Phalanges Mycologist
kiwifarms.net
- Joined
- Sep 11, 2021
Bet those guys at Hollywood that banked it all on China taking over are feeling real dumb right now
You bring up a interesting point, Hollyweird has been bending the knee to China for a long time now and they have recently became hostile (well more so) to Western Media entering their market and Hollywood has been banking on getting easy access to the largest media market in the world, while they have been preaching Social Justice in the west, in China they censor postors to remove black people, they also film wholly different scenes to totally remove LGBT and Black people from the films as best they can.
They have also been using directly and indirectly Ughur labour and trying to keep it out of the Western press as much as they can.
I wonder how they are going to react when the money drys up.
Alot of their construction projects sit unfinished, over 3 million workers have not been paid and more importantly, the idiots also paid their suppliers in script rather then cash up front. Part of what allowed this company to grow so large so quickly is that they used debt to the exclusion of capital. Capital in flow from new buyers was used to pay existing debt obligations.
I was watching some videos late last year about Construction projects in China something like 70% of them are started but never finished and the ones that are finished are really substandard in quality - they look alright for a few months but then you can see where they really cheeped out by using the wrong type of concrete or steel that's not been QC'd at all and is badly welded, they use poorly dried timber that goes on OK but warps and cups the moment the weather changes etc.
There internal stuff has been surfacing on the international market for construction small's like nails and honestly doing a side by side comparison of a Nail produced in the UK and one from China the weight alone is enough to let you know the Chinese nail is going to be trouble the second you pound it with a hammer the head starts to deform and bend.
China also has a internal infrastructure issue with there construction, there power grid is still mostly reliant on Coal or buring waste to generate power but the lines are inexpertly laid out and badly maintained. Their rail network is bad as well there passenger lines are outright dangerous with the rolling stock being fastly constructed, on the cheapo but poorly maintained for the speeds they want to run them at, and there goods lines outside the Citys and population centres are more akin to tempory rail lines that are laid to perform a short term heavy goods movement job but will settle warp and slow down the movement of goods.
I'm not even going to mention the looming disater that the 3 Gorges dam is going to be if they stop there constant maintenance and repair work they have to do because it was so badly constructed it's at near constant risk of failure.
They are whistling in the dark. Apparently alot of western banks ARE holding bags in this. I've heard names from Credite Suisse to Blackrock.
That's always been a interesting situation, China has for years been growing at a unsustainable rate, but over such a period of time the short sited financial markets in the west didnt classify it as a massive global bubble waiting to burst, if this does pop China or starts the big wobble it will make 2008 look like a small market correction.
crypto on the otherhand. Alot of Chinese people have money in crypto and are liquidating.
Didn't China really put the screws to Crypto in china in the last 2 - 3 years where people where not allowed to own or move it around and even stopped mining last year? Something about it being a risk to state security, and tax avoidance?