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0 pointssgt5y ago0 comments

But China is still rotten to its core. Eventually that'll backfire heavily on both Shenzhen and entrepreneurs trying their luck there.

0 comments

Ygg25y ago

Being rotten, never stopped anyone.

The biggest problem is that money can get easily into China, but not so easily out of it.

4111111111111115y ago

They love to export goods, so it's still easy enough.

That will have complications in the future, but that's the next generations issue, not the person making the decision today that wants a nice bonus.

elcomet5y ago

When they export, money gets in. But they don't import much , if you look at china's trade balance, it's at + 421 billion dollars [1] (money going in) while USA is at -616 B [2].

So it's in fact hard to get money out of china.

[1] https://www.statista.com/statistics/263632/trade-balance-of-...

[2] https://www.statista.com/statistics/220041/total-value-of-us...

Aperocky5y ago

But the total import of China in 2019 is $2.09 trillion. Which is 5 times the surplus you mentioned.

If your think that surplus is a lot, then 5 times that is definitely not "they don't import much"

OkGoDoIt5y ago

Regardless of your opinion on Chinese politics (or your opinion on California politics for that matter), Shenzhen is absolutely blowing up. Just talking with random tech and startup people there, you feel an energy and optimism that is hard to find in the bay area these days. As a non-Chinese citizen, investing in property there feels a bit too risky for my appetite, but I certainly would not bet against it.

eptcyka5y ago

And the states are not?

sgtOP5y ago

The US is a stable and functioning democracy. This is not to say it is perfect.

bluntfang5y ago

>The US is a stable and functioning democracy.

Our current president and almost half of the country explicitly doesn't think so.

dimitrios15y ago

This is hogwash, and a lie mostly propagated by blue check journo twitter. Remember, twitter is not representative of anything even close to consensus political opinion. It's mostly an echo chamber for elites patting themselves on the back for their "correct" opinions https://www.theatlantic.com/technology/archive/2019/04/twitt...

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