China

Dang, The Wine Bubble Implodes (It’s China’s Fault)

by Wolf Richter •  • Comments Off on Dang, The Wine Bubble Implodes (It’s China’s Fault)

Many in the industry believe that in China, 90% of the high-profile wines, like certain Bordeaux, are fake. Devastating thought if you keep wine in a refrigerated vault as an asset class. And prices have collapsed. But it’s not all doom and gloom, not with California wines.

China’s Oil Giant At Center Of Corruption Probe

by Oilprice.com •  • Comments Off on China’s Oil Giant At Center Of Corruption Probe

Grins were on the faces of CNPC executives as they celebrated a blockbuster 30-year deal for Russian gas. For some, however, those grins might turn to grimaces; CNPC has been caught up in a series of highest profile corruption investigations.

Why China Will Implode: It’s A Monumental Building Aberration, Not An Economy

by David Stockman •  • Comments Off on Why China Will Implode: It’s A Monumental Building Aberration, Not An Economy

China isn’t just another booming Emerging Market economy trying to cool down excesses in fixed-asset investment and transition to a consumer-based economy. That notion is an odd-confluence of propaganda from Beijing and hopium from Wall Street.

US on Self-Imposed Sidelines in South China Sea Standoff

by Oilprice.com •  • Comments Off on US on Self-Imposed Sidelines in South China Sea Standoff

Vietnam and China are in a red-hot standoff in the South China Sea over China’s oil rig in Vietnam’s 200-mile exclusive economic zone. But inaction in Congress has boxed the US into a corner.

Beijing’s Efforts To Slow Credit Bubble Will End in Catastrophic Fail

by David Stockman •  • Comments Off on Beijing’s Efforts To Slow Credit Bubble Will End in Catastrophic Fail

In 2000, China had $1 trillion of credit market debt outstanding – a figure which has now soared to $25 trillion. No economic system can remain stable and sustainable after undergoing a 25X debt expansion in only 14 years.

Exodus of Japan Inc. Slams China

by Wolf Richter •  • Comments Off on Exodus of Japan Inc. Slams China

China’s moves “discourage” Japanese corporations from doing business there, said the Japanese government on Monday. That’s exactly what has been happening for months. In a most dramatic way, and where it hurts China the most.

Dollar Hegemony Under Attack By Export-Superpowers Germany and China

by Wolf Richter •  • Comments Off on Dollar Hegemony Under Attack By Export-Superpowers Germany and China

The word dollar didn’t even come up when the Bundesbank signed the agreement with the People’s Bank of China. President Xi Jinping and Chancellor Angela Merkel looked on. It was serious business. Everyone knew what this was about. No one had to say it.