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Joined 1 year ago
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Cake day: August 8th, 2023

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  • Don’t they have many trillions in reserves?

    Right now China has about 3.2 trillion in ForEx of all kinds and currencies which means that this bailout represents nearly half of the total.

    ForEx is an extremely complicated subject, way too much for a single post, but it is essentially the lubricant for trade. If you don’t have enough of it in the right currency on an hourly (or less) basis to support your imports and exports then the machine will seize up.

    So what China is doing here is risky as hell and if it doesn’t work they will soon have the same kind of financial problems that Iran does and that is stupendously bad for an export based economy.









  • The 2 percent of GDP target is imaginary.

    The target was set so that no country would be able to join NATO and then just let everyone else pay for everything. You contribute to the common defense or you GTFO.

    We can bicker about 2% being too high or too low and whether the target should have been adjusted Post Cold War but any argument that some target isn’t necessary is just silliness.

    No amount of NATO bombs or tanks would have stopped the invasion.

    Oh I’m fairly certain that NATO military power would have stopped the invasion in the first 24 hours. A single flight of F-35s would have made those original Russian convoy’s cease to exist à la the Highway of Death from 1991.

    Even now NATO military power could substantially end the ground war in Ukraine before the end of the month.

    It only would have fueled the flames and given legitimacy to Russia’s claimed insecurity.

    So what? NATO didn’t do it and there’s STILL an ongoing war with a casualty toll well over a million and millions more displaced.

    Economic power is much stronger than military sabre rattling.

    Then the EU should have flexed them in 2014. They didn’t and here we are.




  • That’s a great question and the answer can be found in the wikipedia entry for the .uk domain.

    In a nutshell the volunteer “Naming Committee” setup back in 1985 established a rule that entities needed to register into specific subdomains based on entity type such as .co, where the .co part stood for “Company”. They did this to make managing registrations easier and to provide an “at a glance” way to see what kind of website you were visiting (commercial, government, charity, etc). The “Naming Committee” was extremely strict about ensuring that domains were registered to a specific entity and in the correct subdomain.

    By the mid-90s the volunteer “Naming Committee” was entirely overwhelmed by the sheer volume of domains being registered so that volunteer group was replaced by Nominet UK. Nominet didn’t open the .uk TLD to registration until 2014 and by then the subdomain thing (.co.uk) was so embedded into the United Kingdom’s internet structure that it had become tradition and NOT using was confusing to many people.

    There’s more subdomains than just .co as well and both wikipedia articles I linked list them.

    tl;dr .uk absolutely exists in the UK, it’s just used differently than almost anywhere else in the world.