Posts Tagged ‘ China ’

China: Regime says netizens who spread rumors about Tianjin blasts, stock slide among 197 punished

August 31, 2015
posted by

Greenfield Daily Reporter    

"People recently punished in China's campaign against online rumors include those who circulated an inflated death toll in the Tianjin blasts and who alleged a man committed suicide because of the country's stock market woes, state media reported Monday. The official Xinhua News Agency said 197 people have been punished in a special campaign, citing the Public Security Ministry, but did not say over what period." (08/30/15)

http://tinyurl.com/o3kqtet  

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Why devaluing the yuan won’t help China’s economy

August 27, 2015
posted by

Frank Shostak Ludwig von Mises Institute
by Frank Shostak  

"Earlier this month, the Chinese government decided to depreciate its currency on three consecutive occasions. On August 13, the price of the US dollar was trading at 6.413 -- an increase of 3.3 percent against July. The key factor behind the central bank's lowering of the yuan is a sharp decline in the growth momentum of exports with the yearly rate of growth falling to minus 8.3 percent in July from 2.8 percent in June. It is held that by means of currency depreciation that it is possible to strengthen the export of goods and services, thereby strengthening the gross domestic product (GDP), which currently displays a visible weakening." (08/27/15)

https://mises.org/library/why-devaluing-yuan-wont-help-chinas-economy  

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China: Central bank cuts rates, reserve ratio to aid economy

August 25, 2015
posted by

Reuters Reuters    

"China's central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stumbling economy and a plunging stock market that has sent shockwaves around the globe. Global shares, bond yields and oil prices all rallied on the news as investors looked to the policy easing to stabilise for now China's battered stock market, which has nosedived more than 15 percent this week." (08/25/15)

http://tinyurl.com/p5j74ky  

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Japan: Abe to skip China visit during World War Two commemoration

August 24, 2015
posted by

NDTV [India]    

"Japanese Prime Minister Shinzo Abe will not visit China next week, the government said today, as Beijing prepares for a huge military parade to mark the 70th anniversary of Tokyo's defeat in World War II. Abe had decided to put off a visit 'given the situation in parliament,' said top government spokesman Yoshihide Suga. The prime minister faces a parliamentary backlash over his efforts to expand the role of the country's military. But local media said Japan's government was concerned about the anti-Japanese nature of the planned massive parade through central Beijing and other events to commemorate Tokyo's World War II surrender." (08/24/15)

http://tinyurl.com/p5n6tru  

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Reserve judgment

August 24, 2015
posted by

The Cobden Centre
by Sean Corrigan  

"Long hours of trying to reconcile the conflicting and partial Chinese data on gold have yielded little result other than to say that reserves appear to be held at some sort of yuan historic cost measure on the PBoC's books while being declared in mark-to-market dollars in the reserve total. What we might note, however, is that the authorities themselves have intimated that they might be absorbing domestic mine output (together with scrap resales). This would both help bail-out the diggers and stabilize the money supply itself in the face of ongoing FX purchases, as discussed above. As such, the injection is likely to be more 'high-powered' than that attained by giving over-burdened banks new assets. It might also forestall distress selling of collateralized gold in the manner of that which has afflicted, e.g., copper." (08/21/15)

http://www.cobdencentre.org/2015/08/reserve-judgement/  

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China: At least 44 dead in port explosions

August 13, 2015
posted by

The Washington Post Washington Post    

"A warehouse in the Chinese port city of Tianjin erupted in a series of explosions late Wednesday, killing 44 people and spewing massive fireballs and billowing clouds of smoke into the night sky. The blasts, which were powerful enough to register on earthquake monitoring scales, came from a warehouse storing 'dangerous and chemical goods' that had caught on fire, state media reported. At least 12 of the 44 killed were firefighters and an additional 66 victims have been hospitalized with critical injuries." (08/13/15)

http://tinyurl.com/o499l59  

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Was China’s devaluation a beggar-thy-neighbor policy?

August 11, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"I've argued that devaluations are not beggar-thy-neighbor policies. More specifically, the Chinese need to devalue their currency to boost NGDP (and RGDP) growth, and that this would also help the world economy, as a more prosperous China would import more goods. And yet, news reports this morning suggest that China's 2% devaluation last night boosted Chinese stocks and hurt western stocks. Was I wrong?" (08/11/15)

http://econlog.econlib.org/archives/2015/08/was_chinas_deva.html  

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China: Regime to set up censorship offices inside Internet companies

August 5, 2015
posted by

Ars Technica Ars Technica    

"So here's a problem. You're a government that has already brought in some of the most repressive online censorship measures anywhere in the world, and yet you worry that you might not be in complete and total control of what's going on in the digital world. You're particularly concerned that leading online companies and top websites, perhaps too focused on making money, may let something politically embarrassing slip through the net, onto the 'Net, before you can stop it. What's a poor repressive regime to do to get that little bit of extra grip on things. Well, if you're China, you put government censorship offices inside the companies." (08/05/15)

http://tinyurl.com/p7xu9n3  

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China’s 1929 moment

August 3, 2015
posted by

The Cobden Center
by Alasdair MacLeod  

"Anyone with a nose for markets will tell you that the Chinese government's attempt to rescue the country's stock markets from collapse is far from succeeding." (08/03/15)

http://www.cobdencentre.org/2015/08/chinas-1929-moment/  

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China: The real problem is nominal

August 3, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"There is nothing wrong with 5.8% NGDP growth. If China kept growth at that pace for the next 20 years, their business cycle would become more stable. The problem now, and in the late 1990s, is the sharp deceleration in NGDP growth." (08/03/15)

http://econlog.econlib.org/archives/2015/08/china_the_real.html  

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China, Russia to hold joint naval, air drills

July 30, 2015
posted by

Economic Times [India]    

"China and Russia will hold joint military drills in the waters and airspace of the Sea of Japan, Beijing said Thursday, the latest defence cooperation between the countries. ... The drills come as Beijing and Moscow intensify cooperation in military, political and economic spheres. In May they conducted their first joint naval exercises in European waters in the Black Sea and Mediterranean. It was China's farthest ever naval exercise from its home waters." (07/30/15)

http://tinyurl.com/phkugz3  

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How to deal with China

July 28, 2015
posted by

Jacob G Hornberger Future of Freedom Foundation
by Jacob G Hornberger  

"The New York Times recently carried a story detailing China's increasing economic clout around the world, brought about by billions of dollars in cash and grandiose socialist projects in targeted countries. ... Not surprisingly, this phenomenon has U.S. officials terribly concerned, especially as they see much of the world turn against the United States for the way it extends its hand of friendship -- through invasions, occupations, wars of aggression, support of brutal dictatorial regimes, coups, regime-change operations, troops, military aid, torture, and foreign military bases. So how are U.S. officials responding to these overtures of foreign friendship by the Chinese government? Viewing China as an economic 'rival' who is seen as becoming overly 'aggressive' and 'assertive,' U.S. officials are responding in the same way they always have to the socialist world -- by becoming more socialist than the socialist regimes they view as 'rivals.'" (07/28/15)

http://fff.org/2015/07/28/deal-china/  

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China: Police bust phone manufacturing entrepreneurs to protect IP monopolists

July 27, 2015
posted by

Reuters Reuters    

"Police in Beijing have busted a factory that produced more than 41,000 fake iPhones worth as much as 120 million yuan ($19 million), including some that reached the United States, and have arrested nine suspects in the counterfeiting operation. Apple is one of the most popular brands in China, where authorities have stepped up efforts in recent years to dispel the country's reputation for turning out counterfeit goods. Officials have taken stiffer action to enforce intellectual property (IP) rights [sic], pushed firms to apply for trademarks and patents and cracked down on fakes." (07/27/15)

http://tinyurl.com/p2kft33  

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China: Shanghai share index suffers biggest daily drop since 2007

July 27, 2015
posted by

Connecticut Post    

"The Shanghai share index fell the most since early 2007 on Monday as Chinese stocks suffered a renewed sell-off despite government efforts to calm the market. The Shanghai Composite Index closed down 8.5 percent at 3,725.56 with most of the plunge occurring in the last hour of trading. Other stock benchmarks around the world also were lower." (07/27/15)

http://tinyurl.com/p3cv9ls  

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Myanmar: 152 Chinese nationals sentenced to life for illegal logging

July 24, 2015
posted by

Times of India [India]    

"China is raging after a court in northern Myanmar sentenced 152 Chinese nationals to life imprisonment for violating the law against destroying public properties. Most of them have been accused by the government prosecutor of illegal logging despite persistent pressure from Beijing against such a move. The incident, which comes after Myanmar government's decision to stop some Chinese projects including a hydroelectricity dam, is expected to affect relations between the two countries ahead of general elections in Myanmar, sources said." (07/23/15)

http://tinyurl.com/pjq2wts  

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Turkey: Protesters ransack Thai consulate over Uighur deportations

July 9, 2015
posted by

Christian Science Monitor Christian Science Monitor    

"On Thursday, Turkish protesters vandalized the Thai consulate in Istanbul following the deportation of more than 100 Uighurs from Thailand. Human rights groups claim that the deported Uighurs hold refugee status and that they will face persecution and violence in China. Uighurs (pronounced 'WEE-ghers') are a Muslim Turkic ethnic group, mostly residing in the western region of Xinjiang. Ethnic violence in the region has left hundreds dead over the past two years. Chinese authorities blam Uighur extremists for the unrest. For Thailand, the refugees were not their problem, according to Thai Prime Minister Gen. Prayuth Chan-ocha, and that they would be sent to a different country that would deal with the refugees according to its own judicial system. He did not mention China." (07/09/15)

http://tinyurl.com/pehtwwc  

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Reading war with China

June 22, 2015
posted by

Kelley B Vlahos The American Conservative
by Kelley Vlahos  

Review of Ghost Fleet, by Peter W. Singer and August Cole: "Imagine a near-future scenario in which China and Russia sneak-attack America's assets in the Pacific, sink its fleet, and occupy Hawaii in order to stage a multi-front war of land, sky, space, and cyber. Meanwhile, U.S. Marines turn into mujahedeen, NATO crumbles like a cookie, and Wall Street plunges into a black shroud of despair." (06/22/15)

http://tinyurl.com/q472w9e  

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Philippines, US, Japan hold military drills near South China Sea

June 22, 2015
posted by

Voice of America [US state media]    

"Military exercises between the United States and the Philippines opened Monday, at the same time that the Japanese and Philippine navies started joint training. Both operations are being held on the island province of Palawan, located near the hotly contested South China Sea." (06/22/15)

http://tinyurl.com/ngujxfn  

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Hong Kong: Legislature vetoes Beijing-backed “electoral reform” proposal

June 18, 2015
posted by

Reuters Reuters    

"Hong Kong's legislature on Thursday vetoed a China-vetted electoral reform package criticized by opposition pro-democracy lawmakers and activists as undemocratic, easing for now the prospect of fresh mass protests in the financial hub. The rejection had been expected and will likely appease some activists who had demanded a veto of what they call a 'fake' democratic model for how the Chinese-controlled territory chooses its next leader in 2017. It will, however, be a blow to Beijing's Communist leaders, who had pressured and cajoled the city's pro-democracy lawmakers to back the blueprint that would have allowed a direct vote for the city's chief executive, but with only pre-screened, pro-Beijing candidates on the ballot." (06/18/15)

http://tinyurl.com/pe76osm  

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IMF turnaround on the yuan

June 16, 2015
posted by

James A Dorn Cato Institute
by James A Dorn  

"For years, China has been accused of being a 'currency manipulator' by deliberately undervaluing its currency to spur exports. Official bodies like the International Monetary Fund softened the language by using the term 'misaligned currency' and used sophisticated techniques to gauge how far the yuan was from its fundamental equilibrium value. ... Those arguments still persist as some members of Congress, such as Republican Senator Lindsey Graham and Democratic Senator Charles Schumer, seek to include provisions in U.S. trade bills that would penalize currency manipulators. Yet, in a turnaround from past statements, the IMF has declared that the yuan is close to its equilibrium value." (06/15/15)

http://www.cato.org/publications/commentary/imf-turnaround-yuan  

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A Chinese pivot to Latin America?

June 9, 2015
posted by

Ted Galen Carpenter Cato Institute
by Ted Galen Carpenter  

"Washington's attempts to meddle in the South China Sea territorial disputes and discourage its allies from joining the new, Chinese-promoted Asian Infrastructure Investment Bank likewise suggest mounting U.S. involvement in China's neighborhood. Moreover, that expanded involvement has the implicit objective of curbing Chinese influence in the political, economic, and military arenas. There are now subtle signs that China may be countering the U.S. strategic pivot by becoming more deeply involved in Washington's long-standing geopolitical backyard: Latin America." (06/09/15)

http://tinyurl.com/pbtpa7j  

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Hackers breach US government personnel office

June 5, 2015
posted by

The Washington Post Washington Post    

"Chinese hackers breached the computer system of the Office of Personnel Management in December, officials said Thursday, and the agency will notify some 4 million current and former federal employees that their personal data may have been compromised. ... OPM, using new tools, discovered the breach in April, said officials at the agency who declined to comment on who was behind the hack. Other U.S. officials, who spoke on conditions of anonymity because it is an ongoing investigation, identified the hackers as being from China. The data potentially exposed included employees' job assignments, performance ratings and training, the officials said. The breach did not involve background or clearance investigations, they said." (06/04/15)

http://tinyurl.com/nodjvc4  

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Hong Kong: Tens of thousands gather to remember 1989 Tiananmen massacre

June 4, 2015
posted by

Time Magazine    

"As it does on every June 4, Hong Kong's Victoria Park turned into a sea of humanity Thursday night local time as people gathered for a candlelight vigil in remembrance of the 1989 Tiananmen Square massacre in Beijing, when hundreds if not thousands of youngsters demanding democracy were killed by the Chinese army. People began pouring in to the large public park in Hong Kong’s downtown Causeway Bay district by 6 p.m., two hours before the sweltering vigil officially began, and continued to arrive well after it started. Volunteers from various political parties and civil society groups lined the approach, addressing the crowd through loudhailers, attempting to raise funds and -- this being pragmatic, capitalist Hong Kong -- selling fans and small folding chairs." (06/04/15)

http://tinyurl.com/p53tkvd  

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China: Hundreds missing as cruise ship capsizes in Yangtze

June 2, 2015
posted by

ABC News ABC News    

"Six people were rescued from inside a cruise ship that capsized in a storm on China's Yangtze River with hundreds more aboard, state broadcaster CCTV reported. At least 12 others survived, including the captain and chief engineer, while five were killed during a cruise late Monday from Nanjing to Chongqing, reported CCTV. At least 458 people were aboard the ship, most of them elderly." (06/02/15)

http://tinyurl.com/pa55jwu  

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Chinese democracy isn’t inevitable

May 31, 2015
posted by

The Atlantic The Atlantic
by Daniel A Bell  

"The flaws in China's political system are obvious. The government doesn't even make a pretense of holding national elections and punishes those who openly call for multiparty rule. The press is heavily censored and the Internet is blocked. Top leaders are unconstrained by the rule of law. Even more worrisome, repression has been ramped up since Xi Jinping took power in 2012, suggesting that the regime is increasingly worried about its legitimacy. Some China experts -- most recently David Shambaugh of George Washington University -- interpret these ominous signs as evidence that the Chinese political system is on the verge of collapse. But such an outcome is highly unlikely in the near future." (05/29/15)

http://tinyurl.com/oxc4xqs  

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