Tag Archives: China

Anti-China riots in Vietnam ease after 1,400 protesters arrested

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“Anti-China protests in Vietnam eased yesterday after the arrest of more than 1,400 demonstrators.  There were no reports of fresh violence following the deadly wave of unrest that swept through 22 of Vietnam’s 63 provinces from Tuesday.  It was triggered by China’s deployment of an oil rig in the disputed Paracel Islands in the South China Sea.  More than 400 factories were damaged by mobs and the Chinese foreign ministry confirmed yesterday that two Chinese nationals had been killed.  Many Chinese in Vietnam were still fearful for their safety yesterday as speculation mounted about another demonstration tomorrow.”

http://www.scmp.com/news/asia/article/1513906/anti-china-riots-vietnam-ease-after-1400-protesters-arrested

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John Kerry calls Beijing ‘provocative’ in South China Sea disputes

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“China and the United States exchanged heated words yesterday over the recent tensions between Beijing and its neighbours about disputed territory in the South China Sea.  ‘[John Kerry] said China’s introduction of an oil rig and numerous government vessels in waters disputed with Vietnam was provocative,’ US State Department spokeswoman Jen Psaki said, referring to a telephone call between the US secretary of state and Foreign Minister Wang Yi.  Wang called on the US to be objective and urged it to ‘stick to its promises, and act and speak cautiously’, according to a statement on the Foreign Ministry’s website.”

http://www.scmp.com/news/china/article/1511267/kerry-says-china-action-south-china-sea-dispute-provocative

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Vietnamese Take to Streets to Protest China Oil Rig

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“Vietnam’s communist government allowed thousands of citizens to protest in the nation’s biggest cities to denounce a Chinese oil rig placed in contested waters that has led to clashes between ships from the two countries.  Vietnam said Chinese boats rammed its vessels, fired water cannons and used low-flying aircraft in a confrontation over the rig close to the Paracel Islands that both countries claim. China the next day accused Vietnamese ships of provoking the clash by crashing into its boats.  The U.S. has criticized China for taking ‘provocative’ and ‘unilateral’ actions. Spokeswoman Jen Psaki said that China had engaged in ‘dangerous conduct and intimidation.'”

http://www.bloomberg.com/news/2014-05-11/vietnamese-take-to-streets-to-protest-china-oil-rig.html

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H.K. issues Vietnam travel warning after mobs torch Chinese factories

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“The Hong Kong government issued an amber travel warning for Vietnam after protesters there vandalised hundreds of foreign-owned factories and torched at least 15 of them.  The riots followed a large protest by workers on Tuesday against China’s recent placement of an oil rig in disputed waters around the Paracel Islands in the South China Sea.  The rioting in Binh Duong province followed protests by up to 20,000 workers at industrial parks near Ho Chi Minh City. Smaller groups of men attacked factories they believed were mainland Chinese-run, but many were Taiwanese or South Korean, the provincial government said.”

http://www.scmp.com/news/asia/article/1511834/factories-set-ablaze-during-anti-china-protests-vietnam

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Faber Long China Via Hong Kong; Vietnam Also Attractive

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“In Hong Kong, you have reasonably good corporate governance, you have very-well-managed companies, which are owned largely by families. So the families are ready to be conservative in their dealings. They have low leverage. So if you believe that China is bottoming out and going up, I would own some Hong Kong shares, as I do.  Another recovery play—a market that has a similarly poor performance to China over the last few years—is Vietnam, which is very cheap, which has deleverage and improving fundamentals in terms of growing trade surplus, rising exports and so on. So I think Vietnam is better than China itself, if you believe in the Chinese recovery.”

http://www.etf.com/sections/features/21845-faber-long-china-via-hong-kong-premium.html?fullart=1&start=2

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Jack Ma’s U.S. Inspiration Set Path to Alibaba IPO

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“The online world opened to billionaire Jack Ma, founder of Alibaba Group Holding Ltd., on his first trip to the U.S. in 1995. While visiting a friend in Seattle who showed him the Internet, Ma typed the word ‘beer’ and couldn’t find any Chinese information. He decided to fix it.   Almost 20 years later, Alibaba is China’s largest online retailer, and Ma’s U.S.-inspired brainchild is readying for an initial public offering in New York that could raise as much as $20 billion, potentially making it the largest IPO there ever. The valuation may make the 49-year-old entrepreneur the third-wealthiest in China, with $12.5 billion, and one of the 100 richest worldwide in the Bloomberg Billionaires Index.”

http://www.bloomberg.com/news/2014-05-07/jack-ma-s-u-s-inspiration-set-path-alibaba-ipo.html

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Ecuador Offers to Buy Back Its Defaulted Bonds — With a 50% Haircut

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“Ecuador is approaching holders on a one-by-one basis with offers to pay at least 50 cents on the dollar for the notes, according to two of the people. Ecuador bought back more than 90 percent of its defaulted bonds in 2009 at 35 cents on the dollar, months after defaulting on $3.2 billion of securities.  Faced with a swelling budget deficit, President Rafael Correa said last month that he’s looking to sell bonds to international investors this year, the first time since the default, after relying mostly on China for financing during the past several years.  Correa, a 51-year-old former economics professor, called the bonds “illegitimate” when he halted payments in 2008.”

http://www.bloomberg.com/news/2014-05-05/ecuador-said-to-step-up-offers-to-buy-back-defaulted-bonds.html

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The American Empire vs. Your Retirement Prospects

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“The United States of America is an empire. But it is an empire like no other in history. It is an empire based on giving away money. The general taxpayers are taxed to give the money away, and those who profit from the expansion of the empire are paid by the government to produce the weapon systems which enable the United States government to project power around the world.  The foreign aid system is a system of bribery. It bribes leaders of countries around the world to keep their mouths shut regarding the extension of American power. This extension of power does not benefit the man in the street. It benefits various special interests, especially the military-industrial complex.”

http://www.garynorth.com/public/12411.cfm

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China’s Dollar Trap: Foreign Exchange Reserves Hit $3.8tn

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“Beijing accumulated the biggest foreign exchange reserves in the world over the last couple of decades, by running huge trade surpluses and keeping the yuan’s value low. Beijing’s forex reserves had stood at a mere $100bn in 1996, but the country’s emergence as the world’s biggest exporter helped it overtake Japan as the biggest holder of foreign exchange in ten years.  In 2013, the forex reserves saw a jump of $510bn, compared with $130 billion net increase in the previous year.  Barclays Capital said in a research note the massive rise in China’s foreign reserve came on the back of capital inflows amid large interest rate differentials and a wide trade surplus.”

http://www.ibtimes.co.uk/chinas-dollar-trap-foreign-exchange-reserves-hit-3-8tn-1432428

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Hoarding Gold: China’s Plan for Survival

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“No one can know with any degree of accuracy when China will officially announce its gold reserves. I went out on a limb and said China could do that by April 24, 2014, since the country has a fetish for doing things in increments of five, and that date was five years after the previous announcement. But the reality is China could shock the world at any moment with its gold holdings. Focusing on a wrong date, though, is like faulting Shakespeare for misplacing a comma — you’re blind to the far-greater message: that China is cornering the market in gold because of a dramatic revision to the global monetary order that we all know as normal.”

http://thesovereigninvestor.com/2014/04/30/hoarding-gold-chinas-plan-survival/

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