China Is An Economy On The Verge Of A Nervous Breakdown

[psy83]

http://www.businessinsider.com/the-truth-about-the-china-an-economy-on-the-verge-of-a-nervous-breakdown-2011-10



I copied one interesting comment in there...

This is nothing compared to the Secret Engine Behind China’s Housing Bubble - The Ponzi Shark Loan Finance. Folks Chinese housing market may blow up sooner than later.

China’s real estate market is a huge ponzi scheme supported by shark loans. They are located on street corners with touts to bring customers in. There are more loan shark shops than convenience stores in some blocks. Ordinary Chinese pledge their houses to get low interest loans from the banks like our cashout refis, then lend to local shark loan companies at high interest rates to speculate in the real estate market. Actually, at the later part of 2008, when real estate prices dipped for while in China, many ponzi shark loan schemes blew up in parts of China. A whole city was rioting since many households couldn’t get the principal back after the local loan shark companies couldn’t pay interest anymore due to the real estate price slump.

So many ordinary households pledge their inflated houses and get a loan from the bank, then lend the money to a shark loan operator with 20-150% annual interest rate, this shark loan operator then lends this aggregated loan to real estate developers, speculators, or some SME (small medium size enterprises or privately owned company) which has to pay back the bank. ( China’s banking system operates at a roll over loan base on a year on year base, so many Chinese SME's will borrow at shark loan market rates to pay back the bank, then days later, use the approved new bank loan to pay back. This is a very common practice, given the dire situation of many SME exporters due to razor thin profit margins combined with rising labor costs. Furthermore, in recent years, many SME’s totally stopped their old business of exporting , since the high return of real estate drove more and more of them into this historical bubble.

Read more: http://www.businessinsider.com/the-...-of-a-nervous-breakdown-2011-10#ixzz1ZjyO2wsL

 

[neddy]

They have learnt to walk on water.

(Up your points.)

 

[pallkia]

I am a 4th Gen S’porean Chinese and I am still very proud of the Chinese achievement till now if what you’ve said is going to be true because there is nothing to lose for China imagining 33 years ago they were ground zero, dirt poor like present day N Korea!

Now,they have achieved so much as below :
1. The largest foreign reserve in the World.So rich in cash.
2. The greatest/strongest sport nation in the World
3. The strongest growing economy in the World
4. Their per capita income has overtaken or is going to overtake all the S.E Asian (except S’pore) and S.Asian economies and is still growing.

Social ills in a growing society is a normal process but what is important is it must achieve something !Anyway,during the 33 years development,there were countless of bad mouth of China but it is still growing and growing and those anti-Chinese are getting more frustrating day by day……….

 

[Leongsam]

I am a 4th Gen S’porean Chinese and I am still very proud of the Chinese achievement

Why should you take pride in achievements that have absolutely nothing to do with you and to which you have contributed no effort whatsoever?

Pride is something which is earned. EG the coach of a team can take pride in the fact that his team won a game. A teacher can be proud of the performance of his students in an important exam and so on.

A 4th generation Singaporean has no connection with China whatsoever. The only common factor is skin colour and that gives no cause for pride anymore than it should cause shame for the disgraceful things the Chinese have done for the sake of money.

 

[pallkia]

it is easy to understand and forgivable why u r asking such question bec u wil not understand how proud we are of our own heritage bec u dont belong to this league !As i said before irrespective of proud or sad most S'porean still belong to this heritage!Even though many Chinese S'porean will not associate with China,but in time of trouble,they will still do just like the Muslims brethren worldwide!

 

[neddy]

it is easy to understand and forgivable why u r asking such question bec u wil not understand how proud we are of our own heritage bec u dont belong to this league !As i said before irrespective of proud or sad most S'porean still belong to this heritage!Even though many Chinese S'porean will not associate with China,but in time of trouble,they will still do just like the Muslims brethren worldwide!

Your misplaced China Pride is forgiven.

*** If you are offended by the pic, you are not China Chinese.

Anyone who visits China as a tourist should try to live like a typical Chinese, not just as a Shanghaiese or Beijinger only.

 

[pallkia]

Your misplaced China Pride is forgiven.

*** If you are offended by the pic, you are not China Chinese.

Anyone who visits China as a tourist should try to live like a typical Chinese, not just as a Shanghaiese or Beijinger only.

First of all,you mustnt perceive China is better than us,they are still a huge developing country and as I said before social ills is natural developments (if there is no,it is considered abnormal).The most important is everyone is focusing on this country for business.

I have travelled a lots to Indonesia,Philippines and India and twice monthly to China,u can see China is belonging to a different league ,the people are so energetic,entrepreneur,hungry for knowledge to succeed.

So whatever you said I am misplaced or whatever and I may agreed with you but China is still growing and growing and growing ........ and those anti Chinese will be frustrating day by day...............................

 

[neddy]

First of all,you mustnt perceive China is better than us,they are still a huge developing country and as I said before social ills is natural developments (if there is no,it is considered abnormal).The most important is everyone is focusing on this country for business.

I have travelled a lots to Indonesia,Philippines and India and twice monthly to China,u can see China is belonging to a different league ,the people are so energetic,entrepreneur,hungry for knowledge to succeed.

So whatever you said I am misplaced or whatever and I may agreed with you but China is still growing and growing and growing ........ and those anti Chinese will be frustrating day by day...............................

I only see China shame.

1. Pollution as a world's factory causing public health issues that the Chinese authorities cover up and need western media to uncover.

2. Public health does not keep up with an aging population.

3. Wages lagging behind, underdeveloped laws and public institutions.

4. A central government that keeps the people dumb. State, provincial and local government failures that create an elite class that lie to the peasants ("your turn to get rich next") But still maintain a migrant/resident permit policy.

5. An economic system that misallocate resources big time. How much money has been set aside for human development? Very little.

I can give more reasons but no point, but I believe that 2 generations from now, they will still be same. Economic/financial improvements will be negated by poor living standards.

So, you are the overseas nanyang Chinese and the only reason why China will see you as their own is because they want your money.
Do you share the same common "heritage" as them? Something has changed, even HongKong people get offended (We are not from mainland China, we are HongKong people)

Maybe Taiwanese will associate with China, but somewhere along the line, Taiwanese is influenced by Japan and that commonity is broken.

 

[pallkia]

I only see China shame.

1. Pollution as a world's factory causing public health issues that the Chinese authorities cover up and need western media to uncover.

2. Public health does not keep up with an aging population.

3. Wages lagging behind, underdeveloped laws and public institutions.

4. A central government that keeps the people dumb. State, provincial and local government failures that create an elite class that lie to the peasants ("your turn to get rich next") But still maintain a migrant/resident permit policy.

5. An economic system that misallocate resources big time. How much money has been set aside for human development? Very little.

I can give more reasons but no point, but I believe that 2 generations from now, they will still be same. Economic/financial improvements will be negated by poor living standards.

So, you are the overseas nanyang Chinese and the only reason why China will see you as their own is because they want your money.
Do you share the same common "heritage" as them? Something has changed, even HongKong people get offended (We are not from mainland China, we are HongKong people)

Maybe Taiwanese will associate with China, but somewhere along the line, Taiwanese is influenced by Japan and that commonity is broken.

I totally agree with you and you are really a genius and now we are in the same platform of understanding which u have acknowledged that China is still a developing country with huge population and land mass and plenty of social ills.Our LKY who is a expert on China also acknowledged that, which he recently hinted to China to be patient in the re-unification work because China will grow and grow and when the standard of living is better than (hopefully) Taiwan and HK and maybe Singapore (who knows?),then it is a different story.

But,no one at this juncture can deny that China is growing and growing and growing and stronger and stronger and those anti-Chinese will be getting frustrating (squeesing their balls) day by day and day by day..............................

 

[Leongsam]

why u r asking such question bec u wil not understand how proud we are of our own heritage bec u dont belong to this league

Pride of this nature has a distinctly hollow ring to it for the simple reason that nobody can choose their heritage. It's simply a case of genes being passed down from one generation to the next. There's no justification to be proud of something that required no effort to achieve.

It's not confined to the Chinese. I've heard the same thing from the blacks.

Pride is only justified if it's based on an achievement. You're entitled take pride in the fact that you closed a deal, met a sales target, scored a distinction etc. Being Chinese doesn't require any effort. 1.4 billion people around the world are in the same category. All it requires is for a couple of Chinese to fuck each other and if all goes well, one more will pop out 9 months later.

As for Chinese helping each other out, nothing can be further from the truth. The Chinese are willing to poison their own babies in order make a quick buck.

 

[psy83]

I agree, There is nothing to be proud of China Rise or Fall has it got Nothing to do with you and the only thing that is making you stick to them is your skin color Which to me isnt a respectable reason. Same goes to whites.. You expect the Aussies to be proud of England or Ireland?

 

[neddy]

But,no one at this juncture can deny that China is growing and growing and growing and stronger and stronger and those anti-Chinese will be getting frustrating (squeesing their balls) day by day and day by day..............................

So you
- admit that you are not Chinese Singaporean but Singaporean Chinese.
- are all set to join the People's Liberation Army to fight for China.
- will put out a PRC flag outside your house on 1 Oct.

Good on you, Chinese patriot.

I only Chinese leader that I respect is the late Dr Sun Yat-sen.

 

[pallkia]

Pride of this nature has a distinctly hollow ring to it for the simple reason that nobody can choose their heritage. It's simply a case of genes being passed down from one generation to the next. There's no justification to be proud of something that required no effort to achieve.

It's not confined to the Chinese. I've heard the same thing from the blacks.

Pride is only justified if it's based on an achievement. You're entitled take pride in the fact that you closed a deal, met a sales target, scored a distinction etc. Being Chinese doesn't require any effort. 1.4 billion people around the world are in the same category. All it requires is for a couple of Chinese to fuck each other and if all goes well, one more will pop out 9 months later.

As for Chinese helping each other out, nothing can be further from the truth. The Chinese are willing to poison their own babies in order make a quick buck.

Again,this is my own choice and preference which you Non- Chinese will slowly understand and appreciate as more and more angmo and Indian or Eurasian like to marry our girls and assimilated into the Chinese heritage.Example is Viv B whose mom,wife are Chinese and the children are already technically more Chinese than Indian.

 

[psy83]

Again,this is my own choice and preference which you Non- Chinese will slowly understand and appreciate as more and more angmo and Indian or Eurasian like to marry our girls and assimilated into the Chinese heritage.Example is Viv B whose mom,wife are Chinese and the children are already technically more Chinese than Indian.

LOL.... A non-Chinese marrying a Chinese has got nothing to do with trying to assimilate with the Chinese or Chinese heritage as it got nothing to do with them, The only reason is love. To be with one another and nothing more. Your thoughts are quite narrow..Just using the word "OUR GIRLS" your thinking is you own them or they are part of you. Tsk Tsk... Its 2011 already la bro/uncle.

Most Locals of any race sees themselves as Singaporean 1st then followed by their own Race.. They are not going to give you leeway or special treatment just because you share the same skin tone.. Yes there are those in the older generation and pockets within the race whom gives preference to its own, but its defiantly in the minority.

 

[pallkia]

LOL.... A non-Chinese marrying a Chinese has got nothing to do with trying to assimilate with the Chinese or Chinese heritage as it got nothing to do with them, The only reason is love. To be with one another and nothing more. Your thoughts are quite narrow..Just using the word "OUR GIRLS" your thinking is you own them or they are part of you. Tsk Tsk... Its 2011 already la bro/uncle.

Most Locals of any race sees themselves as Singaporean 1st then followed by their own Race.. They are not going to give you leeway or special treatment just because you share the same skin tone.. Yes there are those in the older generation and pockets within the race whom gives preference to its own, but its defiantly in the minority.

I can understand the desperate thinking of a minority.Well,if that makes you happy,continue to think that way and I totally agree with you.

On the other hand ,whether u like it or not the descendant of these mixed marriages especially with Chinese will be most likely Chinese heritage technically!You can't cheap by your skin.

 

[psy83]

I can understand the desperate thinking of a minority.Well,if that makes you happy,continue to think that way and I totally agree with you.

On the other hand ,whether u like it or not the descendant of these mixed marriages especially with Chinese will be most likely Chinese heritage technically!You can't cheap by your skin.

LOL, there is no way will i agree with your statement...(When i said Minority i dont mean Minority race i mean Minority of the population).. In-fact i can go further to say that when a Chinese/Indian/malay comes together with an Ang moh or Eurasian he/she will automatic put aside his own race and take up an Ang moh/Eurasian identity.. That to is in the Minority. I can kind of understand your Strong emotion attachment to your Race but you got to understand that not everyone thinks on the same frequency as you.

Take note of Chinese/Indian traditions in Singapore as of today, You will notice its just the older generation that practices the Tradition, The new generation are totally not following this traditions anymore.. In-fact everyone seems to be embracing Western society/culture. Not that its a good thing but thats a fact you cant run away from.

If you have stayed abroad, And come into a contact with a Singaporean/malaysian of any race.. And ask him/she are you Chinese.. He will say NO! Im a Singaporean.etc... Thats the Identity that most of us have in Singapore and Malaysia.. There are defiantly small pockets of people who say Chinese 1st.. And you are defiantly what makes up that small pocket.

 

[pallkia]

LOL, there is no way will i agree with your statement...(When i said Minority i dont mean Minority race i mean Minority of the population).. In-fact i can go further to say that when a Chinese/Indian/malay comes together with an Ang moh or Eurasian he/she will automatic put aside his own race and take up an Ang moh/Eurasian identity.. That to is in the Minority. I can kind of understand your Strong emotion attachment to your Race but you got to understand that not everyone thinks on the same frequency as you.

Yes you are very right because most of the Minority (except Malay) in Singapore think like you!But I think I have to tell you that as a true MAN,we cannot love blindly to the extend that we are assimilated into another race!This is not love,this is simply out of desperation.For women (all races) it is well known that when comes to Love thay have no code of conduct because women is of the passive type generally!BUt Man cannot behave like a women who anyhow love!This is no conservative thinking or old fashion,this is simply pure business sense!Only something to our advantage then we will do,that is why Chinese are so successful in business!

 

[psy83]

Yes you are very right because most of the Minority (except Malay) in Singapore think like you!But I think I have to tell you that as a true MAN,we cannot love blindly to the extend that we are assimilated into another race!This is not love,this is simply out of desperation.For women (all races) it is well known that when comes to Love thay have no code of conduct because women is of the passive type generally!BUt Man cannot behave like a women who anyhow love!This is no conservative thinking or old fashion,this is simply pure business sense!Only something to our advantage then we will do,that is why Chinese are so successful in business!

Sorry but im extremely confused by your statement, I dont understand where your taking this or what your trying to project..

 

[pallkia]

Sorry but im extremely confused by your statement, I dont understand where your taking this or what your trying to project..

Sorry to confuse u,I quote from your "The only reason is love. To be with one another and nothing more. "

This is why I say as a Man,we cannot anyhow love!Women can of course!Women have no code of conduct when comes to Love!

We Chinese has a famous saying power or career constitutes half and love constitutes the other half of a Man's life but love constitutes wholly on a women's life!

 

[psy83]

Sorry to confuse u,I quote from your "The only reason is love. To be with one another and nothing more. "

This is why I say as a Man,we cannot anyhow love!Women can of course!Women have no code of conduct when comes to Love!

We Chinese has a famous saying power or career constitutes half and love constitutes the other half of a Man's life but love constitutes wholly on a women's life!

Then that is a sad thing, A man always goes after career and Money which ever race he belongs to and psychologically a man uses wealth to wheel in Females and Females will look for someone whom can provide her and her off-springs with a good life as a alot of investment will have to be put in by the Female to mother a child. So in-fact a women looks at Material goods 1st before falling in love(Adults not kids) -Evolution.

Furthermore I can understand that for a Muslim his/her Religion is Law and getting into a marriage proposal comes with the non-Muslim taking up Islam to get married. But for other Race and myself.. Race is secondary, I am willing to marry anyone i love even if she is an African and Im am pretty confident that my Family and Friends will support me,(Continuing the Line but not the Race) I will defiantly take interest in her Culture and im pretty confident she will take interest in my, Just for example if you happen to become friends with someone from Ukraine, Im pretty sure you will google Ukraine and find out more about the Culture and when in the Presence of another Culture you will join in the Festive and get to know abit more of what its about. For me The only issue will be to take up another religion if im Require to then i will put my Ideology of taking up another religion before love...