.@DeutscheWelle has awarded its 12th Freedom of Speech Award to #HongKong#PoliticalPrisoner Jimmy Lai, who "has stood unwaveringly for #PressFreedom in HK at great personal risk, even as space for independent journalism became increasingly limited." https://t.co/XRMDyaITWf
Pls join @sarah_wu_@JNBPage and me in this conversation about the challenges and fun (?) of covering China on Friday, May 8. 欢迎5月8日来亚洲协会参加我和《经济学人》的Sarah Wu、裴杰关于在这个时代如何报道中国的讨论。报名链接 https://t.co/hBOCvIdQOV
Ok know why banks and financial regulators are “disaster area” for corruption? Because they are asked to allocate massive amounts of loans in an inefficient manner which leaves room for rent seeking. If they are always asked to allocate loans to the safer and profitable borrowers, audits would catch them much sooner. Internal financial regulations (600 pages each yr even 20 yrs ago) are mainly about granting exceptions to firms which are “policy priorities.” Back then it was industrial SOEs, then it was LGFVs and properties; now it’s tech related firms