happyhoix
Distinguished Associate
Joined: Oct 7, 2011 7:22:42 GMT -5
Posts: 20,856
|
Post by happyhoix on Nov 19, 2019 9:04:51 GMT -5
I don't understand China. I know it's communist, but they have billionaires. And when those billionaire's misbehave, the court can ban them from doing "fun billionaire" things.
Wang Sicong, the only son of a Chinese real estate mogul and heir to around 12.5 billion can't travel first class, can't buy property, can't stay in luxury hotels, go on vacations, play golf or go to nightclubs. This part of the Chinese 'social credit' system, which monitors the behavior of all it's citizens, and punishes people for things like not paying a fine, jaywalking, loitering or not picking up after your dog, which is part of a new massive security camera network that will soon be able to monitor all it's citizens.
So Wang didn't do anything criminal, I guess, but he had a person debt of about 21.6 million, and I guess you're not allowed to have so much debt?
www.businessinsider.com/wang-sicong-chinese-billionaire-real-estate-heir-bans-2019-11
So in China's version of communism, you can accumulate a bunch of money, but you need to make sure you don't live a high end billionaire lifestyle? Interesting.
|
|
Tennesseer
Member Emeritus
Joined: Dec 20, 2010 21:58:42 GMT -5
Posts: 63,355
|
Post by Tennesseer on Nov 19, 2019 9:10:44 GMT -5
I read about this the other day.
I don't think China has a problem with people making money. They have a problem with citizens flaunting it. Disturbs the masses and could cause social problems.
Also probably a cultural thing-keep a low profile.
|
|
obelisk
Familiar Member
Joined: Nov 12, 2014 14:49:16 GMT -5
Posts: 555
|
Post by obelisk on Nov 19, 2019 10:58:50 GMT -5
The Chinese government wants Wang to pay off his personal debt first before posturing on social media regarding his lavish lifestyle. He is just another entitled ahole.
|
|
tskeeter
Junior Associate
Joined: Mar 20, 2011 19:37:45 GMT -5
Posts: 6,831
|
Post by tskeeter on Nov 19, 2019 11:55:40 GMT -5
I don't understand China. I know it's communist, but they have billionaires. And when those billionaire's misbehave, the court can ban them from doing "fun billionaire" things.
Wang Sicong, the only son of a Chinese real estate mogul and heir to around 12.5 billion can't travel first class, can't buy property, can't stay in luxury hotels, go on vacations, play golf or go to nightclubs. This part of the Chinese 'social credit' system, which monitors the behavior of all it's citizens, and punishes people for things like not paying a fine, jaywalking, loitering or not picking up after your dog, which is part of a new massive security camera network that will soon be able to monitor all it's citizens.
So Wang didn't do anything criminal, I guess, but he had a person debt of about 21.6 million, and I guess you're not allowed to have so much debt?
www.businessinsider.com/wang-sicong-chinese-billionaire-real-estate-heir-bans-2019-11
So in China's version of communism, you can accumulate a bunch of money, but you need to make sure you don't live a high end billionaire lifestyle? Interesting. Another consideration might stem from the deep involvement of the Chinese government in Chinese businesses. As a neighbor who has decades of experience dealing with businesses in China tells it, the Chinese government owns half of every business in China. I would expect that most of Wang’s debt is owed to Chinese businesses. Making the Chinese government Wang’s single largest creditor. Are the limitations in part to protect the financial interests of the government?
|
|
happyhoix
Distinguished Associate
Joined: Oct 7, 2011 7:22:42 GMT -5
Posts: 20,856
|
Post by happyhoix on Nov 19, 2019 12:40:47 GMT -5
I think what bothers me is the idea that government will monitor all it's citizens and rate everyone on how well they conform to societal expectations like picking up after your dog. I think in that society, conformity with the group is very important. In our culture, that isn't as important, I don't think. Coming from the US South, where everyone has at least one eccentric relative (and we display them on our front porches) I can imagine our response if Washington announced tomorrow that they would be installing a bunch of CC TV cameras with facial recognition software to monitor who is well behaved and who jaywalks and keeping some list someplace to you can go see how polite and well behaved you are compared to your neighbors. And that Americans would not only agree to this, but think this 'social rating ' is a good way to keep everyone in line. I know a lot of people who would probably make it their life's mission to be on the bottom of the naughty list.
|
|
Tennesseer
Member Emeritus
Joined: Dec 20, 2010 21:58:42 GMT -5
Posts: 63,355
|
Post by Tennesseer on Nov 19, 2019 12:51:23 GMT -5
I think what bothers me is the idea that government will monitor all it's citizens and rate everyone on how well they conform to societal expectations like picking up after your dog. I think in that society, conformity with the group is very important. In our culture, that isn't as important, I don't think. Coming from the US South, where everyone has at least one eccentric relative (and we display them on our front porches) I can imagine our response if Washington announced tomorrow that they would be installing a bunch of CC TV cameras with facial recognition software to monitor who is well behaved and who jaywalks and keeping some list someplace to you can go see how polite and well behaved you are compared to your neighbors. And that Americans would not only agree to this, but think this 'social rating ' is a good way to keep everyone in line. I know a lot of people who would probably make it their life's mission to be on the bottom of the naughty list.
A somewhat similar case as the subject in the OP. She ran afoul of the state: Fan Bingbing reappears in public for the first time in almost a year
|
|
weltschmerz
Community Leader
Joined: Jul 25, 2011 13:37:39 GMT -5
Posts: 38,962
|
Post by weltschmerz on Nov 19, 2019 13:51:28 GMT -5
|
|