President Xi's New Economic Plans Spark A Crisis for China's Best-Paid Workers

Chinese President Xi Jinping is shifting away from once high-flying sectors as he looks to reshape the world's second-largest economy. Industries such as banking, tech and real estate are now out of favor. That change has upended the lives of millions of ambitious Chinese professionals. David Scanlan discusses the story with Shery Ahn and Haidi Stroud-Watts on 'Bloomberg: The Asia Trade.'

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[will]

Dalio is proof how we can get fed bad data by a good storyteller..

[huas]

In China, the government controls the financial group; in the U.S, the financial group controls the government. They both get what they want.

[JamzTipan]

aistockadvisor AI fixes this. 's plans spark crisis for workers.

[Mta]

Lol I don't feel sorry for these former high-salary workers at all.

[shawnliu]

Ok, ok, ok, China is in the new stage of the economy collapsing 😂

[huanghermann]

In China, the wealth is transitioned to technological sector from the financial sector.

[cybourne]

Speculators don't create values in the society, I totally agree with the concept to push the new generation of the brightest to focus on STEM.

[oisinquinn]

Ray should write a book about how China is on the fall with his hindsight. Amazing

[MultiMenvafan]

Dalio is long China and and has a strong bias. Dalios' China delusions (against his own principles) has made Bridgewater one of the worst performers among peers

[CTOInformation]

This is; <Bloomberg China Collapse Channel>🤣🤣

[simplephotos]

Bro was silent for a minute after “The Fund” came out

[canto_v]

“This time it’s for real.” American commentators on China since 1989.

[TF-q]

It's not about price, and it's always not about price for investing China

[devstatingx]

Is Trudeau taking economic advice from Xi? LOL

[turtlesoup]

Why should these people in finance get higher pay? They do such a bad job in running finance in China and the country is just going along fine despite their poor performance. Shouldn't they be replace with more competent people? China is focusing on tech talent not financial bankers. The bankers are playing a support role to the tech people that is currently tasked with tech breakthrough to ensure the survival of the nation against the backdrop of western sanction. Propping up real estate and the current crop of company will be a dead end and a losing strategy against the west sanction. Why are we surprised by the country shifting its priorities?

[anthonychi]

Ah, Ray Dalio, the Sage of Ghina, backpedaling into the abyss.

Communism and dictatorship is always about pulling up by your own bootstraps and getting fucked together, comrade Dalio

[hugolizard]

Bloomberg is right hard to get that 1.6B China bad money 😂🤡

[ronaldchristenkkson]

Given the Israeli-supplied pagers, I can now understand why China focuses on manufacturing.

[chintandobariya]

Everywhere politicians attacks Businessman. But in democracies there are courts to save. In China politicians just eliminated best entrepreneurial energy.

[INDIANSARESICKMENOFASIA]

India ought to have a permanent UNSC seat by now if they are really such a superpower country. What they have said/bragged/proclaimed on the internet simply does not mirror their power and influence on the global stage. 🤣 What kind of a superpower is India when it has to resort to begging for a permanent UNSC seat, repeatedly and consistently for over 30+ years, and still hasn't got it?
Source: JSTOR
Title of article: INDIA'S PERMANENT MEMBERSHIP OF THE U. N. SECURITY COUNCIL : CHANGING POWER REALITIES AND NOTIONS OF SECURITY
Author: Manoj Kumar Mishra (Indian)
What article said specifically: India has been bidding for the permanent membership of the United Nations Security Council since 1994 when India made its intention clear in the General Assembly that it was prepared to bear the responsibility of the permanent membership of the Security Council.
First time doing it, we called it asking.
Second time, appealing.
Third time, pleading.
Many times, begging