Tag Archives: China

The Soviet Setup is Now the China Setup

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“The most lucrative trade of 90’s Soviet period was obtaining a bank loan (there were only state banks). Which was easy as long as you paid bank manager 20% straight in the pocket. It was up to you what you did with the 80%. Fast forward to today’s China. Special investment financing vehicle and state bank loan architecture has been in place for a long time and not just since 2008. As you can imagine such vehicles are predominantly used to skim a little bit off the top. Operator gets rich, lender gets rich, party official gets rich.  2008-2009 RMB 4trn stimulus is the payday system the operators were waiting for, a once in a lifetime chance.”

http://www.economicpolicyjournal.com/2013/07/the-soviet-setup-is-now-china-setup.html

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Rural Chinese children ‘left behind’ as parents join mass migration to the cities

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“For more than 20 years China’s government has encouraged the rural poor to move to cities as a way to boost growth and lift living standards. The country now has 263 million migrant workers, and new leaders who took office this year have renewed the drive to urbanise. But while city wages are higher, so are their costs of living, exacerbated by a ‘hukou’ residency system that bars Chinese from receiving benefits such as healthcare and schooling outside their registered hometown. Nearly half of left-behind children live with neither of their parents. Almost 70 percent of those stay with grandparents. A quarter have other guardians, and seven percent survive on their own.”

http://www.rawstory.com/rs/2013/06/12/rural-chinese-children-left-behind-as-parents-join-mass-migration-to-the-cities/

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UK Porn Filter: Censorship Extends Beyond Pornography, But One ISP Is Fighting Back

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“One U.K. ISP, TalkTalk, already has ‘The HomeSafe System,’ which was singled out for praise by David Cameron when announcing the new policy. It gives another good idea of the kind of Internet censorship the British government is looking to implement.  HomeSafe is actually operated by Huawei, a Chinese company that both the U.K. and the U.S. accused of having close ties with the Chinese government.  The U.S. has branded Huawei a threat to national security.  ISPs will be able to use whatever filter system they like, so many may not choose to be associated with Huawei. Others are refusing to take place in the filters at all.”

http://www.ibtimes.com/uk-porn-filter-censorship-extends-beyond-pornography-one-isp-fighting-back-1361379

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Eric Margolis: Japan Must Face Up To China

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“The 1960 US-Japan Security Treaty laid the foundation of relations between Washington and Tokyo. […] The key to the treaty was the establishment of permanent US air, land, and sea bases in Japan. They remain, half a century later. Japan thus became a giant US aircraft carrier from which it dominates highly strategic North Asia. In exchange, Japanese industry was given open access to the US market, thus laying the base of Japan’s economic upsurge of the 1960’s. South Korea enjoyed a similar deal. This cozy arrangement is now being challenged by the rapid rise of China’s military and economic power.”

http://ericmargolis.com/2013/07/japan-must-face-up-to-china/

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Paul Craig Roberts: The Two Faux Democracies Threaten Life On Earth

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“The Pentagon’s ‘AirSea Battle’ and Lieber and Press’ article in Foreign Affairs have informed China and Russia that Washington is contemplating pre-emptive nuclear attack on both countries. To ensure Russia’s inability to retaliate, Washington is placing anti-ballistic missiles on Russia’s borders in violation of the US-USSR agreement.  Because the American press is a corrupt government propaganda ministry, the American people have no idea that neoconized Washington is planning nuclear war, or of former President Jimmy Carter’s recent statement, reported only in Germany, that the United States no longer has a functioning democracy.”

http://www.paulcraigroberts.org/2013/07/24/the-two-faux-democracies-threaten-life-on-earth-paul-craig-roberts/

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Bill Bonner: Where will China be in 6 months…or 6 years?

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“Where will China be in 6 months…or 6 years? It is impossible to know. Goldman Sachs reduced its estimates of China’s growth. But it has no better idea than Paul Krugman or anyone else. The Chinese could surprise us in either direction; the economy could be much worse than expected…or much better.  But one thing does appear to be happening. After 20 years of spectacular growth, China is looking for a new way forward.”

http://www.equitymaster.com/dailyreckoning/detail.asp?date=07/25/2013&story=11&title=Where-will-China-be-in-6-monthsor-6-years

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2013 Bitcoin Mid-Year Review and Outlook

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“The past six months may one day prove to be among the most important in bitcoin’s history. As global events sparked increasing need for frictionless wealth transfers, bitcoin’s popularity ballooned and ignited a conversation that will likely continue to flourish in the years to come. Growth in bitcoin’s value was outpaced only by the incredible interest from entrepreneurs, investors and the press. In this 27-page report we cover the major events from the first half of 2013 and what to look out for in the months ahead.”

http://thegenesisblock.com/bitcoin-mid-year-review-and-outlook/

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Bitcoin exchange opens in Hong Kong

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“Anti-money laundering and know-your-customer compliance is easier for banking and financial institutions when they deal with virtual currency exchanges rather than cash, says the founder of what may be Hong Kong’s first licensed Bitcoin exchange. Aurélien Menant, a former investment banker at Société Générale and now chief executive and founder of Gate Digital Services, said Bitcoin’s traceability feature would help institutions with compliance and risk management.”

http://www.thebitcoinchannel.com/archives/18000

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China Orders Ban on New Government Buildings

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“Debt-fueled spending by local governments, partly for new buildings but also for roads, sewers, water systems and other projects, has been a growing worry in recent years for Beijing policy makers, as well as for economists and credit-rating agencies around the world. Most tallies of total local government debt in China tend to be in the vicinity of $2 trillion, equal to three months of China’s entire economic output, but some estimates are even higher.  A clear loophole in Tuesday’s directive is that it does little to rein in spending by enterprises partly or entirely owned by government entities.”

http://www.nytimes.com/2013/07/24/world/asia/china-orders-halt-to-construction-of-government-buildings.html?nl=todaysheadlines&emc=edit_th_20130724&_r=1&

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CNY Challenges EUR For Second Largest Bitcoin Exchange Volume

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“Since the beginning of this year, China has played an increasingly important role in the digital currency universe. After state-run CCTV ran a documentary about bitcoin in May, Chinese adoption grew dramatically. At the time it was unknown whether the interest spike would be a mere blip in bitcoin’s history or a trend that would continue into the future. Since beginning the year at just over one percent of total bitcoin trading volume, CNY trading has recently ballooned to 10% of the total market, claiming the title of second largest bitcoin trading volume for 13 out of 23 days so far in July.”

http://thegenesisblock.com/cny-challenges-eur-for-second-highest-bitcoin-exchange-volume/

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