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3 comments

[–] smallpond 1 points (+1|-0)

I hope this catches on. I've never agreed with limited liability.

[–] CDanger 2 points (+2|-0) Edited

Like most things, it has it's advantages and disadvantages.

Somehow I think developed liberal democracies are more likely to adopt the surveillance state and totalitarian control aspects from China and apply those to its citizens without any of the confiscatory policies that China uses against its billionaires. At that point, I'm not sure how they'll be able to claim any kind of moral high ground, but undoubtedly the media will pump out some propaganda shit about how we're so free. Would be funny if it weren't so sad.

[–] jobes [OP] 1 points (+1|-0)

In a new twist of how China may soon conduct corporate bankruptcies, Chinese authorities told Hui Ka Yan to use his personal wealth to "alleviate" China Evergrande Group’s deepening debt crisis, Bloomberg reported

I'm still surprised after the last few months how Beijing hasn't bailed them out. In the US that would be a taxpayer bailout + golden parachute. It is an interesting concept having billionaires bail out their own companies, but that would likely crash other markets as his remaining billions are tied up in electric vehicles and bottled water.