Tag Archives: China

Bill Bonner: The Real Reason American Capitalism Is Failing

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Bill-Bonner2

“Come to China, and you will be impressed, as we are, with the material progress made over the last 30 years.  China’s success is widely misunderstood. Then again, so is American capitalism.  What does it take to produce prosperity?  Property rights – you have to believe that you can control and enjoy what you produce. Stable money – you have to be able to count on the medium of exchange. Freedom of action – you have to be able to go on with your business without too much state intrusion. Meanwhile in the US, the planners… regulators… controllers… meddlers… and zombies – all those who prevent real prosperity – grew bolder and more numerous.”

http://bonnerandpartners.com/real-reason-american-capitalism-failing/

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Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

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“According to Russia’s RIA Novosti, citing business daily Kommersant, Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers. Meaning Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is conerned, but most importantly, transact completely away from the US dollar thus, finally putin'(sic) in action the move for a Petrodollar-free world.”

http://www.zerohedge.com/news/2014-08-27/gazprom-begins-accepting-payment-oil-ruble-yuan

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Investing: ‘When things go on sale, people run out of the store’

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bonner-logo-latin1

“A preference for relatively cheap and out-of-fashion Chinese and Russian stocks over relatively expensive and in vogue US stocks makes perfect sense.  After all, on a trailing P/E of 6.9, each dollar of reported 12-month earnings in China will cost you $6.90. And on a trailing P/E of 5.6, each dollar of reported 12-month earnings in Russia will cost you $5.60.  Compare that to the US. On a trailing P/E of 20 for the MSCI USA Index, each dollar of reported 12-month earnings in the US will cost you $20.  Of course, the US stock market is rising.  This makes it easier for an investor to buy US stocks over Chinese or Russian stocks… because he has the comfort of doing so alongside the crowd.”

 

http://bonnerandpartners.com/theres-thing-bad-investment/

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Supposed Ruin in Hong Kong Leaves Out the Larger Picture

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“What’s going on in China and Hong Kong is ironic because it seems to mimic much that has held the West back in modern times. In fact, much that China suffers from at its current level of development corresponds to a similar evolution in the West.  From what we can tell, the RMB/Yuan is growing in importance as a currency in Hong Kong. Additionally, Hong Kong’s stock market is now heavily dependent on Chinese-listed companies. In fact, this might explain some of the growing income disparities that the Bloomberg article complains about.  Bloomberg seeks to blame an authoritarian Chinese political influence for what is happening to Hong Kong. But the truth is more complex.”

http://www.thedailybell.com/news-analysis/35613/Bloomberg-Reports-on-Ruin-in-Hong-Kong-But-Leaves-Out-the-Larger-Picture/

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Citic Securities: Interest in Chinese REITs High

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“Interest in Chinese REITs is high following Citic Securities Co.’s listing of the country’s first exchange-traded REIT last month, according to the general manager of a Citic Securities subsidiary.  Citic Securities Co. listed the REIT, called the Citic Qihang Specific Asset Management Plan, on May 21 after raising $835 million at the end of April from a handful of institutional investors. The REIT is underpinned by two office buildings originally owned by Citic Securities in Beijing and Shenzhen.  Citic Securities is now preparing to launch dozens of other REITS on behalf of state-owned investment companies, industrial companies, financial institutions and property developers.”

http://blogs.wsj.com/moneybeat/2014/06/03/citic-securities-interest-in-chinese-reits-high/

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China’s falling real-estate prices trigger protests, clashes

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“The sharp drop in China’s housing prices has led to an outburst of anger among property owners, leading to violent clashes in some cases, according to local media reports Tuesday.  In one case, scores of property owners surrounded a Shanghai sales office of Greentown China Holdings Ltd. to protest the developer’s 25% cut to prices within a five-day period, according to a report on the NetEase news portal site 163.com.  Protesters held banners with slogans such as ‘You cheated us!’ and ‘300,000 yuan [$48,750] worth of assets evaporate within five days — years of work in vain!’ according to photographs of the demonstration posted on the site.”

http://www.marketwatch.com/story/chinas-falling-real-estate-prices-trigger-protests-clashes-2014-08-26

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Russia seeks safe haven in gold, away from dollar and euro

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“‘Due to the worsening geopolitical situation, the Central Bank actively redistributed foreign exchange reserves, replacing US Treasury bonds with gold,’ Alfa Bank’s chief economist, Natalya Orlova, told Kommersant.  Instead of buying euros and dollars, Russia’s Central Bank is eyeing the Chinese yuan and the Japanese yen.  Boosting currency swaps and bilateral payments with China and other strategic trade partners will continue to bypass the US dollar. Last week, Russia’s and China’s central banks have agreed to increase currency swaps.  Holding more of these currencies is a logical move for Russia, which has high trade volumes with both China and Japan.”

http://rt.com/business/180588-russia-central-bank-gold/

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Understand the Emergence of the Marijuana Meme – Even In China

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Anthony-Wile1

“We can see once more how misleading it is to characterize countries as people. ‘China’ may seem to be monolithically opposed to legal marijuana but its entrepreneurial class is already anticipating the possibility of participating in a post-prohibition world. And in Canada, certain business interests are obviously pressuring the current regime to be more flexible about marijuana consumption, especially in small amounts. Analyze political behaviors or entrepreneurial activities from the standpoint of culture and people rather than ‘lines on a map.’ When it comes to marijuana or any other industrial trend – large or small – a look behind the “curtain” is both beneficial and enlightening.”

http://www.thedailybell.com/editorials/35584/Anthony-Wile-Look-to-Human-Action-to-Understand-the-Emergence-of-the-Marijuana-Meme-Even-in-China/

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Legal Marijuana: China Competing With U.S. Cannabis Companies?

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“The battle over marijuana may become East vs. West since Dr. Luc Duchesne, an Ottawa-based businessman and biochemist, claims Chinese medical marijuana may be the biggest competitor in the U.S.:  ‘Because cannabis in Western medicine is becoming accepted, the predominance of Chinese patents suggests that pharmaceutical sciences are evolving quickly in China, outpacing Western capabilities. CTM [Chinese traditional medicine] is poised to take advantage of a growing trend. The writing is on the wall: Westernised Chinese traditional medicine is coming to a dispensary near you.’ According to WIPO, Chinese firms have filed 309 of the 606 patents relating to medical marijuana.”

http://www.inquisitr.com/1404612/marijuana-legalization-may-have-chinas-big-pot-competing-with-american-cannabis-companies/

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Scenes From 21st-Century China

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“The People’s Republic of China, the most populous country, and the second-largest economy, in the world, is a vast, dynamic nation that continues to grow and evolve. In this, the latest entry in a semi-regular series on China, a homemade 3-ton tank, a man inflating tires with his nose, a massive teapot-shaped building, nearsightedness-prevention devices, a replica Sphinx, and much more. This collection offers only a small view of people and places across the country over the past few months.”

http://www.theatlantic.com/infocus/2014/07/scenes-from-21st-century-china/100782/

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