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Numbers usually come with the addition of "左右" (left and right) in China – that is, an "approximate" approximation of reality. Johnny Erling reveals how everyone from Karl-Heinz Rummenigge to IOC chief Thomas Bach, as well as major companies and investors, have repeatedly allowed themselves to be gullibly mesmerized by China's magic of big numbers coupled with even bigger promises.
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Cat pictures helped Non-Fungible Tokens (NFT) boom in China. First, the art scene sensed good business. Now tech giants like Tencent and Alibaba are also issuing tokens. They are afraid of missing out on the next hype. But the government already put a spanner in the works of the tech industry once. Now, that could happen again.
By Ning Wang
