I have a fairly dim view of China's ethics and respect for human rights, and so tend to suspect the worst; however, the hyper-competition in China's production industries has led to product ecosystems rife with unsafe materials (e.g. lead), and other cut corners. Now that many Chinese are able to purchase the things they produce, I can imagine that safety regulations are starting to be demanded by the public, and that is a good thing. Nevertheless, I am sure this push will also be used to further crackdown on political dissent and to consolidate power, I can well imagine.
> I can imagine that safety regulations are starting to be demanded by the public, and that is a good thing
I remember seeing a sign at the Hong Kong border when going to the mainland warning that there was a maximum amount of infant formula that could be taken across. Hopefully this is that crackdown.
USSR followed the same path when their citizens grumbled about liberalization. State owned enterprises are now seizing power from private companies and foreign entities. Pretty soon you are going to see replays of USSR SoE dominance such as lack of innovation, bread lines, inefficient operation, and corruption. It seems xi jing ping did not fully study the downfall of USSR after all.
> they really are keen on annoying investors aren't they. i wonder for how long tencent and the other conglomerates will obey these orders
They will obey as long as the state has power, which will be for the far foreseeable future.
The Chinese government has been smart enhance its power by keeping its domestic businesses in a strictly subordinate position and creating an environment were foreign businesses cooperate because dependence is the best business decision (e.g. Apple has no "plan B," it's China all the way for them).
And it might work out for them, especially if foreign nations continue to complacently indulge in free market Kool-Aid.
i wonder for how long tencent and the other conglomerates will obey these orders
Strange question with what I would consider to be an obvious answer. They will obey for as long as they want the profits they get from China's market of video game players for instance. Which strikes me as pretty much "forever".
What company is gonna leave and give that kind of gift wrapped profit center to someone else voluntarily?
> i wonder for how long tencent and the other conglomerates will obey these orders
Probably as long as the regulation exists. It is amazing, but once there is the real threat of personal, physical imprisonment, most CEOs are pretty good about making sure regulations get followed despite any impact on the stock price.
If they can make Jack Ma disappear for months over some casual comments - I think executives at these conglomerates understand the message pretty clearly.
My tinfoil hats say that they realize that we are in the age of ultra loose monetary policy, so abundance of capital. Therefore it's time to clean the house. Gonna spook investors of course, but hey all other places offer zero or minus yield rate, China still has positive yield anyway.
> “Strengthen the construction of the national ‘Internet + supervision’ system, and realize the integration and aggregation of data from supervision platforms by the end of 2022.”
I'll bet they're pleased with you-know-who's you-know-what.
"Internet+ supervision" doesn't refer to supervision of the internet, but using the internet to make supervisory agencies in general more efficient. E.g. this post by the Zhejiang Archives from 2019 http://www.zjda.gov.cn/art/2019/6/10/art_1378485_34553497.ht... mentions that employees no longer have to carry around documents and manually fill them in to do their work, but can use an app for that.
The part you quoted probably means they want to get to the point where if someone in Jiangsu needs documents archived in Zhejiang, they can just access them through a unified platform instead of having to ask their colleagues there to send them over.
explicit goal is actually the opposite and it's likely not just empty words. If you've done business in China as a foreigner over the last few years the court system in particular has actually become more reliable and noticeably quicker. It used to be way more arbitrary and chaotic about ten-ish years ago.
Im by now convinced that xi jinping, in the back of his mind, hates the communist party and its apparatus, and wants to destroy it by going back to a north-korea style totalitarianism, against which the citizens will rebel en mass.
I take a much dimmer view of this. Xi knows that climate change is coming and its going to be really bad. One of the issues coming from climate change is food shortage.
Food shortage is going to cause riots in US, Canada, and EU for sure. Just based on the vaccine protests/riots, imagine what will happen when rationing is introduced.
He's going to crack down hard and control the population, so when the inevitable comes there is acceptence.
Xi is just trying to centralize party control over the country, and solidify his grip on it. This is very common in dictatorships, take North Korea for example.
>Food shortage is going to cause riots in US, Canada, and EU for sure
The US (along with France) can easily supply all the food they need to its citizens. Along with the alliances with Mexico and Canada, the US is not going to have food shortages, much less riots.
China, on the other hand, is definitely screwed on this front. All of its neighbors are either outright enemies or begrudging allies. As the global order continues to collapse, China will see constraints on its shipping routes that will lead to shortages of key goods.
The food shortages won't hit as bad, though, since the population is declining. Just not fast enough, unfortunately.
SubiculumCode|4 years ago
cheriot|4 years ago
I remember seeing a sign at the Hong Kong border when going to the mainland warning that there was a maximum amount of infant formula that could be taken across. Hopefully this is that crackdown.
echaozh|4 years ago
I don't know if you really mean it or you are forced to well imagine it so your comment won't be downvoted.
itmayno|4 years ago
cucumb3rrelish|4 years ago
tablespoon|4 years ago
They will obey as long as the state has power, which will be for the far foreseeable future.
The Chinese government has been smart enhance its power by keeping its domestic businesses in a strictly subordinate position and creating an environment were foreign businesses cooperate because dependence is the best business decision (e.g. Apple has no "plan B," it's China all the way for them).
And it might work out for them, especially if foreign nations continue to complacently indulge in free market Kool-Aid.
bilbo0s|4 years ago
Strange question with what I would consider to be an obvious answer. They will obey for as long as they want the profits they get from China's market of video game players for instance. Which strikes me as pretty much "forever".
What company is gonna leave and give that kind of gift wrapped profit center to someone else voluntarily?
RcouF1uZ4gsC|4 years ago
Probably as long as the regulation exists. It is amazing, but once there is the real threat of personal, physical imprisonment, most CEOs are pretty good about making sure regulations get followed despite any impact on the stock price.
Alupis|4 years ago
mc32|4 years ago
yogthos|4 years ago
eunos|4 years ago
AzzieElbab|4 years ago
csense|4 years ago
SubiculumCode|4 years ago
Edit: If
kps|4 years ago
I'll bet they're pleased with you-know-who's you-know-what.
yorwba|4 years ago
The part you quoted probably means they want to get to the point where if someone in Jiangsu needs documents archived in Zhejiang, they can just access them through a unified platform instead of having to ask their colleagues there to send them over.
SkyMarshal|4 years ago
warning26|4 years ago
Barrin92|4 years ago
ep103|4 years ago
jet_32951|4 years ago
fw4h5|4 years ago
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PicassoCTs|4 years ago
kragen|4 years ago
unknown|4 years ago
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thombee|4 years ago
RegnisGnaw|4 years ago
Food shortage is going to cause riots in US, Canada, and EU for sure. Just based on the vaccine protests/riots, imagine what will happen when rationing is introduced.
He's going to crack down hard and control the population, so when the inevitable comes there is acceptence.
nickff|4 years ago
flavius29663|4 years ago
1MachineElf|4 years ago
I'm curious how that will work. Are you saying CCP propaganda on TikTok is going to ease famine?
websites2023|4 years ago
The US (along with France) can easily supply all the food they need to its citizens. Along with the alliances with Mexico and Canada, the US is not going to have food shortages, much less riots.
China, on the other hand, is definitely screwed on this front. All of its neighbors are either outright enemies or begrudging allies. As the global order continues to collapse, China will see constraints on its shipping routes that will lead to shortages of key goods.
The food shortages won't hit as bad, though, since the population is declining. Just not fast enough, unfortunately.
thombee|4 years ago
FredPret|4 years ago
Not saying it’s a good thing overall of course.