HANGZHOU – Two brothers and their father were sentenced to death on Monday for cheating 15,000 investors out of over $1.1 billion in east China’s Zhejiang province. Ji Wenhua, president of the Yintai Real Estate and Investment Group, was sentenced to death for the crime
Dan Collins CMR “Gold going to $7,000”, an article today in the Chinese media is going viral and one of the most viewed articles in the financial press. The article references American Jim Rickards and his concept of comparing inflation-adjusted gold prices. Most Chinese economists
Dan Collins CMR When I moved to China back in 1998 I was surprised to learn how highly the Chinese thought of America. Of course China was a much poorer place back then but coming from the Detroit area I couldn’t fathom where was all
It’s not uncommon for the large Wall Street banks to combine in shorting an entire years supply of minded silver in a single day.The same goes for all commodities. Endless paper printing getting funneled to Wall Street has destroyed all real price discovery. Capitalism fails
You have to laugh at the whole “China will collapse crowd” on CNBC and even respected sites like Zero Hedge. Personally, I love the Zerohedge stuff. They understand the ponzi-financial fraud-money printing-welfare state economy that now envelops the West. But China is a real economy,
Chanos is back! His short China thesis is very long in the tooth but as it goes with most ego maniacs he cannot accept failure or that fact that he might be wrong. Being wrong on an entire country where you have never visited and
Stockswatch China has become a banking powerhouse. Four of the five largest banks in the world are Chinese, according to SNL Financial’s latest global bank rankings. It’s a big change from the past few years when only two Chinese banks made the top five. Beijing-based
Breaking News today that a Chinese vessel as rammed and sunk a Vietnamese fishing boat. All countries in the South China Sea and East China Sea are using fishing boats in a game of cat-and-mouse to challenge each other on their respective areas. This time
Scared of losing the Chinese tourist dollar, France has relented to China and will allow Chinese police on the streets of Paris. More signs of the benefits of third-world immigration into the West to the point where cultural breakdown has occurred and law and order
D.Collins CMR China’s cloud computing market is expected to be worth 37.2 billion yuan (US$6 billion) in 2017 as demand for the service grows, the Chinese-language China Securities Journal reported on Friday. Some American tech companies are watching the largest and fastest I.T. market in
Gold has been flowing East for a decade. When the West wakes up to the fact that their gold is gone, they will no longer have sound money with which to back a currency. The world has only been off a gold standard since 1971
From the China Daily… BEIJING – China will lower banks’ reserve requirement ratio (RRR) by 0.5 percentage points starting May 18, the country’s central bank announced Saturday. The cut, the second of its kind this year, will drop the RRR for the country’s large financial
One year after the launch of direct trading between the renminbi and Japanese yen, the daily trading volume between the two currencies has reached 50-100 billion Japanese yen on the Shanghai market and 15 billion yen on the Tokyo market, a combined volume double that
Japan will learn the hard way that destroying your currency is not an viable economic strategy. Shanghai Daily JAPAN posted a record 1.63 trillion yen (US$17.4 billion) trade deficit in January as rising exports trailed surging imports of crude oil and gas due to rising
Is China tweaking its numbers on GDP? Probably. For twenty years Chinese GDP roughy came in right on the governments target. This would be an almost magical performance record considering economists in the West can predict absolutely nothing. For years, China most likely lowered GDP
Rumor has it that the most probing question China had for the United States
after the Trump election was “Is he really going to cut the corporate tax.”?
China clearly, and rightly, identified the 38% corporate tax rate as the
Achilles heel of the American economy.
The world’s highest corporate tax rate, almost double the average of the
OECD competitor nations when combined with insane healthcare costs which other
countries are not burdened with has made the United States a no-go zone for
setting up business.
Multinationals avoided the country like a plague.
Sure they would have to keep warehouses open there and the HQ staff of American
multi-nationals but over the years they even started to move their HQ’s out
of the country as a paper transaction to avoid tax.
China on the other hand has for 20 years been wooing global multinationals into
its borders not only with a 0% tax scheme for 3 years, then 15% after that, but
getting access to the world’s largest market.
The market doesn’t lie. The RMB is now down for 8 sessions in a row after news
of the tax cut broke.
The government is talking up the RMB through their media outlet. The Global Times
recently quoted Lu Qianjin, a professor of international finance at Shanghai-based
Fudan University,that in the long run, the value of the yuan will be determined by
the development of China’s economy, the balance of international payments and capital
flows. And not worry about the U.S. tax rate. “All the factors affect each other,
and China has enough resources to face the related challenges,” Lu noted.
Now the areas of the country long forgotten will have a chance to rebound. Those
areas are everywhere other than the Federal government, Wall Street, Big Pharma,
and Big Healthcare.
Those burned out plants and factory towns may once again have a chance to be back
in business again.
The year 2016 saw China take a 40% market share of global e-commerce sales.
Recently for Cyber Monday, the U.S. had a record-breaking year selling
$6.59 Billion USD in a single day.
In China, however, the month previously, Alibaba and JD.Com alone combined
for $40b USD in a single sales day on the 11.11 shopping day.
China’s share of e-commerce surely looks to now exceed 50% of the global total.
How high that percentage gets is anyones guess.
Is your country a BRIC? Perhaps a member of SCO? If not, perhaps your
country is on the One-Belt One Road. If your in Eastern Europe you are
probably in the 16+ 1. What’s that you say? It is the new geopolitical
framework designed to develop closer relationships between the Middle
Kingdom and 16 nations in Central Europe.
With the U.S., EU, and Russia no longer providing a road-map on economic
or political development the countries of Central Europe are looking at
a new super power to kickstart their economies.
Through the 16+1 China is capable to provide financing and construction
expertise on infrastructure as well as expanded two-way trade between the
regions. And in exchange the Central European countries are not even
required to absorb new populations of radical Islamists as Berlin would
have them do.
Cai Hongjian,director of the Department for European Studies of China
Institute of International Studies said “China-EU and China-CEEC cooperation
should not be demonized, because the China-EU relationship is not a zero-sum
game, and if Western scholars really care about CEEC nations, they should
learn about local people’s feelings and requests.”
Currently, the EU and the US can no longer provide help to boost CEEC
economies, said Wang Yiwei, director of the Institute of International
Affairs at the Renmin University of China.
“The US is becoming less interested in participating in European issues,
and those leading countries in the EU, in many cases, can’t even solve their
own problems. The economic situation of some Balkan countries cannot meet
the EU’s standard for member states, so they can’t join the EU. This is why
the CEEC is seeking opportunities from China,” Wang said.
China-CEEC cooperation, including the Stanari Thermal Power Plant in Bosnia
and Herzegovina, the Belgrade Danube Bridge in Serbia, and Wrocław’s flood
control facility in Poland, are just the beginning of new projects for
China is now home to 4 of the 5 largest Bitcoin mining operations and
70% of the computational power globally.
The Communist Party has recently , however, banned domestic bitcoin exchanges
and in general banned conducting digital transactions between the local currency RMB.
Of course, that does nothing to stop crypto-currency holders from holding
crypto-currencies or exchanging them in U.S. dollars which can then be
transferred into RMB.
Chinese Bitcoin miners have dominated the space thanks to low electricity prices
and low cost engineering.They have also been adapt at modifying computing systems
with access to low cost gaming chips which are efficient for bitcoin mining and
Another key advantage has been the cost of electricity. The average cost in the U.S.
for 1Kwh hr of electricity is around 10 cents. In China, the cost can be less than
1 cent depending on the deal that has been worked out with the local power company.
Many of those deals not all above board.
There are dark skies on the Horizon, however, as Bitcoin miners are actively watching
government interference into the activity. Bitcoin miners have searching out new
locations to set up Bitcoin mining operations in places with access to low cost electricity
such as Russia.
Chinese science, in particular genomics, stem cell research, and other areas are
far ahead of what the world knows. Chinese scientists have not only caught up but
are pushing the envelope in field after field of scientific endeavor.
In addition, to genomic projects which attempt to isolate the genes of people with
IQ’s over 150 in an attempt to clone smart people, the scientific community in China
seems almost willingly to try anything.
As the global tech elite have been moving considerable resources into longevity and
anti-aging by hormones, blood doping, and slowing cellular transcription, a Chinese
scientist may have come up with the answer.
Fuck it…will just sew your head onto a new body.
For all of those worried about tech replacing jobs, don’t worry. Plenty of demand
for body donors in the future.
Tencent has became the first Chinese company to be valued at more than $500 billion.
Shares of the 19-year-old company, which is listed on the Hong Kong Stock Exchange, rallied to reach HK$418.80 to give it a market cap of HK$3.99 billion which takes past the $500 billion mark. Close rival Alibaba is Asia’s second-highest-valued firm at $474 billion.
Entry to the half-a-trillion-dollar club — which includes Apple, Alphabet, Facebook, Microsoft and Amazon — comes a week after Tencent posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion) for Q3 2017. Overall profit was up 69 percent year-on-year and revenue rose by 61 percent thanks to Tencent’s games business
As SCMP pointed out, a US$9,000 investment in the company’s 2004 IPO would now be worth US$1 million.
Just looking at the last twelve months alone, Tencent’s share price has doubled thanks to impressive earnings reports like Q3.
In case your still pushing that tired meme around how the only thing
China does is export goods the truth is they can consume also. And they
like to consume big. China is an import powerhouse, and will claim the
#2 spot globally for imports.
(U.S. will always be number #1 in the category as they no longer can
produce anything with 40% corporate tax rates and a drugged out
Singles day spending was only $9 billion in 2014. We are seeing massive
growth in China in the e-commerce area. Like so many new economic trends
such as EV vehicles the true power of e-commerce is showing itself in
Kyle Bass, famed Hedge fund investor is seeing his losses pile up in his
bets against China. His commentary on China looks increasingly unhinged
without facts or reason behind them.
After becoming famous for his subprime mortgage bets his fund went on to
massively underperform the markets averaging only 1.5% over the next 8 years.
He then was on the wrong side of predicting a crash in Japan and as now moved
onto China. His fund, has now become a small shadow of its former self as
investors look for returns elsewhere.
Like a modern day Captain Ahab, the white whale in the mind of Bass was
Japan and now its China. And we all know what happened to Captain Ahab.
The whale returns to Ahab, who stabs at him again. The line loops around
Ahab’s neck, and as the stricken whale swims away, the captain is drawn with
him out of sight.
From the mobile payments markets, high-speed rail,to Quantum communication.
China now has 71 unicorns valued at over $1b each.
The writing is on the wall if your smart enough to pay attention.