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Earlier quoted context omitted.
This is more totalitarian than crushing a citizen in a public square with a tank?
Tank man wasn't crushed, FYI.
Dong Xiaojun, Lin Renfu, Wang Peiwen, Tian Daomin, are among those identified who have been crushed by tanks.
Older list: http://www.hrichina.org/en/list-155-victims-beijing-massacre
Earlier quoted context omitted.
China's economy is crashing, and Chinese government is panicking.
Can you give any more details on "China's economy is crashing"? I must admit I haven't heard anything negative about their economy, thought it was on the up and up.
So the PBOC is taking further steps to plug the leak. Not unexpected. China has exchange controls. Internal yuan cannot be easily converted to euros or dollars. There are limits on capital outflows. The controls are leaky; the classic leak is to send all your relatives to Hong Kong loaded up with the maximum allowed amount of yuan in cash. The current limit is about $50K/year/person. Small leaks are thus tolerated. B…
What's a good resource on this?
Is it just me or has China been doing some crazy regulatory stuff recently. Idk if there's an overall mosaic I'm missing or if these are unrelated.
China's economy is crashing, and Chinese government is panicking.
All comments so far have been pro-bitcoin... does nobody think this could actually be a sensible decision?
For a totalitarian country, yes.
Earlier quoted context omitted.
Can you give any more details on "China's economy is crashing"? I must admit I haven't heard anything negative about their economy, thought it was on the up and up.
Exactly it can't keep going up and up. https://www.google.com/amp/www.telegraph.co.uk/business/2017...
Is it just me or has China been doing some crazy regulatory stuff recently. Idk if there's an overall mosaic I'm missing or if these are unrelated.
- promise to block all VPN services from accessing blocked website
- law to hold chat group owners responsible to what the members say (controverse political talk or gambling for example can lead to arrests)
- most of casual barbecue that were held in the streets last summer have been forced to close this year in my area
- tightening and more scrutinity on visa applications for foreigners (there has been some abuse so this is legitimate)
- more random drug tests and work visa checks on foreigners (again there are many illegal teachers so can't blame them)
- ban of many cheeses (like blue cheese)
- ban of Winnie the pooh from social media following a picture mocking Xi as looking like Winnie
China is getting more and more authoritarian and strict. Some of these moves are because of the big party congress in one month where Xi is excepted to renew his term
So the PBOC is taking further steps to plug the leak. Not unexpected. China has exchange controls. Internal yuan cannot be easily converted to euros or dollars. There are limits on capital outflows. The controls are leaky; the classic leak is to send all your relatives to Hong Kong loaded up with the maximum allowed amount of yuan in cash. The current limit is about $50K/year/person. Small leaks are thus tolerated. B…
> Why China has tight exchange controls is beyond the scope of this discussion. What's a good resource on this?
What's interesting to me is that no amount of bad news appears to affect the price of BTC. I'm not a professional or amateur trader (I've got no position on BTC at all) but the price fluctuations really seem dominated by sentiment over any sort of fundamentals.
It does seem to have some effect. Bitcoin "crashed" last week quite a few pecentage points (see https://coinmarketcap.com/currencies/bitcoin/#charts click 1M or 3M and see September 15th). Like stocks though, it is always hard to pinpoint why , because it's a market with lots of different opinions.
-Mahatma Gandhi