I think Zhu has a lot of insight, and that it is independent from his being a Chinese national, although the comparative examples are instructive. Particularly, I refer to his observation that wealthy people in the west seem seldom to suffer as a result of their serial malfeasances. In fact, they just get richer at the expense of those they exploit.
"Hedge funds" are purely private, invitation-only cabals of mostly predatory wealthy people. You and I can't just buy into one like, say, an index fund. Hedge funds are the bad guys- scarcely regulated ways for the ultra rich to gamble with their surplus money at our expense. Show me one that does the public any good at all, directly or indirectly, now or later. Show me.
Always insightful but knowledge is critical for everyone, not just those who can pay to subscribe. In fact it may be more essential for those who cannot afford subscriptions.
Also can't forget that the US has a debt-based economy (thank you Reagan.) Regular, working-class people find themselves having to go into debt for very basic things like education, medical care, et cetera and the consequences for that are absolutely dire. It's what happens when you mix morality with money (and immorality with the lack thereof.)
A lot of misconceptions about China in the West and particularly the US are driven by fear. That fear is perpetuated by politics - the 'Us against Them' narrative. Last summer in Europe we met many Americans, nice, friendly people - but seemed genuinely afraid of China. Many questions were asked about whether it was safe to visit. One gentleman said he'd been to China. It was in the 1980's when he went to Hong Kong with the US Navy!
In this country that system would be rife with corruption and bribery. It would not function as designed, it would be used to target racial minorities and political opponents.
I think Zhu has a lot of insight, and that it is independent from his being a Chinese national, although the comparative examples are instructive. Particularly, I refer to his observation that wealthy people in the west seem seldom to suffer as a result of their serial malfeasances. In fact, they just get richer at the expense of those they exploit.
one of the reason why some rich Chinese like to diversify their assets to north American, especially hedge fund of wall street..
"Hedge funds" are purely private, invitation-only cabals of mostly predatory wealthy people. You and I can't just buy into one like, say, an index fund. Hedge funds are the bad guys- scarcely regulated ways for the ultra rich to gamble with their surplus money at our expense. Show me one that does the public any good at all, directly or indirectly, now or later. Show me.
Always insightful but knowledge is critical for everyone, not just those who can pay to subscribe. In fact it may be more essential for those who cannot afford subscriptions.
Thank you!
NZ - Interesting. This definitely sheds some light on it. Thank you.
Thank you for reading
Also can't forget that the US has a debt-based economy (thank you Reagan.) Regular, working-class people find themselves having to go into debt for very basic things like education, medical care, et cetera and the consequences for that are absolutely dire. It's what happens when you mix morality with money (and immorality with the lack thereof.)
Excellent. Thank you for this.
Thank you!
A lot of misconceptions about China in the West and particularly the US are driven by fear. That fear is perpetuated by politics - the 'Us against Them' narrative. Last summer in Europe we met many Americans, nice, friendly people - but seemed genuinely afraid of China. Many questions were asked about whether it was safe to visit. One gentleman said he'd been to China. It was in the 1980's when he went to Hong Kong with the US Navy!
Super safe to visit China, you gonna have fun there.
Where and what are your sources of info?
Cuz I am chinese? and I know the law?
Brilliant read thanks!
As always, insightful.
In this country that system would be rife with corruption and bribery. It would not function as designed, it would be used to target racial minorities and political opponents.