{"id":13629,"date":"2015-09-06T00:00:00","date_gmt":"2015-09-05T22:00:00","guid":{"rendered":"https:\/\/michelsanti.blog\/2015\/09\/06\/china-will-have-to-go-bankrupt-to-survive\/"},"modified":"2018-10-17T17:43:29","modified_gmt":"2018-10-17T15:43:29","slug":"china-will-have-to-go-bankrupt-to-survive","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive","title":{"rendered":"China will have to go bankrupt to survive!"},"content":{"rendered":"

\"capitalism\"<\/a><\/p>\n

The severe damage that China is currently suffering is not necessarily what it may appear to be. It\u2019s actually these \u201czombie\u201d companies that are degrading the economic fabric of the nation; they are the failing businesses that the Chinese government is nevertheless keeping alive on artificial respirators. The easy money and low prices which have been inundating the system basically favour all sorts of inconsequential ventures, the most cost-effective management, and deficient distribution of resources. Despite this, these companies are still in business right now. Worse still is that they continue to use up resources to produce goods and merchandise at more or less considerable losses. The State and its banks have not stopped making cash injections, or \u2013 at the least \u2013 reallocating or restructuring loans in order to protect employment and the utility of the work being done.<\/p>\n

It is therefore in actively promoting the substandard management of national enterprises that China is purchasing its social order, which is its top priority \u2013 or is it an obsession? This type of support is practised at all levels since the factories that are completely adrift in every province of the country are being kept afloat with the sole aim of replenishing local economies. The Chinese powers that be could take a look at their neighbour, Japan, as an example. Japan spent twenty years crossing the desert of failing-business-maintenance. The (double) \u201clost decade\u201d of Japan, during which the economy stagnated, effectively came about because of this State support of moribund businesses. By following the path of the Japan of the 1990s, China is promoting the infection of its whole system with its own \u201czombie\u201d companies and is sapping the life out of its growth prospects. Paralysed by mass unemployment and the social unrest which would inevitably be the upshot of this, the Communist Party is actively participating in the decay of its economic fabric \u2013 and by doing so is shooting itself in the foot \u2013 by protecting numerous businesses, that have now become parasitic, against bankruptcy.<\/p>\n

China is thus trying to implement the capitalist system, which demands, in contrast to its current practices, that a poorly run business be disposed of. Bankruptcy is in fact the most effective sanction against errors and blunders in the echelons of management; this is how the system cleans itself of management faults, and it is to this day the only method of restoring the ruins of a failing business. China is thus attempting to ignore this fundamental rule: letting a company that is making losses die in order to redistribute more productively the resources that it had previously been monopolising. It is therefore crucial for the future of the economy and the rate of employment that China takes drastic action, and that its debts are removed from production facilities such as factories. Bankruptcy is effectively capitalism\u2019s greatest invention when it comes to restructuring or indeed wiping debts clean, all the while protecting the assets which can then be suitably redistributed.<\/p>\n

Before providing funding and before manipulating its currency, China must urgently pass bills on corporate bankruptcy that would have to come into immediate force against companies held by the State as well as those that are privately owned. This way, bankruptcy smooths over past mistakes and reallocates the inherent assets of any business that happens to go under, which would be to the benefit of all involved. Losses do not affect just the company that suffers them, but also harm the economic fabric of the country and end up impoverishing society. A veritable \u201cright to be forgotten\u201d, bankruptcy is the essential cornerstone of the capitalist system.<\/p>\n","protected":false},"excerpt":{"rendered":"

The severe damage that China is currently suffering is not necessarily what it may appear to be. It\u2019s actually these \u201czombie\u201d companies that are degrading the economic fabric of the nation; they are the failing businesses that the Chinese government is nevertheless keeping alive on artificial respirators. The easy money and low prices which have…<\/p>\n","protected":false},"author":4,"featured_media":13630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648941282,648941287],"tags":[],"class_list":["post-13629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capitalism","category-china"],"yoast_head":"\nChina will have to go bankrupt to survive! - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China will have to go bankrupt to survive! - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"The severe damage that China is currently suffering is not necessarily what it may appear to be. It\u2019s actually these \u201czombie\u201d companies that are degrading the economic fabric of the nation; they are the failing businesses that the Chinese government is nevertheless keeping alive on artificial respirators. The easy money and low prices which have…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive\" \/>\n<meta property=\"og:site_name\" content=\"Michel Santi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/michel.santi.economiste\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-05T22:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-10-17T15:43:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i1.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"595\" \/>\n\t<meta property=\"og:image:height\" content=\"335\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michel Santi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:site\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michel Santi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive\"},\"author\":{\"name\":\"Michel Santi\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"headline\":\"China will have to go bankrupt to survive!\",\"datePublished\":\"2015-09-05T22:00:00+00:00\",\"dateModified\":\"2018-10-17T15:43:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive\"},\"wordCount\":608,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/capitalism1.jpg?fit=595%2C335&ssl=1\",\"articleSection\":[\"capitalism\",\"China\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive\",\"url\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive\",\"name\":\"China will have to go bankrupt to survive! - Michel Santi\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/capitalism1.jpg?fit=595%2C335&ssl=1\",\"datePublished\":\"2015-09-05T22:00:00+00:00\",\"dateModified\":\"2018-10-17T15:43:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/capitalism1.jpg?fit=595%2C335&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/capitalism1.jpg?fit=595%2C335&ssl=1\",\"width\":595,\"height\":335},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/capitalism\\\/china-will-have-to-go-bankrupt-to-survive#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\\\/\\\/michelsanti.fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China will have to go bankrupt to survive!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#website\",\"url\":\"https:\\\/\\\/michelsanti.fr\\\/\",\"name\":\"Michel Santi\",\"description\":\"\\\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\\\", Seneca the Younger\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/michelsanti.fr\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\",\"name\":\"Michel Santi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"caption\":\"Michel Santi\"},\"sameAs\":[\"https:\\\/\\\/michelsanti.fr\\\/\"],\"url\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/author\\\/msanti17\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"China will have to go bankrupt to survive! - Michel Santi","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive","og_locale":"en_US","og_type":"article","og_title":"China will have to go bankrupt to survive! - Michel Santi","og_description":"The severe damage that China is currently suffering is not necessarily what it may appear to be. It\u2019s actually these \u201czombie\u201d companies that are degrading the economic fabric of the nation; they are the failing businesses that the Chinese government is nevertheless keeping alive on artificial respirators. The easy money and low prices which have…","og_url":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive","og_site_name":"Michel Santi","article_publisher":"https:\/\/www.facebook.com\/michel.santi.economiste","article_published_time":"2015-09-05T22:00:00+00:00","article_modified_time":"2018-10-17T15:43:29+00:00","og_image":[{"width":595,"height":335,"url":"https:\/\/i1.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","type":"image\/jpeg"}],"author":"Michel Santi","twitter_card":"summary_large_image","twitter_creator":"@michelsanti1","twitter_site":"@michelsanti1","twitter_misc":{"Written by":"Michel Santi","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#article","isPartOf":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive"},"author":{"name":"Michel Santi","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"headline":"China will have to go bankrupt to survive!","datePublished":"2015-09-05T22:00:00+00:00","dateModified":"2018-10-17T15:43:29+00:00","mainEntityOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive"},"wordCount":608,"commentCount":0,"image":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","articleSection":["capitalism","China"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#respond"]}]},{"@type":"WebPage","@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive","url":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive","name":"China will have to go bankrupt to survive! - Michel Santi","isPartOf":{"@id":"https:\/\/michelsanti.fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#primaryimage"},"image":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","datePublished":"2015-09-05T22:00:00+00:00","dateModified":"2018-10-17T15:43:29+00:00","author":{"@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"breadcrumb":{"@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#primaryimage","url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","contentUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","width":595,"height":335},{"@type":"BreadcrumbList","@id":"https:\/\/michelsanti.fr\/en\/capitalism\/china-will-have-to-go-bankrupt-to-survive#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/michelsanti.fr\/"},{"@type":"ListItem","position":2,"name":"China will have to go bankrupt to survive!"}]},{"@type":"WebSite","@id":"https:\/\/michelsanti.fr\/#website","url":"https:\/\/michelsanti.fr\/","name":"Michel Santi","description":"\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\", Seneca the Younger","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/michelsanti.fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4","name":"Michel Santi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","caption":"Michel Santi"},"sameAs":["https:\/\/michelsanti.fr\/"],"url":"https:\/\/michelsanti.fr\/en\/author\/msanti17"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/capitalism1.jpg?fit=595%2C335&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pagvtB-3xP","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":21589,"url":"https:\/\/michelsanti.fr\/en\/china\/china-at-war-with-spiritual-opium","url_meta":{"origin":13629,"position":0},"title":"China at war with spiritual opium!","author":"Michel Santi","date":"September 14, 2021","format":false,"excerpt":"\u00a0 China has declared war. Against its own technology companies. Since last February, the capitalisations of jewels such as Tencent, Alibaba, Kuaishou Technology and Meituan have lost billions of dollars. The stock index Hang Seng Tech that figures the biggest technology companies in the country has collapsed by 45%. The\u2026","rel":"","context":"In "China"","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/en\/category\/china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/guerre-chine.jpg?fit=1200%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/guerre-chine.jpg?fit=1200%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/guerre-chine.jpg?fit=1200%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/guerre-chine.jpg?fit=1200%2C630&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/guerre-chine.jpg?fit=1200%2C630&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":19469,"url":"https:\/\/michelsanti.fr\/en\/china-2\/china-is-quietly-quaking-in-its-boots","url_meta":{"origin":13629,"position":1},"title":"China is quietly quaking in its boots","author":"Michel Santi","date":"June 5, 2019","format":false,"excerpt":"\u00a0 Is China on the brink of a crisis similar to the one suffered last year by Argentina, due to a defective balance of payments? In such a situation, China would see itself short on dollars, unable to support its own currency! As for many other sovereign nations, the Yuan\u2026","rel":"","context":"In "China"","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/category\/china-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/06\/tigre-de-papier.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":19426,"url":"https:\/\/michelsanti.fr\/en\/capitalism-2\/the-zombies-of-capitalism","url_meta":{"origin":13629,"position":2},"title":"The zombies of capitalism","author":"Michel Santi","date":"May 9, 2019","format":false,"excerpt":"The policy of zero interest rates was crucial in avoiding total financial collapse following the subprime crisis, the credit crunch, and Europe\u2019s sovereign debt psychodrama, just as it will play a major role over the next few episodes of stock market crashes and exacerbated volatility that hurts the real economy.\u2026","rel":"","context":"In "capitalism"","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/category\/capitalism-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/05\/zombie-300x169.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":19732,"url":"https:\/\/michelsanti.fr\/en\/bubble\/negative-rates-an-economic-curse","url_meta":{"origin":13629,"position":3},"title":"Negative rates: an economic curse?","author":"Michel Santi","date":"November 6, 2019","format":false,"excerpt":"\u00a0 Companies that don\u2019t pay interests on their debt are a like these students who never sit an exam: they somehow scrape by without any notable successes or accomplishments. The current level of rates should be encouraging investment because companies\u2019 margins are much higher than the cost of capital, that\u2026","rel":"","context":"In "bubble"","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/11\/merlin.jpg?fit=442%2C343&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13776,"url":"https:\/\/michelsanti.fr\/en\/stock-market\/where-have-the-companies-of-yesteryear-gone","url_meta":{"origin":13629,"position":4},"title":"Where have the companies of yesteryear gone?","author":"Michel Santi","date":"November 15, 2017","format":false,"excerpt":"Do stock markets still play their traditional role in the economy? Subsidiary question: do businesses make use of stock markets to fund and invest in improvements to their productivity? The response to these two questions must be negative since the shareholders of yesterday have now simply become speculators! Whereas conventional\u2026","rel":"","context":"In "stock market"","block_context":{"text":"stock market","link":"https:\/\/michelsanti.fr\/en\/category\/stock-market"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21653,"url":"https:\/\/michelsanti.fr\/en\/china\/colonizing-by-lending","url_meta":{"origin":13629,"position":5},"title":"Colonizing by Lending","author":"Michel Santi","date":"October 14, 2021","format":false,"excerpt":"\u00a0 Colonisation is no longer what it once was. Actually, it just doesn\u2019t use the same means anymore. Nowadays, to colonise, you lend, and that\u2019s how you enslave. Over history, the debtor\u2019s inability to pay has been used as an excuse to engage armies, like the British invasion of Egypt\u2026","rel":"","context":"In "China"","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/en\/category\/china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/10\/afrique-chine-colonisation.jpg?fit=1200%2C625&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/10\/afrique-chine-colonisation.jpg?fit=1200%2C625&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/10\/afrique-chine-colonisation.jpg?fit=1200%2C625&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/10\/afrique-chine-colonisation.jpg?fit=1200%2C625&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/10\/afrique-chine-colonisation.jpg?fit=1200%2C625&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/13629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=13629"}],"version-history":[{"count":0,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/13629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/13630"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=13629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=13629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=13629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}