Perhaps the status of the economy in China is even worse than many have suspected. An interesting public statement from their State Council today highlights a promise by China to support jobs during their current economic downturn.
Against the backdrop of Hong Kong’s protests toward Beijing oppression, a rebellion of the people against the command authority is the single-most feared action by those in charge of government. If the economy is in worse position than previously thought, this latest statement might explain some of Beijings’ recent trade and economic concessions.
(Reuters) – China will step up support for employment to cope with rising pressure on job security due to internal and external challenges, the cabinet said on Tuesday, as the world’s second-largest economy slows.
Simultaneous downturns in the services and manufacturing industries pose a major problem for authorities seeking to keep a lid on unemployment and prevent social unrest as economic growth decelerates to near three-decade lows.
“At present, China’s employment situation is generally stable, but risks and challenges at home and abroad are increasing and the pressure to stabilise employment is increasing,” the State Council said in a statement.
The government will attach equal importance to creating new jobs and safeguarding existing jobs, and make more effort to head off risks of unemployment, it said.
China will step up financial support for private and small firms, including implementing targeted reserve requirement cuts and encouraging banks to boost long-term loans to small firms in the manufacturing sector, the cabinet said. (read more)
There are always lags within economies based on adverse conditions. The economic landscape today is likely the surfacing of economic conditions six months ago (+/-).
It was always a question of when the devaluing of currency and over-use of state subsidies to cover financial gaps caused by the trade conflict would surface. Perhaps Beijing is responding to the beginning of those consequences?…
I think Regime Change may be POTUS’ ultimate goal. An interim goal would be the removal of Tyrant Xi and his cruel callous coterie.
That would be a nice Xmas present in 2020.
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Regime Change has never worked anywhere. Why would you think President Trump would suddenly turn to this when he knows its history and how many presidents before him engaged in this folly?
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The collapse of the Soviet Union was a good thing…..especially for Poland, Hungary, Czechoslovakia, and the rest of Eastern Europe.
That was President’s Reagan’s end goal.
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That was not a regime change. It was a flirt with a less repressive government that fell apart from being overextended. The kind of issue we could see with China, but not to be confused with regime change.
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Define regime change. The fall of the USSR , regime change, was the goal and was achieved.
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Regime change is the replacement of one undemocratic government with another undemocratic government. In other words, there is no democratic movement.
Merry Christmas to all.
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Sure felt like regime change for those living in Estonia, Latvia, Lithuania, Ukraine, and other former Soviet states
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Regime Change was the catch phrase of the Neocons and GW such as his “Compassionate Conservatism”. If China were to collapse akin to the USSR it must be driven by it’s citizenry.
The difference between China and Iraqi is that we paid for bringing freedom to Iraq in blood and toil — the freedom of the Chinese people must be earned by themselves and only by themself.
“Give me liberty or give me death” must be in their hearts for this to succeed, this makes the stakes so high so that there can be no half measures which unfortunately happened for the Iraqi people because we were guarantors of their freedom and not themselves.
Anyhow folks, Merry Christmas and a Happy New Year!
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Can you imagine all that has happened in these three years. We were going to be vassals of the all powerful Chinese Empire. And that is what all the intelligentsia and the media thought. Along comes Trump and the world is saved from those vicious unbelievably racist mobsters without firing a shot. Every day i laugh at how lucky we are.
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Every day i thank GOD for our luck.
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And we are going to provide food to the enemy. Let Emperor Xi and the Communist Dictatorship feed their own people, or buy food from other countries (which will increase the cost of food to China).
To save face, the Chicoms tariffed U.S. sourced food. Let them keep face and starve.
It is one thing to be Christian, it is quite another to be played for a fool.
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This is my judgment about being “Christian,” and how to regard other countries:
God guided the Israelites in how to establish and run Israel. Two things were to flow from that.
One, Israel was ideally supposed to establish positive international relations with other countries. Under King David and King Solomon, we see this. Bigly.
Two: other countries were supposed to see the many varied ways that Israel was a successful country, and were then supposed to be curious and inspired to follow or copy Israel’s formula. That would have been: have a God-focused nation, and to have Judges and not a Leader or Lord – other than God. Etc. [Like nowadays, we have many versions of Islam-centered countries; the plan was many OT-centered countries.]
Israel grew to be strong, and there are two types of explanations. One was that they had God’s favor and were following God. That is the big picture. The detail picture – how did this work, nuts and bolts, was: it works in a range of ways. Israel had great focus on individual/family personal responsibility. interpersonal commerce/trade/two-part legal contracting, plus tithing was a form of taxation for government that supported a religious ministry, government, and military strength.
Foreigners / sojourners were supposed to be treated well, versus as sub-human or to be exploited. They were not to be considered citizens automatically.
And, Israel was not burdened with the responsibility to guiding other countries in how to be successful; they were supposed to figure it out themselves. Israel had a mandate, and this included a specific border. There was no obligation for foreign aid or welfare for other countries.
Soon after the Israelites, under Jushua, entered the Promised Land, YES Israel DID get played-for-a-fool – the Gibeonites showed up acting all poor and pitiful. Rather than follow God’s direction, the Israelites made a treaty / vow with these deceivers. And, this was one of the many ways Israel failed to adhere to God’s direction. After the Israelites enter the Promised Land, we have a story of a nation with lots of moments of greatness but plagued by fatal flaws.
This is like us, USA/
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The Soviet Union never collapsed, rather it fundamentally changed. The same people who ran the old USSR stayed in power.
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And so many of its citizens got to return back home from occupied territories. Less territory is about changing.
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The best outcome was the creation of Christian safe havens. Poland and Hungary. Those two countries and probably more ex-Soviet block countries do not allow Muslim immigration.
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You are confusing regime change via military intervention and force with that caused by economics. The results “may” be vastly different, and the cost to us, in blood & treasure, is Zero !
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I am not confusing anything. When two thugs fight over control of the nation state, that is not regime change.
Economics is always a kitchen table issue, but to suggest it is ever a basis for “regime change” is a stretch. The hope is economics lead to a revolution, not regime change.
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Nope.
Pres Trump does NOT believe in regime change, Pres Trump believes in behavior change. C’mon Tars, you knew that.
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Like!
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Tomato/toMAto symantics.
Economis Security is National Security.
“Regime change” IS getting a change in behavior. Just the term has usually been applied to the neocon/cia State department way.
PDJT IS using the Reagan model; taking advantage of the immutable fact that Conmunism can NOT compete, economically, with Capitalism.
So, no bullets, no military or IC support for militant revolutionaries (even tho it worked out so great in Cuba/s).
Just CHALLENGE them, economically.
They can NOT compete, so they cheat.
We see it with CCP, EU and DNC.
All manifestations of Global Conmunism.
So, in the case of China, or EU we WILL get regime change, eventually. Those systems can not sustain themselves when competing in a fair, level playing field.
Likewise, the DNC is shown to be financially, policy wise, candidate wise and morally bankrupt, when forced to compete with a REAL conservative candidate (PDJT).
And all 3 ‘regimes’WILL collapse, and there will be a change in behavior, as a result.
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It usually is much better with the devil you know, than the devil you do not know.
Anyone who survives an economic collapse caused regime change and replaces Chairman XI is not going to be a friendly tolerant communist planning to implement democracy for all.
Instead they’re likely to be anti-democratic tyrants willing to sacrifice Chinese civilians for military goods.
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The CCP has never been about implementing democracy or western values. So causing disruption within the CCP is the goal. BTW I am real sorry for the economic hardships those of Russia suffered after regime change but I bet it was less than the tens of millions who died due to its Communist leadership.
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PICTURE AS IN STALIN TIMES…THEY MUST GO !!!!!!!!!!!!!!!!!!!!!!AS BERLIN WALL SAME AS EVIL EMPIRE-THEY DO NOT BELONG TO 21 CENTURY
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As a stepping stone to ideology- change. Not a perfect analogy, but Xi going down could be like Andropov before Gorbachev, the last of the old line commies, then whomever takes the reigns from xi starts the job in a weakened position, as the economy is in implosion, then we get some form of perestroika Chinese style, followed by total collapse. I’ll take it.
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If Chin would let the people have free will, they wouldn’t have to worry about their economy. People work well when they are not controlled, when they have to look over their shoulder and wondering when they are going to be taken away by the goon squad.. China should let Hong Kong alone as well, they have been a thriving community for more than 100 years….and the reason….because they were FREE.
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I wish our democrats would learn the same lesson. The world would be a lot more harmonious if the elites (everywhere) didn’t demand complete control…
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How can “our democrats” learn any lesson when the only things they are good at is to cheating, stealing, lying, and abusing our laws to achieve their main objectives: to stay in power and get rich by any means. Just look at the “our democrat” leaders (Pelosi, Schumer, Schiff, Nadler, Waters, to mention just a few, and tell me if there is anything else one can expect from them but more of the same.
The sooner a significant majority realizes that there is not redemption ability among “our democrats” the faster will the United States of America start to recover. Hopefully, starting after the November 2020 election.
.
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Failure is the goal of the dumbocRATS, they want to be more like China.
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Xi cannot afford to “let Hong Kong alone”. HK is a ticking time bomb at the heart of China, and Xi must show that it can be brought under the thumb of the CCP, without destroying its unique economic vitality. Rotsa ruck with that one.
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Something everyone dealing with China should keep in mind. HK, will be crushed….one way or another.
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“There are always lags within economies based on adverse conditions. ”
And the necessary propaganda to try to paper it over.
Who could have guessed? President Trump is a Chinese Revolutionary!
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Seems China could be preparing for another purge and snap back to the closed society of yore. They’re coming to the realization that they’re not really cut out for running a multi-culti world.
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I don’t think they can go back. To do so would result in economic conditions that would lead to revolution.
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Yes, they are responding. Tomorrow they launch another rocket.
One way to address their employment issue is to occupy a nation that owes them.
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“From each according to his ability, to each according to his needs.” – St. Karl
What’s all this nonsense about rising pressure on job security due to internal and external challenges? I thought eliminating profits and the protection of private ownership rights fixed all this. WTF? I want my Marxist egalitarianism NOW.
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Downturns in services and manufacturing will be fixed by leveraging more debt for more manufacturing?
Even this dummy can see that is not the correct reaction. China is already leveraged something like 300 to 1.
And China has no social safety nets of any kind, iirc.
That President-For-Life gig is not so good when the only way out is for you to croak it.
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What would be the reason every Chinese citizen would not like to have the freedom for opportunity and self-destiny as every American? The only reason I can think would be every Chinese citizen thinks like America’s Democrats.
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Speaking as someone who has actually been to China, with many Chinese-national friends: this is ignorant nonsense. Please refrain from posting such remarks.
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You take yourself and me way too serious.
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https://mobile.twitter.com/demosisto/status/1209453788672581632/photo/1
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Terrorist actions by the HK Police are Sad. Sick. Evil.
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HONG KONG LAW & CRIME POLITICS & PROTEST
‘We are not giving up’: Hong Kong marks Christmas Eve with mall clashes and tear gas
https://www.hongkongfp.com/2019/12/25/not-giving-hong-kong-marks-christmas-eve-mall-clashes-tear-gas/
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I know I am repeating myself, but the free people of the world should ban together to completely stop trade with china, destroy their economy, and drive the CCP from power.
Xi and the CCP are the evilmost scourge of the world. They should be destroyed before the world
ends up in WW3. This of course would release the chinese people to become part of the free world.
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They’re unlikely to abdicate voluntarily… Just ask the surviving family members of the late General Chang Chi Shek.
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I thought that Mike Bloomberg had assured us that President Xi would only do what the Chinese people wanted and needed and never dare to go contrary to Chinese public opinion. Was Mike mistaken or was he trying to protect his personal investments in China?
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If the free people of the world can’t drive the socialists from power in their own countries, how is that going to work with China? You can vote yourself into socialism, but you have to shoot your way out of it.
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gotojo, “You can vote yourself into socialism, but you have to shoot your way out of it.”
Good one!
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I’d say when they dropped $50 Trillion (US) into their Govt-owned banking system to forestall a run on their banks, that was a clue.
And when you think about it, that’s exactly 100X their former annual trade surplus ($500B) with the USA.
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Ain’t symmetry grand?
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Growth and contractions are normal in a healthy society……continual contraction shows the disease of the communistic government when their strong-arm tactics are defended against and pushed back.
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Which is also the primary reason for the construction of their modern high-speed rail system. It was to move troops quickly around their country in the event of civil insurrection (…not to transport workers from their rice fields to the Nike factory).
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Quite true, their One Road, was not a supply system, but a dispatch system.
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This needs to be watched closely because this is exactly how the Democrat guaranteed income plank, of their platform for 2020, is going to be proposed by Presidential and Congressional candidates..
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Calls for a meme of an EMPTY iron rice-bowl and chopsticks.
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Maybe the people of China are noticing, as our US lemmings need to do, that there are actually very rich elites and social stratification even in the utopia of communism.
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China is a truly ancient land, much like Russia. I do not believe that they will continue to embrace “Communism” for too much longer … and for the very same reasons that their Russian counterparts abandoned it.
“Communism …” (how do I say this nicely?) “… doesn’t work!”
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Easy for you to say. I suspect it is like the “never Trumpers, Dems and media” having to say after the Mueller Report was published, that means Trump was right all along. The Obama WH, DoJ and FBI spied on his campaign…..they simply cannot, just like the communist, ever admitting they were wrong. Hubris, arrogance and pride are powerful influences on their political bias.
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Only a departure like Ceausescu’s will be sufficiently convincing.
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Ah, some new Trump supporters!
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The Chinese Communist Party has approximately 100 million members. I wonder what impact (if any) these people will feel during a downturn?
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This is good news! I want Red China to crash and burn. I want the people rioting all over China like they do in Hong Kong. Am I being mean? Just ask those prisoner’s that are having their organs harvested by this Evil Empire. Red China- the enemy of humanity.
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Mike, you may not realize that many people in China are members of the CCP not because they have any love of Communism or Socialism, but because socially they perceive “membership” is a necessary ticket-punch to getting a decent job. (While not a direct quote, it sums up what I was told personally. I am referring to “normal” types of jobs, not Party Commisar jobs.) There are many “average” people in Russia today who are nostalgic for the Soviet Union because they saw a sense of order in their lives; the collapse of that wicked regime did not magically make everything better for them. I agree with you that CCP is utterly evil, but “crash and burn” will be devastating to the average Chinese whose only crime is being born there. Please consider how the average Chinese family (who have no quarrel with Americans) will suffer horribly if they go through social collapse. The last thing the world needs is Somalia on the scale of modern China. 😥
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Tim,you need to get on a different band wagon,the wheels are coming off yours.
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Like China stopping exports of pork and other items so that our farmers would suffer here in the States? And so that it would specifically affect Trump supporters as well since most farmers support Trump? You mean THAT China? And I am not even talking about Mao. or how many millions of their own people the Chinese government has killed in the last 70 years. Yes Tim, the wheels of your truck are coming off a bit.
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Like I said before..our VSG/ESG prefer well controlled demolition of bolshevick China…
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Cyberspace Administration of China (CAC) just published new regulations. All hail big brother👇
(Article 5) Network information content producers are encouraged to produce, copy, and distribute information containing the following:
(1) Propagating Xi Jinping’s thoughts on socialism with Chinese characteristics in the new era, comprehensively, accurately and vividly interpreting the road, theory, system, and culture of socialism with Chinese characteristics;
(2) Propagating the party’s theoretical line, policies, and major central decision-making arrangements;
(3) Show the highlights of economic and social development, reflecting the great struggle and fiery life of the people;
(4) Carry forward the core values of socialism, publicize outstanding moral culture and the spirit of the times, and fully demonstrate the upward and upward spiritual outlook of the Chinese nation;
(5) Effectively responding to social concerns, solving doubts, explaining confusion, and understanding things, which helps guide the masses to reach consensus;
(6) Contribute to improving the international influence of Chinese culture and show the world a true, solid and comprehensive China;
(In Chinese)
http://www.cac.gov.cn/2019-12/20/c_1578375159509309.htm
Note this one👇
(7) Those who undermine the country’s religious policies and promote cults and feudal superstitions;
Read this letter published in the SCMP👇
James Lee Proudfoot 😷
@PhilosophyNook
·
18h
It’s #ChristmasEve and my thoughts are with Christians in #China where the #CCP
– desecrates churches
– persecutes believers
– rewrites the Bible
– replaces images of Jesus with Xi
How many among the 100million Christians dream of a #FreeChina like us?
“ Why China under Xi Jinping will fail to shake the faith of Chinese Christians
China has rightly understood the transformative effect Christianity can have on a society
The faith has proved through history its resilience in the face of persecution and will do so again”
https://www.scmp.com/comment/letters/article/3040485/why-china-under-xi-jinping-will-fail-shake-faith-chinese-christians
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The China thing is ‘gonna blow’. Not only thanks to PDJT trade reset.
Real estate bubble worse than Japan back in the day when Japan economy collapsed —and has really never recovered. Export dependency worse than Japan back in the day. Massively inefficient SOE, which Japan did NOT have back in the day. Stealing trade secrets and IPR, which Japan did not do back in the day. (They simply reinvented/ invented alt stuff from scratch, sort of a convergent evolution technologically. My favorite example is Toyota trading to Ford the Prius hybrid technology in return for Ford’s European diesel technology, no money, even steven. We drive a Ford hybrid Escape based on that trade.) Massive China pollution, which Japan culturally never allowed. Massive China military spend burden, which Japan did not have thanks to its post WW2 pacifist constitution.
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ristvan;
Expence for internal security which exceeds national defence spending,…which Japan did not have.
Over $1 Trillion/ year to support the families of a small group of upper echelon CCP members, in extreme luxury, ….which Japan did not have.
70 years, more or less, seems to be about the maximum life span of a Conmunist regime, so far.
CCP has exceeded their “best buy”” date, and starting to stink.
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So Hunter’s 1.5 billion-dollar gig is safe?
That’s good–he’s gonna need it:
Baby mama, where you been so long?
Baby mama, where you been so long?
I’ve been hiding out, in Ukraine
Baby mama, to avoid payin’
Baby mama, where you been so long?
Standing on the corner, looking to leave
Baby, standing on the corner, looking to leave,
Baby, Lord have mercy, I can’t believe
I’ve got to pay so I’m going back to Kyiv
Baby mama, where you been so long?
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Mr. Smart Guy will eventually learn what the phrase “cheap Chinese lithium ion battery” means when a bunch of his pricey autonomous cars start blowing up while charging.
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A little bit of capitalisim goes a long way. Not sure China can keep the genie in the bottle or get him back in whichever the case.
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Xi will call up the military to rearrange deck chairs on the Titanic.
Then call on prison labor to crank out more chairs.
Commies can’t wrap their heads around supply/demand equilibrium.
Since the tariff fuss began, we are seeing a lot of consumer products from asia but not China.
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This is what my wife tells me. She says the a lot of the products that she buys that used to come from China now come from Vietnam, Mexico, India and other places.
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👇👇 interview with Mr O’Brien, the US National Security Advisor.
‘ US warns Boris Johnson over Huawei risks to UK citizens’ secrets
Trump’s national security adviser steps up pressure as UK nears decision on China’s Huawei’
(Excerpt) The White House has stepped up warnings to the UK about allowing Huawei into its 5G telecommunications networks, saying that any such move would pose a risk to MI5 and MI6, the British secret intelligence services.
Robert O’Brien, the US national security adviser, told the Financial Times that any UK government decision to allow the Chinese telecoms company to participate in the country’s ultrafast 5G networks risked giving the Chinese Communist party access to the “most intimate” details of British citizens and the ability to steal national secrets.
“They are just going to steal wholesale state secrets, whether they are the UK’s nuclear secrets or secrets from MI6 or MI5,” Mr O’Brien said in an interview. “It is somewhat shocking to us that folks in the UK would look at Huawei as some sort of a commercial decision. 5G is a national security decision.”
Washington has repeatedly urged the UK to completely ban Huawei, but the warning from Mr O’Brien raises that pressure to a new level. It comes as Prime Minister Boris Johnson prepares to decide whether to ban Huawei from the country’s 5G networks.
British security officials last year concluded that any risk from Huawei can be mitigated if it is barred from the network “core”, but US officials disagree with that assessment. Australia has also urged the UK to exclude Huawei from its 5G networks.
One reason Britain faces such pressure is because it is one of the “Five Eyes” partners — with the US, Canada, Australia and New Zealand — that share critical intelligence. The US has previously said allowing Huawei in 5G networks could limit intelligence sharing.
In a stark warning about the threat to individuals’ data, Mr O’Brien said China would be able to “micro-target” individuals to “exploit their hopes and their fears” by gaining access to personal details. US concerns about 5G had been amplified by what he said were growing Chinese efforts to obtain the genetic data of people around the world.
US security agencies have in recent years boosted their focus on Chinese investment in US biotech companies and the hacking of patient data from hospitals and laboratories.
“If you get all the information on a person and then you get their genome, and you marry those two things up, and you have an authoritarian state wielding that information, that is an incredible amount of power,” Mr O’Brien said. “Why the UK would sign up for such a programme is astonishing.”
Read more, covers many subjects.
https://www.ft.com/content/686bfaf2-25d7-11ea-9a4f-963f0ec7e134
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A2,
Can China even feed itself without import of food stuffs?
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Well they’d need to be as big as the US to do that.
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Last map I checked. China is 3.7 M^2 sq m and USA is 3.8 M^2 sq m…..the difference and the key strategic question is arable land.
BR
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Well, they also have like, 4 times the population of the US. Gotta factor that in too.
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Simple answer, no.
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even IF they eat grass, seaweed and dirt?
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NO
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No! And they aren’t even close to self sufficient in Petroleum products either.
What I don’t get is that they could be self sufficient in coal. They have massive deposits very close to the surface in Mongolia they could develop and other huge deep deposits elsewhere but have not worked much to develop them or the infrastructure for transport. Instead they are the single largest consumer of Australian coal. Coal is by far Australia’s largest export and China it’s greatest consumer. Remember that the next time you hear the Australian government claiming they have the smallest carbon footprint of any developed nation. They export their pollution in the form of coal going to Chinese coal fired power plants which use no scrubber technology or any other techniques to cut down on emissions. Strong evidence that their preaching about “catastrophic global climate change” has absolutely nothing to do with the climate.
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“genetic data” ? “genome”?
!! YIKES !!
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President Trump has no issues with regime change as long as it is organic in it’s origins and supported by the people. What he is against is the forced overthrow of foreign governments or artifical astroturf movements supported by these fraudulent NGO’S that claim to be there as a helping hand all while shorting the host sheets.
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Trump set all this in motion with his refusal to allow economic status quo.
This statement also says something else – that the Chinese have also calculated that the current likelihood that Trump is reelected requires them to dig in.
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As I said on the tariff thread. pRC did this before, not going to work a second time. So go back to 2016 and have a read.
Clear explanation even for those not interested in economics.
👇
‘ China’s success will depend Beijing’s ability to centralize power, to begin to sell off government assets, to rein in credit growth, and to accept much lower GDP growth rates.
https://carnegieendowment.org/chinafinancialmarkets/66221
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https://youtu.be/8d-hoP9M6AY This video is from Epoch Times interview concerning China & Hong Kong…..
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Trump understands the 80/20 rule:
We still produce 80% of what we need(and, are able to produce 100% if desired)
Since the ChiComms depend on EXPORTS for 80% of all they need
They steal the remaining 20% from their own people
And, from US
Stand Strong, Bernie and “the Squad” fans
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… and the Chinese people know that it didn’t used to be this way, before the Communists came to power. Eventually, those Communists are not going to be in power anymore. And, I think that they will accomplish the transition peacefully.
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The phase that I keyed on was “targeted reserve requirement cuts”. China imports about 85% of it’s oil, which they need US $$ to buy. They go through about 11mm barrels of brent / day at a current cost of 65-66 $$ per barrel. That’s 715 mm us dollars out of their economy daily. Their strategic reserves were said to be around 800 mm barrels in 2016 but you can’t get an accurate number on this because the don’t share info. Anyways if lack of energy is becoming a problem they may have to start using (or already have) their reserve energy supplies to keep things going. They can only do that for so long until they are in BIG trouble. They also got their VLCC fleets sanctioned for breaking US sanctions on imports of Iranian oil.
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A reserve requirement is a regulation that stipulates how much cash banks have to have on hand relative to the amount of money they lend. Cutting the reserve requirement is effectively like lowering the interest rate. This has nothing to do with reserves of foreign currency.
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China is the second large country to attempt Communism as a form of government. The Union of Soviet Socialist Republics ultimately broke up, rejected by its constituents including Russia herself. I don’t expect this “blip” in Chinese history to continue for too much longer. You really can’t govern a region as vast and diverse as China using central planning and a government which rules by dictating to the people instead of listening to them.
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Simultaneous downturns in the services and manufacturing industries pose a major problem for authorities seeking to keep a lid on unemployment and prevent social unrest as economic growth decelerates to near three-decade lows.
Translation: POTUS Trump has the Chinese by the Short Hairs !
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