Wipeout: China stocks in US suffer biggest 2-day loss since 2008

[ARMalik]

China moves to protect food delivery drivers from digital exploitation, knocking stocks such as services giant Meituan
Published: 7:58pm, 26 Jul, 2021

• The policy guidelines come as China ramps up a campaign to rein in Big Tech, forcing the sector to put greater emphasis on consumer and worker rights
• The guidelines are designed to protect basic labour rights for riders, including a base income, work safety, food safety, a decent working environment

Its not only protection for drivers but also to prevent these blood sucking digital giants to manipulate food, food supply chain and so on. These digital food and other companies are working to monopolizes food and its supply chain in every country including China. The Chinese government needs to crack down really hard on these arse-holes.

 

[lcloo]

What China just did is a good thing, why?

1) The hightech billionaires are getting richer and richer, instead of givng company shares (and profit sharings) to their employees like Huawei did, they went to Wall Street for listing, making themselves much more richer, while at the sametime making their trade war opponents, the Wall Street people and the rich and powerful Americans, richer.

2) Although the hardcore poor people have been elevated in their income status by the government, the income gap between the rich and the poor will be widened if the rich are getting richer at a faster rate than before. This is not good for the country in long term.

The aim of China's next 100 year plan is to further decrease income gap between rich and poor. Only those rich people with social responsibilties to help people of lesser income to prosper will enjoy the goodwill of the governmet in this socialist country.

 

[Hamartia Antidote]

lol look at this guy caring so much about Chinese stock market that no one in China cares about.

stock market != economy

I suppose you think only foreign investors are the ones losing money when the Chinese stock market goes down.

 

[Mista]

China’s state media try to calm stock investors after US$574 billion rout

State-run newspapers such as the Securities Times and the Securities Daily ran articles talking up China’s battered onshore and offshore stocks after a panic sell-off motivated by regulatory crackdowns.

www.scmp.com

 

[Hamartia Antidote]

Thanks for sharing our pain for your enemy China's long term goodness.

Thanks for finally waking up that foreign investors are not the target.

What China just did is a good thing, why?

1) they went to Wall Street for listing, making themselves much more richer,

The Chinese mainland market is going down too. Stop making lame excuses. They lost a lot more in the local Chinese markets.

China’s state media try to calm stock investors after US$574 billion rout

State-run newspapers such as the Securities Times and the Securities Daily ran articles talking up China’s battered onshore and offshore stocks after a panic sell-off motivated by regulatory crackdowns.

www.scmp.com

Well the Chinese billionaire's list just got smaller

 

[Hamartia Antidote]

Only those rich people with social responsibilties to help people of lesser income to prosper will enjoy the goodwill of the governmet in this socialist country.

Oh great..now China is going to know all about charities and what a scam they can turn into.

 

[letsrock]

At least on paper i see nothing wrong with that chinese govt is doing when it comes to big tech companies of china. it is clear for too long these Ali baba, didi, tencent etc got away with stuff they couldnt get away in usa.

It is also clear the market value of these chinese tech giants is based on worker exploitation or trader restriction of sort that will not be allowed in west. So a correction in market value is inevitable. The best caste scenario is chinese companies adopt to this and improve their competitiveness in a fair manner.

The worst case scenario is that this exposes chinese corporate management as second rate and the correction in their value will persist.

The other scenario is that chinese govt is arbitary and capricious which i have no way of verifying in this case.

 

[casual]

I suppose you think only foreign investors are the ones losing money when the Chinese stock market goes down.

Wow what a comment lol. You don't have any idea of bears and how to make money on the stock market. Don't talk anymore it just makes you seem stupid.

 

[Hamartia Antidote]

Wow what a comment lol. You don't have any idea of bears and how to make money on the stock market. Don't talk anymore it just makes you seem stupid.

Yes, this thread is full of incredibly stupid comments. You just don't want to point them all out. For instance I guess only Chinese investors know about buying low and selling high.

 

[Surya 1]

LOL.. This is good for China and bad for US. Thanks for posting such news and give DJ a glooming day!

I think brusted dam and flood caused because of that is also good for China. Anything happening anywhere is good for China. What say?