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Long live Trump. Trump is the best. I bow before him in awe.
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Chitchat Al Jazeera: The End Of China Inc?
- Thread starter kryonlight
- Start date
Long live Trump. Trump is the best. I bow before him in awe.
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I watched the video and they took on a neutral stance anyway what you state is totally out of context.
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cry baby m&d who am i (your nick shows you don't even know who the fuck you are) typical ungrateful mudslime where China has aided your mudland and you call them middle finger.
Of course we cannot expect gratitude from a mudlay mudslime that's like expecting a dog to stand up and read out the periodic table.
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oh yeah. now then you watch the video. could have watched the video first before you motor mouth off.
Tat means more medication for cry baby boooo Jah Jamban to bring his stress level down!
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Good job my fellow Chinese dog. More gloom for chinkland and us inferior chinks while proud chinks like proud chink jah suffers!
Good job my fellow honorary Chinese dog. I bow before trump too!
cry baby m&d who am i (your nick shows you don't even know who the fuck you are) typical ungrateful mudslime where China has aided your mudland and you call them middle finger.
Ungrateful? U mean those 30% Chinese dog in Msia?
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3rd order of the day after repealing obamacare and building the wall should be a trade war with china. china will at last cum face to face with a bigger bully.
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Al Jazeera is western tool disguised as an Arab paper. They have always been running documentaries saying China is doomed for years.
I've said before. Sometimes, you need a gangster to fight a gangster. 2017 will be a very exciting year to watch.
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it's doha based, qatari financed, with a twist towards qatari propaganda, i.e. pro-sunni, pro-arab, anti-shiite. china is doomed for years. it's just covered up by fraud and empty shells with nothing to offer inside.
Taiwan President to transit in Houston this weekend and San Francisco next weekend.
http://www.dailymail.co.uk/wires/afp/article-4096706/Taiwan-president-heads-US-Beijing-watches.html
http://www.dailymail.co.uk/wires/afp/article-4096706/Taiwan-president-heads-US-Beijing-watches.html
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can't wait for china to deal with a bigger bully. even congress and the vp today are bullied into submission without trump being there. they just rubber stamped the final electoral count.
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Ungrateful? U mean those 30% Chinese dog in Msia?
why are mudland Chinese Chinese dogs?
Also why u call them ungrateful. See you are a racist m&d yoyo.
What is 5~10% of unsuccessful projects among the MOST BRILLIANT ENORMOUS DEVELOPMENT within Human History EVER?
Most likely it is also a NEVER because no other countries will ever reach this development speed and scale!
Waste? Can be afforded! They are RICH!
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Let the war begin! I am eager waiting to see Trump and his oligarch fire the first shot.
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Goodness, you don't even know who that woman is. You are shooting blanks. That woman is a highly regarded expert on China.
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Zombie firms and China’s economic woes
Now China has spawned its own zombie firms. Over 70 per cent of China’s debt overhang is held by state-owned enterprises, many of whom comprise a vast tribe of walking dead, propped up by bad loans from state-owned banks that they are never likely to be able to repay.
By 2016, following the downturn in the Chinese economy, Chinese industrial companies had developed huge overcapacity problems. Industrial overcapacity has risen from negligible levels before the global financial crisis to levels higher than 30 per cent in industries such as steel and cement. At this year’s National People’s Congress, the Chinese government recognised the issue of ‘zombie enterprises’ and declared that it will shut down or reorganise many state-owned industrial companies by 2020.
As He Fan makes clear in this week’s lead essay, delivering on this goal will not be easy. It is at the heart of China’s reform agenda. Dr He’s analysis is featured in the latest issue of East Asia Forum Quarterly.
‘As Warren Buffett said’, writes He, ‘when the tide goes out, you can see who’s been swimming naked. As China’s growth slows, an army of zombie enterprises has emerged. These zombie companies are heavily indebted, kept afloat only by continuous support from government and banks. The government does not want to see zombie companies wiped out because it worries about the messy results — rampant unemployment and a significant loss of tax revenue. The banks are willing to lend a hand because they do not want to see their earnings fall when forced to make provisions to bad debts’.
He and his colleagues argue that the overcapacity problems in Chinese heavy industry are far worse than is officially acknowledged. In six of the worst affected industries (steel, coal, cement, glass, paper and non-ferrous metal), cutting back overcapacity by 10 per cent, they estimate, would make 4.3 million workers redundant. The cost of unemployment relief is likely to be between US$24 and US$73 billion.
‘In 2009, debt owed by the Chinese government, households, the financial sector and the non-financial sector amounted to 49 per cent, 24 per cent, 15 per cent and 99 per cent of GDP respectively. By the end of 2015, these ratios had increased to 57 per cent, 40 per cent, 21 per cent and 131 per cent’. The corporate sector’s leverage ratio is exceptional compared with other economies.
A quarter of Chinese companies’ profits, it is reckoned, were too low in the first half of this year to cover their debt-servicing obligations. Earnings are languishing while loan obligations increase.
The cost of closing or downsizing Chinese zombie enterprises is likely to be much higher than currently estimated. The government is hesitant to swallow the bitter pill of factory closures and employee layoffs. But, as He points out, merging ailing companies will only create more giant zombies, and debt-for-equity swaps may turn zombie enterprises into much more dangerous zombie banks.
This is a major problem for the Chinese authorities and one that will not be resolved without pain and cost. Delay in dealing with it will only cause bigger problems later, not only for Chinese industrial performance, but for a world also seriously buffeted by Chinese industrial overcapacity.
Now China has spawned its own zombie firms. Over 70 per cent of China’s debt overhang is held by state-owned enterprises, many of whom comprise a vast tribe of walking dead, propped up by bad loans from state-owned banks that they are never likely to be able to repay.
By 2016, following the downturn in the Chinese economy, Chinese industrial companies had developed huge overcapacity problems. Industrial overcapacity has risen from negligible levels before the global financial crisis to levels higher than 30 per cent in industries such as steel and cement. At this year’s National People’s Congress, the Chinese government recognised the issue of ‘zombie enterprises’ and declared that it will shut down or reorganise many state-owned industrial companies by 2020.
As He Fan makes clear in this week’s lead essay, delivering on this goal will not be easy. It is at the heart of China’s reform agenda. Dr He’s analysis is featured in the latest issue of East Asia Forum Quarterly.
‘As Warren Buffett said’, writes He, ‘when the tide goes out, you can see who’s been swimming naked. As China’s growth slows, an army of zombie enterprises has emerged. These zombie companies are heavily indebted, kept afloat only by continuous support from government and banks. The government does not want to see zombie companies wiped out because it worries about the messy results — rampant unemployment and a significant loss of tax revenue. The banks are willing to lend a hand because they do not want to see their earnings fall when forced to make provisions to bad debts’.
He and his colleagues argue that the overcapacity problems in Chinese heavy industry are far worse than is officially acknowledged. In six of the worst affected industries (steel, coal, cement, glass, paper and non-ferrous metal), cutting back overcapacity by 10 per cent, they estimate, would make 4.3 million workers redundant. The cost of unemployment relief is likely to be between US$24 and US$73 billion.
‘In 2009, debt owed by the Chinese government, households, the financial sector and the non-financial sector amounted to 49 per cent, 24 per cent, 15 per cent and 99 per cent of GDP respectively. By the end of 2015, these ratios had increased to 57 per cent, 40 per cent, 21 per cent and 131 per cent’. The corporate sector’s leverage ratio is exceptional compared with other economies.
A quarter of Chinese companies’ profits, it is reckoned, were too low in the first half of this year to cover their debt-servicing obligations. Earnings are languishing while loan obligations increase.
The cost of closing or downsizing Chinese zombie enterprises is likely to be much higher than currently estimated. The government is hesitant to swallow the bitter pill of factory closures and employee layoffs. But, as He points out, merging ailing companies will only create more giant zombies, and debt-for-equity swaps may turn zombie enterprises into much more dangerous zombie banks.
This is a major problem for the Chinese authorities and one that will not be resolved without pain and cost. Delay in dealing with it will only cause bigger problems later, not only for Chinese industrial performance, but for a world also seriously buffeted by Chinese industrial overcapacity.
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- Jul 25, 2013
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so how much money does temasek have invested in china?
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