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China the monster.
mullokintyre
post Posted: Nov 27 2020, 12:42 PM
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So for how long do we in OZ put up with the blatant screwing by the CCP.
According to The Australian
QUOTE
The Australian coal flotilla stuck off the Chinese coast has swollen to more than 80 ships carrying blacklisted cargo worth more than $1.1bn, prompting the ­Morrison government to raise concerns about “discriminatory action”.

The Australian can also reveal coal exports to China have plunged by 96 per cent in the first three weeks of November, as a go-slow by Chinese officials crunches the nation’s second biggest export industry.

Trade Minister Simon Birmingham said reports of the growing delays had raised the government’s concerns about the trade practices China was deploying. “We are working closely with the industry as well as seeking assurances and clarity from Chinese authorities that this is not discriminatory action against Australian coal,” he said.

“We reiterate that all terms of our free-trade agreement and world trade obligations between Australia and China should be upheld and respected.”

The widening coal halt comes at a difficult time for the Morrison government, which is ­attempting to reduce tensions with its biggest trading partner after a seven-month spat.

Coal was the biggest export industry on a list of seven Australian products Chinese state media reported were banned in early November. There are now 82 coal vessels carrying 8.8 million tonnes of coal worth an estimated $1.1bn stuck off China, four times the number of ships known to be stranded just two weeks ago, according to industry sources. Up to 1500 seafarers are stranded on the vessels.


And now on ABC NEWS
QUOTE
The Chinese Government has announced it will place tariffs on all Australian wine imports from tomorrow, striking a blow to the multi-billion-dollar industry.

It follows the preliminary findings of a Chinese anti-dumping investigation into Australia's wine exports that found that dumping exists and caused Chinese winemakers "substantial harm".

China has accused Australian producers of selling wine for below the cost of production.

The tariff announcement comes amid souring trading relations that have seen China impose import tariffs on Australian beef and barley.

China is fast becoming public enemy number one.
They sent us covid and blame us for demanding an enquiry as to how the world got infected by the Chinese Virus.
Its only a matter of time before the bastards start putting tariffs on Iron ore as well.
I am sure Vale will be pretty happy about that.

We may as well start selling Iron Ore to Taiwan, Korea, India, and any other country that makes steel.
AUD will start to come under enormous pressure as the rest of the world comes to the realisation that our biggest trading partner by far is slowly screwing us.
Farewell lucky country.
Mick




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mullokintyre
post Posted: Nov 23 2020, 01:09 PM
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It seems that not even China is exempt from financial problems when banks are allowed to do things free of any proper oversight.
from Caixin
QUOTE
The wave of financial distress flooding China’s corporate sector, which has seen a furious selloff in bonds following the unexpected default of several state-owned enterprises, is spilling over into a key financing conduit used by China's giant shadow banking sector — the trust industry.

As Caixin reports, Huaxin Trust Co. one of 68 companies licensed to conduct trust business in China and one of the largest "shadow banks" in the mainland , is trying to raise as much as 6.8 billion yuan ($1 billion) from strategic investors as it faces a growing liquidity squeeze that’s already forced it to skip repayments on dozens of investment products over the past few months.

The Dalian, Liaoning province-based institution announced last Tuesday that it is seeking one or more strategic investors to inject 3.4 billion yuan to 6.8 billion yuan into the firm, which would increase its registered capital to 10 billion yuan to 13.4 billion yuan.

But, as Caixin's Timmy Shen writes, what drew the market’s attention was a condition stipulated by Huaxin that any investor would need to agree to "support the company’s liquidity before the completion of their investment to allow the firm to protect the interests of investors in its trust products." And while this is tantamount to a pledge to backstop a bailout of the core shadow banking pillar, one veteran trust-industry source told Caixin that it can be difficult to persuade strategic investors to provide liquidity support before even making their investment, although investors can use this as leverage to get better terms


From Zero hedge

QUOTE
Even before the current episode of corporate bond turmoil triggered by the sudden defaults of state owned Yongcheng Coal and Brilliance Auto, China’s regulators had already become increasingly concerned about the hidden risks in the trust sector which plays an key role in the shadow banking sector by providing loans to higher-risk companies and those who have difficulty getting credit from traditional banks. The loans are packaged into high-yielding products which are then sold to retail investors and institutions.

For half a year, China's Banking and Insurance Regulatory Commission (CBIRC) has been preparing regulations to put the country’s $3.1 trillion trust industry under closer oversight. The draft rules, which were put out for public comment in May, will govern how trust companies manage client funds, clarify requirements on trust products and toughen regulation of their loan-related investments.

Then in June, as part of a wave of wholesale systemic deleveraging which hammered such real-estate development firms as China Evergrande and nearly brought it to the edge of insolvency, the CBIRC told some trust firms to downsize their trust financing business according to tailored specifications provided by the regulator. The unofficial orders from the regulator followed a surge in demand for loans as companies scrambled for cash to help them weather the impact of the Covid-19 outbreak or to repay maturing loans. We detailed China's regulatory push to limit debt in October in "China Crackdown On Property Developer Debt Sparks Fears About Systemic Crisis" when we laid out the new "Three red lines" policy espoused by Beijing limiting the amount of new debt issuance.
In short, Huaxin Trust is the latest trust firm and "shadow bank" to run into trouble in a sector already reeling from the effects of a crackdown on shadow banking and an economic slowdown exacerbated by the coronavirus pandemic. Among them are Sichuan Trust Co. which has failed to repay investors more than 20 billion yuan, and Shanghai-listed Anxin Trust Co. once the darling of the trust sector, which collapsed last year and was found to have a "modest" 50 billion yuan black hole on its books.
The total assets in China's shadow bank sector have shrunk consistently since peaking in early 2018 as Beijing focused on aggressively limiting the amount of high-yielding debt issued by the sector.
However, with tens of trillions in yuan-denominated debt still outstanding within this loosely regulated offshoot of China's financial system, which still represents a last-ditch option for liquidity-challenged companies, as China's economy continues to shrink from the consequences of the pandemic regardless of the rosy and goalseeked data that Beijing is publishing on a monthly basis to convince the world - and China's massive depositor base - that all is well, we expect after the initial round of early tremors to hit China's trust companies such as Huaxin, the real shock to China's financial system is yet to come.


Hmm, shadow banking. It seems wherever the word is used there will be trouble forthcoming.
Mick



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early birds
post Posted: Nov 17 2020, 11:28 AM
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In Reply To: mullokintyre's post @ Nov 17 2020, 10:52 AM

that is what i worried about

i reckon USA will involve it in some way, but if USA not going to "all in" it's hard to see USA wonna won the war.
because it's just too close to land----and china had a lot of land to sea ballistic missiles. plus----for American: " let the chinks kill chinks why should we make huge effort"
if the shit happens , good for no one. i don't have religions but i pry the shit not gonna happen sadsmiley02.gif

as i said before " don't stand at front when they try to corner a animal that with really sharp claws and teeth".

if that happens gold and silver gonna sky rocketing! imho



 
mullokintyre
post Posted: Nov 17 2020, 10:52 AM
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From Global Times
QUOTE
The Chinese mainland is formulating a blacklist of "stubborn Taiwan secessionists," Hong Kong-based newspaper Ta Kung Pao reported on Sunday.

For the "stubborn secessionists" and their funders, the mainland will take strict measures to bring them to justice in accordance with the Anti-Secession Law, the Criminal Law and the National Security Law. They will be held accountable for life. We highly support the formulation of the list.

Taiwan secessionist forces have become increasingly rampant in the past few years. They have continuously incited populist sentiments and colluded with external forces to step up promoting Taiwan secession. Some forces even tried to manipulate a "constitutional amendment," "constitution" and "referendum" in an attempt to promote the "legal basis for Taiwan independence." All these have become a blatant challenge to the mainland's bottom line of safeguarding national sovereignty and territorial integrity.

Formulating the blacklist is an important move to combat and contain Taiwan secessionist forces, and a clear declaration that the mainland will never tolerate secession. The world has long known the egregious acts of Su Tseng-chang and his like. Their recent trick of a "constitutional amendment" to seek "independence" has been seen through. The list is a solemn warning to stubborn Taiwan secessionists and their funders.

In addition to the Anti-Secession Law, the Criminal Law and the National Security Law also contain clauses about the crime of secession. These "stubborn Taiwan secessionists" are now at the very frontline to commit this serious crime. The blacklist would be a huge deterrent to this group; it is by no means an empty threat. In particular, these Taiwan secessionists will be held accountable for the rest of their lives under the laws, which means they cannot find a permanent shield for their crime, with the nightmare of being punished chasing them their whole life.

Those on the list will be punished in accordance with the laws and may face criminal prosecution. That means they will no longer be able to set foot in Hong Kong, Macao and the Chinese mainland, and it will also be very dangerous for them to travel to other countries and regions. In short, this list will be a sword of Damocles hanging over their heads for a long time to come, and they will never know when it will come down.

The Taiwan secessionists and their sponsors and other major supporters should not take any chances, thinking that they will be able to do whatever they want across the Taiwan Straits with the protection of some countries. But looking ahead, the Straits is very shallow that could not stop the righteous punishment from the mainland. Their fate is full of uncertainty. As the saying goes, "Today you are having fun, but tomorrow you might be done."


The CCp is going to launch an attack on Taowan at some time.
The big question is when.
The next question is, will any other regimes come to Taiwan's aid?
I don't think so.
We can only hope we don't caught in the crossfire and become collateral damage.
Mick



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mullokintyre
post Posted: Nov 6 2020, 08:35 PM
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And you can add South America to the list of areas a little annoyed with the tactics of China,
From SCMP

QUOTE
Chile, Colombia, Ecuador and Peru threatened measures ‘to prevent, discourage and jointly confront’ illegal fishing near their exclusive zones
Beijing in early August banned its vessels from fishing near the Galapagos from September to November this year.

Four South American countries joined forces on Wednesday in a bid to combat illegal fishing by huge Chinese fleets off their coasts.
Chile, Colombia, Ecuador and Peru threatened measures “to prevent, discourage and jointly confront” illegal fishing near their exclusive economic zones in the Pacific.
The joint statement made no specific mention of China but environmental groups Greenpeace and Oceana have repeatedly warned of the growing presence of massive Chinese fishing fleets in the area.
The South American quartet said they would boost “cooperation and real-time exchange of information” to highlight illegal fishing off their coasts.

Ecuador in July complained to China over a massive 300-trawler fishing fleet off Galapagos, saying around half of them had turned off their tracking systems so they could not be located.

A Chinese ship detained off the island of San Cristobal, Galapagos Islands, Ecuador, in August 2017 over accusations of illegal fishing. Photo: EPAA Chinese ship detained off the island of San Cristobal, Galapagos Islands, Ecuador, in August 2017 over accusations of illegal fishing. Photo: EPA
A Chinese ship detained off the island of San Cristobal, Galapagos Islands, Ecuador, in August 2017 over accusations of illegal fishing. Photo: EPA
Four South American countries joined forces on Wednesday in a bid to combat illegal fishing by huge Chinese fleets off their coasts.
Chile, Colombia, Ecuador and Peru threatened measures “to prevent, discourage and jointly confront” illegal fishing near their exclusive economic zones in the Pacific.
The joint statement made no specific mention of China but environmental groups Greenpeace and Oceana have repeatedly warned of the growing presence of massive Chinese fishing fleets in the area.
The South American quartet said they would boost “cooperation and real-time exchange of information” to highlight illegal fishing off their coasts.
Ecuador in July complained to China over a massive 300-trawler fishing fleet off Galapagos, saying around half of them had turned off their tracking systems so they could not be located.
Beijing in early August banned its vessels from fishing near the Galapagos from September to November this year.

The Chinese fleet instead headed south through international waters to fish near the exclusive economic zones of Peru and Chile, according to NGO Oceana.
Oceana has accused the Chinese of “pillaging” the waters off the Galapagos, primarily for squid, thereby depriving some species in the waters of the protected archipelago – including fur seals and hammerhead sharks – of their essential diet.


China in its insatiable appetite for anything that moves, is the biggest threat to the seas ecology we have seen in decades.
but where are the greenpeacers, the planet arks, the David ttenboroughs of this world??
Not a peek.
Mick



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nipper
post Posted: Nov 5 2020, 04:43 PM
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In Reply To: henrietta's post @ Nov 5 2020, 01:35 PM

Making mischief, when attention is elsewhere, prior to election decision and before inauguration



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


henrietta
post Posted: Nov 5 2020, 01:35 PM
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In Reply To: mullokintyre's post @ Nov 5 2020, 11:12 AM

Seems like China has decided that the USA won't bother with Australia under a new administration.

Cheers
J



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mullokintyre
post Posted: Nov 5 2020, 11:12 AM
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From Todays OZ,
Chinese state media has confirmed a sweeping halt on exports from Australia worth more than 6billion a year from Friday , just days after Beijing dismissed the discriminatory ban as "rumour".
Any pretence about the actions of the CCP abiding by any rules other than ones they make up themselves is now completely gone.
We are going to have to deal with shit like this until we kowtow to the CCP.
Not a good time to be an exporter.
Bring out the appeasers,
Mick



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Mags
post Posted: Oct 28 2020, 10:53 AM
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In Reply To: nipper's post @ Oct 28 2020, 08:50 AM

What was the point of that article? All empires fail? No kidding.
What is evident, is the limp wrist, discipline that's been rammed down the throats of the west for the last 30 years has now come home to roost in the form of populations that can't think for themselves, and wont listen to the health advice of 'Stay the f apart'.
This is year 5 stuff: The corona virus can only survive where it has a viable host: Remove the host and the virus will die.
China proved this: Hell the Chinese citizens are smart enough to know hygiene and distancing: they've stopped socialising etc. They have no desire to return to the west for study etc.
Yet, even here in Australia, we have grumpy pensioners and youth, sooking and moaning that their lives are hugely impacted because they can't have their yearly overseas holiday!!!! WTF? What dream world do these people live in???
What the article gets wrong, as most people do! is that China will never be a financial power house like USA, UK or Sg. Their markets are too secret, too small and untrust worthy.
The USA financial system has many years left to run. It will endure longer than most 'analysts' predict.. although calling them analysts is a big stretch, all they are now are just clickbait/content producers.
The EU, UK and USA have two options: They either go through huge restrictions, crippling their economies further, or they ride corona out. Riding it out will take 3 or 4 years. It has not yet been 12 months, and it's the worst peace time loss of USA life in 100 years. Can they maintain order for another 3 years????????
Everything changed in 2019 when corona V2 got out. Very few accepted that, and very few still do.
Australian's are just as big a idiots: They're praising morrison for his response: which was FA, it was the states that did it: Each state looked at their health budget and KNEW there was no way they could afford 4% of infected people to be in ICU's. That' why borders are still shut, heavily monitored, and ready to be locked tight again.
Australia's luck was being an island: we controlled how much got into the country: and then how much it could get around. Lock downs are the only thing that work. 90% of people will simply never understand why: they've never seen the bouncing ball video of how virus's spread. They'd rather watch cat videos, or celebrate a 30 sec video of a dude drinking juice on a skateboard....
I smh in dis belief at what I see: but after being an investor for nearly 30 years, working in some of the most successful businesses in their sector in Aus, and running my own business for 10 years, I shouldn't be surprised: The level of intelliegence and self discipline, coupled with the idea that everyone is entitled to a cruisy, fulfilling life with a enjoyable job and work/life balance is just astounding.
It's gonna be a grind going forward for a few years: those that balance it right are going to be rich beyond their dreams: the rest are up for a dose of reality.



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nipper
post Posted: Oct 28 2020, 08:50 AM
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China's virus triumphalism could be premature

Leader cults rarely end well anywhere – and there is little reason to believe that China under Xi Jinping will ultimately be any different. Gideon Rachman

Columnist

In 2009, Martin Jacques, a British author, published a bestselling book, When China Rules the World. Mr Jacques is now running a victory lap. He recently proclaimed that we will remember 2020 as the moment of the Great Transition. The year when China replaced the US as the world's leading power. Believers in a "great transition" see COVID 19 as the handmaiden of history. The pandemic started in China. But the Chinese government has done a much better job of containing the disease than the US.


According to Johns Hopkins University, the total number of US deaths from COVID 19 stood at over 223,000 at the end of last week compared with 4379 in China. With the disease contained, the Chinese economy is rebounding and looks set to grow 2 per cent this year, making it the only G20 economy to expand. The US economy is likely to shrink by 3 to 5 per cent and the major European economies are in trouble.

China's ability to enforce quarantines and test widely is generally seen as crucial to the country's success. At a recent ceremony, handing out medals to citizens for their work on COVID 19, President Xi Jinping announced that the pandemic once again proves the supremacy of the socialist system with Chinese characteristics.

While the Chinese elite is patting itself on the back, the US establishment is aghast. The New England Journal of Medicine recently noted in an editorial that "our leaders have failed...They have taken a crisis and turned it into a tragedy.

This scathing criticism of the Trump administration has not, however, led to the arrest of the editors of the journal. By contrast, last month, Ren Zhiqiang, a property tycoon, was sentenced to 18 years in prison in China. Mr Ren's fall from grace came after he published an aggressive criticism of Xi's handling of the early stages of the pandemic, calling the Chinese leader a "bare, naked clown".

The US can get rid of Donald Trump . . . China has no mechanism to rid itself of the increasingly megalomaniacal President Xi.

Shortly afterwards, Ren was stripped of his Communist party membership and charged with corruption. Some of the doctors who first raised the alarm about COVID-19, in private exchanges, in Wuhan, were notoriously reprimanded by the police.

External critics of China's handling of COVID-19 are also treated with ferocity. When the Australian government suggested an international inquiry into the pandemic, Beijing responded with trade sanctions.

The inability to accept criticism suggests that pro Beijing triumphalism is premature. In broad terms, there is not much doubt that China, after mishandling the initial outbreak, has done a good job of containing the disease. But some Asian democracies, such as South Korea and Taiwan, have done even better, which undermines Xi's claim that China's "socialist system" was the key to success.

Chinas urge to suppress criticism also suggests that if there are continuing problems inside the country, Beijing will cover them up.

The pandemic has also significantly eroded international goodwill towards China. It may be regarded as traitorous in China to highlight the origins of the disease – or to point out that the previous SARS epidemic also originated in China. But the outside world has noticed. A recent Pew opinion survey of 14 mainly Western nations showed 61 per cent thought China had done a bad job of handling COVID-19 and that distrust of Xi has soared.

The international backlash compounds the challenges to the "China model" already created by COVID-19. For 40 years Chinese economic growth has been powered by trade. The country is the world's largest manufacturer and its largest exporter.

But COVID-19 has seen a sharp reduction in world trading volumes. This is happening at a time when the US is rallying international opposition to Beijing and curtailing trade in sensitive technologies. As a result, the permissive international environment that powered the Chinese economic miracle is disappearing.

China's leadership is meeting this week to plan for the years ahead. But its ability to openly debate these problems is hampered by the thought-stifling cult-of-personality that has built up around Xi. Since taking power in 2012, the Chinese leader has purged many of his rivals, abolished constitutional term-limits that would prevent him ruling for life, and forced the Communist party to incorporate Xi Jinping thought into its constitution.

This is no mere formality. On the contrary, government officials and even private companies are under constant pressure to praise the great leader's banal pronouncements. As a recent column for Bloomberg News pointed out, even China's weather forecasters and science fiction writers have been officially reprimanded for not doing enough to incorporate "Xi Jinping thought" into their work.

Xi admires the leader cult that surrounded Mao Zedong. But blind obedience to Mao's whims led China to disaster during his cultural revolution. Leader cults rarely end well anywhere ... and there is little reason to believe that China under Xi will ultimately be any different.

The US system has had a terrible few years and the American elite is rightly going through a period of self-doubt and introspection. But regular elections offer the possibility to change course and appoint new leaders. The US can get rid of President Donald Trump... and may be about to do so. China has no mechanism to rid itself of the increasingly megalomaniacal President Xi.

Financial Times



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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