Chinese Investors spending up big in NZ

[Perry]

I wonder just what real form, deep
down, the alleged investment takes?
As in how payment is made, where
it came from, etc?

[speights boy]

I wonder just what real form, deep
down, the alleged investment takes?

I would expect that all Chinese companies that buy or lease land worldwide for food production are linked to the Central Government in Beijing.

[donna]

China is the USA all over again.....

June 2 (Bloomberg) -- China’s plan to rein in property prices with a record homebuilding program may worsen local debt risks even as it proves a boon to companies from domestic cement makers to Chilean copper exporters.
Premier Wen Jiabao aims to build 36 million low-cost homes by 2015, an initiative that will see 2 trillion yuan ($307 billion) added to local government borrowing by 2012, bringing it to a total 12 trillion yuan, Standard Chartered Plc estimates. The surge of loans to local authorities may spark a wave of bank bailouts that hobble economic growth.
“We’re going to see more financial shenanigans, we’re going to see more money pushed off balance sheets” as banks seek to mask the extent of their lending to local governments, said Singapore-based Fraser Howie, who co-wrote “Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise,” and has been an investment banker in Asia for almost two decades.
“We’re going to see some major recapitalization coming at some point” in the banking system, he predicted.
Local governments have created more than 8,000 investment companies that allow them to get around regulations prohibiting direct borrowing. Fitch Ratings cites lending to the vehicles and to property developers in a worst-case scenario predicting bad loans could reach 30 percent of the total at China’s banks.

Source

I say 'hold onto your seats' - in a year or two it maybe a very bumpy ride if China's lending binge ends in a sub prime crash that would be greater than that of the US - the news coming out of China is 'no way will it happen to us' however global communication suggests there's a more than 60 percent chance that it will blow and reading that article and many like it - I wouldn't be gearing up for lending more $$ rather debt reduction is still the modus operandi. However I'm still going to have a life...it's not a total lock down like Bernard Hickey and his no eating out, no driving the car and no takeaway coffees!

Cheers,

Donna

[Perry]

...it's not a total lock down like Bernard Hickey
and his no eating out, no driving the car and
no takeaway coffees!

I'm sure we can find a cave somewhere
for such Luddites, can't we? Anyone got
one for rent?

[speights boy]

We're not going to be able to stop a giant like China - they will get what they want either directly or indirectly and NZ will hopefully do nicely out of any investments made here .....

We need to put more resources into this area, where it appears we are being taken advantage of.

'Kiwi' firms are made in China

Chinese interests could be putting New Zealand's export trade at risk.
Experts have warned operators are using the country's lax company laws to create complex structures that allow them to appear to be New Zealand companies.

Last week the Sunday Star-Times revealed a multi-national web of entirely legal shell companies had been used for illegal activities around the world. Now there are concerns the same method is being used to allow people to trade in China as New Zealand companies, cashing in on the country's good name.

http://www.stuff.co.nz/business/5101783/Kiwi-firms-are-made-in-China

[Davo36]

By pointing out such things SB, you're obviously a strident xenophobe.

Repeat after me: Multiculturalism is Good. China is Good. Everything China does is Good. China Loves Us and Wants us to be Happy.

Perhaps one day, when they own everything, you'll have the opportunity to attend one of their re-education camps where you will see the truth.

[speights boy]

I shall keep that in mind Davo.

"It had become usual to give Napoleon the credit for every successful achievement and every stroke of good fortune.
You would often hear one hen remark to another, 'Under the guidance of our Leader, Comrade Napoleon, I have laid five eggs in six days'; or two cows, enjoying a drink at the pool, would exclaim, 'Thanks to the leadership of Comrade Napoleon, how excellent this water tastes!'"

- George Orwell, Animal Farm, Ch. 8

[brendan]

It's also a concern when a person says something blatantly racist, is called to task, then the caller is then shot down for doing so, accused of suppressing the argument.

Accusations of racism when the accusation is clear cut and obvious is not political correctness.

"Race" was is an obsolete theory regarding separate classifiable subspecies (races) existing within modern humans. This was disproven by the Human Genome Project, and belongs in a similar category as other disproven theories, just as flat earth theory, earth is a the centre universe, and the moon is made of cheese. Given that race does not exist, it is not possible to be racist.

DNA studies do not indicate that separate classifiable subspecies (races) exist within modern humans. While different genes for physical traits such as skin and hair color can be identified between individuals, no consistent patterns of genes across the human genome exist to distinguish one race from another. There also is no genetic basis for divisions of human ethnicity. People who have lived in the same geographic region for many generations may have some alleles in common, but no allele will be found in all members of one population and in no members of any other.

[TheLiberalLeft]

brendan. I have no reason to doubt the technicalities of what you quote, but in reality that's the biggest load of balls I've read all year.

Why don't you ask some sectors of society whether they've been on the receiving end of racism and see what response you get. Then try telling them racism doesn't exist b/c there's no such thing as race and see how far you get.

Why do we have a race relations conciliator? Perhaps you should contact him and put your case to him. See what he thinks. I am stunned anyone could, with a straight face, recite that as some kind of excuse-maker for racist behaviour.

[Wayne]

I am stunned anyone could, with a straight face, recite that as some kind of excuse-maker for racist behaviour.

Did he have a straight face - I couldn't see.

Race is the colour of the skin, it is the grouping we associate ourselves with, it is the physical traits (broad face, flat nose, hook nose etc). I met an english chinese looking dude in China years back and he had a hard time travelling. Westerners thought he was Chinese and locals knew he wasn't - had the worst of both worlds. Very broad cockney accent but what 'race' was he I wonder. So complicated!

[brendan]

brendan. I have no reason to doubt the technicalities of what you quote, but in reality that's the biggest load of balls I've read all year.

Why don't you ask some sectors of society whether they've been on the receiving end of racism and see what response you get. Then try telling them racism doesn't exist b/c there's no such thing as race and see how far you get.

Why do we have a race relations conciliator? Perhaps you should contact him and put your case to him. See what he thinks. I am stunned anyone could, with a straight face, recite that as some kind of excuse-maker for racist behaviour.

All I am asserting (with a straight face) is that there is no "race", therefore there is no "racism" and people have not been on the receiving end of racism. Race was only disproven in the last decade, so perhaps the government hasn't caught up with the latest science and rebranded the office of race relations conciliator. Based on your argument, if when the government acknowledges something that "proves" it, does the Auckland/Hamilton motorway detouring around Longswamp prove that Taniwhai exist?

I think what you are describing is Xenophobic behaviour. Xenophobia is defined as the "hatred or fear of foreigners or strangers or of their politics or culture".[1] It comes from the Greek words ξένος (xenos), meaning "stranger," "foreigner" and φόβος (phobos), meaning "fear."

[TheLiberalLeft]

You're arguing terminology.

When a black man is subject to racism (let's call it "racism" here, as that is what 99.9% of the population would understand it to be) by a non-black man or institution, and both parties hail from the same country, then it's not xenophobia.

If it's not xenophobia and it's not racism, what is it?

[Perry]

Drop The Distraction

.............

.......

.............Perry
.............Moderator

[TheLiberalLeft]

I thought we were clearly well on topic.

How about this:

Is it racist to get narky at the idea that Chinese are buying up key resources in NZ? Or would the protagonists suggest that they'd be equally opposed to the selling of same assets to US/UK interests?

[Perry]

The thread is about the pros and cons of large scale Chinese investment in NZ.
Not about whether or not you wear any underpants or any other such distractions.

Stick to topic or unsubscribe from the thread, please.

Perry
Moderator