Re:‘The China Hustle’, a finance documentary
by thisisit on Sunday April 01, 2018 @01:18PM
(#16729347)
I watched the documentary today and it is not about the Chinese economy.
The documentary points out an interesting contrast. Most of these companies were filing correct figures in China. But they were filing fudged figures in US. Because it was difficult to get information out of China, no one bothered to verify. It sounds ridiculous.
But then I read stories about people being encouraged to admit fake data to get more subsidies:
https://asia.nikkei.com/Politics-Economy/Economy/Chinese-loc...
And I understand. The whole place is so opaque that getting actual information requires people on the ground or some whistle blower.
Re:‘The China Hustle’, a finance documentary
by jjeaff on Sunday April 01, 2018 @11:33PM
(#16732096)
I'm not sure there is any way to know how the Chinese economy is doing. They could be in a serious recession for all we know. The only numbers available are basically state propaganda and can't be trusted.
Re:‘The China Hustle’, a finance documentary
by bobthepanda on Sunday April 01, 2018 @12:29PM
(#16729080)
If China had normal capital flows, their economy would’ve corrected Japanese-style a while ago.
However, they don’t. And like Japan, they have a huge amount of reserves. But it is supressing future growth, probably.
I wonder: were people talking about the subprime mortgage crisis that long? Do we just hear about stuff sooner because of the Internet being more mainstream? Is China possibly immune to a downturn just given its sheer size in population, the fact that it's basically a dictatorship, and that it's not affected much by outside money?
I've been bearish on the Chinese economy since 2012. Luckily I didn't bet on it.