Posts

Governor Jerry Brown Heads to China to Beg for California Bail-Out

/4 Comments/in , /by

Photo Credit: Washington Times

California Gov. Jerry Brown has designs on building some of the most expensive public works projects in the nation and wants to keep the state moving forward in its slow recovery from the recession.

Where better to go searching for the money to further those interests than the world’s second largest economy and a country that has piles of cash to invest around the globe?

The governor of the most populous U.S. state heads to China next week to begin a weeklong trade mission that he hopes will produce investments on both sides of the Pacific. Brown will lead a delegation of business leaders in search of what he calls “plenty of billions.”

“They’ve got $400 billion or $500 billion they’re going to invest abroad, so California’s got to get a piece of that,” Brown said in an interview last week ahead of his seven-day trip to China.

The governor and business leaders accompanying him are trying to rebuild the state’s official relationship with China after the state closed its two trade offices and others around the world a decade ago in a cost-cutting move. California finds itself playing catch-up to other states that have had a vigorous presence in China for years.

Read more from this story HERE.

China Flaunts Its Influence Over Golden Triangle in Capture of Drug Lord

/1 Comment/in , /by

Photo Credit: Adam Dean

It was 100 miles downstream from China, on the banks of the Mekong River, where a notorious drug lord slipped ashore in the dusk into the hands of law enforcement.

Security officials from Laos arrested the trafficker, Naw Kham, but the international manhunt that led to his capture was organized in Beijing, by top Chinese government officials intent on making him pay for the killings of 13 Chinese seamen on the river, which has become a major trade route into China.

The bodies of the Chinese, the crew of two cargo boats, were found badly mutilated on the Thai side of the river in early October 2011. The killings, the worst slaughter of Chinese citizens abroad in recent memory, angered the Chinese public. Chinese investigators insist that Mr. Naw Kham was the mastermind of the murders.

China’s search for Mr. Naw Kham, overseen by its powerful Ministry of Public Security, was a hard-nosed display of the government’s political and economic clout across Laos, Myanmar and Thailand, the three countries of Southeast Asia that form the Golden Triangle. The capture shows how China’s law enforcement tentacles reach far beyond its borders into a region now drawn by investment and trade into China’s orbit, and where the United States’ influence is being challenged.

It took six months for China to catch Mr. Naw Kham, a citizen of Myanmar in his 40s, a man of many aliases who was at the center of the booming synthetic drug business in the Golden Triangle, once known for its opium.

Read more from this story HERE.

China-Australia Pact Could Lead to Dollar's Collapse

/5 Comments/in , /by

Photo Credit: Zero Hedge

[T]he Australian [is] reporting that the land down under is set to say goodbye to the world’s “reserve currency” in its trade dealings with the world’s biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation, in the process “slashing costs for thousands of business” and also confirming speculation that China is fully intent on, little by little, chipping away at the dollar’s reserve currency status until one day it no longer is.

That said, this latest development in global currency relations should come as no surprise to those who have followed our series on China’s slow but certain internationalization of its currency over the past two years…

And while previously the focus was on Chinese currency swap arrangements, the uniqueness of this weekend’s news is that it promotes outright convertibility of the Yuan: something China has long said would happen but many were skeptical it ever would. That is no longer the case, and with Australia setting the precedent, expect many more Asian countries (at first) to follow in Australia’s footsteps, because while the developed world is far more engaged in diluting its currency as a means to spur “growth”, Asian and developing world nations are still engage in real, actual trade, where China is rapidly and aggressively becoming the world’s hub…

Why is this so very critical? For the simple reason that the free lunch the US has enjoyed ever since the advent of the US dollar as world reserve currency, may be coming to an end as other, more aggressive alternatives – both fiat, and hard-asset based – to the USD appear. And since there is no such thing as a free lunch, all the deferred pain the US Treasury Department has been able to offset thanks to its global currency monopoly status will come crashing down the second the world starts getting doubts about the true nature of just who the real reserve currency will be in the future.

Read more from this story HERE.

U.S., China Cyber Battle Intensifies

/0 Comments/in , /by

Photo Credit: AP

The United States and China appear locked in a cybersecurity war — of mostly words — that’s beginning to escalate.

Both the White House and Capitol Hill now explicitly criticize Beijing for failing to subdue the hackers and spies thought to reside within the country’s borders. And there are real punishments on the horizon, as the U.S. government eyes trade penalties and other restrictions on China and its top technology firms.

There needs to be “a little pain and pinch,” said Rep. Mike Rogers (R-Mich.) in an interview this week with POLITICO. The lawmaker, a longtime China critic on cybersecurity, was referring to both Beijing and the growing slate of other countries accused of spying or stealing from U.S. businesses.

The consensus in Washington is that China has become a hub for cyberhackers, who have targeted top U.S. businesses for trade secrets and other corporate or political intelligence. A controversial report from cybersecurity firm Mandiant even pegged some of the most significant attacks to an arm of the Chinese military, though the country’s top representatives have denied the accusations.

The political tensions, though, are reaching an unprecedented level.

Read more from this story HERE.

After A Decade Long Wait, China And Russia Ink ‘Super Jet’ Military Deal (+video)

/0 Comments/in , /by

Photo Credit: Forbes

A recent official visit to Moscow brought back some new souvenirs for the Chinese military. How about a reported 24 Sukhoi SU-35 fighter jets, and four submarines from Russia.

China‘s new president Xi Jinping was in Russia this week to meet with his Russian counterpart Vladimir Putin. Both sides agreed to two arms-sale contracts in which China will buy Russian Sukhoi made fighter jets, Xinhua and Agence France Press reported on Monday.

China has been itching to buy the planes since the 1990s and has been in hot pursuit since last March.

Russia’s Interfax confirmed the existence and date of that agreement back in February, but didn’t speculate on sales numbers. This month, official talks trimmed the order down to 24 planes from an initial discussion of 48 Sukhoi Super Flankers. The Russians are said to have more confidence that China can’t copy their engines, and are also said to need the SU-35 orders because Russia’s Defense Department is ordering follow-on buys of new upgraded Sukhoi SU-35s instead.

The deals raised concern among some regional defense players — namely India. China Central Television reported on Sunday that the purchase deals were signed before President Xi Jinping’s ever stepped foot into Russia. The military deal marks the first time in a decade that China had bought large military technological equipment from Russia, according to official television.

Watch video here:

Read more from this story HERE.

Mother Victimized By China’s One-Child Policy Commits Suicide

/0 Comments/in , /by

Photo Credit: LifeNews

In another tragic case, a 42-year-old mother took her life last week inside a local Family Planning Office after two botched forced sterilizations.

Yang Yuzhi, the mother of four, was forced to undergo sterilization surgery in 1995. However, the operation failed, and she was forced again in 2006 to undergo a second sterilization surgery. The surgery failed and led to infections in her intestines, leading to chronic pain and requiring regular doses of medication. Due to the financial burdens, Ms. Yang frequently petitioned the Family Planning Commission (FPC), but to no avail.

At around noon on March 13, 2013, Ms. Yang left home in a normal mental state and went to the local FPC office. Her son, Zhang Zhaofa, later recounted to the media: “The Family Planning Officials told us that while they were discussing Ms. Yang’s case with the village mayor, some workers found her already dead, having hanged herself at the top of the stairs. They secretly called the ambulance to move her body to the hospital, but didn’t inform the family in a timely manner.”

Read more from this story HERE.

Landrieu Angrily Confronts Cruz Over Abortion Amendment

/0 Comments/in , /by

Photo Credit: John Orrell

Ted Cruz’s effort to tie United Nations funding to China’s abortion policy provoked a sharp, private rebuke from Mary L. Landrieu on the Senate floor Saturday morning.

Shortly before 4 a.m., the Louisiana Democrat strode from her desk on the Democratic side of the chamber all the way to the Texas Republican’s desk on the far side to give him a piece of her mind after Cruz insisted on a roll call vote on his amendment to the Senate budget resolution. Cruz wanted to create a new point of order against funding the United Nations as long as any of its member nations have a policy of involuntary abortions.

“I suggested to him that a more direct and a more effective route might be for Texas to stop all exports to China or to stop any financial exchanges between Texas and China,” Landrieu told CQ Roll Call after she voted on the budget shortly before 5 a.m.

“That would have had a much more direct effect on what he was trying to do than take money from the U.N. … I thought he might like the idea. He should try it next time,” Landrieu said. After a cross-looking Landrieu left to return to her desk, a bemused Cruz smirked and chatted with Sen. Marco Rubio, R-Fla., who voted for the amendment.

The amendment had zero chance of passing — it was defeated 38-61 — but like many of the other amendments considered well after midnight, it appeared to be aimed at putting senators in a politically difficult position: either they go on record whacking the United Nations or they face the potential for attack ads saying they voted to protect forced abortions in China.

Read more from this story HERE.

News Editor’s Note: Alaska’s Lisa Murkowski sided with the Democrats (including, of course, Sen. Mark Begich) in voting against Cruz’s anti-abortion amendment.

Number Of Dead Pigs Found In Chinese Rivers Rises To 16,000

/0 Comments/in , /by

Photo Credit: AP

The number of dead pigs recovered in the last two weeks from rivers that supply water to Shanghai has risen to more than 16,000.

The government in China’s financial hub said 10,570 carcasses had been pulled from its Huangpu river. That is in addition to 5,528 pigs plucked from upstream tributaries in the Jiaxing area of Zhejiang province.

Authorities give daily updates, telling the public that tests show Shanghai’s water is safe, but no official has given any full explanation about the massive dumping of pig carcasses.

Read more from this story HERE.

China ‘To Overtake America By 2016’

/0 Comments/in , , /by

Photo Credit: EPA

China’s economy expanded last year at 7.8pc – its slowest pace in more than a decade – and recent data has fuelled concerns that any rebound in the country’s growth is losing steam.

However, the OECD was upbeat, predicting in a new survey of China’s prospects that the country’s economy could expand by 8.5pc this year and by 8.9pc in 2014.

While the OECD noted the slowdown in China’s aggressive expansion, it nonetheless predicted that growth should average 8pc in this decade at current rates of investment and reform.

After allowing for price differences, it forecast that China could become the world’s largest economy, overtaking America, around 2016.

Fuelling the OECD’s positive prediction was an optimistic outlook for investment spending in the world’s second-biggest economy. It pointed to substantial deficits in rail and road capacity relative to other major economies at similar stages of development, as well as to sub-standard housing as offering scope for more profitable spending on infrastructure.

Read more from this story HERE.

Official Chinese Gov’t Stats: a Staggering 330 Million Abortions Since 1971

/0 Comments/in , /by

Photo Credit: Alex E. Proimos

New data from China’s health ministry has revealed that approximately 330 million abortions have been performed in the country since 1971, according to AFP.

According to Chinese government researchers, currently about 13 million abortions occur annually, or about 1,500 every hour on average. As well, over the past 40 years Chinese officials have sterilized nearly 200 million men and women, and inserted 400 million intra-uterine devices.

Under China’s one-child policy, which was introduced in the late 1970s, Chinese couples are allowed to have only one child, although in some circumstances rural couples may be permitted to have a second, if the first is a girl.

The policy is enforced through brutal forced abortions and sterilizations, and the levying of crippling fines, sometimes amounting to several times a family’s annual income.

Concerns have been mounting, including in China, that with a rapidly aging population as well as a significant gender imbalance due to the prevalence of sex-selective abortion, the one-child policy is setting the country up for economic and social collapse.

Read more from this story HERE.