The Harsh Reality behind China’s Growth Story

[touchring]

Re: The Harsh Reality behind China’s Growth Story

When I was in Taiwan, I saw an old man fall off his scooter. Nobody helped him, at least for some time. I asked a friend about this. Apparently, people worry about getting sued. In this case, somebody might be accused of causing the accident and have to pay a lot of money.

I am not sure why I thought of this after reading your comments, touchring. But, I believe you are absolutely correct in your assessment.

I think people will first observe the old man from a safe distance.

As more people gather around and watch, there will be enough "witnesses" around and when it is safe to do so, someone will make the initiative to help him out.

[Jay]

Re: The Harsh Reality behind China’s Growth Story

LOL, I only responded to the word "work camp". And you brought out more stuff. hahahaha

I am pretty sure you can't read any chinese. lol. I suggest you understand the caption at the begining of the video. It is clearly stated the outrage of this case. And the police is going after the guy. So, I suppose to believe all the chinese are like that because of this video? Ok let me give you some news. http://www.courthousenews.com/2010/06/24/28330.htm Police Tasered an 86-year-old disabled grandma in her bed and stepped on her oxygen hose until she couldn't breathe. I am pretty damn sure that no chinese is so sick to pull this shit. I am pretty sure you are right about vast cultural gap between our cultures. One thing for sure. Chinese know the bullcrap they are told. And americans on the other hand believe all the bullcrap they are told. That is the real difference btw your culture and theirs.

I am glad there was outrage in this case. It is warranted. Again, I suspect the initial response would have been different in America.

Your link shows what appears to be the overreach of an American police officer. I am glad that this type of behavior still makes news. We still have some freedom of the press here in America, thankfully. Hopefully the case finds the courtroom and appropriate justice is served. There is a good chance, as screwed up as the morals of our country have become, that this woman will be heard in court if she so desires. Would this woman have access to the same freedom of the press and justice in China?

[touchring]

Re: The Harsh Reality behind China’s Growth Story

Would this woman have access to the same freedom of the press and justice in China?

I think it will depend on the social status of this woman.

A couple years back I was at a train station in Shanghai, it was a windy day at near freezing temperature and there was a slight drizzle, so people cramped into the ticketing hall. While waiting for a friend, I saw a station security guard using a short traffic guiding stick to hit at peasant migrant workers (you can identify them from their clothing and huge canvas traveling bags and their look - yes, they look different from the Shanghainese) and shooing them out of the building. The peasants resisted so the security guard kept hitting at back while they retreated reluctantly out of the building.

This attracted my attention as I thought we can't wait inside the ticketing hall, but after the security guard had chased out the peasants, he stood guard at the entrance, so I reckon I could stay within the building.

I know segregation of the lower class from the upper class is common in India, in fact, the poor in India won't even dare to enter a nice government building, having been to India many years ago, but this is China, which is suppose to be a communist country.

I've been to a couple of developing Asian countries, Malaysia, Indonesia, Thailand, Nepal, some more than a dozen times, and I've never seen anything similar, other than India of course which I mentioned the poor would segregate themselves on their own initiative.

[Jay]

Re: The Harsh Reality behind China’s Growth Story

A couple years back I was at a train station in Shanghai, it was a windy day at near freezing temperature and there was a slight drizzle, so people cramped into the ticketing hall. While waiting for a friend, I saw a station security guard using a short traffic guiding stick to hit at peasant migrant workers (you can identify them from their clothing and huge canvas traveling bags and their look - yes, they look different from the Shanghainese) and shooing them out of the building. The peasants resisted so the security guard kept hitting at back while they retreated reluctantly out of the building.

This attracted my attention as I thought we can't wait inside the ticketing hall, but after the security guard had chased out the peasants, he stood guard at the entrance, so I reckon I could stay within the building.

I know segregation of the lower class from the upper class is common in India, in fact, the poor in India won't even dare to enter a nice government building, having been to India many years ago, but this is China, which is suppose to be a communist country.

I've been to a couple of developing Asian countries, Malaysia, Indonesia, Thailand, Nepal, some more than a dozen times, and I've never seen anything similar, other than India of course which I mentioned the poor would segregate themselves on their own initiative.

Very interesting story, thanks.

I think it will depend on the social status of this woman.

Unfortunately, it is this way in America too, at least to some extent. I suspect on the whole, certainly from your story and what I can glean from the press, that the poor have more defenses in America than China. Probably greatly so. I have only been to Hong Kong so can't speak of the rest of mainland China personally. From what I have been able to read about the treatment of Tibetans and the Uyghur people, it is not just a class issue in China, but one of race too. Again, American minorities are likely to have more protections than minorities living in China. They, of course, are still facing racism and often a much more difficult road than the privileged majority.

The rich and powerful have advantages everywhere. Things in America have changed a lot since the late 60's, but the Chappaquiddick incident is telling. The OJ case comes to mind too. If you call the outcomes in those cases access to justice!

[touchring]

Re: The Harsh Reality behind China’s Growth Story

Unfortunately, it is this way in America too, at least to some extent. I suspect on the whole, certainly from your story and what I can glean from the press, that the poor have more defenses in America than China. Probably greatly so. I have only been to Hong Kong so can't speak of the rest of mainland China personally.

I must say that I've not seen such a scene in other parts of China that I have been to. Again, HK is HK, the city is probably more similar to London than to Shanghai.

[touchring]

Re: The Harsh Reality behind China’s Growth Story

Another little item - China’s Shark Loan Ponzi Finance- Former Microsoft CEO in China is Under Investigation for Shark Loan Activities and Faking Commercial Real Estate Contracts.


The link leads to a Chinese language article. Touchring -- any comments?

Ok, $1 trillion in private scam loans.

Mind you, that's not all, there's another $1 trillion in municipal loans that may end up accountable. Where did the money go? Unlike in America, there is no need for indirect methods like giving high bonuses or commission - that's too troublesome and slow.

The Chinese are more efficient - businessmen, bank officers and government officials help themselves with the cash.


http://www.google.com/hostednews/afp...AOmRZl5NTwgSeg

China banks face 'serious' default risk: report

(AFP) – 1 hour ago

SHANGHAI — Nearly a quarter of the 7.66 trillion yuan (1.1 trillion dollars) that Chinese banks lent to local governments is "at serious risk of default", a report said.

Chinese banks lent huge amounts of money to provincial financing vehicles for construction projects after Beijing called for nationwide efforts to spur the economy.

But now only 27 percent of projects financed by the loans are generating adequate cash flow for repayment, the Century Weekly said in its latest issue, citing the China Banking Regulatory Commission.

And 23 percent of the loans -- or about 1.76 trillion yuan -- face serious default risks, said the report.

The banking regulators, along with the banks that have the biggest exposure, will carry out detailed discussions with local governments starting in September about how to recoup the loans, the report said.

A spokeswoman at the banking regulator, which was also cited in a report on the issue by the Financial Times newspaper, declined to comment on the report when contacted by AFP.

China has powered out of the global crisis on the back of a stimulus package worth four trillion yuan and the state-backed bank lending, which saw new loans nearly double from the previous year to 9.6 trillion yuan in 2009.

The lending spree raised concerns in Beijing over a possible new crop of bad loans that could threaten the world's third-largest economy.

The State Council, or cabinet, warned earlier this year about the risks of lending to financing vehicles set up by local authorities to fund new roads, bridges and other projects.

Lending to such entities represented about 18 to 20 percent of total loans in the banking system, rating agency Standard & Poor's said last week.

"It's highly likely that some of these loans will turn bad over the next few years, given the questionable credit quality of many of the borrowers," said Liao Qiang, a Beijing-based analyst at Standard & Poor's.

The roughly 1.76 trillion yuan at risk of default would be nearly four times the amount of all non-performing loans in Chinese banks as of the end of June, according to figures released by the bank regulator.

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