China loses Trillions in Stock Market Crash, NYSE Suspended due to Glitch

[westopher]

90% of media stories are negative. Watch the first 10 minutes of any news cast and tell me how many positive stories you hear. Negativity gets viewers. Canadian media has just as high of a percentage of negative media stories pertaining to its own country. There isn't some hidden anti China agenda. The media likes to stir the shit pot regardless of background. Controversy gets people talking, talking gets ratings, ratings get money. All that matters is money when it comes to media.

[Traum]

Originally Posted by willystyle

I disagree! I believe there is an anti-china sentiment among major western mainstream media. It doesn't take much digging to know. For every 10 news stories posted about China, 9 of them are negative from the west. Many of the positive news stories that happen in China rarely ever get printed. You can go all day listing reasons why. I believe the news media is standing behind the stance of our governments and that is to paint Russia and China to be part of this evil cult. Unfortunately, many fall for it, and chooses to believe it. This is my opinion, and I don't expect everyone to agree.

Dude, I think you need to ask yourself what the role of news media is in this world. Are they supposed to only just report on the good or neutral news?

I'd say 90% of the stuff that gets published in a proper mainstream newspaper is supposed to be factual, with the remaining 10% being editorial / columns, etc. With that in mind, the next thing you need to ask is, out of those 90%'s worth of factual content, what would make them newsworthy?

Big events certainly deserve at least some attention. However, most of the time, the news-worthy items are problems in society. The news media is known as the Fourth Estate / the Fourth Power precisely for this reason. They need to report on the problems so that the public can exert pressure on the government to get these problems fixed. Any good news media outlet / publication builds its reputation on their in-depth investigation on problems that are happening all around us, and they do this most of the time. Reuters, NY Times, BBC News, even the lowly Vancouver Sun are spending most of the time digging into problems at the local, provincial, and national level for their own respective countries.

Now flash forward to China -- are you trying to tell me that China has less shxt happening than Canada on a daily basis? Have you actually lived in China? If you haven't, I suggest you to try living in Shenzhen, Dongguan, Guangzhou, Shanghai, Beijing, or any of the 2nd tier cities for a month like a regular local citizen. If you can come back and honestly tell me that you experience less shxt than you do here in Canada, I will shut up and never talk down on China again.

[Traum]

Originally Posted by westopher

90% of media stories are negative. Watch the first 10 minutes of any news cast and tell me how many positive stories you hear. Negativity gets viewers. Canadian media has just as high of a percentage of negative media stories pertaining to its own country. There isn't some hidden anti China agenda. The media likes to stir the shit pot regardless of background. Controversy gets people talking, talking gets ratings, ratings get money. All that matters is money when it comes to media.

Following up on Westopher's note, the only news channels I know of that are generally spreading good news about its own city or state are government mouthpieces, and overwhelmingly, they are found in authoritarian / semi-democratic places. Even CCTV (China Central Television) delivers a good amount of coverage on negative news regarding China's own problems. Generally, the stuff they talk about only concerns regular daily living issues, but as soon as it creeps anywhere close to political issues, they would just shut up and follow the party line.

[SkinnyPupp]

Originally Posted by willystyle

I disagree! I believe there is an anti-china sentiment among major western mainstream media.

So are we talking about western media again? Or still north american?

Originally Posted by willystyle

For every 10 news stories posted about China, 9 of them are negative from the west..

Anyway... for every 10 stories posted about anything, 9 of them are negative. That's just how the news is man.

[willystyle]

Originally Posted by Traum

Dude, I think you need to ask yourself what the role of news media is in this world. Are they supposed to only just report on the good or neutral news?

They need to maintain a balance of good, neutral and bad news reporting. Unfortunately from what I see, it's mostly bad from what they report about China.

I'd say 90% of the stuff that gets published in a proper mainstream newspaper is supposed to be factual, with the remaining 10% being editorial / columns, etc. With that in mind, the next thing you need to ask is, out of those 90%'s worth of factual content, what would make them newsworthy?

What is fact? It depends on which side you stand. Each side has their own "facts". Based on western history, "official" facts always come from the side of the winners. If you ask the Germans or the Japanese how WWII went down. Pretty sure they will give you a different side of their "facts".

90%.... you're being too generous.

Now flash forward to China -- are you trying to tell me that China has less shxt happening than Canada on a daily basis?

I'm trying to tell you that there's just as much bad shit, if not more shit happening in China, at the same time, there's a lot of good things that happen in China as well. As a role of the media, you should be impartial and report on both, if not a 50%/50% ratio, at least be 60/40, heck I be content with 70/30 (bad/good news). Unfortunately I feel like it's more of a 90/10, filled with astronomical amount of hypocrisy. I feel like their coverage is to target most if not, only all of the bad stuff that happens in China (this is my opinion and I could careless if you agree with me or not). If you don't think that our media is a mouthpiece of our western government then you really need to give your head a shake. There's only a handful of people that owns most of the media outlets in North America, and they are all buddy buddies with our governments (this is fact).

Originally Posted by SkinnyPupp

Anyway... for every 10 stories posted about anything, 9 of them are negative. That's just how the news is man.

As a whole, that's fine if they treat everyone equally like that (reporting on 9 negative news out of 10), but if you're doing that only to specific countries, in which case I feel that's how North American media portrays China and Russia. I have a problem with that, as that's discrimination.

[multicartual]

The mainstream media is about social control and programming.

[Carl Johnson]

Originally Posted by murd0c

The big question is what will this do to the Vancouver housing market? Talk about a lot of lost cash.

China's rich seek shelter from stock market storm in foreign property | Reuters

[ae101]

i know its too late now, but im still wait hyde to come in here & telling us how hes making millions off of this stock market crash

[rcoccultwar]

Negative news can be seen as positive. Positive news can be seen as negative. Some people are able to handle this way of approaching the concept of problem solving.

Old news but I'm not sure why it wasn't disclosed in the "western" media.

Apparently China stocks gained the most a few days ago since 2009, after police threatened to arrest "malicious" short sellers.

This can be seen either way if true. Can this even cross the minds of the authorities here in the West? Every transaction/trade is pretty much recorded nowadays to sound like Captain Obvious.

I could see future arrests for some of the sleaze-ball, weirdo short sellers, albeit, I don't blame for jumping off the ship. Maybe by then, kids will be more impressed by drag queens, opposed to drag races. Or even worse.

[Timpo]

China's rich seek shelter from stock market storm in foreign property

Australia, Britain and Canada brace for surge in interest after signs Chinese buyers are seeking safe-haven property markets in wake of stock market volatility

China's rich seek shelter from stock market storm in foreign property | Business | The Guardian

Real estate agents in Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai’s stock markets.

Sydney agent Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8m (US$10.3m) house in the harbourside city to Chinese buyers looking for an alternative to stocks.

China’s stock market crash is a problem for the whole world
Isabel Hilton
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“A lot of high-net-worth individuals had already taken money out of the stock market because it was getting just too hot,” Pallier, the principal of Sydney Sotheby’s International Realty, said. “There’s a huge amount of cash sitting in China and I think you’ll find a lot of that comes to the Australian property market.”

Around 20% has been knocked off the value of Chinese shares since mid-June, although attempts by authorities to stem the bleeding are having some effect.

Many wealthy Chinese investors had already cashed out. Major shareholders sold 360bn yuan (US$58bn) in the first five months of 2015 alone, compared with 190bn yuan in all of 2014 and an average of 100bn yuan in prior years, according to Bank of America Merrill Lynch.

While much of that money may initially be parked in more liquid assets like US Treasury bonds and safe-haven currencies such as the Swiss franc, there is growing evidence that foreign property sales may receive a boost.

“There is anecdotal evidence that Chinese buyers have intensified their interest in safe-haven global property markets, including London, as a result of the recent stock market volatility,” said Tom Bill, head of London residential research at Knight Frank.

Ed Mead, executive director of realtor Douglas & Gordon in London, said his firm had seen two buyers from China looking to buy whole blocks of flats.

“It is unusual to see the Chinese block buying, it implies that this is a capital movement rather than just individuals looking to park money.“

Since 2000, China has had the world’s largest outflow of high-net-worth individuals. Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, according to a report by residence investment broker Lion Global, a factor that is fuelling demand to buy foreign property.

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Most of these individuals, defined as those with net assets of US$1m or more excluding their primary residences, are moving to the US, Hong Kong, Singapore and Britain.

Brian Ward, president of capital markets and investment services for the Americas at commercial property company Colliers International, said Chinese investors had already sunk around US$5bn into US real estate in the first six months of 2015, more than the US$4bn they invested in the whole of 2014.

In London, Alex Newall, managing director of super prime residential realtor Hanover Private Office estate agents said he had seen an increase in interest from Chinese investors at the top of the market, although no transactions yet.

“They’re wanting to try and park large sums of money – I’m talking from £25m [US$38.5m] to £150m,” Newell said. “They’re looking to park that capital into London homes.”

Australia and Canada are also increasing in popularity, gaining an edge from their weakening currencies.

“Property prices are still cheap in RMB [yuan] terms,” said Timothy Cheung, a principal of Morphic Asset Management in Sydney.

The rush by Chinese investors into foreign property has not been without criticism, with some in London, Sydney and Vancouver blaming them for pushing up already spiralling prices.

The Australian government has moved to look tough on the issue, introducing new fees and jail terms for those found flouting foreign investment rules. The Chinese owner of a A$39m Sydney mansion was forced to sell up earlier this year after it was revealed the property had been bought illegally through a string of shell companies.

Others are concerned that Chinese investors who didn’t bail out of stocks quickly enough will be a drag on international property markets, particularly after Beijing on Thursday banned shareholders with large stakes in listed firms from selling for six months.

In London, Naomi Heaton, the chief executive of London Central Portfolio, said she had heard of investors pulling out of new-build purchases because they no longer had the capital.

It was a similar story for Vancouver real estate agent Andrew Hasman, who focuses on the city’s affluent westside area.

“I had a call last week from another agent wanting to know if a seller of a transaction we just did would allow the buyer to back out, because they had just recently lost a huge amount of money in the Chinese stock market correction,” Hasman said.

[Traum]

Originally Posted by willystyle

I'm trying to tell you that there's just as much bad shit, if not more shit happening in China, at the same time, there's a lot of good things that happen in China as well.

Sigh... Willy, I am not sure whether I should call you optimistic or naive. To dispel your bias against western / N.American media on China, I'd recommend you to look into something called "Chinese citizen journalist" (中國公民記者). These are Chinese citizens that, for whatever reason, choose to embark on the uphill battle against wealthy corporations and well-backed political figures in the name of a stubborn sense of justice. I would also recommend you to consider the risks and harsh treatments that they receive when their findings stand in the way of powerful bosses' wealth and clash directly with party directives.

And while I'm at it, please consider any of the Mainland Chinese activists that have been jailed or otherwise treated harshly. I will only list a couple of the more well known ones, since there are just far too many to list:

趙連海 Zhao Lianhai - A Chinese dissident and former food safety worker who became an activist for parents of children harmed during the 2008 Chinese milk scandal. In 2010 he was sentenced to 2½ years imprisonment for 'disturbing social order'.

高耀潔 Gao Yaojie - A Chinese gynecologist, academic, and AIDS activist in Zhengzhou, Henan province, China. Gao has been honored for her work by the United Nations and Western organizations, and had spent time under house arrest. Her split with the Chinese authority on the transmission and the seriousness of the AIDS epidemic in China hinders her further activities and resulted in her leaving for the United States in 2009.

高瑜 Gao Yu - A Chinese journalist and dissident who has been repeatedly imprisoned for her outspoken nature against China's political systems. Her latest (and current) imprisonment is purportedly tied to leaking state secrets when those very same pieces of news have been publicly made available by Chinese universities.

劉曉波 Liu Xiaobo - A Chinese literary critic, writer, professor, human rights activist, and 2010 Nobel Peace Prize winner who called for political reforms and the end of communist single-party rule. He is currently incarcerated as a political prisoner in Jinzhou, Liaoning.

Do any of these people have a bias against China? If anything, all they've got is a pure and stubborn sense of patriotism for China and nothing else. And what do they get in return from their beloved country's government?

There are very good reasons why the media just won't let go of the blatant atrocities that the CCP commit on a daily basis. Contrary to what you might want to believe, it is not out of spite or bias.

[willystyle]

Originally Posted by Traum

Sigh... Willy, I am not sure whether I should call you optimistic or naive. To dispel your bias against western / N.American media on China, I'd recommend you to look into something called "Chinese citizen journalist" (中國公民記者). These are Chinese citizens that, for whatever reason, choose to embark on the uphill battle against wealthy corporations and well-backed political figures in the name of a stubborn sense of justice. I would also recommend you to consider the risks and harsh treatments that they receive when their findings stand in the way of powerful bosses' wealth and clash directly with party directives.

And while I'm at it, please consider any of the Mainland Chinese activists that have been jailed or otherwise treated harshly. I will only list a couple of the more well known ones, since there are just far too many to list:

趙連海 Zhao Lianhai - A Chinese dissident and former food safety worker who became an activist for parents of children harmed during the 2008 Chinese milk scandal. In 2010 he was sentenced to 2½ years imprisonment for 'disturbing social order'.

高耀潔 Gao Yaojie - A Chinese gynecologist, academic, and AIDS activist in Zhengzhou, Henan province, China. Gao has been honored for her work by the United Nations and Western organizations, and had spent time under house arrest. Her split with the Chinese authority on the transmission and the seriousness of the AIDS epidemic in China hinders her further activities and resulted in her leaving for the United States in 2009.

高瑜 Gao Yu - A Chinese journalist and dissident who has been repeatedly imprisoned for her outspoken nature against China's political systems. Her latest (and current) imprisonment is purportedly tied to leaking state secrets when those very same pieces of news have been publicly made available by Chinese universities.

劉曉波 Liu Xiaobo - A Chinese literary critic, writer, professor, human rights activist, and 2010 Nobel Peace Prize winner who called for political reforms and the end of communist single-party rule. He is currently incarcerated as a political prisoner in Jinzhou, Liaoning.

Do any of these people have a bias against China? If anything, all they've got is a pure and stubborn sense of patriotism for China and nothing else. And what do they get in return from their beloved country's government?

There are very good reasons why the media just won't let go of the blatant atrocities that the CCP commit on a daily basis. Contrary to what you might want to believe, it is not out of spite or bias.

Because I seek for fair reporting thus makes me a Chinese Mainland activist, and possess a pure and stubborn sense of patriotism for China?

Oh boy! LOL!

Your response reminds me of George W. Bush's famous quote, "You're either with us, or against us".

[westopher]

Your idea of fair reporting isn't exactly what anyone with objectivity would expect to be honest.

[willystyle]

Originally Posted by westopher

Your idea of fair reporting isn't exactly what anyone with objectivity would expect to be honest.

I disagree, but to each their own.

[Traum]

Originally Posted by willystyle

Because I seek for fair reporting thus makes me a Chinese Mainland activist, and possess a pure and stubborn sense of patriotism for China?

Oh boy! LOL!

Your response reminds me of George W. Bush's famous quote, "You're either with us, or against us".

Dude, do you have an understanding or reading comprehension problem? When did I ever even implied that you are a Mainland Chinese activist or have any sense of patriotism for China?

Since you have obviously completely missed my point in the above post, I will explicitly spell it out for you. The point I'm trying to get across is, western media in general does not have a bias against China. China's very own citizens are doing exactly the same thing because there are shxtloads of problems overflowing in that country. News media, regardless of whether they are western based, Chinese based, corporate-based or citizen-based, are all reporting on the shxtloads of problems in China because those problems are there.

Gesh... now I understand why you think western media are not objective...

[Hehe]

I think Willy just wants to see in the news that China is all mighty and taking over the world.

Seriously though, mainland Chinese media is probably the most biased news report out there. For CCTV, China is always doing great while all western civilizations are in chaos or evil to take over someone else.

I'm not saying that western media is 100% bias-free, but relative to the Chinese media, they are saint.

[jing]

willystyle = Gululu?

[willystyle]

Originally Posted by Traum

When did I ever even implied that you are a Mainland Chinese activist or have any sense of patriotism for China?

Because you compared me to a list of jailed Chinese activists; otherwise I don't see the point of you making that list. But to be frank, I just scanned over your post, didn't read all of it.

Anyways, I'm going to leave it as this. Everyone has their own opinions, I don't expect to change yours, and you shouldn't expect to change mine.

[SkinnyPupp]

Originally Posted by Traum

Dude, do you have an understanding or reading comprehension problem? When did I ever even implied that you are a Mainland Chinese activist or have any sense of patriotism for China?

Since you have obviously completely missed my point in the above post, I will explicitly spell it out for you. The point I'm trying to get across is, western media in general does not have a bias against China. China's very own citizens are doing exactly the same thing because there are shxtloads of problems overflowing in that country. News media, regardless of whether they are western based, Chinese based, corporate-based or citizen-based, are all reporting on the shxtloads of problems in China because those problems are there.

Gesh... now I understand why you think western media are not objective...

For some reason it's hard to get across to people that when you point out problems in a certain country, you're not against that country. You're against the problems.

When people complain about mainlanders shitting and pissing in the streets, or greedy selfish spoiled cunts driving around like idiots in ferraris, they aren't against their race - they're against those people. Other, normal middle class mainlanders hate those people too.

But no, if you bring up any problems with China or Russia or anywhere else, you are just an evil westerner who has a preconceived bias against these countries for some reason.

I'll tell you now, you're wasting your time with willystyle. Many people have tried to open his eyes, but he would rather keep them shut, stick his fingers in his ears, and go "lalalallalalala" and keep all the hatred and negativity that has been instilled into him.

[willystyle]

LOL

This discussion is like arguing between left and right-wing politics. In the end, there really is no right or wrong answer, however, if you really feel that you need to come out of this discussion as a winner. I applaud you. Here's a candy as a reward.

[hchang]

Originally Posted by originalhypa

While that is true, one has to wonder where is the money coming from?
If my house goes up, which it has over the last few years, I'm actually poorer for it based on higher property taxes. If my house goes up on paper, I'm not earning any more than I was prior to the bump.

Unless you take into account the one thing that paper value will give you, and that is higher leverage for borrowing.


The Globe and Mail article on the subject is a lot more in depth than the CBC article and it goes into detail about the factors.



It comes down to consumer confidence being very high, just like it was in the US in 2007, a year prior to their major crash.

British Columbia?s luxury car boom is in full swing - The Globe and Mail

The globe and Mail article not only backs up your claim, but mine as well.

I still believe the MAIN contributing factor is overseas money, again not doubting that there are some dumb ones out there that put up loans against their house.

I'd be interested in seeing some numbers with population growth across BC and numbers of new cars hitting the road