Two can play at this Game

Stop Wal-Mart from Destroying Chinatown

Note: If you are new here, read this then this, first.

Great movie btw

Chinatown LA is under threat by the economic monster known as Wal-Mart, who wants to open a new store in Chinatown.

Chinatowns are a Mecca of prospering small business, and Wal-Mart destroys small business. Not only that, but Wal-Mart has been linked to increased poverty, exploitation of workers and other nasty things.

It is without a doubt that Wal-Mart will completely destroy one of the largest cultural and ethnic enclaves in the United States by ripping out the heart of its economy.

Visit the oppositions tumblr page and sign the petition to show Wal-Mart they're not wanted!

Where the Jobs Are

Note: If you are new here, read this then this, first. You can also contact me, KaiWen, here. 

Story Here

You know that the economy has really gotten bad when American's are actually fleeing the country to find work. With unemployment at 9%, some American's are going where the jobs are. China. The article describes one woman who moved with her husband to Xian. They didn't know anything about China or the language, but they went because they were desperate for work. In hindsight they say don't regret their  decision. They felt safer, there were many familiar American establishments such as McDonalds and Wal-Mart, and their new neighbors were very nice and accepting.

This should really be a wake up call to the growing issue of income inequity in America. She commented that in America people don't treat the poor very well (and neither does the government) but in China, people are nice to you regardless of your financial status. What does that say about America?

A Taste of American Politics Part 4

It just keeps getting better.




Heres a bonus video for the lolz

Oh FFS

From the WSJ

HONG KONG—Officials here have taken special measures to speed up approval of 270 one-year work visas for professionals looking to leave Japan after the March 11 earthquake and tsunami, a move aimed primarily at attracting and retaining top talent in the finance industry.

Talent? Talent is this

Using money printed by the government so the price of food and petrol goes up is NOT talent, its more akin to extortion.

Note TCG follows a sort of Austrian angry school of economics, sort of like Max Keiser but less polite.

Too good to be true?

China starts its thorium reactor program

The thing is it sounds TOO good to be true... and you know what people say about things which are too good to be true.



Since I am not really a scientist and much of it went over my head, I can't hope to poke holes in it any body care to poke holes in it, esp the HPC crowd?

Wind

Nooooo

China becomes #1 in something good for once, rather than pollution, executions people in prison you know the bad things.

But then I read this China is number #1 in wind power electricity generation..... I'm kind of skeptical of this in a big way... not that I'm saying China can't build them since they are pretty high up in producing solar panels. Whenever you go on a trip through the countryside as well you see millions of solar water heaters on the roof tops of homes.

But it's just that wind tech is pants. From my office window if I turn my head to the left I can see a small wind farm. There are three wind generators there.... in my 5 month tenure with the company I have yet to see them rotate EVEN ONCE.

I mean hell they messed it up big time with the 3 gorges dam, are they going to mess this up as well?


Kinda reminds me of this



and this

American Politics Part 4

Whats up China?

I've always maintained that China has some serious issues internally. The Gini coefficient for example is like a chasm (note the USA is no far behind and there are definite signs of M shaped society occurring. Sure Taiwan is M shaped but those at the bottom have a better standard of living than those at the bottom in China though!

Article is from Zerohedge, I'd take zerohedge with a pinch of salt however as Zerohedge does appear to ramp precious metals on a regular basis. My own comments are in purple

Is the Iron Fist Control of China’s Central Government Coming Unhinged?

First, what is China’s Central government trying to do? Second, is it working?

The PBOC is worried about asset priced inflation so they’ve attempted to reign in the credit tsunami they initiated in response to the 2008 economic crises. The outside perception is that if the Chinese government orders banks to lend, they lend. So if that’s the case, if the PBOC orders banks to reign in lending out of fear of overheating and future non performing loans, the banks should stop lending. For the past few years, the PBOC has established official loan quotas on banks, but the banks have exceeded the official thresholds each year. Unofficially, the problem is much worse, as banks have hidden another 30% or so of their loans in off balance sheet transactions, according to Fitch. Recently, the PBOC officially dropped the loan quota and decided to focus on the reserve ratio. The loan quotas failed and were not being obeyed, so issuing guidelines that are inevitably violated would merely highlight PBOC weakness.

Last week, immediately before President Hsu’s visit to the US, photos of a Chinese Stealth fighter were released. The timing was viewed as a way for China to flex its muscles and set the tone for the Obama meeting. That may have been the case, but on whose orders? Secretary of Defense Gates spoke with Hsu, who said he knew nothing of the photos. This sparked alarm from the administration that the leaders of the Chinese central government do not have control over the military. This is not the first allegation of lack of oversight. It also shows the hostility of China’s military leadership towards the US.

Food costs account for 40% of disposable income in China. To control prices, the central government has placed limits on the number of purchases on such things as cooking oil. There are rumors the central government is releasing stockpiles, yet prices continue to rise. China has 20% of the world’s population, but just 6% of the farmable land. If the central government begins to implement price controls, shortages are inevitable. A recent reported from World Economic Forum warned that shortages could “cause social and political instability, geopolitical conflict, and irreparable environmental damage.” The central government seems to have few options to control food inflation without causing a major disruption in the rest of the economy.

Which is a massive danger as China can feed itself but only just! Although the South North water project may allevieate some of these problems it is not coming on line for a while. Also diets have changed to include more meat. I would note however an important point is back in 1989 food inflation was pushing 18-25% which was a trigger for widespread discontent. The CCP absolutely wants to avoid this which is why the PBoC keeps on upping the reserve requirements of its banks.

Chinese soldiers and their families are mostly from rural China, the majority of whom have not benefited from China’s rising economy, with 600 million still earning less than $6 a day. Indeed, in many aspects, quality of life has deteriorated for those without connections, a prerequisite for wealth in the eyes of most Chinese according to polls. Many do not view competition for material goods as healthy, pollution and waste have worsened exponentially, housing prices have skyrocketed, and now food prices surging. Businessweek reported that ordinary Chinese are increasingly yearning for a return to Mao style communism – “a more equal” society, with Conqing Party Boss Bo Xilia gaining support and pushing for membership to the inner circle.

To summarize, banks have ignored PBOC orders, the military is doing their own thing, and food prices are surging with few solutions available to the central government. They have a fixed asset bubble, a likely onslaught of bad loans in the offing, and millions of jobs tied to construction. Many Chinese are worse off and the military is more sympathetic to ordinary Chinese than the noveau riche. Inflation is nearing levels associated with social unrest. The situation is a powderkeg.

The major point is Chinese people are NOT apathetic as people are in the west! History has proven for centuries that people who are completely outgunned in Asia will stand up and be counted even be gunned down.

Benake gets a smack!

Wow happened faster than I thought, China/Russia are kind of tired of the US printing presses going like crazy..... looks like the trade war is on.

Unfortunately this may mean that London is also buggred too! As London is one of the middle men who scrape a % off the dollar intermidiary trades! kaboom!


Here

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

"That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries," he said.

Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.

The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.

Putin said one of the pacts between the two countries is about the purchase of two nuclear reactors from Russia by China's Tianwan nuclear power plant, the most advanced nuclear power complex in China.

Putin has called for boosting sales of natural resources - Russia's main export - to China, but price has proven to be a sticking point.

Russian Deputy Prime Minister Igor Sechin, who holds sway over Russia's energy sector, said following a meeting with Chinese representatives that Moscow and Beijing are unlikely to agree on the price of Russian gas supplies to China before the middle of next year.

Russia is looking for China to pay prices similar to those Russian gas giant Gazprom charges its European customers, but Beijing wants a discount. The two sides were about $100 per 1,000 cubic meters apart, according to Chinese officials last week.

Wen's trip follows Russian President Dmitry Medvedev's three-day visit to China in September, during which he and President Hu Jintao launched a cross-border pipeline linking the world's biggest energy producer with the largest energy consumer.

Wen said at the press conference that the partnership between Beijing and Moscow has "reached an unprecedented level" and pledged the two countries will "never become each other's enemy".

Over the past year, "our strategic cooperative partnership endured strenuous tests and reached an unprecedented level," Wen said, adding the two nations are now more confident and determined to defend their mutual interests.

"China will firmly follow the path of peaceful development and support the renaissance of Russia as a great power," he said.

"The modernization of China will not affect other countries' interests, while a solid and strong Sino-Russian relationship is in line with the fundamental interests of both countries."

Wen said Beijing is willing to boost cooperation with Moscow in Northeast Asia, Central Asia and the Asia-Pacific region, as well as in major international organizations and on mechanisms in pursuit of a "fair and reasonable new order" in international politics and the economy.

Sun Zhuangzhi, a senior researcher in Central Asian studies at the Chinese Academy of Social Sciences, said the new mode of trade settlement between China and Russia follows a global trend after the financial crisis exposed the faults of a dollar-dominated world financial system.

Pang Zhongying, who specializes in international politics at Renmin University of China, said the proposal is not challenging the dollar, but aimed at avoiding the risks the dollar represents.

Wen arrived in the northern Russian city on Monday evening for a regular meeting between Chinese and Russian heads of government.

He left St. Petersburg for Moscow late on Tuesday and is set to meet with Russian President Dmitry Medvedev on Wednesday.

Boeing and Airbus are gonna be pissed

China has unveiled it's natively designed, manufactured and materials sourced aircraft the C919 with 194 seats.

Here

Well thats airbus and Boeing buggered then isn't it!

hey comrade!

Taken from CH4's Britain's trillion pound debt horror..... and Britain has the gall to call China communist!

The full hour version is here

http://www.youtube.com/watch?v=iOsqBf5hDjI

Non UK people may not be able to see this due to blocking type arrangements of youtube. I would note however that the video is a tad polemic. Since the miracle of Hong Kong is over egged massively. It ignores the uber poverty which is hidden away in HK and how low wages can get in HK.

All your base..

An old meme...



From Zero Wing which was on the megadrive, THE console to have in the 1980s before the Super Nintendo came along.




Quite curiously from my office window where I can see a useless wind turbine which has not moved for the 2 months I've worked there. I can also see some new houses being put up and it looks like this.

Currency Wars

Epic

It's all China fault part 2

Which sums pretty much what I've been saying for a while now. If you are in the USA buy made in USA. UK buy made in UK! And stop buying the shit that comes out of China these days. Stop supporting the companies say Walmart which send American jobs overseas. Although in the short term it may well cost you a few more $$. In the long term those $$ you save are at the cost of some other poor sod's job. TCG is of course not exactly innocent in this, using his dell (made in Ireland though) and a Toshiba as well as riding a Japanese motorbike. However at least the people and factories in Japan are at a similar living standard and wage level.

On that note this may well correct itself over time, seeing as China's economy has only benefited the few (quelle surprise) look at the Gini coefficient and China looks like an M shaped society. Which TBH can only end in drowning in inflation as the large numbers of Chinese exploited demand more money and want part of the pie. Just like their Korean, Japanese and Taiwanese fellows had. Or you get civil strife.

A taste of American Politics Part 3

With all of the squabbling and political mudslinging, there seems to be a trend of making China as a scapegoat for America's economic problems. While Chinese outsourcing is certainly a major part of the massive decline in US manufacturing jobs, you can't pin the collapse of the housing market or Wall Street market dives solely on them. Thank God this will be over in a few days. If Im not mistaken, political TV ads are banned in the UK and many other countries. We need those laws here.

First, some Pics:

And lets finish off with some NMA Win

China fires a shot across the bow of the west

Quite simply most western nations are FUCKED. They are all running a ZIRP (zero interest rate policy) and are mugging their creditors via the printing press. Such economies need to maintain ZIRP or they are FUCKED, i.e. they can't take anything more than 0%~0.5% and yet shock horror China increased its interest rates to curb inflation.

The effects are much like US effects on the world economy......

From reuters

(Reuters) - China's central bank surprised on Tuesday with its first increase of interest rates in nearly three years, a move that reflects concern about resurgent asset prices and could mark the start of a more aggressive phase of monetary tightening in the world's fastest-growing major economy.

The People's Bank of China said it was raising benchmark rates by 25 basis points, taking one-year deposit rates to 2.5 percent and one-year lending rates to 5.56 percent.

If there was ever any doubt about China's role in driving the stuttering global economic recovery, the impact was felt by markets across the board. Oil and gold prices tumbled, stocks turned negative in Europe and the dollar jumped.

"The interest rate rise is entirely outside of market expectations," said Zhu Jiangfang, chief economist at CITIC Securities in Beijing.

"The recent rise in headline inflation has put the real rate into negative territory. And I think that's why the central bank needs to raise interest rates in such a hasty way," he said.

Some analysts said the rate increase also suggested a deal was in place between China and the United States to strengthen the yuan and put an end to worries about a currency war of competitive devaluations ahead of upcoming Group of 20 meetings.

But others said just the opposite was the case -- with higher rates, Beijing can afford to rely less on currency appreciation to keep the economy on an even keel.

Finance ministers of the G20 major economies will aim to tackle the currency strains in a meeting in South Korea starting on Friday. The country also hosts a G20 leaders' summit in November.

Although announced by the People's Bank of China, the decision to increase rates would have received approval from the highest echelons of Chinese power, with Premier Wen Jiabao likely signing off on it.

Once a consensus has been forged in Beijing to raise or cut rates, past experience shows that moves often come in bunches.

In the view of some, it is about time for China to embark on a more aggressive tightening cycle. To date, it has relied on lending restrictions and banks' reserve requirements to keep growth from boiling over.

"Fundamentally, policy rates are just too low for an economy that's growing around 10 percent. To avoid bigger distortions, China needs to start moving rates to more appropriate levels," said Rob Subbaraman, an economist with Nomura in Hong Kong.

"China's economy looks as though it's decoupling from other major economies, and its policies should as well," he said.

DEBATED BUT UNEXPECTED

A number of leading economists, including some advisers to the central bank, have urged an increase in deposit rates to keep savers' returns in positive territory.

Currency wars...

Oh and UK HPCers.

We're utterly fucked...

Pop?

One for the HPCers, you know who you are:

China announces rules to curb land hoard

September 27, 2010 - 6:09PM

AFP

China on Monday unveiled new rules to curb land hoarding by developers, its latest efforts to pop a feared speculative bubble in the nation's soaring real estate sector.

Developers will be banned from bidding for more properties if they have lands idle for more than a year, illegally transferred lands, or developed land in breach of agreements, two Chinese ministries said.

Local governments must give priority to land development projects centred on the building of affordable homes, the Ministry of Land and Resources and the Ministry of Housing and Urban-Rural Development said in a joint statement.

They reiterated that at least 70 per cent of land supplies should be set aside for public housing or smaller apartments.

Local authorities that fail to meet the target will be barred from offering land for luxury housing, the statement said.

Beijing has imposed a range of measures since April, including higher down-payment requirements and mortgage rates, to prevent the real-estate sector from overheating and causing a bubble analysts say could derail the economy.

Transactions were relatively muted due to these measures until mid-August, but analysts have warned the surge in transaction volumes in recent weeks suggests there may have been a renewed increase in speculation.

China Vanke, the nation's largest property developer by market value, fell 3.80 pe rcent on the news in early trade Monday before rebounding 0.6 per cent into positive territory in the afternoon, sitting at 8.20 yuan ($A1.27)

China Vanke, the nation's largest property developer by market value, fell 3.80 pe rcent on the news in early trade Monday before rebounding 0.6 per cent into positive territory in the afternoon, sitting at 8.20 yuan ($A1.27)

From here

Looks like we might see less fuckers like this:

Read about it here but essentially developers wanted to build on his land. And wanted to give him a few bucks for it which he said no to so they attempted to force him out by digging all around his home.

And so it begins

The beginings of economic war here

Meh no wonder my Toshiba notebook (a replacement for a machine bought in 2004) is takin' so freakin long to be made and shipped to me..

How come whenever I say I'm going to bugger off I always find something to say?