This is pretty staggering and not sure how to react to this news. How is the rest of the market economy going to react to this and how will this shape perception of China in the future? Cheaters? Thieves? Liars? This can’t be good for relations going forward.
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This reminds me a bit of a 2016 video featuring Mark Dice–although it was about silver bars, rather than gold bars.
He asked people on the street if they would prefer a silver bar or a Hershey bar; he had one of each to give away. Everyone interviewed (I really do not know if the video was edited) chose the Hershey bar. (After all, one explained, he could not eat the silver bar; so what could he possibly do with it?)