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China the monster.


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Looking like crony socialism to me.


.China caves, helps out Evergrande





The Chinese government has blinked and has organised a partial bailout of stricken property giant, China Evergrande with mainland media reporting a looming $US5 billion asset sale.


The reports, in official media led by the Global Times, came hours after Evergrande shares were halted in Hong Kong with no explanation.


Mainland property group, Hopson Development also asked for its shares to be halted.


And several hours later we had the answer in the mainland media report which said Evergrande will sell a half-stake in its property management unit to Hopson Development for more than $US5 billion.


Evergrande said it requested a trading halt pending an announcement about a major transaction and Evergrande Property Services Group said the announcement constitutes “a possible general offer for shares of the company.”


China’s state owned Global Times said Hopson Development was the buyer of a 51% stake in the property unit for more than HK$40 billion ($US5.1 billion), citing unspecified other media reports. Hopson said it had suspended trading in its shares, pending an announcement related to a major acquisition of a Hong Kong-listed firm and a possible mandatory offer....

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The RBA said a failure to act quickly enough to fix the vulnerabilities in China’s financial system raised the probability that an economic or financial disruption would trigger broader turmoil





Bank of Queensland chief economist Peter Munckton said there are good reasons to think Beijing would be able to contain the problem.


“China has a closed financial system, which means there is little foreign debt. And their regulators have plenty of power to ensure there is a resolution to any problems,” Mr Munckton said.




i lean to later----that BOQ boss said.

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  • 6 months later...

Here you go, really nice things happening in Zero Tolerant China

fresh efforts to relocate entire communities in areas of Shanghai as Chinese authorities enforce extreme measures to try to stop a new wave of Covid.

An official notice from local Communist Party officials in an area in the north of the city details orders to transfer residents to quarantine facilities more than 100 miles (160km) away.

The plan is to move people from their homes in Pingwang to the neighbouring province of Zhejiang, where they will stay for at least a week. Young children, the elderly and those with disabilities could be excluded, according to the notice.

... An official notice issued to residents told them to pack their belongings and leave their wardrobe doors open. They were also told to leave open the front door of their home. Images on social media of people queuing with packed suitcases at night-time showed the scale of the operation.

The notice from the town Epidemic Prevention Office also included this order: "You cannot bring your pets with you during this evacuation, but we will arrange for them to be taken care of."

 ----  like the last examples, when some pets were clubbed to death. And I bet all of your belongings will be there when you return, too. (if you are allowed to !)

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a bit of re-examining going on?

PLA’s Evolving Outlook on Urban Warfare: Learning, Training, and Implications for Taiwan


The People’s Liberation Army (PLA) has been increasing its study, training, and preparation for future urban warfare over the past decade. The PLA has limited experience with urban warfare and so often relies on observations of other militaries to inform its outlook. Among the drivers for this interest in urban warfare is that any Chinese campaign to force “(re)unification” with Taiwan could involve intense fighting in Taiwanese cities. The current edition of the Science of Military Strategy mentions an urban offensive (城市进攻) as a component of island operations (岛上作战) but does not elaborate on the conduct of such an offensive, likely because of the sensitivity of this scenario. This campaign could present a particular challenge, given that over 90 percent of Taiwan’s population lives in cities. Beyond the possibility of invading Taiwan, the Chinese Communist Party (CCP) is also concerned about terrorist threats, whether real and imagined, within China’s cities or against the security of Chinese citizens and businesses worldwide. Meanwhile, the conduct of urban counterterrorism has become the focus of several exercises and exchanges undertaken by the PLA and the People’s Armed Police (PAP).

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  • 2 weeks later...

and a very interesting article from a resident foreigner in China

They are making a mess of it.



.... For now, China is not getting out of the corner the president has maneuvered the country into. They are prisoners of their own narrative. It is rather tragic: China was the first to get into the pandemic, and it is the last to get out. And in the meantime, they have been telling the whole world that they are the best.


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