Here’s a good Chinese scam that hurt the boss…
Joint venture for a massive FPSO with CNOOC and a well know local partner ( they had all dealt with before) and several overseas companies hence one of the overseas companies sourced and supplied a huge pressure tube and end caps etc to be welded in China.
As they were suspicious they made sure the unloading agent filmed it leaving the ship and they had a continuous chain of custody from the mill.
12 months later at the hydro-static test it exploded at half working pressure.
Everyone screaming ah… called class in, cut sample out of the tube and tested.
The tube was not the one unloaded off the ship.
The investigation worked out the truck left the port with the stuff but another truck arrived in the yard with a cheap copy of the parts and nobody knew.
It cost that local engineering firm million of dollars.
No wonder a building falls down every few months in China
They just dont care…
Rich today better than rich tomorrow, so much for a country that people keep claiming makes decisions for the long term.
Same for Thai’s and Taiwanese in this regard.
The same guy that posted that video has a YouTube Channel that he has posted from China for some time:
Yes I know, YouTube is not available in China, but there are ways around that.
BTW; Most Chinese don’t miss it and don’t care about YouTube. They use any (or all) of the 9 local Chinese eqv.:
The 2 guys lived in China for almost 15 years, both are fluent speakers and readers.
Traveled to the all corners of China, some great footage of the motorbike treks.
Married Chinese women.
They have a pretty good insight into China
An opinion on how China will try to exploit the Afghanistan debacle:
PS> Richard Haass has extensive experience from China and has studied Chinese policy for a long time.
A very good BBC documentary of China’s Magic Weapon. How they influence and penetrate worldwide, with unlimited resources, politicians, especially universities and businesses.
In September 2014 Xi Jinping gave a speech on the importance of united front work—political influence activities—calling it one of the CCP’s “magic weapons”. The Chinese government’s foreign influence activities have accelerated under Xi. China’s foreign influence activities have the potential to undermine the sovereignty and integrity of the political system of targeted states.
Stealing western technology is a spear point in these operations. The ultimate goal is to surpass the US and the West in thirty years and as things are now going in less time.
what is the CCP up to?
I heard a couple of years ago from a buddy ( Chinese) that worked in China as a business adviser, that the gov can see that these large companies like alibaba etc create one rich person and thousands of low paid workers.
Hence…
The joke at university when leaving is, " so are you putting it in the cardboard box or delivering it"
They knew something would happen, I guess it has just started.
Xi cracking down as the economy slows, gaining more control
( Its all the English Language schools that are closing, some being converted to Charities)
Back to Mao’s system of education which was remove education in case somebody thought for themselves.
Plus a whole lot of newly nationalised companies.
Maybe in China the idea of nationalism and nationalised companies is the same thing?
A few people losing billions last week, this week will be interesting.
I wonder what the young people are thinking, they know to be rich is glorious but that is now only for politicians?
Shanghai to get it’s first Submarine Museum:
another one gone…
This isn’t a bad idea.
Online gamers under the age of 18 will only be allowed to play for an hour on Fridays, weekends and holidays, China’s video game regulator has said.
perhaps not a good name for a company with USD400 billion of debt…
https://www.nasdaq.com/articles/explainer-how-china-evergrandes-debt-woes-pose-a-systemic-risk-2021-07-27-0
all sounds bad to us westerners but its just the CCP making sure it stays in control.
https://money.cnn.com/investing/china-stock-market-meltdown/
BIMCO: China’s 49.2 manufacturing PMI indicates falling activity in August:
https://bi-cd02.bimco.org/news-and-trends/market-reports/shipping-number-of-the-week/20210902-snow
Did you get any news on Pres XI new manifesto ?
http://www.news.cn/politics/2021-08/29/c_1127807097.htm
Sounds like they are going to have another cultural revolution, which has already started of course.
best part
“China is currently facing an increasingly severe and complex international environment. The United States is implementing increasingly severe military threats, economic and technological blockades, financial strikes, political and diplomatic siege against China, and is launching biological warfare, cyber warfare, and public opinion against China. Wars and space wars have increasingly launched a color revolution against China through the fifth column within China.”