Tag Archives: 中国

Daily Headline – 08/04/13

Is China lined up for economic collapse?

Chinese finance flagAs the developed world is still suffering from the 2007 global economic crisis with austerity the weapon of choice by the ruling elite around the world is China, who though has not been immune to the global effects as demand for Chinese manufacturing declined slightly as belts were tightened, lining itself up for the same?

Chinese banks have long been ‘cooking the books’ and it’s getting worse, credit for loans is available to those with bad credit on an unprecedented scale in China. Just the same as was in the US that kicked off the global recession.

The problem is not just how much risk there is in the Chinese banking sector but ‘risky loans’ being shifted to the lightly regulated ‘shadow banking’ institutions – mainly trust companies, brokerages and insurance companies.

According to Reuters:
Trust assets increased 55 percent in 2012 to 7.5 trillion yuan ($1.21 trillion), according to the China Trustee Association, while funds entrusted to brokerages by banks soared more than fivefold to 1.61 trillion yuan.

Capitalism doesn’t work, western capitalism or Chinese capitalism, it doesn’t matter. Banking, finance and ‘the markets’ are always a catastrophe waiting to happen.

Daily Headline – 06/04/13

Korean peninsula update

Korean WarThe Korean peninsula still dominates the global media in a one-sided look at the issue, the evil North Korea against the innocent US/South Korea. It’s almost as ridiculous as North Korea’s propaganda!

In the latest developments North Korea has told the embassies in Pyongyang that, in the event of war, it cannot guarantee their safety and that they should strongly consider evacuating the country, it has asked to be notified whether they are staying or going by the 10th April.
The US has moved missile defence systems to new locations including Guam and in a statement said that is is ready for any eventuality.

North Korea is guilty of lacking democracy, incompetent management, developing nuclear technology and a space program and as such pretty much just has China as a trading partner with sanctions coming from all corners of the globe. The US has a nuclear program, has used nuclear weapons against civilians and has a phoney two-party state ‘democracy’.
If you box someone into a corner, the only rational response is to lash out, from a caged animal to a country.

North Korea shouldn’t have nuclear weapons but should it be under such economic sanctions?
Are North Koreans actions and words justified? Have you ever thought about understanding the situation from their perspective?

No war, no nuclear weapons, it is the innocent, the working class who suffer.