Evan Osnos latest essay on China: “To a degree I’ve rarely encountered, many asked to have their identities disguised”

Highly recommend if you have any interest in China. Below are a few excerpts plus an occasional personal aside: https://www.newyorker.com/magazine/2023/10/30/chinas-age-of-malaise

EXCERPTS:

The embodiment of this reversal is Xi Jinping, the General Secretary and President, who has come to be known among the Party rank and file by a succinct honorific: the Core.

I think about Yeats: Turning and turning in the widening gyre, The falcon cannot hear the falconer…

a leak from a Chinese social-media site last year revealed that it blocks no fewer than five hundred and sixty-four nicknames for him, including Caesar, the Last Emperor, and twenty-one variations of Winnie-the-Pooh.

564 nicknames is a whole lot of cat-and-mouse

China is as formidable as ever: it is the largest trading partner for more than a hundred and twenty countries, it is home to at least eighty per cent of the supply chain for solar panels, and it is the world’s largest maker of electric vehicles

…and I fully expect in 10 years (or earlier), China will have pole position in semiconductors too, regardless of the West’s restrictive efforts

I was surprised how often they spoke about Xi without uttering his name—a single finger flicked upward can suffice—because the subject is at once ubiquitous and unsafe. (To a degree I’ve rarely encountered, many asked to have their identities disguised)

Even standup comics are forced to submit videos of jokes for advance approval

China’s advance approval or the West’s fear of cancellation, sometimes censorship can look like a circle…

At his core, a longtime observer told me, Xi is “Mao with money.”

The most troublesome thing in China is that the open-mindedness—the ability to learn—has come to a halt. For forty years, we learned things, and then people concluded that China was formidable and capable, that the East is rising and the West is declining, that China is already a big boss in the world. And so we stopped learning. But, in reality, we haven’t even established a society with a conscience.

This is a broader psycho-behavioral trait in human beings I think, in that winners get overconfident and soft (good times breed weak men sorta thing), and applies equally to America/Americans, though America’s recent internal struggles with social conflict and political extremism and COVID are leading to a new degree of self-reflection that I think ultimately beneficial

a thirty-one-year-old former factory worker named Luo Huazhong posted a photo of himself in bed, with the caption “Lying flat is my sophistic act,” he said, professing solidarity with the philosopher Diogenes, who is said to have protested the excesses of Athenian aristocrats by living in a barrel

In July, the National Bureau of Statistics revealed that youth unemployment had hit a record high of twenty-one per cent, nearly twice the rate four years earlier. Then the bureau stopped releasing the numbers. Zhang Dandan, an economics professor at Peking University, published an article arguing that the true rate might be as high as forty-six per cent, because she estimated that up to sixteen million young people have temporarily stopped looking for jobs in order to lie flat

I don’t see much of this when I visit big cities like Shanghai; then again, when I visit Tokyo it’s not like I see hikikomori or “grass eaters” either

If they give you your phone at night, everything is going to be O.K.—they just want to talk to you,” he said. “You can WeChat your wife or your mistress.” But, if investigators keep your phone from you, the odds are you are a target, not a source.

Xi is said to have spoken bitterly of watching Boris Yeltsin contend with Russian tycoons in the nineteen-nineties. Joerg Wuttke told me, “When Putin entered the Kremlin in 2000, he assembled the oligarchs and said, basically, You can keep your money, but if you go into politics you’re done.”

But Xi, a Marxist-Leninist at his core, said last fall that state-owned enterprises would “get stronger, do better, and grow bigger.”

I think the American parallel for China’s SOEs is the metastasizing bureaucracy; China SOEs = American federal agencies

ancient expression—“shi, nong, gong, shang”—which describes a hierarchy of social classes: scholar-officials, farmers, craftsmen, and merchants

Hmm…merchants make all the money, and money seems upstream of power in all kinds of modern government systems. And I’m always amused by farmer-virtue-signaling, where Chinese farmers (in the US, replace with “factory worker”) receive superficial respect but are given none of the things that really matter, like financial security or political power.

When the zero-COVID policy was finally abandoned, the following month, the change was so abrupt that at least a million people died in a matter of weeks, according to independent analyses; the state stopped publishing cremation statistics.

Read the full thing and let me know what you think!

The easiest way(s) to make money…

Screenshot 2023-09-12 at 9.17.44 AM

Thought this was brilliant when a friend shared it. It’s all in Chinese so I’ll share my translation and then the original below:

Essentially the video asks, “what’s the easiest way to make money (from different kinds of people)?”

For guys, it’s anything related to sex and lust

For girls, it’s anything related to beauty and looks

For kids, it’s anything related to education

For the elderly, it’s anything related to health

For the poor, it’s anything related to getting rich (quick)

For the rich, it’s anything related to living longer / avoiding death

For the lazy, it’s anything related to sloth and idleness

For pet owners, it’s anything related to spoiling their pets

The original:

什么钱最好赚
男人-好色的钱
女人-爱美的钱
小孩-教育的钱
老人-健康的钱
穷人-暴富的钱
富人-怕死的钱
懒人-惰性的钱
主人-护宠的钱

Chinese cryptocurrency vocabulary list (in progress)

Here is a running list of Mandarin Chinese words and phrases that are loosely related to cryptocurrency and bitcoin (emphasis on loosely, there will be fintech and slang here too).

Once it hits 100+ words, I’ll probably migrate to a public Google doc or some such.

If you’d like to contribute, twitter me or comment below!

*I didn’t include many coin names because you can easily find those on eg, CoinGecko

AI / Artificial Intelligence = 人工智能 = rén gōng zhì néng

altcoin / shitcoin = 山寨币 = shān zhài bì
altcoin / shitcoin = 空气币 = kōng qì bì
altcoin / shitcoin = 垃圾币 = lè sè bì
(mainstream coin / blue chip coin = 主流币 = zhǔ liú bì)

ASIC = 特定功能 IC = tè dìng gōng néng IC

bitcoin = 比特币 = bǐ tè bì

bitcoin cash = 比特现金 = bǐ tè xiàn jīn

blockchain = 区块链 = qū kuài liàn
blockchain technology = 区块链技术 = qū kuài liàn jì shù

block reward = 打包奖励 = dǎ bāo jiǎng lì

compensation plan, reimbursement case = 补偿方案 = bǔ cháng fāng àn

collateral = 抵押品 = dǐ yā pǐn

core developer = Core开发者 = Core kāi fā zhě
core team / founding team = 核心团队 = hé xīn tuán duì

create / find a block = 打个包 = dǎ gè bāo

DAU = 日活 = rì huó
MAU = 月活 = yuè huó

degen = 赌狗 = dǔ gǒu (gamble blindly without thought like a dog, from Dovey)

digital currency = 数字货币 = shù zì huò bì
digital currency = 数位货币 = shù wèi huò bì

digital token = 数字通证 = shù zì tōng zhèng

electronic payment system = 电子现金系统 = diàn zǐ xiàn jīn xì tǒng

encryption = 加密 = jiā mì

ether = 以太币 = yǐ tài bì

Ethereum = 以太坊 = yǐ tài fāng

exchange = 交易所 = jiāo yì suǒ

exchange traded funds = 交易所买卖基金 = jiāo yì suǒ mǎi mài jī jīn

hash rate / hash power = 算力 = suàn lì

liquidity pool = 流动池 = liú dòng chí

litecoin = 莱特币 = lái tè bì

loan = 借款 = jiè kuǎn

mortgage, deposit / down payment = 抵押 = dǐ yā
mortgage = 抵押贷款 = dǐ yā dài kuǎn

margin trading = 融资融券 = róng zī róng quàn

market maker = 做市商 = zuò shì shāng

market making capital = 做市资金 = zuò shì zī jīn

miner = 矿工 = kuàng gōng

mining machines = 矿机 = kuàng jī

MLM, resell = 传销 = chuán xiāo

Pickle Finance / Pickle = 酸黄瓜金融 = suān huáng guā jīn róng [source]

p2p = 点对点 = diǎn duì diǎn

project participants = 项目方 = xiàng mù fāng

project proposals = 项目方案 = xiàng mù fāng àn

pump = 拉盘 = lā pán
dump = 砸盘 = zá pán

repair patch, bug fix = 修补补丁 = xiū bǔ bǔ dīng

rollup = 卷叠 = juǎn dié
optimistic rollup = 乐观卷叠 = lè guān juǎn dié
ZK rollup = 零知卷叠 = líng zhī juǎn dié
*source

Satoshi Nakamoto = 中本聪 = zhōng běn cōng

Series A financing = A轮融资 = A lún róng zī

smart contract = 智能合约 = zhì néng hé yuē

tether = 泰达币 = tài dá bì

time lock = 时间锁 = shí jiān suǒ

transaction fees = 手续费 = shǒu xù fèi

unlock = 解锁 = jiě suǒ

wallet = 钱包 = qián bāo

white paper = 白皮书 = bái pí shū

working capital = 流动资金 = liú dòng zī jīn

some sources

Some inspirational quotes translated from Mandarin Chinese

One of my goals for the remainder of 2020 – and beyond – is to become truly fluent in Mandarin. I’d say I’m somewhere between an HSK5 to HSK6, which is to say, I can chat conversationally just fine, and read at around a middle school level, but put a business presentation or bestselling novel in front of me and I’ll break into a sweat – both literally and figuratively. It would be nice to finally get rid of all that Mandarin anxiety :-)

So for starters, here are some inspirational Chinese quotes from Weibo that I’ve translated for fun:

如果你认识从前的我,那么你就会原谅现在的我。—— 张爱玲
Translation 1: If you understood me then, you would forgive me now.
Translation 2: If you understood who I’ve been, then you’d forgive who I’ve become

无论什么困难的事,只要硬着头皮去做,就闯过去了。—— 林海音
No matter the task, just lower your head and rush right through it.

一个人出生了,人们并不知道他的未来,却说:恭喜恭喜。一个人死去了,人们并不知道死去后的世界却说:可惜可惜。—— 三毛
When a child is born, no one knows his future, yet we say: What good fortune! When a man dies, no one knows where his soul goes, yet we say: What a pity.

你在乎谁,你说了算。谁在乎你,你说了不算,时间说了算。—— 郑执
Translation 1: You control who you care about. Fate controls who cares about you.
Translation 2: Who you care about is up to you. Who cares about you is left to fate.