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(BBC-US)   China having trouble keeping the lights on   (bbc.com) divider line
    More: Awkward, Inner Mongolia, Manchu, Considerable uncertainty, Northeast China, Qing Dynasty, Jilin, Government, fourth quarter  
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732 clicks; posted to Business » on 28 Sep 2021 at 8:42 AM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-09-28 7:19:33 AM  
My understanding is this was one of the reasons China was cracking down on bitcoins.  So much electricity was being used for mining that they had to do more coal mining, etc to keep the juice flowing.
 
2021-09-28 9:22:02 AM  
Given how dynamic the world is in terms of shipping, China is rapidly losing it's mojo.  Wages for skilled workers have been at parity with the US for years now, and Xi is an egomaniac who is issuing edicts from an ivory tower, surrounded by highly educated yes men and women, sort of like if McKinsey ran the federal government for an American dictator.   However this echo chamber has its limits, which are now apparent.  Jobs are leaving China for cheaper countries and Chinese factories are automating at a rapid pace shedding more jobs for Chinese workers.
Meanwhile they are wringing hands over gambling and housing, making rash, ill-informed decisions.  Expect a bailout shortly.
 
2021-09-28 9:59:04 AM  

Northern: Given how dynamic the world is in terms of shipping, China is rapidly losing it's mojo.  Wages for skilled workers have been at parity with the US for years now, and Xi is an egomaniac who is issuing edicts from an ivory tower, surrounded by highly educated yes men and women, sort of like if McKinsey ran the federal government for an American dictator.   However this echo chamber has its limits, which are now apparent.  Jobs are leaving China for cheaper countries and Chinese factories are automating at a rapid pace shedding more jobs for Chinese workers.
Meanwhile they are wringing hands over gambling and housing, making rash, ill-informed decisions.  Expect a bailout shortly.


One of the biggest effects of the pandemic also casts a lot of doubt on the whole "China made Covid" crap the right-wing spews. The falling apart of the logistics of the just-in-time inventory model is going to help literally every country in the world except China as manufacturing of common components becomes more localized.
 
2021-09-28 10:23:45 AM  

Merltech: My understanding is this was one of the reasons China was cracking down on bitcoins.  So much electricity was being used for mining that they had to do more coal mining, etc to keep the juice flowing.


They could have gone with escalating payment costs where the more electricity you use the more it costs per kilowatt-hour.  Then the companies have to convince the local government officials that their company deserves a discount.  Aluminum factory = likely approved.  Bitcoin array = nope
 
2021-09-28 11:40:59 AM  

Cthushi: Merltech: My understanding is this was one of the reasons China was cracking down on bitcoins.  So much electricity was being used for mining that they had to do more coal mining, etc to keep the juice flowing.

They could have gone with escalating payment costs where the more electricity you use the more it costs per kilowatt-hour.  Then the companies have to convince the local government officials that their company deserves a discount.  Aluminum factory = likely approved.  Bitcoin array = nope


Except the opposite, because the Bitcoin guys have a virtually infinite amount of difficult to trace, dollar-denominated, cross-border currency with which to bribe officials. You think a regional power authority supervisor in the ass end of a mountain range is going to decide who gets power based on the merits of an enterprise?
 
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