“He who restrains his appetite avoids debt” – Chinese proverb East will never meet the West of Adam Smith. China never had a culture or tradition of respecting individual human rights. Why would anyone assume that a regime that houses worker slaves in huge chicken coops would adopt a fair trade economy? The Chinese...
China’s President Hu Jintao is visiting the United States this week. This means we can count on two things: 1) a proliferation of Hu/who jokes (think: Abbott and Costello, “Who’s on first?â€Â); and 2) disputes about the respective monetary policies of the two countries. Chinese officials gripe about the Federal Reserve’s cheap-dollar policy. American...
Pondering Whither America, I reflected on a story, probably apocryphal but which I am going to believe because I like it, about catching monkeys. Tribesmen somewhere craft a heavy pot with a hole in it large enough that a monkey could insert an open hand, but not withdraw a closed fist. They then put...
The voters who elected the new Congress expect it to cast off unconstitutional and discredited policies such as Keynesian big-spending and judicial grabbing of legislative prerogatives. We also hope Congress will shake itself loose from the dishonest, anti-American trade policies of other countries, especially Communist China. Although China is called a major trading partner,...
When I first heard it, I didn’t believe it. Alas, it’s true. Last week, New York City’s Empire State Building was aglow in red and yellow. Why? To commemorate the 60th anniversary of the victorious revolution of the People’s Republic of Chinaâ€â€i.e., the establishment of Mao’s Red China. (Click here for photo.) I’m not...
China has created a massive middle class in a single generation, but it has yet to empower it. China will not soon be supplanting Americans, or Europeans, in the mall line-ups yearning for China-made-American-invented-branded-and-engineered products. American consumers are unconsciously pushing back the clock on that empowerment of the Chinese middle class through their dramatic...
China is calling for a move toward an obscure international currency known as SDRs (Special Drawing Rights) used by the IMF, to replace the U.S. dollar. The proposal on first blush suggests China is concerned with looming inflation in the U.S. and the devaluation of the debt it holds. While a reasonable concern, why...
An unnamed 27-year-old man has been arrested and charged with “public order offenses” after he threw a shoe at the Chinese prime minister, Wen Jiabao while he was giving a speech at Cambridge University in the United Kingdom on Monday February 2. The speech was related to China’s and the world economy titled See...
Timothy F. Geithner, Barack Obama’s nominee for Secretary of the Treasury, had his confirmation hearing on Thursday in the United States Senate. If confirmed he will succeed Henry Paulson in this position, which is analogous to the finance minister in other nations. During Geithner’s testimony in the Senate, he said that the Obama administration...
Three British geology students of Imperial College London have been fined in China for “illegal survey and map-making activities”, according to local media. In addition to making maps, the students were researching fault lines and earthquake activity in Xinjiang, which is a tense Muslim province to the west of the country, where anger against...
A physicist in Newport News, Va., has pleaded guilty today to charges that he illegally exported space launch technical data and defense services to the People’s Republic of China (PRC) and offered bribes to Chinese government officials. The guilty plea was announced today by Dana Boente, Acting U.S. Attorney for the Eastern District of...
According to the United States Geological Survey (USGS), an earthquake with magnitude of 6.5 has struck China. Xinhua, one of China’s main news agencies, reports the quake at a magnitude of 6.3. According to the USGS, the quake was centered 55 kilometers (35 miles) East, Southeast of Da Qaidam, Qinghai province and was reported...
Immediately following President George W. Bush’s Iraq strategy speech, Beltway insiders knew exactly where to go for analysis of the proposed “surge” of troops in Iraq. People who wish to know the facts about defense issues would be hardpressed to find an organization more trustworthy and informative than the Foundation for Defense of Democracies....
Jim Kouri, CPP Gregg William Bergersen, age 51, of Alexandria, Virginia, was sentenced in the Eastern District of Virginia to 57 months in prison and three years of supervised release for conspiracy to disclose national defense information to persons not entitled to receive it, according to a report obtained by the National Association of...
Further rain has continued to fall across southern China after the country was devastated by floods earlier this week. 176 people have been confirmed to have died as a result of the flooding, and around 50 more are officially missing. Xinhua, the state news agency in China, has reported that the flooding in the...
Respecting Accuracy in Domestic Abuse Reporting (RADAR) recently issued an alert of great importance pointing out how Avon’s sales representatives (of which Reese Witherspoon is the newest pitch-queen) are doing things tremendously damaging to women around the world. I was shocked to see an intelligent woman like Reese Witherspoon drumming war paint as the...
Nobody should be surprised to see side-by-side headlines proclaiming that oil is hitting record prices while the dollar is dropping to new lows against foreign currencies. The pieces fit. As America is forced to expend ever more of its monetary supply in order to procure basic commodities from other countries, foreign powers gain greater...
China has confirmed that the newest generation of Long March rockets has been re-scheduled to enter use in 2014. Liang Xiaohong, Vice President of China’s Academy of Launch Vehicle Technology, also confirmed that the Changzheng 5 design was built around pollution-free technologies. The rocket has been under development since 2002, and was initially said...
The US Pentagon submitted a report to Congress on Monday, detailing the Chinese Space Agency’s focus on developing means for “space warfare”. The Pentagon claims that China has been “exploring” laser, microwave, particle beam and electromagnetic pulse weapons, and suggests that China has been “developing the ability to attack an adversary’s space assets,” and...
A chemist employed by a corporation headquartered in Houston, Texas, involved in researching, developing and supplying fire-proof coating and intumescent products has been indicted and charged with theft of trade secrets and computer fraud, according to United States Attorney Don DeGabrielle and FBI Special Agent in Charge Andrew R. Bland. Qinggui Zeng, a/k/a Jensen...
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