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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (598)	1/7/2018 12:14:07 AM
From: elmatador	Respond to of 13775

In the past people used Travelers Check and credit cards. Then moved to debit cards. Today it is fintech. Huge group of Chinese work abroad but are paid in RMB at home. They go on fixed term contracts. At the end of the contract they return to China. Or if extended , they return for long holidays and then sign a fresh deal. They get accommodation, transport and food provided by the company as well as health insurance. During their contract duration, when they need pocket money the accountant lends local currency and it is deducted in their salaries in China. Of course their goal is to save as much as they can to max out monetization of their time abroad. Like any young people. Note that young people need females and females come at a high price in China. A Taiwanese lady friend of mine wants me to help her. The idea is to establish the connectivity for the Chinese working abroad, travelling for tourism. The Chinese who come out with half dozen debit and credit cards are not these above. They made millions in China and want to convert these RMB into FOREX. They need partner abroad to serve as conduit. These Chinese living abroad and clever guys are the ones that select properties for them to buy and are trusted to execute the deals for them. If the guy serving as conduit abroad screws up the investor in China will visit his family back in China at 2AM to "discuss" the matters... As you know the Chinese use the local solutions of everything that the west has: Thus they have their fintech platforms and instant messaging. Obviously these want to grab a share of the money moving around. I am watching that space...

To: Elroy Jetson who wrote (598)	1/7/2018 12:25:34 AM
From: elmatador	Read Replies (1) \| Respond to of 13775

Compare the Chinese case below with how Westerners did: The westerners were not as hungry and willing (besides being much more informed and knew foreign languages) to work abroad as the Chinese. They needed higher incentives. They contracts were shorter. They could bring families. The accommodations were better. They gone on holidays more often. And they spent more money in the country they were in. They got a local salary and complied with the labor and tax laws. The Chinese use different deals. Give you a real example from Angola: One African friend of the government knows about a big project. He auctions these projects to the Chinese construction companies to highest bid. The one that pays the highest % take the project. Knowing that since 2008 when the Chinese decade ended the Chinese construction companies did not have work in China, there were many construction companies eager to get into a deal with the amigo of the government I mentioned above. Of course that 2% came from the salaries of the workers that went to Angola. Give you another case. Huawei Angola was caught in the net of the anti-corruption efforts of Huawei to stump corruption activities. One construction company wanting fiber works complained at the HQ that the local Huawei Chinese were asking for a % in order to give them work. "Astute" as you know... The contracts were awarded not based on best price but based on who paid the highest % of kickbacks. They made a deep investigating an fired people to clean up Huawei Angola.