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Great Tainjin explosion video - https://www.facebook.com/DJStyline/videos/878422025560166/
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# ? Aug 13, 2015 20:36 |
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# ? May 27, 2024 02:05 |
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icantfindaname posted:It's essentially stealing from other exporting countries on the financial margins, which will piss those other countries off, and also it signifies a doubling down on their unsustainable export-focused economic model instead of weaning off it like they said they would and have to do to prevent their economy from making GBS threads itself It's kind of funny that the US can't take immediate advantage of it given how huge out inventory levels are right now. Which means, presumably, if there are wholesalers that haven't been stockpiling they'll be able to take advantage of the lower cost of importing - and the wholesalers that did stockpile are going to be looking at big losses. US inventory levels is why the Atlanta Fed just dropped US GDP growth down to 0.7% - https://www.frbatlanta.org/cqer/research/gdpnow.aspx So I can imagine the yuan valuation drop is going to make that worse.
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# ? Aug 13, 2015 20:40 |
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Thank you all for the answers, they were very informative.
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# ? Aug 13, 2015 21:51 |
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Warcabbit posted:Not available. Could you find a link to it or to the phone apps? Try this one: http://phmsa.dot.gov/pv_obj_cache/pv_obj_id_7410989F4294AE44A2EBF6A80ADB640BCA8E4200/filename/ERG2012.pdf It's on the phmsa, Pipeline hazardous materials safety administration, not sure why my link didn't work. New news is suggesting the explosion was due to 4.3s. Sounds like they might have been fighting the fire with water and sprayed the dangerous when wet. This means that there were major things that were hosed regarding documents, fire plans, emergency contacts and probably placard / markings on the containers with the warehouse. Bar Ran Dun fucked around with this message at 09:06 on Aug 14, 2015 |
# ? Aug 14, 2015 09:02 |
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BrandorKP posted:New news is suggesting the explosion was due to 4.3s. Sounds like they might have been fighting the fire with water and sprayed the dangerous when wet. This means that there were major things that were hosed regarding documents, fire plans, emergency contacts and probably placard / markings on the containers with the warehouse. I wouldn't be at all surprised if it turned out the firefighters don't get any training beyond "spray fire with water and it'll be fine".
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# ? Aug 14, 2015 09:30 |
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I think it's less the firefighters being poorly trained and more them not even knowing there was dangerous poo poo in that place (and thus spraying water as usual). It looks like the site wasn't initially meant to store chemicals and that nobody bothered to inform the owners of buildings in the area when Ruihai was allowed to start doing just that: God I hope those buildings had been evacuated before the explosions. That last sentence, hahaha
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# ? Aug 14, 2015 09:58 |
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Wow, when the final part of the whole process is 'Well this is probaby ok if we hypothetically do X, Y and Z at some point. So we'll approve it now and someone will probably get round to doing the things necessary for the approval at some point in the future.'
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# ? Aug 14, 2015 12:54 |
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There was a news article where the firefighters said they were never told there were chemicals that would react with water, but all evidence of the interview has been scrubbed from the media. As someone who has worked/lived in Asia for years I 100000% believe they were sent in without being told.
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# ? Aug 14, 2015 12:59 |
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They'll just make the news run more stories about MH relatives upset again and everything will be fine!
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# ? Aug 14, 2015 13:49 |
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Grand Fromage posted:There was a news article where the firefighters said they were never told there were chemicals that would react with water, but all evidence of the interview has been scrubbed from the media. As someone who has worked/lived in Asia for years I 100000% believe they were sent in without being told. Yeah I don't think we'll ever get the true scope of the tragedy and that's unfortunate. I imagine the death toll was a good bit higher than announced and those lives will just be swept under the rug.
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# ? Aug 14, 2015 14:46 |
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Grand Fromage posted:There was a news article where the firefighters said they were never told there were chemicals that would react with water, but all evidence of the interview has been scrubbed from the media. As someone who has worked/lived in Asia for years I 100000% believe they were sent in without being told. quote:Fire officials have defended the actions of the team who responded to the initial report of a fire on Wednesday night, amid suggestions that using water on some of the chemicals could have led to the blasts. throw to first DAMN IT fucked around with this message at 15:01 on Aug 14, 2015 |
# ? Aug 14, 2015 14:58 |
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MrNemo posted:'Well this is probaby ok if we hypothetically do X, Y and Z at some point. So we'll approve it now and someone will probably get round to doing the things necessary for the approval at some point in the future.' chinese logic.txt
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# ? Aug 14, 2015 15:03 |
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Man. Wait, how come the residential area looks so different? In the first picture it looks like there are 8 tall buildings but they are gone in the second one and there's no indication of that any housing has collapsed, thankfully.
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# ? Aug 14, 2015 22:42 |
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Poil posted:Man. Different time of day, lighting, and angle of shot.
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# ? Aug 14, 2015 22:47 |
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Either that or no more glass
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# ? Aug 14, 2015 23:07 |
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MrNemo posted:Wow, when the final part of the whole process is 'Well this is probaby ok if we hypothetically do X, Y and Z at some point. So we'll approve it now and someone will probably get round to doing the things necessary for the approval at some point in the future.'
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# ? Aug 15, 2015 13:12 |
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Or, you know, blow up one of the most busy ports in the country.
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# ? Aug 15, 2015 13:29 |
Pretty amusing article in today's Washington Post about how China's State Owned Enterprises are having a real tough time when they expand outside of the protectionist hugbox that is China's business environment. Some quotes: “Trade unions are all the same: They are blackhearted,” complained He Enjia, president of the Textile Enterprise Association of the Chinese Chamber of Commerce in Cambodia. “In the last two years, things changed in Cambodia,” he added, explaining that factory owners used to be able to hire police to suppress striking workers. “Now it’s impossible. The influence of the opposition party is growing, with the help of the Western media.” ........ In Texas, state-owned Aviation Industry Corporation of China (AVIC) is being sued for $7.5 billion by a former joint venture partner, Tang Energy, which claims it cheated on their deal to develop wind power — partly by creating competing businesses in the same field. It is something AVIC might have gotten away with at home, but not in the West. “In China the state owns the enterprises, and it owns the court. So if you’re a state-owned company, you never have to worry about having a fair fight. And here they have a fair fight on their hands,” E. Patrick Jenevein III, Tang’s CEO, said last year, according to the Dallas Morning News. ........ Li said that at least the business culture here is similar when it comes to bribing officials — Cambodians, he said, usually keep their word, unlike their counterparts in certain other countries. “They take money, and they keep their promise,” he said. “If they can’t do something, they say so directly. Not like some officials, who take money but then say they can’t help.” ....... The Texas case is pretty amusing. AVIC joined up with Tang Energy and others to bid on US based wind power projects. AVIC rejected a bunch of proposals from Tang and then had subsidiaries do the projects/investments, in addition to going after investment opportunities by themselves while the contract required them to give the joint venture first dibs on investment. Of course the US company demanded money from AVIC based on the contract AVIC signed. AVIC demanded arbitration but once they figured out that every partner that they screwed over gets to pick an arbitrator leaving the panel stacked 5-2 against them, they are now refusing to participate.
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# ? Aug 15, 2015 20:23 |
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You forgot one of the crazier parts of that article:quote:In June, a Chinese construction site manager was reported to have screamed at his workers once too often for being lazy, according to the Phnom Penh Post. After their shift was over, a group of workers returned to the site at night and hacked the manager to death with an axe
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# ? Aug 15, 2015 20:57 |
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My favorite part was:quote:In the United States, Chinese companies are facing hundreds of millions of dollars in damage claims over drywall imported to rebuild thousands of homes in the wake of Hurricane Katrina; it is alleged to have emitted toxic gas, caused respiratory problems and corroded electrical appliances.
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# ? Aug 15, 2015 21:08 |
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Chinese managers sent overseas are always shocked at how workers don't just take whatever poo poo they hand out. I can't find the article but several years ago some big Chinese company set up farms in Zimbabwe and had Henan farmers out there managing it. The Chinese managers were constantly complaining about how lazy the Africans were, demanding to be paid regularly for work. They were constantly withholding their salaries ala China, and in the end the Africans burnt down the farm and (I believe) killed the managers.
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# ? Aug 15, 2015 21:22 |
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Fall Sick and Die posted:Chinese managers sent overseas are always shocked at how workers don't just take whatever poo poo they hand out. I can't find the article but several years ago some big Chinese company set up farms in Zimbabwe and had Henan farmers out there managing it. The Chinese managers were constantly complaining about how lazy the Africans were, demanding to be paid regularly for work. They were constantly withholding their salaries ala China, and in the end the Africans burnt down the farm and (I believe) killed the managers. Is withholding wages commonplace in China? If so, how does anything function at all?
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# ? Aug 15, 2015 21:25 |
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Broken Cog posted:Is withholding wages commonplace in China? If so, how does anything function at all? Human rights abuses and crimes against humanity. Lucy Heartfilia fucked around with this message at 21:54 on Aug 15, 2015 |
# ? Aug 15, 2015 21:49 |
Broken Cog posted:Is withholding wages commonplace in China? If so, how does anything function at all? They get paid something eventually. You just keep their wages way behind their current work so anyone who wants to quit faces abandoning six months of pay. If the employees start making noise about it you call up your buddy Mr Politician to get the local police to come in and knock some heads, or to just look the other way while you have your own goons do it. At least that's how it worked in the US before we started enforcing laws against such abuses. I imagine that it works the same in China, perhaps with some minor tweaks.
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# ? Aug 15, 2015 22:13 |
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Shifty Pony posted:They get paid something eventually. You just keep their wages way behind their current work so anyone who wants to quit faces abandoning six months of pay. If the employees start making noise about it you call up your buddy Mr Politician to get the local police to come in and knock some heads, or to just look the other way while you have your own goons do it. I can't believe that poo poo works in a jab market where the workers have other options. I heard the labor market in China favors workers.
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# ? Aug 15, 2015 22:22 |
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Vladimir Putin posted:I can't believe that poo poo works in a jab market where the workers have other options. I heard the labor market in China favors workers. I'm guessing it depends on what those workers do. Probably wouldn't happen to doctor Zhang or programmer Chen.
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# ? Aug 15, 2015 22:34 |
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Read up on work conditions at Tesla, SpaceX, Amazon and some of the other big brand engineering shops.
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# ? Aug 15, 2015 23:35 |
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Vladimir Putin posted:I can't believe that poo poo works in a jab market where the workers have other options. I heard the labor market in China favors workers. Since when does the law mean anything in China?
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# ? Aug 16, 2015 00:02 |
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Muffiner posted:Read up on work conditions at Tesla, SpaceX, Amazon and some of the other big brand engineering shops. Yeah they get paid in stock too it's really hosed up.
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# ? Aug 16, 2015 00:06 |
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Getting paid in stock is really cool if you work for a successful company.
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# ? Aug 16, 2015 01:12 |
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It's super cool for the company too as it eliminates a huge part of their expenses and frees up operating capital to pay higher monetary salaries to top level managers while leaving the compensation of their employees entirely down to the vagaries of the market. Oh that new product launch by an unrelated team was a high profile failure for an otherwise successful company? Looks like you just got a 5% pay cut. Of course it's perfectly valid if that's an option the employee wants to go with but when it becomes a standard business practice poo poo is hosed.
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# ? Aug 16, 2015 09:38 |
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quote:Did China free the RMB to market forces? Yes and no. China is allowing the market to influence the RMB price that the PBOC announces every morning but the PBOC still retains ultimate authority over the official trading price. The PBOC will take into account the actual trading price of the RMB from the previous end of day when setting the new official price. The gives the market influence in setting the new price but the PBOC retains ultimate authority. Think of this as China’s Solomon like attempt to allow the market influence while also limiting its influence. There are three specific issues of notes. First, this is Beijing’s way of having its cake and eating it too. It can say it is increasing market influence while maintaining ultimate control. Second, while the PBOC does appear to set the daily price based upon the previous days trading price, it is also intervening in the market to influence the near end of day price. Third, interestingly, the PBOC appears to be setting the price with a clear nod towards the offshore market which has been priced at an even larger discount than the onshore rate. This would appear to recognize the importance of the global market for RMB or Beijing’s willingness to allow the RMB to sink lower, probably both. In short, Beijing and its critics can both claim that it is brining the RMB closer to the market and maintaining tight control. http://www.baldingsworld.com/2015/08/14/end-of-week-thoughts-on-a-big-week/
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# ? Aug 16, 2015 15:12 |
Jazerus fucked around with this message at 15:54 on Aug 16, 2015 |
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# ? Aug 16, 2015 15:51 |
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http://www.ft.com/intl/cms/s/3/984a9644-41ce-11e5-9abe-5b335da3a90e.htmlquote:It may just have been bad timing. China’s announcement of a looser renminbi peg came only a few days after a downbeat report on exports. So when the renminbi news hit, there was a common shocked response: China’s economy must be much weaker than we thought.
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# ? Aug 16, 2015 17:03 |
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Yeah, the data mentioned in the article is why I've been saying for the past year that real growth in China is at best flat. If that's the case, though, it has to be said that it's fairly impressive how long the government managed to hide that fact.
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# ? Aug 17, 2015 10:46 |
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Hk economic journal: I do like reading their analysis and the news is not as heavy handed as SCMP.http://www.ejinsight.com/20150817-why-renminbi-devaluation-is-a-one-off-move/ posted:From an economic viewpoint, the renminbi will be excessively strong if it appreciates along with the US dollar. Think the economist recently was saying that there won't be a currency price war as the measures are temporary.
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# ? Aug 18, 2015 04:35 |
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It's happening again. http://www.businessinsider.com/chinas-stock-market-crash-just-started-up-again-2015-8 Live footage from Shanghai: https://www.youtube.com/watch?v=m_ZWR7MSlAg
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# ? Aug 18, 2015 21:39 |
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The Majority Report with Sam Seder: 8/18/15 Ann Lee: The Myth of China’s Economic Crisis https://overcast.fm/+-YV4hAbY Good for a laugh, Ann Lee loves China. Seder doesn't challenge her.
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# ? Aug 19, 2015 00:03 |
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Don't worry, innovation will save China! http://www.washingtonpost.com/news/...entific-papers/ tl;dr most papers pulled due to hiring chinese clearing houses to pass the peer review stage
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# ? Aug 19, 2015 07:47 |
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# ? May 27, 2024 02:05 |
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My Imaginary GF posted:Don't worry, innovation will save China! This is just the tip of the proverbial iceberg.
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# ? Aug 19, 2015 13:56 |