"Attributing all Chinese malware to deliberate or targeted intelligence gathering operations by the Chinese state is wrong and misleading... The most significant actors in cyberspace are not states.... In China, the authorities most likely perceive individual attackers [ie, teenagers in internet cafes] as convenient instruments of national power."
- Fons Tuinstra
"In Hong Kong, wealthy mainlanders are turning up at jewelry stores in growing numbers seeking diamonds, big ones. “They’re looking for five-carat diamond rings and six-carat diamond earrings — three carats for each ear,” said Yollanda Lam, the marketing manager for the King Fook jewelry store chain here. Together, these trends represent a potentially tectonic shift. At the same time that Chinese citizens are starting to send more money out of the country, foreign investors are pulling money out too, and slowing the pace of new investment. “There is a recognition for sure that China is slowing down, so why keep your money there?” said Henry Lee, a Hong Kong fund manager. Most troubling for China would be if these disparate streams represented capital flight — people taking their money out because they worry about the stability of the country."
- Ana
from Bookmarklet
Ana: Disagree that this may turn into capital flight. Instead, more likely first steps out of country where investment opps were mainly equity and RE. Very likely this will turn into RE purchases in US and other countries once those markets bottom out. This is result of China's banks not facilitating loans for private sector in China.
- Paul Denlinger
Come on. There is a difference between capital flight and Chinese buying diamonds (whether it is in HK, Amsterdam or Antwerp. It is a nice story, but very little substance. Money is flowing into and out China in pretty large amounts and controling it is tough. I do not buy this story.
- Fons Tuinstra