tag:blogger.com,1999:blog-17478547.post3822504528799932114..comments2024-03-27T20:17:30.597+08:00Comments on Growing your tree of prosperity: The Emperor's New RoadChristopher Ng Wai Chunghttp://www.blogger.com/profile/15534057160494859977noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-17478547.post-63465515677097728252021-01-20T13:53:41.285+08:002021-01-20T13:53:41.285+08:00China wiped out 1/3 of its national reserves in tr...China wiped out 1/3 of its national reserves in trying to rescue zombie companies, industries, and jobs by end-2016. Which is why ever since, Beijing had been very careful in using fiscal bazooka, even during this covid pandemic where it has spent only a fraction of 2015-2016.<br /><br />Even our own expenditure of close to $100B for covid is probably only around 10% of our national reserves. Unknownhttps://www.blogger.com/profile/02938450718690565242noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-51121252598310896312021-01-20T07:43:57.336+08:002021-01-20T07:43:57.336+08:00Maybe I'm naive, but China can easily use thei...Maybe I'm naive, but China can easily use their resources to beef up their own internal "software" even resolve some issues on inequality. Hambantota and Djibouti will taint their reputation and create suspicion of their intentions for decades. Now there we have a US president who will not deal with China on his own, this will look quite bad for them. Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-30601154702820821672021-01-19T23:50:16.294+08:002021-01-19T23:50:16.294+08:00BRI is mainly to help support SOE's & asso...BRI is mainly to help support SOE's & associated employment (most of BRI investments had a criteria to award major contracts to Chinese companies), and to transfer malinvestment & bad debts (but not 100%) onto target countries (bad debt diplomacy). In exchange, China gets access to cheaper industrial commodities e.g. in central asia & africa. And in certain cases, confiscate fixed assets/land e.g. Sri Lanka's Hambantota port.<br /><br />It was particularly helpful to China in the aftermath of the 2015/16 bursting of their infrastructure / building sectors with huge ghost cities & overhang of hundreds of billions of dollars worth of unneeded infrastructure.Unknownhttps://www.blogger.com/profile/02938450718690565242noreply@blogger.com