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Chinese Fault Beijing’S Moves On Foreign Reserves

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http://www.nytimes.com/2011/08/09/business/global/chinese-fault-beijings-moves-on-foreign-reserves.html?_r=1&ref=business

It is not just many Americans who are upset about the Standard & Poor’s downgrade of United States debt. A lot of people in China are angry, too. But they are aiming their venom at the Chinese government.

Chinese Internet sites lit up over the weekend with criticism of Beijing’s management of the country’s foreign reserves — a usually esoteric subject that had attracted little public attention.

But the S.& P. action hit a nerve. The ambitions of the Chinese people, eager to take their part as consumers in their nation’s economic success story, have in many ways been stifled by their government’s fiscal and monetary policies.

China’s stock market plunged Monday, as investors worried that recent events in the United States and Europe would weaken demand for Chinese exports.

Bernanke gambling on the Chinese bust being bigger than the US one?

The Chinese govt so far has been very adept at side stepping awkward issues but govt policy is going to be very difficult to explain. Social unrest looming in China over this?

Go recovery.

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Some gamble! but Reagan's economic and military gambles ended the Soviet Union, so the US has form for it.

I do not understand where China is going. It's people can't get wealthier, as it would price it's manufacturing economy out of business, and they can't keep saving and the gov buying huge foreign reserves.

Did they just blunder into this blind alley? and where will it end.

Not a china bull in a tea shop. Eh?

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Bernanke gambling on the Chinese bust being bigger than the US one?

The Chinese govt so far has been very adept at side stepping awkward issues but govt policy is going to be very difficult to explain. Social unrest looming in China over this?

Go recovery.

Old news the people have been complaining for a while, way back in 2008 I remember comentators on Chinese talk radio saying that China had gifted the USS gerald Ford to the USN in the amount of purchasing power they had lost in US$.

Its like CNN they report on HK Cage homes every 9 months.

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Some gamble! but Reagan's economic and military gambles ended the Soviet Union, so the US has form for it.

I do not understand where China is going. It's people can't get wealthier, as it would price it's manufacturing economy out of business, and they can't keep saving and the gov buying huge foreign reserves.

Did they just blunder into this blind alley? and where will it end.

Not a china bull in a tea shop. Eh?

Not really the CCP is pretty much a reflection of UK politicians, in that they want to kick the can along the road as long as possible so that they can continue to loot as much as possible. The only major difference is that they don't have arbitrary time limits in which to loot they always remain in power.

The CCP is more devious than many give credit for, 10 years ago people said China had no social healthcare and thus people were inclined to save. So 5 years ago they introduced social insurance about $35-50 a year which is sort of like the NHS which you can opt out of (but if you go to the shiney new Bupa type hospital the government will only pay 40% the cost of).

One child policy? Is being reversed.

Etc they do this because Chinese people in general are not as docile, 89 scared the CCP and there are many riots and much unrest in China today, it is merely covered up.

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Not really the CCP is pretty much a reflection of UK politicians, in that they want to kick the can along the road as long as possible so that they can continue to loot as much as possible. The only major difference is that they don't have arbitrary time limits in which to loot they always remain in power.

The CCP is more devious than many give credit for, 10 years ago people said China had no social healthcare and thus people were inclined to save. So 5 years ago they introduced social insurance about $35-50 a year which is sort of like the NHS which you can opt out of (but if you go to the shiney new Bupa type hospital the government will only pay 40% the cost of).

One child policy? Is being reversed.

Etc they do this because Chinese people in general are not as docile, 89 scared the CCP and there are many riots and much unrest in China today, it is merely covered up.

Thanks for the insights, like the point about looting the people they are all at it then.

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http://www.nytimes.c...=1&ref=business

Bernanke gambling on the Chinese bust being bigger than the US one?

The Chinese govt so far has been very adept at side stepping awkward issues but govt policy is going to be very difficult to explain. Social unrest looming in China over this?

Go recovery.

I've read a few times that this downgrade business might only be about shaking the Chinese off the currency manipulation and treasury buying game.

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  • 332 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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