http://www.businessweek.com/magazine...-09292011.html
This is insane. How could the government allows such advertisement in school? This is unbelievable.
http://www.businessweek.com/magazine...-09292011.html
This is insane. How could the government allows such advertisement in school? This is unbelievable.
Because despite what one might believe the central government doesn't have that much control at the local level. Big things such as banks, currencies yes, but at very local level the CCP simply don't have the man-power to watch and police every city (especially the poor ones like in the article where nobody wants to go).
Think of it this way. China is made up of a CEO, which watches over bunch of directors, who in turn watches over bunch of middle managers. Even if the CEO has good intentions, sometimes you still get an bad manager.
That's why you get the milk problems and local food industry that no body trusts. And lets face it, CCP got bigger fish to fry right now, like the milk problem and the local food industry.
Last edited by Dimeron; 10-04-11 at 03:30 PM.
This is suck. China has trillions of dollars in foreign reserve and still prey on innocent children for money. This is totally inhumane. This is like a slow genocide.
I agree. Their objective is money, money, and money, not the well being of society. Promotion is based on the amount of money they made for the state, not on things that they accomplish for greater good of society. That is the impression I have with China right now, money is more important than well being.
This is sad but true about china. Although it was a big shock, but it wasn't surprise me when I found the article from the news. I am well aware that Chinese officials are capable of almost anything. Hopefully, the central government will intervene soon. Those officials who prey on children should be sack and go to jail. Again, it's sad that Confucian values are pretty much gone in modern China.There is a term "物以稀为贵" which means what's short in supply is precious. And we know China is far from lacking human population...
Last edited by Trien Chieu; 10-05-11 at 11:18 PM.
Having trillions of surplus means the government is not desperate about money so there is no pressure to prey on the innocent children. China is indeed pretty dumb for buying trillions of US bonds. A large portion of the bond was purchase when the price of gold was only few hundred dollars per ounce whereas the current price of gold is over $1600 per ounce. That means the value of the dollar when US borrow from China worth way more than the current value of the US dollar. The interest China receives from the US bond is way less than inflation. China indeed lose big time. On the other hand, the US can inflated itself out of debt by printing out more paper money. Pretty much all the debt US owes is in US dollars, not in other currency.
It's sad that Confucian values being manipulated and twisted. If Confucian values is well alive in society, there won't be any problem like milk and food poisoning.
Actually such crap doesn't just happen in Chinese society or to Confucian values. It happens because people do such things. Sad, but it's true.It's sad that Confucian values being manipulated and twisted. If Confucian values is well alive in society, there won't be any problem like milk and food poisoning.
Again, the trillion is held by government reserve and banks. The Cigarette company is a separate corporation that happens to be majority state owned. There is a huge difference between them. BBC is owned by the the government, but it is distinct entity.
And China is large enough that any major purchase of commodities, like gold, will skyrocket the price of gold up. It is not a simple matter of China going out say, I have 1 trillion, and I would like to buy 1 billion oz of gold.
And China bought the bond out of necessity, they need to buy it to keep the RMB pegged to the dollar. It also has the advantage of giving China huge amount of leverage against US. It is a double edged sword.
Welcome to Capitalism at its purest form.It's sad that Confucian values being manipulated and twisted. If Confucian values is well alive in society, there won't be any problem like milk and food poisoning.