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CHINA

Oct 03 07:40

Record-Smashing Total Of 38 PLA Jets Breach Taiwan Airspace On China's National Day

In what's without doubt the largest group of Chinese aircraft to fly near Taiwan in a long while, the PLA military mounted a huge show of force aimed at the democratic island and its Western backers on China's National Day - which commemorates the formal proclamation of the establishment of the communist People's Republic of China on October 1, 1949.

Taiwan's defense ministry said 25 total jets breached its air defense identification zone Friday (ADIZ), causing the self-ruled island to once again scramble air patrols and track the aircraft with anti-air missile defenses which were put on high alert. Later into the evening, 13 more were recorded breaching the ADIZ in a separate breach, totaling a record-smashing 38 Chinese aircraft.

Oct 03 07:30

Imperialist Tensions: AUKUS Makes Workers Pay for War with China

We are witnessing an aggressive build-up by the US and its allies for a confrontation with China. The Biden administration is making massive upgrades to the US’s military capacity, and sharply reorienting it to focus on China. At the same time, the US is waging a propaganda war against China and attempting to rally its allies, including the so-called Quad countries of India, Japan and Australia, to form an anti-China bloc. The Australian government has made it crystal clear over recent years that it is very much on board with this US project.

Oct 03 07:09

Chinese Supply Chain Issue Might Cancel Holiday Season

Electricity customers across China were ordered to spend periods of the last few weeks in the dark as utilities cut out the lights to handle vital power shortages.

The fallouts are starting to estimate additional barriers to a global economic recovery, with the interruptions to the world's second-largest economy required to boost prices and aggregate current supply chain issues.

Oct 02 05:57

Ingraham: This is 'moronic in the short and long term'

Oct 02 05:56

GOP Rep Tells Milley Point Blank He Should Resign Over Calls To China At End Of Trump Administration

Oct 01 10:13

Scientists have new moon rocks for the first time in nearly 50 years

The first delivery of lunar rocks and soil since the Cold War is already showing traces of intense surface conditions in the moon’s ancient past.

The Chinese National Space Administration’s Chang’e 5 lander touched down on the moon on Dec. 1, 2020. A little more than two weeks later, it brought back samples of lunar rock and regolith which it had drilled and scooped from the landing site in the Oceanus Procellarum region—a massive dark swath a few thousand kilometers wide, visible on the nearside of the moon. Within this lowland area, the landing site is one of the geologically younger regions of the moon, and the samples are the youngest ever to be returned to Earth for analysis.

Oct 01 08:29

Consequences of America outsourcing its manufacturing base to China manifest as Beijing cuts off electricity to production factories

What would happen if the country where most of America’s manufacturing base was outsourced back in the days of Ronald Reagan and Bill Clinton were to shut off the industrial power supply? The world is about to find out.

China, reports indicate, has slashed the electricity supply to 16 of its 31 provincial jurisdictions in recent days. Many of these jurisdictions are factory-heavy, meaning everything that has a “Made in China” label slapped on it is now at risk of seeing shortages.

Beijing has suddenly decided that the energy it has been using for decades to power all of the world’s outsourced manufacturing is “unclean” and must be limited. This has created waves of rolling blackouts that are interfering with production at a time when the supply chain is already suffering due to Wuhan coronavirus (Covid-19) restrictions.

Sep 30 10:44

UK Wants China Out Of Nuclear Power Project

The UK is ousting China's CGN from the Sizewell C nuclear power plant project, the Financial Times reported, adding that the options for the 20-percent stake that the Chinese company holds in the project will be sold to institutional investors or floated on the stock market.

Reports of the UK government's intention to remove the Chinese state-owned company from the nuclear power project first emerged in July, also by the Financial Times, which at the time wrote that the plan was to cut off CGN from all nuclear power projects in the UK amid a cooling off between the two countries that also saw the UK force China's Huawei out of its 5G network.

The growing animosity of the UK towards China came amid China's quashing of dissenters in Hong Kong, allegations of repressions against Muslim minorities such as the Uyghurs, and a growing concern—not only in the UK—that reliance on Chinese technology threatens the security of other countries' supply chains and critical infrastructure.

Sep 30 10:15

Evergrande: Chinese property giant 'misses another payment deadline'

The hugely indebted Chinese property giant Evergrande has missed interest payments to overseas investors for the second time in a week, reports say.

Evergrande was due to pay foreign bond holders $47.5m (£35m) by Wednesday.

But bondholders told Reuters news agency and Bloomberg that they were yet to receive any payment.

Evergrande has not commented publicly on the issue. Once China's top-selling developer, the company is now facing debts of more than $300bn.

It has been prioritising its liabilities within China, amid concerns of social unrest.

Last week, Evergrande missed an $83.5m interest payment on an overseas bond, but struck an agreement with domestic investors over a $35.9m payment which was also due.

Sep 30 07:11

Watch: General Miley Finally Has An Answer For Resignation Push

General Mark Milley, the top U.S. military officer, on Tuesday harshly backed calls with his Chinese counterpart that have put Republican demands for his leave, saying he had been trying to reduce tension with Beijing and not to "usurp authority."

"At no time was I attempting to change or influence the process, usurp authority, or insert myself into the chain of command," Milley told the Senate Armed Services Committee.

"I know, I am certain, that President [Donald] Trump did not intend on attacking the Chinese," Milley said.

Sep 30 07:08

China Gold Buying Surges on Evergrande Crisis

Sep 30 06:47

MLB Ships Jobs to China To Build Closer Relationship With CCP

Major League Baseball is expanding its partnership with the Chinese Communist Party, coming at the expense of U.S. jobs and growing Chinese influence over America's pastime.

The country's leading propaganda outlet China Daily on Aug. 20 touted the MLB’s attempts to build a "baseball ecosystem" within the country. The league has grown its network to more than 100 Chinese baseball teams in 20 cities, with a growing fanbase of millions. The league's operations in cahoots with Beijing are not just limited to play—quality U.S. jobs are also at stake. Miken Sports, a baseball equipment brand that provides business to the league, folded a Minnesota production plant and moved its nearly 70 jobs to China.

Sep 30 06:27

Hello, China? This is the Pentagon Calling…

Chinese hardliners just had their stance justified by the erratic, verging on unhinged, behavior in the United States and by its military.

Sep 30 06:14

‘3 Warfares’ Doctrine Underpins CCP’s Sprawling Campaign to Infiltrate the West: Report

Psychological warfare. Public opinion warfare. Legal warfare.

Known as the “three warfares” doctrine and relatively unknown in the West, these concepts serve as key strategies guiding the Chinese Communist Party (CCP) in its quest to win a war against the free world without firing a single shot.

Psychological warfare seeks to demoralize the enemy; public opinion warfare seeks to shape the hearts and minds of the masses; legal warfare seeks to use systems of law to deter enemy attacks.

This explanation was set out in a recently released 650-page report that provides a comprehensive illustration of the Chinese communist regime’s global influence operations. The French-language report was published by the Institute for Strategic Studies of Military Schools (IRSEM), an independent agency affiliated with the French Ministry of Armed Forces.

Sep 29 11:00

China Is Blocking Its Airlines From Buying "Tens Of Billions Of Dollars" In U.S. Made Boeing Airplanes

In what should serve as a wakeup call for the Biden administration about the climate of trade between the U.S. and China (but won't), China is reportedly blocking its domestic airlines from doing business with Boeing.

U.S. Commerce Secretary Gina Raimondo made the revelation on Tuesday, according to Reuters, stating that Chinese airlines were being prevented from buying "tens of billions of dollars" in U.S. made airplanes.

Webmaster's Commentary: 

Little bit of payback for sinking that Australian submarine deal!

Sep 29 08:49

Taiwan's Defense Minister Demands Long-Range Missiles For The Island To Repel China

Just on the heels of Taiwan recently unveiling a proposed defense budget of almost $9 billion over the next five years, its defense ministry is provocatively calling for more long-range missiles in order to deter potential future aggression from China.

"The development of equipment must be long-range, precise, and mobile, so that the enemy can sense that we are prepared as soon as they dispatch their troops," Defense Minister Chiu Kuo-cheng told parliament in Taipei on Monday.

This after Taiwan officials, including President Tsai Ing-wen, have said rapid modernization of the island's defense arsenal is necessary given the "severe" threat from China, which means Taiwan must have the capability to be turned into a "fortress" and "porcupine" in event of attack.

It's unclear what DM Chiu Kuo-cheng is envisioning in terms of the reach of proposed long-range missiles, but it's sure to be seen as a "red line" for Beijing. According to Reuters:

Sep 29 08:48

Psaki On Defense Again After Reporters Grill Her On Biden's China Moves

White House Press Secretary Jen Psaki was out on the defensive repeatedly Monday over the Biden administration’s engagement in a prisoner swap between China and Canada over the weekend — with some reporters urging her on Senate Republicans’ scrutiny of the publication of Huawei’s finance chief.

During the White House’s daily press briefing, Psaki was specifically asked how the prisoner swap could drive China to catch foreign nationals in the future, as some have charged the Biden administration with satisfying China.

Psaki began by saying the prisoner swap was independent under the Department of Justice, calling it a “law enforcement” and “legal” matter that would be “inappropriate” for her to comment on further. “I would note though, because I think there was a lot wrapped up in their criticism there, that our policy has not changed toward China. We’re not seeking conflict,” she said.

Sep 29 07:58

LIGHTS OUT CHINA

Sep 28 11:00

Here's What 'No-Coiners' Don't Get: It's Not Up To The Government

My last couple of posts, the first on why a China-style Bitcoin ban can’t happen in Westernized liberal democracies and the second on how cryptos are a beneficial counterforce to the coming CBDCs seem to have a hit a nerve.

More people than usual made the trip all the way over here to my blog to be sure to tell me how clueless I am and there was a lot of defeatism in the comments on Zerohedge that all converged around a theme that governments will simply not permit the use of cryptocurrencies once their existence ceases to suit them.

I’ve been involved in cryptos since 2013, and for a long time I too was strategizing out the game theory around why would governments permit cryptos to gain traction.

Sep 28 10:52

China Issues Rare, Strongly-Worded Defense Of Russia Over US "Bullying" Sanctions

It's been no secret that over the past half-decade China and Russia have grown closer, even becoming unlikely allies (unlikely given historic 20th century antagonism), in the face of Washington pressure and sanctions on officials in both countries.

This growing cooperation on military, economic and infrastructure development fronts has now reached the next unprecedented step of Beijing publicly defending Russia, vociferously condemning the next round of proposed US sanctions on Moscow officials.

China's Foreign Ministry on Monday stated it "strongly opposes" new sanctions on top Russian officials, saying US Congressional leaders are using human rights as a "pretext" for ensuring attempts at improving US-Russia relations fail. "The US hegemonic and bullying practices are rejected by Russia and China and will meet rejection and opposition from more and more countries," the Monday statement said.

Sep 28 10:51

Container Ships Now Piling Up At Anchorages Off China's Ports

There are over 60 container ships full of import cargo stuck offshore of Los Angeles and Long Beach, but there are more than double that — 154 as of Friday — waiting to load export cargo off Shanghai and Ningbo in China, according to eeSea, a company that analyzes carrier schedules.

The number of container ships anchored off Shanghai and Ningbo has surged over recent weeks. There are now 242 container ships waiting for berths countrywide. Whether it’s due to heavy export volumes, Typhoon Chanthu or COVID, rising congestion in China is yet another wild card for the trans-Pacific trade.

Sep 28 10:40

Biden Mulls Global Infrastructure Projects to Counter China’s

The Biden administration is considering launching a global infrastructure project to counter China’s Belt and Road Initiative.

US officials told Bloomberg that the administration is sending an official to Latin America to scout possible projects. Daleep Singh, the deputy national security advisor for economics, is traveling to Panama, Colombia, and Ecuador to meet with high-level officials and business leaders to discuss infrastructure needs.

Washington views the Belt and Road Initiative as a threat to US influence around the world, and President Biden has floated the idea to other world leaders of creating a rival to the project. Biden suggested to British Prime Minister Boris Johnson back in March that there should be a similar initiative to the Belt and Road coming out of “democratic states.”

Sep 28 06:11

China Prepares Its Citizens for War

Sep 28 05:48

China Slams UK for Harbouring ‘Evil Intentions’ After British Warship Sails Through Taiwan Strait

Earlier on Monday, the official Twitter account of warship HMS Richmond posted a picture of the vessel navigating the contentious Taiwan Strait after “a busy period working with partners and allies in the East China Sea."

China slammed Britain for its “evil intentions” after a Royal Navy frigate sailed through the Taiwan Strait on Monday.

Sep 28 05:28

Lawmakers Demand DOJ Explain Dropping of Cases Against Chinese Researchers Accused of Hiding Military Ties

Rep. Jim Jordan (R-Ohio), the ranking member of the House Judiciary Committee, has asked Attorney General Merrick Garland to explain why prosecutors have dropped a series of cases connected with the Justice Department’s (DOJ) clampdown on Chinese espionage.

In July, federal prosecutors filed motions to dismiss charges against six Chinese researchers who had been accused of hiding their ties to Chinese institutions or the Chinese military. The DOJ said at the time that “recent developments” in those cases had prompted the department to “re-evaluate these prosecutions,” stating that the dismissals were made “in the interest of justice.”

Sep 27 12:18

Is China Evergrande Really Fine?

Sep 27 09:11

Open for Military Business: Ebola Research at Canada’s Only BSL-4 Lab

On July 5 2019, Xiangguo Qiu and her husband Keding Cheng were removed by Canadian police from the Canadian National Microbiology Lab (NML) in Winnipeg, Manitoba. Their security clearances were also retracted, allegedly over “administrative issues.” Qiu is an expert in Ebola and was in charge of the NML’s pathogen and vaccine division. Cheng is an expert in proteomics. The NML is Canada’s only Biosafety Level 4 (BSL-4) laboratory for the study of pathogens highly hazardous to humans. Starting in 2017, Qiu went at least five times to the Wuhan Institute of Virology. Over a five year period she also published papers with the leading members of China’s civilian/military virology establishment who may have had access to the Winnipeg lab. A few months before their suspension, Qiu organized the shipment, which was authorized, of many strains of Ebola and Henipah viruses to the Wuhan Institute of Virology. In January, 2021, the couple were finally fired.

Sep 27 09:08

China's Illicit Squid Fishery Has Deadly Impact on North Korea

The battered wooden “ghost boats” drift through the Sea of Japan for months, their only cargo the corpses of starved North Korean fishermen whose bodies have been reduced to skeletons. In 2019, more than 150 of these macabre vessels washed ashore in Japan, and there have been more than 500 in the past five years.

For years the grisly phenomenon mystified Japanese police, whose best guess was that climate change pushed the squid population further from North Korea, driving the country’s desperate fishermen dangerous distances from shore, where they become stranded and die from exposure.

Sep 27 07:00

What's Really Going On in China

Sep 27 06:54

Morgan Stanley: We Are Approaching An Inflection Point In China Policy Easing

The past two months have seen successive waves of headlines from China, first on the broad regulatory reset and then this week’s focus on property developers facing near-term funding pressures. The policy goals of these measures are first to ensure social stability and second to make economic growth more sustainable by reducing income inequality and addressing imbalances and excesses. However, they have raised concerns about a potential rise in systemic risks and a sharper slowdown in growth.

Investors’ focus has shifted from tech to the property sector, which faces challenges on two fronts. First, property developers are required to adhere to the “three red lines” – maintaining healthy liabilities-to-assets, net gearing and cash-to-short-term debt ratios – which were announced in August 2020.

Sep 27 06:52

Power Supply Shock Looms: "Global Markets Will Feel The Pinch Very Soon" Of China's Next Crisis

Distracted by the 'grandness' of the collapse of China's property development market, many have missed the fact that China faces a crisis that could directly hit Asia's economy just as hard as a financial collapse - a nationwide power supply shock.

After ramping up its coal-based power production earlier in the year, it appears Beijing has suddenly grown a conscience over its emissions and the 'average joe' could be about to feel the pain of that decision.

As Bloomberg reports, the crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as strict targets from Beijing to cut emissions.

It’s coming first to the country’s mammoth manufacturing industries: from aluminum smelters to textiles producers and soybean processing plants, factories are being ordered to curb activity or - in some instances - shut altogether.

Sep 27 06:28

De-Listed Anti-China Terror Group “Rises from the Dead”

Suspicions were raised when in late 2020 the US de-listed as a terrorist organization the East Turkestan Islamic Movement (ETIM), sometimes referred to as the Turkestan Islamic Party (TIP).

This was because the US had claimed as its rationale that the ETIM/TIP had not been active for over a decade despite the US itself admitting to striking ETIM/TIP targets in Afghanistan as recently as 2018, just 2 years before the de-listing.

A 2020 Guardian article titled, “US removes shadowy group from terror list blamed by China for attacks,” for example, would note:

In a notice in the Federal Register, which publishes new US laws and rules, the secretary of state, Mike Pompeo, said on Friday he was revoking the designation of the East Turkestan Islamic Movement (ETIM) as a “terrorist organization.”

“ETIM was removed from the list because, for more than a decade, there has been no credible evidence that ETIM continues to exist,” a state department spokesperson said.

Sep 27 05:31

The AUKUS preparing a nuclear war to sustain Taiwan

The announcement of the Australian-British-US (A-UK-US) pact [1] was like an earthquake in the Indo-Pacific region.

There is no doubt that Washington is preparing for a long-term military confrontation with China.

Until now, the Western deployment to contain China politically and militarily has involved the United States and the United Kingdom as well as France and Germany. Today, the Europeans are left out. And tomorrow the area will be controlled by the Quad+ (US and UK, plus Australia, India and Japan). Washington is preparing a war in one or two decades.

While France and Germany have not been consulted on this strategy, nor even warned of its public announcement (but other countries had been warned, such as Indonesia), the new device should be staged next week in Washington.

Sep 26 06:36

The Strange China Feud of Soros and BlackRock

A bizarre war of words has erupted in recent days in the pages of financial media between billionaire hedge fund and color revolution specialist, George Soros, and the gigantic BlackRock investment group. The issue is a decision by BlackRock CEO Larry Fink to open the first foreign-owned mutual fund in China presumably to attract the savings of China’s new (and fast disappearing) middle income population. In a recent newspaper interview Soros called the BlackRock decision a threat to BlackRock investors and to US national security.

This seemingly absurd clash of views between two financial predator giants of Wall Street hides a far larger story—the looming systemic collapse inside China of a financial debt pyramid that is possibly the largest in the world. It could have a domino effect on the entire world economy far greater than the September 2008 Lehman Crisis.

Sep 25 05:53

Biden Administration Doles Out $250K to Wuhan Lab-Linked Group

The Biden administration awarded more than $250,000 to an organization whose founder waged a secret campaign last year to undercut the theory that the coronavirus originated in a Chinese lab.

The Defense Threat Reduction Agency granted $253,279 to EcoHealth Alliance in July to conduct research to thwart the use of viruses as weapons of mass destruction. EcoHealth Alliance worked closely with the Wuhan Institute of Virology, the lab that many U.S. officials believe was ground zero for the coronavirus outbreak. The group's founder, Peter Daszak, secretly organized a group of scientists early in the pandemic to publicly undermine the theory that the pandemic sprung from a leak at the Wuhan lab.

Sep 25 05:37

Bitcoin crashes after China rules all crypto-related transactions illegal

The People’s Bank of China revived its tough stance on digital currencies on Friday, ruling all crypto-related trading activities illegal and banning overseas crypto exchanges from providing services to mainland investors.

The regulator announced plans to bar financial institutions, payment companies and internet firms from facilitating cryptocurrency trading, as well as to strengthen monitoring of risks from such activities.

“Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity,” the PBOC said in a Q&A posted to its website.

Sep 24 09:05

‘Eerie silence’ as Evergrande misses payment deadline

The embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest payment deadline.

The company, which has total debts of about $305bn (£222bn), has run short of cash, and investors are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world.

A Thursday deadline for paying $83.5m in bond interest passed without remark from Evergrande, and bondholders had not been paid nor heard from the company, two people familiar with the situation told Reuters.

The firm is in uncharted waters and enters a 30-day grace period. It will default if that passes without payment.

“These are periods of eerie silence as no one wants to take massive risks at this stage,” said Howe Chung Wan, the head of Asia fixed income at Principal Global Investors in Singapore.

Sep 24 09:01

Taiwan On High Alert After 24 Chinese Jets Breach Defense Zone In Two Incidents

Taiwan has once again scrambled jets after a large group of Chinese military aircraft breached its air defense zone on two separate occasions on Thursday. The breaches which have of late been coming almost daily, which Taipei sees as unmistakable as acts of aggression and as "warnings" against its pro-democracy relationship with the US, follow recent Chinese state media threats that the PLA military could soon fly jets and bombers directly over the island.

Thursday's fresh incidents involved 19 Chinese aircraft, including 12 J-16 fighters and two nuclear-capable H-6 bombers, according to Taiwan's defense ministry. Specifically the morning breach occurred in the same zone as many others of late - the southwest part of Taiwan’s ADIZ. Later in the afternoon the defense ministry cited another incursion involving five more PLA jets, which totals an unusually large 24 Chinese aircraft for the day.

Sep 24 08:54

US Air Force Official: China Might ‘Strike From Space’

As Air Force Secretary Frank Kendall has said before, his priorities are “China, China, and China.” His keynote address at the Air Force Association Air, Space & Cyber Conference continued that trend, talking up the possibility of space warfare against China.

Kendall warned China has the potential to “actually put weapons in space,” and likening the situation to the Cold War. He further warned China might be able to make attacks effectively undetectable for early warning systems.

This is almost a perfect, tailor-made talking point for the US military, as it facilitates potentially endless spending on space warfare simply to counter what China might do. This was the whole justification for the US Space Force, and its appetite for wildly expensive weapons systems of dubious use, in the first place.

Sep 24 05:14

An Urgent Update on China’s Black Swan

Sep 24 03:31

Will a Renewed ‘Operation Cyclone’ Threaten Afghanistan’s New Silk Road Future?

The Chinese and their growing array of partners have come to the fundamental insight that the only way to destroy terrorism is not by bombing nations to smithereens, but rather by providing the means of improving the lives of people.

With the recent pledge by China, Russia, Iran and Pakistan for renewed defense of Afghanistan’s sovereignty and right to develop, many have jumped the gun to celebrate a little prematurely.

While watching a hegemonic wanna-be global overlord choke on humble pie is certainly satisfying, and while Afghanistan unquestionably has a renewed hope to recapture its ancient role as a pearl on the Silk Road uniting all cultures of the globe, something darker is also afoot. A process reminiscent of the events of 1979 when Zbigniew Brzezinski, then leading a trilateral Commission takeover of the USA using a dim-witted puppet president, managed to launch a program known as “Operation Cyclone”.

Sep 24 03:24

IEA Demands Russia Deliver More Gas To A Reeling Europe

Over the weekend, Morgan Stanley's global energy head Martijn Rats shared comprehensive yet streamlined analysis of what happened in 2021 that has sent many commodity prices, including Europe's nat gas and electricity prices, surging to never before seen levels.

For those who missed it, Rats explained that A common set of factors has tied all these commodity rallies together. As often happens, the story starts in China.

Webmaster's Commentary: 

Demands?!? It's Russia's gas. They get to do with it whatever they want!

Sep 23 07:22

Eurasia Takes Shape: How the SCO Just Flipped the World Order

The two defining moments of the historic 20th anniversary Shanghai Cooperation Organization (SCO) summit in Dushanbe, Tajikistan had to come from the keynote speeches of – who else – the leaders of the Russia-China strategic partnership.

Xi Jinping: “Today we will launch procedures to admit Iran as a full member of the SCO.”

Vladimir Putin: “I would like to highlight the Memorandum of Understanding that was signed today between the SCO Secretariat and the Eurasian Economic Commission. It is clearly designed to further Russia’s idea of establishing a Greater Eurasia Partnership covering the SCO, the EAEU (Eurasian Economic Union), ASEAN (Association of Southeast Asian Nations) and China’s Belt and Road initiative (BRI).”

In short, over the weekend, Iran was enshrined in its rightful, prime Eurasian role, and all Eurasian integration paths converged toward a new global geopolitical – and geoeconomic – paradigm, with a sonic boom bound to echo for the rest of the century.

Sep 23 06:06

Joe Biden nuclear sorcerer’s apprentice

resident Biden announced the birth of the AUKUS, a strategic-military partnership between the United States, Great Britain and Australia, with “the imperative of ensuring long-term peace and stability in the Indo-Pacific", the region that in Washington’s geopolitics extends from the west coast of the United States to that of India. The purpose of this "strategic mission" is "to take on the threats of the 21st century just as we did in the 20th century: together ". Clear reference to China and Russia.

To "defend against rapidly evolving threats," the AUKUS launches a "key project": the United States and Britain will help Australia acquire "nuclear-powered, conventionally armed submarines."

Sep 23 05:55

Overthrow Xi? Hostility towards China is on the rise, but Aussies’ extraordinary demand for a coup is a step too far

A highly provocative article in Australia’s Murdoch-owned press has called on the Quad to support a coup in the Chinese Communist Party and end Xi Jinping’s reign. Are the Aussies getting tough, or is this personal for Rupert?

Anyone who has ever worked for the Murdoch press, like me, knows one thing: nothing big goes to print without the boss’s final okay, particularly where the political or business interests of his global media empire are concerned.

So it cannot be too far wide of the mark to suggest that an article published in The Australian newspaper, Murdoch’s national title Down Under, which called for a coup in China’s Communist Party and the ousting of leader Xi Jinping, was published with a nod of assent from the billionaire nonagenarian.

Sep 23 05:51

The AUKUS preparing a nuclear war to sustain Taiwan

The official reactions to the announcement of the Australian-British-US pact (AUKUS) are only about the termination of the Australian-French arms contract. As terrible as this is for the shipyards, it is only a collateral consequence of a reversal of alliances aimed at preparing for a war against China.

Sep 22 09:24

BREAKING: China Evergrande said to be in talks with firms including NIO, XPeng to sell EV unit

Chinese property developer Evergrande Group is currently in talks with several companies, including NIO, XPeng Motors and Xiaomi, to sell its electric vehicle business, chinastarmarket.cn reported Thursday.

As of now, the results of the talks have not been finalized. However, Xiaomi will still choose to build its own car, and the address will be officially disclosed next week at the earliest, the report said.

NIO, XPeng and Xiaomi have not yet responded to the information, the report said.

Sep 22 08:06

Wuhan scientists planned to release coronavirus particles into cave bats, leaked papers reveal

Wuhan scientists were planning to release enhanced airborne coronavirus particles into Chinese bat populations to inoculate them against diseases that could jump to humans, leaked grant proposals dating from 2018 show.

New documents show that just 18 months before the first Covid-19 cases appeared, researchers had submitted plans to release skin-penetrating nanoparticles containing “novel chimeric spike proteins” of bat coronaviruses into cave bats in Yunnan, China.

They also planned to create chimeric viruses, genetically enhanced to infect humans more easily, and requested $14million from the Defense Advanced Research Projects Agency (Darpa) to fund the work.

Papers, confirmed as genuine by a former member of the Trump administration, show they were hoping to introduce “human-specific cleavage sites” to bat coronaviruses which would make it easier for the virus to enter human cells.

Sep 22 07:37

Milley's Calls To Chinese General Could Have Jeopardized US National Security: Former Military Officials

Chairman of the Joint Chiefs of Staff, Gen. Mark Milley, could have jeopardized the national security of the United States in allegedly secret calls to Gen. Li Zuocheng of China’s People’s Liberation Army (PLA), according to former U.S. military officers. Milley also overstepped his own authority while allegedly discussing the launch of nuclear weapons with senior military officials, they say.

Endangering National Security

According to a new book titled, “Peril,” Milley called Li once in October 2020 and another time on Jan. 8 to assure him that the United States wouldn’t attack the Chinese Communist Party, and if it was poised to attack, he would alert his counterpart.

“General Li, you and I have known each other for now five years. If we’re going to attack, I’m going to call you ahead of time. It’s not going to be a surprise,” Milley reportedly said.

Sep 22 07:34

Wuhan Scientists Planned To Release 'Chimeric Covid Spike Proteins' Into Bat Populations Using 'Skin-Penetrating Nanoparticles'

18 months before the pandemic, scientists in Wuhan, China submitted a proposal to release enhanced airborne coronaviruses into the wild in an effort to inoculate them against diseases that could have otherwise jumped to humans, according to The Telegraph, citing leaked grant proposals from 2018.

New documents show that just 18 months before the first Covid-19 cases appeared, researchers had submitted plans to release skin-penetrating nanoparticles containing “novel chimeric spike proteins” of bat coronaviruses into cave bats in Yunnan, China.

They also planned to create chimeric viruses, genetically enhanced to infect humans more easily, and requested $14million from the Defense Advanced Research Projects Agency (Darpa) to fund the work.

Sep 22 07:33

China Syndrome? Is Evergrande A Symptom Of Deeper Malaise

Evergrande’s imminent default is rocking markets – but few believe the collapse of a Chinese property developer could trigger a global financial crisis. What if Evergrande is just a symptom of a deeper malaise within the Chinese economy and its political/business structures? Maybe there is more at stake than we realise? What if Emperor Xi decides he needs a distraction?

Amid this week's market turbulence, and the overnight headlines, Evergrande dominates thinking this morning. The early headlines say the risk is “easing”. Don’t be fooled. S&P are on the wires saying it’s on the brink of default and is unlikely to get govt support. It’s Asia’s largest junk-bond issuer. Anyone for the last few choc-ices then?

Sep 22 07:32

Offshore Creditors Remain In Limbo As Evergrande Agrees To Pay Thursday's Interest On Local Bonds Only

Update (1015ET): US futures are giving back their kneejerk gains as the penny starts to drop that this is not the euphoric 'all clear' after all.

As we detailed below - and traders are starting to realize - Beijing may have just found a brilliant solution to the Evergrande problem, effectively rescuing the company and averting a systemic crisis all at the same time:

it will pay local bondholders and soft nationalize/bailout Evergrande,

but will avoid allegations of backsliding on tightening/deleveraging promises and improving "common prosperity" by stuffing foreign creditors.

And that is not what the market wants to hear...

Chinese stocks are fading back too (after reopening from the holiday)...

The question is - will Beijing use this as a strawman to judge the impact of such a restructuring strategy? And what will be the impact on the foreign dollar bond market after this?

Sep 22 06:27

Trump Bluntly Addresses Cause Of Pandemic, Hear His Reasons

Former President Donald Trump announced in a recent interview with Sky News Australia that COVID-19 started at the Wuhan Institute of Virology, and insisted it was released out to the world due to "gross incompetence."

Trump announced, "Some of the intelligence is classified and I can't talk about it, but it most likely, and when I say most likely, like 95%, came from the Wuhan lab. I don't know if they had bad thoughts or whether it was gross incompetence, but one way or the other it came out of Wuhan, it came from the Wuhan lab. I started hearing stories ... that there were lots of body bags outside of the lab. I heard that a long time ago. And if they did in fact have body bags, that was one little indication wasn't it?"

Sep 22 05:39

UN Urging US To Make Its Peace With China

President Biden is entering the United Nations General Assembly on Monday carrying the baggage of many recent foreign policy disasters — including the botched troop departure from Afghanistan and a weapons deal blunder that has seen France withdraw its ambassador from the US — as he is supposed to meet with the UN secretary-general to kick off the summit.

Before the Monday meeting, UN Chief Antonio Guterres told the Associated Press that his focus is on the US and China fixing their relationship, and is keen to discuss bypassing a “cold war” with China.

Webmaster's Commentary: 

"Peace? We can't make any money off of peace!!" -- Official White Horse Souse

Sep 22 05:10

At the UN, Biden Claims the US Is Not Seeking a Cold War With China

Addressing the UN General Assembly in New York on Tuesday, President Biden claimed the US does not seek a “Cold War” with China despite recent steps by Washington to rally allies against Beijing.

“We are not seeking a new Cold War or a world divided into rigid blocs,” Biden said, without mentioning Beijing by name. His remarks came a day after UN Secretary-General Antonio Guterres warned against a new Cold War between the US and China and called on the two powers to fix their “dysfunctional relationship.”

While he claimed the US doesn’t want a Cold War, Biden had previously framed the US-China relationship as an ideological competition between “democracy” and “autocracy.” He has also said the US is in competition with China to “win the 21st century.”

Sep 21 13:40

Are the US and China Stumbling Toward an ‘Islands War’?

In a diplomatic coup, Prime Minister Scott Morrison announced a deal last week with the U.K. and U.S. to have those Anglo-American allies help build a nuclear-powered submarine fleet for Australia.

A $66 billion French deal to provide Canberra with diesel electric-powered submarines, among the largest defense contracts Paris had ever negotiated, was blown off.

"A stab in the back!" said Foreign Minister Jean-Yves Le Drian, who had been kept in the dark on the secret talks. "There has been duplicity, contempt and lies." Le Drian compared President Joe Biden to former President Donald Trump.

President Emmanuel Macron recalled his ambassadors to both the US and Australia. In two centuries of U.S.-French diplomatic relations, no such recall had ever occurred.

What does this Australia First submarine deal mean?

Sep 21 13:09

‘Beyond doubt’ there was an ‘incident’ at the Wuhan Institute of Virology

Sep 21 10:22

WHAT? Obama’s Def Sec Leon Panetta Appears To Admit He Was Involved With Milley’s Secret CCP Calls

Former Obama-Biden administration Defense Secretary and CIA Director Leon Panetta appeared to admit that he was involved with General Mark Milley’s secret calls to the Chinese Communist military behind President Donald Trump’s back.

Leon Panetta, the former Director of the Central Intelligence Agency (CIA) and former Defense Secretary under the Obama-Biden administration appeared to admit that he was involved with General Mark Milley’s secret calls to the CCP military behind the back of President Donald Trump.

Panetta, while confirming that Milley made secret calls, said the first secret call Milley made to the CCP was “pursuant to the approval of [Defense] Secretary [Mark] Esper,” adding that the second secret call to the CCP was made because “President [Trump] was appointing political people to key positions at the Defense Department.”

Sep 21 08:18

How Evergrande Became Too Big To Fail And Why Beijing Will Have To Bail It Out

While the world is obsessing with the fate of Evergrande, and more importantly when, or if, Beijing will bail it out, another just as interesting question is how did the company many call "China's Lehman" get to the point of no return and become a global systematic risk. For a fascinating look into how we got here, we turn our readers' attention to a recent article from Caixin titled "How Evergrande Could Turn Into ‘China’s Lehman Brothers'," and which provides one of the most comprehensive insights into why Beijing will have to, even if it is kicking and screaming, bail out Evergrande which, at its core, is just one giant shadow-banking black box whose time has finally run out.

Sep 21 07:55

Air Force Secretary Says His Priorities are ‘China, China, and China’

On Monday, President Biden’s new Air Force Secretary Frank Kendall made it crystal clear that China is his main focus during a speech at the Air Force Association’s Air, Space and Cyber conference. According to an Air Force press release, Kendall mentioned China 27 times in his remarks compared to a single mention of Russia.

“So what are my intentions now that I have this job? At a breakfast on Capitol Hill shortly after I was sworn in, I was asked by Sen. Jon Tester what my priorities were. My answer was that I had three; China, China, and China,” Kendall said.

Kendall, who assumed office on August 28th, said China is a threat to Washington’s global military dominance. “While America is still the dominant military power on the planet today, we are being more effectively challenged militarily than at any other time in our history,” he said.

Sep 21 07:48

Taiwan: will dark horse pushing cross-strait union upend two-way race for KMT chair?

Days before Taiwan’s main opposition Kuomintang party elects a new leader, a hardline pro-unification candidate has dramatically emerged as the front runner, to seriously threaten what was to have been a two-way race between the incumbent and former chairman on Saturday.

Four candidates are vying for the KMT’s top post and, even until late last month, all eyes were still on the fierce campaign between ex-chairman and New Taipei mayor Eric Chu Li-luan, 60, and incumbent chairman Johnny Chiang, 49, who is also a legislator.

But now, thanks to a September 4 televised debate and a controversial KMT decision to discipline him, NGO chief Chang Ya-chung, who is little known outside Taiwan, has successfully established himself as a tragic hero fighting to steer the century-old party back to its mainland China-centric road.

Sep 21 07:13

China’s Real Estate Sector in Trouble?

Sep 21 06:17

INVESTIGATION: U.S. Has Funded Over 250 Studies for Chinese Communist Military Researchers.

Various National Institutes of Health agencies – including Anthony Fauci’s National Institute of Allergy and Infectious Diseases – have funded over 250 studies authored by researchers at institutions controlled by China’s People’s Liberation Army, The National Pulse can exclusively reveal.

Following a unique investigation into the origins of scientific research papers, the whopping level of collaboration with the Chinese military will further concerns in the United States that the political class has surrendered to the Chinese Communist Party. Last week it emerged that the ranking General in the U.S. Armed Forces agreed to tip off China in advance of a U.S.-led attack.

The unearthed studies, from the National Institutes (NIH) online database, expand upon the People’s Liberation Army’s (PLA) ties to the Wuhan Institute of Virology unearthed by The National Pulse.

U.S. Taxpayers Funding the People’s Liberation Army.

Sep 21 05:53

How do you deal with the Taliban? With West still reeling from militants’ victory in Afghanistan, Russia & China are taking charge

When history speeds up, it plays havoc with our sense of time. It may seem longer, but it has only been around a month since the world was shaken by a geopolitical earthquake, with its epicenter in the Afghan capital of Kabul.

The lasting effects of the Taliban’s rapid re-conquest of Afghanistan, ending with their seizure of the city in the middle of August, are still unfolding. What comes next for the country, and for its place in the world, is still to be decided.

One piece of wishful thinking already debunked by the facts is the idea that, after 20 years of war, the Taliban 2.0 is more liberal and less inclined to brutality than it was when its predecessors ruled Afghanistan between 1996 and 2001. Cunningly, the group has tried to foster this illusion of moderation. Yet the militants’ actions speak louder than words. In reality, they have installed a government that reveals the lie behind their promises of inclusivity.

Sep 21 05:51

Biden’s submarine deal will force China and North Korea closer together & legitimise Pyongyang’s nuclear ambitions

The consequences of America’s military gerrymandering in Asia are likely to be extreme, with China having to lean on North Korea more heavily and Kim Jong-Un sensing an opportunity to accelerate his nuclear strategy.

The intense controversy that has surrounded America’s new submarine deal with Australia and the United Kingdom, which is seemingly designed to target China, has overshadowed the fact that it also has implications elsewhere in East Asia.

Over the weekend, North Korea’s foreign ministry condemned the AUKUS agreement, stating that, “These are extremely undesirable and dangerous acts which will upset the strategic balance in the Asia-Pacific region and trigger off a chain of nuclear arms race.”

Sep 21 05:41

EXCLUSIVE: John Kerry's Heinz ketchup heiress wife has millions of dollars in Chinese investments, leaving Biden's climate change envoy facing an ethical dilemma as he regularly meets with the country's top leaders to cut deals

Joe Biden's climate change envoy and former secretary of state John Kerry disclosed millions of dollars in Chinese investments held by his wife's family trust, government documents show.

Kerry's latest filing with the Office of Government Ethics (OGE) in March shows his wife benefits from an investment of 'at least $1 million' in a hedge fund that specializes in private partnerships and investments with Chinese government-controlled funds.

In his senior government role Kerry regularly meets with Chinese diplomats and leaders, and is in the delicate position of negotiating with the industrial superpower to cut deals on reducing carbon emissions.

Sep 20 11:42

And Another: Shanghai-Based Property Developer Crashes 87% In Minutes Before It Is Halted

It's not just Evergrande that is about to keel over. Overnight, one of its smaller peers, Shanghai-based Sinic Holdings Group which focuses on the development of residential and commercial properties in China, was halted trading after it shares cratered in a freak 87% plunge on Monday afternoon. The plunge slashed the market value to just under $230 million, which is laughable for a listed developer in the city.

There was no reason for the selloff - an officer at the firm’s Hong Kong office said there’s no one to attend to media inquires which is probably not a good sign - which was attributed to the general panic resulting from Evergrande's imminent default, nor did the company give a reason for the trading halt in Hong Kong.

Sep 20 11:41

Futures Slide, Europe Tumbles As Evergrande Contagion Shockwave Goes Global

In retrospect, China, Japan, South Korea and Taiwan picked a great day to take a holiday, which as we noted last night hammered Hong Kong stocks more than 3%, slamming the Hong Kong property sector and sending Evergrande - which is expected to default within hours to a bank loan due Monday while crucial interest payment deadline on its offshore bonds looms on Thursday - to its lowest market cap ever (it closed down 10.2% just off the worst levels of the day) before the rout spread to European bourses and US equity futures as Evergrande's escalating liquidity - and now solvency - crisis spread beyond the sector.

Sep 20 11:40

Goldman Issues A Dire Warning On China's Property Sector

No matter how the Evergrande drama plays out, whether it culminates with an uncontrolled, chaotic default and/or liquidation which sparks a crash in real estate values, or with Beijing blinking and bailing out the core pillar of China's housing market, remember that Evergrande is just a symptom of the trends that have whipsawed China's property market in the past year, which has seen significant contraction as a result of Beijing policies seeking to tighten financial conditions as part of Xi's new "common prosperity" drive which among other things, seeks to make housing much more affordable to everyone, not just the richest.

Sep 20 11:39

Six Evergrande Execs Face 'Severe Punishment' Over Early Redemptions For Themselves

Six senior Evergrande executives are facing "severe punishment" for securing early redemptions for themselves on investment products which the imploding Chinese real estate giant told retail investors they couldn't repay on time.

According to the Financial Times, over 40 group executives had personally invested in its investment products - with six of them securing early redemptions. All six will return the money.

"All funds redeemed by the managers must be returned and severe penalties will be imposed," said the company, which has offered to repay investors with discounted apartments and parking lots.

Sep 20 10:02

Macron Sure Looks Stupid Now for Having Picked a Fight With China on America’s and Australia’s Behalf

As far as slaps across the face go, they don’t come much bigger than this. And the giant backhander Australia just delivered France and its President, Emmanuel Macron, is bound to be repaid in kind.

Just as Prime Minister Scott Morrison can point to legitimate reasons for axing a $90 billion contract for the French to help build Australia’s new submarine fleet, Macron has more than reasonable grounds to feel angry and deceived.

To say the French are seething over the surprise new defence pact between Australia, the United States and United Kingdom would be an understatement. Overnight, Paris has gone from viewing Australia as a friend and ally to a nation which can’t be trusted.

“This decision is contrary to the letter and spirit of the co-operation that prevailed between France and Australia,” Foreign Minister Jean-Yves Le Drian and Armed Forces Minister Florence Parly said in a joint-statement.

Sep 20 08:30

This Never Happened Under Trump, Now Biden Admin Scrambling To Save Face

President Joe Biden’s new opportunity to aid Australia to launch nuclear-powered submarines may have added one alliance in an effort to counter China.

Though for France — which on Friday returned its ambassadors to the United States — the deal might have sent what little trust had been restored after four years under former President Donald Trump, experts said.

As Biden celebrated the new AUKUS pact with Australia and Britain on Thursday, French officials revealed outrage over the deal, which brought that nation's 2016 contract to build submarines for Australia to an unexpected end.

Sep 20 07:35

US-UK-Australia submarine deal is a dangerous joke which will only worsen geopolitical crisis with China

Australia struggles to keep its current six diesel-powered submarines operational; it now wants to build eight nuclear-powered submarines, despite having neither the trained manpower nor the nuclear infrastructure necessary.

This is a story of geopolitically driven military procurement gone mad.

Australia is an island nation whose very survival is dependent upon its ability to access strategic sea lines of communication (SLOCs) so that critical commerce links can operate on a sustained basis. In short, if any nation or group of nations were to cut off Australia’s sea links to the rest of the world, the country would eventually wither away and die.

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