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Joined 2 years ago
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Cake day: January 29th, 2025

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  • I wouldn’t say they think that he is dumb, at least that’s not how I interpret this. I even think that the netizens’ comments aren’t directed at Mbappé personally. He is certainly a great personality (there are no indication why we would assume anything else) and is a apparently a good sportsman, but he is also quite young with no experience in dealing with such political matters. And we can also reasonably assume he hasn’t good advisors around him who could be helpful here. So even as I think that his apology was a mistake, I wouldn’t blame Mbappé for this mistake as, in case of doubt, has done this in good faith.

    What is unforgivable in my opinion are the apologies by his football club Real Madrid and the La Liga, the Spanish football league association. Instead of staying by a factual remark, they also apologized for Mbappé’s remarks.

    Both the club and the association would lose money if Chinese sponsor pull back, but they would also certainly survive that. The responsible managers there have not only shown that they have no spine, they play entirely into the Chinese Communist Party’s hands as Mao was not only a dictator but also paved the way for continued repression in China today.

    But that’s just my 2 cents to this.



















  • In China, the AI bubble has already burst

    … The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporising some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China’s efforts at encouraging its savers into stocks to fund the AI boom.

    … With AI stocks running to 42% of China’s market capitalisation and 57% of turnover across mainland-listed A-shares and Hong Kong’s H-shares, according to Goldman Sachs, few in a market dominated by small investors have escaped pain.

    … Shares in robot-maker Unitree, 8,000 times oversubscribed by retail buyers at listing, have halved since they started trading in August, and chipmaker CXMT has lost more than a quarter of its value in the past month.

    … Chipmakers MetaX Integrated Circuits and Moore Threads Technology, which leapt 700% and 400% respectively on their market debuts last year, have also halved in value since July.

    … Frustration that an investment theme backed by Beijing has ended so badly has driven many investors into defensive assets and is likely to slow equity fundraising by tech firms.

    A remarkable detail in China, citing the report:

    The frenzy and its fallout contrast with a push by authorities to improve returns and dampen volatility by cracking down on leverage and high-frequency trading. State-backed investors were sellers into rallies to keep gains in check.

    [Emphasis mine.]












  • Immigrants in the U.S. make up more than 15% of the total population. Even Russia has more than 5%.

    Edit:

    Maybe Hong Kong can be a hint for what happens in China regarding migration.

    Before 1997, when Hong Kong was transferred from UK to China rule, the city had a largely positive net migration. As a result, the city grew from 3.9 million people in the 1950s to almost 7 million in the mid-1990s.

    In this century, however, Hong Kong experienced a trend of negative net migration that has been increasing since the beginning of the 2020s, supposedly due the introduction of the National Security Law and the pandemic. The trend: Young people are increasingly leaving Hong Kong, while immigrant come largely from China’s mainland.



  • … due to its size, the impact that immigration can have to mitigate it is limited.

    The problem isn’t the size of the country but rather - as the article also says - China’s “increasingly ethnocentric path.”

    Foreign residents make up 0.1% of China’s total population, that’s the lowest rate in the world. In Germany and Italy, the two countries you mentioned, the rates are 21% and 11%, respectively.

    The total fertility rate (measured as number of births per woman) is 1.0 in China, among the lowest in the world. In Hong Kong, it is even 0.75. Experts say you need a rate of 2.1 to sustain the current population.

    Unlike may Western countries, China is a low-income country with rising inequality in the country (inequality levels have reached the levels of the U.S. in the meantime). This is have a grave impact on China’s ability to care for the pensioners.

    Even Chinese experts have long been called for state measures - such as increasing the retirement age, encouraging immigration, and other measures. But the government’s decision to raise its retirement age is widely considered as too little, and Xi Jinping’s policy, ranging from National Security Laws to a sharp increase in the number of exit bans for foreigners and from transnational repression to secret detentions of people without a trial, doesn’t exactly encourage people to migrate to China; it’s rather the opposite.