China’s credibility??

F

Financial Saint

This is not a post about whether China is buying or selling Euro debt or currency, but is about: can we trust anything that comes out of China. China is still a communist country. It is run by a socialist communist party, which 300 of their top members run the entire country. The corruption extremely high, a lot of people think that corruption in China is not as bad like it is in Eastern Europe. My strong belief is that it is about the same or worst. I just think the Chinese are more disciplined as people and that discipline in a system does not allow for the news about corruption to leak out, like in Eastern Europe or any other highly corrupt countries.

So the conclusion is: “The Chinese do not have the credibility that a lot of people are giving them.”
 
Quote from Financial Saint:

This is not a post about whether China is buying or selling Euro debt or currency, but is about: can we trust anything that comes out of China. China is still a communist country. It is run by a socialist communist party, which 300 of their top members run the entire country. The corruption extremely high, a lot of people think that corruption in China is not as bad like it is in Eastern Europe. My strong belief is that it is about the same or worst. I just think the Chinese are more disciplined as people and that discipline in a system does not allow for the news about corruption to leak out, like in Eastern Europe or any other highly corrupt countries.

So the conclusion is: “The Chinese do not have the credibility that a lot of people are giving them.”
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I will take the other side of the coin - what makes you think that China ISN'T credible?
 
If everybody knew you had a crapload of Euro and scary things were happening, would you?

A: Warn everybody you are about to dump it before you do;
B: Lie to everybody that it is an awesome currency that you'll keep `til you die, then dump it; or
C: Tell everybody it's awesome and keep it?


A is a choice so poor even CNBC anchorbabes know better. IMO it makes sense to do at least a little of some form of B - lay off some risk in some manner.
 
Quote from AKUMATOTENSHI:

Reguardless of the sentiment issue they have the equity and capital to make things happen.

Akuma
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With great power comes great responsibility. They've got a lot of skin in the game.
 
China is NOT a communist country. Not even close.

It is very much totalitarian, although it's probably a kinder and genlter form of totalitarianism.
 
Quote from Financial Saint:

This is not a post about whether China is buying or selling Euro debt or currency, but is about: can we trust anything that comes out of China. China is still a communist country. It is run by a socialist communist party, which 300 of their top members run the entire country. The corruption extremely high, a lot of people think that corruption in China is not as bad like it is in Eastern Europe. My strong belief is that it is about the same or worst. I just think the Chinese are more disciplined as people and that discipline in a system does not allow for the news about corruption to leak out, like in Eastern Europe or any other highly corrupt countries.

So the conclusion is: “The Chinese do not have the credibility that a lot of people are giving them.”
More...

The smartest people in the world can't figure out China, I doubt you could figure them out. There are a lot of times China would do things that makes absolutely no sense, predictable or for any particular reason. They're kind of like psychos; 'its best to stay away' LOL :D
 
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