CHINA | WHAT REALLY HAPPENED

CHINA

Nov 10 13:48

China may be bigger economy than US within two years

Here’s a finding that will have any red-blooded American spluttering into his cornflakes. According to the Conference Board, a highly respected economic research association, China will overtake the US as the world’s biggest economy by 2012, or within two years.

OK, so in dollar terms, that’s obviously not going to be the case. It will be a lot longer than two years before China overtakes the US on that measure. But in terms of purchasing power parity, according to the Conference Board’s latest world economic outlook, China is already nearly there, and by 2020 will have reached a size of output which is nearly half as big again as the US.

Nov 10 10:46

US-Sino Currency Rap Battle

Nov 10 07:01

Chinese father punished for food safety activism

BEIJING – A father who organized a support group for other parents whose children were sickened in one of China's worst food safety scandals was convicted and sentenced Wednesday to 2 1/2 years in prison for inciting social disorder, his lawyer said.

Nov 10 06:57

China's Lead Credit Rating Agency Downgrades U.S., Second Time This Year

China’s Dagong Global Credit Rating Co. reduced its credit rating for the U.S. to A+ from AA, citing a deteriorating intent and ability to repay debt obligations after the Federal Reserve announced more monetary easing.

Nov 09 12:49

US Black Debt Hole: 'We want you all bankrupt!'

US is starting a war with China - by asking China to go bankrupt to save the US.

Nov 09 10:26

China's Dagong Downgrades U.S. to A+ on Quantitative Easing, Xinhua Says

China’s Dagong Global Credit Rating Co. cut its credit rating for the U.S. to A+ from AA because of a Federal Reserve plan to purchase bonds to spur growth and inflation, according to Xinhua News Agency.

Webmaster's Commentary: 

Now there is a good reason for Obama to fire off an ICBM in the general direction of China!

Nov 08 09:15

Chinese Astronauts Could Land on Moon by 2025

China will be able to land two to three astronauts on the moon by 2025, with the South Pole the most likely landing site, authorities of the Chinese lunar exploration program said.

Webmaster's Commentary: 

Something else the United States used to be able to do but cannot any longer.

Does anyone here comprehend what the future would be like had we taken that $14 trillion poured over Wall Street to save them from the derivatives disaster of their own making and instead spent it on research into new technology, new products, and new industry? We would have Thorium reactors, photonics, fusion both hot and cold, cheap desalinization, hydrogen technology, Maglevs, SSTs; in short a clean 21st Century world and a non-petroleum energy base. We would not have to wage world wars over oil and water.

But apparently in the eyes of the US Government, still mired in the mindset of the mid-20th Century, your money and future indebtedness were better spent keeping billionaires in their mansions, instead of throwing them in jail with Bernie Madoff-with-the-loot!

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Nov 05 19:35

China quarantine bureau rejects U.S. GMO corn cargo

China's quarantine bureau confirmed on Tuesday it had discovered traces of an unapproved genetically modified organism (GMO) in a U.S. corn cargo and had refused it entry into China.

Nov 05 09:34

U.S. dollar printing is huge risk -China c.bank adviser

Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.

Nov 05 01:43

China accuses US of protectionism

China has accused the US of trade protectionism after the Federal Reserve announced plans to pump $600 billion into the country's market to speed up the economic recovery.

Nov 04 08:11

Chinese Professor-The Real Translation

Nov 04 00:39

THE SECRET OF CHINA’S MIRACLE ECONOMY: THE GOVERNMENT OWNS THE BANKS RATHER THAN THE REVERSE

How can China’s stimulus plan be working so well, when ours is barely working at all? The answer may be simple: China has not let its banking system run roughshod over its productive economy. Chinese banks work for the people rather than the reverse.

Nov 01 15:51

Seeing Red: US slams China in major smear campaign

China's emergence as a major economic superpower has raised concern among policymakers in Washington. They fear Beijing's rise could result in a U.S. fall.

Oct 31 08:34

China-bashing is bipartisan in US races

In these angry political times, Democrats and Republicans agree on next to nothing. China is one exception. Democrats and Republicans alike are accusing each other of cozying up to Beijing and backing policies that send U.S. jobs and IOUs to the world's second-largest economy.

Webmaster's Commentary: 

China is not the problem for America's financial woes.

Governmental policies which make offshoring of jobs financially attractive, is a big part of the problem.

Congress needs to incentivize corporations to keep good-paying jobs here.

To fund the illegal and immoral wars without end it is conducting, the Federal government has borrowed like a drunken sailor. It is high time to defund these wars, and focus on improving infrastructure here at home.

The Fed needs to be disbanded, and the US government needs to create and control the money, and money supply here in the US.

All of these steps, taken together, could make a major difference in the lives of this country's citizens: bashing China for the US government's self-inflicted wounds of bad policy decisions, domestically and internationally, will do nothing to remedy the situation at all.

Oct 30 09:41

China's Creative Accounting: Using Debt as an Instrument of Economic Development

China’s government can direct its banks to advance credit in the national currency as needed, because it owns the banks. Ironically, the Chinese evidently got that idea from us. Sun Yat-sen was a great admirer of Abraham Lincoln, who avoided a crippling national debt by issuing debt-free Treasury notes during the Civil War; and Lincoln was following the lead of the American colonists, our forebears. We need to reclaim our sovereign right to fund the common wealth without getting entangled in debt to foreign creditors, through the use of our own government-issued currency and publicly-owned banks.

Oct 30 04:59

Empire - The Asian Arms Race

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Oct 28 21:46

China Creates World's Most Powerful Supercomputer... the fall of America

NVIDIA Tesla GPUs Power World's Fastest Supercomputer
Half the Size, Lower Power and 50% Faster Than World's Top (American) Supercomputer

With the addition of the new supercomputer, China now has two of the three most powerful supercomputers in the world. The third most powerful one -- previously in second place -- was the Nebulae supercomputer located in Shenzhen, which also uses NVIDIA's Tesla GPUs. It has a peak capacity of 1.271 petaflops in LINPACK.

Tianhe-1a kicks an American computer out of the top spot. The Jaguar supercomputer built by Cray at Oak Ridge National Laboratory (ORNL) in Oak Ridge, Tennessee is now only the world's second most powerful computer. That machine, powered by its thousands of Opteron cores, posted 1.75 petaflop LINPACK performance.

sources:

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Oct 28 06:13

Globalization Creates Unemployment: American Job Loss Is Permanent

The correct conclusion is that the US trade deficit with China is the result of “globalism” or jobs offshoring, not Chinese currency manipulation.

An important point always overlooked is that the US is dependent on China for many manufactured products including high technology products that are no longer
produced in the US. Revaluation of the Chinese currency would raise the dollar price of these products in the US. The greater the revaluation, the greater the price rise. The impact on already declining US living standards would be dramatic.

When US policymakers argue that the solution to America’s problems is a stronger Chinese currency, they are yet again putting the burden of adjustment on the out-of-work, indebted, and foreclosed American population.

Oct 27 08:49

China Bullet Train Becomes World's Fastest

China rolled out its fastest train yet on Tuesday and announced that the Three Gorges Dam, the world's biggest hydroelectric project, is now generating electricity at maximum capacity -- engineering triumphs that signal the nation's growing ambitions as its economy booms.

Webmaster's Commentary: 

Note that the US, whose state and Federal officials have talked about this technology for years, have yet to establish a bullet train system in this country.

In fact, in the US, infrastructure is crumbling, and there are utterly no funds for necessary repairs and retrofits of roads, bridges, and dams.

Oct 26 22:33

Chinese Professor

Webmaster's Commentary: 

"Actually, our solution is to borrow everything the other nations will let us, then nuke everybody we owe money to. Pretty cool, huh?" -- Official White Horse Souse

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Oct 21 15:51

China stops rare earth minerals to US

Oct 20 16:20

Analysis: How China’s Got Us Over a Barrel on Rare Earths,

Since late September, the Japanese have accused China of cutting off exports of rare earths. Prices worldwide are reportedly soaring...And now it seems China will halt some of those mineral exports to the United States as well.

Here’s why you should care: By the 21st century, rare earths had become essential to global commerce. Take a look around you. There are probably plenty of things that depend on them.

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Oct 19 11:49

Surprise Move by China on Interest Rates Rattles Markets

China’s central bank unexpectedly announced Tuesday that it would raise interest rates for the first time in nearly three years, apparently in the hopes of dampening inflation and cooling off this country’s hot property market.

Webmaster's Commentary: 

If that one move spooked the DOW down 200 points, then our stock market is fragile indeed!

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Oct 18 08:48

The Number One U.S. Export To China: Waste Paper And Scrap Metal

Historians tell us that by the very end of the Roman Empire, goods were pouring into Rome from all over the known world, but about the only thing being sent out of Rome was human waste and garbage. America has not yet reached that point, but we are certainly well on our way. In 2010, the number one U.S. export to China is "scrap and trash". Yes, you read the correctly. The number one thing that China buys from us is our garbage. According to author Clyde Prestowitz, China's number one export to the U.S. is computer equipment (nearly $50 billion) while our number one export to them is waste paper and scrap metal (approximately $8 billion). When it comes to world trade, China is literally wiping the floor with the United States. In August, the U.S.

Oct 17 07:10

China rejects clean energy probe, calls US unfair

Joe McDonald
Associated Press

BEIJING — A senior Chinese official rejected a U.S. trade complaint about Beijing's clean energy policy and said Sunday that Washington might be improperly supporting its own industry.

Oct 17 01:05

Gold Will Eventually Replace Floating Fiat Currency Trade Regime

But anyone with curiosity and a brain could see that the fun times were due not to inflation being banished but rather, roosting temporarily at the Bank of Japan! Who, along with China, kept inflation at bay in order to undermine US industries. Now that the colonization of the US is nearly done, both are toying with releasing all these captive inflationary dollars. If they want something, all they have to do it talk about launching ‘Sovereign Wealth Funds’ and have this money return to the US in the form of buying out the last of our infrastructure and commodity resources! OOPS.

Oct 16 17:28

Poets and political activists: the case of Liu Xiaobo

Paul J. Balles considers the Norwegian Nobel Committee's decision to award Chinese dissident and poet Liu Xiaobo the Nobel Peace Prize by looking at the qualities that are common to poets and political activists.

Oct 16 14:06

Press TV talks to Paul Sheldon Foote on US Economy

This Professor is brilliant!
Watch out for the 3rd of November...

Oct 16 06:21

Administration Launches China Trade Investigation

Martin Crutsinger
Associated Press

WASHINGTON — The Obama administration announced Friday it will delay a scheduled report on whether China is manipulating its currency to gain trade advantages until after upcoming meetings with world leaders next month.

Oct 15 16:33

U.S. is Currency War's "Tomb Maker": China Economist

http://www.informationclearinghouse.info/article26600.htm

(Reuters) - The United States fired the first shot in the currency war and the rest of the world must be on guard for its deliberate strategy to devalue the dollar, a Chinese economist said in an official newspaper on Thursday.

In a front-page commentary in the overseas edition of the People's Daily, Li Xiangyang described the United States as the conflict's "first maker of tomb figures," a Chinese idiom that means someone who creates a bad precedent.

Li, head of the Asia department at the Chinese Academy of Social Sciences, a top government think tank, said continued intervention in currency markets by developed economies would deal a blow to global economic recovery.

Oct 15 15:58

Obama faces tough choice on whether to confront China on exchange rate

The President is under pressure to punish China for trade policies that US legislators say have cost millions of US jobs.

(*Wait a second , Obie . It isn't The Chinese who are stealing jobs and creating a trade deficit . IT'S THE SPACE ALIENS ! )

Oct 15 15:47

Team Obama punts on China currency until mid-November

For the second time this year, the Obama administration delayed Friday the release of a report on whether China manipulates its currency, but deflected some of the political heat from angry Democrats by launching an unrelated trade probe.

At issue is whether China deliberately undervalues its currency to make its exports cheaper abroad and imports from other countries more expensive at home. The International Monetary Fund recently said that China's currency, the yuan, is significantly undervalued.

(*Something tells me that 'this one' is going to get 'pushed back' , again , and again . )

Oct 13 09:40

Pipelineistan’s New Silk Road

Future historians may well agree that the 21st century Silk Road first opened for business on Dec. 14, 2009. That was the day a crucial stretch of pipeline officially went into operation linking the fabulously energy-rich state of Turkmenistan (via Kazakhstan and Uzbekistan) to Xinjiang province in China’s far west.

Meanwhile, in the New Great Game in Eurasia, China had the good sense not to send a soldier anywhere or get bogged down in an infinite quagmire in Afghanistan. Instead, the Chinese simply made a direct commercial deal with Turkmenistan and, profiting from that country’s disagreements with Moscow, built itself a pipeline which will provide much of the natural gas it needs.

Webmaster's Commentary: 

As I have pointed out many times, China's leadership has been thinking long-term about the elements it will need to insure economic growth, and has been making deals to get its energy needs met.

The US has been waging war to accomplish the same outcome, with horrifically negative results, including placing the Federal Government precipitously close to bankruptcy.

Oct 13 08:20

China's Pipelineistan "War"

The Chinese get what they want through contract and negotiation not war.

Oct 12 11:04

Chinese warplanes refueled in Iran en route to Turkey


Iran indirectly supported a secret military drill between the Turkish and Chinese air forces that took place in September, sparking concerns in the United States, daily Hürriyet reported Monday

Oct 11 11:00

China UFO - Shenlong Space Plane Advances China’s Military Space Potential

While both unmanned and manned space planes could serve a range of scientific and commercial missions, it is also clear that the PLA envisions such vehicles to perform military missions. Chinese military literature has long suggested the PLA seeks to dominate outer space and its successful January 11, 2007 interception and destruction of a satellite demonstrated the PLA now has an initial space combat capability not currently possessed by the United States.

Webmaster's Commentary: 

BUMP BACK TO THE TOP

Now, this gets interesting. The real videos of the China UFO (not the obvious fakes with disks and lights) clearly show an ultra-high atmospheric vehicle in operation, with at least a portion of the flight above the atmosphere. Whether what was seen in the Chinese sky was the Shenlong, Hermez, or the "601" H-2, the message is clear. Whether weaponized or not, China's space program has jumped way beyond that of the United States.

So why the UFO cover story?

Simple. America's self-image is in large part linked to the Apollo Moon program and America's achievements in space during the 1960s, 1970s, and 1980s. But the shuttle fleet is about to be retired after suffering a 40% loss rate, and the replacement shuttle, along with the return to the Moon, have been cut from NASA's budget by the Obama administration. Indeed NASA is but a thin shadow of its former self, like NOAA mostly used for propaganda value to support the push for a global carbon tax. After the last shuttle flies, Americans will no longer be able to fly into space; our crews will have to hitch rides on other nations' rockets.

So now as the USA loses its space-faring capability comes a dramatic demonstration that China has advanced into some amazing new technologies. The USA failed to keep up because once again short-sighted government policy squandered the technology lead created by the Apollo program in the 1960s.

This is a major embarrassment for the US government, especially just before an election, especially for the President and the Congress that gutted NASA to shower money all over Wall Street and buy F-35s for Israel.

Now, in studying the video I think that what was over the skies of China was not specifically the Shenlong. The Shenlong is a non-staged vehicle and in the below video what appears to be a staging event is seen at 30 seconds.

From the flight performance, and staging, I think we are dealing with a larger vehicle, like the Aurora a high altitude transport that deploys a much smaller exo-atmospheric vehicle. And this Chinese image showing potential designs for manned space shuttles includes such a design, possibly the Horizontal take-off and completely reusable H-2. This talk of UFOs is intended to conceal from the voters and taxpayers that other nations have taken the lead in space away from the United States.

Sooner or later China will fly this machine over the United States with impunity in a replay of the days when the US sent the U-2 and later the SR-71 over the USSR knowing that (with the sole exception of the sabotage which brought down Francis Gary Powers) the Soviets could do nothing about the flights. Pre-conditioning the Americans to shout UFO when the glowing contrails appear in the night sky allows the US Government to pretend that at least here on Earth, American technology still reigns supreme.

Even if we avoid war with China, what remains of America's manufacturing is based on sales of weapons promoted as the most technologically advanced in the world. But that claim, and those sales, must crumble in the face of a clear demonstration that China is the new technological giant of the 21st Century!

Oct 11 05:24

Tom Donilon: The Last Best Hope to Help Obama Make Vital Strategic Leaps

By Steve Clemons –

Recently I met with David Rothkopf, Foreign Policy blogger and one of Washington’s premier chroniclers of American national security personalities and architecture, for lunch and discussed with him who President Obama’s next National Security Advisor should be.

While the Obama administration has had some serious strategic trip-ups, particularly in Israel-Palestine deal making, the fact is that Donilon’s furious, competent pace has kept the country and the White House afloat and kept the system from taking on too much water and getting bogged down.

Oct 09 10:03

China Outraged by Dissident’s Nobel Peace Prize Win

China’s Ambassador met with Norwegian officials today to express his government’s outrage at the Nobel Peace Prize commission’s decision to award this year’s prize to Liu Xiaobo, a Chinese dissident who is currently in prison. Norway responded that its government doesn’t get to decide who wins the prize.

Webmaster's Commentary: 

Memo to China's Ambassador to Norway: this award has already been completely debased and discredited by its having been awarded to such consummate warmongers like Kissinger and Obama.

That having been said, with the rapidly growing rise of a Chinese middle class, the Chinese government can well expect that there will be many more people who have differing views of how problems need to be resolved, and will be vocal in those opinions.

It is in how the Chinese government deals with the issue of dissent which will shape the future of the country, and the future of its position as an emerging world power.

Oct 05 06:17

Iran opens airspace to China warplanes

The Islamic Republic of Iran has reportedly opened its airspace to Chinese warplanes taking part in joint military maneuvers with Turkey.

Oct 04 14:24

Stuxnet Super Virus Also Attacked China

The latest super virus, Stuxnet, which attacked Iran’s Nuclear Facility, is reported to have attacked China too. Some of the industrial computing systems and their hardwares run by the Siemens software were affected by the Stuxnet worm. Now there is a fear shown by the US, that if the virus could hit China, then the United States is not missing on its list.

Oct 04 08:59

Iran opens airspace to China warplanes

The Islamic Republic of Iran has reportedly opened its airspace to Chinese warplanes taking part in joint military maneuvers with Turkey.

Oct 03 14:20

China pledges: We'll prop up the eurozone and keep Greece afloat

China last night offered to bail out debt-ridden Greece – and pledged to support the eurozone countries during the global crisis.

Premier Wen Jiabao made the offer at the start of a two-day visit to the crisis-hit country.

‘China is holding Greek bonds and will keep buying bonds that Greece issues,’ said Wen.

'China will end up owning the infrastructure of Europe'... pr

Oct 02 15:01

It was very sad that Quran was burnt: Craig Blomberg

One of the most distinctive and important teachings of Jesus was love for one’s enemies. Muslims as a whole are not Christians’ enemies, but even if a few Christians think so, that gives them no reason to violate their Lord’s teaching on loving the people they think are their enemies.

Oct 02 07:07

U.S. Losing Control of Bombs To China Monopoly

Geez! We are even losing are capacity to kill people! Aw shucks!

Sep 30 16:43

In a Computer Worm, a Possible Biblical Clue

Deep inside the computer worm that some specialists suspect is aimed at slowing Iran’s race for a nuclear weapon lies what could be a fleeting reference to the Book of Esther, the Old Testament tale in which the Jews pre-empt a Persian plot to destroy them.

Sep 30 16:06

House passes bill aimed at Chinese currency

The House of Representatives approved legislation Wednesday designed to combat the manipulation of currency by China that results in unfavorable trade conditions for the United States.

The legislation, which authorizes the Commerce Department to impose duties on imports from countries with undervalued currencies, passed by a vote of 348 to 79. (Wallmart will be pissed, shrug)

The bill got support from both sides of the aisle, a rarity in recent sessions, with Democrats framing the legislation as a jobs issue. (too little, too late)

"We can talk, or we can act. International trade is a high stakes, cut-throat business, and every time we simply talk, the other side acts, and every time they act, an American loses a job," said Rep. Xavier Becerra, D-California. (Blame the Trilateral Commission drafting of NAFTA and GATT for your loss of jobs to free trade agreements, along with the congress that enacted them)

China said this year it would allow its currency, the renminbi, to trade in a wider range against the dollar. But the currency, also known as the yuan, has scarcely appreciated since then, inflaming critics who charge the undervalued renminbi helps steal U.S. manufacturing jobs.

Estimations on the undervaluation of the renminbi vary depending on the economic model used, but one estimate by the Peterson Institute of International Economics puts the number at about 24% against the dollar.
(Congress wants to export its depression to another country. - kdtroxel)

Sep 30 10:24

Millions of Computers Hit by Virus Across China

Jakarta Globe

Bejing. A computer virus dubbed the world’s “first cyber superweapon” and which may have been designed to attack Iran’s nuclear facilities has found a new target — China.

The Stuxnet computer worm has wreaked havoc in China, infecting millions of computers around the country, state media reported this week.

Sep 29 08:51

Early snowfalls arrive in Xinjiang

The start of winter might be several months away, but northwest China's Xinjiang Uygur Autonomous Region has already experienced its first early snowfall of the year, with up to 10 centimeters falling across the region.

Sep 29 00:27

Will All Countries Be Forced Into One Child Families?

China suffered worldwide condemnation 20 plus years ago when it instituted one child families. Since that time, it slowed its 12 million annual net gain race-horse population growth down to eight million annually. Even so, it expects to grow from 1.3 to 1.55.

More ominously, India at 1.16 billion, adds 12 million net gain annually on their way to overtake China in the population bracket at 1.55 billion by 2050. One wonders how the top leaders around the world, both religious and governmental, can remain silent?

Sep 28 05:06

Ahead of the Bell: China imposes tariff on chicken

Associated Press

Shares of the nation's chicken producers could tumble on Monday after China said it will slap a hefty tariff on U.S. chicken imports to combat what it says are unfairly low prices.

The Chinese government said Sunday that its investigation found that U.S. chicken products are being sold at low prices which undermine the local market. New import duties ranging from 50.3 percent to as much as 105.4 percent will take effect Monday and last for five years.

Sep 24 12:31

US Congress moves to punish China on currency

AFP

The US Congress moved Friday to open the way for retaliation against China over its currency, warning that it has lost patience with quiet efforts to press Beijing to let its yuan appreciate.

One day after President Barack Obama pressed Chinese Premier Wen Jiabao on currency in a meeting in New York, Obama's allies in Congress approved a measure that accuses Beijing of killing US manufacturing jobs with its yuan.

Sep 24 11:24

Make Bono history

There was a humdinger of a story about Bono in the New York Post earlier this week that the Mail has picked up on this morning. According to the Post, Bono’s anti-poverty ONE foundation received $14,993,873 in donations from philanthropists in 2008, of which just $184,732 was distributed to three charities. (ONE is an “advocacy organisation” whose main purpose is to change policies, not support charities, it says.) So what happened to the rest? More than $8 million was spent on executive and employee salaries.

Sep 23 05:17

Manufacturing’s decline threatens national security, House panel hears

US can't produce enough ammo to supply police, troops: expert

The hollowing-out of the US's industrial base means the country is risking its national security by being dependent on foreign contractors, experts told a congressional panel Wednesday.

The House National Security Oversight Subcommittee heard from a number of economists and labor leaders who argued that the long, slow erosion of American manufacturing has led to the US losing its edge in numerous industries that are vital to national security.

Sep 21 09:10

China tells U.S. to keep out of South China Sea dispute

Webmaster's Commentary: 

Unfortunately, this will only happen when pigs fly.

But one has to wonder just what the US believes it will accomplish by antagonizing China right now; it would seem the last thing on earth a sane U government would want to do.

Sep 20 15:13

Chinese ready to drop U.S. holdings and pour money into nation

China's young bankers and budding economists are part of a wired, frustrated generation looking for their inheritance.

They've enjoyed the savings of their parents to get this far. Now they are looking to collect their due from another source – the money China has loaned to the United States...

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Sep 19 08:47

Chinese “Body Fishers”: The Business of Selling Corpses Pulled from the Yellow River

A Lanzhou business journal wrote in 2006 about a local firm that got a call from a body fisher who’d found a corpse floating in the river with employee identification. When a company representative, identified only by the surname Wang, went to collect the body, he was told that it would cost 200 yuan (about $30) to view the face and 6,000 yuan ($895) to take the dead man away. Wang and the body fisher argued, finally settling on 4,000 yuan ($597). The news article expressed outrage at the situation and quoted police as saying there’d be a crackdown, something that almost four years later has yet to happen.

Sep 18 21:12

JAMES PETRAS: IMPERIALISM AND IMPERIAL BARBARISM

Excerpts from Petras thesis:

Imperialism, its character, means and ends has changed over time and place.

Under pressure from nationalist and socialist anti-imperialist movements and regimes, colonial structured empires gave way to new nationalist regimes. Some of which restructured their economies, diversifying their productive systems and trading partners.

Sep 16 13:48

China Will Allow Credit Default Swaps, As Long As They Are Not Naked

I have repeatedly argued that naked credit default swaps should be banned.

"Naked credit default swaps" is the term coined to describe the situation where the buyer is not the referenced entity.

The American government hasn't banned naked CDS. Instead, the government let the largest CDS traders write impotent laws which won't fundamentally change the ongoing danger from derivatives.

But the Chinese are being smarter.
As Bloomberg notes:

Sep 15 15:29

Chinese Economist Cheng Siwei - USA has been Financially Irresponsible

China has overtaken Japan as the world's second biggest economy and remains on course to surpass the US within a generation.

HARDtalk speaks to the distinguished Chinese economist and former vice chairman of the Standing Committee of the National People's Congress Cheng Siwei.

Sep 13 06:16

Obama, as seen in China

Sep 11 10:53

Pentagon: USS George Washington Nuclear Aircraft Carrier to join military drills off Korean Peninsula

U.S. Defense Department spokesman Geoff Morrell said on Thursday aircraft carrier USS George Washington will be sent to waters off the Korean Peninsula to participate in war games with South Korea.

"The USS George Washington will indeed exercise in the Yellow Sea," Geoff Morrell said.

China has voiced objection to any military drills off its coast. The drills were postponed from its original schedule on Sept. 5-9.

However, Morrell didn't give a specific timetable, stressing that it's not an affront to China, but rather a warning to Pyongyang.

Webmaster's Commentary: 

This is not a warning to North Korea; it is a warning to China, which considers the Yellow Sea its back yard.

It appears that the US is looking to ratchet up tensions in the region, rather than reduce them.

Sep 11 10:20

US-China Trade Tensions Seen Boiling Over If Congress Acts

Frustrated members of Congress may vote in the coming weeks on legislation penalizing Chinese imports for Beijing's artificially low currency. Anger over the artificially low yuan is a long-simmering issue on Capitol Hill, but is becoming more pronounced. Stoked by a heated U.S. election cycle and ailing economy, some insiders predict the China penalty bills will pass at least the House and possibly the Senate.

Webmaster's Commentary: 

Memo to Congress: penalizing China is not the answer to the US's economic woes.

Cutting taxes, incentivizing companies to bring jobs back to this country, and stopping the funding of these immoral and illegal wars without end would certainly help.

Of course, all these measures would be logical.

Sep 10 14:33

China and India: Still Hungry for Coal

Marin Katusa, Chief Energy Strategist
Casey Research

One can only hope that the “Don’t shoot the messenger” adage is still popular in the international community.

UK-based consultants M&C Energy Group have become the latest to join the chorus of voices asking the international community to increase the pressure on China and India to switch to cleaner energy sources.

Sep 07 05:10

Witness - The Chinese Colony

Sep 06 06:33

China, US meet amid tension over trade, military

BEIJING — Senior U.S. and Chinese officials met Monday to steady relations upset by disputes over currency, trade and military affairs despite calls for a tougher line on Chinese economic policies that some say are contributing to American unemployment.

With congressional elections in two months, President Barack Obama is under pressure to kick-start the economy and many lawmakers say he should start by addressing China's lopsided trade surplus and currency policies.

Sep 06 05:33

The Impact of Fiat Money as the World’s Reserve Currency

David Redick
Activist Post

The creation of fiat official government money has had a profound effect in history and on our nation and the world today. "Fiat" means it is worth whatever the government says it is (its face value), although the material of which it is made may have more or less intrinsic market value. Examples would include both valuable silver dollars and worthless paper, each declared to be worth $1; and today’s American Eagle bullion coin with a face value of $50 for one ounce of gold.

Sep 05 10:19

China fears depreciation of $2.45 trillion of reserves still heavy in dollars

Hu Xiaolian, a vice governor with the People's Bank of China, warned that depreciation was a risk for the foreign exchange reserves held by developing countries.

"Once a reserve currency's value becomes unstable, there will be quite large depreciation risks for assets," she wrote in an article that appeared in the latest issue of China Finance, a central bank magazine.

Webmaster's Commentary: 

The Chinese have every reason to be concerned about the potential depreciation of the US dollar, and so should Americans.

Sep 05 07:04

Heavy in dollars, China warns of depreciation

China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.

The Chinese government's currency reserves, the world's largest such stockpile at $2.45 trillion, are held roughly in line with what was described as the global average: 65 percent in dollars, 26 percent in euros, 5 percent in pounds and 3 percent in yen.

Sep 01 08:28

Fed lets China firm buy Morgan Stanley shares

The Federal Reserve on Tuesday approved a proposal by Chinese sovereign wealth fund China Investment Corp. to buy up to 10 percent of the voting shares of Morgan Stanley.

Webmaster's Commentary: 

Chinese business professionals are masters at horizontal integration into other countries' financial markets.

This is very significant, but why does the Fed - a private bank no more "Federal than "Federal Express" - have to approve such a deal?!?

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Aug 28 10:19

India cancels China defense exchanges

China refused to issue a visa to the General Officer Commanding in Chief in Jammu and Kashmir, Lt. Gen. BS Jaswal.

The commander is responsible for Indian army operations in the Muslim-majority disputed region.

Kashmir has witnessed protests against Indian rule triggered by recent killings blamed on government forces. Sixty-four people have lost their lives in two months of violence. The New Delhi government's refusal to send a word of apology over the slayings and the reluctance shown by the Indian Prime Minister Manmohan Singh to order an end to shootings have added to the anger of protestors.

Webmaster's Commentary: 

This is a very significant position for the Chinese government to take, and will be interpreted as such from the many Middle Eastern countries with which China does business.

Unfortunately, this position, however, will do nothing to relieve the problems of China's Muslim Uighur minority living in and around Xinjiang province in Western China, which continues to be a flashpoint for violence just as Kashmir is for India.

Aug 27 11:50

Its Official: China is Unloading its Treasury Bonds

It looks like the smart money these days is found in China. While American investors have been scrambling over each other to buy more Treasury bonds at historically low yields, China has begun quietly unloading some of its own enormous holdings. In June, the Middle Kingdom sold $21.2 billion of paper, reducing its net long to $839.7 billion. This is little more than 10% of the total $8.18 trillion in federal debt that Uncle Sam has outstanding.

Aug 27 10:10

Banks back switch to renminbi for trade

A number of the world's biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China.

HSBC, which recently moved its chief executive from London to Hong Kong, and Standard Chartered, are offering discounted transaction fees and other financial incentives to companies that choose to settle trade in the Chinese currency.

Webmaster's Commentary: 

Chinese Symbols exclamation pointChinese Symbols exclamation pointChinese Symbols exclamation point

Aug 22 07:34

Globalized Business Cares Little About Left or Right

Chrystia Freeland
Reuters

Here's the good news about China's emergence as the world's second largest economy -- US business has figured it out. And here's the bad news -- while US companies can go global, most US citizens can't. The result, in this age of globalization, is a growing tension between the interests of America's business leaders and the interests of much of its middle class. Indeed, the most important fault-line in American politics may not be between Democrats and Republicans, it is between those businesses and business people who are succeeding in the global economy and those who are not.

Aug 18 08:00

U.S.-China Crisis: From "Gunboat Diplomacy" to Confrontation

The maneuvers were an open challenge to and clear act of defiance toward China, following by two weeks U.S. Secretary of State Hillary Clinton's announcement in the Vietnamese capital that the U.S. was prepared to intervene in territorial disputes over the above-mentioned islands on behalf of claimants Vietnam, Taiwan, Brunei, the Philippines and Malaysia against China.

While in South Korea, Gates, Mullen and Willard confirmed plans for regular U.S.-South Korean joint military exercises, including in the Yellow Sea off the west coast of the Korean Peninsula. The bulk of the sea's coastline is Chinese territory.

Webmaster's Commentary: 

China abruptly severed its military to military relations with the US in February of this year, due to US weapons sales to Taiwan.

The relationship between the two countries has continued to sour, and the US is not doing anything substantive to repair it.

These exercises are guaranteed to do one thing, and that is ratchet up the tensions in the region even further.

At a point in time where China is quietly moving out of its position in dollar holdings, one has wonder at the timing of these exercises, and precisely what they are intended to accomplish.

The US's attempting to bully China militarily may well have the absolute opposite outcome of its intended effect.

Aug 17 16:13

Iran, Tajikistan and Afghanistan: Diplomacy of Brotherhood

Kourosh Ziabari (Salem-News.Com)

The three countries stressed the importance of Nuclear Non-Proliferation Treaty and underlined the inalienable right of the NPT member states to use the nuclear power for peaceful purposes.

(TEHRAN) - The Trilateral Summit of the presidents of three Persian-speaking countries of Iran, Tajikistan and Afghanistan wrapped up on 5 August in Tehran and recorded another unforgettable event in the memory of the three brother nations.

Aug 17 13:45

Flashback 2001: Patriotic reasons to boycott ChinaMart/WalMart

Skolnick - Wal-Mart And The
Red Chinese Secret Police, Pt 3
By Sherman H. Skolnick
9-6-1
Wal-Mart and the Reputed Crooked Judges in Chicago.
... the Rockefellers, as the first part of the plan, are seeking to control the common people of the U.S. by flooding the nation with "China White", high purity dope from Southwest China....In the process, the Rockefellers are assisting Red China in undermining the skilled trades and useful employment in the U.S. by deluging the nation with cheap goods from China and countries dominated by them such as Sri Lanka. Spear-heading that effort has been Wal-Mart capable of underselling most everybody with products made by Chinese and other slave-laborers at camps and factories under the authority of the Secret Police.

Aug 17 03:10

The Ecstasy of Empire

If the wars are not immediately stopped and the jobs brought back to America, the US is relegated to the trash bin of history.

Obviously, the corporations and Wall Street would use their financial power and campaign contributions to block any legislation that would reduce short-term earnings and bonuses by bringing jobs back to America. Americans have no greater enemies than Wall Street and the corporations and their prostitutes in Congress and the White House.

The neocons allied with Israel, who control both parties and much of the media, are strung out on the ecstasy of Empire.

Aug 16 00:55

Putting Government First

Where a man's purse is, there his heart will be also.

If you would know where the heart of the Obama party is today, consider. In the dog days of August, with temperatures in D.C. rising above 100, Nancy Pelosi called the House back to Washington to enact legislation that could not wait until September.

Purpose: Vote $26 billion to prevent layoffs of state, municipal and county employees whose own governments had decided they had to be let go if they were to meet their constitutional duty to balance their books.

Workers their own governments thought expendable, Congress decided were so essential, it borrowed another 26 thousand million dollars from China to keep them on state and local payrolls.

Aug 14 18:21

Crisis. What Crisis? Profits Soar!

By James Petras

The capitalist state, with Democratic President Obama in the lead, has transferred billions to big capital via direct bailouts, virtual interest free loans, tax cuts and by pressuring labor to accept lower wages and health and pension givebacks. The White House plan for ‘recovery’ has worked beyond expectations – corporate profits have recovered; “only” the vast majority of workers have fallen deeper into crises.

CONTINUE READING THE FULL ARTICLE:

http://mycatbirdseat.com/2010/08/crisis-what-crisis-profits-soar/

Aug 14 06:21

Pictures: Landslides strike China

At midnight on Sunday, August 8th, a temporary lake caused by a recent landslide broke loose above the town of Zhouqu, in Gannan Tibetan Autonomous Prefecture, China. The outflow slid down the valley as a wall of mud, wiping out houses and muli-story buildings, and killing at least 1,144 residents - with over 600 still reported as missing. More than 10,000 soldiers and rescuers arrived soon to comb through the mountains of mud that buried several parts of Zhouqu County. Engineers also worked to blast the debris that had passed through the town to partially block the Bailong River, causing further flooding. Collected here are images of the landslide-affected area of northwestern China, part of a series of disasters in Asia caused by recent heavy rains. (41 photos total)

Aug 13 16:49

Will retaliate if offended by US, warns China Gen

A Chinese General on Friday termed as "flagrant provocation" US plans to send a nuclear-powered aircraft carrier to the Yellow Sea and said the country would retaliate if "offended".

China had in the recent weeks voice its firm opposition to activities of foreign military vessels or planes in the Yellow Sea and China's coastal waters, saying they undermine it security interests. Despite China's warning, the US insists on sending the carrier ‘USS George Washington', he said

The General was reacting to remarks by Admiral Mike Mullen, Chairman of the US Joint Chiefs of Staff, that the carrier will always go into international waters.

Webmaster's Commentary: 

At a point in time when the Us desperately needs China's cooperation (particularly with the huge amount of US debt China is holding), why is it sabre-rattling right now?!?!?

Aug 12 08:56

Is China Executing a Cunning Sun Tzu Strategy to Destroy the Dollar and Cause an Upward Price Explosion in Gold?

Could China be coveting the role of the next economic superpower, thereby supplanting the USA? If so, is China planning to do this by design or is it simply awaiting this result by default as a result of the total collapse of the American economic system?

Webmaster's Commentary: 

China doesn't need to do anything but wait. The US economy was destroyed with the passage of the Federal Reserve Act in 1913.

Aug 10 08:23

US warship visits former foe Vietnam, China warns US to stay out of Yellow Sea

An American warship docked Tuesday in central Vietnam where the former foes planned to conduct naval training in a sign of growing military ties amid new warnings from China
for the U.S. to stay out of its backyard.

Webmaster's Commentary: 

"Hey, relax; we're getting kicked out of the Afghanistan opium fields and just need to see if any of Kuhn Sa's stash is still floating around for sale!" -- Official White Horse Souse

Aug 06 16:04

New Chinese missile 'challenges US'

China is reportedly developing a game-changing new naval missile that can pave the way for ending the US dominance at sea, experts say.

The missile, named the Dong Feng 21D, can be launched from land to destroy the most advanced moving aircraft carrier 900 miles away.

Aug 05 18:36

Chinese Carrier Killer Missile Could Shift Pacific Power Balance

Nothing projects U.S. global air and sea power more vividly than supercarriers. Bristling with fighter jets that can reach deep into even landlocked trouble zones, America's virtually invincible carrier fleet has long enforced its dominance of the high seas.

China may soon put an end to that...

Aug 05 10:20

Second U.S. revolution coming?

I don’t like to carry more information than necessary about U.S. affairs, but the simple fact is that things are rapidly coming to a head in the States.

With mid-term elections coming up in just four months time, and U.S.–backed Israel scheming to start a war with Lebanon which will inevitably drag in Syria and Iran, and then quite possibly Russia and China (who have multi-billion dollar investments in Iran’s oil infrastructure), America as we know it, and quite possibly the world itself, may be considerable changed for the worse by the end of this year.

Aug 05 10:17

US lawmaker calls for sanctions on China, Russia

The United States should immediately impose sanctions on Russia and China under a US law that punishes major investments in Iran's energy sector, a senior US lawmaker said Monday.

Webmaster's Commentary: 

"That's just fine. We just need to cash in all these trillions of dollars in IOUs we are holding. We need payment in gold by close of business today." -- China

Aug 05 08:54

China rejects U.S. pressure on Iran trade ties

China pushed back at U.S. pressure on its business and oil trade with Iran in comments published on Wednesday, while Iran's oil minister was in Beijing seeking to shore up ties with the big customer.

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