While the Chinese Dream is ideal and serene, the Chinese Reality has the potential to be a nightmare. Recently, China experienced the embarrassment of its first junk bond default, which came on the heels of its first corporate bond default. In the coming months, a slew of Chinese bank trust products [...]
The trade pact: Why not?
Contrary to President Ma’s claim that his pro-China policy and 19 specific agreements to liberalize trade and investment with China would help boost Taiwan’s economy, in reality Taiwan’s overall economy has fared poorly. True, not a few big businesses have benefited considerably from the opening of the cross-strait economic engagement, [...]
To some observers, particularly fans of Hyman Minsky, the late Keynesian economist, it looks suspiciously like China may be approaching a Minsky moment—that dreadful instant at which most of the participants in the boom recognize that the game is up, credit stops flowing, one or more financial institutions moves to the verge of [...]
Chinese authorities have seized assets worth at least 90bn yuan ($US14.5bn) from family members and associates of retired domestic security chief Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, two sources said.
More than 300 of Zhou’s relatives, political allies, proteges and staff have also been [...]
Since the next few years are crunch time for the Chinese economy, the Chinese question is now sharply posed. It is no longer: could evolutionary political reform, gradually increasing transparency, constitutional-type balances, freedom of expression and civil society dynamism be used to complement and reinforce economic reform? Rather it is: can a reinvigorated party-state, harnessing [...]
Instead, China is seeking to avoid international law altogether by strengthening effective control and changing the status quo little by little. Eventually Beijing expects that fellow claimants will be forced to accept the reality of Chinese control. Until then, the international community’s railing against the illegality of China’s claims will have little effect. As long [...]
With over $500 billion of debt from overleveraged Chinese local governments and companies coming due to lenders outside the formal banking sector later this year, China is bracing for a wave of credit defaults. It is coming at a bad time for the world’s second-largest economy, which is also experiencing a marked slowdown in economic [...]
The study concludes that in the decade ahead China will employ unconventional warfare techniques on issues ranging from the Senkaku Islands dispute in northeast Asia to the disputed Paracels in the South China Sea.
For the United States, the Three Warfares seek to curtail U.S. power projection in Asia that is needed to support allies, [...]
China for the first time will likely have subs equipped with long-range nuclear missiles later this year, part of an increasingly potent submarine fleet, a top US officer said Tuesday,
The head of US Pacific Command, Admiral Samuel Locklear, said the latest class of Chinese subs would be armed with a new ballistic missile with [...]
The most important take-away from this article is that it exists at all. Why are they writing about the possibility of war with China? China keeps telling us that its rise is peaceful. Has something changed?
Indeed something has changed. It appears that China’s peaceful rise is at an end. It’s at a turning point, [...]