Understanding China, One Blog at a Time

An American in China

Archive for July 11th, 2011

China’s Economic Woes

Posted by w_thames_the_d on July 11, 2011


China is battling with inflation right now and that is not a good thing. In addition, the Bank of China says that its exposure to local government loans is 2.2 US Trillion or as big as the GDP of Great Britain -GDP means value of goods produced for a year, think of it like salary for a country. Thus, if China’s banks exposure to loans were a country, it would be number 6 in the world- yikes.
As badly as many may hate the communists, their lies, bribery and such, it would be a bad thing for China to go off the rails, economically speaking. At present the world situation is pretty sketchy and China has been the star for sales in the commodities sector and things like metals.
The issue right now is that as inflation climbs so will interest rates and this cuts off loans and spending. This could cause a crash in home prices (regardless of what the Chinese say, vz they borrow less for their homes than others etc. the bottom line is that if there are too many houses and too little cash, a crash will occur). So as much as one may despise the party and all they stand for, one must hope that they can buoy the economy long enough that the world can get their collective ‘act in gear’.

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China Admits to Building an Aircraft Carrier

Posted by w_thames_the_d on July 11, 2011


The head reds have admitted that yes they are building an aircraft carrier. Although it has not been completed, the basic form is shown below. The Chinese believe that in typical fashion found throughout the land of smog and despair they can fit no less than 324,000 soldiers a gross of airplanes on this small space, they are, after all, Chinese. Oh yeah, dont be alarmed, the aircraft carrier is part of their ‘peaceful rise’.

travelpod.com

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China’s 1000 Year Old Eggs Named Most Disgusting by CNN

Posted by w_thames_the_d on July 11, 2011


When it comes to China, as you can tell by some of the comments here, you cannot say a bad thing for their collective ‘attack phermone’ kicks in driving them into a frenzy and disallowing intelligent conversation and logical thought. An example is that CNN had asked people to submit their nominees for the most disgusting food and voila China’s 1000 year old eggs won. Personally I think these eggs rock, but they do look like moose shit or large rabbit droppings, so maybe that is the problem.
In any event, the Chinese upon hearing of this got collectively pissed and yanking out their old Little red books, they bombarded CNN with angry missives about them being racist blah blah blah.

castinet.castilleja.org

So I guess in these politically correct times one cannot have a poll and submit their honest opinions and results.
Ok China, you are the oldest nation, you are the cradle of civilization not that other group of people and yes we can see the great wall from space even though the astronauts say we cannot and the problem is Otis elevators and no you do not commit copyright violations on a minutely basis and yes your movies are great, even the non kung fu ones and no your cities are not polluted, its just fog….

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Comments

Posted by w_thames_the_d on July 11, 2011


I have not been able to access comments for a bit, but hopefully will do so today!

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China Putting Up Houses Then Taking Them Down

Posted by w_thames_the_d on July 11, 2011


China has been throwing up buildings like nobody’s business. The snippet below tells of the enormity of what they have accomplished in such a few years. The questions on everyone’s mind, however, are
1-when will the bubble burst
2-what is the quality like
imho Chinese houses live in dog years, they age on a 1-7 ratio. A one year old house here is like a 7 year old place back home, but then again I am no expert. The following, irrespective of what I may think, however is pretty impressive.
From here
Rome was not built in a day but in China it takes less than two weeks!
China has built the entire European housing floor space stock (limited to Czech Republic, Sweden, Portugal, Greece, Poland, Netherlands, Spain, UK, Italy, France and Germany) in less than 10 years. Within 10 years, China has built slightly more than 16 billion sqm of completed residential floor space, enough to provide accommodation for 600 million people assuming 30 sqm per capita.

020620116854.jpg

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China’s Dangerous Machines Strike Again- Shanghai Elevator Plunges 5 Stories

Posted by w_thames_the_d on July 11, 2011


China had a tragedy with an escalator or two recently. One in Beijing went haywire last week killing one person and injuring 30. The problem was allegedly due to the fact that a part was not replaced in a timely manner.
Shanghai recently had an elevator mishap where one of their disobedient elevators rose and then suddenly plunged 5 stories with around 20 people inside. Supposedly the elevator had a recent history of problems and was making loud noises, but the locals must have considered it a bit of local charm and apparently didnt’ investigate. The resutl was a horror filled plunge and angry people. The elevator was made by Otis, so the Chinese were quick to lay blame, but then after a maintenance tech inspected teh scene, he explained that the standard is to replace certain parts every 3 years but this elevator which had been in use for over 10 years had never taken this action.
This kind of reminds me of a post I did regarding toxic Chinese swimming pools. The level of uric acid (from urine) and fecal content was so high that a man supposedly died after consuming pool water here. The point is that chlorine was put in the pool, but not enough to do its job. The same happened in these two cases, not enough was done to prevent a problem.

images?q=tbn:ANd9GcQnlKhyB_Xl9FbrEixR5o1spRht-nu2WKVxSqrEKDxdyTYgmgra

cartoon from .
elevatorworld.com

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Made in China Product Sold as Italian Made

Posted by w_thames_the_d on July 11, 2011


I knew this was going to happen sooner or later. As Chinese knew the world would not rely on their crappy products, they would claim Chinese products to be imports. This has allegedly happened according to this site.

DaVinci Furniture Ltd of Shanghai may have shipped its China-made products to Italy to be reimported as the work of European craftsmen. (File Photo/CFP)DaVinci Furniture Ltd of Shanghai may have shipped its China-made products to Italy to be reimported as the work of European craftsmen. (File Photo/CFP)

A major Chinese furniture company is suspected of passing off furniture made in China as Italian imports.
The Shanghai-based DaVinci Furniture Ltd may have sent its products to Italy in order to be shipped back again as imports, according to a report by state broadcaster China Central Television (CCTV).
A DaVinci customer surnamed Tang said she had bought about 40 pieces of furniture worth 2.8 million yuan (US$433,000) from the company. When she sent the furniture to the country’s furniture inspection center for tests, it found that a television set cabinet was made from high density board instead of solid wood, CCTV reported.

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Chinese Cops Steal Baby to Force People From Their Home- WTF?

Posted by w_thames_the_d on July 11, 2011


Chinese cops are a step below whale shit and a leap below that of pigs. They are underpaid and of little worth, but this story shows how low they and the communist party have sunk….
from here

Local authorities in he city of Mianyang in Sichuan province forcibly took a 20-month-old infant from his parents to compel them to relocate, although details of the relocation were not provided to the residents.
During the June 15 clash between local authorities and seven families at the site of a new government building, Wei Fazhong said deputy police chief Zhou Tao took his son away and has not yet returned him to the family, according to the 21st Century Business Herald.

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China’s Crazy Housing Bubble- Town Made for a Million Has 20,000?

Posted by w_thames_the_d on July 11, 2011


China has been building, some would say too much. The story below seems to confirm this as they report that a town built to hold 1000 000 people has only 20 000!
from here
Kang Bashi, the well-known ghost town in Ordos, represents the epitome of China’s housing bubble.
The town, which cost 17 billion yuan (US$2.629 billion) to build, was originally intended to become a city with a population of around one million, but the number of people actually living there is less than 20,000.
Chinese media has described the town as “quite barren, with only a few vehicles passing through the multi-lane highway. Some government offices open in the daytime. Pedestrians that appear every so often look like illusive beings, dragging their heavy feet along, like a lone survivor after a catastrophic event from the movies.”

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Poor Chinese-Only 2% of Chinese Make Enough To Pay Taxes

Posted by w_thames_the_d on July 11, 2011


According to local reports, China has raised the cutoff level for taxable income. Under the new law one must make 3500 RMB or Yuan per month which is equal to U$530 per month. Based upon this level of income only 24 million people have to pay taxes.
This has me confused. China supposedly has the second most millionaires in the world with 534,000 and has a ton of billionaires as well, so imagine the income disparity here. Where only 2% of all the Chinese people make over U$6000 per year, no wonder everyone wants to join the communist party, they have all the cash. (artie here)

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