Hong Kong - Chinese banks burning

Discussion in 'Current Affairs' started by willrocks, Oct 8, 2019.

  1. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Nothing much. :)
     
  2. willrocks

    willrocks Well-Known Member Silver Stacker

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  3. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    isn’t Shanghai already larger than Hong Kong.

    in 2016 Shanghai’s economy grew by 6.8 per cent to 2.75 trillion yuan (about US$400 billion), outpacing Hong Kong’s 2 per cent growth to around US$319 billion by now it would be even greater.

    Shanghai port already bigger than Hong Kong port (HK ports will be decimated without cabotage)
    Shanghai financial sector is already larger than Hong Kong (barring global bonds)
    Shanghai exchange is larger than Hong Kong exchange

    GDP per capita of China is $10,000 USD and if China sustain half the trajectory of South Korean growth by 2050 GDP per capita will be $18,000 with a GDP of 25 trillion vs USA 22 trillion and $60,000 GDP per capita

    ‘As for where will the financial sector move its HQ its obvious to Singapore than to Shanghai later.
     
    Last edited: Oct 9, 2019
  4. willrocks

    willrocks Well-Known Member Silver Stacker

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    Hong Kong was never a "golden goose". The only reason for its economic success is it was a convenient gateway to China. Especially for wealthy Chinese moving money out of China.
     
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  5. alor

    alor Well-Known Member Silver Stacker

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    list of coy
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Golden goose to the Chinese elite is what I meant. To me a $500k property in Hk is worth more than a $500million office tower in Shanghai because it’s no use since all assets belong to the state. You can have your name on it for the time being but all still belong to the state.

    At least for now before China takes over HK.
     
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  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Didn’t know China was the largest economy in 1911, as for gdp, not really as long as a some kind of Yard stick formula is used to quantify
     
  8. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Doubt any Chinese elite would think that because in 2047 Hong Kong is bog standard Chinese city
     
  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Not a chance. :)

    It’s a controlled economy and getting worse. If controlled economies worked we would all be speaking Russian now.
     
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  10. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    South Korea and Japan was a controlled economy
     
  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    They’re democratic. They have free-markets. They are capitalist. They’re efficient.
     
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    If the controlled system didn't work in the 80s, it will be totally irrelevant in the next 30 years when robotics and quantum computing takes over the world. Robots don't need to eat, rest and don't need to be educated. How will you handle 1 billion hubots when they are no longer needed? What happens when the controlled state don't need you any more?
     
  13. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    ^ who are the robots making things for?
     
  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Even in the most controlled of societies, e.g. North korea, there will always be a group of people living as human beings (Pyongyang). Humans are social creatures, you will always need a community. The peasants are needed to plow the fields and work in sweatshops. These can be replaced by robots.

    In a private corporation, people will be laid off when robots take over their work. A controlled state is just like a private corporation if you get my meaning.
     
    Last edited: Oct 9, 2019
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  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Therefore GDP per capita will not rise.

    Controlled economies with peasants in the fields and in the sweatshops v controlled economies with robots producing goods for markets that don’t exist. It doesn’t matter, it’s doomed to fail.

    Edit to add: and annihilating the peasants won’t work either. What’s the biggest economic problem Western nations incl Japan etc (and China) face in the coming decades? A declining population.
     
  16. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I think you need to brush up on East Asian economic development.

    Also these separatist need to learn why they are on the street.
     
  17. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Really?

    So capitalism, free-markets, democracies and efficiencies didn’t herald the rise of Japan and Sth Korea’s economies? Curious.

    So what did it then?
     
  18. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    If anyone is interested, on Twitter Kyle Bass has been busy tearing strips off the CCP, the US government, the NBA and anyone else that has felt the need to forgo their morality and suck up to the Chinese government.
     
  19. Peter

    Peter Well-Known Member

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    Why buy a million dollar robot when you can hire a $10 an hour Joe to do it.
     
    Last edited: Oct 9, 2019
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  20. willrocks

    willrocks Well-Known Member Silver Stacker

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