China ChiCom News Thread

[Yinko]

Civil servants face big pay cuts as Beijing tries to boost China’s economy

Local governments across the country are cutting back on a range of perks and bonuses as part of a drive to reduce costs.

www.scmp.com

Highlights of the article: every Chinese province is in debt, only the province of Beijing is getting aid from the CCP, almost all are over 100% in debt, Tibet is the worst off at 177% in debt.

In response, civil servants in the entire country are getting a 25% pay cut, no year end bonus, and have to return any benefits they had previously been given (such as housing allowance).

 

[The Whispering Monk]

In response, civil servants in the entire country are getting a 25% pay cut, no year end bonus, and have to return any benefits they had previously been given (such as housing allowance).

Wow...I wonder how many govt employees are going to feel betrayed by Mao b/c of this.

 

[LordsFire]

Well, this will almost certainly lead to a massive jump in corruption as officials look to solicit bribes to make up for what they've lost.

 

[WolfBear]

Well, this will almost certainly lead to a massive jump in corruption as officials look to solicit bribes to make up for what they've lost.

But taking bribes could result in you getting executed if your corruption is discovered, no?

 

[Marduk]

But taking bribes could result in you getting executed if your corruption is discovered, no?

The trick is to share with the higher ups.

 

[The Whispering Monk]

The trick is to share with the higher ups.

Which works until they need a patsy.

 

[WolfBear]

Which works until they need a patsy.

To take the blame off of their own shoulders, I'm presuming?

 

[DarthOne]

To take the blame off of their own shoulders, I'm presuming?

And to keep their heads attached to them, yes.

 

[Cherico]

counting to potato

 

[WolfBear]

And to keep their heads attached to them, yes.

Yes, that's what I was hinting at in my post above.

‘No mercy’ in anti-corruption drive, Xi warns Communist Party

Anti-corruption success is key message in approach to this year’s national party congress.

www.scmp.com

 

[Urabrask Revealed]

counting to potato

Man, old Lord Pratchett would have a blast reading this, considering he was the one who used potatoes being used as currency-backer as a plotpoint.

 

[Yinko]

counting to potato

Apparently not a joke. Though, as they say in the video, this is only really happening in cities under quarantine.

Thanks to COVID, China's New Currency Is the Potato

Disease control measures are now starting to hit the Chinese economy hard.

www.newsweek.com

One thing no one really talks about is the economic impact all these quarantines is going to have on the Chinese economy. Imagine if Chicago had 100% of their people barricaded on their homes, unable to work. The national economy would have to quickly find alternative sources for those goods and services, and then when Chicago came out of lock-down, there would be little incentive for much of those partnerships to return. It would be a crippling blow.

 

[Arch Dornan]

Municipal government went bankrupt.

 

[bintananth]

Municipal government went bankrupt.

The housing costs are kinda intersting. They peak at about $58US/sq.ft. after unit and currency conversions. Where I live what's on sale averages about $125US/sq.ft. New construction? $200-500US/sq.ft.

 

[Cherico]

Municipal government went bankrupt.

I'm honestly surprised the chinese have been able to keep this going as long as they have, its like the most skilled game of jenga of all time.

 

[Arch Dornan]

I'm honestly surprised the chinese have been able to keep this going as long as they have, its like the most skilled game of jenga of all time.

The bubble bursts eventually.

 

[Urabrask Revealed]

Municipal government went bankrupt.

C'mon, fall. Fall!

 

[Yinko]

Municipal government went bankrupt.

Doesn't surprise me at all. Every province is in debt, every single one. Most of the provincial and city money comes from real-estate, so when the bubble pops it doesn't just bankrupt the citizens, but also the local governments.

What interests me is the law enforcement thing, hiring thousands of low paid "guards" all at once to help maintain order is going to end up resulting in a bunch of thugs sooner or later. They have no training, they aren't paid enough to care, and they're part of an authoritarian regime. What do you think is going to happen?

 

[The Whispering Monk]

What interests me is the law enforcement thing, hiring thousands of low paid "guards" all at once to help maintain order is going to end up resulting in a bunch of thugs sooner or later. They have no training, they aren't paid enough to care, and they're part of an authoritarian regime. What do you think is going to happen?

Sounds like the beginning steps to the recipe for a period of Warlords. Which is great...till they realize they don't HAVE to obey the Xi b/c they end up getting sizeable chunks of the actually military behind them...then it's CIVIL WAR time!

 

[Urabrask Revealed]

Sounds like the beginning steps to the recipe for a period of Warlords. Which is great...till they realize they don't HAVE to obey the Xi b/c they end up getting sizeable chunks of the actually military behind them...then it's CIVIL WAR time!

Hope it causes all the american and european fat cats to go belly up. I want these fucks to jump when they realize their decades of "investment" have been for nothing.