CHINA | WHAT REALLY HAPPENED

CHINA

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.

Sep 20 06:32

Bad for business: World Bank China rigging scandal rattles investors

Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China's score in an influential report that ranks countries on how easy it is to do business there.

They also said the World Bank's subsequent discontinuation of the "Doing Business" series of annual reports could make it harder for investors to assess where to put their money.

"The more I think about this, the worse it looks," said Tim Ash at BlueBay Asset Management, adding that the reports published since 2003 had become important for banks and businesses around the world.

"Any quantitative model of country risk has built this into ratings. Money and investments are allocated on the back of this series."

Sep 20 06:32

IMF chief called out over pressure to favor China while at World Bank

World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday.

The report, prepared by law firm WilmerHale at the request of the bank's ethics committee, raises concerns about China's influence at the World Bank, and the judgment of Georgieva - now managing director of the International Monetary Fund - and then-World Bank President Jim Yong Kim.

Sep 20 05:18

Shipment of 86 fake championship rings from China which would have been worth $2.38 MILLION if real are intercepted by customs agents in Chicago

Customs officers in Chicago have seized a shipment of fake championship rings which were being sent from China and would have been worth a combined $2.38 million if they were real.

Sep 19 08:28

The Chinese tech massacre visualized...

Sep 19 06:04

Biden's warning to China: USS Wyoming test launches Trident II nuclear missiles off Cape Canaveral after Beijing warned of nuclear war risk over AUKUS submarine pact

The US Navy successfully conducted a scheduled two-missile test launch of un-armed life-extended Trident D5LE nuclear missiles from the USS Wyoming on Friday.

The USS Wyoming (SSBN-742), an Ohio-class ballistic missile submarine, was floating off the coast of Cape Canaveral, Florida when it completed the test, which was part of a Demonstration and Shakedown Operation, designated DASO-31.

A DASO is conducted to asses the fitness of the ballistic missile submarine and its crew before being sent out for operational deployment after the ship's refueling overhaul.

Sep 19 05:09

Blinken deletes tweet saying US would ‘stand with people of Hong Kong’, posts watered-down version

US Secretary of State Antony Blinken deleted a tweet that said the United States would “stand with the people of Hong Kong”, a post in which he accused Beijing of weakening the city’s long-term political stability.

He posted the message after seven Hong Kong opposition district councillors were disqualified this week, with authorities declaring that the oaths taken by them were invalid.

A spokesman for the Chinese foreign ministry’s Hong Kong office issued a statement on Friday strongly opposing “irresponsible comments from certain US politicians” on Hong Kong, saying that “no US slanders” would deter the nation’s determination to enforce “patriots administering Hong Kong”.

Sep 17 12:50

"Israel" Seeks to Replace the US with China after Afghanistan Withdrawal

On August 28, 2021, "Israel’s" Prime Minister Naftali Bennet met with Biden’s administration to discuss how the United States expects "Israel" to act towards China. This comes a day after "Israel" inaugurated the Chinese-run Haifa port terminal which was leased to China for 25 years. On the same day, an opinion piece written by "Israel’s" former president Ehud Olmert appeared in the Jerusalem post, insisting that "Israel" should refuse US demands to cool relations with China. He expressed his worry that the US appears weak, and then in the next sentence, he felt obligated to insist that this had nothing to do with its withdrawal from Afghanistan. But reading between the lines the message is clear, the US is a falling empire, and rather than sink with the ship, "Israel" is preparing to jump to a new host.

Sep 17 11:53

What could an Evergrande debt default mean for China and beyond?

China Evergrande Group is deeply in the red – to the tune of $300bn. And concerns are mounting that if it defaults on its debt, it could spell disaster for China’s property market and send shock waves through the world’s second-biggest economy.

A reckoning appeared even closer on Wednesday after Bloomberg News, citing people familiar with the matter, reported that the real estate developer may not be able to make the interest payments on some of its $300bn in liabilities next week and could also miss a principal payment on at least one of its loans.

Sep 17 07:20

Really weird things going on in China…

Sep 17 06:54

Retired Admiral And Former Obama Staffer: ‘Gen Milley Is A TRAITOR Who Must Be ARRESTED And Prosecuted For TREASON!’

Ronny Jackson, a retired Rear Admiral and former Obama physician, has called for Joint Chiefs Chairman Gen. Mark Milley to be arrested and prosecuted for “treason.”

Jackson wrote on Twitter Thursday that Milley was “willing to put the lives of America’s sons & daughters in EXTREME RISK all to undermine Trump.” Jackson ended the tweet by calling Milley a traitor and calling for him to be immediately fired and prosecuted for treason.

Sep 17 06:34

Video: 15 Skyscrapers Being Demolished in China

Sep 16 12:22

China Fires Back at ‘AUKUS’ Alliance With Violent Rhetoric: Australian Troops Would Be the First to Die

China on Thursday expressed outrage at a new security pact between Australia, the U.K. and the U.S., blasting what it considers a new Western provocation and singling out Australian troops as the first to die as a result of "Beijing's countermeasures so as to send a warning to others."

"Australia has turned itself into an adversary of China," China's English-language Global Times, considered a mouthpiece for the Chinese Communist Party, proclaimed in an editorial Thursday morning.

"If Australia dares to provoke China more blatantly," it added, "or even find fault militarily, China will certainly punish it with no mercy."

Sep 16 10:03

Trump SecDef Refutes Milley's 'Regular Comms' Excuse, Calls For Immediate Resignation

Update (1800ET): While General Milley and The White House must be hoping that if they just keep pointing the finger at Trump's behavior, this whole treasonous affair will go away judging from angry comments from Christopher Miller - who was Donald Trump's acting Secretary of Defense at the time of the calls to China - this crisis is anything but over...

JustTheNews.com's Susan Katz Keating reports that the former Pentagon chief said he did not authorize Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, to directly contact China's top military commander - contrary to Milley's claims that his conversations with Beijing were approved by defense officials.

Sep 16 09:53

'Milley is a complete nutjob': Trump tears into Joint Chiefs Chairman and says the only reason Biden won't fire him is because he knows his 'dirty secrets' about Afghanistan withdrawal

Former President Donald Trump tore into Joint Chiefs of Staff Chairman Mark Milley and President Joe Biden on Wednesday night after the commander-in-chief staunchly defended the embattled general from accusations he broke the chain of command with his calls to Chinese officials.

He accused Biden of covering for Milley because of 'dirty secrets' the general may know about Biden's chaotic Afghanistan withdrawal.

'Milley never told me about calls being made to China. From what I understand, he didn’t tell too many other people either,' the statement began.

Sep 16 08:24

Trump acting Defense Secretary Miller says he 'did not' authorize Milley China calls, says he should resign

Former acting Secretary of Defense Christopher Miller, who led the Pentagon from the period after the 2020 election through Inauguration Day, said that he "did not and would not ever authorize" Chairman of the Joint Chiefs of Staff Gen. Mark Milley to have "secret" calls with his Chinese counterpart, describing the allegations as a "disgraceful and unprecedented act of insubordination," and calling on him to resign "immediately."

In a statement to Fox News, Miller said that the United States Armed Forces, from its inception, has "operated under the inviolable principle of civilian control of the military."

Sep 16 08:24

Biden’s Pentagon Defends Milley’s Secret Talks With China

Joe Biden’s Pentagon appeared to be defending General Mark Milley’s secret talks with China amid claims of potential treason. On Wednesday, Department Spokesman John Kirby said Milley’s talks with Beijing last October and this past January were not inappropriate.

Kirby’s comments came despite Bob Woodward revealing Milley promised Beijing he would not follow President Trump’s orders in case he authorized a military strike on China. Milley also allegedly vowed to notify China if such a decision were made by Trump.

“I’m not speaking to the validity of things that are in the book, but it is completely appropriate for the chairman of the Joint Chiefs of Staff, as the senior military adviser to both the secretary and the president, to want to see those protocols reviewed on whatever frequent basis that that he wants to do that,” Kirby said. “He is basically the chief of defense for the United States. We don’t call him that, but he has chief of defense counterparts around the world.”

Sep 16 08:06

China Sends Message To Biden, Sent Four Advanced Warships To The Coast Of Alaska

It was reported today that China sent four of their advanced warships to patrol off the coast of Alaska at the end of August, entering the US exclusive economic zone just outside US territorial waters:

Sep 16 07:46

Trump SecDef Refutes Milley's 'Regular Comms' Excuse, Calls For Immediate Resignation

While General Milley and The White House must be hoping that if they just keep pointing the finger at Trump's behavior, this whole treasonous affair will go away judging from angry comments from Christopher Miller - who was Donald Trump's acting Secretary of Defense at the time of the calls to China - this crisis is anything but over...

JustTheNews.com's Susan Katz Keating reports that the former Pentagon chief said he did not authorize Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, to directly contact China's top military commander - contrary to Milley's claims that his conversations with Beijing were approved by defense officials.

Sep 16 07:33

China Blasts U.S.' 'Cliques' Before Planned Meeting With Japan, India and Australia

Leaders from the four countries, referred to as the "Quad," will meet next week in person for talks in the interest of "promoting a free and open Indo-Pacific," the Biden administration said.

Taiwan, which China claims as part of its territory, conducted military exercises Wednesday on rural roads to prepare for any possible Chinese attacks on its main airfields. The action comes as China has increased its assertiveness in the East and South China Seas, pushing Taiwan to bolster its defense and the U.S. and allies to bolster cooperation in structuring a sufficient response, the AP reported.

Sep 16 07:10

Pentagon Confirms Milley Conversations with Chinese Counterpart, Other Uniformed Leaders on Nukes

A spokesman for the Chairman of the Joint Chiefs of Staff Army Gen. Mark Milley on Wednesday confirmed some allegations contained in a new book that the chairman, allegedly fearing then-President Donald Trump would order a nuclear strike, had a meeting with other uniformed leaders and two phone calls with his Chinese counterpart.

Joint Staff Spokesperson Col. Dave Butler said in a statement (emphasis added):

The Chairman of the Joint Chiefs regularly communicates with Chiefs of Defense across the world, including with China and Russia. These conversations remain vital to improving mutual understanding of U.S. national security interests, reducing tensions, providing clarity and avoiding unintended consequences or conflict.

Sep 16 07:08

Trump SLAMS 'Traitor Miley'

Former President Donald Trump suggested Gen. Mark Milley may have committed treason with secret calls to China at the end of his administration.

The ex-commander in chief called into Newsmax on Tuesday to respond to a new book that claimed Milley, the chairman of the Joint Chiefs of Staff, pledged to give his Chinese counterpart advance notice if Trump were to order a strike against China.

"If it is actually true — which is hard to believe that he would have called China and done these things and was willing to advise them of an attack or in advance of an attack — that's treason," he told Sean Spicer and Lyndsay Keith.

Sep 16 07:07

Evergrande Suspends Trading In All Bonds

Earlier today we pointed out that in what can (obviously) only be a remarkable coincidence, China's largest, and most systematically important real estate developer, China Evergrande (and its $300+ billion in debt), collapsed on the 13th anniversary of Lehman's bankruptcy filing, when Beijing told Evergrande's creditor banks that the insolvent company, which recently hired Houlihan Lokey as bankruptcy advisor, would not pay interest on its debt next week, nor would it repay principal, in effect blessing the coming default.

And yet there was some trace of hope, because as Forte Securities trader Keith Temperton said "The Asian banks will get hit hard if there's a default, but then there will be a 10-year recovery process. The market's getting a hang of it. The way they've managed the news flow seems quite clever. They haven't let a swathe of bad news at once" giving investors and creditors some hope that the money could still miraculously reappear.

Sep 16 06:44

Chinese state-run newspaper claims warships could ‘soon’ near Hawaii

Chinese warships could “soon” show up near Hawaii and Guam, according to China’s state-run newspaper “Global Times.”

The newspaper said warships could be on their way following claims that the US Navy challenged international waters near Beijing.

The Global Times’ editor-in-chief, Hu Xijin, tweeted: “Hopefully when Chinese warships pass through the Caribbean Sea or show up near Hawaii and Guam one day, the US will uphold the same standard of freedom of navigation. That day will come soon.”

The US Navy responded to the tweet, saying they continue to uphold freedom of navigation and pointed out that Chinese spy ships have sailed freely near Hawaii in the past.

Sep 16 06:24

US, UK To Share Nuclear Submarine Technology With Australia In "Historic" Military Pact Against China

After breaking news of the the historic pact between the US, UK and Australia earlier, we have now gotten confirmation and additional information about the pact.

As the SCMP confirmed, the US, Britain and Australia announced on Wednesday a "historic" security alliance to strengthen military capabilities in the Pacific, which will share advanced defense technologies and give Australian forces nuclear submarine technology further extending Washington's drive for military cooperation that has angered China (although we are confident Gen Milley has already shared said nuclear technology with China so their anger will probably be contained).

Sep 16 06:17

“We Know What a Coup Looks Like, We Sat Through it for the Last Five Years” – Mark Levin on General Milley’s Likely Treasonous Actions with China

Mark Levin, was on with Hannity last night and he gave an excellent summary of General Milley’s actions surrounding potential treason.

Mark Levin was not happy with Woodward and Costa, the authors of the upcoming book, which is a hit job on President Trump. What they also did was sit on the news that General Mark Milley may have committed treason when he contacted the Chinese outside his chain of command both before and after the 2020 Election.

If this is true, Levin notes, he basically told his officers to take an oath of office to him.

Sep 16 05:50

Taiwan and Japan's joy at AUKUS submarine pact to take on China: Relief among the West's Pacific allies while furious Beijing warns it 'undermines peace', France fumes over 'stab in the back' and anti-nuke New Zealand BANS Aussie subs

Taiwan and Japan have welcomed a new three-way nuclear submarine pact between the US, UK and Australia aimed at combatting China - saying it is necessary to provide 'security' for the region.

The countries are both threatened by Beijing and North Korea respectively, and said the new naval alliance dubbed AUKUS would help keep the region 'free and open' and increasing 'peace and security'.

Boris Johnson, Joe Biden and Scott Morrison were also careful not to mention China when they announced the new pact - which will see Australia provided with its first ever fleet of at least eight nuclear subs - on Wednesday night, though made their intentions clear with references to 'democracy, freedom of navigation, and security'.

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