China

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.

What A Hard Landing In China Might Look Like (If They’re Lucky) Via A Boeing 767

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).

China CLOBBERS The US In Auto Sales, Becomes GM’s Nirvana (Unless You Have To Breathe)

by Wolf Richter •  • Comments Off on China CLOBBERS The US In Auto Sales, Becomes GM’s Nirvana (Unless You Have To Breathe)

The air in China can get so bad that the whole world talks about it. Though the government is taking the issue seriously and is doing a million things to get the fiasco under control, it remains unclear what exactly people will breathe ten years from now.

So This Isn’t Exactly A Rosy Outlook For 2014, Or Something

by Wolf Richter •  • Comments Off on So This Isn’t Exactly A Rosy Outlook For 2014, Or Something

Central banks rule! We’ve seen it in 2013. They’ve accomplished the impossible: separating stock markets from the economies they’re based on. But in 2014, the US and China are trying to unwind these crazy policies – without taking down the entire global economy.

Young Woman in China Buy Maseratis

by Wolf Richter •  • Comments Off on Young Woman in China Buy Maseratis

In the US and Europe, 95% of the buyers are male. Average age is 55. What’s different in China?

Is the Giant Siberian Oilfield to be Developed by Russia and China Radioactive?

by Oilprice.com •  • Comments Off on Is the Giant Siberian Oilfield to be Developed by Russia and China Radioactive?

By Joao Peixe of Oilprice.com: The deal between Rosneft and China National Petroleum Corp to jointly develop a giant oilfield in Siberia may be tainted. I’m not talking about corruption or illegal activities, but rather the potential that the oil and gas in the field may be contaminated with radioactive materials from nuclear explosions.