Hacker News Reader

Comment by onethought | Hacker News Reader

I think Shenzhen is the new valley of 1980. (Though to the GP you’re probably already priced out of the housing market there too )

View on HN

But China is still rotten to its core. Eventually that'll backfire heavily on both Shenzhen and entrepreneurs trying their luck there.

Being rotten, never stopped anyone.

The biggest problem is that money can get easily into China, but not so easily out of it.

They love to export goods, so it's still easy enough.

That will have complications in the future, but that's the next generations issue, not the person making the decision today that wants a nice bonus.

When they export, money gets in. But they don't import much , if you look at china's trade balance, it's at + 421 billion dollars [1] (money going in) while USA is at -616 B [2].

So it's in fact hard to get money out of china.

[1] https://www.statista.com/statistics/263632/trade-balance-of-...

[2] https://www.statista.com/statistics/220041/total-value-of-us...

But the total import of China in 2019 is $2.09 trillion. Which is 5 times the surplus you mentioned.

If your think that surplus is a lot, then 5 times that is definitely not "they don't import much"

And the states are not?

The US is a stable and functioning democracy. This is not to say it is perfect.

>The US is a stable and functioning democracy.

Our current president and almost half of the country explicitly doesn't think so.

This is hogwash, and a lie mostly propagated by blue check journo twitter. Remember, twitter is not representative of anything even close to consensus political opinion. It's mostly an echo chamber for elites patting themselves on the back for their "correct" opinions https://www.theatlantic.com/technology/archive/2019/04/twitt...

GP said nothing about Twitter.

Excellent observation. Correct you are GP said nothing of twitter. I did.

If you start with the beginning of my comment "this is a lie" and follow along to the end of the sentence, I begin to extrapolate where I believe to be the primary source of this lie, twitter, and make an indirect reference to the perpetuators of the lie, the media.

It doesn’t matter if it’s false or where people got the information, what matters is a surprisingly large amount of people honestly do believe it. Including most of my extended family, various friends in Georgia and Michigan, and even several friends in the bay area who should know better. If enough people believe a lie, they can force action based on that lie. We feel so safe saying “that’s hogwash”, but we should take it more seriously.

so the recently elected AG of Utah took a leave of absence immediately after taking office to fight voter fraud is just lies made up by lefties on twitter?

Regardless of your opinion on Chinese politics (or your opinion on California politics for that matter), Shenzhen is absolutely blowing up. Just talking with random tech and startup people there, you feel an energy and optimism that is hard to find in the bay area these days. As a non-Chinese citizen, investing in property there feels a bit too risky for my appetite, but I certainly would not bet against it.

Unlike other places, people don't own land in China right? You can only lease it for x number of years. That changes the dynamics of the real estate market.

Pollution is also terrible with no end in sight.

Reply on news.ycombinator.com