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Sep 22 06:27

Trump Bluntly Addresses Cause Of Pandemic, Hear His Reasons

Former President Donald Trump announced in a recent interview with Sky News Australia that COVID-19 started at the Wuhan Institute of Virology, and insisted it was released out to the world due to "gross incompetence."

Trump announced, "Some of the intelligence is classified and I can't talk about it, but it most likely, and when I say most likely, like 95%, came from the Wuhan lab. I don't know if they had bad thoughts or whether it was gross incompetence, but one way or the other it came out of Wuhan, it came from the Wuhan lab. I started hearing stories ... that there were lots of body bags outside of the lab. I heard that a long time ago. And if they did in fact have body bags, that was one little indication wasn't it?"

Sep 22 05:39

UN Urging US To Make Its Peace With China

President Biden is entering the United Nations General Assembly on Monday carrying the baggage of many recent foreign policy disasters — including the botched troop departure from Afghanistan and a weapons deal blunder that has seen France withdraw its ambassador from the US — as he is supposed to meet with the UN secretary-general to kick off the summit.

Before the Monday meeting, UN Chief Antonio Guterres told the Associated Press that his focus is on the US and China fixing their relationship, and is keen to discuss bypassing a “cold war” with China.

Webmaster's Commentary: 

"Peace? We can't make any money off of peace!!" -- Official White Horse Souse

Sep 22 05:10

At the UN, Biden Claims the US Is Not Seeking a Cold War With China

Addressing the UN General Assembly in New York on Tuesday, President Biden claimed the US does not seek a “Cold War” with China despite recent steps by Washington to rally allies against Beijing.

“We are not seeking a new Cold War or a world divided into rigid blocs,” Biden said, without mentioning Beijing by name. His remarks came a day after UN Secretary-General Antonio Guterres warned against a new Cold War between the US and China and called on the two powers to fix their “dysfunctional relationship.”

While he claimed the US doesn’t want a Cold War, Biden had previously framed the US-China relationship as an ideological competition between “democracy” and “autocracy.” He has also said the US is in competition with China to “win the 21st century.”

Sep 21 13:40

Are the US and China Stumbling Toward an ‘Islands War’?

In a diplomatic coup, Prime Minister Scott Morrison announced a deal last week with the U.K. and U.S. to have those Anglo-American allies help build a nuclear-powered submarine fleet for Australia.

A $66 billion French deal to provide Canberra with diesel electric-powered submarines, among the largest defense contracts Paris had ever negotiated, was blown off.

"A stab in the back!" said Foreign Minister Jean-Yves Le Drian, who had been kept in the dark on the secret talks. "There has been duplicity, contempt and lies." Le Drian compared President Joe Biden to former President Donald Trump.

President Emmanuel Macron recalled his ambassadors to both the US and Australia. In two centuries of U.S.-French diplomatic relations, no such recall had ever occurred.

What does this Australia First submarine deal mean?

Sep 21 13:09

‘Beyond doubt’ there was an ‘incident’ at the Wuhan Institute of Virology

Sep 21 10:22

WHAT? Obama’s Def Sec Leon Panetta Appears To Admit He Was Involved With Milley’s Secret CCP Calls

Former Obama-Biden administration Defense Secretary and CIA Director Leon Panetta appeared to admit that he was involved with General Mark Milley’s secret calls to the Chinese Communist military behind President Donald Trump’s back.

Leon Panetta, the former Director of the Central Intelligence Agency (CIA) and former Defense Secretary under the Obama-Biden administration appeared to admit that he was involved with General Mark Milley’s secret calls to the CCP military behind the back of President Donald Trump.

Panetta, while confirming that Milley made secret calls, said the first secret call Milley made to the CCP was “pursuant to the approval of [Defense] Secretary [Mark] Esper,” adding that the second secret call to the CCP was made because “President [Trump] was appointing political people to key positions at the Defense Department.”

Sep 21 08:18

How Evergrande Became Too Big To Fail And Why Beijing Will Have To Bail It Out

While the world is obsessing with the fate of Evergrande, and more importantly when, or if, Beijing will bail it out, another just as interesting question is how did the company many call "China's Lehman" get to the point of no return and become a global systematic risk. For a fascinating look into how we got here, we turn our readers' attention to a recent article from Caixin titled "How Evergrande Could Turn Into ‘China’s Lehman Brothers'," and which provides one of the most comprehensive insights into why Beijing will have to, even if it is kicking and screaming, bail out Evergrande which, at its core, is just one giant shadow-banking black box whose time has finally run out.

Sep 21 07:55

Air Force Secretary Says His Priorities are ‘China, China, and China’

On Monday, President Biden’s new Air Force Secretary Frank Kendall made it crystal clear that China is his main focus during a speech at the Air Force Association’s Air, Space and Cyber conference. According to an Air Force press release, Kendall mentioned China 27 times in his remarks compared to a single mention of Russia.

“So what are my intentions now that I have this job? At a breakfast on Capitol Hill shortly after I was sworn in, I was asked by Sen. Jon Tester what my priorities were. My answer was that I had three; China, China, and China,” Kendall said.

Kendall, who assumed office on August 28th, said China is a threat to Washington’s global military dominance. “While America is still the dominant military power on the planet today, we are being more effectively challenged militarily than at any other time in our history,” he said.

Sep 21 07:48

Taiwan: will dark horse pushing cross-strait union upend two-way race for KMT chair?

Days before Taiwan’s main opposition Kuomintang party elects a new leader, a hardline pro-unification candidate has dramatically emerged as the front runner, to seriously threaten what was to have been a two-way race between the incumbent and former chairman on Saturday.

Four candidates are vying for the KMT’s top post and, even until late last month, all eyes were still on the fierce campaign between ex-chairman and New Taipei mayor Eric Chu Li-luan, 60, and incumbent chairman Johnny Chiang, 49, who is also a legislator.

But now, thanks to a September 4 televised debate and a controversial KMT decision to discipline him, NGO chief Chang Ya-chung, who is little known outside Taiwan, has successfully established himself as a tragic hero fighting to steer the century-old party back to its mainland China-centric road.

Sep 21 07:13

China’s Real Estate Sector in Trouble?

Sep 21 06:17

INVESTIGATION: U.S. Has Funded Over 250 Studies for Chinese Communist Military Researchers.

Various National Institutes of Health agencies – including Anthony Fauci’s National Institute of Allergy and Infectious Diseases – have funded over 250 studies authored by researchers at institutions controlled by China’s People’s Liberation Army, The National Pulse can exclusively reveal.

Following a unique investigation into the origins of scientific research papers, the whopping level of collaboration with the Chinese military will further concerns in the United States that the political class has surrendered to the Chinese Communist Party. Last week it emerged that the ranking General in the U.S. Armed Forces agreed to tip off China in advance of a U.S.-led attack.

The unearthed studies, from the National Institutes (NIH) online database, expand upon the People’s Liberation Army’s (PLA) ties to the Wuhan Institute of Virology unearthed by The National Pulse.

U.S. Taxpayers Funding the People’s Liberation Army.

Sep 21 05:53

How do you deal with the Taliban? With West still reeling from militants’ victory in Afghanistan, Russia & China are taking charge

When history speeds up, it plays havoc with our sense of time. It may seem longer, but it has only been around a month since the world was shaken by a geopolitical earthquake, with its epicenter in the Afghan capital of Kabul.

The lasting effects of the Taliban’s rapid re-conquest of Afghanistan, ending with their seizure of the city in the middle of August, are still unfolding. What comes next for the country, and for its place in the world, is still to be decided.

One piece of wishful thinking already debunked by the facts is the idea that, after 20 years of war, the Taliban 2.0 is more liberal and less inclined to brutality than it was when its predecessors ruled Afghanistan between 1996 and 2001. Cunningly, the group has tried to foster this illusion of moderation. Yet the militants’ actions speak louder than words. In reality, they have installed a government that reveals the lie behind their promises of inclusivity.

Sep 21 05:51

Biden’s submarine deal will force China and North Korea closer together & legitimise Pyongyang’s nuclear ambitions

The consequences of America’s military gerrymandering in Asia are likely to be extreme, with China having to lean on North Korea more heavily and Kim Jong-Un sensing an opportunity to accelerate his nuclear strategy.

The intense controversy that has surrounded America’s new submarine deal with Australia and the United Kingdom, which is seemingly designed to target China, has overshadowed the fact that it also has implications elsewhere in East Asia.

Over the weekend, North Korea’s foreign ministry condemned the AUKUS agreement, stating that, “These are extremely undesirable and dangerous acts which will upset the strategic balance in the Asia-Pacific region and trigger off a chain of nuclear arms race.”

Sep 21 05:41

EXCLUSIVE: John Kerry's Heinz ketchup heiress wife has millions of dollars in Chinese investments, leaving Biden's climate change envoy facing an ethical dilemma as he regularly meets with the country's top leaders to cut deals

Joe Biden's climate change envoy and former secretary of state John Kerry disclosed millions of dollars in Chinese investments held by his wife's family trust, government documents show.

Kerry's latest filing with the Office of Government Ethics (OGE) in March shows his wife benefits from an investment of 'at least $1 million' in a hedge fund that specializes in private partnerships and investments with Chinese government-controlled funds.

In his senior government role Kerry regularly meets with Chinese diplomats and leaders, and is in the delicate position of negotiating with the industrial superpower to cut deals on reducing carbon emissions.

Sep 20 11:42

And Another: Shanghai-Based Property Developer Crashes 87% In Minutes Before It Is Halted

It's not just Evergrande that is about to keel over. Overnight, one of its smaller peers, Shanghai-based Sinic Holdings Group which focuses on the development of residential and commercial properties in China, was halted trading after it shares cratered in a freak 87% plunge on Monday afternoon. The plunge slashed the market value to just under $230 million, which is laughable for a listed developer in the city.

There was no reason for the selloff - an officer at the firm’s Hong Kong office said there’s no one to attend to media inquires which is probably not a good sign - which was attributed to the general panic resulting from Evergrande's imminent default, nor did the company give a reason for the trading halt in Hong Kong.

Sep 20 11:41

Futures Slide, Europe Tumbles As Evergrande Contagion Shockwave Goes Global

In retrospect, China, Japan, South Korea and Taiwan picked a great day to take a holiday, which as we noted last night hammered Hong Kong stocks more than 3%, slamming the Hong Kong property sector and sending Evergrande - which is expected to default within hours to a bank loan due Monday while crucial interest payment deadline on its offshore bonds looms on Thursday - to its lowest market cap ever (it closed down 10.2% just off the worst levels of the day) before the rout spread to European bourses and US equity futures as Evergrande's escalating liquidity - and now solvency - crisis spread beyond the sector.

Sep 20 11:40

Goldman Issues A Dire Warning On China's Property Sector

No matter how the Evergrande drama plays out, whether it culminates with an uncontrolled, chaotic default and/or liquidation which sparks a crash in real estate values, or with Beijing blinking and bailing out the core pillar of China's housing market, remember that Evergrande is just a symptom of the trends that have whipsawed China's property market in the past year, which has seen significant contraction as a result of Beijing policies seeking to tighten financial conditions as part of Xi's new "common prosperity" drive which among other things, seeks to make housing much more affordable to everyone, not just the richest.

Sep 20 11:39

Six Evergrande Execs Face 'Severe Punishment' Over Early Redemptions For Themselves

Six senior Evergrande executives are facing "severe punishment" for securing early redemptions for themselves on investment products which the imploding Chinese real estate giant told retail investors they couldn't repay on time.

According to the Financial Times, over 40 group executives had personally invested in its investment products - with six of them securing early redemptions. All six will return the money.

"All funds redeemed by the managers must be returned and severe penalties will be imposed," said the company, which has offered to repay investors with discounted apartments and parking lots.

Sep 20 10:02

Macron Sure Looks Stupid Now for Having Picked a Fight With China on America’s and Australia’s Behalf

As far as slaps across the face go, they don’t come much bigger than this. And the giant backhander Australia just delivered France and its President, Emmanuel Macron, is bound to be repaid in kind.

Just as Prime Minister Scott Morrison can point to legitimate reasons for axing a $90 billion contract for the French to help build Australia’s new submarine fleet, Macron has more than reasonable grounds to feel angry and deceived.

To say the French are seething over the surprise new defence pact between Australia, the United States and United Kingdom would be an understatement. Overnight, Paris has gone from viewing Australia as a friend and ally to a nation which can’t be trusted.

“This decision is contrary to the letter and spirit of the co-operation that prevailed between France and Australia,” Foreign Minister Jean-Yves Le Drian and Armed Forces Minister Florence Parly said in a joint-statement.

Sep 20 08:30

This Never Happened Under Trump, Now Biden Admin Scrambling To Save Face

President Joe Biden’s new opportunity to aid Australia to launch nuclear-powered submarines may have added one alliance in an effort to counter China.

Though for France — which on Friday returned its ambassadors to the United States — the deal might have sent what little trust had been restored after four years under former President Donald Trump, experts said.

As Biden celebrated the new AUKUS pact with Australia and Britain on Thursday, French officials revealed outrage over the deal, which brought that nation's 2016 contract to build submarines for Australia to an unexpected end.

Sep 20 07:35

US-UK-Australia submarine deal is a dangerous joke which will only worsen geopolitical crisis with China

Australia struggles to keep its current six diesel-powered submarines operational; it now wants to build eight nuclear-powered submarines, despite having neither the trained manpower nor the nuclear infrastructure necessary.

This is a story of geopolitically driven military procurement gone mad.

Australia is an island nation whose very survival is dependent upon its ability to access strategic sea lines of communication (SLOCs) so that critical commerce links can operate on a sustained basis. In short, if any nation or group of nations were to cut off Australia’s sea links to the rest of the world, the country would eventually wither away and die.

Sep 20 06:32

Bad for business: World Bank China rigging scandal rattles investors

Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China's score in an influential report that ranks countries on how easy it is to do business there.

They also said the World Bank's subsequent discontinuation of the "Doing Business" series of annual reports could make it harder for investors to assess where to put their money.

"The more I think about this, the worse it looks," said Tim Ash at BlueBay Asset Management, adding that the reports published since 2003 had become important for banks and businesses around the world.

"Any quantitative model of country risk has built this into ratings. Money and investments are allocated on the back of this series."

Sep 20 06:32

IMF chief called out over pressure to favor China while at World Bank

World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday.

The report, prepared by law firm WilmerHale at the request of the bank's ethics committee, raises concerns about China's influence at the World Bank, and the judgment of Georgieva - now managing director of the International Monetary Fund - and then-World Bank President Jim Yong Kim.

Sep 20 05:18

Shipment of 86 fake championship rings from China which would have been worth $2.38 MILLION if real are intercepted by customs agents in Chicago

Customs officers in Chicago have seized a shipment of fake championship rings which were being sent from China and would have been worth a combined $2.38 million if they were real.

Sep 19 08:28

The Chinese tech massacre visualized...

Sep 19 06:04

Biden's warning to China: USS Wyoming test launches Trident II nuclear missiles off Cape Canaveral after Beijing warned of nuclear war risk over AUKUS submarine pact

The US Navy successfully conducted a scheduled two-missile test launch of un-armed life-extended Trident D5LE nuclear missiles from the USS Wyoming on Friday.

The USS Wyoming (SSBN-742), an Ohio-class ballistic missile submarine, was floating off the coast of Cape Canaveral, Florida when it completed the test, which was part of a Demonstration and Shakedown Operation, designated DASO-31.

A DASO is conducted to asses the fitness of the ballistic missile submarine and its crew before being sent out for operational deployment after the ship's refueling overhaul.

Sep 19 05:09

Blinken deletes tweet saying US would ‘stand with people of Hong Kong’, posts watered-down version

US Secretary of State Antony Blinken deleted a tweet that said the United States would “stand with the people of Hong Kong”, a post in which he accused Beijing of weakening the city’s long-term political stability.

He posted the message after seven Hong Kong opposition district councillors were disqualified this week, with authorities declaring that the oaths taken by them were invalid.

A spokesman for the Chinese foreign ministry’s Hong Kong office issued a statement on Friday strongly opposing “irresponsible comments from certain US politicians” on Hong Kong, saying that “no US slanders” would deter the nation’s determination to enforce “patriots administering Hong Kong”.

Sep 17 12:50

"Israel" Seeks to Replace the US with China after Afghanistan Withdrawal

On August 28, 2021, "Israel’s" Prime Minister Naftali Bennet met with Biden’s administration to discuss how the United States expects "Israel" to act towards China. This comes a day after "Israel" inaugurated the Chinese-run Haifa port terminal which was leased to China for 25 years. On the same day, an opinion piece written by "Israel’s" former president Ehud Olmert appeared in the Jerusalem post, insisting that "Israel" should refuse US demands to cool relations with China. He expressed his worry that the US appears weak, and then in the next sentence, he felt obligated to insist that this had nothing to do with its withdrawal from Afghanistan. But reading between the lines the message is clear, the US is a falling empire, and rather than sink with the ship, "Israel" is preparing to jump to a new host.

Sep 17 11:53

What could an Evergrande debt default mean for China and beyond?

China Evergrande Group is deeply in the red – to the tune of $300bn. And concerns are mounting that if it defaults on its debt, it could spell disaster for China’s property market and send shock waves through the world’s second-biggest economy.

A reckoning appeared even closer on Wednesday after Bloomberg News, citing people familiar with the matter, reported that the real estate developer may not be able to make the interest payments on some of its $300bn in liabilities next week and could also miss a principal payment on at least one of its loans.

Sep 17 07:20

Really weird things going on in China…

Sep 17 06:54

Retired Admiral And Former Obama Staffer: ‘Gen Milley Is A TRAITOR Who Must Be ARRESTED And Prosecuted For TREASON!’

Ronny Jackson, a retired Rear Admiral and former Obama physician, has called for Joint Chiefs Chairman Gen. Mark Milley to be arrested and prosecuted for “treason.”

Jackson wrote on Twitter Thursday that Milley was “willing to put the lives of America’s sons & daughters in EXTREME RISK all to undermine Trump.” Jackson ended the tweet by calling Milley a traitor and calling for him to be immediately fired and prosecuted for treason.

Sep 17 06:34

Video: 15 Skyscrapers Being Demolished in China

Sep 16 12:22

China Fires Back at ‘AUKUS’ Alliance With Violent Rhetoric: Australian Troops Would Be the First to Die

China on Thursday expressed outrage at a new security pact between Australia, the U.K. and the U.S., blasting what it considers a new Western provocation and singling out Australian troops as the first to die as a result of "Beijing's countermeasures so as to send a warning to others."

"Australia has turned itself into an adversary of China," China's English-language Global Times, considered a mouthpiece for the Chinese Communist Party, proclaimed in an editorial Thursday morning.

"If Australia dares to provoke China more blatantly," it added, "or even find fault militarily, China will certainly punish it with no mercy."

Sep 16 10:03

Trump SecDef Refutes Milley's 'Regular Comms' Excuse, Calls For Immediate Resignation

Update (1800ET): While General Milley and The White House must be hoping that if they just keep pointing the finger at Trump's behavior, this whole treasonous affair will go away judging from angry comments from Christopher Miller - who was Donald Trump's acting Secretary of Defense at the time of the calls to China - this crisis is anything but over...

JustTheNews.com's Susan Katz Keating reports that the former Pentagon chief said he did not authorize Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, to directly contact China's top military commander - contrary to Milley's claims that his conversations with Beijing were approved by defense officials.

Sep 16 09:53

'Milley is a complete nutjob': Trump tears into Joint Chiefs Chairman and says the only reason Biden won't fire him is because he knows his 'dirty secrets' about Afghanistan withdrawal

Former President Donald Trump tore into Joint Chiefs of Staff Chairman Mark Milley and President Joe Biden on Wednesday night after the commander-in-chief staunchly defended the embattled general from accusations he broke the chain of command with his calls to Chinese officials.

He accused Biden of covering for Milley because of 'dirty secrets' the general may know about Biden's chaotic Afghanistan withdrawal.

'Milley never told me about calls being made to China. From what I understand, he didn’t tell too many other people either,' the statement began.

Sep 16 08:24

Trump acting Defense Secretary Miller says he 'did not' authorize Milley China calls, says he should resign

Former acting Secretary of Defense Christopher Miller, who led the Pentagon from the period after the 2020 election through Inauguration Day, said that he "did not and would not ever authorize" Chairman of the Joint Chiefs of Staff Gen. Mark Milley to have "secret" calls with his Chinese counterpart, describing the allegations as a "disgraceful and unprecedented act of insubordination," and calling on him to resign "immediately."

In a statement to Fox News, Miller said that the United States Armed Forces, from its inception, has "operated under the inviolable principle of civilian control of the military."

Sep 16 08:24

Biden’s Pentagon Defends Milley’s Secret Talks With China

Joe Biden’s Pentagon appeared to be defending General Mark Milley’s secret talks with China amid claims of potential treason. On Wednesday, Department Spokesman John Kirby said Milley’s talks with Beijing last October and this past January were not inappropriate.

Kirby’s comments came despite Bob Woodward revealing Milley promised Beijing he would not follow President Trump’s orders in case he authorized a military strike on China. Milley also allegedly vowed to notify China if such a decision were made by Trump.

“I’m not speaking to the validity of things that are in the book, but it is completely appropriate for the chairman of the Joint Chiefs of Staff, as the senior military adviser to both the secretary and the president, to want to see those protocols reviewed on whatever frequent basis that that he wants to do that,” Kirby said. “He is basically the chief of defense for the United States. We don’t call him that, but he has chief of defense counterparts around the world.”

Sep 16 08:06

China Sends Message To Biden, Sent Four Advanced Warships To The Coast Of Alaska

It was reported today that China sent four of their advanced warships to patrol off the coast of Alaska at the end of August, entering the US exclusive economic zone just outside US territorial waters:

Sep 16 07:46

Trump SecDef Refutes Milley's 'Regular Comms' Excuse, Calls For Immediate Resignation

While General Milley and The White House must be hoping that if they just keep pointing the finger at Trump's behavior, this whole treasonous affair will go away judging from angry comments from Christopher Miller - who was Donald Trump's acting Secretary of Defense at the time of the calls to China - this crisis is anything but over...

JustTheNews.com's Susan Katz Keating reports that the former Pentagon chief said he did not authorize Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, to directly contact China's top military commander - contrary to Milley's claims that his conversations with Beijing were approved by defense officials.

Sep 16 07:33

China Blasts U.S.' 'Cliques' Before Planned Meeting With Japan, India and Australia

Leaders from the four countries, referred to as the "Quad," will meet next week in person for talks in the interest of "promoting a free and open Indo-Pacific," the Biden administration said.

Taiwan, which China claims as part of its territory, conducted military exercises Wednesday on rural roads to prepare for any possible Chinese attacks on its main airfields. The action comes as China has increased its assertiveness in the East and South China Seas, pushing Taiwan to bolster its defense and the U.S. and allies to bolster cooperation in structuring a sufficient response, the AP reported.

Sep 16 07:10

Pentagon Confirms Milley Conversations with Chinese Counterpart, Other Uniformed Leaders on Nukes

A spokesman for the Chairman of the Joint Chiefs of Staff Army Gen. Mark Milley on Wednesday confirmed some allegations contained in a new book that the chairman, allegedly fearing then-President Donald Trump would order a nuclear strike, had a meeting with other uniformed leaders and two phone calls with his Chinese counterpart.

Joint Staff Spokesperson Col. Dave Butler said in a statement (emphasis added):

The Chairman of the Joint Chiefs regularly communicates with Chiefs of Defense across the world, including with China and Russia. These conversations remain vital to improving mutual understanding of U.S. national security interests, reducing tensions, providing clarity and avoiding unintended consequences or conflict.

Sep 16 07:08

Trump SLAMS 'Traitor Miley'

Former President Donald Trump suggested Gen. Mark Milley may have committed treason with secret calls to China at the end of his administration.

The ex-commander in chief called into Newsmax on Tuesday to respond to a new book that claimed Milley, the chairman of the Joint Chiefs of Staff, pledged to give his Chinese counterpart advance notice if Trump were to order a strike against China.

"If it is actually true — which is hard to believe that he would have called China and done these things and was willing to advise them of an attack or in advance of an attack — that's treason," he told Sean Spicer and Lyndsay Keith.

Sep 16 07:07

Evergrande Suspends Trading In All Bonds

Earlier today we pointed out that in what can (obviously) only be a remarkable coincidence, China's largest, and most systematically important real estate developer, China Evergrande (and its $300+ billion in debt), collapsed on the 13th anniversary of Lehman's bankruptcy filing, when Beijing told Evergrande's creditor banks that the insolvent company, which recently hired Houlihan Lokey as bankruptcy advisor, would not pay interest on its debt next week, nor would it repay principal, in effect blessing the coming default.

And yet there was some trace of hope, because as Forte Securities trader Keith Temperton said "The Asian banks will get hit hard if there's a default, but then there will be a 10-year recovery process. The market's getting a hang of it. The way they've managed the news flow seems quite clever. They haven't let a swathe of bad news at once" giving investors and creditors some hope that the money could still miraculously reappear.

Sep 16 06:44

Chinese state-run newspaper claims warships could ‘soon’ near Hawaii

Chinese warships could “soon” show up near Hawaii and Guam, according to China’s state-run newspaper “Global Times.”

The newspaper said warships could be on their way following claims that the US Navy challenged international waters near Beijing.

The Global Times’ editor-in-chief, Hu Xijin, tweeted: “Hopefully when Chinese warships pass through the Caribbean Sea or show up near Hawaii and Guam one day, the US will uphold the same standard of freedom of navigation. That day will come soon.”

The US Navy responded to the tweet, saying they continue to uphold freedom of navigation and pointed out that Chinese spy ships have sailed freely near Hawaii in the past.

Sep 16 06:24

US, UK To Share Nuclear Submarine Technology With Australia In "Historic" Military Pact Against China

After breaking news of the the historic pact between the US, UK and Australia earlier, we have now gotten confirmation and additional information about the pact.

As the SCMP confirmed, the US, Britain and Australia announced on Wednesday a "historic" security alliance to strengthen military capabilities in the Pacific, which will share advanced defense technologies and give Australian forces nuclear submarine technology further extending Washington's drive for military cooperation that has angered China (although we are confident Gen Milley has already shared said nuclear technology with China so their anger will probably be contained).

Sep 16 06:17

“We Know What a Coup Looks Like, We Sat Through it for the Last Five Years” – Mark Levin on General Milley’s Likely Treasonous Actions with China

Mark Levin, was on with Hannity last night and he gave an excellent summary of General Milley’s actions surrounding potential treason.

Mark Levin was not happy with Woodward and Costa, the authors of the upcoming book, which is a hit job on President Trump. What they also did was sit on the news that General Mark Milley may have committed treason when he contacted the Chinese outside his chain of command both before and after the 2020 Election.

If this is true, Levin notes, he basically told his officers to take an oath of office to him.

Sep 16 05:50

Taiwan and Japan's joy at AUKUS submarine pact to take on China: Relief among the West's Pacific allies while furious Beijing warns it 'undermines peace', France fumes over 'stab in the back' and anti-nuke New Zealand BANS Aussie subs

Taiwan and Japan have welcomed a new three-way nuclear submarine pact between the US, UK and Australia aimed at combatting China - saying it is necessary to provide 'security' for the region.

The countries are both threatened by Beijing and North Korea respectively, and said the new naval alliance dubbed AUKUS would help keep the region 'free and open' and increasing 'peace and security'.

Boris Johnson, Joe Biden and Scott Morrison were also careful not to mention China when they announced the new pact - which will see Australia provided with its first ever fleet of at least eight nuclear subs - on Wednesday night, though made their intentions clear with references to 'democracy, freedom of navigation, and security'.

Sep 15 10:27

China's "Lehman Moment" Arrives On 13th Anniversary Of Lehman Bankruptcy: Beijing Tells Banks Evergrande Won't Pay Interest

Yesterday, when covering the non-stop drama surrounding China's most insolvent property developer, Evergrande, we said that it would be remarkably ironic if Evergrande were to announce a default - which everyone knows is coming - today, on the 13th anniversary of Lehman's bankruptcy filing on Sept 15, 2008.

Well, in this delightfully absurd world we live in, that's just what happened only instead of Evergrande making the announcement, it was the entity that will soon control the massively overlevered property developer that made it for them: the Chinese government.

According to Bloomberg, Chinese authorities told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, which takes the cash-strapped developer a step closer the nation’s largest modern-day restructurings, and guarantees that China's "Lehman Moment" is now just a matter of days, if not hours.

Sep 15 07:50

Hard pass, Joe: Chinese prez reportedly snubs Biden’s request for summit

Chinese President Xi Jinping snubbed President Biden’s request last week for an in-person summit to smooth over relations that were soured by Chinese human rights abuses and secrecy about the origins of COVID-19, according to a new report.

Biden told Xi on Thursday during a 90-minute call that he wanted to have the meeting to achieve better relations, but Xi “did not take him up on the offer and instead insisted Washington adopt a less strident tone towards Beijing,” Financial Times reports.

The White House did not immediately respond to a request for comment.

White House Press Secretary Jen Psaki on Friday declined to say at her daily press briefing if Biden pressed Xi during the call for Chinese transparency on the origins of the COVID-19 pandemic after the US intelligence community last month found it was “plausible” that the virus leaked from China’s Wuhan Institute of Virology.

Sep 15 07:13

China Company Reportedly Hopes to Revive Stalled Plans to Mine Vast Afghan Copper Deposit

Afghanistan’s Mes Aynak copper deposit, one of the largest untapped high-grade projects in the world, is estimated to hold 240 million tonnes of 2.3 percent grade copper ore, according to the United States Geological Survey (USGS) - yet hurdles stand in the way of mining at the site.

China is exploring ways to begin mining copper at Mes Aynak, Afghanistan's best-known deposit located about 40 kilometers south-east of the capital, Kabul, according to Kandahar-based outlet Taand. The reserves of an estimated 240 million tonnes of 2.3 percent grade copper are believed to be worth at least $50billion.

Sep 15 05:44

China Lodges Formal Protest With US Over Possible Taiwan Diplomatic Office Name Change

China has lodged a formal protest with the United States over the possibility that Taiwan might change the name of its diplomatic representation office in Washington from the current "Taipei Economic and Cultural Representative Office" (TECO) to "Taiwan Representative Office".

The formal request for the US to not allow the name change came just after on Monday state-run Communist Party mouthpiece Global Times published an op-ed Monday vowing that China's military will send fighter jets directly over the island in assertion of Chinese sovereignty over Taiwan.

The proposal was first requested by Taipei, and this current round of diplomatic tensions over the issue was sparked immediately upon reports the Biden administration is "seriously considering" allowing the name change.

Sep 15 05:43

Chinese Data Dump Confirms Hard Landing Imminent

Update (2210): On the heels of data showing land sales collapsing, tonight's smorgasbord of data (absent only GDP) on consumption, industrial output and investment will reveal the extent of the damage caused by an outbreak of the delta variant.

As a reminder ahead of tonight's August data, the latest official composite purchasing manager’s index fell to the lowest since February 2020, its first contraction after the virus lockdowns, signaling China’s robust economic recovery from last year’s coronavirus trough is losing momentum.

Industrial Production YTD YoY MISSED at +13.1% vs +13.5% exp DOWN from +14.4% prior

Retail Sales YTD YoY MISSED at +18.1% vs +18.9% exp DOWN from +20.7% prior

Fixed Asset Investment YTD YoY MISSED at +8.9% vs +9.0% exp DOWN from +10.3% prior

Property Investment YTD YoY MISSED at +10.9% vs +11.3% DOWN from +12.7% prior

Surveyed Jobless Rate IN LINE at 5.1% vs 5.1% exp IN LINE with 5.1% prior

Sep 15 05:32

Chinese firms should face faster US stock delisting over audit rules, SEC chairman Gary Gensler tells lawmakers

The chairman of the Securities and Exchange Commission on Tuesday urged Chinese firms to comply with American auditing rules and said the agency supported legislation that would allow for faster delisting.

Gary Gensler, testifying before the Senate Committee on Banking, Housing and Urban Affairs, said that the agency has “had discussions directly with the Chinese authorities” about the potential speeding up of delisting and that “the clock is ticking”.

The bill – the Accelerating Holding Foreign Companies Accountable Act – would reduce the amount of time US-traded Chinese companies have to hand over their audits to US regulators to two years from three years before they can be delisted from American exchanges.

Sep 15 05:22

Beijing Slams 'Despicable Action' to Ban Chinese Ambassador From British Parliament

In late March, Beijing responded in kind after London, along with the EU, the US, and Canada, slapped sanctions on Chinese officials over alleged human rights violations in China's Xinjiang region.

China's Ambassador to the UK Zheng Zeguang has been banned from the British Parliament over Beijing's sanctions against Britain's lawmakers.

Speaker of the House of Commons Lindsay Hoyle made it clear in a statement that Zheng would not attend a Commons reception on Wednesday, due to be hosted by the All Party Parliamentary China Group.

Sep 15 05:13

"Several Senior Executives" From Chinese Banks Investigated And Arrested In Recent Weeks, Global Times Reports

It may not just be the tech sector where the party has ended for businesses in China.

That's because this week, the state-owned mouthpiece Global Times made the announcement that "several senior executives of Chinese banks" had been "put under investigation or arrested over recent weeks".

According to the Central Commission for Discipline Inspection, the regulatory scrutiny comes as China looks to fight against corruption in the financial sector.

Sep 15 04:48

War with Russia & China would 'destroy world' & America must find ways to make peace with its Eastern rivals, top US general warns

With global nuclear stockpiles growing and countries upgrading their warheads and rockets, there is an almost unprecedented need to de-escalate tensions and avert atomic armageddon, one of America's most senior officers has said.

Speaking at a meeting hosted by Washington think-tank The Brookings Institution on Monday, Vice Chairman of the US Joint Chiefs of Staff General John E. Hyten warned of the risks if conflicts spiral out of control, and expressed hope that cooler heads can prevail. "We never fought the Soviet Union," he said. "As for the great powers, our goal is to never go to war with China and Russia."

Sep 15 04:35

Gen. Mark Milley took secret action to secure nukes from 'unstable' Trump after he lost the election and called China's top military leader to reassure the country Trump would not attack, new Bob Woodward book reveals

Chairman of the Joint Chiefs of Staff Mark Milley took a series of extraordinary actions after the Jan. 6th Capitol riot because he was concerned an 'unstable' President Trump might undertake military action in a desperate bid to stay in office, according to Bob Woodward's bombshell new book.

The efforts included Milley as the top ranking military officer meeting with top military officials in the Pentagon two days after the MAGA riot and telling them to keep him in the process for all military actions, including the use of nuclear weapons. It also involved outreach to Milley's counterpart in the Chinese military to provide reassurances the US would not strike its rival, according to the book.

Sep 15 04:34

Trump accuses Gen Mark Milley of TREASON after book claims America's top military officer secretly told his Chinese counterpart he would warn him if US was about to go to war with China

Former President Trump on Tuesday said the United States' top military officer was guilty of treason if he went behind his back and promised to warn China of an impending attack.

He was responding to bombshell revelations in a new book claiming that Gen. Mark Milley, chairman of the Joint Chiefs of Staff, twice called his Chinese counterpart last year over concerns that then President Trump was ready to go to war.

'If it is actually true - which is hard to believe that he would have called China, and done these things and was willing to advise them of an attack or in advance of an attack - that's treason,' said Trump during an interview with Sean Spicer on Newsmax TV.

Webmaster's Commentary: 

Yep, that's treason all right!

Sep 15 02:36

The U.S. And China Are Closer To War Than Most Americans Would Dare To Imagine

Are we in danger of stumbling into a major military conflict?  This week, a couple of startling revelations have really shaken up those that closely watch U.S. relations with China.  The relationship between our two nations continues to deteriorate, and we are now closer to a war with China than we have ever been since the end of the Korean War.  This is something that I have been warning about for a long time, and I am extremely alarmed by what has just been revealed.  But for most Americans, a war with China is so improbable that it isn’t even worth thinking about.  In fact, if you put together a list of all the issues that the American people are concerned about, war with China would probably not even make the top 1000.  Here in the United States, it is pretty much a non-issue, because the vast majority of the population does not think that such a war will ever happen in their entire lifetimes.

Sep 14 14:53

Book Reveals Gen Milley Secretly Sabotaged Trump, Called China, Sparking Talk Of Treason

Joint Chiefs Chairman Mark Milley - who just facilitated the transfer of billions of dollars of US military hardware to America's enemies during the botched Afghanistan pullout - engaged in a 'top-secret' mission to undermine President Trump's ability to order military strikes or launch nuclear weapons following the Jan.6 Capitol riot, according to a new book by Bob Woodword and the Washington Post's Robert Costa.

Milley's treasonous effort allegedly stemmed out of fears that Trump could 'go rogue,' according to CNN.

"You never know what a president's trigger point is," said Milley - who just separated an entire family of Afghan civilians from their mortal coils in a haphazard drone strike.

Sep 14 10:41

How equipment left in Afghanistan will expose US secrets

The ultimate winner of two decades of war in Afghanistan is likely China. The aircraft and armored vehicles left behind when U.S. forces withdrew will give China—through their eager partners, the Taliban—a broad window into how the U.S. military builds and uses some of its most important tools of war. Expect the Chinese military to use this windfall to create—and export to client states—a new generation of weapons and tactics tailored to U.S. vulnerabilities, said several experts who spent years building, acquiring, and testing some of the equipment that the Taliban now controls.

To understand how big a potential loss this is for the United States, look beyond the headlines foretelling a Taliban air force. Look instead to the bespoke and relatively primitive pieces of command, control, and communication equipment sitting around in vehicles the United States left on tarmacs and on airfields. These purpose-built items aren’t nearly as invincible to penetration as even your own phone.

Sep 14 10:31

Things You CAN Do in China (You CAN'T Do in America)

Sep 14 10:15

Evergrande problems are spreading ...

Sep 14 09:58

What Will Become Of Cash-Strapped China Evergrande?

Chinese billionaire Hui Ka Yan is probably edging towards a restructuring of Evergrande’s whopping $302 billion in total liabilities, as the property developer makes little progress in averting a mounting debt crisis that has led to protests outside its headquarters.

Evergrande has hired two advisors—Houlihan Lokey and Admiralty Harbour Capital–to assess its capital structure and evaluate the company’s overall liquidity, the Hong Kong-listed firm said in a stock exchange filing today.

Zhou Chuanyi, a credit analyst at Singapore-based Lucror Analytics, said such action usually heralds a debt restructuring down the road, and investors are now closely monitoring its interest payments and looking for clues as to whether the process will begin soon.

Sep 14 07:16

Chinese State Media Slams Soros As "The Most Evil Person In The World" And "The Son Of Satan"

It didn't take China long to respond to George Soros after he went nuclear on Beijing and US investment titans abandoning their "ESG ideals" to capitalize on China's massive market.

Over the weekend, China’s state-run tabloid Global Times labeled George Soros a “global economic terrorist” in a tit for tat exchange playing out in dueling op-eds that underscore the rising temperature in US-China relations, the Standard and Asia Times reported.

The article, published on September 4, accused the billionaire hedge fund manager and liberal donor and Democrat supporter of providing finance to Hong Kong’s jailed newspaper owner Jimmy Lai to support the city’s anti-Beijing protests in 2019.

Sep 14 06:12

PLA Warships Reportedly Sail Near Alaska

A website affiliated with the US Defense Department reported on Sunday that a naval flotilla of the Chinese People's Liberation Army (PLA), featuring one of China's most powerful warships, recently sailed in international waters near Alaska. However, the report was deleted for unknown reasons on Monday.

If the report is true, activities by Chinese warships are likely a normal far-sea training amid the PLA Navy's rapid development of such capabilities, Chinese analysts said on Monday, noting that this could also be seen as a countermeasure against US military provocations on China's doorsteps in the name of freedom of navigation.

Sep 14 06:00

If Biden decides to give increased diplomatic recognition to Taiwan, he risks lighting the touchpaper to war with China

Leaks say America is considering renaming its representative office in Taipei so as to include the island’s name, which would anger Beijing. It could spark an economic blockade, which in turn could lead to armed conflict.

Last week Biden called Xi Jinping. My analysis of that event was that it was a political blow to Biden, as he had been pushed into it by Beijing demanding respect and leveraging contact. The political fallout of having that conversation has since been obvious domestically in America.

Sep 13 15:52

Japan Scrambled Recon Aircraft & Destroyers After Chinese Submarine Surfaced Near Its Territory

Japan's defense ministry has announced that it believes a Chinese submarine is in waters near its southern islands, saying the submarine was spotted Sunday traversing to the northwest just outside Japanese territorial waters near Amami Oshima island.

During the same sighting a Chinese destroyer was also spotted in the area. It's unclear whether the submarine ever breached Japan's waters - based on official statements it doesn't appear so - and the incident comes after years of Tokyo complaining of such aggressive Chinese incursions.

According to Reuters, the weekend announcement indicated Japan's Maritime Self-Defense Force "identified the vessels in a contiguous zone, which is outside territorial waters where vessels are required to identify themselves." Amami Oshima Island is far south off the Japanese mainland.

Sep 13 12:50

Evergrande Denies Rumors Of Bankruptcy As Crisis Boils Over, Social Unrest Breaks Out Across China

China Evergrande Group, the largest and most indebted, and certainly most insolvent property developer in China, is - together with its $300+ billion in debt - rapidly approaching its "China moment."

Five days after reports of a technical default at Evergrande, which slammed China's property market and sent Chinese junk bond yields to the highest level since March 2020, the company took the unprecedented step of publishing a statement on its website, according to which it is "indeed facing unprecedented difficulties but it firmly fulfills responsibilities." The company added that it will go all out to resume work and production, ensure to deliver buildings, do everything possible to restore normal operations, and protect the legitimate rights and interests of customers.

Sep 13 08:26

China’s Ambassador to US Reportedly Asks Biden Administration to ‘Please Shut Up’ in Zoom Call

China-US relations have degenerated considerably over the past five years, with the countries mired in an economic conflict involving trade, tariffs and technology transfers, and engaged in a diplomatic conflict over issues ranging from Hong Kong, Xinjiang and Taiwan to US ‘freedom of navigation’ missions in waters claimed by Beijing.

Qin Gang, China’s recently-appointed ambassador to the United States, has reportedly urged American authorities to keep quiet if the ongoing spat between the two economic superpowers cannot be resolved diplomatically.

“If we cannot resolve our differences, please shut up,” Qin reportedly said in a private Zoom meeting hosted by the National Committee on United States-China Relations, a New York-based nonprofit, late last month.

Sep 13 07:48

China Is Trying To Control Rising Semi Prices By Fining Auto Chip Manufacturers

China is taking a page out of the Keynesian central banking playbook on how to micromanage an entire economy and is now reportedly fining auto chip sales companies for driving up prices.

And, like central banks will soon find out, we expect China to find out the hard way that you can't print, fine or tax your way to productivity.

The price increases are likely a normal result of a shortage of supply in semiconductors, which has plagued auto manufacturers for the better part of the last year.

China's State Administration for Market Regulations said it had fined three local companies a total of 2.5 million yuan, according to a report in Automotive News Europe.

The companies fined included Shanghai Chengsheng Industrial, Shanghai Cheter and Shenzhen Yuchang Technologies.

Sep 13 07:39

"Once The Situation Gets Out Of Control"- Chinese State Media Vows Its Military "Will Show Up At US Doorstep" And Will Win

China's state-run Global Times tabloid, which is viewed as representing the view of Beijing if with a hyperbolic slant, published an op-ed from its editorial board on Wednesday vowing that China’s military will soon confront the U.S. in a hostile exchange, American Military News reported.

"The US will definitely see the PLA show up at its doorstep in the not-too-distant future," the op-ed said. “The two sides’ warships and aircraft on the seas will carry huge mutual strategic hostility, and the two countries will not yield to each other.”

"Once the situation gets out of control and triggers military clash between China and the US, we must give full play to our home field advantage. China will definitely win once there is a war,” the Global Times op-ed said.

Sep 13 07:37

China’s PLA commanders come out in force as troops chase perfect response to US and Nato

Chinese People’s Liberation Army ?commanders assembled in numbers not seen in three years as troops focused on quick responses to problems at a key annual exercise this week, as part of China’s continued efforts to upgrade combat readiness and modernise its armed forces.

Nearly 200 senior military commanders from all theatres – and key regions such as Xinjiang and Tibet, as well as the Beijing garrison – took part in the three-day combined forces exercise from Tuesday at the Zhurihe base in Inner Mongolia, the PLA’s most well-known and Asia’s largest military training base.

The last time there was such a big gathering of commanders was during the PLA’s ground forces 2018 training session in Korla, in the far-western region of Xinjiang.

Sep 13 07:17

Two Years Ago Today: Wuhan Bat Lab Mysteriously Scrubbed Database With 22,000 Specimens

More than three months before Covid-19 officially 'broke out' in Wuhan, China, the Wuhan Institute of Virology mysteriously took its bat and rodent pathogen database offline - suddenly making over 22,000 specimens unavailable.

This is the same China that ordered virus samples destroyed after a 'rogue lab' published the genome for Covid-19 (48 hours after the WIV database was further altered), and deleted more than 300 studies encompassing "hundreds of pages of information"

We're reminded of this by biologist and writer Matt Ridley, who said in a Sunday Twitter thread:

Sep 12 05:22

China’s Campaign to Divide America

Sep 11 07:41

ARK's Cathie Wood Cuts Exposure To China-Based Names And Dumps $100 Million In Tesla This Week

Cathie Wood is cutting her exposure to China...and to Tesla.

The revered fund manager, often seen as the second coming by retail investors and financial media, drastically cut her ties to China-based companies amid the growing tensions between the Chinese Communist Party and many U.S. listed Chinese companies.

Wood only held onto names that were identifiably “currying favour” with Beijing, FT reported this week. Wood expounded on her thought process on Thursday of this week at the Mizuho Securities investor conference.

The environment in China is “quite different” than it was last year, Wood said, parroting headlines that broke in the U.S. weeks ago, before billions in value were wiped off Chinese equities across the board.

"Anything deemed by Beijing as too profitable was at risk of being torpedoed," FT reported her as saying.

Sep 11 07:23

Top Container Ports In Asia Brace For Impact Of Powerful Typhoon

A powerful typhoon is expected to impact Taiwan and China this weekend. It may strain global supply chains even further due to the possibility of port disruptions and other logistical issues that would stem from storm damage.

Taiwan's Central Weather Bureau said Typhoon Chanthu is north of the Philippines Friday as it closes in on Taiwan and the Chinese coast. In the path of the storm are major containerized ports and factories. The intensity of the storm is a significant concern.

The storm is rated as a category four typhoon, one level below a super typhoon, with maximum sustained winds of around 130 mph and gusts up to 160 mph. Taiwan is expected to feel the brunt of the storm late Saturday, then China on Sunday.

Sep 11 07:20

Rapidly-intensifying Typhoon Chanthu headed for Taiwan and southern China

A typhoon headed toward Taiwan and the southern coast of China is rapidly gaining in speed and strength ahead of an expected landfall later this week.

Typhoon Chanthu has rapidly intensified in the past 36 hours from a tropical depression into a severe typhoon, according to the Joint Typhoon Warning Center, with maximum wind speeds of up to 233 kilometers per hour (145 miles per hour). It is likely Chanthu will expand into a super typhoon in the coming hours.

Given the trajectory of the storm, it is still unclear whether Chanthu will first pass over Taiwan before it slams into southern China or narrowly miss the island. Either way, at its current pace, the storm is estimated to make landfall on either Saturday or Sunday.

Sep 11 07:09

China Declares War on SIMPS

Sep 11 06:46

China Reveals Flight Control System To Land Hypersonic Drone

Hong Kong's South China Morning Post revealed Tuesday that Chinese military researchers have reportedly found a way to land hypersonic drones on standard runways safely. If reports are correct, this would be a monumental step for Chinese aerospace and put the country lightyears ahead of the US.

A peer-reviewed study released in the defense journal Tactical Missile Technology on Sept.1 described how Dai Fei of Beihang University in Beijing and his team worked with the People's Liberation Army Air Force to refine the technology behind hypersonic drone landings.

They determined an "unpowered return guidance scheme" for the drones traveling at Mach 5 (3,836 mph) was sufficient. At those super-fast speeds, at an altitude of 19 miles, the onboard computer would shut off the drone's engine 125 miles before landing.

Sep 11 06:46

PLA Military 'On Alert' As US Carrier For 1st Time Launches F-35 Stealth Jets In South China Sea

For the first time ever a US Navy aircraft carrier with F-35 stealth fighters on board has entered the South China Sea this week. The Carl Vinson Carrier Strike Group entered the contested waters near China days ago, and subsequently the Navy released a photo of an F-35 launching from the Carl Vinson.

This comes as the Arleigh Burke-class guided-missile destroyer USS Benfold is gaining most attention from Beijing after it sailed near Mischief Reef in the Spratly Islands, which is an area long claimed by China.

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