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.

Comments

Re:I wonder why China feels so threatened

[HornWumpus]

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'.