Would You Hire It: China's "Resume" Revealed

After the worst two-week start to US stock trading in history, bulls need some cheering up. So here, courtesy of Citi's Brent Donnelly, is some levity: this is what China's Curriculum Vitae would look like if it was applying for a job. It is also a great summary for those who need a simple cheat sheet of where China was, where it is, and where it is going.

So would you hire it?

Comments

[bluskyes]

Everyone trying to avert a "financial crisis" when that's exacty what we need.

gangrene took the toe, but instead of dealing with it, and moving on it's been left to spread to the leg.

[Latitude25]

Missing from the resume:  accumulated 30000+ tons of gold.  Yes maybe they'll hire me.

[22winmag]

Barbarous collateral?

[Sorry_about_Dresden]

[lordbyroniv]

Doesnt the most current work experience go at the top?????

No cover letter either???

I wouldnt hire.

[hooligan2009]

if i was the fed, yahoo, google, uber, facebook, amazon, netflix (aka the fund, boohoo, boondoggle, unter, faecesbook, unamazing, netfix) i would put china on the board since we would be EMPATICO.

actually if i was a bank, an insurance company, a state treasurer, an HMO, a car company I would also, as PRESIDENT

in the MIC - or an oil company or food or nuclear - not so much - probably just ship everything back to China

just sayin

:)

[Ms No]

Could also add that China excels at unexplained explosions.  There was another one at a fireworks facility on Thursday.  Their New Years celebrations are coming up. There was another one a couple of days before that it is getting hard to keep track as they are happening constantly.

http://www.nydailynews.com/news/world/5-dead-chinese-fireworks-factory-explosion-article-1.2497510

[novictim]

I think a crime-blotter style CV would have been more appropriate:

Ran successful fraud on international investors for past decade or longer.10% plus growth per year?  Hahahaha.  Right!

Redirected real wealth into nepotistic enterprises; bugged the hell out with Ming-dynasty size parachote/capital flows to US Real Estate showing great promise as a future "job creator" in the USA. LOL...only the best and brightest, right?

Managed to create a sense of "the external enemy" to distract from my own monumental incompetence and inexperience in market economics. 

I built an Island in the middle of ocean I don't own!  That has got to count for something!

[Fuku Ben]

I'd hire China in a second and put them under contract. Even with any problems they have everyone is in the same sinking boat. The sooner everyone realizes the life boats aren't going to find land anywhere in a sea of debt maybe we can all make some progress. I'd be willing to take the chance they've accumulated far more gold than is publicly known.

Then we'll re-release their updated resume with their actual gold holdings. The West will find out sooner or later the Fed doesn't have their gold any more and everyone will regret their short-sightedness. Especially since one of the only real ways out of this debt based mess is with a good supply of gold.

The next fraudulent phase of the fiat integration of currency is never going to succeed by repackaging and renaming more of the same thing that is already failing.

[bid the soldier...]

Where's the background?

1st Opium War with England   1839 - 1842.  British East India Company grew opium in India and 'traded it for Chinese tea and silver.'

2nd Opium War   1856 - 1860

the Treaty of Nanking (1842)—the first of what the Chinese later called the unequal treaties—granted anindemnity and extraterritoriality to Britain, the opening of five treaty ports, and the cession of Hong Kong Island. The failure of the treaty to satisfy British goals of improved trade and diplomatic relations led to the Second Opium War

The 1858 Treaty of Tianjin was ratified by the emperor's brother, Prince Gong, in the Convention of Beijing on 18 October 1860, bringing The Second Opium War to an end.

The Chinese had to pay 8 million taels to Britain and France. Britain acquired Kowloon (next to Hong Kong). The opium trade was legalized and Christians were granted full civil rights, including the right to own property, and the right to evangelize.

Boxer Rebellion   1899 -  1901  

The Boxer Rebellion was a violent anti-foreign and anti-Christian uprising which took place in Chinatowards the end of the Qing dynasty between 1899 and 1901.

China was fined war reparationsof 450,000,000taelsof fine silver (?540,000,000 troy ounces (17,000 t) @ 1.2 ozt/tael) for the loss that it caused. The reparation was to be paid within 39 years, and would be 982,238,150 taels with interest (4 percent per year) included. To help meet the payment it was agreed to increase the existing tariff from an actual 3.18 percent to 5 percent, and to tax hitherto duty-free merchandise. The sum of reparation was estimated by the Chinese population (roughly 450 million in 1900), to let each Chinese pay one tael. Chinese custom income and salt tax were enlisted as guarantee of the reparation. China paid 668,661,220 taels of silver from 1901 to 1939, equivalent in 2010 to ?US$61 billion on a purchasing power parity basis.^[126]

Fukit, you read the history of China for te last 175 years and perhaps you'll understand why to this day hour and minute they call the years up until the end of World War two The Hundred Years of Humiliation.  And by all means slip into your smoky denial about what is happening in the Chinese markets today and whether or not they have orchestrated everything.   To shove a deep fried dildo up the ass of the New York Stock Exchange and all the crooks and thieves who hang out there from 9:30 till 4. By all means count on on the Chinese economy to soon fall apart while the high and palmy days of the American Economy are waiting to be seen. HA

[exartizo]

The Chinese Meltdown is waaaaaaay waaaaaay overdone.

[Equalizer]

Im pretty sure China cant use Australia on their resume, oh hang on they own half our real estate now, I guess they can then.

[Sorry_about_Dresden]

https://www.fas.org/sgp/crs/row/RL34314.pdf

Page 4 says it all.          The only thing that needs to be on resume

China's holdings of Treasury debt in 2012 was $3.341 trillion, 40% of their GDP.

How can anyone deny China is the greatest economy on EARTH?

Without the waging of constant warfare our economy is nothing.