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BRICS to launch independent financial system (vovworld.vn)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 16 points 2 months ago (1 children)

Nobody trusts China’s economic stats.

Except the IMF, World Bank, Moody, Standard and Poor, etc.

Meanwhile, Bitcoin

lol

[+] [email protected] -9 points 2 months ago* (last edited 2 months ago) (2 children)

Except the IMF, World Bank, Moody, Standard and Poor, etc.

They don't trust it, they just have no other figures to work off. China has a long history of faking numbers or suddenly stopping the publishing of numbers when it can make the party look bad. https://www.bloomberg.com/news/articles/2023-08-16/china-is-hiding-more-and-more-data-from-the-rest-of-the-world

lol

Ok, be mad. A 15 year trend of growth on average no matter how you measure it: market cap, number of nodes, transaction volume, transaction capacity, etc. If you have thought Bitcoin was a scam or a bubble about to burst or whatever, you've been wrong 15 years in a row, maybe it's worth reconsidering. Because it's not just crypto bros using or investing in it now, it's national treasures, it's big banks and finance. But you know, on year 16 you'll finally be proven correct, right?

[–] [email protected] 12 points 2 months ago

Oh, well if the billionaire rag says china is lying, it must be true, for sure

[–] [email protected] 9 points 2 months ago

They don’t trust it, they just have no other figures to work off.

That's why they publish it. Not like there are (western adaptations of) the Li Keqiang Index

https://www.bloomberg.com/news/articles/2023-08-16/china-is-hiding-more-and-more-data-from-the-rest-of-the-world

At least have the decency to post the archive link https://archive.md/sgBQK
Youth unemployment in the article:

Calculating the actual employment rate is complex and it’s plausible the government decided the changing nature of the economy and labor patterns means their current model isn’t accurately reflecting reality.

Obtuse way to say that the category 16-24 olds are studying and not part of the labour force

Landsales: Communists don't like speculation with real estate and land. Shocker. Not like they've been announcing a shift away from real estate to EV/Solar Panels/etc.
Currency Reserves, Bond Transactions, Academic Information, Politicians' Biographies:

President Xi Jinping’s ideological battle with the US has also motivated Beijing to ringfence data it believes could advantage the Biden administration.

Based.

A 15 year trend of growth on average no matter how you measure it: market cap, number of nodes, transaction volume, transaction capacity, etc.

If you think that's the critique of bitcoin then you have been blinded by techbros optimizim on the tech. Also it's funny how you wave away bitcoin using up 1% of global electricity usage lol