Unless anyone has less than an ounce of understanding about how business is done in China. They would not know that large amounts of cash transactions do not happen without the knowledge and consent of the CCP. It’s how business is done. It is why much of their reporting is not diplomatically considered to be trustworthy as far as accounting is done. Due to government bank loans and controls and certain subsidies it is often very difficult to ascertain what is earned, what is profit and what is loss.
Apparently there are in this universe those who lack the understanding on how business is normally conducted in China and they never will understand the CCP overreach.
In China, Capitalism has very little place to exist. That is not to say capitalism is perfect. But in the way of audits and revenues and profits and losses the FASB seems to be a more verifiable way of recognizing success and failure.
Where the USA gives out tax breaks and start up $$$, the government banks of China, continues to subsidize losses until the losses show no promise of return. It’s done to give China’s companies an unfair competitive advantage.
If anyone does not understand this, just study the solar panel industry of China for example.
Aside from these truths, none of this has anything to do with the failures of LQMT pre LL or post LL’s LQMT involvement.
Now Isn’t that the truth. Or as they say in the real world; isn’t that rich. :)
Good luck to all in LQMT.
Wish LL TC & the CCP luck.
Because if they make it. We might make it too.
Both using an imperfect system to profit off of.
