Understanding China, One Blog at a Time

An American in China

Archive for June 19th, 2013

Ambow, Another Chinese Company Listed in the USA Defrauds Americans

Posted by w_thames_the_d on June 19, 2013

People who buy stocks in Chinese companies listed in the US deserve to lose all they invest for their stupidity. By trying to make a quick buck you are propping up the dictators who run this dump, ergo you deserve to feast on cat food for the rest of your life.

Do not trust Chinese companies you fools.


(Reuters) – Baring Asia Private Equity, with $5 billion in assets under management, has a reputation as one of the savviest investors in China.

But the Hong Kong-based firm is now sitting on an $43 million paper loss from a $57 million investment in New York Stock Exchange-listed Ambow Education Holdings Ltd., the latest example of how even the smartest money managers continue to get trapped in risky Chinese investments.

A Cayman Islands court ordered Ambow into provisional liquidation earlier this month.

“People have the assumption that because the company is public a lot of people have vetted it before, therefore you don’t need to do the fundamental due diligence that you would perform on a private company,” said Max Chen of Hong Kong-based private equity firm Primavera Capital.

“That’s a false assumption.”

Between 2010 and 2012, 70 Chinese companies trading on U.S. markets were targeted by class-action lawsuits. Altogether they lost $26.5 billion in market capitalisation, according to statistics compiled by Cornerstone Research.

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China’s Comunists Cannot Believe in God

Posted by w_thames_the_d on June 19, 2013

Check this out, the communists in China cannot believe in God. They say that such a belief would topple the party. What a messed up place. Who believes God is bad?

Excerpt wantchinatimes.com
“Zhu Weiqun, director of the national ethnic and religion commission of the Chinese People’s Political Consultative Committee, the nation’s political advisory body, recently declared that the party needs to maintain the principle that its members cannot practice religion, or else it will “tear the party apart” and cause religious activities to “fundamentally collapse.” If party members want to practice a religion, they should first leave the party, he added.”

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Ignorance and Deceit in Ancient China

Posted by w_thames_the_d on June 19, 2013

This information about China was written over 200 years ago but is still painfully obvious. The
author penned this in 1790 and the truisms were that the Chinese had regressed in ‘civility’ at that time and also that the Chinese were too arrogant to realize how barbaric they were.

:If opinions were solely to be formed of China and its inhabitants from the accounts of the first travellers and even of later missionaries, they would often be inadequate and unjust; for those writers, although they probably did not mean to deal in fiction, yet when they do tell the truth, they do not always tell the whole truth, which is a mode of narration that leads to error almost as much as falsehood itself.
When Marco Polo, the Venetian, visited China in the thirteenth century, it was about the time of the conquest of China by the western or Mongol Tartan, with Kublai Khan, a grandson of Genghis Khan, at their head. A little before that period the Chinese had reached their highest pitch of civilization, and no doubt they were then a very civilized people in comparison of their Tartar conquerors, and their European contemporaries, but not having improved and advanced forward, or having rather gone back, at least for these one hundred and fifty years past, since the last conquest by the northern or Manchu Tartars; whilst we have been every day rising in arts and sciences, they are actually become a semi-barbarous people in comparison with the present nations of Europe. Hence it is that they retain the vanity, conceit, and pretensions that are usually the concomitants of half-knowledge, and that, though during their intercourse with the embassy they perceived many of the advantages we had over them, they seemed rather surprised than mortified, and sometimes affected not to see what they could not avoid feeling. In their address to strangers they are not restrained by any bashfulness or mauvaise honte, but present themselves with an easy confident air, as if they considered themselves the superiors, and that, nothing in their manners or appearance could be found defective or Inaccurate.
Their ceremonies of demeanour, which consist of various evolutions of the body, in elevating and inclining the head, in bending or stiffening the knee, in joining their hands together and then disengaging them, with a hundred other manoeuvres they consider as the highest perfection of good breeding and deportment, and look upon most other nations, who are not expert in this polite discipline, as little better than barbarians.

The court character is a singular mixture of ostentatious hospitality and inbred suspicion, ceremonious civility and real rudeness, shadowy complaisance and substantial perverseness; and this prevails through all the departments connected with the Court,”

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