Tag Archives: China

China: Regime officials recommend slowing or halting US bond purchases

Source: Reuters

“Officials reviewing China’s vast foreign-exchange holdings have recommended slowing or halting purchases of U.S. government bonds, seeing the market for them as becoming less attractive, Bloomberg News said on Wednesday. The report helped push yields of U.S. Treasuries to multi-month highs and caused the U.S. dollar to fall. China has the world’s biggest currency reserves, approximately $3 trillion, and is the biggest foreign holder of U.S. government debt, with $1.19 trillion in Treasuries as of October 2017, data from the Treasury Department show.” (01/10/18)


China: Regime reportedly orders crackdown on Bitcoin mining

Source: Sputnik News [Russian state media]

“A Chinese watchdog for internet financial risk has reportedly ordered local governments to implement measures to limit Bitcoin mining in the country. On Friday, a tweet was posted online which appears to show a notice from China’s Internet Financial Risk Special Rectification Work Leadership Team Office, the country’s online financial risk regulator. The order requests that local governments gradually force Bitcoin miners out of the business. Measures which local authorities are instructed to use include control of the power supply to Bitcoin mines, as well laws regarding tax, land use and environmental protection. More than two-thirds of the world’s processing power devoted to bitcoin mining is located in China, but authorities there want to clamp down on the sector. They fear that cryptocurrencies are used as a tool for speculation and thereby fuel financial risk. In addition, it is feared they may be used to finance illegal activities including money laundering.” [editor’s note: What is ACTUALLY feared is that the Communist Party will lose control of the movement of wealth in the country. That’s a rational fear for an authoritarian regime to have. It’s also going to happen no matter what crackdowns occur – TLK] (01/08/18)


Iranian oil tanker burns, 32 missing after collision off China’s coast

Source: Reuters

“A tanker carrying Iranian oil and run by the country’s top oil shipping firm was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese freight ship, leaving the tanker’s 32 crew members missing, the Chinese government said. Thick clouds of dark smoke could be seen billowing out of the Sanchi tanker, engulfing the vessel as rescue efforts were hampered by bad weather and fire on and around the ship, Mohammad Rastad, head of Iran’s Ports and Maritime Organisation, told Iranian television.” (01/07/18)


Shadow armies: The unseen, but real US war in Africa

Source: Antiwar.com
by Ramzy Baroud

“There is a real — but largely concealed — war which is taking place throughout the African continent. It involves the United States, an invigorated Russia and a rising China. The outcome of the war is likely to define the future of the continent and its global outlook. It is easy to pin the blame on US President Donald Trump, his erratic agenda and impulsive statements. But the truth is, the current US military expansion in Africa is just another step in the wrong direction. It is part of a strategy that had been implemented a decade ago, during the administration of President George W. Bush, and actively pursued by President Barack Obama.”: (01/03/18)


Trump accuses China of allowing oil into North Korea

Source: CNN

“President Donald Trump said Thursday that he is ‘very disappointed’ in China for allegedly selling oil to North Korea, tweeting that the on-again, off-again Trump ally was ‘caught red handed’ allowing oil to be imported by the rogue regime. The tweet, which came as Trump was on his golf course in Palm Beach County, comes after outlets in South Korea reported that satellites have spotted Chinese ships transferring oil to North Korean vessels. Trump said that if this practice continues, there will ‘never be a friendly solution to the North Korea problem.’ A White House official and multiple National Security Council officials were unable to explain the President’s tweet and did not respond to questions about whether he was referring to the recent reports from South Korea.” (12/28/17)


China: Regime court sentences “Ultra Vulgar Butcher” activist to eight years in prison

Source: New York Daily News

“A prominent activist who called himself the Ultra Vulgar Butcher as he mocked and pressured Chinese officials was given an eight-year prison sentence Tuesday for subversion, the harshest sentence handed down in a sweeping crackdown on rights campaigners. The Tianjin No. 2 Intermediate People’s Court handed down the sentence after finding activist Wu Gan guilty of subverting state power. … Wu had become known among rights advocates and lawyers for his attention-grabbing campaigns. In one, he posed for online portraits brandishing knives that he said he would use to ‘slaughter the pigs’ among local officials who’d done wrong. In court on Tuesday, Wu struck an irreverent note in his remarks following the sentence, saying he was ‘grateful to the party for granting me this lofty honor,’ according to Ge [Yongxi, his attorney], who was in court.” (12/26/17)


China: Central bank official suggests decentralization, Detroit-style bankruptcies for local governments

Source: Yahoo! News

“China needs to let local governments take responsibility for their finances, including allowing bankruptcies, as part of an effort to defuse their debt risks, a central bank official wrote on Monday. Central government control of the scale of local government bonds should be eliminated, while responsibility to issue and repay bonds should be held by the city or county that will actually use the funds, Xu Zhong, head of the People’s Bank of China’s research bureau, wrote in a an editorial on the financial news website Yicai. … Xu also said that China should dismantle the hukou system of internal migration control, as free movement of people promoted equal access to public services and helped resolve imbalances in finances.” (12/25/17)


Chinese warplanes play same game with South Korea that US forces play with North

Source: Korea Times [Republic of Korea]

“Five Chinese military aircraft including two bombers entered the Korean Air Defense Identification Zone (KADIZ) without prior notification Monday, causing [sic] South Korea to dispatch its fighter jets. The Joint Chiefs of Staff (JCS) said the Air Force’s Master Control and Reporting Center detected two H-6 bombers, two J-11 fighter jets and one TU-154 reconnaissance plane entered the KADIZ from southwest of Ieodo at 10:10 a.m. … Beijing said that the flight was part of a routine exercise and that it had no intention of infringing South Korea’s territorial airspace, the official said. An air defense identification zone is airspace over land or water that a country establishes to identify and control possibly hostile aircraft in the interests of national security. The concept of an ADIZ is different from that of territorial airspace, and is not defined in any international treaty.” (12/18/17)


China — leading indicator?

Source: Cobden Centre
by Colin Lloyd

“Chinese 10yr bond yields have been rising steadily since October 2016. They never reached the low or negative levels of Japan or Germany. 1yr bonds bottomed earlier at 1.76% in June 2015 having tested 1% back in 2009. The pattern and path of Chinese rates is quite different from that of US Treasuries. Last month rates increased to their highest since 2014 and the Shanghai Composite index finally appears to have taken notice. The divergence, however, between Shanghai stocks and those of the US is worth investigating more closely.” (12/14/17)


China: Regime reportedly plans refugee camps on North Korea border

Source: The Telegraph [UK]

“China is planning to build refugee camps on its border with North Korea in what is being seen as an indication that Beijing is preparing for a potential conflict. Five locations in China’s north-eastern Jilin province have been identified as potential sites for refugees. The sites were listed in a document that was apparently leaked from China’s biggest telecommunications company, China Mobile, and then posted on social media. The document, which was first reported in English by the Financial Times, has since been deleted from the Chinese Internet, but an unverified copy has been re-published by news websites outside mainland China.” (12/12/17)