My father runs a business in HK with mainland clients so he knows a bit.
Re mechanisms - going rate was 3% to get your money out of china a few months ago (not sure if thats changed now). Mechanisms are varied - a main one is overinvoicing, but there is a huge list. See below in the middle for a list
http://ftalphaville.ft.com/2015/01/29/2104532/china-vs-the-so-called-art-industry/
China?
It's all bad.
People spent at least 312 billion yuan during the lunar New Year period, record spending came to 31% more than during last year's holidays, according to State controlled China UnionPay Co., which runs the national bank card network.
Travel transactions were up 42%!
"The tourism market expanded rapidly, driven by long-term consumption upgrades to the 'happiness economy' and good weather across China,"
Tourism revenue was up 16 percent from last year, the National Tourism Administration said.
Three times as many people as last year went on luxury cruises, travel website Ctrip.com said.
In China, they keep threatening the factory workers that they will be replaced by robots if they do not work harder and for less, a funny Chinese guy posted this -
Made in China.
Same in every country, robots will replace humans when they are more efficient, just part of progress.
Now what happened to the horse and cart.
Same in every country, robots will replace humans when they are more efficient, just part of progress.
Now what happened to the horse and cart.
ROFLProfound
The point is that in the free world, when there really are robots that can do jobs that people do, then the people are retired in as civil way as possible. But in this instance there no robots and certainly not ones that can are replace the almost pay less jobs. It's just a way of threatening the workers to abuse and enslave them further.
I sometimes go riding with some guy who was a regional CEO of a major crop harvesting machinery manufacturer/distributor. One of his clients was in a 3rd world country and he was wondering why they never ordered any parts that would be normal wear and tear. This was despite the harvesting capacity being less than the fields on which crops were grown.
So over he went to meet the client he sold the equipment to a year ago. The two harvestor units sat in clear view of the workers in the fields. They were a threat that if any of them decided to cause trouble, it would be easy to replace much of the labour force for a time with machinery. These workers were subsistence level so they could not endure a lock-out. Just the threat was enough to create value for the farmer by buying these 'robots' which he never wanted to use. It kept the wages low and the workers compliant.
I can say in your lifetime this will not happen. Fixed plant automation and "controlled environment" mobile automation will see continued expansion. From wikipedia I chose these reasons that are obstacles.I still expect major drama when self driven vehicle will start: imagine: long haul truckies replaced by machines, it will not go smoothly
I can say in your lifetime this will not happen. Fixed plant automation and "controlled environment" mobile automation will see continued expansion. From wikipedia I chose these reasons that are obstacles.
- Liability placed on manufacturer of device and/or software driving the vehicle.
- Resistance by individuals to forfeit control of their cars.
- Implementation of legal framework and establishment of government regulations for self-driving cars.
- Loss of driving-related jobs. Resistance from professional drivers and unions who perceive job losses.
- Ethical problems in situations where an autonomous car's software is forced during an unavoidable crash to choose between multiple harmful courses of action.
- Current police and other pedestrian gestures and non-verbal cues are not adapted to autonomous driving.
- Software reliability.
- A car's computer could potentially be compromised, as could a communication system between cars by disrupting camera sensors, GPS jammers/spoofing.
- Susceptibility of the car's navigation system to different types of weather.
- Autonomous cars may require very high-quality specialised maps to operate properly. Where these maps may be out of date, they would need to be able to fall back to reasonable behaviors.
- Current road infrastructure may need changes for autonomous cars to function optimally.
Yes there are many issues facing the planet with the presence of us (humans) that could have technological solutions. The technological revolution is upon us so buy into weight watchers businesses as everyone gets fatter from less physical activity.Try curing cancer or renewable energy or bringing water and food to the world or something ya rich idiots.
Retail sales surprisingly weakens
Retail sales, which had been a beacon of strength in China's economy, were up 10.2 per cent over the year, well below both the forecast 10.8 per cent and the December growth rate of 11.1 per cent.
Credit expansion also missed the target, although the Lunar New Year probably affected this.
On a positive note, there was evidence of a transition in the type of loans being taken out, with promising expansion in longer-term credit.[/B]
Try curing cancer or renewable energy or bringing water and food to the world or something ya rich idiots.
Yes there are many issues facing the planet with the presence of us (humans) that could have technological solutions. The technological revolution is upon us so buy into weight watchers businesses as everyone gets fatter from less physical activity.
the most extreme step yet by policy makers to prevent speculative bets against the Chinese currency, after state-run banks repeatedly intervened to support the yuan and the government intensified a crackdown on capital outflows.
A Tobin tax would complicate plans by China to create an international reserve currency and could undermine the leadership's pledge to increase the role of market forces in the world's second-largest economy.
As for Anbang itself: It’s a relatively minor Chinese insurance company, which has recently also branched into financial services. Bruce Einhorn writes in Businessweek that, “in a market dominated by big, state-owned insurers, Anbang until recently was an extremely minor player. At the end of 2013, its share of life-insurance premiums was 0.1 per cent.” It has recently experienced a lot of growth, but still only has 3.6 per cent market share in China. According to its English language website, Anbang has assets of 700 billion yuan (about $US114 billion).
The question that remains unanswered is how Anbang is going to pay for its new property. There’s no word in reports on the deal about financing. Back in July, Andrew Collier, managing director at Orient Capital Research floated the idea that loans from the Chinese shadow banking sector — where a lot of the financing for foreign deals is coming from — could cripple the international property markets if they started going bad.
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