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A comment on China’s property giant Evergrande files for bankruptcy protection in Manhattan. Parent comment

Re:China’s property giant Evergrande files for bankruptcy pr... by ethbr1 on Friday August 18, 2023 @11:27AM (#37176928)
Everyday men and women, which I take to mean middle class, aren't a threat or power base in modern Russia.

They don't have voting power.

They don't have demonstration power.

They don't have access to mass media and free speech.

Short of outright rioting, there's little they can do that matters to the Russian government.

Which means than in a trade-off between {what the people want} and {what those with power want}, the people are going to be ignored.

> (and even has no problem with them exporting that wealth abroad)

"...discuss reintroducing some capital controls to help prop up the struggling rouble."

https://www.theguardian.com/business/2023/aug/16/putin-meeti...

[ Parent | on HN ]
Re:China’s property giant Evergrande files for bankruptcy pr... by anovikov on Saturday August 19, 2023 @08:36AM (#37188136)
Ironically, today the idea of reintroducing capital controls was rejected, officially, "because it was obvious that people will quickly find ways around it anyway". Simply put, there is no need to further increase already terrible level of corruption by introducing another useless but corruption-inducing regulation.
[ Parent | on HN ]