The following is extraordinarily creepy and disturbing. It’s also extremely clever, from a jackbooted, fascist thug perspective. When massive censorship itself isn’t enough…
China’s plan to control the hearts, minds and internet connections of its citizens continues unimpeded. That’s the great thing about authoritarian regimes: rollout of mandatory programs is usually only a problem of logistics, not opposition.
The Chinese government has mandated a rating system for all of its connected citizens. It looks like a credit rating but goes much deeper than just tying a measurement of financial risk to a number. It’s a way of defining who someone in terms of the government’s desires and aims. And its desires aren’t all that honorable.
Update: it did not take long to find the possible bombing suspect:
Suspect is a local 33 year-old guy. http://t.co/wz94pSItvW So far 7 dead, 2 missing, 48 injured
— Fergus Ryan (@fryan) September 30, 2015
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Over the weekend when we reported that one of China’s largest coal miners had laid off 100,000, or 40% of its workforce, we noted that China’s hard-landing is starting to hit where it really hurts: employment, or rather the lack thereof, and the one logical consequence: “now, many migrant workers struggle to find their footing in a downshifting economy. As factories run out of money and construction projects turn idle across China, there has been a rise in the last thing Beijing wants to see: unrest.” Continue reading »
BEIJING, September 28. /TASS/. China is ready to join the international fight against any forms of terrorism, China’s Foreign Ministry spokesperson Hong Lei told a regular news conference while commenting on information in some media about Chinese warships near Syria being ready to take part in a mission against the Islamic State (IS) terrorist organization.
“Terrorism is the enemy of mankind,” he said. “China is against terrorism in all of its forms and is ready to apply efforts for fighting terrorist forces jointly with the international community. This position of China remains unchanged.” Continue reading »
“The discrepancy between economic growth and the two key indicators’ growth in the first six months did not fit with previous patterns, but industrial restructuring is a new factor, and should be taken into account when analyzing the new situation.”
The global commodity collapse is finally starting to take its toll on what China truly cares about: the employment of the tens of millions of currently employed and soon to be unemployed workers.
On Friday, in a move that would make even Hewlett-Packard’s Meg Whitman blush, Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group, the biggest met coal miner in northeast China which has been struggling to reduce massive losses in recent months as a result of the commodity collapse, just confirmed China’s “hard-landing” has arrived when it announced on its website it would cut 100,000 jobs or 40% of its entire 240,000-strong labor force. Continue reading »
Last Thursday, we asked if China was set to join Russia and Iran in support of the Assad regime in Syria.
Our interest was piqued when the pro-Assad Al-Masdar (citing an unnamed SAA “senior officer”), said Chinese “personnel and aerial assets” are set to arrive within weeks. To the uninitiated, this may seem to have come out of left field, so to speak. However, anyone who has followed the conflict and who knows a bit about the global balance of power is aware that Beijing has for some time expressed its support for Damascus, most notably by voting with Russia to veto a Security Council resolution that would have seen the conflict in Syria referred to the Hague. Here’s what China had to say at the May 22, 2014 meeting: Continue reading »
As US President Barack Obama welcomed Chinese President Xi Jinping to the White House on Friday, Sept. 25, and spoke of the friendship between the two countries, the Chinese aircraft carrier Liaoning-CV-16 docked at the Syrian port of Tartus, accompanied by a guided missile cruiser. This is revealed exclusively by DEBKAfile.
Beijing is not finding it hard to dance at two weddings, wooing the US for better relations, while at the same time backing Russia in its military intervention in Syria. Coupled with the warm smiles and handshakes exchanged at the lavish reception on the White House lawn, Beijing was clearly bent on showing muscle – not just in the South China Sea, but by allying itself with the Russian-Iranian political and military buildup in support of Syrian President Bashar Assad and his regime. Continue reading »
… as planned.
Washington’s IQ follows the Fed’s interest rate – it is negative. Washington is a black hole into which all sanity is sucked out of government deliberations.
Washington’s failures are everywhere visible. We can see the failures in Washington’s wars and in Washington’s approach to China and Russia.
The visit of Chinese President Xi Jinping, was scheduled for the week-end following the Pope’s visit to Washington. Was this Washington’s way of demoting China’s status by having its president play second fiddle to the Pope? The President of China is here for week-end news coverage? Why didn’t Obama just tell him to go to hell? Continue reading »
Flotilla, led by the ship of the Russian Black Sea Fleet, sailed from Sevastopol, in Crimea, and late on Sunday, September 27, arrives at the destination.
The exercises involved and frigates with guided missiles “Smetlivi” and landing ship class “tapir”, and a number of auxiliary ships.
They will be joined by another frigate and missile gunboat, which were previously transferred from the Black Sea into the Mediterranean Sea.
Civil Aviation had earlier warned that bypasses the area between Cyprus and the Russian naval base in the Syrian city of Tartus, according to “Sputnik”.
During the exercises, which will take up in October, the sailors will participate in more than 40 different combat missions, including missile and artillery fire on targets on the surface and in the air, air defense and attacks on ships, as well as search and rescue operations and relief ships in distress.
According to the Russian Senator Igor Morozov, Beijing has taken decision to take part in combating IS and sent its vessels to the Syrian coast. Continue reading »
“According to a senior officer in the Syrian Arab Army (SAA) that is stationed inside the Syrian coastal city of Latakia, Chinese military personnel and aerial assets are scheduled to arrive in the coming weeks (6 weeks) to the port-city of Tartous – he could not provide anymore detail.”
AsiaPac stocks are opening mixed after the US session gains. Perhaps the biggest news of the evening is, as China’s bankiong regulator has been meeting with foreign banks to express concerns over lack of risk control around non-performing loans. As CBRC said, rather stunningly honest for a government entity, “the current situation is more severe than the time in 2008 during the financial crisis.” With stocks up while commodities (Zinc) limit-down, PBOC injects another CNY50 bn and devalued the Yuan fix for the 2nd day in a row.…
The biggest scare haunting Apple stock in recent months has been whether the slow at first, then quite sudden collapse in both the Chinese economy, not to mention its burst stock market bubble (which in Chinese propaganda retrospect, is now a great thing), will put the breaks on Chinese purchases of Apple’s most important and profitable product – the iPhone. Indeed according to a just released UBS report, while it takes the average New York worker about 24 hours to afford a 16GB iPhone 6, this number rises to 218 hours in Beijing. And the great China’s economic slowdown the higher the number will go, and the lower Apple’s revenues in the coming quarters.
However, for China’s middle class, whose dreams of market bubble riches just went up in a margin call, there is still hope to pretend to be richer than one’s neighbor courtesy of a faux rose gold cell phone. The answer: a tablespoon of sperm.
As Xinhua reports, “technophiles may not have to reach far to find the cash for Apple’s latest model. According to an advertisement with the Shanghai Sperm Bank – all you have to do is donating.”
“No need to sell a kidney…Shanghai sperm bank can make your iPhone 6s dream come true,” says the ad which has gone viral on China’s most popular social networking app WeChat this week.
Capitalizing on the country’s lust for new technology, the sperm bank hopes to fix a shortage in donors ahead of the release of the iPhone 6s next week. Those who qualify to donate can receive up to 6,000 yuan for 17 ml of semen. The latest Apple model is expected to cost around 5,288 yuan.
The morbid jokes just write themselves:
“Why sell your kidney when you can donate sperm? It’s a great deed that can bring happiness to a whole family,” said microblog Weibo user “Wojiushiwutong”.
As a reminder, while “selling kidneys” is usually just a phrase, in China it became all too real in 2011 when a teenager sold one of his kidneys to buy and iPhone and an iPad. “To sell a kidney has become a well-known metaphor for the fever pitch surrounding Apple products.”
A sperm bank in central China’s Hubei Province posted a similar ad highlighting a picture of the new rose gold iPhone 6s, a color created mainly to attract Chinese consumers. The Shanghai ad is bluntly titled “New Solution to Get iPhone 6s”, evoking some criticism that the sperm bank is being insensitive.
“I don’t like the idea of making money out of sperm donation to buy new iPhones. Sperm donation is a very serious cause for public good,” one Weibo user said. But a spokesperson with the Shanghai sperm bank told Xinhua the campaign has worked well so far, raising awareness and attracting potential donors.
The reason why 17 ml of sperm are so valuable in China is because not only are there thousands of infertile couples in China, but all sperm banks across the country face donation shortages because many young men are unaware or too embarrassed to donate, forcing the banks to turn to social media.
Even if they do find a sufficient pool of potential donors, certain criteria must be met to be eligible. Donors must be between 22 to 45 years old, hold a college degree and have high-quality semen that can survive the rigors of freezing and thawing.Which still keeps the pool of eligible candidates in the tens if not hundreds of millions.
It was not exactly clear how potential female consumers of iPhone are supposed to capitalize on this latest Chinese craze, and while there are countless, and very humorous, places one can take this latest manifestation of capitalism perhaps gone too far, one potential Chinese “channel check” may have appeared: masturbation as a leading indicator of iPhone sales. Because just when sales were starting to turn flaccid, here comes China’s sperm-for-iPhones Hail Mary, promising at least several more quarters of firm stock reactions to EPS beats.
When it comes to manipulating stock markets, there is the Western way in which central banks either directly, or – like in the US – indirectly, thanks to a very close relationship between the NY Fed and the world’s most levered hedge fund Citadel, documented here since 2010 – in which central bank trading desks end up buying index futures or merely use massively-sized orders to spoof the market higher (and very rarely lower), and then there is the Chinese way in which the local plunge protection team named the “National Team”, which has already spent around $300 billion to (ineffectively) halt the bursting of the Chinese stock bubble – buys individual stocks. Continue reading »
Back in June we noted that for luxury car manufacturers, the Chinese cash cow is dying. “The enormous growth rates luxury-car makers like us have seen in China in recent years won’t continue,” Porsche CFO Lutz Meschke warned at an event in Atlanta in May and needless to say, the picture has not brightened since then. Continue reading »
– China’s Economy Continues To Crumble As Key Data Is Worst In 15 Years (ZeroHedge, Sep 13, 2015)
– A Major Bank Just Made Global Financial “Meltdown” Its Base Case: “The Worst The World Has Ever Seen” (ZeroHedge, Sep 12, 2015):
One bank that is now less than optimistic that China can escape a total economic meltdown is the Daiwa Institute of Research, a think tank owned by Daiwa Securities Group, the second largest brokerage in Japan after Nomura.
Actually, scratch that: Daiwa is downright apocalyptic.
“Of all the possible risk scenarios the meltdown scenario is, realistically speaking, the most likely to occur. It is actually a more realistic outcome than the capital stock adjustment scenario. If China’s economy, the second largest in the world, twice the size of Japan’s, were to lapse into a meltdown situation such as this one, the effect would more than likely send the world economy into a tailspin. Its impact could be the worst the world has ever seen.”
– China Panics: Calls On US To “Jointly Ensure Global Stability”, Exclaims “Economic Outlook Is Very Bright” (ZeroHedge, Sep 8, 2015):
Hot on the heels of The World Bank demanding The Fed not hike rates, China issued a statement “calling on US to jointly ensure global economic stability,” tonight following a farcical intervention last night on record low volumes and a small devaluation of the Yuan. Foreign Minister Wang added “China and U.S. should also properly handle disagreements and safeguard current international order,” just as another minister spewed forth “China’s economic outlook is very bright,” – well apart from the record debt, collapsing asset values, and masssive over-capacity, you mean. Further measures detailing the new capital restrictions for forward FX transactions were announced (which will likely do for CNH what regulators did to Chinese index futures). Chinese stoicks are extending their gains in the pre-open on vapid volume as China leaves Yuan practically unchanged.