Jun 26

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China’s powerful new rocket makes a successful debut launch:

China’s developing space program took another major step forward on Saturday with the launch of its Long March 7 rocket, a new class of booster capable of lifting up to 13.5 metric tons to low-Earth orbit (LEO). The primary payload of the flight was a dummy version of its next-generation crew capsule and some CubeSats. Continue reading »

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Jun 26

Tesla signs $9 billion agreement to build factory in China, report says:

Tesla Motors has reportedly signed a non-binding agreement with Chinese government-owned company Jinqiao Group to construct a Tesla production plant in the city of Shanghai.

All told, the investment could cost $9 billion, a person close to the matter told Bloomberg. Continue reading »

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Jun 26

Watch the video here:

Watch these baseball-sized chunks of hail destroy cars in a Chinese parking lot:

A violent hailstorm hit China’s Shanxi province. Watch as baseball-sized pieces of hail smash through car windows.

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Jun 23

Chinese Bankruptcies Surge More Than 50% In Q1; Worse To Come:

Chinese bankruptcies have surged this year “as the government uses the legal system to deal with “zombie” companies and reduce industrial overcapacity as part of a broader effort to restructure the economy.” In just the first quarter of 2016, Chinese courts have accepted 1,028 bankruptcy cases, up a whopping 52.5% from a year earlier, according to the Supreme People’s Court.

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Jun 20

GOING EAST:

I’m sure the Chinese just like shiny stuff. They have trust in the U.S. fiat currency and its dominance as the world currency. Right?

Silver-SGE-AG-Delivery

Gold-SGE-AU-Delivery

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Jun 18

FYI.


Hong Kong Bookseller Who Was ‘Disappeared’ By Chinese Authorities Tells Of What Happened:

It’s no secret that the Chinese government is quite comfortable ‘disappearing’ people that are causing a problem for the communist regime. However, the latest case of a disappearance (that we’re aware of) is most interesting. Beginning late last year, five booksellers from the shop Causeway Bay Books in Hong Kong went missing, and all of them later surfaced in China in police custody for illegally trading banned books in mainland China… Now one of the booksellers is telling his story: “I couldn’t call my family. I could only look up to the sky, all alone.”, “they wanted to lock you up until you go mad”

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Jun 17

The Stock Market Crash Of 2016: Stocks Have Already Crashed In 6 Of The World’s 8 Largest Economies

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Jun 17

Alaska, Finland, China, Russia, New York State JUNE SNOW – Video:

Crop Losses Follow

Rare Snowstorms abound across the planet. Mid-June and every continent received snow across both hemispheres. Record snows in Argentina/Chile, New York state, Russia, China, Finland

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Jun 16

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“When The Dragon Roars” – ASEAN Officials Unleash Statement Critical Of China… Then Immediately Retract:

“We expressed our serious concerns over recent and ongoing developments, which have eroded trust and confidence, increased tensions and which may have the potential to undermine peace, security and stability in the South China Sea.” That is what was said in a statement issued by the Association of Southeast Asian Nations (ASEAN)… before it was immediately retracted.

Following a China-ASEAN meeting in the southern Chinese city of Yuxi, an ASEAN statement was issued by Malaysia’s Foreign Ministry that expressed deep concerns over tensions in the South China Sea, however just hours later the statement was mysteriously retracted. Continue reading »

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Jun 14

China Now Has A Flying Propaganda Machine:

The Chinese military has a new warplane with an unusual purpose: to beam propaganda and disinformation into hostile territory.

In that way, the new, four-engine Y-8GX7 psychological operations plane—also known by its Chinese name, Gaoxin-7—is analogous to the U.S. Air Force’s EC-130J, which it says “conducts military information support operations and civil affairs broadcasts in F.M. radio, television and military communications bands.” Continue reading »

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Jun 11

Beijing to build 10,000ft deep underwater lab in South China Sea:

China plans to continue to develop the South China Sea. This time, Beijing has set a goal to build an oceanic ‘space station’, as deep as 3,000 meters underwater, Bloomberg reports, quoting a Science Ministry presentation.

If successful, this will be the first project for long-term human habitation at such depths. 

“Having this kind of long-term inhabited station has not been attempted this deep, but it is certainly possible. Manned submersibles have gone to those depths for almost 50 years. The challenge is operating it for months at a time,” Bryan Clark from the Washington-based Center for Strategic and Budgetary Assessments told Bloomberg. Continue reading »

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Jun 09

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Model Y-20 Transport

China Orders 1,000 Heavy Transport Aircraft “Based On The Experience Of The United States And Russia”:

As tensions escalate to dangerous levels in the South China Sea and in eastern Europe, an interesting decision has been made be the Chinese government.

According to Sputnik, back in January the People’s Liberation Army Air Force was preparing to develop a new fleet of stealth fighters and heavy transport aircraft. The heavy transport aircraft, the Xian Y-20 transport, was going to be built in order to give Beijing a “fast and reliable platform” to deliver arms and soldiers over long distances. Continue reading »

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Jun 09

Snow Strikes China’s Northernmost Province – Video:

Analysts say it is unusual to see snow at this time of year.

1 Jun 2016 – Snow fell in the city of Mudanjiang of China’s northernmost province of Heilongjiang Tuesday morning at the beginning of summer.

The snow lasted for about five hours and accumulated to about 10 centimeters in some areas.

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Jun 07

US Seeks “Total Ban” on Chinese Steel: Alarm Bells Ring Over “Nuclear” Option:

Protectionists are on the cusp of a “Pyrrhic victory” over China.

No one will like the results when it happens.

A huge global trade war is on the horizon, regardless of whether Hillary or Trump wins the election.

The die is cast: US Steel Given Green Light to Seek China Import Ban. Continue reading »

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Jun 07

China’s Real Unemployment Rate Is Three Times Higher Than The Offical Number:

Based on a new report by Fathom Consulting, it appears that China is also dramatically misreporting what may be the one most critical for social stability metric, its unemployment rate, which when stripped away of the political propaganda, is more than three times greater than the officially reported rate. According to Fathom, China’s underemployment Indicator has tripled to 12.9% since 2012 even while the official jobless rate has hovered near 4% for five years.

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Jun 06

Goldman Finds That China’s Debt Is Far Greater Than Anyone Thought

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Jun 01

teaser china uber_0

What Happens When Thousands Of Chinese Cab Drivers Get Pissed At Uber

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May 30

Russian IL-96

Russian-Chinese passenger jet to take on Boeing & Airbus:

Moscow and Beijing are to sign a deal to produce a new wide-body passenger aircraft by end of June, reports Life News citing Russian ministerial sources.

The project is part of a reported $13 billion aviation cooperation deal signed in 2014 during President Vladimir Putin’s visit to China.   Continue reading »

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May 28

China Warns The World: America Is The “Greatest Threat To Peace & Stability”:

It is no secret that the relationship between the United States and China has been strained for quite some time. Earlier this month when the US sailed its guided missile destroyer the USS William P. Lawrence within 12 nautical miles of Chinese-occupied Fiery Cross Reef, it ended in China scrambling of two fighter jets and three warships to shadow the destroyer and convince it to leave the area.

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The US admitted that it sailed the USS William P. Lawrence by the disputed island in order to “challenge excessive maritime claims” made by China. In turn, China had this to say about the US effort: “This action by the U.S. side threatened China’s sovereignty and security interests, endangered the staff and facilities on the reef, and damaged regional peace and stability.Continue reading »

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May 25

China Is Executing To Plan: Foxconn Replaces 60,000 Workers With Robots:

The ultimate goal of China’s latest Five-Year-Plan is to overtake Germany, Japan, and the United States in terms of manufacturing sophistication. To make that happen, the government needs Chinese manufacturers to adopt robots by the millions. The manufacturing hub for the electronics industry, Kunshan, in Jiangsu province is proving that that initiative is well underway. The transition from human to robot workers may upend Chinese society. “You can make the argument that robotic technology is the way to save manufacturing in China,” says Yasheng Huang, a professor at MIT’s Sloan School of Management. “But China also has a huge labor force. What are you going to do with them?” For now, that question remains unanswered, but that won’t stop from unleashing the biggest robotic revolution seen in recent years.

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May 24

May 24, 2016

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May 23

De-Petrodollar-ization Esclates – China Imports Record Amount Of Russian Oil In April:

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar. Of course, as the US has been playing geopolitical games, China and Russia have been working on strengthening their relationship with one another. At the end of 2015, China had become Russia’s biggest oil customer, and as of April, Russian oil shipments to China hit a record high. Russia has also surpassed Saudi Arabia as the biggest crude exporter to China.

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May 23

China Has Quietly Bailed Out Over $220 Billion In Bad Debt In The Past 2 Months:

Today we learned that not only was China going through with its unprecedented debt-for-equity swap, but it has already equitized over $220 billion in non-performing loans. Note: these are not traditional, Chapter 11 prepacks where the debt is converted into equity and the debt holder gets the keys to the company. In this case, it is the Chinese government itself which indirectly via state-owned banks, has become the de facto owner of countless companies.

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May 21

Massive snowstorm pounds parts of northwest China – Video

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May 20

China Demands US “Cease Immediately” Provocative Spy Plane Missions Near Its Borders:

Just days after a report that two Chinese J-11 fighter jets buzzed a US spy plane above the South China Sea, Beijing has officially escalated its displeasure at US surveillance up the chain of command and as Reuters reports, Beijing has demanded an end to all U.S. surveillance near China.  “It must be pointed out that U.S. military planes frequently carry out reconnaissance in Chinese coastal waters, seriously endangering Chinese maritime security,” China’s Foreign Ministry spokesman Hong Lei Hong told reporters, adding that  “we demand that the United States immediately cease this type of close reconnaissance activity to avoid having this sort of incident happening again.”

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May 20

H/t reader squodgy:

“Now in view of the BDI, Caterpillar, Truck orders and so on, this was inevitable, and about two years overdue.

I still don’t understand why these geniuses didn’t see the writing on the wall when it was obvious five years ago that economic growth was unsustainable.

Bloody fools.”


Shipbuilding Industry Collapses, Hits China and South Korea:

Global overcapacity, plunging demand, and a price war

In the first quarter, South Korean shipbuilders saw their orders collapse by 94.1% to 170,000 compensated gross tons (CGT), compared to the prior year. In terms of dollars, orders collapsed 94% from $6.5 billion in Q1 2015 in to just $390 million.

Global orders for new vessels in Q1 have collapsed too, but slightly less, according to the Export-Import Bank of Korea, cited by IHS Fairplay: down 71% year-over-year to 2.32 CGT. Continue reading »

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May 19

China Furious After US Launches Trade War “Nuke” With 522% Duty:

Now that China’s brief infatuation with “rationalizing” excess capacity in its massively glutted (and insolvent) steel sector is over after lasting all of 2-3 months, China is back to doing what it did in late 2015 (and what it has always done) when as we reported, a surge in Chinese exports led to the first salvos in the trade war between China – the world’s biggest exporter of various steel products and is responsible for half the entire world’s steel output – and countries who are importing dumped Chinese products at the expense of their own steel and mining industries.

Nowhere has this trade tension been more obvious than in the UK, where in recent months angry, protesting steel workers have been demanding rising protectionist steps against a country they, rightfully, see as unleashing a global commodity deflation driven by out of control, and unprofitable by highly subsidized, production by Chinese steel mills. Continue reading »

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May 18

Chinese Fighter Jets Fly Within 50 Feet Of US Spy Plane Near China

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May 18

China Agriculture Ministry: No Approval for Monsanto’s RR2 Xtend GMO Soybeans

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May 16

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China’s Largest Bank Is Quietly Cornering The Market For London Physical Gold

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