China destroyed its tech giants. Here's why.

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TechAltar

TechAltar

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The Chinese government cracked down on Jack Ma, Alibaba, Ant Financial, Tencent and pretty much every Chinese internet company you might have heard of, wiping out trillions of dollars in value. Here's why.
The Story Behind - ep. 91
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КОМЕНТАРІ: 2 900
@TechAltar
@TechAltar Рік тому
If you would like to dig even deeper into this topic, you can watch my bonus video on Nebula here: nebula.tv/videos/techaltar-the-ugly-impact-of-chinas-crackdowns
@tkdevlop
@tkdevlop Рік тому
if only you promote this out of your free will :(
@jungtarcph
@jungtarcph Рік тому
It is amazing How little we hear from China. I even lived there in 2007 and in 2011 and yet even though I also real American news and European news daily there is SOO little shared knowledge....
@Obscurai
@Obscurai Рік тому
So were there changes at the China Supreme Court as well since they were instrumental in allowing the hyper-competition?
@Locutus
@Locutus Рік тому
No paid promotion ticked?
@RealLifeTech187
@RealLifeTech187 Рік тому
I would like to subscribe to Nebula but you need a credit card for that which I don't have. Can you guys please work on a way to include other payment methods like SEPA or PayPal?
@chongjunxiang3002
@chongjunxiang3002 Рік тому
Missing one context: While Apple and Samsung e-wallet are useful as financial tool in US. In China, Ant Group used to behave like a bank while do not follow laws and practice that banks do. They provide loan, run saving account with interest while run the e-wallet business. This cause a brief microloan crisis because Ant don't scrutiny on loans, as those loan are just for petty purchases (example, around 100 bucks, for some fancy clothes) Meanwhile Ant and other online stores heavily promoted consumerism behavior, uncontrolled buying happen, ended up a lot of people failed to pay debt for their uncontrolled spending behavior. Crackdown on e-finance is expected since then.
@willengel2458
@willengel2458 Рік тому
Ant Group is front for Wall Street interest.
@WangGanChang
@WangGanChang Рік тому
Just before the crackdown, Ant run an ad about a low income dad taking loans from them so his daughter can throw a huge fancy birthday party and not feel bad in front of her friends. They think this is an example of "doing good" and "helping people". It draw almost universal criticism online and is one the prompt for government to take action.
@sparkzbarca
@sparkzbarca Рік тому
That's not why Ant was cracked down on. It's because Jack Ma spoke out negatively about Chinese banking and called it pawnshop mentality. Ant was approved to do an IPO. Jack gave a speech criticizing the governments regulation of banks and how China banked. A week later he was called in for questioning, the day after questioning the already approved IPO was nixed. Then Ma disappeared, his company was fined hugely and he stepped down. He was allowed to give loans to poor people. He wasn't allowed to suggest China was less modern or sophisticated in some way to other nations.
@willengel2458
@willengel2458 Рік тому
@@sparkzbarca keep drinking that KoolAid.
@sparkzbarca
@sparkzbarca Рік тому
@@willengel2458 what kool aid lol? Do you have anything factually wrong with my statement? No just want to cry.
@willmather4046
@willmather4046 Рік тому
The speed with which the CCP can force through change is both Chinas biggest blessing and biggest curse. On the one hand the State can rapidly regulate emerging industries and put the kibosh on potential monopolies and harmful industries. Most places in the West have sluggish legislative bodies which can take years or even decades to catch up, especially in tech. On the other hand the ever changing and seemingly fickle decision making of the CCP can give the economy whiplash. I'm certainly no conservative but even I can see the wisdom on not shaking the bottle too hard.
@feelshowdy
@feelshowdy Рік тому
While their system has its disadvantages, I still think it's valuable to have a government that has the political will to just Get Things Done. As their infrastructure projects have shown, if the CCP sees an unfulfilled need somewhere they'll do something about it, and front the funds if needed. They're also more prompt with responding to changing economic conditions and new industries, like you've said. They may make bad decisions now and again, but that's still better than a dysfunctionally stagnant legislature like the US and my country has.
@poetryflynn3712
@poetryflynn3712 Рік тому
Do not forget the west actually does have "pullchords" in place than can be thrown around quickly. Typically these are autonomous government organizations such as the CIA, Federal Reserve, etc. In fact, the Chinese government themselves even cautioned the Federal Reserve to not pull the trigger too quickly.
@holycow343
@holycow343 Рік тому
maybe you're just conditioned to think that they shook the bottle too hard, but in reality they shook it juusst right.
@gund89123
@gund89123 Рік тому
Democracy is intentionally designed to be less effective by not giving one person full power.
@JxcksonSF
@JxcksonSF Рік тому
@@holycow343 true, since here in the west, we are just used to companies doing whatever they want, and the government been a bureaucratic hole. And im talking as a south american.
@ackomanah6486
@ackomanah6486 Рік тому
I worked at an American Software company. The founder was a man who immigrated from Turkey. At 5-6 pm he would go and tell people: it is time to go to your home and family. His company did really well. He was very popular among the employees and well loved. That is how you run a company!
@parlor3115
@parlor3115 Рік тому
Cool story, you should email it to people
@evrenunal3644
@evrenunal3644 Рік тому
May I ask, which company was it?
@michaelngan99
@michaelngan99 Рік тому
"At 5-6 pm he would go and tell people: it is time to go to your home and family. " At 5-6PM, a Chinese Boss would tell their workers, if you don't stay working till 9PM, you are FIRED.
@ackomanah6486
@ackomanah6486 Рік тому
@@michaelngan99 China made it illegal. Good: Now Chinese get to live more normal than before. Much more required but is 1st step
@ackomanah6486
@ackomanah6486 Рік тому
@@evrenunal3644 It was "Kenan Billing". The founder was Professor Kenan Sahin. A Professor at MIT: en.wikipedia.org/wiki/Kenan_Sahin
@ashwinbhat95
@ashwinbhat95 Рік тому
I like the bit about moving from 'high-speed growth' to 'high-quality growth'. Every nation needs to shift from a never-ending growth mindset to one that focuses on growth in the right places i.e. for human prosperity. Focus on improving critical factors like healthcare, education, and well-being of people. Arbitrary metrics like GDP do not correspond to the economic growth of everyone, but rather the rich. Growth for the sake of growth is the biggest scam that the Planet faces.
@sinOsiris
@sinOsiris Рік тому
nice
@paulmichaelfreedman8334
@paulmichaelfreedman8334 Рік тому
Nah, the biggest scam on the planet is real estate.
@wyz9815
@wyz9815 Рік тому
So right! Growth model will not last
@raygutoski5079
@raygutoski5079 Рік тому
I very much like your comment. The belief that "progress" is defined by GNP to me is false. It negates the fact that the goal of any society should be the happiness or all people in the society especially those that are suffering the most at the bottom of the society. This is the real measure of the greatness of a country or society. GHL (Gross happiness level) is a much better measure of a society's greatness and in America our GHL has been declining for decades well before coronavirus and is continuing to decline..
@s._3560
@s._3560 Рік тому
The tech companies targeted became less focused on improving the lives of people, but rather increasingly amassing wealth at all costs in ruthless and illegal ways. They ought to crack down on and curtail those illegal practices.
@III-zy5jf
@III-zy5jf Рік тому
I work 1 1/2 jobs in the US. I would like a crackdown here, too, where managers don't make millions while their employees are worked to death.
@GreenBlueWalkthrough
@GreenBlueWalkthrough Рік тому
Why do you live a life style where you need to do that?
@Dan-co4zl
@Dan-co4zl Рік тому
Still happens in china anyways... So don't pretend this improves worker rights in china lol ukposts.info/have/v-deo/pGioi6WIapV3kWQ.html&
@strandkorbst9643
@strandkorbst9643 Рік тому
@@GreenBlueWalkthrough what kind of question is that, in poorer countries like the US not everyone can feed their families without working themselves to death
@shukracharya_
@shukracharya_ Рік тому
true entire world is so stressed everyone is tired
@dsnodgrass4843
@dsnodgrass4843 Рік тому
@@GreenBlueWalkthrough Systemic issues are not personal choice. Trying to conflate the two is dishonest.
@Link4750
@Link4750 Рік тому
As someone who worked in the "After-School Education" industry in China while the policies were pushed to crush it, I was lucky enough to be in a company that found a loophole in the system. A huge market in after-school education is English (both as ESL or EFL), and my company found that they did not break any rules if we just changed the subject of the lessons from English to just about any other subject (but taught in English). I have since swapped out from after-school education to a more traditional structure in a private school (still in China). But even private schools get occasional inspections to ensure they are following some criteria I am currently not fully aware of.
@TheSatyamsingham
@TheSatyamsingham 7 місяців тому
Thank you for this information.
@DarkwarriorJ
@DarkwarriorJ 7 місяців тому
Now this is a classic loophole backfire of a top-down policy! Beautiful in its elegance
@ARCANEmateCLAN
@ARCANEmateCLAN 2 місяці тому
My wife worked for one in China. They just moved their "headquarters" out of China and offer the exact same tuition services. The office still operates in China and the company makes a healthy profit.
@ganweidi1382
@ganweidi1382 Рік тому
I've heard some Chinese calling this as "trimming the garden", its painful but hopefully the garden will flourish better and not turn into a jungle
@roarlisfang2860
@roarlisfang2860 Рік тому
As a Chinese engineer in a tech company, I agree with your opinions that the internet industry soaked up too much resource. The most paid jobs before 2020 in China were usually tech-related, like programmers and App UI designer. This means thousands of talented people would abandon their dreams for such a job. It even creates a new word called 转码 (Zhuan Ma), which means "turning into a coder". The crackdown did work as our companies laid off most of the programmers that didn't come from Computer Science background, but this also punched the economy in the guts. The Hangzhou local government even reportedly told Alibaba to control the scale of layoffs for economic safety.
@user-wf4vv2dm7y
@user-wf4vv2dm7y Рік тому
@@onealmorgen2987 👍
@HuntingTarg
@HuntingTarg Рік тому
@@onealmorgen2987 'Physical exhibition' has a troublesome context in English and some European languages.
@HuntingTarg
@HuntingTarg Рік тому
Interesting to read your perspective. Thank you for commenting. As an American entrepreneur, I guess that youth in China are seeking a path to happiness, and wherever they look they are boldly told 'NO.' So they settle for chasing personal security and prosperity regardless of what they truly desire. The culture being created by drastic policy change & enforcement is what's creating this 'laying flat' culture, which exists even in America to some degree. Look up the latin phrase _libido dominande_ , it's from the writings of St. Augustine .
@roarlisfang2860
@roarlisfang2860 Рік тому
@@HuntingTarg Totally agree. Since China's policies and international environment are unstable, most young people don't feel secure enough to pursue their dreams. China does not have bankruptcy for individuals, which means you will be forever in debt if you are unfortunately caught in a financial crisis with mortgages. It also doesn't help that most parents suffer from such instability, as they lost their jobs when China turned away from a planned economy. With so much pressure from different sources(parents, society, international trading conflicts, etc.), 'lying flat' / moving with the tide is the only safe option.
@joemammon6149
@joemammon6149 Рік тому
if Guan Yu is the god of war, who is the god of coding?
@jeforiley8236
@jeforiley8236 Рік тому
It’s really refreshing to see a balanced and factual report on China for once! Good job!
@88billion
@88billion Рік тому
You watched those anti china youtubers everything china is bad😀
@FosFate
@FosFate Рік тому
@@88billion Just unfortunate that 80% of critical content related to China is either complete hatred for China or CCP propoganda...
@jokh9992
@jokh9992 Рік тому
Hogan000, you watched those anti america youtubers everything America is bad.😂
@salsa564
@salsa564 Рік тому
@@jokh9992 they’re not wrong lol
@g-rexsaurus794
@g-rexsaurus794 8 місяців тому
@@88billion This video literally paints China as a corrupt hellhole
@stephendaley266
@stephendaley266 7 місяців тому
US corporations: "We own the US!" US government: "Of course, sir! Can I get you another tax cut?" Chinese corporations: "We own China!" Chinese government: "Oh really? We'll just see about that!"
@leebaronbespokecustomtailo3734
@leebaronbespokecustomtailo3734 Рік тому
This is a great insight into the reasons behind these actions. Although they may seem extreme, it seems that the Chinese government wants to fix many problems that have gone too far, before they get to the point where they cannot be fixed... It is, perhaps, not a bad thing to slow things down so that the direction the country is taking can be steered towards ensuring that wealth and growth are more evenly spread throughout society. Very few governments actually take a keen interest in ensuring that everyone is getting the benefits of growth and prosperity and not just large corporations and wealthy tycoons. Thank you for giving us this viewpoint and understanding.
@stefanwong-
@stefanwong- Рік тому
However,the shift is just so rapid that people are now suffering great pressure in the labor market. A lot of fresh graduates are not getting a job after they graduate from universities. It gets even worse when government is enforcing pandemic lockdown, deteriorating the financial conditions of the citizens.
@theilliad4298
@theilliad4298 Рік тому
You don’t understand a communist totalitarian government.
@sephypantsu
@sephypantsu Рік тому
@@stefanwong- I think it'll be short termed. They are experimenting with relaxed pandemic restrictions already so I think by next year things will get better. Canada kind of went through a similar thing earlier this year, before the people got fed up and they had to pivot
@stefanwong-
@stefanwong- Рік тому
@@sephypantsu You are sooooo wrong! They are not losing the restrictions, instead, they are imposing more stringent ones. Take a look at what happens in China this week! More and more protests and riots are happening all over the nation. Yesterday, over 10 people are killed from a fire because the doors of their homes are locked up with chains by the local government for so-called pandemic prevention measures. A few days ago, the biggest iPhone manufacture plant also burst into riots because of pandemic prevention. People are all crying for justice.
@sephypantsu
@sephypantsu Рік тому
@@stefanwong- hasn't that been happening for months since the Shanghai lockdown?
@MagDrag123
@MagDrag123 Рік тому
A neutral coverage of China on UKposts? What a gem.
@la7dfa
@la7dfa Рік тому
The Chinese population on UKposts? Wont happen....
@kato2395
@kato2395 Рік тому
@Zack Smith yes agreed taiwan number 1
@kato2395
@kato2395 Рік тому
​@Zack Smith Yes beijing part of taiwan
@kato2395
@kato2395 Рік тому
@Zack Smith "in the past" noted and agreed
@kato2395
@kato2395 Рік тому
@Zack Smith and so again in the past not in the present and future, agreed.
@davadh
@davadh Рік тому
China didn't want their tech companies to have the power that companies like Facebook have, which is a platform that can heavily influence people, good or bad (such as the previous 2 elections). It's the reason why the supreme court has been grinding on all big tech companies recently, the only problem being that these companies had already become way too powerful for the US government to change dramatically, plus the US isn't like China where you can just take someone to the back room and teach them a lesson so these companies with the right lawyer can get away with a lot of things. Companies in China would likely face military force if they're too cunning, just look at Jack Ma.
@misterhill5598
@misterhill5598 Рік тому
Commerce ranked 4th on the scale of importance in China. Big businesses are forbidden to influence government official in anyway. They don't have any power over the government.
@anonymoususer3561
@anonymoususer3561 Рік тому
LOL if you don't understand what the last elections were for
@carkawalakhatulistiwa
@carkawalakhatulistiwa Рік тому
@@misterhill5598 People often forget that China is a communist country where power should be in the hands of the workers and have a dream where people only have to work 32 hours a week and still hear the minimum effort. CCP has tolerated the bourgeoisie for 40 years And what they are doing now is insulting the CCP
@misterhill5598
@misterhill5598 Рік тому
@@carkawalakhatulistiwa 1. People don't forget China is a socialist/communist country. They forget China is not defined by socialism or communism. It just happens to be the most suitable model for China rejuvenation. China did try other models such as democracy and capitalism, both were the wrong fit. 2. It's not CCP, it's CPC.
@Endoplexer
@Endoplexer Рік тому
@@misterhill5598 it’s CCP
@vrealzhou
@vrealzhou Рік тому
China to crack down the after school education industry is not just for reducing student pressure. It’s to reduce the unfairness of overall education. Rich people can spend more so the teachers get more pay to serve the riches in the after school education and they won’t teach everything in the normal classes but ask students to pay more and learn in the after school classes. In the long run some talented students from normal families won’t get chances compared to the average students from rich families. And the younger generation will be layered by wealth.
@uwanttono4012
@uwanttono4012 Рік тому
@Ye ZHou Very well said and that is why I support the CPC move on cracking down on these education companies and private tutors!
@leosunaquamoon
@leosunaquamoon Рік тому
China also need to pay their teachers better so that teachers won't have to resort to after-school hours 'tutoring'.
@mikebikekite1
@mikebikekite1 Рік тому
What China was doing was portrayed very poorly in most outlets. This is the first time I've heard the reasons behind what they were doing and, in all honesty, I now agree entirely with with what they were doing.
@amossutandi
@amossutandi Рік тому
I think corporations in America fear what governments can do to them, like China is doing when corporations are taking advantage and abuse the public. They purposefully use their establishment media to twist the facts to fit their narrative and demonize China, so the people of the US won't get ideas to resist big corporations and demand corporations to respect and serve customers/consumers instead of vice versa. Now consumers are too busy to demand corporations to cancel and ban other consumers...
@Rex-ww4cw
@Rex-ww4cw Рік тому
That's because they're doing it on purpose. Everytimes when there's a good news happening in China, they either not report it or twist the story.
@badbadbadcat
@badbadbadcat 8 місяців тому
The USA has decided it to be portrayed so and that's all we'll hear from now on. Even the existence of China has started to be portrayed negatively
@user-yc8yu8qv3q
@user-yc8yu8qv3q 7 місяців тому
it's western propaganda in every possible way...from china's debt trap to uyhur genocide..to chinese government taking down rich people like Jack Ma... western brainwashing is beyond limit.. in china we normally have a objective view of what's going on in china and the world.. most westerners know china through colored lens...i can gurantee your news about china is 99% of the time false.
@bohanxu6125
@bohanxu6125 7 місяців тому
I don't know if I like being a contrarian or what... while what CCP doing is not as bad as most western media shows. It is also has a lot of problems. For complex issues like this, I think we should always have an question mark/uncertainty in the back of our head, instead of simply remember whether those polices are good or bad. (for instance, not just "good" or "bad"... but "good (or bad) with huge uncertainty" ). China between 70s and 2000s learned that huge government invention in the economy is often worse than small invention or no intervention, because the economy is too complicated to be micromanaged. When a policy crash 60-100% of an industry (like after school education industry) over night, it is typically not a good policy. Also even if the authoritarian tendency of controlling everything and crushing everything against the party, happen to give good result in this specific case, it is still very inconsistent in providing well being to its citizens. Such authoritarian tendency can easily become harmful to its citizens.
@capybaraRed
@capybaraRed Рік тому
In many way, tech companies (and other large corporations) rule the US state directly. It's not the same in China, where having capital =/= having political power. It's an entirely different political system, and they follow a long term plan. We can't forget that actions and tactics reflect an overall strategy. Knowing the political strategy (read a 5 year plan, for example) helps understand why all of that happens.
@basillah7650
@basillah7650 Рік тому
Actually they normally let them do what they want in China until they talk against the govt then they get crushed.
@emartinez1320
@emartinez1320 Рік тому
i mostly agree except having capital is what gives corporations power. Here in the US corporations spend billions in lobbying to control the government.
@nuarius
@nuarius Рік тому
Politics is pay to play.... this absolutely is still true in the CCP
@seanonraet8327
@seanonraet8327 Рік тому
@@emartinez1320 how do you think they lobby?
@d.b.2215
@d.b.2215 Рік тому
Don't give a political party with no competition like the CCP too much credit for their wisdom. Much like the Soviet Union, behind the mighty and mysterious façade is a lot of dysfunction, corruption and incompetence behind the scene. When their economic model doesn't work anymore, suddenly the cracks expand at a crazy speed bringing the whole vertical structure down. And everyone will be like "well shit that was unexpected"
@kylewollman2239
@kylewollman2239 Рік тому
Disorderly expansion of capital basically describes the entire US economy. I think focusing on core technologies and becoming the world leader in those is a brilliant move. How many apps do you need to get a date or deliver food?
@ExecutiveChefLance
@ExecutiveChefLance Рік тому
You can't force water into a space that doesn't exist. Just like a bacterial colony Innovative Centers like Silicon Valley literally Poison future innovation through their own Shit and Waste. You don't force Innovation in Core Technologies. You create giant Educational Systems like the UC System in California. And perhaps extra federal funding for sciences we want to strive.
@Ottmar555
@Ottmar555 Рік тому
That's what following Marx does to a government. "The anarchy of production".
@chengdongli8434
@chengdongli8434 Рік тому
i can't agree more with you
@HuntingTarg
@HuntingTarg Рік тому
'3 replies', UKposts? Why do I only see 2? "?#censorship Anyways... The US economy is asymmetrically regulated, often based on politics and PR. There is rapid expansion in crazy things like dating apps and food delivery, because regulations on other more risk- or capital-intensive sectors (that would expand or develop quickly with less or better rules) scares away the opportunistic capital looking only at ROI on a quarterly, or often at best an annual, basis, and not long-term growth. "I'm the most successful investor because I spread my calipers wider than anyone else." -Warren Buffett
@Rex-ww4cw
@Rex-ww4cw Рік тому
@@serikazero128 pretty sure they remove comment that has link on it as well
@bkcalvine
@bkcalvine Рік тому
Thanks for saying all the names of the companies and cities properly. Great job.
@itsm3th3b33
@itsm3th3b33 Рік тому
Not just 7 pillars were targeted for crack down. There were many others. For example, housing development where most developers, previously considered "too big to fail" were wiped out practically overnight.
@Dutch-Maker
@Dutch-Maker Рік тому
8:35 In the Mainland China stock market, an upmarket is represented by the color red, whereas a downmarket is represented by the color green.
@Good_Praxis
@Good_Praxis Рік тому
Isn't "lying flat" basically the same thing as our "quiet quitting"? I think the working class is just waking up to see their exploitation essentially globally
@paulskiye6930
@paulskiye6930 Рік тому
Actually similar but different in its core. Lying flat doesn't mean you quit your job. But you are not trying to do extra things to being promoted.
@njmeteor
@njmeteor Рік тому
@@paulskiye6930 that's literally quiet quitting lol
@Clbull118
@Clbull118 Рік тому
You know, watching this makes me far more supportive of the country's crackdown. Jack Ma's disappearance was framed solely as him disagreeing with the Chinese government's economic policies. Nobody talked about the crappy monopolistic practices that the Supreme Court let tech giants get away with.
@wrly1989
@wrly1989 Рік тому
framed? He deserves it, if you know what his plan was.
@Rex-ww4cw
@Rex-ww4cw Рік тому
You have no idea how much the western media love to twist the story in China. the Chinese goverment actually is not as bad as they portrait
@JulkerReviews
@JulkerReviews 7 місяців тому
Your social credit score has improved.
@nonamepasserbya6658
@nonamepasserbya6658 7 місяців тому
@@JulkerReviews Salty that EU finally crack down on your monopoly Tim Apple?
@user-wn7fp3bw9b
@user-wn7fp3bw9b 7 місяців тому
no need to talk for capitalists
@hoshi314
@hoshi314 Рік тому
The video games part about delays for 1+ year and mandated government SDK on games are spot on, that is why Tencent is now rapidly invensting and now want to buy developers outside of china to offset the mess their chinese main part is feeling. Mihoyo (maker of Genshin Impact) basically make a singaporean branch called cognosphere to get away from pressure from china to a certain degree.
@xky8124
@xky8124 Рік тому
hoyoverse is a shell for them to expand oversea. i dont think the crackdown is the reason
@xky8124
@xky8124 Рік тому
shanghai gov is actually highly supportive of mihoyo as it is actually one of the very few tech company originate from shanghai
@hoshi314
@hoshi314 Рік тому
@@xky8124 i hope so, but foreign games going into china? Kiss that idea bye bye for now according to an indir publisher, even the local games are playing the waiting list
@xky8124
@xky8124 Рік тому
@@hoshi314 depends on the type of game, if single person, go on stream It's a grey area as all stream games are available but not licensed On the other hand, non platform games, especially multi person with micro transactions are not so lucky rn. Riot have try hard with tencent to publish virolant in China but still no. It would be a huge loss to riot if they can't get Chinese market, especially eSports market with virolant when lol run out of steam, riot will lose more than half of their current value
@youtubedeletedmyaccountlma2263
@youtubedeletedmyaccountlma2263 Рік тому
They know the crackdown is coming, they also open branches in Montreal and I got sought by their HR lol Sorry as a Chinese I hate both of their games.
@elhugo13
@elhugo13 Рік тому
I love how you did the intro. I thought the video already started.
@Will_Zhao
@Will_Zhao 8 місяців тому
Very well-informed and unbiased analysis. Good stuff!
@apexghostx878
@apexghostx878 Рік тому
Great video, thanks for sharing your thoughts on the topic.
@gelinrefira
@gelinrefira Рік тому
A surprisingly nuanced and non slandering take on an issue about China. You have earned a sub.
@lessemo
@lessemo Рік тому
Honestly that could be good for the chinese people, I hope their lives continue to improve
@daniel_960_
@daniel_960_ Рік тому
ukposts.info I was mindblown watching these videos from China. I had no clue.
@basillah7650
@basillah7650 Рік тому
Kind of hard when they been under lockdown for 3 years they controlling the sheep.
@trevortrevose9124
@trevortrevose9124 Рік тому
@@daniel_960_ though i was gonna be rickrolled 😂
@daniel_960_
@daniel_960_ Рік тому
@Trevor Trevose you can clearly read the link lol
@Nintenboy01
@Nintenboy01 Рік тому
unless you're an Uyghur
@ebubechiibegbula5968
@ebubechiibegbula5968 Рік тому
Honestly say what you want to say about the CCP , I respect them for this decision....
@caspianjuniper
@caspianjuniper Рік тому
The CPC is doing pretty good with their policies. I’m hoping to go to China soon.
@Doughsz
@Doughsz Рік тому
@阿孚 Taiwan 🇹🇼 is a free, democratic, rich and independent country and has been around for over 100 years and has never been under the control of the CCP. Not even once.
@Doughsz
@Doughsz Рік тому
@阿孚 Taiwan has not been under the control of mainland China for over 75 years and they use a different writing system than the mainland
@Doughsz
@Doughsz Рік тому
@阿孚 oh yeah sorry you’re right, Taiwan owns China, I forget, there is only one China, and that is Taiwan 🇹🇼, your “China” is a fake government lis made up by CCP when in fact it’s just an occupied region of Taiwan 🇹🇼.
@mirage_panzer2274
@mirage_panzer2274 Рік тому
@@Doughsz Taiwan is just another China. Back then you guys called yourself nationalist china while the other is communist china.
@JohnBinay
@JohnBinay Рік тому
Wow! This is really high quality content and production! Thank you for sharing
@amoggoma430
@amoggoma430 8 місяців тому
I remember uninstalling the 360 app from my friend's laptop. it's a nightmare, the app itself isn't really an antivirus, it does nothing than popup ads. the uninstall dialog only in mandarin and every button almost lead to cancel the uninstallation process (dark pattern)
@borissergijevic7357
@borissergijevic7357 Рік тому
China's growth dropped by a few % in the last few years, but this drop came along with massive reforms. It's not like things broke apart due to chaos. They intentionally and brutally efficiently imposed advanced laws that will defiantly be super hard to fulfill, but long-term successful achievements that will pay off.
@TheRealIronMan
@TheRealIronMan Рік тому
Literally the 1st long term thinker I have seen on UKposts for a long while lol Shame its from a commenter instead of ppl actually making popular videos, the west is so lack in long term strategic thinkers nowadays, once the last remnant of generational strategists like Kissinger die there will be nothing but bandwagon wishful thinking echo chambers in western media landscape.
@borissergijevic7357
@borissergijevic7357 Рік тому
@@TheRealIronMan Tnx, really appreciate your feedback!
@strigoiu13
@strigoiu13 Рік тому
only a serb or hungarian could have written such a false stament and twist the facts to fit the imposed narrative :) "successful achievements"? :))) thanx for the good laugh!
@borissergijevic7357
@borissergijevic7357 Рік тому
@@strigoiu13 China has risen to the greatest superpower of all time, in only several decades, faster and bigger than all superpowers in history combined. Something to admire as a hysterical phenomenon and achievement of humanity.
@foolishknight1666
@foolishknight1666 Рік тому
@@strigoiu13 bros from the Balkans 💀 💀
@nabilfreeman
@nabilfreeman Рік тому
Wow dude. This was 10/10. Detailed research and legit political analysis. I didn’t remembered your channel was this good! Going to keep an eye on future vids.
@slypear
@slypear Рік тому
This channel has always been this good, that said - this installment is next level awesome, for sure.
@JiajuChen
@JiajuChen Рік тому
This may look like 10/10 for non-Chinese, but this video just scratched the surface, lacking a few key elements causing all of this. For a UKposts video this size, it makes a 6/10 summary to me. You can trust this video to gain some basic idea of the whole picture, but he does not understand the bigger picture and all the strange behavior the government does, as his title claims to be.
@jared413
@jared413 Рік тому
These great content aside, why does it feel so comfortable watching your videos! Enjoying it alot man!
@liamporter1137
@liamporter1137 Рік тому
Very well done reporting. Detail and most importantly, fair reporting surfacing the facts rather than sensationalization to get eyeball. Great work 👏👏👏👍.
@desireco
@desireco Рік тому
I am subscribed to Nebula for a long time but kind of... as much as I love it's idea, I never go there to watch things, it is hard to discover new and interesting things and figure out what is available.
@willv88
@willv88 Рік тому
Just look at it as a way for these great channels to continue providing free content. Just an ad...
@LZentertainments
@LZentertainments Рік тому
Fantastic video. I did my own (written) piece on all this in the beginning of it. Incredible to see a summary + some kind of ending to it.
@lorenam8028
@lorenam8028 Рік тому
I personally agree with every single one of the measures the CCP took to limit the power and capacity for abuse of those tec giants. There's other policies that have been implemented recently in China that I'm a bit more worried about, but the ones you just talked about? I wish the entire world would do the same.
@netwesker8955
@netwesker8955 8 місяців тому
there were good points mentioned, but others, like limit playing hours and bringing in facial recognition for underaged users?
@D4V33.
@D4V33. 8 місяців тому
@@netwesker8955realistically this isn’t anything new since the government/ companies probably already does this with social media apps etc
@GIN.356.A
@GIN.356.A 8 місяців тому
​@@netwesker8955the problem westerners have while looking at China is the implicit but often overlooked assumption that chinese society and social relationships are the same as in the west. Domestic policies of the Chinese government is authoritarian if you think of them like a western bureaucracy. But traditionally Chinese government since the imperial days, have always been more like paternalistic strict parents. It makes more sense if you think of them in that lense.
@badbadbadcat
@badbadbadcat 8 місяців тому
Communist Party of China, CPC
@catsNcode
@catsNcode 7 місяців тому
@@GIN.356.Anailed it
@lorenson
@lorenson Рік тому
Enjoying every episode! Thank you!
@Rationalific
@Rationalific Рік тому
I'm not the biggest fan of China...and I love video games...but 90% of what China did to the tech space recently is a very positive development, in my opinion.
@antoniolewis1016
@antoniolewis1016 Рік тому
Yes, I'm supportive of the policies but not of the origin. I can start to see why Chinese people support their government if their government can oppose this corruption.
@chuzzbot
@chuzzbot Рік тому
Apart from the facial recognition stuff of course, that's creepy beyond words.
@krunkle5136
@krunkle5136 Рік тому
@@chuzzbot yeah, it's like admitting to the people that they don't trust them, which I understand they want to crack down on corruption.
@didyoumissedmegobareatersk2204
@didyoumissedmegobareatersk2204 Рік тому
@@chuzzbot Your phone and some apps won't do it lmao
@curtisalex456
@curtisalex456 Рік тому
@@krunkle5136 CCP cracking down on corruption is like the pot calling the kettle black. Corruption is the name of the game in China.
@Randomdive
@Randomdive Рік тому
I used to teach part-time at VIPkid and a lot of teachers I know lost access to their students and sources of income overnight. The parents ended up setting up Facebook groups to try and find their children's teachers for private tutoring, but because the kids usually have pseudonyms it was really difficult . That said, the strain on Chinese children is intense so I'm not totally against scaling it back, I just don't know if it was the best way to do it. I think unilaterally ruining their domestic edtech companies the way they did was insane, their technology was advanced and could have ended up being exported.
@julioduan7130
@julioduan7130 Рік тому
Because these edtech companies created a lot of unnecessary education demands to suck money, which increased the living costs of every family in China. All the subjects were and are taught in the schools, not in the institution. Chinese government doesn’t want this kind of profit-driven companies to keep their businesses in China. Only non-profit institutions are allowed to teach subjects which are taught in schools.
@bobjones2959
@bobjones2959 Рік тому
I think it's more a symptom of the people running things. Smarter leadership is necessary but from what I see and hear about what's going on in the country, the current lot aren't very smart.
@Alex-ig2xr
@Alex-ig2xr Рік тому
Totally agree. My friend in Shanghai lost her English center due to the sudden change.
@shriramvenu
@shriramvenu Рік тому
i think it was also about the CCP asserting absolute control over childrens education (brainwashing). Xi Jinping is closing off china and doesnt want chinese people exposed to alternative ideas and the wider world
@user-DongJ
@user-DongJ Рік тому
Totally. This looks like a very risky gamble like the Covid lockdown, 1-Child policy, Cultural Revolution, Great Leap Forward, Thousand cuts torture/executions, Wholesale Family executions, Book burning, Burying scholars, Mass genocide, etc. to change/control the society. Luckily/Unluckily for those who took the effort to understand war, power & nature from works like Sun Wu's Art of War, Karl Marx's Modes of Production & Richard Feynman's Meaning of Everything, s/he will realise there exist many who are seeking profits from these conflicts. This may explain why many elites/experts from states like US, China, EU, India, UK, Russia, AU, Brazil, etc. groups like IMF, WHO, UNP, RSF, ICC, WFP, TSB, POG, etc. & firms like Apple, Tencent, Samsung, Nestle, L'Oreal, Prosus, Tata, Linde, Sony, Gazprom, Siemens, etc. are already making their moves in the shadow space-time.
@vladimircurkoski1455
@vladimircurkoski1455 Рік тому
Jack Ma learned quickly that he's not the one who runs things in China
@havenht
@havenht Рік тому
He forgot that he is just a fancy pleasant.
@NostalgicMem0ries
@NostalgicMem0ries Рік тому
and thats good, goverment and people of country should be the ones who run it. look at usa where zukenberg, bezos, musk have more power and influence in country than most governement parts.
@stpedro-ht9ng
@stpedro-ht9ng 2 місяці тому
@@NostalgicMem0ries The average American trusts Bezos more than any politician
@NostalgicMem0ries
@NostalgicMem0ries 2 місяці тому
@@stpedro-ht9ng probably truth
@dznuts123
@dznuts123 Рік тому
A pretty fair, comprehensive analysis for the tech crackdowns.
@murrrr8288
@murrrr8288 Рік тому
Based on information on this video alone, the changes seem to take China to better direction.
@laqueenawilliams4762
@laqueenawilliams4762 Рік тому
You know nothing! No one want to follow those kind of people
@ni9274
@ni9274 Рік тому
Where are the results ?
@Peichen01
@Peichen01 Рік тому
As economy and society developed, it’s necessary for laws to keep up and continue to improve and safeguard the lives of citizens.
@ni9274
@ni9274 Рік тому
Yes like stopping your citizens from accessing any information that isn’t approved by the state ?
@Peichen01
@Peichen01 Рік тому
@@ni9274 Yes. What’s the value of cult publications or foreign propaganda?
@wiritpollapcharoenporn3168
@wiritpollapcharoenporn3168 7 місяців тому
@@Peichen01Wisdom and competition. Natural psychology. The forbidden are always attractive and too much effort money and friction will be used to plug the dam. Eventually, you will be stuck in the island of yes-men and seeing enemy everywhere. Worst because every ideology have flaws, your citizen will be oversaturized with yours. Sooner or later, they either rebel or basically gave up. Outside perspective provide competition allowing you to drag your opponent to your level your method.
@Peichen01
@Peichen01 7 місяців тому
@@wiritpollapcharoenporn3168 So which country is on a witch hunt for CCP spy and sees every Chinese and Chinese company as tentacle of CCP?
@gumbytron
@gumbytron Рік тому
Good. Hopefully this news reaches all corners of the US especially during this time of distrust towards corporations and big tech
@luisostasuc8135
@luisostasuc8135 Рік тому
Interesting priorities, and pretty good intentions behind them. I'll be happy if they do some good, maybe shake things up here in the us through spillover
@LegionIscariot
@LegionIscariot Рік тому
EU, China, and US together could really do something about these giant corporations. Break them apart. Push them to be more pro- consumer less pro-greed.
@protocetid
@protocetid Рік тому
US regulators protecting their constituents as much as the EU alone would be huge because those are the world’s biggest markets. I envy Europe’s governments.
@NonchalantWalrusParty
@NonchalantWalrusParty Рік тому
No chance of this as giant corporations ARE the US government.
@teofilol2666
@teofilol2666 Рік тому
The chances of US carrying out any effective steps are slim. The big Corps there are really big.
@ademali8199
@ademali8199 Рік тому
Who owns the politician they basically have them in there front pockets
@Nancy-pt7hi
@Nancy-pt7hi Рік тому
However they are not working together….😂
@emartinez1320
@emartinez1320 Рік тому
can we get a crack down here too? Rich people have it way too easy
@gund89123
@gund89123 Рік тому
They worked hard to earn that money. You are free to get rich too no one is stopping you from getting rich.
@user-hz9cm9qy3n
@user-hz9cm9qy3n Рік тому
@@gund89123 no .They get rich not only through their minds, but also by taking advantage of the environment established by workers and society. But they took away almost all the wealth they gained. This is obviously very unreasonable. unfair. This is the state in which capitalists exploit workers. No matter how smart you are, or how talented your mind is in business, you can't do all this by yourself. You need the society and people to complete with you, but you have taken most of the wealth. Don't say the law is right.
@emartinez1320
@emartinez1320 Рік тому
@@gund89123 no they didn't, the people peeing in bottles while working at amazon work hard. Meanwhile jeff won't take a meeting before 10! You see that and you like that? I hope you're already rich otherwise you just like being exploited
@caspianjuniper
@caspianjuniper Рік тому
@@gund89123 Yes, they did work hard to earn that money in the beginning. And now they’re paying their workers the bare minimum which isn’t even liveable. The rich should pay more taxes because they can afford it. They should also be paying their workers more. The rich are greedy. No one needs billions of dollars. They won’t even spend it all in their lifetime. Capitalism doesn’t work for everyone, period. And saying that poor people can just “get rich” is quite ignorant and shows just how little you actually know about Capitalism and what goes on within all of that.
@hanchengyu3119
@hanchengyu3119 Рік тому
This video is extremely precise. Kudos!
@soothsayer2406
@soothsayer2406 Рік тому
That's a very wise move on their part...instead of the Corporations controlling the government.( Ie. Google, PFizer, Raytheon, Boeing etc)....which represent the people's power...its the Government that controls the corporations....the way it should be.
@personalemail9329
@personalemail9329 Рік тому
Right. Because communism and excessive government intervention has always led to great results and has never been abused. Completely agree.
@Meinan4370
@Meinan4370 Рік тому
State run companies are extremely inefficient and have a track record of low innovation
@cianmoriarty7345
@cianmoriarty7345 Рік тому
Bullshit. I take the point that companies can indeed can be an oppressor. But saying the Government is the people's power is wilfully blind. The people's power is their own agency. Which is curtailed by the government, hopefully in a way which only stops them using that agency to harm that of others.
@user-rj6pz5os1t
@user-rj6pz5os1t 6 місяців тому
@@Meinan4370 不一定,中国的高铁确实连年亏损,中国的地铁,公交系统也是如此,但是国家企业没有为了盈利而提高售票价格,最终获利的仍然是人民。你不要忘记,国企是为人民服务的,并不是为盈利服务的,国企利润仍然属于所有人民,而不是私人财团。
@worldisone1975
@worldisone1975 Рік тому
Chinese tv brand are selling wall mount separately and charging more extra for it also if you don't use there wall mount then warranty would void....
@nishant54
@nishant54 Рік тому
No one will know.
@jonathanodude6660
@jonathanodude6660 Рік тому
no VESA? idk if you can lobby your local official, but maybe remind them about standardisation and/or cooperation.
@MuppetsSh0w
@MuppetsSh0w Рік тому
Good practice. 80% of people already have a compatible wall mount.
@hurbrowns5397
@hurbrowns5397 Рік тому
This is why ''China is a capitalist country just like USA'' is not true.. In China, the government still have strong grip on private companies. As said on the video, 25 tutoring companies got bankrupted and massive companies like Alibaba lost stock value. Imagine Amazon under the same circumstance. This kind of crackdown would never happen in USA, even a simple popular GDPR law like the one EU is not even talked about in US Congress.
@gund89123
@gund89123 Рік тому
Because USA believes in small government, less regulation. USA expects people to decide what is good. People should vote with their wallet instead of expecting government to help us with everything.
@user-in5kc9eu8b
@user-in5kc9eu8b Рік тому
@@gund89123 and USA failed to control convid....that prove" small government" Have shortcomings The government has the strongest strength. If the government decides to help the people, the effect will be the best. The United States has given up letting the government help the people, which means that it has given up its greatest power to help the people.. If China does not give up, China will make faster progress and eventually surpass the United States
@caspianjuniper
@caspianjuniper Рік тому
@@gund89123 which is why China is better. Their government actually bothers to fix things while the US government is lazy and doesn't do much to help their people. Democracy doesn't work as well as you dream it to.
@0mildoo
@0mildoo Рік тому
China absolutely has a capitalist economy. Industry is still in private hands, and while the state has shares in many companies they still more often than not operate with extreme latitude. The Chinese state remains the master in this relationship (unlike what you’ll find in the US) but even when the state uses its weight its reforms are not to be mistaken as socialistic. At best they’re the sort of reforms that can be seen in plenty of liberal democracies in which labor may be thrown a bone but the primary objectives are keeping industry sharper and suppressing worker agitation. Even China’s own state owned industries operate in ways that would make your average American middle manager blush. China does not have a laissez-faire capitalist economy, but in effect it really isn’t all that different from western relationships between state and capital.
@Zxv975
@Zxv975 Рік тому
USA is an oligarchy.
@lloydfromfar
@lloydfromfar Рік тому
Well done, thanks for the context, all that seems rather good after all.. :)
@niclaszhang1076
@niclaszhang1076 Рік тому
我认为techAltar讲到的这部分政策基本上是与事实相符合的,所以我决定订阅并持续关注后续的信息。
@timergooff
@timergooff Рік тому
The crack down on for profit education is to prevent social economic classes from becoming permanent. Education is one of the main ways one can transcend social economic class. But if richer families have a permanent leg up by able to afford expensive after school programs, classes become entrenched, which is what has happened in the US/Japan.
@789know
@789know Рік тому
Also it affect kids mental health given the chinese mindset. Still ppl may find way to stuff kids with more after school studies. Government want to have their vision fulfill
@krunkle5136
@krunkle5136 Рік тому
@@789know as much as cramming isn't too great, society being centered around education as a road to a better job is a great mindset.
@gbadspcps2
@gbadspcps2 Рік тому
Cracking down on people trying to earn a living by passing on their valuable skills to others is a terrible idea, and hits much more than just after school tutors.
@paulskiye6930
@paulskiye6930 Рік тому
Look at South Korea,bits even more insane.
@TL-fe9si
@TL-fe9si Рік тому
It won't really stop the rich families from hiring private 1-on-1 tutors secretly. I think this policy mainly aims to stop "an inflation of out-of-school tutoring". The more everyone takes extra tutoring, the more everyone needs to take these tutoring. It's just spiraling out of control, and people are in essence wasting their money since almost everyone takes such extra tutoring classes == no one takes these extra classes, and their money is just all wasted. As long as most families stop sending their kids to these tutoring schools, their money can be saved for something else, potentially boosting other sectors of the economy, and the majority of the kids will have less pressure from competitions that don't really improve their academic performance.
@anon_y_mousse
@anon_y_mousse Рік тому
I think the real reason they cracked down on Jack Ma is that they didn't want a space alien telling them what to do.
@samwiseknows
@samwiseknows Рік тому
This is mean. Imagine if he read this comment, he would be so upset.
@trevortrevose9124
@trevortrevose9124 Рік тому
@@samwiseknows you think he uses youtube 😂😂😂pretty sure its banned in china
@gonzalos4379
@gonzalos4379 Рік тому
@@trevortrevose9124 Hi there, I'm commenting directly from China, LOL
@ashercoronel4925
@ashercoronel4925 Рік тому
@@gonzalos4379 what kinda Chinese guy is named Gonzalo
@astartes8621
@astartes8621 Рік тому
@@ashercoronel4925 an Expat...
@alexxx4434
@alexxx4434 Рік тому
I think similar "laying flat" symptom was also present in later stages USSR, as many stopped to see bright prospects in the future.
@wgsmaster
@wgsmaster Рік тому
This is the simplest and most to the point explanation I have seen. And from a westerner nonetheless, is IMPRESSIVE. Best explanation video I seen about the crackdown.
@ElJosher
@ElJosher Рік тому
Good on them for lowering education pressure and working hours. They severely needed it.
@tamask2172
@tamask2172 Рік тому
Education pressure is still there, but now instead of learning something possibly useful (like a foreign language), they need to study ccp propaganda.
@krunkle5136
@krunkle5136 Рік тому
Hope they don't let education slip from their fingers. "It's too hard, I'll just read the summary and that'll be enough".
@ArawnOfAnnwn
@ArawnOfAnnwn Рік тому
@@tamask2172 The crackdown was on after-school programs, which simply re-teach whatever the curriculum is. It has nothing to do with the school curriculum.
@andrewphillips8341
@andrewphillips8341 Рік тому
Well, when you use slave labor you don't need to worry about education levels.
@tamask2172
@tamask2172 Рік тому
@@ArawnOfAnnwn After school curriculum was the advertised target (much of which are English classes btw), but the very same time language education was also gutted and replaced by doctrine.
@josereneticsay32
@josereneticsay32 Рік тому
I have bee wondering why it feels like Jack Ma suddenly disappeared, and now I know that he actually did lol.
@TheAkdzyn
@TheAkdzyn Рік тому
This was insightful. Thank you!
@iDimOS72
@iDimOS72 Рік тому
Thanx. I was wondered about all those
@liadsagi3
@liadsagi3 Рік тому
I love how your videos so different from my typical iphone-pixel-samsung reviews
@protocetid
@protocetid Рік тому
which can be thinly veiled advertisements
@Doughsz
@Doughsz Рік тому
@@protocetid disagreed, watch mrwhosetheboss’ video on phone review ads
@ChristianMueller
@ChristianMueller Рік тому
Thanks for your fantastic work!
@SixOThree
@SixOThree Рік тому
I’ve had a growing interest in Nebula but Jet Lag’s cliffhanger tactics convinced me to pull the trigger. Excited to have some free time soon to explore.
@Sebastian-oo7xi
@Sebastian-oo7xi Рік тому
I just got curiosity stream with the link, how can I now log into nebula ? as soon as I entert the krcard code I got into curiosity stream... there is an option to get a second premium sub to get it... but that was not what I intended. I thought I get both for a year?
@bruhder5854
@bruhder5854 Рік тому
This was a well presented and well informed video. You've earned a like.
@gjk8110
@gjk8110 Рік тому
This is very quality research and not like other channel plain anti china
@Johnny53kgb-nsa
@Johnny53kgb-nsa 10 місяців тому
Do you have other video's pertaining to US and China trade, their possible military confrontations, and if US companies are leaving China? Thanks! John
@EdwinaTS
@EdwinaTS Рік тому
Wow! Thanks for the explaination.
@eddiestilll
@eddiestilll Рік тому
techaltar's quality never fails to disappoint. :) i was wondering why chinese tech companies seem to be less prevalent in the 2020s compared to the 2010s but this explains a lot!
@regisd6497
@regisd6497 Рік тому
I'm a Chinese speaker, and your video is very inspiring. Thanks. Here's my comment. (Partially translated by google) The "market economy" has its bright side, but it also creates a growing divide between the rich and the poor, as well as ever-higher debt. China may want to step back a bit towards a planned economy in order to achieve "common prosperity", but the disadvantage is this may affect the overall economy amount. Until the next technological revolution comes, I don't think there is a best way to choose. As long as the choice didn't afffect social stability too much, I think it's still acceptable to me.
@sriramanvelayudhan230
@sriramanvelayudhan230 Рік тому
I think common prosperity is privately funded stimulus. Eventually, if the goal of lifting more people up and aid economic expansion is realized, the companies funded it will also benefit in terms of more consumers who can afford the company's products and services. Govt need to intervene when they observe things are disorderly to impact or decimate the vulnerable. Even the US resorted to QE to ride out of 2008 financial crisis brought about because of pure market driven philosophy. The rich elites got bailed out by the US government at the cost of average person on the street many of whom lost jobs and homes. Managed & planned pain is better than the US model of reckless market economy. Also, Chinese model seems have not stifled innovation either, given the sanctions US is applying on China because they dont want Chinese to outgrow the US capabilities
@HuntingTarg
@HuntingTarg Рік тому
@@sriramanvelayudhan230 1. China and the US, like most of the world, each run on a _fiat_ money system. Monetary inflation is a common problem in both economies, and both are getting hit hard by it. 2. China is running into the same basic issue that the US has; a Pareto distribution of wealth. This is a natural consequence of open markets. I do not see it as an inherently bad thing, largely because command of larger amounts of capital can do good as well as bad, both in the marketplace and in philanthropy. Marketplace example: Elon Musk, both with his successes in engineering enterprises, and his purchase and promise to 'clean up' Twitter (he's getting back to his roots as a coder there). Philanthropy example: Andrew Carnegie. Many hundreds of libraries, schools and school facilities, auditoriums, performing halls, and conservatories bear his name across the U.S., including the famous Carnegie Hall. He was a coldly ruthless businessman, yet after his victories loosed his wealth to improve the cultural infrastructure of his native country. That doesn't make him a good-hearted person. It does mean that free and open markets, over the long term, do work for everyone.
@HuntingTarg
@HuntingTarg Рік тому
@@sriramanvelayudhan230 In my own perspective, sanctions on China are the right thing for the wrong reason with the wrong timing. China is one of the worst human rights violators in the world, yet they sit on the U.N. Human Rights Council. Don't believe me? What about their "zero C0VID" policy, for starters?
@youtubedeletedmyaccountlma2263
@youtubedeletedmyaccountlma2263 Рік тому
There is no country in this world that is fully free market or fully planned market. In some aspect you could see US is even more “socialistic” than China
@willv88
@willv88 Рік тому
I feel that common prosperity is achieved through better education. The pre-college education in the US really isn't up to par (look at global education rankings) while the Chinese pre-college education is a bit too harsh - Chinese students often "give-up" after they get into university. The advantage the Chinese have is a culture that emphasizes education. Giving a homeless man an extra dollar means nothing if you can't give the homeless man an education.
@cmkar1013
@cmkar1013 Рік тому
Hi, could you please make a video explaining about *ONDC* of India in bit detail, thanks...!!!
@len2063
@len2063 Рік тому
It will be interesting to see what the results will be in comperising to the western model.
@subodhpareek18
@subodhpareek18 Рік тому
Incredibly fascinating video, in a completely unpretentious style
@treefarm3288
@treefarm3288 Рік тому
Very good and well thought through video. I'm not a business person but studied Chinese history at university and have always found it a hard country to deeply understand. Thanks for providing this analysis. It remains to be seen how these rather extreme actions, which like you said, would normally have been taken over many years, end up affecting the country and its business and society. The privacy regulations are really a surprise, but of course the government is excepted.
@MrManny075
@MrManny075 Рік тому
You need to be neutral to see the actual picture prejudice is not good, You can say they took those actions because they can, they don't fear losing votes. what can't break you makes you stronger, so you can say those actions will bear fruit in the long run, It looks like the Chinese learn from other countries' mistakes first than their own,
@mikeandersson7962
@mikeandersson7962 Рік тому
Instead to study china and chinese culture u need to visit and stay there awhile or listen to these shits ytubers spesialisti china edition.
@Finnv893
@Finnv893 Рік тому
Not deep at all when you look at it sideways, the government body has been doing the same thing for the past 1500ish years, whenever there was/will be only ONE, not multiple in times of fracture; CCP policies are no different from imperial edicts from the first emperor and the ones that followed him. P.S there are two governments rn claiming legitimacy in case you are not aware, that's why both sides are butthurt as hell.
@ee-bz5em
@ee-bz5em Рік тому
事实上,作为一名中国人,在中国大学学习自己历史时,都会让人感到精神分裂
@scarletvan4749
@scarletvan4749 Рік тому
One good way to sort of understand China and some of its policy is to look at the single most influential cause of downfall of a dynasty throughout it's history, the peasant rebellion.
@haoruchen4216
@haoruchen4216 9 місяців тому
great journalism!
@danmosby7980
@danmosby7980 Рік тому
Thank you what a great explanation. Tying together the lying flat phenom with the economy and the tech sector shpow depth of understanding. The further invetment in tech such as EV industry makes sense. I hope your right.
@yennapallyvamshireddy3590
@yennapallyvamshireddy3590 Рік тому
I hope, India also does the same for after-school education for kids below 14. It's putting the burden on both the parents (Financially) and kids (Mentally).
@atomicviking2497
@atomicviking2497 Рік тому
Wow. Just wow. I'm in awe at the sweeping hand of the Chinese Gov. From a US/Western point of view I admit, I'm a little jealous. This kind of move seems impossible politically in the US, even though we need it so much. Tech companies are basically predators in the US with so much unchecked power and monopolistic behavior.
@Doughsz
@Doughsz Рік тому
Don’t be jealous, be thankful in fact that you don’t live in an autocratic state where the government can take away everything in mere seconds if you make one wrong move. A government having sweeping power over everything is never good
@mrhoneycutter
@mrhoneycutter Рік тому
While better anti-trust regulation is needed in the tech sector, I don’t think our government being able to eradicate entire sectors of commerce overnight is a thing to aspire to. While I think our government can be sluggish it’s better than complete control over every aspect of our lives.
@Doughsz
@Doughsz Рік тому
@@mrhoneycutter true
@ouilar2816
@ouilar2816 Рік тому
​@@Doughsz its not always a bad thing. if China didn't have unchecked power over the private sector they wouldn't have been able to stop evergrande from destroying their economy. They can play by their own rules, use every single weapon they have to keep the economy going, and tell the free makert to fuck themselvs. overall its a bad thing, but you gotta admit it has its perks
@jered1675
@jered1675 Рік тому
@@Doughsz Where did you hear that? From the BBC?
@sephypantsu
@sephypantsu Рік тому
I'm a long time user of many Chinese software and in the past you'd need to carefully uncheck boxes and even block installations as they auto-install so much bloatware. Now, all of them are clean, very clean.
@kckfen
@kckfen Рік тому
Wow... very spot on. I fully agreed with your analysis. Is a rare gem that someone able to pick up this. Well done.
@richwu6752
@richwu6752 Рік тому
They don’t want China to become like Japan or Korea, not sure if it will work, but they will try.
@zhappy
@zhappy Рік тому
Actually South Korea had also banned private tutoring many years back
@paulskiye6930
@paulskiye6930 Рік тому
@@zhappy yes, but there are always around the regulation. For example: having lessons in car, while being driven around the city
@richwu6752
@richwu6752 Рік тому
@@zhappy yep
@richwu6752
@richwu6752 Рік тому
@@paulskiye6930 of course, you can just hire a private home tutor, who is gonna know?
@steadyballer
@steadyballer Рік тому
I got burnt by these tech stocks. Thanks for the informative explanation, TechAltar. Feel better already knowing why 😅.
@sibeiho
@sibeiho Рік тому
So question is whether its time to buy these tech stocks now...
@Adore_04
@Adore_04 6 місяців тому
Man you need a better filter on your mic, good content btw👍🏻
@Cosmic_Hobo
@Cosmic_Hobo 9 місяців тому
Inspiring stuff.
@xenotiic8356
@xenotiic8356 Рік тому
Overall this is pretty good! Some parts I am not a fan of, like how in same ways this is an obvious power grab. With that said, I'll always trust a government more than a for profit corporation, even if I trust neither. Also the fact China has better Internet privacy laws than the US is absolutely hilarious, a sweet nectar of the finest irony.
@warrenjoseph76
@warrenjoseph76 Рік тому
Trust neither. Trust only in God
@xenotiic8356
@xenotiic8356 Рік тому
@@warrenjoseph76 Trust me, that's already what I do
@bobjones2959
@bobjones2959 Рік тому
Laws aren't what matter though, what matters are institutions and enforcement. China may well have more comprehensive laws but if they are only used as a bludgeon by the government to punish or suppress people and opinions they don't like, then what use are they to the people? And it's common knowledge at this point that China's security apparatus is pretty much as Orwellian as it gets in the modern world. Constant tracking, security cams all over the place, facial recognition tech, etc. I don't even inherently disagree with better social cohesion and a more communal, less individualistic approach to governance, but you have to draw the line somewhere when it comes to civil rights and liberties. So far most people in China seem alright with it, but the worry is that if they ever want to change their government but the government refuses to change, by then it will be too late.
@xenotiic8356
@xenotiic8356 Рік тому
@@bobjones2959 I completely agree with this. I don't trust corpos or govts, it's just my own personal pecking order
@auroragb
@auroragb Рік тому
Except that China has privacy laws on paper while violating their citizens privacy daily. The Internet monitors monitored private chat conversations between citizens to protest a bank that style their money and turned their health code red to prevent them from getting to the protest site as you need green health code to take any public or third party transportation
@rajindakodikara3471
@rajindakodikara3471 Рік тому
impartial and informative content... hard to find such material about china in western media... keep up the good work
@Doughsz
@Doughsz Рік тому
You’re not supposed to be impartial on dictators…that’s like being impartial on Nazi Germany you’re not supposed to be like that
@rajindakodikara3471
@rajindakodikara3471 Рік тому
@@Doughsz that's your opinion. How do you no the Chinese are nazis or dictators have you lived in china. Who the hell are you to tell us " what we are supposed to be " looks like you are the dictator want to be egomaniac.. get a life mate
@Doughsz
@Doughsz Рік тому
​@@rajindakodikara3471 the ccp puts 2 million miniorities in concertation camps and it has killed it own citizens and it uses rape as a form of toture, why are defending the ccp so much? As an Indian, they claim our lands and they claim the lands of Bhutan, Vietnam, all of Taiwan, the Philipines, Japan, and they occupy Tibet and West Turkestan (along with Inner Mongolia). And then you use deflection againist me and you call me a dictator...? lol what im just some random guy bruh what
@katehobbs2008
@katehobbs2008 7 місяців тому
Perhaps the mega companies had become too powerful to control. The Chinese Government would have seen the example in Russia, how the massive privately-owned corporations that sprung up post-Soviet era, wielded too much power and were beyond law or government control.
@ACCA2016
@ACCA2016 Рік тому
This is a good informative video. Thank you for doing this right
@Olli-Tech
@Olli-Tech Рік тому
Sounds very similar to the West, after the crazy economic growth, there is a time for focus on the person (cut working hours, more leasure time, more privacy protection etc.). Very interesting to see.
@futureshocked
@futureshocked Рік тому
I have a LOT of issues with China but their crackdown on the tech giants is 100% warranted. The one line from the video about 'disorderly growth of capital, focusing on a million new ways to deliver food, etc' is exactly how I feel about US tech right now. We're wasting a generation of our most brilliant people on shit like pet sitting apps, video games, etc instead of real problems that need to be solved.
@Cecilia-
@Cecilia- Рік тому
yes especially seeing the while ust and ftx scam bust and Jack ma going on about not having any regulations on his Alipay bank. thank duking god, china stop that or an FTX situation with Alipay and people losing their money
@jimzeus7761
@jimzeus7761 Рік тому
As a matter of fact, most of your issues with China are just bias from Western media.
@futureshocked
@futureshocked Рік тому
@@jimzeus7761 That's not true. I lived in Korea for a long time, worked in the tech industry and got to see China's effects on it's neighbors. So yeah I still have a lot of issues with China that have nothing to do with Western Media. You need to do some traveling and living bud.
@jimzeus7761
@jimzeus7761 Рік тому
@@futureshocked I used to work in S.Korea too, and of course some other countries in Asia and Europe. Maybe you should do some more travelling and living.
@futureshocked
@futureshocked Рік тому
@@jimzeus7761 Alright, apologies for the spiciness
@lizi1936
@lizi1936 6 місяців тому
There also a important information you forgot on Ant group. They were practicing financial crimes similar to what Lehman brothers did in 2008. In another word, China potentially stopped an economic crisis by itself.
@OhCrazyEggs
@OhCrazyEggs Рік тому
Good analysis!
@namanjain5763
@namanjain5763 Рік тому
As an investor who just love to study tech and even other companies. China is really very random in there own laws as stated with many tech industry examples in this video. Most people will think they also don't understand tech completely so make such decisions but when you look at automobile industry they almost collapsed the whole two wheeler market in matter of few years , have absolutely crushed there chemical company years ago, have made many rules that make there metal industry to be the best to worst to best again to worst again. This just shows how they can give full open hand and make there company world leaders and when they think it is getting out of hand make them even go bankrupt in just a few years. Many of these decisions stated were not even that new but a normal thing in China. They really favour what they like just in example they first favour niche chemical and they also ruin then after some years and that make them gain tech and also make comodity chemical be more there as it might create less value but is more important for our life overall.
@greebj
@greebj Рік тому
How much is just bog standard corruption hidden behind a smokescreen of altruistic puffery and how much is actual altrusim?
@ThePowerLover
@ThePowerLover Рік тому
@@greebj Almost all is just corruption.
@royk7712
@royk7712 Рік тому
China control on its economy is astonishing. But I do support on these uncontrolled capital expansion crackdown. It's so unnecessary to have 5 apps similar to didi or Uber. Also this apply to other industry as well. Overproduction is a thing, after it happen company is force them to sell at lower price and it damage the whole industry. Price war is a bad thing for everyone
@JimStanfield-zo2pz
@JimStanfield-zo2pz 8 місяців тому
​@@royk7712price war isn't bad, that's how you get competitive pricing. What's unnecessary is arbitrarily interfering in economic activities that idiots like you and the politicians that you support don't understand and never will. The politicians and their ilk need to be reigned in. All they want is unwarranted power, and they never have enough knowledge, creativity, or intelligence to justify or use that power in any kind of constructive manner.
@lordlee6473
@lordlee6473 Рік тому
To say it’s a wild wild East is an understatement. I have yet to find a more entrepreneurial people than the Chinese, who when setting their mind on something will get anything done. And I think what China is doing should be what every other country should be doing. US is too dominant in certain industries and if China find it dangerous to be too dependent on American technologies, then I can’t imagine how absolutely vulnerable other countries are.
@RajahSaheb
@RajahSaheb Рік тому
A great video which gave me a different perspective about China.
@paulbytheriver4976
@paulbytheriver4976 Рік тому
outstanding presentation, thank you.
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