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China ChiCom News Thread

LordsFire

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Even with this if Russia accepts chinese money for oil and gas then that is a massive win for china.
A massive win for China, but a huge loss for Russia. It's not as bad as taking payment in monopoly money, but in the very near future, it might not be that far off. If the Chinese economic collapse enters free-fall, that Yuan will be just about worthless.
 

Cherico

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A massive win for China, but a huge loss for Russia. It's not as bad as taking payment in monopoly money, but in the very near future, it might not be that far off. If the Chinese economic collapse enters free-fall, that Yuan will be just about worthless.
I will have the world smallest violin ready.
 

bintananth

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I will have the world smallest violin ready.
The Chinese will just redenominate the worthless Yuan and call it someting else while rendering the Yuan not even worth the paper it's printed on.

The Anglo-Saxon pound, and many of the curriencies derived from it like the US dollar and British pound sterling, have never been declared worthless.
 

UberIguana

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The title is clickbaity. He talks about recession, rather than outright collapse.

Synopsis:
  • Exports for August are half of what was anticipated and didn't hit last year's peak.
  • Recent imports are also down, indicating reduced purchase of raw materials used in manufacturing. Future exports are also likely to be down.
  • Balance of trade in August has dipped significantly.
  • USD-Yuan is dropping, which a lot of contracts are pegged to, so China is getting less $USD.
  • GDP shrank last quarter. This quarter ends with September, but also looks likely to shrink, meaning official recession.
  • Government debt is 67% of GDP and climbing. Given possible local government shadow debt this might be north of 100%.
  • Caixin Manufacturing index has been down for 5 of the last 8 months, sometimes significantly so.
  • Covid lockdowns shutting down entire cities. Right now there are as many Chinese under some form of lockdown as there are people in the USA.
 

DarthOne

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The title is clickbaity. He talks about recession, rather than outright collapse.

Synopsis:
  • Exports for August are half of what was anticipated and didn't hit last year's peak.
  • Recent imports are also down, indicating reduced purchase of raw materials used in manufacturing. Future exports are also likely to be down.
  • Balance of trade in August has dipped significantly.
  • USD-Yuan is dropping, which a lot of contracts are pegged to, so China is getting less $USD.
  • GDP shrank last quarter. This quarter ends with September, but also looks likely to shrink, meaning official recession.
  • Government debt is 67% of GDP and climbing. Given possible local government shadow debt this might be north of 100%.
  • Caixin Manufacturing index has been down for 5 of the last 8 months, sometimes significantly so.
  • Covid lockdowns shutting down entire cities. Right now there are as many Chinese under some form of lockdown as there are people in the USA.
Thanks for the summary.
 

UberIguana

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China's property market might have become the largest Ponzi scheme in history.

Synopsis:
  • When the rules for property ownership were relaxed in the 80s and 90s there was a huge surge of property developers springing up. Due to the popularity of owning property they have been able to ask for 100% cash up front, before the build is even completed. This also means there's nothing worth foreclosing on if mortgage payments aren't made.
  • Due to this, the developers have a lot of cash on hand. Technically this should have either been held in escrow, or used to fund each stage of work, but it looks like it wasn't. Instead it was used to apply for loans to get more cash with which they started more builds.
  • Due to the fact it was easier to keep this chain of loans and prepayments going, the developers obligations outstripped their ability to actually build stuff. Instead they kept starting new builds, getting the cash from selling them and then not finishing ad nauseam.
  • Th CCP finally cracked down on this, forcing them to actually finish the job while restricting their access to debt. This is a problem as many of them have already spent the money meant for completing works on starting new builds.
  • This means a lot of people essentially have their savings in limbo, nowhere to live, and a mortgage to pay until this gets sorted out, one way or another. The government has made funding available to help, though where the money is coming from is its own question not touched on in this video. Given China and official numbers it might just have been invented on the spot.

Oh, and you still only 'own' the property for 80 years, despite all this. If you want to keep it after that, you have to buy it off the government again.
 

DarthOne

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U.S. Department of Defense says China is exploiting federal programs to steal tech


'Just like that, American-made ingenuity is shipped overseas to our leading global adversary … and we, the American taxpayers, are funding it! This isn’t just another case of intellectual property theft.'

A damning report from the U.S. Department of Defense has found that China is exploiting federal programs to steal technology, with the report stating that “China, not the U.S., is the ultimate beneficiary of DoD and other [U. S. Government] research investments.”

Republican Sen. Joni Ernst, who reviewed the report, said on Wednesday that American companies funded by taxpayer dollars from the Department of Defense and other agencies to develop technology “are recruited by China to continue their work at institutions associated with People’s Liberation Army. The U.S. company is then dissolved and the research and intellectual property paid for U.S. tax dollars is transferred to a subsidiary in China.”

“Just like that, American-made ingenuity is shipped overseas to our leading global adversary … and we, the American taxpayers, are funding it! This isn’t just another case of intellectual property theft. This ongoing scheme has national and economic security implications according to the Pentagon,” Ernst said, who sits on the Senate committees on armed services and small business, in a statement to the Daily Wire.

One case found that four grants sent to an American company for space and drone technology were recruited by the Chinese government and dissolved their American company. The company now works for institutions tied to the Chinese power’s defense agency, Ernst said.

Thanks to “double-crossing companies,” millions of taxpayer dollars have been given to China, Ernst added.

According to Ernst, the report said that those receiving the grants were exploiting the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Ernst introduced a bill to modify the programs that passed the Senate unanimously and is expected to be taken up by the House this week.

The Daily Wire reported:

The bill ties a reauthorization of finding for the two programs to a requirement that agencies involved conduct a risk assessment of grant applicants to detect ties to China, North Korea, Russia, Iran, “or any other country determined to be a country of concern by the Secretary of State.” It also requires funding applicants to disclose “individuals of the small business concern who are a party to any foreign talent recruitment program of any foreign country of concern, including the People’s Republic of China.”


You mean they're still doing that thing they've done for years now? Who would have thought!
 

DarthOne

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China is opening police stations in Canada and apparently Canada is just letting them do it


Even for Canada, this is pretty Canadian:


In a world dominated by #China you will all be subject to Chinese rule. The fist step is to establish “police stations” to “assist” Chinese tourists.



The People's Republic of China has opened at least three police stations on Canadian soil as part of an alleged attempt by the country's security state to keep an eye on the Chinese-Canadian diaspora.

Three addresses in Toronto are known to be registered as "service stations" operated by the Fuzhou Public Security Bureau, a police force active in the Chinese metropolis of Fuzhou. ...
Safeguard Defenders holds that the stations function mainly as outposts for the Chinese policy of "Involuntary Return" – a program of compelling Chinese nationals to return home whenever the country's security service deems that they've violated Chinese law. "These operations eschew official bilateral police and judicial cooperation," they wrote.
Uh huh. "Service stations." Sounds like communist doublespeak to me. You know where communism comes from, don't you?


Canadians, of course, are polite to a fault, which means they're apparently just gonna let this happen.

So when the Chinese Communist Party finally takes over the Western Hemisphere, you know what we can do:

Blame Canada!
 

DarthOne

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I'd say Canada may not be here for much longer. I could be wrong.
And if Canada goes, I bet the USA will have its fair share of trouble as well. Never mind if the Deep State doesn’t send in troops to Canada to ‘restore stability’.
 

Zachowon

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And if Canada goes, I bet the USA will have its fair share of trouble as well. Never mind if the Deep State doesn’t send in troops to Canada to ‘restore stability’.
Are you insane?
Sending troops into Canada would be worse optics then Russia invading Ukraine
 

Wargamer08

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Are you insane?
Sending troops into Canada would be worse optics then Russia invading Ukraine
With the way Canada is filling up with Chinese nationals and apperently Chinese government agents, don't discount a future where a Chinese "Canadian" plurality elects a pro-China, anti-US government. At that point the US disputing the election and the Ukraine style follow on events would certainly be plausible.
 

Knowledgeispower

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With the way Canada is filling up with Chinese nationals and apperently Chinese government agents, don't discount a future where a Chinese "Canadian" plurality elects a pro-China, anti-US government. At that point the US disputing the election and the Ukraine style follow on events would certainly be plausible.
the difference of course is the unlike Ukraine the geography makes anyone supplying canada impossible and moreover also makes the place indefensible
 
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