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MikeHunt reče Dne, 17. 9. 2021 at 13:06:

na kitajskem se ocitno dogaja Vegrad situacija

 

a se lahko zgodi en minoren Lehman brothers style globalni kaos, če partija dejansko ne poseže vmes? ker kakor sem zasledil, so tudi zahodne banke precej izpostavljene pri kreditiranju Evergranda?

uredilo bitje hawa meyta
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In August, Xu Jiayin, Evergrande’s founder and one of China’s wealthiest men, stepped down as chairman of the property group. Trading in the company’s bonds has been suspended in Shanghai. Police descended on Evergrande’s office building in Shenzhen when individual investors in the company’s myriad “wealth-management” products gathered to demand repayment.

Evergrande’s demise is a reflection of the dangers of uncontrolled property speculation in the capitalist sector of China’s economy.  Evergrande relies heavily on customers paying for flats before the projects are completed. The Evergrande property model is essentially a Ponzi scheme, where the company collects cash from the pre-sale of an ever-growing number of apartments, plus hundreds of thousands of individual investors and uses the cash to fund further sales by accelerating construction in progress and funding down-payments. Like any Ponzi, this works as long as it’s accelerating. But when the market slows, those incoming streams of cash start to fall behind the growing arc of cash demands. Evergrande now has about 800 unfinished projects and there are about 1.2 million people waiting to move in.

The government controls nearly everything, including the central bank, the big four state-owned commercial banks which are the largest banks in the world, the so-called ‘bad banks’, which absorb bad loans, big asset managers, most of the largest companies. The government can order the big four banks to exchange defaulted loans for equity stakes and forget them. It can tell the central bank, the People’s Bank of China, to do whatever it takes. It can tell state-owned asset managers and pension funds to buy shares and bonds to prop up prices and to fund companies. It can tell the state bad banks to buy bad debt from commercial banks.  So a financial crisis is ruled out because the state controls the banking system.

It’s true that China has built up a debt mountain in recent years, of which property debt is a significant part.  Total debt hit 317% of GDP in 2020. But most of this debt is in domestic currency and is owed by one state entity to another; from local government to state banks, from state banks to central government. When that is all netted off, the debt owed by households (54% of GDP) and corporations is not so high, while central government debt is low by global standards. Moreover, external dollar debt to GDP is very low (15%) and indeed the rest of the world owes China way more: 6% of global debt. China is a huge creditor to the world and has massive dollar and euro reserves, 50% larger than its dollar debt.

https://thenextrecession.wordpress.com/2021/09/19/not-so-evergrande/

 

 

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Embattled Chinese property developer's shares up 17% on Thursday on market perceptions it will avoid a disorderly debt resolution
[Commentators] said Beijing would only extend a lifeline if Hui gave up his fortune to repay the company’s debts.


“Over the past many years, Evergrande has not built any public infrastructure that can support China’s economy. The central government should protect the country, not businessmen who have tens of billions yuan at home and private jets…their single meal can feed people in half a village. They bought football and basketball teams but did not create any brands. What were they doing? Definitely no bailout,” said Cao.
He said Beijing had refused to bail out Evergrande but ordered Hui to compensate homebuyers and wealth product investors to avoid social instability. He said if Evergrande’s problems led to social unrest, Hui would likely go to jail.

https://asiatimes.com/2021/09/evergrande-shares-surge-as-collapse-risk-eases/

 

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China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets".

https://www.bbc.com/news/technology-58678907

uredilo bitje AdamSmit
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The world top academic journal Science on Friday published a major breakthrough in the artificial starch synthesis made by a research institute of the Chinese Academy of Sciences (CAS). The research is the first time in the world to achieve synthesis of starch from carbon dioxide. Scientists believe it will have a revolutionary impact on future agricultural production and bio-manufacturing.

Ma Yanhe, director of the Tianjin Institute of Industrial Biology (TIB) and corresponding author of the paper named "Cell-free chemoenzymatic starch synthesis from carbon dioxide," told media that the institute designed a new pathway of unnatural carbon dioxide fixation and starch synthesis from scratch in an 11-step reaction.

"It also means starch could in future be made from carbon dioxide in a process similar to brewing beer," Ma said, noting carbon dioxide can be reduced to methanol, which can be converted to starch.

https://www.globaltimes.cn/page/202109/1235013.shtml

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Zeleni bodo dobili kar so hoteli

 

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Ko kihne Kitajska, dobi svet pljučnico. Kriza dobavnih verig se bo samo še povečala. Božič v Evropi in ZDA je ogrožen. Kitajska podjetja niso zaprta zaradi korone, kitajska podjetja – dobavitelji ameriških in evropskih podjetij – so zaprta zaradi tega, ker ni elektrike. Elektrike ni, ker ni premoga. Premoga ni, ker Kitajska izpolnjuje zelene zaveze.

 

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Lord Baltimore reče pred 11 minutami:

 

Link?

lahko tudi

 

https://www.wsj.com/articles/china-power-outages-pose-new-threat-to-supplies-of-chips-and-other-goods-11632769617

 

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For companies operating in Kunshan and other similar areas, the problems have stemmed largely from China’s efforts to curb energy consumption as the country tries to burnish its climate credentials ahead of a climate summit in Glasgow this November.

The country’s powerful economic-planning agency has set a target to cut energy intensity per unit of gross domestic product by about 3% from last year, as part of a bid by Beijing to reach peak emissions before 2030.

The policy means, in effect, that electricity use has to grow at a lower rate than GDP. In the first half of 2021, however, electricity use rose 16.2%, while GDP increased 12.7%, with GDP expected to slow further in the second half of the year.

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“It’s clear by now that Beijing is willing to sacrifice higher growth this year in exchange for structural reforms in some areas.”

based china

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Milim da vsaka one issue stranka ki doseže svoj raison d'être z veseljem odjaha v sončni zahod...

 

Kar se pa tiče energetskih ukrepov je pa ironija, da je komunistična partija skužila kam piha veter in da je bolj ugriznit kislo jabolko ter se pozicionirat za vodilnega v prihajajočem modelu gospodarskega razvoja, dočim CDU je šel pa na volitve z "verbrennungsmotor über alles"

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