Chinese social network can tap US capital market but American social network can’t tap Chinese consumer market?
July 22, 2011 by Social Marketing Superstar
Filed under social marketing plan
Since 2009, China has blocked Facebook, the world’s largest online social media network. This year, Renren, one of China’s largest social networks, plans to raise $500 million on the New York Stock Exchange (NYX). So a Chinese social network can tap U.S. capital markets, but American social networks can’t tap Chinese consumer markets. Does that sound fair?
Isn’t the authoritarian Chinese government engaging in unfair trade practices?
This has more to do with market sophistication and practical reasons than unfair trade. The Chinese RMB is not a fully convertible world currency like the green back, nor is its investment environment ready for global participation. The legal, accounting, quality control, labor, arbitration, intellectual property, privacy protection aspects in China are still not in conformity with developed countries, not to mention the lack of freedom of speech and rampant corruption. If I were to raise capital, I would not want to do it in China.
http://www.nytimes.com/2011/02/11/business/global/11yuan.html
Regardless of their plan, renren is filtered by CPC-PRC, who would want to trust and invest in CPC-PRC anyway, it’s a waste of time, money, and effort. Just like how Google tried its hands on China, people will soon realize it was a bad deal to start with it in China.
Remember, the american financial institutions have been making billions of dollars from the China’s and south east asian countries’ financial and real estate markets with their FAKE US dollars.
Dont you think the profit is already big enough ? Hey, remember, their capitals are all FAKE !
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The World Trade Organization doesn’t agree with you. If they did, then they would have intervened by now. Both China and America are members of the WTO.
Social networks are the biggest time wasters ever created by mankind. Employers used to complain about workers wasting time playing “solitaire” on their computers. Now workers waste days at a time on Facebook. The obvious and accelerating decline of American society is aggravated by lost productivity due to Facebook.
what do you know, things will only work where they work.
Jiaozi is rampant in China while fried chichen is rampant in America.
China is the last place to make money if you were Mark Zuckerberg.
Perhaps if the CCP allowed their currency to actually rise…