again after that.”

    Xinjiang and Huawei

    Some respondents said issues such as the false reporting about phones from Huawei raised their awareness and caused them to start looking for other sources of information, such as Quora and Twitter, where they could hear from ordinary people, without the news being made to fit the agenda of the west by journalists working as pro-NATO propagandists.

    For others, the wild stories about millions of people in “concentration camps” in Xinjiang, China’s most popular travel destination, made trust impossible. “Before the Xinjiang ‘genocide’, I believed 50 per cent of news from the western media,” said GH. “Now: one per cent.”

    Tiananmen Square

    The story about ten thousand students being machine-gunned to death in Tiananmen Square in 1989 has been repeatedly shown to be a creation of western intelligence services, who no longer hide that fact. Yet the media continue to repeat it.

    Jimmy Kudo said: “The Western media has been lying about China since 1989. They keep saying the students were killed, where witnesses who were IN the square at that time saw no corpses.” At the same time, the west has been involved in numerous genuine massacres where many more people died, but those are simply never mentioned.

    Warren See, a Singaporean, said he lost faith in 2015 “when I saw what they did to Bernie [Sanders] and started to wonder what else they lied about especially on international news. Finding out Tank Man wasn’t run over by the tank was the last straw.”

    Misrepresentation continues

    But false coverage of Hong Kong, painted as dead when it clearly is not, was the most popular choice as a catalyst for loss of faith. The mainstream media continues to mislead in its coverage of the city. “It has only gotten worse,” said Taro Taylor, a lawyer.

    Mitch Kowalski said he agreed 100 per cent. “Just when you think they can’t get worse – they do,” he said.

    As people lose faith in mainstream media, and opportunities to travel return, there may be hope for a peaceful future, some respondents said. Howan Cheung, who travels between Europe and China, said: “The more you travel, the less sense the western media makes.”

    This article was posted in Fridayeverday in HongKong on 22 July 2022

    What made you stop trusting the international media? - Pearls and Irritations

  21. #1596
    Guest Member S Landreth's Avatar
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    What’s the Chinese translation for “Idiot. Fuckin’ diversify”?


    • Asia’s richest woman loses half her $24bn fortune in China property crisis


    Asia’s richest woman has lost more than half her fortune over the past year as the crisis gripping China’s real estate sector continues to worsen, the Billionaires Index showed on Thursday.

    Yang Huiyan, the majority shareholder of China’s largest real estate developer Country Garden, is down more than 52% to $11.3 billion from $23.7 billion a year ago, according to the Bloomberg Billionaires Index.

    In a sign that the crisis is spreading to developers previously seen as trustworthy, Yang’s fortunes were hit hard on Wednesday when shares in Hong Kong-listed Guangdong-based Country Garden tumbled 15% after the company announced it would sell new shares. raise cash.

    Yang inherited her fortune when her father, Country Garden founder Yang Guoqiang, transferred his shares to her in 2005, state media reported.

    She became Asia’s richest woman two years after a Hong Kong property developer’s initial public offering.

    But now she barely holds the title, with chemical fiber magnate Fang Hongwei coming in second with $11.2 billion on Thursday.

    Chinese authorities cracked down on over-indebtedness in the real estate sector in 2020, causing big players like Evergrande and Sunac to struggle to make payments and forcing them to renegotiate negotiations with creditors as they were on the brink of bankruptcy.

    Buyers across the country, furious at the backlog of construction and the delay in the delivery of their properties, have begun withholding mortgage payments on homes sold before completion.

    While Country Garden remained relatively unscathed from the industry turmoil, it spooked investors with Wednesday’s announcement that it plans to raise more than $343 million in stock sales, in part to pay off debt.

    Proceeds from the sale will be used to “refinance existing offshore debt, general working capital and future development goals,” Country Garden said in a statement to the Hong Kong Stock Exchange.

    China’s banking regulator has urged lenders to support the real estate sector and meet firms’ “reasonable funding needs” as analysts and policymakers fear financial contagion.

    The real estate sector is estimated to account for 18-30% of the country’s GDP and is a key growth driver for the world’s second largest economy.

    Analysts have warned that the industry is caught in a “vicious cycle” that will further undermine consumer confidence following the release of dismal second-quarter growth figures that were the worst since the start of the Covid-19 pandemic.

    ___________

    Last month, Moody’s Investors Service downgraded Country Garden’s credit rating to junk and changed its outlook to negative, citing a deteriorating financial position and weakened access to long-term funding.
    Last edited by S Landreth; 28-07-2022 at 03:04 PM.
    Keep your friends close and your enemies closer.

  22. #1597
    Thailand Expat David48atTD's Avatar
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    Quote Originally Posted by sabang View Post
    What made you stop trusting the international media?
    This article was posted in Fridayeverday in HongKong on 22 July 2022
    Q/ What made you stop trusting the international media?
    A/ Nothing, some with a grain of salt though.

    But as for alerting my bullshite filter ... it's Fridayeveryday
    ‘What made you stop trusting the international media?” – Fridayeveryday

    That ground breaking article, which was posted more than a week ago has scored a mind boggling 22 Shares ...

  23. #1598
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    Quote Originally Posted by sabang View Post
    Congrats to the team from China on winning the 2022 International Mathematical Olympiad.
    Never heard of it and there IS a reason why...

    The first IMO was held in Romania in 1959. Since then it has been held every year except in 1980. That year, it was cancelled due to internal strife in Mongolia.[7] It was initially founded for eastern European member countries of the Warsaw Pact, under the USSR bloc of influence, but later other countries participated as well.[2] Because of this eastern origin, the IMOs were first hosted only in eastern European countries, and gradually spread to other nations.[8
    https://en.wikipedia.org/wiki/Intern...tical_Olympiad

    It's crap.


  24. #1599
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    Quote Originally Posted by S Landreth View Post
    What’s the Chinese translation for “Idiot. Fuckin’ diversify”?


    • Asia’s richest woman loses half her $24bn fortune in China property crisis


    Asia’s richest woman has lost more than half her fortune over the past year as the crisis gripping China’s real estate sector continues to worsen, the Billionaires Index showed on Thursday.

    Yang Huiyan, the majority shareholder of China’s largest real estate developer Country Garden, is down more than 52% to $11.3 billion from $23.7 billion a year ago, according to the Bloomberg Billionaires Index.

    In a sign that the crisis is spreading to developers previously seen as trustworthy, Yang’s fortunes were hit hard on Wednesday when shares in Hong Kong-listed Guangdong-based Country Garden tumbled 15% after the company announced it would sell new shares. raise cash.

    Yang inherited her fortune when her father, Country Garden founder Yang Guoqiang, transferred his shares to her in 2005, state media reported.

    She became Asia’s richest woman two years after a Hong Kong property developer’s initial public offering.

    But now she barely holds the title, with chemical fiber magnate Fang Hongwei coming in second with $11.2 billion on Thursday.

    Chinese authorities cracked down on over-indebtedness in the real estate sector in 2020, causing big players like Evergrande and Sunac to struggle to make payments and forcing them to renegotiate negotiations with creditors as they were on the brink of bankruptcy.

    Buyers across the country, furious at the backlog of construction and the delay in the delivery of their properties, have begun withholding mortgage payments on homes sold before completion.

    While Country Garden remained relatively unscathed from the industry turmoil, it spooked investors with Wednesday’s announcement that it plans to raise more than $343 million in stock sales, in part to pay off debt.

    Proceeds from the sale will be used to “refinance existing offshore debt, general working capital and future development goals,” Country Garden said in a statement to the Hong Kong Stock Exchange.

    China’s banking regulator has urged lenders to support the real estate sector and meet firms’ “reasonable funding needs” as analysts and policymakers fear financial contagion.

    The real estate sector is estimated to account for 18-30% of the country’s GDP and is a key growth driver for the world’s second largest economy.

    Analysts have warned that the industry is caught in a “vicious cycle” that will further undermine consumer confidence following the release of dismal second-quarter growth figures that were the worst since the start of the Covid-19 pandemic.

    ___________

    Last month, Moody’s Investors Service downgraded Country Garden’s credit rating to junk and changed its outlook to negative, citing a deteriorating financial position and weakened access to long-term funding.

    Did you display the same amount of Euphoria when Elon Musk lost $10billion on May 22nd?

    Elon should diversify,Tesla is yesterdays news.

    Don’t think she’ll be too worried. China’s richest woman won’t be booking package tours to Cuba anytime soon.

  25. #1600
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    A New Study Says China Reduced Its Air Pollution By 40% In 7 Years

    Since the 1970s, global CO2 pollution has increased by approximately 90%. Air pollution has gotten so poor in recent years that according to the World Health Organization (WHO), about 97% of the world’s population lives in air quality conditions that do not meet livable standards. Air pollution can increase the risk of cardiovascular disease, cancer, and respiratory diseases. For those with lower immune systems, high levels of air pollution can also be devastating when there are infectious respiratory diseases such as COVID.


    ....
    According to a new study published by the University of Chicago, China has managed to decrease its air pollution levels by the same amount in seven years as the U.S. has over three decades.
    From 2013 to 2020, China was able to bring down pollution levels by 40%. This also reduced smog in the city, which, according to researchers, extended life expectancy of citizens by two years on average. Living amidst smog can have a more lethal effect on one’s life expectancy than even the consumption of cigarettes, alcohol, or lack of space, sanitation, or hygiene.

    FULL-
    https://www.peacefuldumpling.com/china-reduced-air-pollution

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