Sep

12

 "Chinese Billionaire linked to giant aluminum stockpile in mexican desert"

This is one of many ways to get capital out of the country, Ken Rogoff highlighted others in an article awhile back.

I am not in full agreement with the sanguine view on NZ, China, etc. for a variety of lengthy reasons but I thought this piece interesting.

Vince Fulco writes:

As an aside, my sample set is small since I am growing my network with Chinese who are in Toastmasters or employed by foreign firms, but I have rarely met a harder working group of young people. Most are required to work ridiculous amounts of overtime and still find time to go to English language schools, Meetups, Toastmasters like professional organizations and the gym/yoga/run once in a while. And from what I have been told by a few western employers, hiring people with advanced degrees and strong professional/personal motivations costs peanuts. That having been said, they are no fools and will jump ship for a small increase in salary. Loyalty means nothing if the employer is going to underpay for any length of time.

Maybe I forgot what it means to be young and give everything to an employer/cause/dream. The bottom line is underlying the grossly inefficient state-owned enterprise system are some stars in the making benchmarked on a world scale who can be hired for a relative pittance.


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