India may become 5th largest manufacturing nation: BCG

[mylegend]

BTW,I work for a bank.....banks in CHina also meet many troubles now....which is mainly Non-performing loans (NPLS) ,caused by the liquid shortage under strict monetary policy

As far as cursing CCP and the bank, it is a common practice among business people, because often time, we felt that we paid so many taxes for nothing in return. Many time people around Canton province use underground banking system to lend from Hong Kong and Macau due to their relative low interest rate and strength of Yuan. That ways, you pay less interest when you are paying back your principal because Yuan appreciated. It is not strictly legal, but what else can you do. 发改委 is some of most out of touch agency I know.

 

[mylegend]

Another problem in China is businessman are overtaxed and faces constant fear of mass revolt, and illegal government crack down. You know even the most law-abiding businessman can be detain without any announcement and trial. Although most of time government plays by the rule it set, but much too often some official doesnt, and those case can always be heard around business community. That is why almost every business people I talked to are either thinking about migration to the US and Canada or already started the process. For people who want to kept Citizenship, much of them migrant to Macau and Hongkong.

Another scary thing I found out is I have been seeing so much praising comment in new comment section for cultural revolution, something like 文革的好，百姓心里清楚。or 只有贪官罪犯才怕文革. or 毛泽东当年就该杀光那批可以教育好的子女，你看没杀光现在就贪官横行。 Those are what really scare the people, government is reluctant to criticize that History of suffering. No wonder people want to migrating other places, with those leftist all over the society, people will not feel safe, middle class will not feel safe.

 

[badguy2000]

don't be so radical....most CHinese can benifit from the devolpement of China and hope that the country can be stable.

 

[amoy]

Hongkong and Macau interest rate may be relatively low thus an incentive for lending to mainland businesses by means of "underground banking" or "money laundering" - whatever one'd like to put.

Then do u know how high Indian intetest rate is, for the sake of fair judgement?

Sent from my 5910 using Tapatalk 2

 

[mylegend]

Hongkong and Macau interest rate may be relatively low thus an incentive for lending to mainland businesses by means of "underground banking" or "money laundering" - whatever one'd like to put.

Then do u know how high Indian intetest rate is, for the sake of fair judgement?

Sent from my 5910 using Tapatalk 2

I have no idea of the interest rate in India, because neither I or people I know do business there. I have lack of trust to their official data. Bangledash is a much more popular destination. For the very least, their government is much more efficient toward FDI. India have one of worst investment environment for foreign company.

In bangledash, official get things done after grease money, but in India, they took the bribe, and still bother you with red tape. But that is only what I heard, maybe things have changed.

 

[mylegend]

BTW,I work for a bank.....banks in CHina also meet many troubles now....which is mainly Non-performing loans (NPLS) ,caused by the liquid shortage under strict monetary policy

Another reason that why Chinese government should liberalized financial industry is Financial arm of Alibaba managed a less than 2% of bad debt. Those company they lend to are what bank deems as high risk, so you see there is thing state own bank are completely incapable to do

 

[mylegend]

Yes, most Chinese can benefit from stability