Understanding China, One Blog at a Time

An American in China

China News- Chinese Fireman Sets Self Ablaze, Africa Loves China and a Fat Guy on the Subway

Posted by w_thames_the_d on February 26, 2012


Here are some Chinese news stories of interest. In my usual unassuming and professional manner, I will cut to the chase and give you the highlights.

Chinese go to Africa to colonize and abuse the local laborers. The Africans cannot stand the smell of garlic and ignorance and so they kidnap the Chinese. The Chinese, however, do not care because they have assloads of replacements.
Africa
http://www.reuters.com/article/2012/02/24/us-china-africa-idUSTRE81N06J20120224

Porsche is recalling cars in China not because they fear harm will come to the locals, but because it’s cheaper than paying a lawsuit.

Porsche
http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1103&MainCatID=11&id=20120225000030

An angry Chinese guy set himself on fire to protest something, I forget what and I am too lazy to click the link below. If memory serves, however, he was upset about not getting a bonus or a paycheck…

Fire Me
http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1103&MainCatID=&id=20120225000114

Chinese innovation

China, proving its innovative spirit has invented a grand thing called the ‘supermarket’ and are exporting the ‘supermarket’ to Korea. WTF?Yeah, China is bringing supermarkets to Korea. Isn’t that what all countries need, mela milk, fake rice and botulism beets…
http://www.cbsnews.com/8301-501712_162-57385295/china-brings-supermarket-concept-to-north-korea/

Chinese Fertilizer company grows its revenue
Some Chinese company who peddles fertilizer grew its profits, or so they say. In all reality, if you believe anything a Chinese company or person says then please do me a favor and visit the tallest building you can find, go to the roof and then run as fast as you can and don’t stop till you hit bottom.

http://www.marketwatch.com/story/china-xlx-fertilisers-net-profit-grew-25-y-o-y-to-rmb-181-million-in-2011-2012-02-26?reflink=MW_news_stmp

China’s Liren’s massive Loan Defaults

Chinese are good at obfuscation and one of their newest money making ventures is outright theft. This ‘bank’ stole a ton of cash from the locals. Don’t worry, however, the slime who stole the money have already sent their toxic offspring to the US, Canada, Australia or to Europe.
Say ‘hello’ to your next neighbor, Chinese communist defectors….
http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1502&MainCatID=&id=20120225000120

(ps, the pic is of some fat guy I saw on the subway)

2 Responses to “China News- Chinese Fireman Sets Self Ablaze, Africa Loves China and a Fat Guy on the Subway”

  1. Brewskie said

    Holy shit! And I complain about Congress’s revolving door practice between politics and lobbying, or D.C.’s 40,000 registered lobbyists.

    $90 billions dollars of big-bad, haughty, self-aggrandizing worth. That’s roughly the accumulated worth of China’s 70 richest legislators. Didn’t you say roughly 90% of China’s billionaires are connected to the CCP?

    http://www.bloomberg.com/news/2012-02-26/china-s-billionaire-lawmakers-make-u-s-peers-look-like-paupers.html

    Also, the profit on land price per footage is declining – big time. Consider:

    Yangtze River Delta region: 16.7% in 2011 vs. 44% a year earlier

    Pear River Delta region: 33% in 2010; 12.% last year.

    Bohai Sea region: 7% last year vs. 29.4% just the year prior.

    Midwest Region: a drop of 20.5% in profit from 2010.

    http://www.theepochtimes.com/n2/china-news/land-led-decline-in-chinas-housing-markets-190323.html

    Also according to the post:

    “December statistics show that out of the twenty three cities that are followed by the Soufun website—China’s leading real estate Internet portal, housing prices have declined in all cities but one. Among them, ten fell more than ten percent from their highs in 2011.

    Shanghai experienced the largest drop in housing prices, declining 18 percent from its high in February 2011, followed by Wuxi at 15.1 percent, Shenzhen at 14.3 percent, and Chongqing at 13.3 percent. Beijing fell 10.9 percent. The only city among the twenty three cities that did not fall is Kunming, which actually rose 22.7 percent in December compared with January 2011.
    Still Too High

    Even though housing prices in Shanghai dropped the most, prices remain extremely high in some areas and refuse to adjust. In the Jiali Huating area, located in the inner circle of Shanghai, the average price for apartments of the second phase project is as high as 120,000 yuan/sq meter as of Jan. 27, 2012. (source: jialihuating.soufun.com) The apartments are in high rise buildings. At the current exchange rate of 6.3138 yuan/dollar, the average price is equivalent to $1,766/square foot, which is 17 times as much as for the average housing price of $101.3/square foot in the United States. (The average U.S. house cost $242,300 in October 2011, and the average size of a U.S. house was 2,392 square feet as of 2010.)”

    Finally, we all know the local reds are neck-deep in doo-doo debt, and because of the drying real estate market, revenues are drying up than desert water, and they’re fretting about repayment schedules; which has brought the banks in for negotiations. The the local govs.long-term hope that will sail them through? Fresh economic growth to blow in bucks. With declining real estate and everyone expecting GDP declines, the local govs are sounding more and more like Greece and the EU: merely kicking the can down the road.

    http://www.marketwatch.com/story/china-local-governments-may-dodge-debt-deadlines-2012-02-26

    You and the King keep up the good work; pass the fabulous word.

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