I think most people are greedy irrespective of their nationality. If I wasn't so greedy, I would have sold the BRM at $6 earlier this year and be sitting on a comfortable early retirement, but no, I wanted more and now early retirement is pushed back.
The only reason the Chinese are buying up everything in Australia is because they're the only ones with money. The first world nations are all hopeless and without any savings. The Chinese keep their currency artificially low in order to maintain their competitive advantage. It is the industrial nation's companies greed that has put China where it is now. These companies set up factories in China because of the cheap labour sacrificing their own nation's workers, all in the name of increased profits. The Chinese steal the intellectual property and then produce their own copied versions, without paying anything to patent holders as they don't respect international law. Anyway, that's another issue that isn't relevant to the BRM thread.
Wah Nam's tactics are unsurprising. Just as Chinese find westerners to be lazy and stupid, I find Chinese to be kniving and deceptive and lacking the integrity of the Japanese. However, my general wariness of Chinese doesn't mean I wouldn't conduct business with them, but I am not surprised when they do things that are generally considered 'unethical' in Australia.
BRM Price at posting:
$2.19 Sentiment: None Disclosure: Held
