This will be a mind altering thread so powerful it should be illegal.
Since economic reforms, China implemented a system in which Provincial govs have contracts w/Central for total amount or share of taxes & profits revenue to be remitted, provincial govs keep the rest
It is difficult to FIND TRUTH.
The process of transferring info from bottom up the decision-making pyramid is complex and requires reporting at each level with compounding points of failure
Have no effective monitoring system by which the public can supervise behavior of local gov.
They must endure territorialism, departmentalism, and the fragmentation of authoritarianism.
High economic inequality has weakened its immune system, it is unstable
In China, a crisis threaten the one party regime. Loss of legitimacy has a cascading effect, spilling over in all areas the CCP is involved in.
In 2009, researchers revealed that 80% of charitable donations after 2008’s Sichuan earthquake were funneled into Chinese government coffers as “extra revenue“.
2005 Songhua River benzene spill: 100 tons released, reached Harbin’s water supply, a city of 4m
2008 winter: 78m displaced, 14 provinces, regions and municipalities blanketed
2016 floods: 147k houses destroyed. 21k sq miles of farmland under water
2019 Jiangsu fertilizer explosion kills 78
In January health experts were sent to Heyuan and diagnosed the disease as an infection caused by a 'certain virus'.
The initial investigation report sent Jan 27, marked “top secret,” = only top provincial health officials and the Ministry of Health could open it
For 3 days, there were no authorized provincial health officials available to open the document.
In the meantime, the public was kept completely uninformed about the disease.
On February 11, Health officials finally broke the silence by holding press conferences about the disease.
At the end of Feb, +/- 50% Guangzhou’s 900 cases were health workers.
By March, the epidemic was raging in Beijing
January 2020 Coronavirus epidemic emerged and spread quickly from China’s Wuhan City, in the Hubei Province
February 7 the coronavirus became a crisis within China. The approach to relief was shifted, adopting a system called Counterpart Assistance:
FROM aid dispersal from top-down command by the central government
TO counterpart assistance in which the authority for resource allocation is delegated from the central government to local governments
Skipping away from precision, we'll move to direction...cos your patience is not inexhaustible, neither is mine.
1. Dutch disease occurs when a large number of external resources flow into an area. brookings.edu/blog/future-de…
Counterpart Assistance draws human/material resources to non-tradable sector related to resource, causing wages to increase
Because they operate in global market, tradable sectors cannot adjust quickly to product prices and workers’ wages through supply and demand.
For example the building materials such as for hospitals are bricks, cement. To service this industry are restaurants and other non-tradeable sectors.
China has to initiate a liquidity and stimulus package in the next few weeks in March and April. This will be a pain that lingers on the exchange rate.
The devaluation increases the credit risk of Chinese corporate debtors who have cash flows and collateral mainly denominated in RMB...
The faster devaluation occurs, the more debtors will seek to convert RMB into dollars in an attempt to limit losses = a rapid drain in China’s forex reserve
will bleed out as they are caught between fiscal stimulus and their own budget deficits. Revenues in 11 provinces contracted year-on-year in the first half of 2019 and revenue growth deceleration in 12 other
has a cash crunch and can’t meet its obligations. As it’s a bit complex, this post is helpful Beware the China Exim Bank – 8 countries with bilateral relationships with China along Belt and Road path on the road to ruin adamtownsend.me/china-destruct…
China’s extraction economy all over the world. ain't pretty. This post is about China’s digestion of Bolivia adamtownsend.me/bolivia-coup-c…
A type of co-morbidity, this point will explain China’s Social Credit System adamtownsend.me/china-social-c…
Its the only thread left for them to make a sweater (my saying, you can use it)
This is why they are pumping so much into US think tanks, universities, activist organizations and people with bow ties
🔥 But wait, there's more!
🎼 Turn up the volume, this was March 8 in a maskless Washington Square