Some fun

Just chaired a discussion at the Horasis China Meeting in Las Vegas. Very cool. The (frankly brilliant) discussion group included new-tech asset managers, as well as IB’s and PE’s from the older world, all with deep experience in Asia.

The discussions of China’s conflicts between AICPA type reporting and government control were highly informative and frank. In short: China is at a crossroads in the next decade or so; the government wants control of lending, and of “reported numbers”, and so forth, but…

when a country gets really big in GDP ($15T or so) it can’t keep fudging or frauding or ignoring numbers without ultimate huge backlash from lenders and big 4 accountants, and so will eventually be forced to do the right things. Tick-tock – we’ll see who wins this one, even though there is only one winner consistent with sustained growth.

Update: also an interesting discussion of cryptocurrencies and related topics, of which we knew little. The advocates were concerned with creating permanent value and skeptical of developments in a world of tech bubbles, sub-prime, negative interest rates, unrestrained M1 and M2 growth, etc. Hey, the Gold Standard and Silver Certificates are making a comeback.

2 Responses to “Some fun”

  1. feeblemind Says:

    Chinese Bank On Verge Of Collapse After Sudden Bank Run

    https://www.zerohedge.com/markets/chinese-bank-verge-collapse-after-sudden-bank-run

  2. feeblemind Says:

    Professors, Beware. A ‘Student Information Officer’ Might Be Watching.

    “Everyone feels they are in danger,” said You Shengdong, a longtime economics professor at Xiamen University in eastern China who was fired last year after students reported him for criticizing one of Mr. Xi’s favorite propaganda slogans.

    “How do we make progress,” Mr. You asked, “how can we produce inventions in this environment?”

    https://www.nytimes.com/2019/11/01/world/asia/china-student-informers.html?smid=nytcore-ios-share

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