by Wolf Richter • • Comments Off on Saber-Rattling Between Japan, China, and RUSSIA of all things Hits Record
The Japanese Defense Ministry refused to speculate why Russian activity had suddenly soared, just when both countries are trying to hash out a mega-energy deal.
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.
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.
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.
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.
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.
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.
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.
by Wolf Richter • • Comments Off on What A Hard Landing In China Might Look Like (If They’re Lucky) Via A Boeing 767
China’s enormous, strenuously obfuscated credit bubble has led to flagrant misallocation of capital and spectacular malinvestments eternalized in vast ghost cities. That this will end is clear. How it will, is not. But here is a hold-your-breath version (1-min video).
