The Decision of the 3rd Plenum of the 18th Central Committee in terms of "reform" contained the objective, that state-owned enterprise was to again dominate all relevant areas of the economy. A purely ideological move. A reversal of previous reforms against all common sense, which shocked foreign investors in China. It stacked the odds against foreign invested enterprises in China even higher. It was in the aftermath of that decision, that my erstwhile employer pulled the plug on all China investment.
Many different people have many different perceptions about the impact of this devolution. The closer a company operates to the private Chinese consumer, the less it will have felt the impact. The massive impact is with raw materials and heavy industry.
The decision made China also economically ever more incompatible with those countries, whom China needs to trade with. When in 2016 the 15 year grace period after China's WTO accession expired and China completely ignored calls for living up to its WTO accession commitments, it became clear that something needed to be done.
If China wants to have anything remotely reminiscent of "free trade" with major trade blocs ever again, the above are core points to be addressed, as well as trade manipulation by fiscal means.
Interesting “dichotomy”, the crypto funds owned by the State.
I commend the opportunity in Hong Kong to participate in crypto, but it’s a combination hard to imagine getting much support in the West. That the funds are State owned, is not only a paradox of sorts, but also a probable tough sell - in the West.
Of course, China is “State Sponsored” by design, so not a surprise, and no doubt more acceptable locally.
I understand your making the point Hong Kong is a different System, but to Western eyes, or at least to these eyes, I’d suggest in the case of publicly traded financial assets, the difference is more semantic than written in stone.
In Hong Kong, is owning Crypto directly allowed? In other words, are you permitted a cold wallet holding Bitcoin?
Are mainland Chinese allowed "free rein" trading in Hong Kong?
FYI, Toronto was among the first exchanges to float a spot Bitcoin ETF. Ether too.
But will Li's outreach to Tesla in 2024 be as effective in reviving the company as it was in 2018? I am not familiar enough with the dynamics of the EV market to be able to answer that question.
The Decision of the 3rd Plenum of the 18th Central Committee in terms of "reform" contained the objective, that state-owned enterprise was to again dominate all relevant areas of the economy. A purely ideological move. A reversal of previous reforms against all common sense, which shocked foreign investors in China. It stacked the odds against foreign invested enterprises in China even higher. It was in the aftermath of that decision, that my erstwhile employer pulled the plug on all China investment.
Many different people have many different perceptions about the impact of this devolution. The closer a company operates to the private Chinese consumer, the less it will have felt the impact. The massive impact is with raw materials and heavy industry.
The decision made China also economically ever more incompatible with those countries, whom China needs to trade with. When in 2016 the 15 year grace period after China's WTO accession expired and China completely ignored calls for living up to its WTO accession commitments, it became clear that something needed to be done.
If China wants to have anything remotely reminiscent of "free trade" with major trade blocs ever again, the above are core points to be addressed, as well as trade manipulation by fiscal means.
Interesting “dichotomy”, the crypto funds owned by the State.
I commend the opportunity in Hong Kong to participate in crypto, but it’s a combination hard to imagine getting much support in the West. That the funds are State owned, is not only a paradox of sorts, but also a probable tough sell - in the West.
Of course, China is “State Sponsored” by design, so not a surprise, and no doubt more acceptable locally.
I understand your making the point Hong Kong is a different System, but to Western eyes, or at least to these eyes, I’d suggest in the case of publicly traded financial assets, the difference is more semantic than written in stone.
In Hong Kong, is owning Crypto directly allowed? In other words, are you permitted a cold wallet holding Bitcoin?
Are mainland Chinese allowed "free rein" trading in Hong Kong?
FYI, Toronto was among the first exchanges to float a spot Bitcoin ETF. Ether too.
Always interesting to read your perspectives.
Very informative. Important too. Thank you.
Yes, you can do anything with cryptos in HK. Mainlanders, if their assets are legally transferred from mainland, also have a “free rein”
But will Li's outreach to Tesla in 2024 be as effective in reviving the company as it was in 2018? I am not familiar enough with the dynamics of the EV market to be able to answer that question.