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China Yuchai International Limited Message Board

  • dionizie dionizie Nov 19, 2005 3:45 PM Flag

    Follow the money to China

    They might not like Bush in the wide world but they sure like American business. He goes to Japan and the news are cramped with American-Japanese friendship, bilateral initiative... so on and so forth. NIKKEI takes off and Japanese ADRs follow accordingly. His next stop is China, and there's a lot to talk about with Chinese, we've been trying to get them to devaluate yuan, which they did just few months back, but they need to do it again and maybe decouple it from the USD entirely. Inflation is creeping up and gold is getting a little too pricey. Anyhow, expect Chinese stock to jump up significantly next week and CYD in particular being that's been shorted to smithereens-under its book value.
    Next in line is Mongolia.

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    • The balance of payments, by definition, is always zero. We are still the leading industrial power in the world. And other countries will continue to buy our debt because there isn't a better alternative.

    • Why doesn't anyone see USA shipwreck? I have written our Senator Dick Lugar asking him not to pass any legislation bailing out PBGC with my tax dollars. Don't ask me to pay pensions for airline pilots. Also Medicare for those who made more than I did. Teachers pensions with huge unfunded liabilities, military pensions (unfunded), police and fire pensions, Federal employees (inccluding his own 100% of pay pension!), and yada yada. This country, States, and municipalities are broke beyond anyone's comprehension. Ask any sober actuary!

    • The whole country is living off borrowed money via the negative balance of payment and Federal debt. We are living off the credit card and the bankers are Japan, China, Europe and just about every country in the world.

      Just a matter of time before they stop financing our debts and then watch out. Greesnpan knows this and is raising interest rates in order to stymie inflation and to encourage those countries with large holdings of dollars to buy our bonds.

      We produce very little and our major industrial power or the big three car companies are going down the tubes.

    • Hong Kong is lucky. They don't have the Fed and Greenspin to mess things up. Thanks for an informative article.

      Here in the USA, the economy goes forward. "Economy goes forward, but leaves many behind," says USA Today.

      But it is a staged economy, not the real thing. The leading actors - Bernanke, Greenspin, et al. - are supported by a cast of thousands, including clowns, freaks, and financial jugglers. Almost all the lines are either fraudulent or facetious. "No child left behind!" "A glut ofsavings!" "Inflation is no problem." But who gets the jokes? Instead, most of the rubes in the audience sit on the edge of their seats, convinced that they are watching a heroic epic rather than a low farce.

    • Hong Kong is lucky. They don't have the Fed and Greenspin to mess things up. Thanks for an informative article.

      Here in the USA, the economy goes forward. "Economy goes forward, but leaves many behind," says USA Today.

      But it is a staged economy, not the real thing. The leading actors - Bernanke, Greenspin, et al. - are supported by a cast of thousands, including clowns, freaks, and financial jugglers. Almost all the lines are either fraudulent or facetious. "No child left behind!" "A glut ofsavings!" "Inflation is no problem." But who gets the jokes? Instead, most of the rubes in the audience sit on the edge of their seats, convinced that they are watching a heroic epic rather than a low farce.

    • no china worked out for them many chinese are consumers of japanese goods, and many japanese are taking advantage of cheap chinese labor for example NIKE...etc...

    • Simple question: Why sin't this dog increasing profits? Why are Chinese companies so unprofitable (with notable exceptions)? I agree with the view that Greenspan and Congress are spending us into oblivion. Our group medical insurance premium notice just arrived and we go up almost $200/mo. starting January, to $1,100! Booze prices are going up. Timber, copper, energy, etc. But is China in our same boat---The Lucitania? They also buy all of this stuff. Meanwhile, look at MXF or EWC. These have more natural resources than they consume. CYD better improve profits fast or I'm GONE!

    • There are also no taxes of any kind on foreign-sourced income. Let's say you live in Hong Kong and have a company in the British Virgin Islands or the US state of Delaware. And let's say that company pays you US$5,000 or $50,000 or more every month. That money can go right into your Hong Kong bank account, and you won't have to pay a dime in Hong Kong taxes.

      There is a schedule of tariffs for imports into Hong Kong. Like any other country, duties vary, depending on the goods. But tariffs are relatively low. What's more, you can import personal goods without paying taxes of any kind. Buy a Rolex in Switzerland, and you can bring it to Hong Kong with no tax. Import your own BMW from Germany; the state gets nothing. Furnish your Hong Kong flat with Country Pine direct from England...no problem, no tax. "No one cares," Andrew says.
      Then there are the many benefits that stem from the fact that Hong Kong has been a global financial hub for decades. English is an official language. The banking and brokerage industry has a long history and was developed largely by the British. The infrastructure overall is on par with any major city in the world.

      Being based in Hong Kong can also make it easier to do business and invest in mainland China. In 2004, for instance, Hong Kong and the mainland signed a Closer Economic Partnership Agreement. Now, if you manufacture in Hong Kong and the goods are stamped "Made in Hong Kong," you can sell your goods in China without paying any tariffs.

      Hong Kong stockbrokers can also give you advice, in English, on mainland and Hong Kong companies. And you can trade those companies -- as well as companies from most other major markets -- from your Hong Kong brokerage account. From Hong Kong you can also access over 30,000 global mutual funds, compared to about only 8,000 in the US.

      Though only 7 million people live here, the stock market is the 9th largest in the world. It has 915 listed companies with a combined market cap of nearly $US 1 trillion, including more than 80 mainland China companies. At the moment, the market also trades at reasonable valuations -- with a P/E of about 14.5 and an average dividend yield of 3.1%.

    • Comments
      --------------------------------------------------------------------------------

      Monday, November 21, 2005 - Vol. 7 No. 234
      In This Issue:
      * COMMENT: Report from the World's Freest Economy - Hong Kong?
      * OFFSHORE: Home Again in the USA
      Offshore Banking, Business & Investment Opportunities in the World�s Freest Economy


      As our Sovereign Society Far East Investment Tour ends, JUSTIN FORD , publisher, editor and writer of newsletters on global investment, including China, gives us his final thoughts. Justin recently debuted his book Seeds of Wealth in Japan, then traveled with us on our tour in China, which ended yesterday in Hong Kong.

      Eight years ago, Hong Kong reverted to life under Chinese sovereignty. Yet, as I wrote on in Friday's A-Letter , Hong Kong still operates largely independently in financial, economic and legal matters. To me, it seems to be the same Hong Kong I saw shortly before the 1997 hand over, except it's even more international, more developed and busier. But don't just take my word for it...

      Every year for the last eight years, the conservative Heritage Foundation in Washington, DC, has rated Hong Kong the freest economy in the world. The Cato Institute, the leading libertarian research group, has rated it number one in economic freedom for the last nine years. And Hong Kong consistently ranks at or near the top of everyone's lists of free market economics around the globe.

      Why? Here's an overview, as provided yesterday by Andrew Wong of China Global Capital: Hong Kong has low taxes and a simple, predictable tax regime. The top corporate tax rate is just 17.5%. The top personal income tax rate is 15.5%. A personal income tax return is just two pages. No stacks of booklets necessary to make sense of it all.

      Capital gains are tax free in Hong Kong. Double your money on a stock, pocket the full 100%. Sell an investment property for a million dollar profit, keep it all. There is also no tax on personal dividends or bank interest. There is no VAT or sales tax.

      Setting up a new business is simple. Foreigners who invest are not subject to special regulations or requirements. You can register a company in Hong Kong in an afternoon, open a bank account the same day and have the business operating within a week.

      Doing business internationally is simple. Hong Kong has a free flow of money, goods and information. You can receive currency from abroad and send currency offshore without restriction.

    • Yeah, I know the fed is flooding the economy with dollars. Greenspan has been doing it periodically since he took over, not just since Bush got in. The result is inflation and it should encourage exports. But I still maintain the debt level is just something to be a little careful of, not the end of the world. Debt has to be measured as a percentage of GDP since $8 in debt in an economy with a GDP of $12 is obviously a lot worse than an $8 debt in an economy of $12 trillion. And historically it has been much higher. This chart looks like it is about where it was a year into Clinton's second term (63%), although it was falling then and rising now. It was 66% ten years ago. It was 120% in 1946.

      http://zfacts.com/p/318.html

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