Let’s not forget the other travesty going on in Paris at the moment – the one Obama thinks will really show ISIS that we mean business. That’s the one in which elected officials from nations across the globe conspire to raise taxes and put crushing new controls on industry using the pretext of global warming – oh, sorry, “climate change – because the public won’t support these policies they’ve wanted to impose all along if not for some scare scenario about a looming global ecological disaster. Continue reading »
When you have a billion people willing to work instead of expecting free “stuff”, anything’s possible… Earlier this year, a Chinese construction company had erected a 57-story skyscraper in just 19 days. This time the Chinese have built an overpass in mere 43 hours!
Workers took apart the old structure of Beijing’s Sanyuan Bridge in a few hours. Then they brought an entire piece of concrete to bridge the gap and paved it over, reports Citylab.com.
To build the bridge, over 1300 tonnes of new surfacing material was used which save months of commotion and traffic woes. For the first time in Chinese workers tried out a new ‘integrated replacement method.’
“China has for decades proudly proclaimed its lack of military facilities on foreign soil, so seeking long-term military access at a quasi-base level is a massive about-face… China is poised to cross the Rubicon.”
From witch hunts to corporate defaults to abysmal data, Friday marked a rather unceremonious end to the week for China, as a veritable perfect storm of bad news sent the SHCOMP reeling. Unfortunately for China’s day trading masses the plunge protection team was, like Guotai Junan International Holdings’ CEO Yim Fung, “missing” in action.
Earlier this week, we documented the curious case of Guotai Junan International Holdings’ CEO Yim Fung who went “missing” on November 18.
After five days of trying to reach Yim via his cell phone, the brokerage issued a statement saying they simply could not find him. Guotai’s shares took a nosedive, falling 12%, the steepest decline in three months.
You needn’t have been a sleuth to make an educated guess as to what might have happened. Beginning in July, China embarked on a comically absurd witch hunt to identify and punish those “responsible” for the dramatic bursting of the country’s leverage-fueled equity bubble. The crackdown (known as “kill the chicken to scare the monkey”) ensnared everyone from brokers to journalists. By September, Beijing had even begun arresting employees of the regulatory body tasked with overseeing the plunge protection “national team.” In effect, the CSRC was investigating itself. Continue reading »
China’s aluminum and nickel producers have asked Beijing to buy up surplus metal, sources said, the first coordinated effort since 2009 to revive prices suffering their worst rout since the global financial crisis. China Nonferrous Metals Industry Association had suggested that the state buys 900,000 tonnes of aluminum, 30,000 tonnes of refined nickel, 40 tonnes of indium, and 400,000 tonnes of zinc. Or, in other words, “QE for metals.”
World’s largest cloning facility in China aims to produce a million cattle a year, along with other animals
The world’s biggest animal “cloning factory” is due to open in China, producing one million calves a year, sniffer dogs and even genetic copies of the family pet.“The mortality rate remains equally high. Many of the animals which are born alive die in the first few weeks, and they die painfully. Should we allow that?”Renate Sommer, European Parliament’s environment committee co-rapporteur Continue reading »
“Bogus AGW propaganda is put on the front pages,” says reader Argiris Diamantis.
“People are being brainwashed by the Dutch MSM, crucial information about the cooling, that is really happening is being withheld, and bogus AGW propaganda is put on the front pages.
“Heavy snowfall in China is reported in the Turkish mainstream media (MSM): “Meteorological snow gave the alarm in China”
“It is also reported in the Russian MSM:
Snowfall: the Beijing airport “Shoud” canceled about 200 flights”
“But not a word about this in the Dutch MSM. Instead they publish the news that the director of the KNMI (Dutch Meteorological Institute), Gerard van der Steenhoven, calls for an orange alert for Global Warming.”
“Such a heavy snowfall has not occurred often before,” said Sun Jun, chief forecaster at the Beijing Traffic Management Bureau.
On Thursday, the center had issued a warning on the coming blizzard and reminded residents in northern China of the sharp decline in temperature and possible traffic difficulties.
Key expressways were closed and flights were canceled on Sunday as a wide area of northern China was hit by a snowstorm that disrupted transportation. Continue reading »
“Tokyo will consider dispatching its Self-Defense Forces to the South China Sea, Prime Minister Shinzo Abe told U.S. President Barack Obama on Thursday, suggesting a possible role for Japan in patrolling those tense waters.”
On Tuesday, Chinese Vice Foreign Minister Liu Zhenmin told the press that contrary to the narrative being propagated by Washington and its allies in the South Pacific, Beijing had actually shown “great restraint” in the South China Sea.
China, Liu went on to explain, has tolerated the “occupation” of the disputed waters even as Beijing has “both the right and the ability to recover the islands and reefs illegally occupied by neighboring countries.” Essentially, Liu said China would be well within its rights to forcibly expel The Philippines, Malaysia, and Vietnam from the Spratlys. Continue reading »
One of the World’s largest independent sustainable agriculture medias, Sustainable Pulse, has been banned by the Chinese government in all of mainland China, shortly after ChemChina launched a failed $ 42 billion bid to buy the largest Global pesticide company – Syngenta.
The ban on Sustainable Pulse has been reacted to with anger by Chinese GMO-Free activists, who have used the media as a source of independent GMO and pesticide news over the last 4 years. Chinese sustainable agriculture expert Xie Xuren stated; “This is a disaster for freedom of information for all those who care about safe food and pesticide free agriculture in China.” Continue reading »
BEIJING — When a senior Chinese health official said last year that China would stop using prisoners’ organs for transplants as of Jan. 1, 2015, human rights advocates and medical professionals around the world greeted the announcement with relief.
It seemed to end a decades-long form of human exploitation in which hundreds, perhaps thousands, of organs of executed prisoners were harvested each year.
But organs from prisoners, including those on death row, can still be used for transplants in China, with the full backing of policy makers, according to Chinese news reports, as well as doctors and medical researchers in China and abroad. “They just reclassified prisoners as citizens,” said Huige Li, a Chinese-born doctor at the University of Mainz in Germany. Continue reading »
China and Russia too are run by TPTB.
To them this is a big game of chess and the people are the pawns that will be sacrificed.
While the world was following the tragic events unfolding on Friday night in France where hundreds of innocent civilians were killed or injured, an important economic development took place at the IMF, whose staff and head Christine Lagarde, officially greenlighted the acceptance of China’s currency – the Renminbi, or Yuan – into the IMF’s foreign exchange basket, also known as the Special Drawing Rights.
As Reuters summarizes, the recommendation paves the way for the Fund’s executive board, which has the final say, to place the yuan on a par with the U.S. dollar Japanese yen, British pound and euro at a meeting scheduled for November 30. At this point only an explicit veto by US political interests deep behind the stage can derail the CNY’s ascension into the SDR. The United States, the Fund’s biggest shareholder, has said it would back the yuan’s inclusion if it met the IMF’s criteria, a U.S. Treasury spokesperson said, adding: “We will review the IMF’s paper in that light.” Continue reading »
Roughly 21 tonnes, or 685,652 troy ounces of gold in .999 fine kilo bars, was withdrawn, net of a small deposit of 27,328 ounces, from the Brinks warehouse in Hong Kong yesterday.
To put that into some perspective, that is the same amount of all gold in the entire JPM warehouse in the US.
Brutal news is pouring in from pretty much everywhere.
US retail sales are flat and wholesale prices are falling. Big retail chains are missing on earnings and seeing their shares plunge.
Chinese nonperforming loans are soaring while imports, car sales and steel production are way down. Continue reading »
Over the past year many have been focusing on the collapse in commodity prices and speculating how this will impact China’s rapidly slowing economy (and reflexively, how much of this is driven by China’s rapidly slowing economy). They may be focusing on the wrong thing.
Because while it is now a virtual certainly that China’s commodity sector will undergo a wave on unprecedented business failures, which should (but may not) be accompanied by a default wave unlike anything China has seen before (quite literally: until last year, China had never seen an actual corporate default, as the government would always step in and bail out the debtor) a scarier prospect emerges when looking at what has been the biggest risk factor for China since day one, and the reason why China’s economy has to keep growing at 7% every year just to absorb the millions of new workers every year: an angry population, and millions of workers who suddenly see their wages plunge – or are left without a job – and turn violent on short notice. Continue reading »
If you have been watching for the next major global economic downturn, you can now stop waiting, because it has officially arrived. Never before in history has global trade collapsed this dramatically outside of a major worldwide recession. And this makes perfect sense – when global economic activity is increasing there is more demand for goods and services around the world, and when global economic activity is decreasing there is less demand for goods and services around the world. So far this year, global trade is down about 8.4 percent, and over the past 30 days the Baltic Dry Index has been absolutely plummeting. A month ago it was sitting at a reading of 809, but now it has fallen all the way to 628. However, it is when you look at the trade numbers for specific countries that the numbers become particularly startling. Continue reading »
US Defense Secretary Ashton Carter delivered a pointed warning of future wars Saturday in an address to a forum at the Reagan Library in southern California. The reckless and provocative character of the Pentagon chief’s speech is underscored by the targets of his saber-rattling: Russia, with the world’s second largest stockpile of nuclear weapons, and China with the third.
The subject of the forum was the restructuring of the military-intelligence apparatus to deal with the threats that strategists for US imperialism anticipate in the coming years. As Carter noted, “After 14 years of counterinsurgency and counter-terrorism–two skills we want to retain–we are in the middle of a strategic transition to respond to the security challenges that will define our future.” Continue reading »
Last week we reported that, as measured by its three primary means of transportation, global trade is in nothing short of freefall: to wit – “China Container Freight At Record Low; Rail Traffic Tumbles, Trucking Slows Down.” The slowdown in this most important metric of global growth (or lack thereof), one which unlike asset prices can not be manipulated by central banks through “printing” was confirmed when Maersk, the world’s biggest container shipping company, reported it would cut shore-side headcount by about 4,000, a reduction of about 17%. Continue reading »
Today we got yet another confirmation that China’s July announcement on its gold holdings merely broke the seal of accumulation when the PBOC reported that its total gold holdings as of October 31 had risen to a record $63.3 billion, up $2.1 billion from $61.2 billion at the end of September, and an increase of 14 tons based on the month-end LBMA gold fix price. This represents the fifth consecutive month in a row in which China has added to its gold.
The US military-intelligence complex is engaged in systematic preparations for World War III. As far as the Pentagon is concerned, a military conflict with China and/or Russia is inevitable, and this prospect has become the driving force of its tactical and strategic planning.
Three congressional hearings Tuesday demonstrated this reality. In the morning, the Senate Armed Services Committee held a lengthy hearing on cyberwarfare. In the afternoon, a subcommittee of the House Armed Services Committee discussed the present size and deployment of the US fleet of aircraft carriers, while another subcommittee of the same panel discussed the modernization of US nuclear weapons. Continue reading »
Following a recent report documenting the surge in empty malls littering China, many suggested that this is indicative of a shift to online shopping and migration to platforms such as Alibaba. That may well be the case, but unlike in the US where one is assured at least some quality control and has a rational expectation that what was ordered online is what will be delivered, in China the reality is far different. According to China’s official news agency, Xingua, more than 40% of goods sold online in China last year were either counterfeits or of bad quality, illustrating the extent of a problem that has bogged down the fast-growing online sector.
Last night we reported the shocking news that none other than “China’s Carl Icahn” (or its “Warren Buffett” depending on the news source), Xu Xiang – who has ranked China’s 188th richest man with $2.2 billion in net worth according to the Hurun rich list – had been arrested in what was the latest crackdown against “malicious short sellers”, with Bloomberg adding that Shanghai police raided hedge fund Zexi Investment on Sunday, taking away computers and other materials, “in the latest attempt by Chinese authorities to crack down on strategies blamed for exacerbating a $5 trillion stock-market rout.”
Ok, this is China: crazy things happen all the time. But where things got outright ridiculous, was when moments ago when as China National Radio reports, Wu Shuang, a partner of Xu Xiang’s at Zexi, and also an insider trading suspect, was shot and killed by Chinese police when he “resisted and tried to escape.”
Some of the world’s biggest investors have been taking significant positions in the commodity resource sector as of late, most notably in gold. With geopolitical tension and fear of economic breakdown reaching a near boiling point, it’s not difficult to see why. Instability pervades the entire system, encompassing everything from financial markets to social safety nets. And while it is easy to ignore the seriousness of current events because stock markets remain at record highs and mainstream pundits continue to toe the recovery line, the fact is that an unexpected and seemingly minor event could well send the entire world into a tailspin.
According to analyst John Kaiser, this is exactly what we need to be concerned with. In a candid interview with Future Money Trends Kaiser explains just how political dislocations could result in supply lines to critical commodities like food, copper, zinc and gold being cut – even without a major war – should the United States, Russia and China continue to bump heads.
Forget about the big, giant macro-economic increases in overall global GDP, but instead let’s look at the turbulence we’re starting to see where China is asserting itself in the South China Sea area… where Putin is eyeing its lost colonies in Europe and Central Asia and thinking maybe we should re-establish the Soviet empire… where we see instability in the middle east. Continue reading »
The most anticipated economic release over the weekend was the early glimpse into China’s manufacturing and non-manufacturing sectors via the two key PMI surveys released by China’s National Bureau of Statistics, to get a sense if the slowdown across China is stabilizing or, as some have suggested, rebounding. It did not: overnight the NBS reported that the manufacturing PMI remained unchanged in October at 49.8 missing consensus estimates of a modest rebound to 50.0, its third consecutive month in contraction territory.…
H/t reader squodgy:
“Being on the other side of the world, this issue is small fry, but I was making a ‘contact us’ call the other day & asked my helper where he was.“The Philippines” was his response.I sighed, but it made a change from Mumbai & Delhi.So I asked him about the pressure I believed they were under to allow the USA back in for military bases.It seems they want them back desperately to fend off Chinese expansionism all around the area, even though the multiple typhoon hits linked to HAARP have forced them to embrace familiar US support. Messy. Devious & typically American “John Perkins” syndrome.
THE HAGUE, Netherlands (AP) — An international tribunal ruled Thursday that it can take on a case between China and the Philippines over disputed territory in the South China Sea, overruling objections from Beijing that the arbitration body has no authority to hear the case.
The Philippine case, which was filed before the tribunal in The Hague in January 2013, contends that China’s massive territorial claims in the strategic waters do not conform with the 1982 U.N. Convention on the Law of the Sea and should be declared invalid. The Philippines also asserts that some Chinese-occupied reefs and shoals do not generate, or create a claim to, territorial waters. Continue reading »
The Republic of China Army Aviation (RoCAA; Taiwan) has extreme difficulties keeping its 29 new AH-64E Apache Guardian attack helicopters airborne. Part of the problem is a discovered material failure due to faulty production by Boeing.