The Freedom Watch

8 Chinese police officers fired for skinny dipping at tourist destination

"Eight Chinese policemen were sacked Monday after their naked swim at a tourist venue made waves online, state media said. The auxiliary police officers were dismissed for 'causing a negative impact on the image of the police', Xinhua news agency quoted the public security bureau of Lushan county in the central province of Henan as saying. It said the dismissals came after photos circulated online showing the eight skinny-dipping or standing on the shore, with their uniforms on the bank. Two police vehicles were parked nearby." Continue reading →

Continue Reading8 Chinese police officers fired for skinny dipping at tourist destination

Credit crisis begins to cripple Chinese cities

"Worried lenders in the informal sector raised interest rates for small and medium-size businesses, setting off a much broader wave of defaults in recent weeks, as owners found themselves unable to repay billions of dollars in bad debts, many of them handwritten and hard to enforce in court. State-owned banks have long been allowed to lend only at low, regulated rates barely above the inflation rate, with the total value of loans controlled by quarterly quotas. These loans go overwhelmingly to large state-owned businesses, government officials and politically connected individuals, who then relend the money at much higher interest rates." Continue reading →

Continue ReadingCredit crisis begins to cripple Chinese cities

The Beginnings of a Chinese Banking Crisis?

"The Industrial and Commercial Bank of China (ICBC) displaced Bank of America to become the world's biggest bank in 2012, marking the first time in history a Chinese bank has reached this pedestal. China now has four of the world's ten biggest banks. Together, these Chinese banks have a combined market capitalization of close to $1 trillion Canadian dollars, or three times the market cap of the Canadian banking sector. ICBC alone has 393 million individual customers, which according to the Telegraph is the equivalent of a single bank managing the bank accounts of every man, woman, and child in Western Europe." Continue reading →

Continue ReadingThe Beginnings of a Chinese Banking Crisis?

Pops In China’s Construction Bubble (But It’s Not Going To End)

"'Government and banking industry sources familiar with the situation' who 'declined to be named due to the highly sensitive nature of the matter,' have been spilling the beans to the South China Morning Post. The central government, they said, is considering an 'unofficial economic stimulus' to prop up key economies like Shanghai. On the quiet! For that purpose, Agricultural Bank of China, one of the state-owned megabanks, inked a deal to lend the city of Shanghai 250 billion yuan (about $41 billion) for a number of big construction projects, the sources said. The loan would amount to 12.5% of Shanghai’s 2012 GDP." Continue reading →

Continue ReadingPops In China’s Construction Bubble (But It’s Not Going To End)

Top Chinese official warn of ‘empty cities’ emerging in China

"In a grim warning against rapid urbanisation in China, a top development official has said that reckless expansion of cities has turned many of them into ghost towns with no occupants in sight. Qiao Runling, deputy director of the China Centre for Urban Development, said local governments had relied on quick urbanisation to stimulate economic growth and generate fiscal revenue. State-run broad cater CCTV recently carried a report showing two such 'ghost cities' with massive apartment and commercial complexes with no occupants, leaving local governments in deep debts." Continue reading →

Continue ReadingTop Chinese official warn of ‘empty cities’ emerging in China

A Second Shot at History’s Greatest Investment Trend

"China is on the verge of rolling back its infamous one-child policy. When it does – likely later this year or early next year – a modern baby boom will erupt. The Chinese birth rate will ratchet higher as Chinese families are finally free to have a second child, and a spending wave will wash across the Middle Kingdom that will spawn potentially massive profits for those who invest in this demographic wave. Thus it is that China’s future is your chance to go back in time and own the kinds of stocks – McDonald’s, J.C. Penney, Coca-Cola and others – that generated fortunes for investors as they moved into their explosive growth phase because of the boomers." Continue reading →

Continue ReadingA Second Shot at History’s Greatest Investment Trend

Bitcoin Spawns China Virtual IPOs as U.S. Scrutiny Grows

"The Bitcoin craze is catching on in China. A small but growing group of investors in China have put the country into contention with the U.S. as the biggest downloader of the virtual money that’s being used to buy a growing range of goods and services online. While intensified scrutiny by U.S. regulators casts doubt on the currency’s future there, China’s Bitcoin industry is expanding. The China Securities Regulatory Commission didn’t respond to a faxed query on whether it’s looking at new rules regarding Bitcoin. So long as it remains small, the industry may continue to fly below the radar screen." Continue reading →

Continue ReadingBitcoin Spawns China Virtual IPOs as U.S. Scrutiny Grows

Capital Flows Back to U.S. as Markets Slump Across Asia

"Asia’s role as the world’s growth engine is waning as economies across the region weaken and investors pull out billions of dollars. The clouds forming in Asia as liquidity tightens and China’s slowdown curbs demand for commodities and goods are fueling a selloff of emerging-market stocks, reversing a flow of money into the region in favor of nascent recoveries in the U.S. and Europe. Emerging markets from Brazil to Indonesia have raised borrowing costs in 2013 to try to aid their currencies as the prospect of reduced U.S. monetary stimulus curbs demand for assets in developing nations." Continue reading →

Continue ReadingCapital Flows Back to U.S. as Markets Slump Across Asia

Want to invest in Cuba? Learn how to wait

"The buildings, the roads, the power grid, the water system—all need updating after decades of neglect under a socialist regime. After CNBC spent a week in Cuba meeting with the leaders overseeing economic reforms, it's unclear whether authorities are ready to make the changes necessary to become attractive to investors on a large scale. One place where such investment is visible is in the oil and gas industry. Driving toward Varadero, a team from CNBC spotted at least one oil drill bearing Chinese flags. As for any kind of large-scale privatizations, investors will have to keep waiting." Continue reading →

Continue ReadingWant to invest in Cuba? Learn how to wait

Cuba 2012 (BBC Documentary)

"In this hour-long documentary for the BBC's award-winning This World strand, Simon gets under the skin of a colourful and vibrant country famous for its hospitality and humour and asks if this new economic openness could lead to political liberalisation in a totalitarian country with a poor human rights record. Will Cuba be able to maintain the positive aspects of its long isolation under socialism - low crime, top-notch education and one of the best health systems in the world - while embracing what certainly looks like capitalism? Is this the last chance to see Cuba before it becomes just like any other country?" Continue reading →

Continue ReadingCuba 2012 (BBC Documentary)