China

Authored by James Holbrooks via TheAntiMedia.org,

In an effort to “uphold the respect of the people” for the country’s national anthem and “regulate their behavior while singing or playing” it, as the China Daily writes, China’s government is considering stiffening the penalty for mocking the tune. From the state-run outlet on Tuesday:

“People who disrespect China’s national anthem could face up to three years in prison if a draft amendment to the Criminal Law is approved.

 

Just over a week ago we highlighted how China’s financial regulator had instructed companies to delay the reporting of bad corporate news until after the Party Congress. As Bloomberg noted...

China’s securities watchdog has asked some loss-making companies to avoid publishing quarterly results this week as authorities seek to ensure stock-market stability during the Communist Party Congress, according to people familiar with the matter.

 

One month ago, Deutsche Bank's unorthodox credit analyst, Jim Reid published a phenomenal report, one which just a few years ago would have been anathema in the hushed corridors of high finance as it dealt with two formerly taboo topics: is a financial crisis coming (yes), and what are the catalysts that have led the world to its current pre-catastrophic state, to which Reid had three answers: central banks, financial bubbles and record amounts of debt. 

Just as President Donald Trump is preparing to embark on a nearly two-week tour of Asia – his first since taking office – where he is expected to discuss, among other topics, the regional threat posed by North Korea, Defense News is reporting that China has reportedly been conducting bombing drills targeting the US territory of Guam.

Back in 2014, a scandal erupted when media reports confirmed what many had previously speculated about China's banking system: namely that much of China's staggering loan issuance had been built (literally) upon air and that trillions in loan collateral had been "rehypothecated" between two, three or many more debtors - or never even existed - forcing banks to accept that they would never recover much if any of the pledged collateral - in most cases various commodities - if the economy were to suffer a hard-landing resulting in mass defaults.