Category: China

“Great job! You’re fired!”: Part 2, You’re fired!

1 December, 2016 (09:00) | Capital markets, China, Finance, Global news, Government, Lou Jiwei, organizational behavior, Politics, Speculation | No comments

By: David A. Smith    [Continued from yesterday’s Part 1.]   As we saw in yesterday’s Part 1, using as source material a Wall Street Journal (November 7, 2016) story coupled with a personal experience from thirty-plus years ago (sepia font), Lou Jiwei had been hand-picked as China’s Finance Minister by none other than Xi […]

“Great job! You’re fired!”: Part 1, Great job!

30 November, 2016 (09:00) | Capital markets, China, Finance, Global news, Government, Lou Jiwei, organizational behavior, Politics, Speculation | No comments

By: David A. Smith   In life there are technocrats and there are politicians, and in political situations the former usually work for the latter – and are fired by the latter where their usefulness is over.  As reported in the Wall Street Journal (November 7, 2016):   BEIJING—China removed its high-profile, reformist finance minister […]

Dissatisfaction guaranteed or your money *not* back: Part 7, A tension point

26 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation |

  By: David A.  Smith   [Continued from the preceding Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6.]   This week’s (somewhat less) plausible apology For last week’s shoddy blogging   That same AHI contract who consumed the week before also consumed the week just completed.  But now, finally, I […]

Dissatisfaction guaranteed or your money *not* back: Part 6, A state of emergency to secure additional funding

19 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation |

  By: David A.  Smith   [Continued from the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.]   This week’s plausible apology For last week’s blogging absence   Just as I was turning back to this blog post, which I have found completely absorbing, a major AHI contract took an unexpected […]

Dissatisfaction guaranteed or your money *not* back: Part 5, Not so much budget as down payment

9 September, 2016 (08:31) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation |

  By: David A.  Smith   [Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.]   Having established that the Olympics are the worst financial performers of any mega-, giga-, or tera-projects (not that any Olympics has yet reached teraproject size, thank goodness), we have to find some features […]