Category: 02 China

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NIGHTWATCH: Chinese Economy – Greece on Steroids

02 China

China: The Ministry of Commerce said on 16 November that China's exports are feeling pressure from global economic uncertainties. A spokesman said the ministry cannot be optimistic about the export situation during the coming period, citing a downshift in global economic recovery, a downgrade of the US credit rating and the expansion of the European debt crisis. He said that frequent protectionist measures and trade disputes have had a “relatively large influence” on China's exports and that these issues, along with rising costs at home, have complicated China's foreign trade outlook.

Comment: The Xinhua report is significant for several reasons. First it disclosed that the Chinese government expects that the credit rating of the United States will be downgraded. Second, the Chinese economists predict a contraction of the global economy. Finally, the Chinese anticipate a contraction of globalization as the result of protectionist policies, in other words, a reassertion of economic nationalism. The Chinese seem to expect that the export markets for cheap Chinese manufactures will shrink and the prices for raw materials will rise.

The apparent Chinese linkage of the US credit rating to the European debt crisis implies that the Chinese know or believe that US banks have much greater exposure to European sovereign debt than they have admitted. The Chinese assessment evidently is that Europe will drag down the US.

One Chinese economist, a professor of finance at the Chinese University of Hong Kong, recently wrote that the Chinese banking system is nearly bankrupt already and China's Gross Domestic Product is declining, but the Chinese are hiding the data. He wrote that “every province in China is Greece.”

This note is a warning to hedge bets in China in 2012.

NIGHTWATCH KGS Home

Phi Beta Iota:  Holistic analytics requires a responsible integration of all ten high level threats to humanity and all twelve core policy domains, among which energy and water are the most tangible.  Countries that fail to plan for long-term affordable energy and for the protection and renewal of potable water will inevitably fail.

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Mini-Me: TheyRule Web Site Back Online

02 China, 03 Economy, 06 Russia, 07 Other Atrocities, 08 Wild Cards, Commerce, Commercial Intelligence, Corruption, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests
Who? Mini-Me?

They were online many years ago, then gone, now back.

They Rule – Facts & Charts

See Also:

Who Rules the World

How the Crown Rules the World

Who is the ‘Goldman Sachs rules the world' trader?

Review: Gods of Money – Wall Street and the Death of the American Century

Review: Griftopia–Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

Journal: $750 Billion Wall Street Scam, Russian Anger, Chinese Intent, We are NOT Making This Up!

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Mini-Me: From Arab Spring to Death of the US Empire

02 China, 02 Diplomacy, 03 Economy, 04 Inter-State Conflict, 05 Civil War, 06 Russia, 07 Other Atrocities, 08 Wild Cards, 10 Security, 11 Society, Analysis, Commerce, Commercial Intelligence, Corruption, Cultural Intelligence, Government, IO Deeds of War, Military, Money, Banks & Concentrated Wealth, Movies, Policy, Power Behind-the-Scenes/Special Interests, Strategy
Who? Mini-Me?

‘Arab Spring is about controlling Eurasia'

Includes Video (12:04)

The ultimate goal of the US is to take the resources of Africa and Middle East under military control to block economic growth in China and Russia, thus taking the whole of Eurasia under control, author and historian William F. Engdahl reveals.

­The crisis with the US economy and the dollar system, the conduct of the US foreign policy is all a part of breakdown of the entire superpower structure that was built up after the end of WWII, claims Engdahl.

“Nobody in Washington wants to admit, just as nobody in Britain a hundred years ago wanted to admit that the British Empire was in terminal decline,” claims the author, noting that “All of this is related to the attempt to keep this sole superpower not only intact, but to spread its influence over the rest of the planet.”

William F. Engdahl believes the uprisings in the Middle East and North Africa is a plan first announced by George W. Bush at a G8 meeting in 2003 and it was called “The Greater Middle East Project”.

Continue reading “Mini-Me: From Arab Spring to Death of the US Empire”

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John Robb: China Bans “Occupy” as Search Term

02 China, 09 Justice, 10 Security, 11 Society, Blog Wisdom, Civil Society, Cultural Intelligence, IO Impotency
John Robb

‘Occupy' Now a Banned Search Term in China

A good rule of thumb for life is that if the Chinese government is against it, you're probably doing something right. The latest evidence to support this axiom is the Occupy Wall Street movement, which has spread from lower Manhattan to cities around the globe, including London, Auckland, Toronto, and Rome, among many others. Terrified by OWS' viral growth, the oppressive regime controlling China is taking measures to ensure the protests don't happen there. And it's starting with the internet.

Read full story.

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DefDog: Chinese Pledge to Buy Europe…#OWS

01 Brazil, 02 China, 03 Economy, 03 India, 04 Indonesia, 06 Russia, Government
DefDog

China makes ‘secret eurozone commitment'

AFP, 16 October 2011

LONDON — China has made a “secret commitment” to prop up the crisis-hit eurozone in return for budget reforms and public sector cuts, the Sunday Times reported, amid ongoing turmoil over the region's debt crisis.

The paper said Chinese representatives at the Paris G20 finance gathering on Saturday had indicated that Beijing was willing to pump tens of billions into the eurozone to purchase infrastructure assets from debt-plagued nations.

The Sunday Times, which quoted a source close to the talks, added that Chinese banks could also increase their purchases of eurozone sovereign debt.

“China wants to be sure that Europe knows the size of the hole and that it won't get any bigger before they agree to fill it in,” the paper quoted the source as saying.

Europe had vowed to its G20 partners Saturday that it would take swift and decisive action to resolve a debt crisis that is threatening to drag the world economy back into recession.

French Finance Minister Francois Baroin, speaking after the meeting of G20 finance ministers and central bankers, said the eurozone would present answers as soon as next weekend, at a summit of EU leaders in Brussels on October 23.

Phi Beta Iota:  Predatory capitalism and inverted democracy are now “bracketed” by the emerging new financial order on the one hand (Brazil, China, India, Indonesia, Russia, South Africa + 50 other countries behind the scenes), and OccupyWallStreet in over 900 locations around the world.  The world is at a design opportunity point.  China will err on the side of institutions (doing the wrong thing wronger) and OWS will err on the side of populism in place of insttutions.  We need a blend of both–a hybrid system whose signal characteristic must be transparency for truth producing trust.

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Marcus Aurelius: Romney Slams Obama, Postures At VMI

02 China, 06 Family, 07 Other Atrocities, 09 Justice, 10 Security, 11 Society, Civil Society, Corruption, Cultural Intelligence, IO Impotency
Marcus Aurelius

Romney Criticizes Obama at Military College

This morning, Mitt Romney used his foreign policy address at the Citadel in Charleston, South Carolina to criticize what he called the Obama administration's “feckless policies of the last three years.”

“I believe we are an exceptional country with a unique destiny and role in the world,” Romney said, with an audience of cadets sitting behind him. “Not exceptional, as the president has derisively said, in the way that the British think Great Britain is exceptional or the Greeks think Greece is exceptional. In Barack Obama’s profoundly mistaken view, there is nothing unique about the United States.”

Romney criticized the president on cutting the defense budget, as well. “I will reverse President Obama’s massive defense cuts,” he said. “I will begin reversing Obama-era cuts to national missile defense and prioritize the full deployment of a multilayered national ballistic missile defense system.”

Continue reading “Marcus Aurelius: Romney Slams Obama, Postures At VMI”

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Alessandro Politi: Need for Euro to Default As a Group, Nail the Banks and Restore Integrity of Global Economy (Full Text Online for Google Translate)

01 Poverty, 02 China, 03 Economy, 07 Other Atrocities, 08 Wild Cards, 09 Justice, 10 Transnational Crime, 11 Society, Ethics, Government, Officers Call, White Papers
Alessandro Politi

Phi Beta Iota:  This brilliant analysis cuts deeply to two core points: that a tiny handful of banks have been controlling 90% of the debt and manipulating the destruction of economies — shorting the Euro as well as the US dollar — and that governments have not been acting together.  He neglects two fundamentals: the lack of integrity in these same government, most in collusion with the banks against the public; and the lack of integrity — the blatant persistent transnational criminal activities of the banks — of the handful of banks that have brought the world to the brink.  Electoral reform is needed to cleanse the governments, and the governments should be taking legal action to destroy the banks and recover the criminally-rooted losses.  We totally agree that Europe should default in unison, but we also feel that global criminal action against the specified banks and all of their owners, partners, and senior managers should be taken toward the aim of de-privatizing public goods and confiscating assets back toward  the public commonwealths.  Put bluntly, it is time we melt Goldman Sachs down and deprive the individual financial criminals of 95% of their wealth that is rooted in deliberate criminal activity against people and nations.

260911 1103

Alessandro Politi

Euro crisis and common sense 1

What does this crisis mean?

In times of emergency clarity of analysis and purpose is of paramount importance, especially when public leadership is so mediocre. In this first piece we will look first at the analysis framework at global level.

Forget about the markets. This is just a misleading shorthand expression that obscures a simple fact. The OECD has observed that, after decades of M&A, during this year 9 major economic actors control beyond 90% of the derivatives market (i.e. CDS, CDO, exchange rate swaps). They are:

  • J.P Morgan, Bank of America-Merrill Lynch, Citibank, Goldman Sachs, HSBC USA;
  •  Deutsche Bank, UBS, Credit Suisse, BNP-Paribas.

This is an oligopolistic market where small stakeholders are just cannon fodder and governments have generally no sufficient financial muscle. These are the entities that make the market and break national financial reputations, economic fundamentals notwithstanding.

Continue reading “Alessandro Politi: Need for Euro to Default As a Group, Nail the Banks and Restore Integrity of Global Economy (Full Text Online for Google Translate)”