To manage the fund, Yahoo partnered with Harry Wu—a noted Chinese dissident turned powerful anti-China activist—and his nonprofit, the Laogai Research Foundation. But Wu grossly mismanaged YHRF, spending less than $650,000—or 4%—of the fund’s total $17.3 million on support for online dissidents, according to the current lawsuit. One year, YHRF allegedly spent $0 on what was meant to be its primary purpose. (Some defendants contest these calculations.)
Is this because Shanghai is often viewed as a technologically advanced yet morally depraved equivalent to Las Vegas, in China?
I hope that I’m able to move to Shanghai one day.
Shanghai was a primary “treaty city” meaning it was EXTREMELY heavily influenced by the western world and liberal ideology for nearly 2 centuries.
Its also a financial capital, meaning its full of bankers, investment moguls, and the ultra rich.
Yeah, I get all of that. From what I’m seeing though, it hopefully looks to be shedding that reputation piece by piece.
Not really in all honesty, China needs a financial capital for the time being, and Shanghai has worked perfectly for that. Little changed has happened there, and it is a major international hub, so the influence persists.
Hopefully in the near future.
Think of it more as the NYC of China. You’ll know when someone is from there because they’ll tell you in the first five minutes of meeting them.
I’ve often seen and made the comparison myself that Shanghai is the “NYC of the East”, with a bit of Las Vegas, Philadelphia, Singapore and Texas built-in.
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Not bad.