乐生活Let’s talk about finance.
The severity of financial repression, the lack of financial depth and the difficulty of financial innovation in China are almost an impasse that can not be promoted under the current level of the rule of law in the whole society. Big top-level designs are getting tired of criticism. Microstructurally, a simple variety of bonds or exchange options can not be demonstrated for 20 years, let alone standardized off-site financial products.
Strongly regulated financial markets are dying. At all times, we are worried about arbitrage and mismatch. Arbitrage peat ah, mismatched your uncle ah, no arbitrage good matching all drink northwest wind choke?
Another non-regulated financial market is good. It is completely free from self-imposed fraud and robbery. Fraud is rampant and the stock lottery is abundant, all of which can cheat. A group of bad Internet finance, p2p, equity investment funds and any unarmed bottom families can cheat.
So when some students talk about such inspirational stories as big short, I will not tell them that we do not have such financial products with asymmetric risk-return. If we want to make such an inspirational dream, we should first go to Jin Wenhui or CSRC to become the leader to launch such products. Otherwise, you can only gamble in the unregulated financial market. Maybe you will succeed or fail, but it will probably disappear.
I’m also disappointed. It’s really disappointing.
In this financial market, as a 80-year-old, how affectionately watched, unfortunately, is only a generation of boiled white-headed Palace women.
After the breakdown of affection. Inevitably repeated questioning, what is it? Why? Why? Why? Why?…
Why on earth do we have such a beacon nation’s heart, but we just can’t escape the life of East Asian society?
The reason is simple. Really? It’s desperately simple.
Because our rule of law construction is too poor and our infrastructure is too weak, the bottom ethical foundation and spirit of the cooperation, competition and cooperation system involving large-scale population can not be formed. Public cooperation, contracts, trust, boundaries of the whole society… These sound big and empty cultural and spiritual core, no!
What does it look like? Just like a person without core strength, if he wants to speed up a long run with brute force, he will only injure his knee, destroy his joints, and then cause spinal injury.
Are we not disappointed?
Are you not disappointed after 60, 70 and 80?
We have all worked hard for competition, for profit, for a better future.
Then, do we strive for a better future?
