Currency War: U.S. Hedge Funds Mount New Attacks on China's Yuan • Hacker News Board

Re: Currency War: U.S. Hedge Funds Mount New Attacks on China's Yuan

#151

Post by neurotech1 » Mon, Feb 01, 2016, 5:25 PM UTC

JackFr wrote: post #65

obrero wrote: post #55

Earlier quoted context omitted.

> China has a big us against the world mentality In 2001, George Bush ordered the Air Force to fly along the Chinese border, to purposefully set off China's attack systems. Then, one of the fighter jets rammed into a Chinese pilot, crashing his plane and killing him. Then, the attacking US plane landed without authorization within Chinese territory. The Chinese sent a crew aboard the airplane and the US media and pol…

This is simply wrong on a number of important facts. https://en.wikipedia.org/wiki/Hainan_Island_incident A Chinese interceptor fighter jet collided with a propeller powered US electronics intelligence aircraft flying in international airspace.

Which is precisely why "close encounters" between Chinese & US, or Russian and US, aircraft are treated seriously. Prior to the 2001 Hainan Island incident, it wasn't a serious issue most of the time.

Re: Currency War: U.S. Hedge Funds Mount New Attacks on China's Yuan

#152

Post by khuey » Tue, Feb 02, 2016, 12:27 AM UTC

1stop wrote: post #128

sharetea wrote: post #93

Earlier quoted context omitted.

Foxconn is a Taiwanese company

... The factories are still in China, meaning Chinese are gaining the skills and thus creating an industry for themselves

"Making the physical iPhone" is not a very lucrative industry. "Designing and marketing the iPhone and its software ecosystem" is.

Re: Currency War: U.S. Hedge Funds Mount New Attacks on China's Yuan

#153

Post by mahranch » Tue, Feb 02, 2016, 1:36 AM UTC

vox_mollis wrote: post #145

mahranch wrote: post #3

China's economic growth simply isn't sustainable, and that's even if it was true growth. There isn't a top economist alive who believes China's self-reported GDP numbers aren't fudged in one way or another (source: http://www.businessinsider.com/economist-reactions-to-chinas... ). Either one of those situations (an economic slowdown, China fudging the numbers, or the more likely situation: a combination of both) make…

There isn't a top economist alive who believes China's self-reported GDP numbers aren't fudged in one way or another Meta: Why is it SOP on HN to downvote/chastise those who claim US economic numbers are fabricated, or post zerohedge/shadowstats links, yet fully embrace the notion of the PRC is doing it? What makes the US so special in its sainthood?

> Why is it SOP on HN to downvote/chastise those who claim US economic numbers are fabricated, or post zerohedge/shadowstats links, yet fully embrace the notion of the PRC is doing it?

Because even if the U.S was doing it, it would be minor fudging. If China is doing it, it's almost wholly fabricated and un-reflective of reality. The U.S has plenty of independent verification of its numbers, and tons of channels for oversight. China literally has no oversight. Their government is the end-all, be-all. The alpha and omega. They don't have any oversight whatsoever. Their government runs the media (that's not an exaggeration, they literally own the news agencies) as well, so you don't get for-profit news organizations who would love nothing more than an economic controversy of that scale to come out so they could report on it and make loads of cash.

Basically, the entire premise is silly if you just use a little critical thinking.