主题：国债负利率的日本，越借钱政府赚得越多，当然不怕花钱 -- forger

1.

chairman X

2 economics + 1 domestic politics+ 1(international & domestic) politics

標準的中共老一套办法, 紅二代 fxxks 官二代(周, possibly WEN, if X has to, he will do it), basicall a mini cultural revolution, play 民心 game.

once 民心 is under control, X will push for 农用地流转 as the new GDP driver, while deleveraging TG's debt, and 地方政府自行征收房产税 to finance 地方政府's operation.

still, 一代不如一代 very likely, but X dynasty will be ok, china will be ok, and X dynasty >= 10 years

uncle sam is likely not going to mess up with chairman X, uncle sam wants to do business with him, while playing JPY card with him politically & militarily, and possibly blocking china from entering TPP, 老美笑面虎, containing china while slowly sucking money and human capital out of china, but be friendly & polite otherwise, knowing that TG still has the support of Chinese people, likely forever(:);

2.

the new problems X creates while fixing old problems

many, and the top one is 官心 of TG's super powerful political troops.

how is Chairman X going to command his political 官 troops in managing this world's biggest country of 1.5B people?

does chairman X know that his 紅二代 buddies can do nothing other than fxxking around with 郭美美?

those 紅二代 are not capable of managing china, period, then, who is going to managing china's day to day businesses for TG central?

now seeing 周 got fxxked into pieces (damage already done), china's civil 官 folks are going to steal TG's money even more crazily to cover this 周 risk premium, suddenly elevated now;

not only that, the political risk premium of doing business in china is now a lot of higher than ever before, no wonder china's 10 year rate has been up for a while, market has already seen this "term risk" coming?

this is nothing but typical of an authoritarian system: TG's effectiveness and efficiency as a 官办经济 model is not free, now the ugly cost/risk side of it is showing its teeth, bloody.

under an authoritarian system, 非零序参量 is much more harder to model, much more risky, TGchina to pay higher cost of capital.

3.

I would be curious as to guess what is going on now in chairman J's mind: did he miscalculate in hand picking X over Dr L as successor to Hu?

If Dr L were TG's 5th generation chairman, he would be more likely another H, under collective supervising of J, H and all the old 同志 folks.

now, in contrary, this 紅二代 chairman X is basically 噗噗 his ass over the heads of J, H and all the old 同志 folks(:)?

a bad smell in J's mouse already? if yes, too bad, just swallow it, and pay your own bad trade, with money out of your own pocket.