china

Japan says it faces increasing threats from China, North Korea

"Japan faces increasingly serious threats to its security from an assertive China and an unpredictable North Korea, a defense ministry report said on Tuesday, as ruling politicians call for the military to beef up its ability to respond to such threats. The report, the first since hawkish Prime Minister Shinzo Abe took office vowing to boost Japan's defenses, was likely to prompt a sharp response from Beijing, whose ties with Tokyo are strained by a territorial row. China is also upset by remarks from Abe suggesting he wants to cast Tokyo's wartime history in a less apologetic tone." Continue reading →

Continue ReadingJapan says it faces increasing threats from China, North Korea

Japanese Troops Storm California Beach as Marine Power Eyed

"A thousand Japanese troops have been learning how to recapture territory in the face of enemy fire. While the shoreline may be California, the skills they are building could one day be used closer to home. The two-week 'Dawn Blitz' joint drills in June saw a Japanese Self-Defense Force ship launching a hovercraft designed to carry troops and heavy weaponry that roared onto the beach. The operations reflect the ruling Liberal Democratic Party’s interest in developing a Marine corps to counter what Prime Minister Shinzo Abe’s government says are Chinese attempts to change the status quo in maritime disputes." Continue reading →

Continue ReadingJapanese Troops Storm California Beach as Marine Power Eyed

China Gold Output Seen Rising to Record by Mining Group

"Gold output in China, the world’s largest producer, is poised to rise almost 10 percent this year to a record even as bullion prices slump, the nation’s mining association said. Bullion extended its drop this year to 23 percent and hedge funds cut bets on a rally by the most since February after the Federal Reserve said it may slow a bond-buying program that’s been pumping stimulus into global markets. That hasn’t deterred buyers in the second largest economy, which may pass India as the largest gold consumer as early as this year as regulators in Beijing make investing in the precious metal easier." Continue reading →

Continue ReadingChina Gold Output Seen Rising to Record by Mining Group

China’s gold imports still at unprecedented highs

"China will certainly become the world’s No. 1 gold consumer this year – if indeed it was not already. So far net imports through Hong Kong for the first five months of the year have totalled over 413 tonnes – double those of a year earlier when China imported just over 830 tonnes in the full year. China’s own gold production from its mines and as a byproduct from its smelting and refining sector exceeded 400 tonnes last year and is heading to between 420-450 tonnes by 2015 according to official estimates. This suggests Chinese gold imports plus its domestic production will, this year, account for comfortably over 50% of global new mined gold output." Continue reading →

Continue ReadingChina’s gold imports still at unprecedented highs

Beauty Offshore: A Caribbean Passport For A Chinese Restaurateur

"When Zhang Lan decided last year to file for an IPO in Hong Kong for her restaurant group South Beauty, she reorganized her holdings under an entity in the Cayman Islands. However, she didn’t just move her company offshore. She did the same to herself, applying for fast-track citizenship in the Caribbean state of St. Kitts & Nevis (pop. 50,000) under an investment scheme. Three months later a passport was delivered to her office in Beijing. In June 2012 Zhang filed for a share offering in Hong Kong as the foreign principal of South Beauty Investment Co. Ltd., a Cayman-registered company that earns its revenues in mainland China." Continue reading →

Continue ReadingBeauty Offshore: A Caribbean Passport For A Chinese Restaurateur

Shanghai sees global status via new free-trade zone

"Under the plan, endorsed by the State Council on Wednesday, Shanghai is expected to allow companies to freely convert foreign exchange within specified areas of the city while allowing free capital and commodity inflow for the entire city. Mayor Yang Xiong said Shanghai’s future hinged on the free trade zone, which could give the city a leg-up over rivals. Shanghai’s ambitions to become the nation’s economic engine, leapfrogging Hong Kong as the dominant financial hub in the region are an open secret. The long-awaited policy incentive granted by the cabinet will only add heft to the city’s attempts to attract global capital and talent." Continue reading →

Continue ReadingShanghai sees global status via new free-trade zone

Biden urges end to hacking, human rights abuses by China

"'We both will benefit from an open, secure, reliable Internet. Outright cyber-enabling theft that US companies are experiencing now must be viewed as out of bounds and needs to stop,' Biden said. A recent US study said that corporate America was losing hundreds of billions of dollars a year through a vast, organized hacking campaign to steal US trade, government and military secrets. Biden also raised concerns about human rights, days after Chinese troops reportedly opened fire on Tibetans celebrating the birthday of their exiled spiritual leader, the Dalai Lama." Continue reading →

Continue ReadingBiden urges end to hacking, human rights abuses by China

Pepe Escobar: Towards a Snowden endgame

"The US Ambassador in Austria, William Eacho, was responsible for spreading the (false) information about Snowden being on board Bolivia President Evo Morales' Falcon - leading to the denial of overflying rights in France, Spain, Portugal an Italy. Eacho - a former CEO of a food distribution company with no diplomatic experience whatsoever - was appointed by Obama in June 2009. Why? Because he was a top Obama fundraiser. Eacho did little to disprove those who sustain that the NSA really needs to 'analyze' every phone call, email and tweet on the planet - otherwise they could never obtain such pearls of intelligence as pinpointing Snowden on Evo's plane." Continue reading →

Continue ReadingPepe Escobar: Towards a Snowden endgame

Chinese Gold Rush Underway

"This featured chart depicts the explosion in Chinese gold imports from Hong Kong since January 2012, during which China imported an astonishing 1,206 tonnes of gold – 20% more than the nation's latest official gold holdings of 1,054 tonnes. In the first quarter of 2013 alone, China imported 372 tonnes from Hong Kong, or nearly what was imported through the entire first half of 2012." Continue reading →

Continue ReadingChinese Gold Rush Underway

China Now General Motors’ Biggest Market

"GM and its Chinese joint venture partners saw sales surge by 10.6 percent during the first half of 2013, to nearly 1.6 million vehicles, an all-time record that positions it as the booming Asian nation's No. 2 automotive manufacturer. It sold just over 1.4 million vehicles in the U.S. during the same period. GM isn't the only American maker outpacing the growth of the overall Chinese market. Rival Ford set its own record for the first half, with sales surging 47 percent there and demand up 44 percent in June. While several makers have yet to report their final numbers, it appears that the two American makers significantly outperformed the overall Chinese market." Continue reading →

Continue ReadingChina Now General Motors’ Biggest Market