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Japan: On Path to Rearming?

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WASHINGTON – Despite what has been described as a “pacifist” constitution implemented following World War II, Japan is considering rearming to offset what is perceived in the East Asia region as a more assertive China, according to a report from Joseph Farah’s G2 Bulletin.

That nation is throwing around its military weight to enforce its hegemony over the East and South China Seas.

Almost all the countries in the region are affected by China’s new assertiveness in the region, including Vietnam, the Philippines and even India, in addition to Japan. All have open and somewhat confrontational disputes with Beijing over jurisdiction over islands and potential maritime oil and gas resources.

For India, it has a number of contracts with Vietnam for offshore oil and gas exploration in the East and South China Seas to meet its increasing energy demands. In recent months, China and India have had disputes over access to areas where Beijing claims exclusive jurisdiction.

In addition to separate disputes between New Delhi and Beijing over land border disputes between the two countries, India has decided to enhance its presence in the East and South China Seas with an increased military naval presence of its own.

Read more from this story HERE.

Obama’s Orwellian Double-Speak: I’ve Made the US ‘Safer, Stronger and More Respected in the World’

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At yesterday’s nomination of Senator John Kerry as the United States’ next Secretary of State, Obama made the ridiculous statement that he’d made the US “safer, stronger and more respected in the world.”

How any American could possibly believe this crazy talk is beyond me.

Anyone who spends more than a minute or two each day reviewing the news can see that Obama’s entire Middle East policy has completely unraveled, leaving the world deeply destabilized.

Obama thinks things are safer? How about Iran’s ever-advancing nuclear program, with its weapons manufacturing now buried so deep underground that it’s immune from our bombs. Iran has been so emboldened by Obama that, according to Hillary Clinton, the Persians are now spreading terrorism to our next door neighbor, Mexico, and creating new alliances with drug cartels.

And respect? Is that how our ambassador in Benghazi was treated?

Things aren’t much better in Iraq. There, fatwas have issued, encouraging the killing of Christians. Much of the vibrant Christian Iraqi community has fled the country. Similarly, in Syria, US-backed rebels are suspected of using the cover of civil war to murder minority Christians. Minority religious groups are literally under the gun in Egypt now, too.

Obama’s fingerprints are all over this growing Egyptian problem, where we exchanged one pro-American dictator for an anti-American, anti-Semitic dictator. According to an Egyptian opposition leader with whom I spoke with this week, the Obama administration actually pressured the Egyptian military to “fix” the vote to ensure that the Muslim Brotherhood presidential candidate, Mohammed Morsi, won.

Now that Obama helped this radical into office, President Morsi has attempted to seize broad, unconstitutional powers. His supporters have used torture, rape and sexual assault to stifle dissent. And the media refuses to provide fair coverage.

The globalist Henry Kissinger seems to recognize where Obama is headed with these pro-Muslim Brotherhood policies, suggesting that Israel will cease to exist in ten years.

It can’t help that Syria has likely gained ballistic missiles as a result of our meddling there.

How about China, thumbing its nose at the US and threatening our Japanese ally over its long held control of several remote islands in the Pacific Ocean? And this is not the only place in the Pacific where the Chinese are flexing their muscle and threatening massive global disorder.

There’s no doubt that Obama’s full-body embrace with the Muslim Brotherhood has been one of the most catastrophic foreign policy blunders of recent history. That, combined with Obama’s coddling of Chavez, refusal to stand up to China, passivity to Russian aggression (submarines off the US coast, bombers near Alaska airspace), social experimentation in the US military, and other apparent missteps, make it clear that Obama has not given us a safer world. His actions have encouraged derision, instability, and a far more insecure future.

Knife-Wielding Man Injures 22 Children in China

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photo credit: the ewan

BEIJING (Reuters) – A knife-wielding man slashed 22 children and an adult at an elementary school in central China on Friday, state media reported, the latest in a series of attacks on schoolchildren in the country.

The man attacked the children at the gate of a school in Chenpeng village in Henan province, the Xinhua news agency reported.

Police arrested a 36-year-old man, identified as villager Min Yingjun, Xinhua said. It did not give further details of the extent of the injuries.

Read more from this story HERE.

Chinese Investors Take 80% Stake in AIG Aircraft Leasing Unit

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American International Group agreed Monday to sell an 80.1% stake in its giant aircraft leasing business to a group of Chinese investors.

The investor group, which includes New China Trust, China Aviation Industrial Fund and P3 Investments, will pay $4.23 billion to acquire the stake in AIG’s International Lease Finance Corporation. The deal includes an option for the investors to purchase an additional 9.9% stake.

The acquisition is part of AIG’s (AIG, Fortune 500) drive to sell non-core assets, a strategy designed to help the insurance company emerge from the financial crisis, during which it required a government bailout, as a leaner business.

If the option to expand the purchase to 90% of ILFC is exercised, the investor group will grow to include New China Life Insurance and an investment arm of ICBC International.

ICBC International is a Hong Kong-based subsidiary of the Industrial and Commercial Bank of China — a state-owned enterprise and one of the largest banks in the world.

Read more from this story HERE.

Chinese Buyers Lead Foreign Investment in US Housing Market (+video)

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As the U.S. housing market slowly starts to recover, foreign investment is helping it along.

According to the National Association of Realtors, non-American buyers accounted for $82 billion in home sales last year. More than $7 billion of that is by the Chinese, who are now the second largest foreign home purchasers after Canadians. They’re buying high-end, multimillion-dollar homes from California to New York and paying cash.

“They’re probably the top 1 percent of the Mandarin speakers that are coming from China,” said Brent Chang, a Coldwell Banker realtor in Southern California. “They’re really the people who have their own businesses or maybe were part of the government.”

Some of these homes are specifically catered to Chinese buyers. Fox News visited a home listed at $8 million in Pasadena, Calif., that had two kitchens, the smaller one had ventilation for the cooking for aromatic or “stinky” foods like fish. It also has a lower level in-law suite and even a koi pond.

“People from China do a lot more business in their homes so they want their homes to really scream that they’ve made it and they’re successful, ” said Chang.

Read more from this story HERE.

Former GM Engineer, Husband Convicted of Stealing Trade Secrets for Possible Use in China

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DETROIT (AP) — A former General Motors engineer with access to the automaker’s hybrid technology was convicted Friday along with her husband of stealing trade secrets for possible use in China.

Shanshan Du won a transfer within GM in 2003 to be closer to the technology and then copied documents until she accepted a severance offer and left the company in 2005, prosecutors said.

Du, 54, and Yu Qin, 51, were found guilty Friday by a federal jury in Detroit after a trial that lasted weeks. Qin also was convicted of wire fraud and attempting to obstruct justice by shredding documents. They shook each other’s hand after the verdict but declined to comment, as did their attorneys.

Du faces up to 10 years in prison, while her husband faces up to 30. No sentencing date has been set.

Prosecutors told jurors that GM trade secrets were found on at least seven computers owned by the Oakland County couple. The government doesn’t believe the information ever made it to China, although Qin had set up his own company, Millennium Technology International, and claimed to have made contact with GM competitors overseas.

Read more from this story HERE.

U.S. Treasury Declines to Name China Currency Manipulator

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China isn’t a currency manipulator under U.S. law, though the yuan “remains significantly undervalued” and needs to rise further, the Treasury Department said.

China “has substantially reduced the level of official intervention in exchange markets since the third quarter of 2011,” the Treasury said in a statement accompanying its semi- annual currency report to Congress yesterday. The yuan has gained 9.3 percent in nominal terms and 12.6 percent in real terms against the dollar since June 2010, the Treasury said.

“It appears that the strategy of the last two administrations to use diplomacy rather than confrontation in dealing with the yuan’s value is having some positive results,” William Reinsch, president of the National Foreign Trade Council, a Washington-based business group, said in an e-mail after the report. “There is clearly room for further appreciation, however.”

In declining to brand China a manipulator, the Treasury cited the reduced intervention and “steps to liberalize controls on capital movements, as part of a broader plan to move to a more flexible exchange-rate regime.” The U.S. hasn’t designated another nation since 1994, when it named China.

Critics of China’s exchange-rate policies, including former Republican presidential candidate Mitt Romney, say the nation deliberately suppresses the value of its currency, making its goods cheaper in overseas markets and costing jobs in the U.S.

Read more from this story HERE.

Corporate Tax Cuts Enacted: Economic Stimulus Old-School-Capitalist Style . . . in China!

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photo credit: wisegie

China’s new round of structural tax cutting is likely to benefit more than 900,000 enterprises nationwide, according to a working conference held here on Monday to discuss the country’s piloting of replacing business tax with a value-added tax (VAT).

About 710,000 enterprises have been covered by the tax-cutting program, and another 200,000 will be included starting from Dec.1 this year, according to the meeting jointly held by the Ministry of Finance and the State Administration of Taxation.

Shanghai piloted the program on Jan. 1 this year in an effort to decrease the overall tax burden and boost the transportation and service sectors. The pilot was then expanded to provincial regions including Beijing, Guangdong and Zhejiang later this year . . .

The reform has effectively promoted the growth of tertiary industry, especially the service sector, and encouraged the development of small and micro-sized enterprises, those present at the meeting agreed.

Read more from this story HERE.

China Lands J-15 Jet on Liaoning Aircraft Carrier

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China has successfully landed a jet fighter on its new aircraft carrier for the first time, officials say.

A Chinese-made J-15 fighter landed on the 300m (990ft) former Soviet carrier during recent exercises, China’s defence ministry said on Sunday.

The Liaoning, China’s first aircraft carrier, entered into service in September.

China says the vessel has had extensive sea trials and will increase its capacity to defend state interests.

Analysts say the aircraft carrier will allow Beijing to help project its military might in territorial disputes.

Read more from this story HERE.

Report: China Eyeing Strategic Atlantic Island Base to Threaten American Mainland

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On June 27, a plane carrying Wen Jiabao made a “technical” stop on the island of Terceira, in the Azores. Following an official greeting by Alamo Meneses, the regional secretary of environment of the sea, the Chinese premier spent four hours touring the remote Portuguese outpost in the middle of the Atlantic Ocean.

Wen’s Terceira walkabout, which followed a four-nation visit to South America, largely escaped notice at the time, but alarm bells should have immediately gone off in Washington and in European capitals. For one thing, Wen’s last official stop on the trip was Santiago, the capital of Chile. Flights from Chile to China normally cross the Pacific, not the Atlantic, so there was no reason for his plane to be near the Azores. Moreover, those who visit the Azores generally favor other islands in the out-of-the-way chain.

Terceira, however, has one big attraction for Beijing: Air Base No. 4. Better known as Lajes Field, the facility where Premier Wen’s 747 landed in June is jointly operated by the U.S. Air Force and its Portuguese counterpart. If China controlled the base, the Atlantic would no longer be secure. From the 10,865-foot runway on the northeast edge of the island, Chinese planes could patrol the northern and central portions of the Atlantic and thereby cut air and sea traffic between the U.S. and Europe. Beijing would also be able to deny access to the nearby Mediterranean Sea.

And China could target the American homeland. Lajes is less than 2,300 miles from New York, shorter than the distance between Pearl Harbor and Los Angeles.

Lajes is certainly the reason Wen went out of his way to win friends in Terceira. For years his country has been trying to make inroads into the Azores and waiting for opportunities to pounce. There is nothing the Chinese can do if the U.S. stays, but Pentagon budget cutters, according to some observers, are planning to make Lajes a “ghost base.”

Read more from this story HERE.