China’s Debt is No Big Deal

China’s Debtis No Big Deal

In fact. China’s debt is not big deal.  Western media is as wrong about China’s bet ‘problem as they are about most things Chinese. Here’s one of the world’s leading experts on China’s debt:

Yukon Huang: Many people feel that China is heading for a debt crisis. I believe that the country faces a difficult situation, but it doesn’t fit the stereotype of a nation which is set to undergo a debt crisis. China actually faces a problem in the area of corporate debt, which as a share of the nation’s GDP is one of the highest in the world.

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Taiwan and China Are Reuniting. Now!

Lee Kuan Yew claims that unification is inevitable

Lee Kuan Yew at the release of his previous book, Sept. 16, 2013. (File photo/Xinhua)

Lee Kuan Yew at the release of his previous book, Sept. 16, 2013. (File photo/Xinhua)

In his latest book, One Man’s View of the World, Singapore’s founding father Lee Kuan Yew says that Taiwan’s unification with China is only a matter of time and that efforts to separate the two sides of the Taiwan Strait will only make the process more painful for the people of Taiwan. Unification has become a political taboo in Taiwan and as the former Singapore leader has been a friend to the country in the past, his frank remarks are difficult for many to accept. Moreover, the painful process of unification with China, as Lee describes it, is a reality the Taiwanese have already witnessed due to political disputes between pro-independence and pro-unification camps and the loss of its global competitiveness.

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China’s International Relations

China’s International Relations Are Profitable

China does international relations on the cheap. They have a limited, realistic agenda confined to potential win-wins:

CHINA: You need a port built? Great! We need access to your minerals, so we’ll build your country’ first, deepwater, state of the art port for free. And we’ll pay market rate for your minerals less 2.5% so we can recover the cost of the port over the 30-year term of the bonds.

DEVELOPING COUNTRY (INCLUDES GREECE, AUSTRALIA): Fuck yeah!

This was negotiated in 23 minutes by a deputy trade consul in China’s Athens embassy. It was solemnized when Premier Li visited the country 5 months later. Cost? $0.00. Benefit? Priceless.

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China’s Great Famine

China’s Last Great Famine—by Lloyd Lofthouse

The loss of life during China’s last Great Famine—in the West and especially the United States—has been blamed on Mao and the Chinese Communist Party, but finding blame on a famine in China isn’t that easy when you know the history of droughts and famines in that country.

It’s no secret that many in the United States think that Mao was a monster worse that Adolf Hitler or Stalin, and that Mao was responsible for killing 30 to 60 million people during what is known as China’s Great Famine.

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China and Japan

China and Japan: When to Forget?

A recent article in The Diplomat  asserted that  “The problem with the Chinese Communist Party’s rendering of the past is that it encourages the Chinese people to remain frozen in a time of humiliation.”

Nonsense. It’s an effective emotional reminder of a recent horror; it encourages the Chinese people not to take their collective foot off the gas until the once-smouldering wreckage that was China has disappeared from the rearview mirror.

My Chinese friends are in their 60s and 70s, wealthy, British-educated Hong Kong expats, and they frequently speak with shock and bewilderment about Japan’s cruelty to the Chinese people. And they are incredulous that the grandson of one of the cruelest Japanese was Prime Minister Abe’s grandfather. And that Mr. Abe has pulled a land-grab so blatant that even the US will not endorse it. So Japan is fanning those dying embers, too.

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China’s Quantum Network

China’s Quantum Network Will be the Cat Among the Canaries

China has the only functioning quantum encryption network on earth. It will go commercial next year, between Beijing and Shanghai. 

At first only government agencies, banks, and large corporations will be allowed to subscribe to it. It will be impregnably secure. If you were head of State of any country on earth, what favors would you do for China – in exchange for a secure network? Moscow–Petersburg will no doubt be the first foreign customer, and will allow the Russian Army’s communications to be completely secure. Hmmmm. http://rt.com/news/242317-snowden-it-conference-germany/

‘You are surveillance target’ – Snowden to IT specialists

Former NSA contractor Edward Snowden. (Reuters / Mark Blinch)

Former NSA contractor Edward Snowden. (Reuters / Mark Blinch)

NSA whistleblower Edward Snowden appeared via video link from Moscow at the CeBIT IT trade conference in Hanover, Germany. He warned IT specialists they are the target of government surveillance.

“They are looking for the people who are in this room right now. You are their target, not because you’re a terrorist, but because you have access to systems. You have access to the private records of people’s private lives and these are the things they want,” he warned.

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Trusting China’s Government

According to Harvard, Pew Charitable Trusts, the Edelman Corporation and others, 95% of Chinese trust the Government of China. It doesn’t lie to them and it keeps its promises. Everybody has gained in wealth and personal freedom. It’s a very different story in the USA, whose government lies to its people and never keeps its promises. Here’s what the University of Chicago discovered about trust in the US Government:

WASHINGTON (AP) — Americans’ confidence in all three branches of government is at or near record lows, according to a major survey that has measured attitudes on the subject for 40 years.

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Relocations in China

Relocation money not a blessing for everyone in China Skyscrapers under construction behind a condemned building in Taiyuan, Shanxi province, Feb 13. (File photo/CNS) Skyscrapers under construction behind a condemned building in Taiyuan, Shanxi province, Feb 13. (File photo/CNS) China’s push for urbanization has created problems for residents in rural areas, some of whom are unable to cope with the money they are given in the form of compensation for relocation, the Beijing Morning Post reports. The problems have been raised by delegates to the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) currently holding their annual meetings in Beijing, the newspaper said. Many such rural residents are said to end up in poverty once more after they squander the money they receive as compensation for relocation. The delegates the members called for government intervention to ensure a more sustainable lifestyle, according to the newspaper. Under the government relocation scheme, a relocated family usually is often given more than one housing unit and sometimes millions of yuan in compensation, the newspaper said. Wang Juan, an official in Guiyang in the southwestern province of Guizhou who works in the relocation of residents for development purposes, said the first thing that emerges in relocated communities is luxury cars. She added that several relocated residents often do nothing but gamble every day. In March 2014, Guiyang police raided a community and arrested 23 people for gambling. These people can win or lose 100,000 yuan (US$16,000) in a night, according to the paper. Statistics from local authorities show that relocated residents account for a large number of new drug users recorded in recent years, the newspaper added. Not all of the relocated residents have seen a negative impact from their unexpected wealth, the newspaper said. Zhai Yongzhong, who received four housing units and cash compensation for relocation in 2012, still continues working for the Guiyang authorities as a garbage collector with a monthly wage of around 900 yuan (US$145). But nowadays he drives a BMW to work. Among residents in a relocated village in Guiyang, 25% continue working their existing jobs, while 70% live on the compensation money or by renting out their properties, the newspaper said. The story of Chen Qing, who used the housing units his family was given in 2012 to open the largest private care home in the central city of Wuhan, also received great public attention recently. Chen said the 35 housing units his family was given may earn up to 1 million yuan (US$159,000) in rent, but he decided to do something more meaningful. Baolingbao Biology chairman Liu Zhongli, who is also a NPC delegate, said that government-led urbanization will not change the mindset of rural residents if people are just given money so that their land can be used for development. The wealth will not be a blessing for relocated rural residents if the government does not help such people adjust to an urban lifestyle, Liu added. Read more about Relocations in China.

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How China Leads the World

Want to know how China actually leads the world? Here are some fields where they’re ahead or neck and neck:

Our Western media is mute whenever a non-US entity makes progress and the Chinese tend not to blow their own horns. So such references are fleeting. Annoyingly, they also tend to be deleted more quickly (shortage of pixels?), which necessitates the use of the Wayback Machine – and that requires more time than I have. I will keep better track in future. If anyone finds better references than the ones below, please contribute them. This could be an interesting forum..

I did not keep track of the achievements I mentioned above at the time they were published. Here are some starting points I located for Chinese innovation.

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