The China Thread

[Admiral Yi]

MAH TENCENT SHARES 

[Josquius]

Its funny/sad, I remember just last week watching a video about the rise of China's gaming industry. Genshin Impact is raking it in.
Yes, they're rolling out trash gatcha and pay to win games. But thats the way of the industry at the moment.

[Syt]

Its funny/sad, I remember just last week watching a video about the rise of China's gaming industry. Genshin Impact is raking it in.
Yes, they're rolling out trash gatcha and pay to win games. But thats the way of the industry at the moment.

Westerners can still drop all their money into those games, though.

[Syt]

PC Gamer has some more info, I esp. found this ... interesting:

https://www.pcgamer.com/uk/china-really-doesnt-want-young-people-to-play-online-games/

More recently, Tencent announced its own tighter limits on gaming for minors, although it didn't go as far as the new government regulations. In August it reduced allowable play time from 90 minutes per day to 60 through the week and three hours to two on weekends and holidays. It also boosted its facial recognition checks to an "all-day inspection" system requiring re-authentication from all suspicious accounts in order to crack down on minors who have managed to circumvent the system, and banned online gaming for anyone under 12 altogether.

[Josquius]

Its funny/sad, I remember just last week watching a video about the rise of China's gaming industry. Genshin Impact is raking it in.
Yes, they're rolling out trash gatcha and pay to win games. But thats the way of the industry at the moment.

Westerners can still drop all their money into those games, though.

True. But you need local talent to make them, and playing the games is a big source of recruitment.
Getting big opium war vibes here out of the concept of China making and exporting this crap but not playing it

[garbon]

"This is so fierce that I'm utterly speechless," said one comment that received over 700 likes.

[The Brain]

"This is so fierce that I'm utterly speechless," said one comment that received over 700 likes.

Tyra?

[Eddie Teach]

Time for a resurgence of systems unconnected from the internet.

[Tamas]

I don't think this more strict approach (seemingly at every part of life by now) will work out for Winnie and co.

People will let you get away with a lot of shit as long as they feel like their immediate life is untouched and left alone (the fact that they are usually wrong about it even then, is beside the point). Start making their everyday lives miserable and they will start removing their consent to being treated like sheep.

[Sheilbh]

Other interesting thing is that he's been talking a lot about the need for billionaires and rich companies to "repay society" and I think the "third distribution" of wealth to achieve "common prosperity". Basically they want to "reasonably adjust excessive incomes and encourage high-income people and companies to pay back more to society". From my understanding third distribution basically means large-scale charitable giving/philanthropy.

Almost immediately TenCent announced they were putting aside about $8 billion for their "common prspoerity" program - no doubt to avoid too many questions from the state about what they're doing for "common prosperity".

So yeah I think between crackdowns on tech that's perceived as out of control, as earning too much, or possible social risks (fan culture, gaming) - I would probably avoid Chinese tech shares (maybe all Chinese shares) for a while.

[Jacob]

Cultural Revolution 2.0

[Jacob]

I don't think this more strict approach (seemingly at every part of life by now) will work out for Winnie and co.

People will let you get away with a lot of shit as long as they feel like their immediate life is untouched and left alone (the fact that they are usually wrong about it even then, is beside the point). Start making their everyday lives miserable and they will start removing their consent to being treated like sheep.

I agree with the larger point, but I doubt gaming is going to have much of an impact on that either way.

I do wonder if the "social distribution" is intended to in make life less hardscrabble for the average Chinese (as opposed to just taking wealth from the rich and redistributing them Xi-loyal apparatchiks and organizations). It's generally agreed - I think - that the massive economic growth and increase in standard of living of the Chinese population over the last handful of decades has been slowing down significantly. Maybe "social distribution" is an attempt to soften the impact of that.

[Josquius]

With the whole 'lying down movement' and other general unrest amongst the young it does seem to be completely disregarding the long term to attack games.

[Tamas]

I do wonder if the "social distribution" is intended to in make life less hardscrabble for the average Chinese (as opposed to just taking wealth from the rich and redistributing them Xi-loyal apparatchiks and organizations). It's generally agreed - I think - that the massive economic growth and increase in standard of living of the Chinese population over the last handful of decades has been slowing down significantly. Maybe "social distribution" is an attempt to soften the impact of that.

Unless evidence to the contrary I'd assume the whole crackdown on the rich thing is a powerplay. Everyone with wealth (and thus power) not personally owed to Xi is a potential risk.

[Jacob]

Unless evidence to the contrary I'd assume the whole crackdown on the rich thing is a powerplay. Everyone with wealth (and thus power) not personally owed to Xi is a potential risk.

Yeah that's my starting assumption also.