China news roundup / Nachrichten 2024-07-25

about 1 month ago

China cuts 1-year benchmark rate and doubles subsidies for EVs in its 'cash for clunkers' program

"The People’s Bank of China said it cut its lending rate for one-year medium term policy loans by 20 basis points to 2.3%. That is the biggest rate cut since the world's second-largest economy was slammed by the COVID-19 pandemic in 2020."

--- Wow! 0.2 percentage points this time, unlike the 0.1 a few days ago for other rates.
Won't do much, either, though.

"But while lower deposit rates may be good for the bank's balance sheets they won't encourage more consumer spending"

--- Yep.

China and Russia stage first joint bomber patrol near Alaska

"The two countries have carried out several joint patrols in the past, and Russia regularly flies its bombers over the Bering Sea.
But Wednesday’s joint patrol was the first that brought together bombers from both countries in the north Pacific area.
Moscow and Beijing said it was "not aimed at any third party""

--- Yeah, they just coincidentally entered a US ADIZ.

"the US-Canadian North American Aerospace Defense Command (NORAD) said the bombers, which it intercepted, stayed in international airspace and were “not seen as a threat”"

--- That's the proper reaction, though. It is not that big a deal, after all. But sadly, in US politics, you also have quite a number of morons:

"Alaska Senator Lisa Murkowski described the event as an “unprecedented provocation by our adversaries”"

--- That's bullshit you would expect from the CCP, but not from the USA.

Xi Jinping 'sharing out' political power among rival allies

"The move indicates a more important role for Wang, the architect of Xi's personal brand of ideology, Xi Jinping Thought, who previously headed the party's United Front outreach and influence arm.
It likely means that that the government's economic policies will likely be long on spin and short on substance, while continuing Xi's insistence on top-down economic planning that owes more to Marxist economics than to the economic reform era begun by late supreme leader Deng Xiaoping"

--- So, nothing much changes.

Don't break law and you have nothing to fear, China tells Taiwan staff of multinational firms

""The majority of Taiwan compatriots, including Taiwanese employees working in multinational companies, can be completely at ease in the mainland, as long as they do not engage in criminal acts,""

--- Translation: 'Don't worry! We will only kill you if we don't like your political opinions.'

Glitzy Shanghai mall closes, leaving US visa office sole occupants

"A resident of Shanghai who gave only the surname Hu for fear of reprisals said businesses are closing down all over the city, citing a recent trip to a building at the intersection of Nanjing Road and Tibet Road, where he said some two thirds of the restaurants had shut down.
"Nanjing Road is the top shopping street in the whole of China, maybe first or second in the whole of Asia,""

--- Nanjing Lu is the most famous shopping street in China. If it's going badly there, you can imagine how the situation is elsewhere. But - hey! - there is no recession in China.

Amid tensions with China, some US states are purging Chinese companies from their investments

China issues rare praise to Philippine president for his ban on Chinese online gambling operators

--- Global News: "US, Canada fighter jets intercept Russian and Chinese bombers near Alaska"

Russische und chinesische Bomber vor Alaska

" Vor der Küste Alaskas sind zwei russische und zwei chinesische Flugzeuge bei einer gemeinsamen Patrouille entdeckt worden. Daraufhin seien Kampfflugzeuge der USA und Kanadas aufgestiegen, teilte deren gemeinsame Luftraumüberwachung Norad mit.
Die Aktion mit Maschinen des Typs Tu-95 MS beziehungsweise Xian H-6 sei nicht als Bedrohung wahrgenommen worden, hieß es weiter."

--- Vernünftige Reaktion. Ganz anders als die chinesische Hysterie, wenn sowas in der Nähe Chinas passiert. Leider gibt es da aber eine US-Senatorin, die auf KPCh-Art reagierte & von einer Provokation sprach. Hirnrissig.

"China und Russland betonten, die Patrouille habe sich nicht "gegen Dritte" gerichtet. Sie habe "nichts mit der aktuellen internationalen Lage zu tun""

--- Klar doch. Reiner Zufall, daß die in eine US-Luftverteidigungszone flogen.

Vor Olympia in Paris: WADA wegen Fall China in Bedrängnis

""Es gab keine weiteren Elemente, die auf ein anderes Szenario als Kontamination hinweisen", sagte Generaldirektor Olivier Niggli während einer internationalen Pressekonferenz in Paris, auf der die WADA-Spitze mitunter sehr kritisch angegangen wurde.
[...] Vor Kurzem hatte sie zudem weitere potenzielle Beweise - Social Media Posts und Chats aus China - vorgelegt, die die Entlastungstheorie der CHINADA erheblich erschüttern."

--- Man will China halt nicht verärgern, gelle?