China’s Low-Bid Scams Expose Shoddy Projects:Global Action Against China's High-Speed Rail, EV Fraud
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- Опубліковано 9 тра 2024
- In recent years, Chinese companies have frequently won bids in overseas markets with a low-price competitive strategy. However, as the international community scrutizes this economic model, Chinese opportunism is backfiring.
Taking the bidding for the Bulgarian high-speed rail project as an example, China's CRRC Qingdao Sifang Company, a subsidiary of China Railway Rolling Stock Corporation (CRRC), far underbid its competitors. An EU investigation found that the Chinese government provided CRRC with a subsidy of up to 1.75 billion euros, which is 2.9 times the total amount of the Bulgarian high-speed rail project, 610 million euros. CRRC Qingdao Sifang ultimately chose to withdraw from the bidding, avoiding potentially hefty fines and embarrassment.
#chinaobserver
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Let’s be honest, the countries accepting these bids need to take some blame as well. “If it’s too good to be true, it probably is. “.
The officials who signed the agreements took money. It's that simple
Because officials were corrupted
Exactly 😀
Just look at what happens in Ari Lanka, Djibouti, Malaysia, Pakistan etc .. all have debt trapped
yeah, china is a blight where it steps but if they frontload a bunch of money, whoever is in charge of letting them in will turn a blind eye
They built a bridge in Norway and we had to change bolts bc of low grade steel at the cost of 3 mill nok 300.000 $
Yea fuck my leaders that made that happen, Norway needs to do better
I don’t understand the Chinese logic. They’re so self conscious about their image. They’ll do and say anything to save face except do things honestly and correctly. Do they actually believe they’d ever be hired for these jobs ever again?
@@Kunfucious577the name of the game is get rich fast and immigrate to USA. All they need is one big project to get out of the country
CCP is morally bankrupt. Chinese people deserve better governance and leadership. Xi Jinping is reviving Mao era of cultural revolution which destroyed ancient Chinese culture based on Confucianism, Buddhism and Taoism. Relics of rich ancient Chinese culture were destroyed in mainland China. Fortunately, the nationalist moved some remnants to Taiwan. So, Taiwan, IMHO is better positioned to represent the real China to the world! #CCPDaysAreNumbered
I'd say that the name of the game is the ultimate one- POWER
@@vueport99more and more Chinese are coming through the Mexican border so many are not waiting around. Plus the CCP has taken full control of all companies and is the root problem. I believe if Chinas markets had stayed open for longer than eventually CCP would have been replaced. The way things are now the CCP is on a very dark path and will likely collapse.
China's low bid means substandard quality!
LoL better than Boeing?
@@MSDGroup-ez6zk
that, Sir was CRUEL.💥😜
@@MSDGroup-ez6zk but yet the premiere of China has more trust on a 747 what's an irony.
@@haf2567 is good isn't as when those went for repair and maintenance, China can reverse engineering all those Boeing?
I remember the times in Chicago where the top 10% and bottom 10% were automatically disqualified. The top ones for simply being too high and the bottom ones for simply not meeting the standards.
The recent stock market collapse in China is causing a lot of panic and economic turmoil. it's crazy! I read that the government had to intervene with a massive 2 trillion yuan bailout facility to stabilize the situation.
This is definitely a challenging time for the Chinese economy. I think they need a comprehensive solution to address the root causes of the issue.
Do you think a financial advisor (FA) could provide a solution to this crisis? It seems like they might be able to guide individuals and companies through these uncertain times.
Absolutely! An experienced financial advisor could play a crucial role in helping businesses and investors make informed decisions during such market downturns. They can provide strategic advice, portfolio adjustments, and risk management strategies.
You're right mate! I've been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $900k
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Chinese saying:. If you can cheat, CHEAT! Chinese tried to not pay some employees, in Africa... It didn't go down, as it would have, in China; the unpaid employees, showed up, with AKs, and got their pay!
Just today I saw a clip from D.R.Kongo..by the "China Fact Chasers" a Fav Channel of mine..IT IS GETTING DARK THERE and fast.
Stop accepting bids that make no sense.
Why?? EU should be smarter... Let Chinese companies compete, take the money, ban them and open a new bidding.
You'll see that scam companies will automatically disappear and... If EU plays it right, they'll get the projects for free, as long as they keep cashing from Chinese companies 🤓
like Americans dont want buy cheap china products, work more than 2 jobs and at the end donate their money to the US oligarchs such as ExxonMobil?😅
under Biden administration the Fed interest rates have increased from 0% when Biden was inaugurated into 5.5% today.
that is 5.5x you pay interest rates than less than 3 years ago with 0% interest rates from the Fed.
also according to the Bloomberg, there is love affair between the corrupt regime of democratic party vs oligarchs of the USA. every time the US democratic party wins the US presidential election, ExxonMobil will hit a new net proft in human history while Americana have to work more than 2 jobs and pay interest rates 5.5 times compared to before the war time.😅
better than boeing isn't it?
Its difficult when bribes accompany the bids
@@user-ee7bz3ip2b yeah just like in the USA, presidential election companied by bribery done by oligarchs.
The way the CCP hugely underbids on projects is one reason why Western governments set up a system that regularly throws out the lowest (and the highest bids), forcing the bidders onto a level playing field. Its those countries not accustomed to such necessary processes that are the victims of *the CCP's **_bait and switch,_** predatory project pricing.*
👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾
🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯💯💯💯💯💯💯💯💯💯💯💯💯
I’m glad to see that the world community is getting wise to Chinese scams
Hooo Leee Swift.. I literally got a micro stroke, hearing the news for Bulgarian high speed rail project and imagining all the possible drawbacks & disasters this could bring to my country..for sure there's no need to get more detailed to the intelligent public (especially) here.👍🏻 Was even starting to manage a plan - for how to stop this!
My humble gratitude to the EU commission for not giving "thumbs up"! Thanks A Thousand, EU for saving our backsides! 🇪🇺
Ikr.. would you travel on china’s high speed railways
@@mentalpasient6823 No
@@mentalpasient6823 well the USA has imported 2000 BYD electric busses and its subway is using China trains.
well which one is better? Indonesia bought F16 from the USA. When there was different opinion, the USA sent Soros and Indonesia currency was dropped over night from 1 USD = Rp 2,000 into 1 USD = Rp 16,800 or the USD has been manipulated Rp 16,800 /Rp 2,000 = 7x overnight.
Is there any country can afford to pay interest rates that haven been increased 7x due to USD manipulation. BTW Indonesia is not my country.
Now imagine Venezuela. In 2023, 1 USD = 2,722 Bolivars. Today, 1 USD = 31 million Bolivars. Imagine how big is big trap Venezuela would have if it bought 2000 F16 from the USA with that massive USD manipulation. What do you call this USD manipulation? USD debt trap?
If its cheap and made in china
Expect the quality
I avoid Chinese items as much as possible
Why I rather not work for a Chinese company
who will hire you a psychopath American?
Busted Belt, holey Road. Safety and standards? Nope! EU needs to do safety checks on those Chinese EV cars before allowing their sale - a new test for the safety of the equivalent of the gas tank - the battery and battery chassis.
Thanks for your in-depth reporting.
Our pleasure!
@@ChinaObserver0 How much do you earn making up these fake news? Just curious.
@@ChinaObserver0 well which one is better? Indonesia bought F16 from the USA. When there was different opinion, the USA sent Soros and Indonesia currency was dropped over night from 1 USD = Rp 2,000 into 1 USD = Rp 16,800 or the USD has been manipulated Rp 16,800 /Rp 2,000 = 7x overnight.
Is there any country can afford to pay interest rates that haven been increased 7x due to USD manipulation. BTW Indonesia is not my country.
Now imagine Venezuela. In 2023, 1 USD = 2,722 Bolivars. Today, 1 USD = 31 million Bolivars. Imagine how big is big trap Venezuela would have if it bought 2000 F16 from the USA with that massive USD manipulation. What do you call this USD manipulation? USD debt trap?
@@MantaRayOfDoom yup just like Americans made movie about winning in Vietnam war such as Rambo. What is the reality? It has lost.
It never ceases to amaze me how many people and countries REPEATEDLY fall for China's tactics. I mean ... seriously? Fool me once, shame on you. Fool me twice, shame on me. No one should be doing business with China. NO ONE.
Follow the "money", someone must has accepted bribe.
@huedoppler1 Prove it.
Money speaks volume!
@@huedoppler1Yes, you're right! To follow where the money is!
You know what they say: Once is a tragedy, twice is a coincidence, and thrice is a pattern.
Got startled by those medical alert alarms mid video. Thought my alarm system was going off.
So Wise , Thank You. Another fine reason NOT to deal with China
"China lies - people die"
The pain of poor quality persists long after the pleasure of low price is forgotten. (anonymous)
In U.S. construction bidding if one bid is very low in comparison to the majority of bids it is thrown out.
many low quality products come from the USA. One of them is Boeing. 2nd one is its cars. the 3rd one is its Nasa program.
The problem is in the procurement process. If a country decides procurement on "bids" where price is the only factor, it's a flawed procurement process. The bidder can be required to provide additional information to demonstrate its competency. Where the lowest bid is way too low than others, that bid ought to be rejected not blindly accepted.
Chinese buildings and products definitely do not have life spawn of 5 years. I would call it 1-2 years tops if lucky.
We lied, we stole, we cheated. We have entire training courses - MP.
Not only 100% tofu but also 100% toxic
well which one is better? Indonesia bought F16 from the USA. When there was different opinion, the USA sent Soros and Indonesia currency was dropped over night from 1 USD = Rp 2,000 into 1 USD = Rp 16,800 or the USD has been manipulated Rp 16,800 /Rp 2,000 = 7x overnight.
Is there any country can afford to pay interest rates that haven been increased 7x due to USD manipulation. BTW Indonesia is not my country.
Now imagine Venezuela. In 2023, 1 USD = 2,722 Bolivars. Today, 1 USD = 31 million Bolivars. Imagine how big is big trap Venezuela would have if it bought 2000 F16 from the USA with that massive USD manipulation. What do you call this USD manipulation? USD debt trap?
Tofu dreg strikes again!
You paid cheap,you get cheap.
I agree, this is how chinese do business. My dad was also the same 😢
Wow 😲
..well, they say- no body chooses his relatives..but don't they really?!? ☸️😉
@@bodamyan_bg yeah like Americans dont want to buy cheap China products but they donate their limited money to their oligarchs such as ExxonMobil. LOL
it is okay if lower your own profit margin to negative if you plan on not surviving.
Just imagine that China is governed by competent people like those in Taiwan and Japan who are quality and customer focused. At this point, the whole China is just like the products that they produce - low quality, dangerous, and not fit for human consumption.
Tofu Dreg 🇺🇲
LOL worst than Boeing NASA rubbish's programs right?
So, you mean that almost always China brings in all the workers do build it's B&R projects in other countries? They don't employ many locals? They're so awful.
They make the project no or law standard material and design
Mabuti yan sa kanila parusa
One word: REVOLT !!!
I always wondered why importing employees would actually be more viable for the chinese. It makes sense if they withhold the salary or just keep their family hostage.
9:31 reminds me of an old cartoon I used to watch when I was a kid
its almost as if over consumption isnt sustainable
I know, right? What about the service economy, where we all get rich somehow by doing each other's laundry?
Yup
yippee it's andrew!!!
This is the problem with high population countries. Too kuch compeittion and everyone needs splits. Vs in america way less people to feed and corrupt
Madness
No, it’s just money
@@mentalpasient6823 and madness
@@mentalpasient6823
or even the next big thing - Projecting Power!
@@bodamyan_bg they don't have that.😂😂😂😂 They can't even project Naval ships across an ocean. Garbage.
My brothers chinese girlfriend stole thousands of rare coins from me. I here all chinese act this way
Photo from 2011 ? Zhejiang ? 😢😢
All these subsidies are financed by debt. Good luck with that when the bonds mature.
Global = collective west🤣🤣🤣
tofu quality... love it
This is what happens to Philippines they bid low for globe telecom their pO is the most disgusting from telecom installation 10k usd they make it free thats why we are heart broken lower wage
How can us made telecom product win against china 5yrs to pay free installation after 5yrs you will pay this is unfair competition
Not to mention all use Huawei and ZTE equipment too.
I have personally seen the issue of worker environmental problems in China. I was not in China, but the owner of a number of factories, making fairly low-end stuff, came to the US. I had gotten to know his nephew who the company had sent to the US to build up business. At this meeting, where very high-end liquor was provided, a number of deals were made. I was sitting next to one of the other nephews who was talking to a US customer. He asked whether the customer wanted filtration in the plant for worker safety. The US customer said no. That would have driven up the cost. This stuff is real.
What the west has done is to export pollution and mistreatment of workers. Add to that the poor quality of Chinese goods (I have lots of stories on that) and China has become a pox on the world.
If one expects this population to suddenly embrace liberal democracy and rule of law, then one is dreaming. That is a fantasy of Chinese in the west.
Made in CHIoHELLNAH
Where is Jack
so... are you saying that advanced nations are more socialist than china?
What do you mean?
An interesting and truthful observation. Bravo.
@@bodamyan_bg I still dont get it. Holding companies responsible for their contracts is somehow socialism?
Is it true? Don't tell lies! 😊
Person looks suspicious, if "Hello Kitty" means their private part got cut off? As not stopping the continuous injuring-move? "The psycho that try create no friendship to occur for target to in adversity" etc.
Means they in L.G.B.T Movement and have status decision in structures-construction. That's why they call the mastermind as "Contractor"?
I have a writing of "Art of War of Enemy" if they get to use using-language barrier and their own definition as education-since-young, to recruit workforce that is 100% injuring impact with each group known as Justice-Force. A make-believe movement, illusion of "the best path" by calling it "the good way" maybe my guess. Intel is different some lie as friend to get could be the reality. Bad witness used on standby should be around?
Cringe videos added from that company that makes video clips. They are so bad I can't watch! They are actors not business people or whatever - ACTORS., its so obvious.
It is amazing how the the truth hurts. When was the last time that China invented something. Let me think, now I remember, wasn't it gunpowder?
Trump would never let this happen
Dream on 😂! Stop drinking his kool-aid!
yes he would comrade, his family is in bed with the commies. blame the system
Trump takes bribes from the Chinese even during his term of office...and from the Saudis...and from the Russians...no wonder he was voted the worst president (and the most corrupt) of all time.
@@politicalbandit3904lol.Maybe those European countries should’ve drank his koolaide.
@@politicalbandit3904Europe should drank his koolaide.
CCP tactics sound a lot like our left wing's political party tactics. 🤔
Be more specific, where are you talking about? Otherwise your comment is meaningless.
Do this channel really anti-zh? Where all those most "hot" near topic such as mass attack? Or also be order that not allow to talk about them in most sensitive time.
China has never failed at any single step of its space program and is making the best phone in the world.
These videos don't portray Chinese culture in a very good light.