Over the past year China has embarked on the some of the most aggressive regulatory crackdowns we’ve seen in modern times. It started off with the real estate, technology, and private education sectors. President Xi is cracking down on private sector excesses fr his common prosperity agenda and to consolidate the Communist Party’s power. In recent months he’s set his sights on a new target, the gambling hub of Macau. This past December, Macau gambling mogul Alvin Chau was arrested for illegal cross-border and online gambling operation. This recent arrest calls into question whether Beijing will tolerate Macau being the country’s gambling hub.
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Damn, guess my city is bound to be cancelled
Don't need to go Macau and gamble. We have now the entire crypto market for everyone to speculate on
I wouldn't think the mainland would want it's citizens money leaving the mainland.
1990. The Economist. China's economy has come to a halt.
1996. The Economist. China's economy will face a hard landing
1998. The Economist: China's economy entering a dangerous period of sluggish growth.
1999. Bank of Canada: Likelihood of a hard landing for the Chinese economy.
2000. Chicago Tribune: China currency move nails hard landing risk coffin.
2001. Wilbanks, Smith & Thomas: A hard landing in China.
2002. Westchester University: China Anxiously Seeks a Soft Economic Landing
2003. KWR International: How to find a soft landing if China..
2004. The Economist: The great fall of China?
2005. Nouriel Roubini: The Risk of a Hard Landing in China
2006. International Economy: Can China Achieve a Soft Landing?
2007. TIME: Is China's Economy Overheating? Can China avoid a hard landing?
2008. Forbes: Hard Landing In China?
2009. Fortune: China's hard landing. China must find a way to recover.
2010. Nouriel Roubini: Hard landing coming in China.
2011. Business Insider: A Chinese Hard Landing May Be Closer Than You Think
2012. American Interest: Dismal Economic News from China: A Hard Landing
2013. Zero Hedge: A Hard Landing In China
2014. CNBC: A hard landing in China.
2015. Forbes: Congratulations, You Got Yourself A Chinese Hard Landing ….
2016. The Economist: Hard landing looms for China
2017. National Interest: Is China's Economy Going To Crash?
2020. Economics Explained: The Scary Solution to the Chinese Debt Crisis
2021. Global Economics: Has China's Downfall Started?
2022. Cathie Wood: China’s COLLAPSE Is FAR Worse Than You Think
What if Macau developed something similar to a highspeed trains, but highspeed rocket boats that goes a thousand km or faster? Allowing quick trade or travel with Taiwan, Hong Kong, Vietnam and Philippines. What to do if Macau was its own country?
🔥🔥
0:55 what does villagio mall in qatar had to do with macau 😂
"they dont have the expertise to diversify into new industries"???? this comment makes me laugh out loud. have you been to macau ever? we are way ahead of the curve in tech comparing to major cities. get informed. check the goverment sites and check how easy it is to solve any anything related to public services. go to a casino and check how much TECH is inside it. for each gaming table there are 4 cctvs cameras with motion tracking and ai learning algorithms to track card counting and so on. the sheer engeneering that was used to build some of the casinos here is unique. did you check MORPHEUS building by zaha hadid? I could go on and on . please visit and see for yourself. we do our best here. oh and covid cases: 80 in 40km2 with 650k habitants.
Macau was a Portuguese territory for 500 years not 150…!
Xi is not a president
He is a chairman
China is returning to the poverty of the past. That's the only way communism works. That's how it works in Venezuela, Cuba and North Korea.
Personally don't think gambling is a great idea – yes maybe the odd flutter once in a while.
There seems to be more adult 'arcades' with slot machines down high street of deprived/ working class towns etc.
There's a private individual in the new here whos company paid the CEO £421m (she own the company) … Alas This salary is made of course from the misery of others.
Chairman Xi is really pissing off a lot of rich folks in China. I don't know about how things work in China, but in the USA, Europe, and Latin America….even a president does not get away with destroying the interests of the rich. Its usually suicide wherever and whenever its been tried.
3:34 Gambling is not completely illegal in the mainland of the PRC. They have lotteries, and lotteries are gambling. Unless you want to use mental gymnastics to argue lotteries are not gambling.
Google steal my name account password give to Macau China Macau Selena must pay me off total amount due is thousands of dollars $360 billion trillion dollars America and big families must be …. death
Just dont shut down the saunas 😔
I use to love to visit Macau. I've visited Macau several times over the last 15 years. However, the city has changed over the years. The Golden age of Macau appears to be over. The people are still nice and friendly, but the atmosphere of the city has definitely changed.
I went to Macau in 1989, and my biggest mental image was the sight of a magnificent state of the art casino standing next to a garbage dump.
150 years was Hong Kong !!! Macau was Portuguese since 1557!!! Please use google better 😡
A lot of SunCity's employees went missing some years ago. They disappeared while in China. This can easily be searched for the full story using "Sun City Workers".
No you're sucking to the CCP. it's not that their economy is weak. It is that CCP isn't good for free markets
Communist China impresses me on certain things.
Portugal didn't just hold Macau for 150 years, they settled in this city since 1550s.
Another excellent episode. Thankyou.
Btw for the Record Both Macau e HK Have Lost thier Title as a "Special Administrative Region" Macau since 2008/09 Oficially in 2021 and HK since 2020
the more you restrict it , the more they want it
People who have worked under Alvin actually attested he is quite a good boss to employees
The problem with Macao like everywhere to do with gambling is money laundering issue
In Finland gambling is run by a state-owned monopoly. The company runs one small casino, smaller gambling rooms, and slot machines. Their income is split by law between 3 government ministries, which at least in theory use the money for projects for public good. In reality the system is far from perfect. 5-7% of players generate 50% of all revenue, and there has been several scandals related to misallocation of funds, questionable incentives for the company's management, and politicians sitting on the company's Board of Directors. So yeah, for the government gambling is a very difficult question indeed. You want as few people as possible doing it, and yet you don't want it completely banned because taxing it is highly lucrative.
This seemed slightly biased in some parts. Giving your opinion that it's destructive to families and harmful is your opinion and slightly misleading since a lot of things are. And it's only the slim margin of people who make it such a problem that gives gambling a bad name. Just because you don't like gambling doesn't mean that it shouldn't be legal for me to do, since what I do that doesn't affect you, is none of your business. If I want to lose my money, I don't need you telling me I can't in a casino, but it's OK with. Liberal arts degree
money laundering. money out if china into American macau casinos and then sent out to America.
That sounds like a Chinese version of "Alien vs. Predator" – "Winnie the Pooh vs. Alvin & the Chip-Munks" (U get it – chips in a casino)