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China Set To Ban All Foreign Media From Publishing Online (independent.co.uk)
schwit1 writes: A new directive issued by China's Ministry of Industry and Information Technology has said that companies which have foreign ownership (at least, in part) will be stopped from publishing words, pictures, maps, games, animation and sound of an 'informational and thoughtful nature' unless they have approval from the State Administration of Press, Publication, Radio, Film and Television.
China's going through a very interesting transition period, and they're doing a lot of things that the average citizen might not agree with. It kind of makes sense in their society to crack down further on dissent at this point. For example, it's coming to light now that those "ghost cities" that the West laughed off as pyramid-building are actually part of a mass-urbanization movement. China's going to take hundreds of millions of rural farmers and move them to cities to jump-start their consumer-driven phase of economic development. Pulling something like that off requires total control over the population and the messaging around it. It will be very interesting to see if this can be done successfully -- the Cultural Revolution or Great Leap Forward didn't produce the expected results, and the Soviet crash program of industrialization had major side effects.
Now, how in the world do you enforce a ban like this? I guess the Chinese versions of internationally-owned news services are off limits now?
The Shanghai stock market is in the middle of a huge bubble. Powerful people in China are invested in that market. If normal people are allowed to know the average PE ratio on that market is still 50 (after a 50% drop) they will pull their money out, which will hurt the members of the central committee and their children.
I don't know how they think these powerful people will get their money out, but the powers that be are determined to not lose their money. So no 'bad mouthing' the Shanghai exchange.
This says nothing of the state of China's real estate market or banking sector.
To me it seams like the Chinese were babes in the Capitalist woods and have truly screwed the pooch. They will lose 20 years progress when the bubble finally goes pop and will likely try to blame 'the west'.
John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
I can't wait until November. President Trump will win the election with a landslide victory...
Yeah, about that...
Youth Vote Gap Suggests Republicans Risk Losing An 'Entire Generation' To Democrats
2016 is a repeat from 1992; a billionaire with funny hair vexes the Republican party and hands the election to a Clinton.
Sorry things won't turn out like you hope. Maybe next generation?