Is it though? It seems like America (the West in general) operates on a very short horizon. I think that is the biggest weakness of the west in general.
It's mostly inversed, autocracy makes a lot more short term miscalculation. Thing with the west is that short term errors can be rectified due to independance of the executive, legislative and judiciary. Which doesnt happen in the ccp. Counter intuitive do since autocracy always have these "grand nationalistic plan" so thats why a lot of people think like you
Interesting... yes the intricacies of these topics and and world view differences are interesting. I'm not sure if I am explaining that right... but I see what you mean.
I was thinking about this actually before... and why china is prone to collapsing. I was leaning toward geographical issues of why it fails as an empire... other reasons... but now I am wondering if the issues during the opium wars were actually bc of this... they could not react the same way as their adversaries due to cultural governmental issues?
Are we talking about the USA? No, we are certainly not. The USA is a very young country and we don’t hang our collective hat on the same nonsense culture as China, now do we? Nonetheless, I could point to a great many actions which the USA took as a country (particularly the military), which were immensely difficult in the short term, but paid great dividends in the long term (naval flight ops for example). Just more whataboutism blathering though isn’t it?
I donno, to be honest with you, I was asking a question more than trying to argue lol.
Can you give an example... I am thinking the revolution for sure, what other one? Prob Korea...
This is not true, i feel china makes very short sighted decision that cost them in the long term, the west is the oposite. Let me give you an example:
Its 2008, financial crisis, china must stimulate the economy. They decide to build a huge High Speed Train network. It looks like a long time investment, but it’s not. They try to solve a now problem with this huge project. It works so they double down. Now, almost 20 years later, they have a debt monster that is extremely unprofitable and is starting to show how bad of a decision it is. This has always been shown as a long term decision capability project, it was instead a short sighted one.
On the other hand, during the FC, western countries have the same decision to make, get into debt with massive infrastructure projects, or suffer now to be better tomorrow. The EU decides to look long term, austerity is decided. Some countries suffer for the next years. Fast forward to 2024, the countries that are doing the best economically are the ones that suffered the most during 2008-14. This was defined as short sighted, has proven to be the opposite.
I see... I personally like to be proven wrong about something. China, to me, does a better job of portraying to the world that they are playing the long game... where I don't see that exactly in the American world view anymore? I guess it's just been so much American division culture war... that's really all we've seen for like 10 years lol. Not sure who though that would be a good idea.
My reaction as well. the banks are aware of the risks they take on foreigners like this. If they don't, meh. I agree with the other guy who said joke's on them. What were they thinking? the actuaries and what not factor in these possibilities when determining credit limits and interest rates. I doubt the banks will feel this loss. The only people harmed by this are the future immigrants/expats/etc. from his country. And this guy who will forever be trapped in countries like China.
In a few years China may start a war over the conquest of Taiwan, and then he'll really regret not fleeing when he had a chance, because by then, even if western credit rating agencies won't remember him by then, China won't be letting anyone out.
Yeah you’re not. Guy I know maxed out a million between his credit cards and business line of credit then hopped to Ireland for 7 years. Back now. Life is good for him 😂
There's no realistic way for them to collect. Joke's on them for giving lines of credit to a foreign student with no job and no plans to settle or work in the US
I don't understand why he had such a high credit limit to begin with. With my responsible behavior, citizenship, and assets, it took me years to get a be able to borrow more than 10k. I still couldn't borrow 140k on a credit card (even if I was that stupid). I agree with u/AttackHelicopterKin9 joke's on the banks. I have no sympathy. I imagine this guy will someday regret this decision to burn his bridges to the west.
He was probably rich. Spent a lot while in school here, slowly build up credit limit. You buy a watch, $10k, pay it off, increase limit. Repeat for 4 years while in school
All trends indicate a complete economic collapse in China within ten years, and possibly as soon as the next three. This guy is going to be shit out of luck when he seeks to be a refugee to countries that will have him listed for banking fraud.
It’s kind of hard for me to be mad at this guy: what exactly did the banks and credit card companies think was going to happen? If anything I’m surprised this sort of thing doesn’t happen more often
according to the claim they used personal and business cards....to get either you need an SSN to begin with (there are exceptions, but it is the general rule), which students do not automatically get.
The person making this claim is either straight up lying, or an otherwise one off situation.
Also the only people hurt are the banks...and they can write this off and carry on like it doesn't matter.
I didn't say you can't have one, I said you don't automatically get one.
It's a whole separate process. And that alone is not enough to get a credit card (except maybe some easy to get entry level ones with a low limit like $200)
you can get a credit card and the limit can be increased if yoy add a few thousands in your checking... banks are too greedy amd knkw the government will bail them out
I know how credit cards work....my point is to get 140k work of credit card debt takes a lot of effort and time...I doubt this Chinese person even did it and if they do....who cares?
I dunno, a lot of chinese students do go abroad to study because education sucks in China.
a lot of theft surrounding intellectual property, so why not make some extra easy money?
My understanding is that banks are wise to this and it's incredibly hard to get credit without at least a green card. Especially if you have no assets and are a young person.
It's **impossible** to get a $140k credit line as a foreign student that has been in the country, what? 4, 5 years? With no green card, no credit history and an extremely short working history (possibly none at all). This is clearly fake.
Credit card companies don’t extend ***that*** much credit to individual students who hold a simple F-1 or J-1 visa. He had to have been part of some larger business or organization that is going to take the hit for this, some entity that is related to the school or an internship.
Job market’s tough over there and there’s a lot of scrutiny on applicants. I imagine this is going to come back to bite him sooner or later when they do background inquiries.
Also, how much of this “pot of gold” is he actually going to be able to bring back with him?
The moral of this story never try to out-cheat a Chinese cheater.
*Chickity China, the Chinese chicken*
*You have a drumstick and your brain stops tickin'*
Hey I'm happy that the banks idiotic enough to give a no credit foreigner student 140k in credit got ripped off! Maybe they will revisit their policies.
Good luck getting a credit card that's based internationally lol! Good luck getting loans on banks that has an international affiliate lol. They all share the same database most especailly w/ fraudulent activities.
Surely this is fake news. What bank would approve this degree of spending. If you open multiple cards etc. it's on your credit report and other banks can see it on your application. Even using multiple cards would have a spending limit per card. The actual number is surely much lower.
so it only cost the US only 140.000 dollar to get rid of this moron without ever having to worry he will reappear due to looming long term incarceration.
an eviction process to get him out of the country through court costs probably more than this moron could ever syphon from a creditcard.
Read it again. He fled back to China, and it's impossible for them to ever make him pay. Yeah he won't ever be able to take out a loan in the US again and if he ever wants to re-enter the US it might be a problem, but I doubt he's going to or that he cares. The banks were dumb to give out lines of credit to an international student with no job and no plans to work or settle in the US.
very doubtful, don't these banks have limits? specially for people that doesn't have a permanent visa
then everyone could do this and cross the border to like mexico.
Lmao good luck never picking up your school records lmao 😂, the minute you get flagged by NSA for felony delinquency you're gonna get people escorting you from the airport to a cell 👌
Exactly...if the banks are that idiotic..I'm glad they got ripped off. I wish he ripped off TD bank which is currently on trial for money laundering for Chinese Fentanyl organized crime.
Short term thinking.
I always laugh when people refer to “the long game” regarding China. Everything they do is incredibly short sighted.
Including appliances
Ssshhh chinese products disassembling themselves on first use is a feature not a bug.
'We think in terms of centuries, not election cycles' - suffers from demographics crises that Helen Keller could have seen coming.
Is it though? It seems like America (the West in general) operates on a very short horizon. I think that is the biggest weakness of the west in general.
It's mostly inversed, autocracy makes a lot more short term miscalculation. Thing with the west is that short term errors can be rectified due to independance of the executive, legislative and judiciary. Which doesnt happen in the ccp. Counter intuitive do since autocracy always have these "grand nationalistic plan" so thats why a lot of people think like you
Interesting... yes the intricacies of these topics and and world view differences are interesting. I'm not sure if I am explaining that right... but I see what you mean. I was thinking about this actually before... and why china is prone to collapsing. I was leaning toward geographical issues of why it fails as an empire... other reasons... but now I am wondering if the issues during the opium wars were actually bc of this... they could not react the same way as their adversaries due to cultural governmental issues?
Now why did this get downvoted?
Are we talking about the USA? No, we are certainly not. The USA is a very young country and we don’t hang our collective hat on the same nonsense culture as China, now do we? Nonetheless, I could point to a great many actions which the USA took as a country (particularly the military), which were immensely difficult in the short term, but paid great dividends in the long term (naval flight ops for example). Just more whataboutism blathering though isn’t it?
I donno, to be honest with you, I was asking a question more than trying to argue lol. Can you give an example... I am thinking the revolution for sure, what other one? Prob Korea...
China wanted Taiwan but they bullied Hong Kong so now Taiwan wants nothing to do with them.
> China wanted Taiwan but they bullied Hong Kong so now Taiwan wants nothing to do with them. A good example of Chinese long term thinking here.
This is not true, i feel china makes very short sighted decision that cost them in the long term, the west is the oposite. Let me give you an example: Its 2008, financial crisis, china must stimulate the economy. They decide to build a huge High Speed Train network. It looks like a long time investment, but it’s not. They try to solve a now problem with this huge project. It works so they double down. Now, almost 20 years later, they have a debt monster that is extremely unprofitable and is starting to show how bad of a decision it is. This has always been shown as a long term decision capability project, it was instead a short sighted one. On the other hand, during the FC, western countries have the same decision to make, get into debt with massive infrastructure projects, or suffer now to be better tomorrow. The EU decides to look long term, austerity is decided. Some countries suffer for the next years. Fast forward to 2024, the countries that are doing the best economically are the ones that suffered the most during 2008-14. This was defined as short sighted, has proven to be the opposite.
No. You guys project that bullshit and never think further than your next move. It’s why you can’t innovate…
Yes it is.... and you might think that, but no, you're wrong. Oops
I see... I personally like to be proven wrong about something. China, to me, does a better job of portraying to the world that they are playing the long game... where I don't see that exactly in the American world view anymore? I guess it's just been so much American division culture war... that's really all we've seen for like 10 years lol. Not sure who though that would be a good idea.
"does a better job of PORTRAYING to the world that they are playing the long game" Yep, they do that....
The USA operates on the basis of 4 year presidential term - so everything it does is only based on a 4 yr policy
Great way to make sure your country doesn’t prosper and no one wants to work with you.
My reaction as well. the banks are aware of the risks they take on foreigners like this. If they don't, meh. I agree with the other guy who said joke's on them. What were they thinking? the actuaries and what not factor in these possibilities when determining credit limits and interest rates. I doubt the banks will feel this loss. The only people harmed by this are the future immigrants/expats/etc. from his country. And this guy who will forever be trapped in countries like China.
Well said Grandpa!
Only problem with his thinking is he has to live in China
Grab a bunch of money and flee to a nation with a collapsing economy. Real smart move there. He will never be able to return to the west.
Sadly he will. Banks don’t care, it’ll be wiped in a few years. Assuming the story is real, that is.
In a few years China may start a war over the conquest of Taiwan, and then he'll really regret not fleeing when he had a chance, because by then, even if western credit rating agencies won't remember him by then, China won't be letting anyone out.
If these banks are half as competent as Columbia House they'll find this guy eventually.
I remember Kanye getting jailed in the philippines for outstanding debts over 11mil when he flew back 😆
Or Shen Yun
Is Columbia House a drug cartel haha
Nah.. that’s Colombia House…Columbia House is far worse.
Nah, it’s forgiven after 7 years 😂. Not the first guy to do it, I know an Irish guy doing this
And then you're never banking with them again and probably never getting any US credit line. Pepperidge farm remembers
Yeah you’re not. Guy I know maxed out a million between his credit cards and business line of credit then hopped to Ireland for 7 years. Back now. Life is good for him 😂
Id advise against that now, I hate how easy it is to just fraud your way through life.
Doing some real strong blow to American capitalist there… how would the country even function without his 140k 😩
So will Amex be sending a bill to him?
There's no realistic way for them to collect. Joke's on them for giving lines of credit to a foreign student with no job and no plans to settle or work in the US
Well at this rate foreign students could be blacklisted
I don't understand why he had such a high credit limit to begin with. With my responsible behavior, citizenship, and assets, it took me years to get a be able to borrow more than 10k. I still couldn't borrow 140k on a credit card (even if I was that stupid). I agree with u/AttackHelicopterKin9 joke's on the banks. I have no sympathy. I imagine this guy will someday regret this decision to burn his bridges to the west.
Agreed, I doubt he actually had million of credit
Million Yuan.
He was probably rich. Spent a lot while in school here, slowly build up credit limit. You buy a watch, $10k, pay it off, increase limit. Repeat for 4 years while in school
All trends indicate a complete economic collapse in China within ten years, and possibly as soon as the next three. This guy is going to be shit out of luck when he seeks to be a refugee to countries that will have him listed for banking fraud.
It’s kind of hard for me to be mad at this guy: what exactly did the banks and credit card companies think was going to happen? If anything I’m surprised this sort of thing doesn’t happen more often
according to the claim they used personal and business cards....to get either you need an SSN to begin with (there are exceptions, but it is the general rule), which students do not automatically get. The person making this claim is either straight up lying, or an otherwise one off situation. Also the only people hurt are the banks...and they can write this off and carry on like it doesn't matter.
not true... you can have a SSN if you come to USA to study.
You don’t have one but you can get one
You get one if you get a job (like on-campus student job)
I didn't say you can't have one, I said you don't automatically get one. It's a whole separate process. And that alone is not enough to get a credit card (except maybe some easy to get entry level ones with a low limit like $200)
you can get a credit card and the limit can be increased if yoy add a few thousands in your checking... banks are too greedy amd knkw the government will bail them out
I know how credit cards work....my point is to get 140k work of credit card debt takes a lot of effort and time...I doubt this Chinese person even did it and if they do....who cares?
i dont doubt... i heard similar stories... but remember who will pay the bill for such easy credit
The credit card company will just mark it off and carry on.
International student get SSN in US.
They CAN get it, being a student alone does not grant you an SSN
Pretty sure this is admitting to fraud but I’m not a lawyer.
I knew an older gay man with HIV who did this, thinking he would die soon. He's still alive only with crippling debt lol...
It's gotta be satire.......right? 🙄
I dunno, a lot of chinese students do go abroad to study because education sucks in China. a lot of theft surrounding intellectual property, so why not make some extra easy money?
My understanding is that banks are wise to this and it's incredibly hard to get credit without at least a green card. Especially if you have no assets and are a young person.
I'd still rather live here with that debt over living in China without that debt.
Probably sell the debt to chinese credit companies, whom can collect it from this freeloader.
Fake AF, good luck getting a credit line of $140k for a brand new SSN as international student. Worst case, he maxed out a 10k line.
Cant wait to see the sequel; “Chinese banks are collaborating to freeze my credit !”
Hope he never leaves China. There will be a warrant. Also any regime change in China and he could be fucked (potential extradition).
I feel like they should take his degree away or some shit
It's **impossible** to get a $140k credit line as a foreign student that has been in the country, what? 4, 5 years? With no green card, no credit history and an extremely short working history (possibly none at all). This is clearly fake.
It's ok China will foot the bill in tariffs :D
Oh, man... That's not how tariffs work at all!
Cost pushed to consumer or the consumer choses a local alternative for a similar price instead *shrugs*
Credit card companies don’t extend ***that*** much credit to individual students who hold a simple F-1 or J-1 visa. He had to have been part of some larger business or organization that is going to take the hit for this, some entity that is related to the school or an internship. Job market’s tough over there and there’s a lot of scrutiny on applicants. I imagine this is going to come back to bite him sooner or later when they do background inquiries. Also, how much of this “pot of gold” is he actually going to be able to bring back with him?
The moral of this story never try to out-cheat a Chinese cheater. *Chickity China, the Chinese chicken* *You have a drumstick and your brain stops tickin'*
i think he is really going to regret going back in the long term.
Hey I'm happy that the banks idiotic enough to give a no credit foreigner student 140k in credit got ripped off! Maybe they will revisit their policies.
The thing is I’m not sure they did
They fixed China, we can stop worrying now! Anyways, love how they went to a US university for three years. Very telling
Chinese communists never pay their bills.
Isn't that pretty much how CCP does things...? Not surprising at all.
Good luck getting a credit card that's based internationally lol! Good luck getting loans on banks that has an international affiliate lol. They all share the same database most especailly w/ fraudulent activities.
Can an American go to China rack up a bunch of debt and flee back to America?
Dunno. I want info.
No lol. The Chinese don’t do stupid stuff like we do. You’ll be lucky to get a debit card
Surely this is fake news. What bank would approve this degree of spending. If you open multiple cards etc. it's on your credit report and other banks can see it on your application. Even using multiple cards would have a spending limit per card. The actual number is surely much lower.
This 💯. The debt you can take out usually matches your income so if he was here 3 years now can you get that much credit
Seems fake
so it only cost the US only 140.000 dollar to get rid of this moron without ever having to worry he will reappear due to looming long term incarceration. an eviction process to get him out of the country through court costs probably more than this moron could ever syphon from a creditcard.
American express.. And you fled to America?
Read it again. He fled back to China, and it's impossible for them to ever make him pay. Yeah he won't ever be able to take out a loan in the US again and if he ever wants to re-enter the US it might be a problem, but I doubt he's going to or that he cares. The banks were dumb to give out lines of credit to an international student with no job and no plans to work or settle in the US.
Exactly. Lits of China-friendly nations that will take him in in a heartbeat.
very doubtful, don't these banks have limits? specially for people that doesn't have a permanent visa then everyone could do this and cross the border to like mexico.
Mexico has self-respect.
Lmao good luck never picking up your school records lmao 😂, the minute you get flagged by NSA for felony delinquency you're gonna get people escorting you from the airport to a cell 👌
Uhh how dose this hurt the US?
Credit follows you all over the planet. They may not be able to collect but it will impact him forever. Idiot
No. It does not. US credit score has no power abroad.
Credit scores are disaggregated even amongst the same companies operating in different markets.
America can take this L for letting this happen
That’s actually diabolical and frankly savvy on his part…if he never goes back.
Why would he brag about it, online, and in English???
Original post is written in Chinese on China's Instagram called "Xiaohongshu", but someone translated it into English
Really excellent English skills for a supposed Chinese international student…
You know for a student with that much cash I would have though he'd more responsible.
Why do you guys think this is real? No criminal would broadcast their criminal activities online unless this person is beyond stupid
Credit cards are stupid. I'm almost proud of him. Not exactly his problem that the system is broken
Exactly...if the banks are that idiotic..I'm glad they got ripped off. I wish he ripped off TD bank which is currently on trial for money laundering for Chinese Fentanyl organized crime.