Thread: The View, from China

Originally Posted by panama hat

It is BECAUSE of the sanctions that trade rose between thee two countries, fuckwit. China buys what others won't. What is it with you and sabang not understanding the very basics of economics time and time again?

Utter moron.

Do you really expect the clueless brothers to have an opinion on anything that didn't come by direct post from the politburo?

It is BECAUSE of the sanctions that Russia's balance of trade surplus is it's highest ever! That joke sure backfired.

Originally Posted by Hugh Cow

didn't come by direct post from

This thread is called: The View, from China

If you wish to read a thread, titled: (The View, from China)The View, of China, From Foreign Sources

I suggest you start one, this thread initiator may have a different position.

Regarding this thread's contents.

I suggest that the Chinese diplomatic news, from China, is best found from the official source: The Chinese Foreign Ministry, rather than an opinion proffered by another less qualified/knowlwdgable person.

There is always the Chinese media outlets where their own views "from China" are expressed as well.

I have seen videos of portions of the daily reports on youtube, if that is your preference.

Christ the chinkies are snivelling about the nips now?

Do they EVER stop whining?

Yep, still whining about the nips.

I wonder when it's Thailand's turn?

^ Yuck. Can you imagine? Every one of those kids has peed in that pool. Just a big puddle of piss!

Why chinkystan is having to bail out property developers.

China property crisis: Why homeowners stopped paying their mortgages

"Construction stops, mortgage stops. Deliver homes and get repaid!"

That was one of the chants disgruntled apartment buyers in China used at a protest in June. But their ire over unfinished homes didn't stop at signs and chants.

Hundreds of them stopped paying their mortgages - a radical step for China, where dissent is not tolerated.

A young couple who moved to Zhengzhou in central China told the BBC that after receiving the down payment last year, the developer withdrew from the project and construction stalled.

"I have imagined countless times the joy of living in a new home, but now it all feels ridiculous," the woman, who did not wish to be named, said.

A woman in her late 20s who also bought a home in Zhengzhou told the BBC that she too is ready to stop paying her mortgage: "After the project is fully resumed, I'll continue paying."

Many of them can pay but are choosing not to, unlike the US subprime mortgage crisis in 2007 when money was lent to high-risk borrowers who then defaulted.

They have purchased homes in roughly 320 projects around the country, according to a crowd-sourced estimate on Github where homeowners have been posting about their decision. But it's unclear how many actually stopped paying.

The boycotted loans could total $145bn (£120bn), S&P Global ratings estimates. Other analysts say it could be even higher.

The revolt has rattled authorities, focusing attention on a market already under pressure from a slowing economy and a serious cash crunch.

More alarmingly, it has signalled a lack of confidence in one of the main pillars of the world's second largest economy.

"Mortgage boycotts, driven by deteriorating sentiment toward property, are... a very serious threat to the financial position of the sector," think tank Oxford Economics said in a recent note.

China's property sector makes up a third of its economic output. That includes houses, rental and brokering services; industries producing white goods that go into apartments; and construction materials.

But China's economy has been slowing - in the last quarter it grew by just 0.4% compared to the previous year. Some economists don't expect any growth this year.

That's largely because of Beijing's zero-Covid strategy - repeated lockdowns and continued restrictions have affected incomes and, in turn, savings and investments.

The size of China's economy means that disruption in a crucial market - like property - can affect the global financial system.

Experts believe contagion is the concern now - banks won't lend if they believe the sector is tanking.

"It will all depend on policy," says Ding Shuang, head of Greater China economic research at Standard Chartered. "Unlike in other parts of the world where property bubbles break because of the markets, this is government-inflicted."

Thirty real estate companies have already missed foreign debt payments. Evergrande, which defaulted last year on its $300bn debt, is the most high-profile casualty. S&P has warned that if sales do not pick up, more companies could follow suit.

Demand for homes is also not rising as China undergoes a demographic change with urbanisation and population growth slowing.

"The fundamental issue is that we have reached a turning point in the housing market in China," says Julian Evans-Pritchard, a senior China economist at Capital Economics.

Real estate accounts for about 70% of personal wealth in China - and home buyers often pay upfront for unfinished projects.

These "pre-sales" make up 70%-80% of new home sales in China, Mr Evans-Pritchard said, adding that developers need that money because they use it to fund several projects at once.

But many young and middle class Chinese are no longer investing in property, likely because of a weak economy, job losses and pay cuts - and now the fear that developers might not complete projects.

"That's part of the problem - developers were counting on new money coming in, and those new sales are not happening anymore," Mr Evans-Pritchard said.

More than $220bn worth of loans could be tied to unfinished projects, according to banking group ANZ. And credit - a major source of cash in the boom years - has also dried up.

In 2020, China's government introduced the "three red lines" - accounting measures to limit how much developers could borrow. That cut off funding, and the subsequent lack of confidence in the market has also affected banks' willingness to lend to property companies.

For one, Beijing is putting the onus on local governments - they're offering reduced deposits, tax rebates and cash subsidies to home buyers, and relief funds to developers. But this comes at a cost because local coffers will take a hit as property developers buy less land.

"I think this is the moment for the central government and regulators to step in," Mr Ding said. "At some point it will step in to ring-fence the problem of some companies. The sector is too important for the economy."


The Financial Times recently reported that China issued $148bn in loans to help property developers, and Bloomberg reported that mortgage holders may be given a payment holiday without it affecting their credit score.

But in a recent note, Oxford Economics said any government intervention in real estate and infrastructure may provide a short-term boost but that "it is not ideal for China's longer-term growth as the government and the financial sector are being forced to help sustain an unproductive (and failing) real estate industry".

This is also not just a financial crisis. The boycott of mortgages risks becoming a serious social issue, Mr Ding said.

And that could become a problem for President Xi Jinping ahead of a crucial party congress later this year where he is expected to seek a historic third term.

Analysts say the reported bailout - $148bn - may not be enough. Capital Economics estimates companies need $444bn just to complete halted projects.

It's also not clear whether banks - especially smaller rural ones - can absorb the cost of the mortgage strike.

Even if construction restarts, many developers may not survive because house sales are unlikely to shore up sentiment. Sales in China's 100 top developers dropped by 39.7% in July compared to the same period last year, according to China Real Estate Information Corp (CRIC).

This crisis is the clearest indication yet that China's economy is at a crossroads.

"The government is trying its best to find new sources of growth but that's going to be challenging because the economy has been very reliant on property, infrastructure investment and exports over the last three decades," Mr Evans-Pritchard said.

"The era of very rapid growth in China is probably now over... and that's most obvious in the property sector at the moment."

China property crisis: Why homeowners stopped paying their mortgages - BBC News

It's a shrew! So is my MiL. Will keep a decent social distance away. 12k miles.

^ Saw one of those tree shrews in the yard just yesterday.

Originally Posted by misskit

^ Saw one of those tree shrews in the yard just yesterday.

But you probably resisted the temptation to eat it.

Full Text: The Taiwan Question and China's Reunification in the New Era


国务院新闻办公室网站　www.scio.gov.cn　　 2022-08-10　　 来源：国新网

• 
  字大
• 
  字小

　　
The Taiwan Affairs Office of the State Council and the State Council Information Office of the People's Republic of China published a white paper titled "The Taiwan Question and China's Reunification in the New Era" on Wednesday.
The following is the full text of the white paper:

The Taiwan Question and China's Reunification in the New Era
The People's Republic of ChinaThe Taiwan Affairs Office of the State Council and The State Council Information Office
August 2022

Contents

Preamble

I. Taiwan Is Part of China - This Is an Indisputable Fact

II. Resolute Efforts of the CPC to Realize China's Complete Reunification

III. China's Complete Reunification Is a Process That Cannot Be Halted

IV. National Reunification in the New Era

V. Bright Prospects for Peaceful Reunification

Conclusion

"Over its 5,000-year history, China has created a splendid culture that has shone throughout the world from past times to present, and has made an enormous contribution to human society. After a century of suffering and hardship, the nation has overcome humiliation, emerged from backwardness, and embraced boundless development opportunities. Now, it is striding towards the goal of national rejuvenation.

Embarking on a new journey in a new era, the CPC and the Chinese government will continue to rally compatriots on both sides of the Taiwan Straits, and lead the efforts to answer the call of the times, shoulder historic responsibilities, grasp our fate and our future in our own hands, and work hard to achieve national reunification and rejuvenation.

The journey ahead cannot be all smooth sailing. However, as long as we Chinese on both sides of the Taiwan Straits devote our ingenuity and energy to the same goal, let there be no doubt - we will tolerate no foreign interference in Taiwan, we will thwart any attempt to divide our country, and we will combine as a mighty force for national reunification and rejuvenation. The historic goal of reuniting our motherland must be realized and will be realized."


Continues at :

Full Text: The Taiwan Question and China's Reunification in the New Era

Originally Posted by sabang

It is BECAUSE of the sanctions that Russia's balance of trade surplus is it's highest ever! That joke sure backfired.

You also do not understand how a trade surplus works either, do you thickko?

What a shit show.

Efforts to halt the slump in China’s housing market are gathering pace as local governments, banks, state-owned enterprises (SOEs), asset management companies, and shareholders pump money into unfinished projects and cash-strapped developers.

A meeting of the Politburo on July 28 called for action to “stabilize the real-estate market” and the use of “city-specific policies.” It also told local governments they would be responsible for ensuring the “timely delivery” of homes under construction that have already been paid for.

In Depth: Bailouts Multiply as Pressure Mounts to Stabilize China’s Housing Market - Caixin Global

Chinese anime fan claims police interrogated her for wearing a kimono

Hong Kong (CNN)A Chinese anime fan says she was detained and interrogated by police after she wore traditional Japanese dress to pose for photos in the eastern city of Suzhou, sparking heated debate on China's social media over what some see as over-the-top nationalism.


Wearing a white kimono decorated with images of red flowers and green leaves, the young woman said she was waiting in line for a snack on Wednesday evening in Huaihai street, a lively food strip popular for its Japanese bars and restaurants, when she and her photographer were suddenly surrounded by police.


The woman, who goes by the handle "Is Shadow Not Self," posted details of the encounter on Weibo, China's Twitter-like platform, on Sunday, where a related hashtag had been viewed more than 90 million times before it was censored on Monday.

According to her post, police objected to her kimono, which she had paired with a long blond wig as cosplay of a main character in the Japanese manga series "Summer Time Rendering."


Wearing a kimono in public in China has become increasingly controversial in recent years amid a rise in nationalism and anti-Japanese sentiment. Rooted in Japan's brutal invasion of China during World War II, Chinese public sentiment against Japan has waxed and waned -- often tied to China's domestic politics and the state of bilateral ties.


But as Chinese nationalism turns more aggressive and intolerant under the leadership of Xi Jinping, fans of Japanese culture -- which had previously been popular among China's youth -- have faced growing criticism and suspicion.


'Are you Chinese?'


In a video the anime fan posted on Weibo, purportedly showing part of her encounter with police, the woman can be heard explaining to an officer that she was doing a photo shoot.


"If you come here wearing Hanfu, I wouldn't say this. But you are wearing a kimono, as a Chinese. You are a Chinese! Are you?" the police officer shouts at her in reply.

Hanfu is a blanket term for the ancient clothing worn traditionally by ethnic-majority Han Chinese before the Qing Dynasty. It has surged in popularity in recent years amid Xi's promotion of traditional culture.

The woman then calmly asked on what grounds she was being yelled at.


"On suspicion of picking quarrels and provoking trouble," the police said, referring to a catch-all charge often used against dissidents, journalists, human rights lawyers and activists.


The woman was then grabbed and escorted away by several police officers in a chaotic end to the video, which has been viewed more than 8 million times as of Monday afternoon.


The woman said in the Weibo post she was interrogated at the police station for about five hours until 1 a.m., during which she said her phone was searched, her photos deleted, and her kimono confiscated. She said she was also "educated" and warned by the police not to talk about her experience on the internet.


CNN cannot independently verify the woman's post and the video, though two shopfronts seen in the video matched the ones on Huaihai street. fCNN attempted to contact police at Shishan station near Huaihai street, but a staff member who picked up the phone said he didn't "know much of the situation."


The woman did not respond to CNN's attempt to reach her via Weibo.

Chinese anime fan claims police interrogated her for wearing a kimono - CNN

I wouldn't recommend turning up to a bar mitzvah in Nazi regalia, either.

Originally Posted by sabang

I wouldn't recommend turning up to a bar mitzvah in Nazi regalia, either.

I wouldn't recommend listening to a xenophobic dictator either, but it doesn't appear to stop you.

as Chinese nationalism turns more aggressive and intolerant under the leadership of Xi Jinping

Originally Posted by sabang

I wouldn't recommend turning up to a bar mitzvah in Nazi regalia, either.

El Desperado is playing the religion card again.

Originally Posted by panama hat

He doesn't . . . next he'll be wondering why increased trade with Russia has resulted in a change in the surplus.

I already proved many months ago that he has no clue about it.
He's just a little old man on his daily rant trip.

Your world is such a threatening place, isn't it? But mine is rather nice.

Bill Lee, Chief Economist at the Milken Institute discusses the latest economic data out of China and the slow down the country is facing.

China is having great sex ... it's FUCKED

More great sex

Oh, China is doomed #1001. Suggest you look closer to home, at least culturally.