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COMPANY LIQUIDATION IN CHINA  #341

https://grahamperryonchina.com/?p=2492 COMPANY LIQUIDATION IN CHINA  #341 - GOOD EVENING FROM LONDON Nikkei Asia provides an interesting update on the problems affecting the bankrupt Chinese conglomerate HNA Group, one of the country’s most prominent buyers of international assets. Co-founder Chen Geng + CEO Tan Xiangdong were taken away by police, according to a statement issued by the company on Friday. HNA grew from its flagship airline business into one of China’s most acquisitive conglomerates buying up assets such as the Radisson hotel chain, aviation services company Swissport Group and stakes in Deutsche Bank and airlines and airports, in countries as far-flung as Brazil, Australia, Ghana, Turkey and South Africa. The group has been under the control of bankruptcy administrators since the People’s High Court of Hainan Province appointed them in February 2021. Gu Gang, who heads the court-appointed working group and the most important Communist Party cell at HNA Group, effectively leads the organization at this point. On Sept 18, the company said in a statement on WeChat that the group would be broken up into four independent entities comprising airline, airport, finance, and commercial and other areas. According to Gu, who made the announcement in front of 2,000 employees during an internal conference that day, the potential new entities would “each be led by new controlling shareholders and be completely independent” from one another. Gu also confirmed that the previous shareholders would be excluded from the post-bankruptcy ownership structure and management. The latest creditors’ meeting involving the group is set to be held next week. The West is learning about China – but needs to know more about its internal dynamic, tensions and challenges. People in the West view China through the prism of cold war rhetoric. China is the Enemy, they wrongly believe. This prism obstructs the process by which Westerners come to understand the very important social, economic and financial policy. - - https://grahamperryonchina.com/?p=2492

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US DISOWNS “DE-COUPLING” POLICY #340

https://grahamperryonchina.com/?p=2489 US DISOWNS “DE-COUPLING” POLICY #340 - GOOD MORNING FROM LONDON A significant change in US policy to China was signalled yesterday when US Commerce Secretary Gina Raimondo said the Biden administration would push for American companies to trade with China even as Washington takes an increasingly tough posture on Beijing over human rights and national security. “There’s no point in talking about decoupling,” Raimondo told reporters on Monday. “As the President has said, we have no interest in a cold war with China. It’s too big of an economy — we want access to their economy, they want access to our economy”. “De-Coupling from China” has been the policy pushed by China’s opponents. Isolate China. Cut ties to China. Restrict, impede, contain China’s economic development. In this way, the West hoped to hurt China and force a change of policy in Beijing that would head off China’s rise to #1 Economic Power in the World. And now there is a significant US admission that De-Coupling Does Not Work. The West has to find a different way to live and work with China. The US has failed because US Politics and US Business clash. The West wants more of China, not less. Its Business Leaders want closer relationships with China – it is an economic priority and such a policy fundamentally contradicts with De-Coupling. So De-Coupling is Out. Will the UK follow? Raimondo’s remarks come as political tensions between Washington and Beijing continue re Taiwan, Xinjiang, Hong Kong and the S China Sea, and the US commerce department has continued to place Chinese companies on the so-called entity list, meaning US companies require a licence to sell them sensitive technologies. “I am working and will continue to work with the administration to hold China accountable,” she said, adding that she was “clear-eyed” about what is a “complicated relationship”. The Penny is beginning to Drop in Washington. On the trade and economic side confrontation does not work. Looking forward we will have to see whether the US will continue a policy of confrontation on the political side. Changes are always happening - #biden #jennyclegg #sacu #vincecable #xijinping - https://grahamperryonchina.com/?p=2489

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MORE ON EVERGRANDE #338

https://grahamperryonchina.com/?p=2486 MORE ON EVERGRANDE #338 - GOOD MORNING FROM LONDON I return for the second day in succession to the toxic issue of the world’s most indebted real estate developer, Evergrande, which, says the FT today, is on the verge of default. Troubles “are reverberating across China’s property sector and the world, revealing a very rational reason why long-term interest rates would not rise too far: the global economy is heavily indebted and too financially fragile to handle tighter credit conditions.” Evergrande’s outstanding debts of more than $300bn represent just 0.6 per cent of total credit in China, but the worry in situations like this is the fall-out effect of a high-profile default. In recent months President Xi Jinping has been cracking down on the excesses of capitalism, including the wealth and power of tech tycoons, and the rampant speculation and rising debts of the property sector. The problem is not just for China but for the world as China is the main engine of global growth. Beijing has preferred to keep economic growth going and whenever a company of any consequence gets into difficulty, authorities have stepped in with a bailout. This time it will be different and the demise of Evergrande will be managed over time and not in a one-off Lehman type total default.    Beijing will have to protect its 1.6m citizens who have invested hard-earned savings in Evergrande’s unbuilt apartments and at the same time, maintain overall economic growth. Stability will be key as China is weaned off the debt-fuelled form of capitalism that the world has been practising for years. It is not a matter of Xi Jinping being at odds with the 1980’s policies of Deng Hsiaoping. After the comprehensive failures of the Cultural Revolution, Deng was right to focus on white cats + black cats to bring about growth + prosperity. Today, Xi Jinping will seek to maintain the same growth/prosperity as he reins in the excesses of the cats. - #biden #dalio #goldmansachs #jpmorgan #xijinping - https://grahamperryonchina.com/?p=2486

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How will China handle Evergrande? #337 

https://grahamperryonchina.com/?p=2481 How will China handle Evergrande? #337  - GOOD MORNING FROM LONDON  How will China handle Evergrande? Answer – in a controlled manner. The Government has been preparing for the crisis scenario since November 2018 when China’s central bank named Evangrande as one of the few financial holding conglomerates that could cause systemic risk. In March 2020, the company set targets to cut debt by $23.3bn a year for three years + in August 2020 was among 12 big developers called in to speak with regulators with a Three Red Line Warning. Evergrande has now sold subsidiary businesses in an effort to meet all three red lines by the end of 2022 but, according to research institute Beike, it has failed to reach two targets despite paying down some debt. Beijing has seen state-led restructurings of debt-laden groups recently including Huarong, the state-owned asset manager, and HNA, an aviation, logistics and tourism conglomerate. Evergrande, however, stands out because of its impact on Homebuyers who have pre-paid Evergrande for an estimated 1.6m flats that it has, allegedly, not delivered. China’s critics hope that this is the beginning of the end – the collapse of the Socialist Experiment. But we have been here before – first, when Covid 19 first broke in January 2020 (with predictions of One Million Deaths) and, again, in April 2020 when China’s economy was predicted to collapse. On both occasions, China defied the Critics. Covid deaths in China have not exceeded 5,000 (US/UK deaths are 740,000+) and the Chinese economy was the only major economy recording growth in 2020 The Chinese government could keep Evergrande afloat simply by allowing banks to loan it money, but the Government has decided to deal with the debt problem now rather than later. China is Work In Progress. It has made big strides since 1949 and especially since 1979. But development is not plain sailing. These are uncharted waters. No country has ventured where China now treads. China succeeds if the Party succeeds – that is the dilemma for the West. And all the signs are that China remains focused and clear-sighted. - #biden #lordoneill #martinjacques #sacu #vincecable #xijinping - https://grahamperryonchina.com/?p=2481

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CHINA – WHICH ISSUE TO ADDRESS? #336

https://grahamperryonchina.com/?p=2478 CHINA – WHICH ISSUE TO ADDRESS? #336 - GOOD MORNING FROM LONDON The rise of China is best expressed in the number of different issues that regularly feature prominently in the Western media; AUKUS Nuclear Submarine Initiative; Taiwan + Taiwan Straits; Hong Kong Prosperity and the new Security Law; S China Sea Tensions; China + Covid 19; China and Debt/Evangrande; China and the Belt+Road Initiative; China Biden + Trump; China + Democracy; China + the Uyghurs; China + the Developing World; The China/Russia growing Partnership. The list is considerable and it is expanding for the simple reason that China is growing in significance, influence and consequence to the future development of the World.   We live in the Present but so many of the actions that are taken are for the Future – tomorrow not today. And as we view China, we need to weigh the changes in the balance of power and the rise and fall of strong powers. They come and they go. They enjoy periods of prosperity, power and influence and then find themselves overtaken by new and rising powers who in time, themselves, will be challenged by new powers. Looking ahead can we see the rise of Nigeria, India and a new Asia grouping embracing the large populations of Vietnam, Indonesia and the Philippines?   Today China is the focus of interest for two reasons. First China was always meant to fail (the West wrongly predicted) and, increasingly, developing countries will examine the China model of development with a view to incorporating features of its development – especially prosperity, harmony and constancy.   Any country that challenged the pre-eminent position of the US would encounter opposition. China represents a bigger threat because it is a Socialist Country led by a Communist Party that is offering a different blueprint. China will feature more, and not less, as it moves to become the biggest economic power in the world. - #biden #putin #xijinping - https://grahamperryonchina.com/?p=2478

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CHINA AND COP2 #335

https://grahamperryonchina.com/?p=2474 CHINA AND COP2 #335 - GOOD MORNING FROM 2021 President Xi Jinping has announced, at the UN General Assembly, that China will not build new coal-fired power projects abroad. In a pre-recorded video address he said “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad.” Dr Kevin Gallagher, Director of Boston University’s Global Development Policy Centre said that China “deserves great praise for pledging to stop building coal plants overseas – the first developing country to make such a pledge”. Accelerating the global phase-out of coal is an important step to keep the 1.5-degree goal of the Paris Agreement within reach. Aside from the initiatives + the numbers, there is a political point that is often overlooked. The British Industrial Revolution commenced in 1760; the US Industrial Revolution triggered by major railway network construction occurred in the 19th Century. Today it is the same industrially developed world that, today, decries China for taking steps to modernise itself.  The 19th Century in China was the beginning of its own Century of Humiliation as Western Countries – the US, the UK, Germany, France  – and Japan subjugated China and denied it the opportunity that the same Countries had taken for themselves. The environment is not a snapshot of a moment in time. It is an evolution – generation upon generation working to produce growth and development. As the UK was forcing Opium down the throats of Chinese citizens, its own entrepreneurs were engaged in massive coal-fired development in Lancashire and Yorkshire. China through off the shackles and chains of Western exploitation through 20+ years of Civil War and since 1949 has taken its people from being “The Sick Man of Asia” in 1949 to the leading economic power in the world today. The Climate Issue is about Climate. But the Climate Issue is also about Politics. - #biden #carbonneutrality #climate #environment #xijinping - https://grahamperryonchina.com/?p=2474

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MORE OF CHINA, LESS OF US – IN THE GULF #334

https://grahamperryonchina.com/?p=2471 MORE OF CHINA, LESS OF US – IN THE GULF #334 - GOOD MORNING  FROM  LONDON  In a comprehensive article today, the FT notes that the UAE’s deepening ties with China are affecting the US/UAE alliance as Biden’s increasingly hawkish stance towards China worries the Gulf states.  China broadened its economic and political footprint across the Middle East 20 years ago and today China is the biggest buyer of crude oil from the Gulf States. Prof Abdulla, an Emirati Professor of Politics, notes “The trend is more of China, less of America on all fronts, not just economically but politically, militarily, and strategically in the years to come. There is nothing America can do about it.”. This is confirmed by General McKenzie, the Commander of the US Central Command who said in a webinar “We need to recognise that competition against Russia + China simply does not only occur in the Western Pacific or in the Baltics. It occurs in other places where they are expanding and coming in”. An unnamed Saudi official is quoted “China is light years ahead on lots of things. We are also studying their industrial cities, not just big industry but downstream industries, technology and looking at how they build them so successfully.” And Prince Mohammed, whose father is the custodian of Islam’s two holiest mosques, has made no comment on the Uyghur issue except to say that Beijing “had the right to take anti-terrorism and de-extremism measures for safeguarding national security”. Jonathan Fulton of Zayed University in Abu Dhabi observes that the Gulf powers look at China “and see a rising power that creates a lot of opportunities and they don’t demand a whole lot whereas Western countries tend to tie in human rights and political ideology…China’s got this very firm, non-interference principle hard-baked into its foreign policy” It is good to look beyond Washington and see how other countries view China. - #biden #chathamhouse #vincecable #xijinping - https://grahamperryonchina.com/?p=2471

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PROFESSOR LAWRENCE FREEDMAN GETS IT WRONG #333

https://grahamperryonchina.com/?p=2467 PROFESSOR LAWRENCE FREEDMAN GETS IT WRONG #333 - GOOD MORNING FROM LONDON Sir Lawrence Freedman is an Emeritus Professor of War Studies at King’s College London. He is the Dean of British Strategic Studies”. He is also wrong on China. In an article in the Sunday Times 19 September 2021, he states that the context of the US/UK/Australia Nuclear-Powered Submarine Agreement “is the massive build-up in China’s armed forces in recent years…and the authoritarian turn in its internal affairs, the suppression of freedoms in HK, and a range of territorial demands against Vietnam, Japan + India along with pressure on Taiwan”. One by One. 1.     Massive build-up in China’s Armed Forces. China is spending more on Defence. That is what it is – Defence. Not 1 Chinese soldier nor 1 military base outside China. 400 American bases surround China with ships, missiles and troops, in an arc that extends from Australia north through the Pacific to Japan, Korea and across Eurasia to Afghanistan and India. 2.     The Pentagon + Academic circles in the US have been digesting the writings on the Thucydides Principle by US Harvard Professor Allison and the expectation of War between the US + China 3.     There have been territorial disputes between China/Vietnam for many years but Vietnam accepts Covid-19 vaccines from China. The last hostilities between the two countries were 46 years ago. No expansionism here 4.     Recently two leading UK Supreme Court Judges announced their intention to continue to sit in Hong Kong’s Court of Final Appeal. Would they be extending their involvement in Hong Kong if freedoms were being suppressed? 5.     Border disputes with India are just that – border disputes. They were in 1962 and they were in 2020. No expansionism here 6.     “Pressure on Taiwan”. Taiwan is Chinese territory. The US accepts there is only one China. Taiwan’s attempts to assert independence have been resisted since 1949. No expansionism here Consider, finally, the words of former Prime Minister Keating of Australia – China has no expansion plans – no territorial ambitions. - #biden #scottmorrison #xijinping - https://grahamperryonchina.com/?p=2467

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PROFESSOR LAWRENCE FREEDMAN GETS IT WRONG #333

https://grahamperryonchina.com/?p=2467 PROFESSOR LAWRENCE FREEDMAN GETS IT WRONG #333 - GOOD MORNING FROM LONDON Sir Lawrence Freedman is an Emeritus Professor of War Studies at King’s College London. He is the Dean of British Strategic Studies”. He is also wrong on China. In an article in the Sunday Times 19 September 2021, he states that the context of the US/UK/Australia Nuclear-Powered Submarine Agreement “is the massive build-up in China’s armed forces in recent years…and the authoritarian turn in its internal affairs, the suppression of freedoms in HK, and a range of territorial demands against Vietnam, Japan + India along with pressure on Taiwan”. One by One. 1.     Massive build-up in China’s Armed Forces. China is spending more on Defence. That is what it is – Defence. Not 1 Chinese soldier nor 1 military base outside China. 400 American bases surround China with ships, missiles and troops, in an arc that extends from Australia north through the Pacific to Japan, Korea and across Eurasia to Afghanistan and India. 2.     The Pentagon + Academic circles in the US have been digesting the writings on the Thucydides Principle by US Harvard Professor Allison and the expectation of War between the US + China 3.     There have been territorial disputes between China/Vietnam for many years but Vietnam accepts Covid-19 vaccines from China. The last hostilities between the two countries were 46 years ago. No expansionism here 4.     Recently two leading UK Supreme Court Judges announced their intention to continue to sit in Hong Kong’s Court of Final Appeal. Would they be extending their involvement in Hong Kong if freedoms were being suppressed? 5.     Border disputes with India are just that – border disputes. They were in 1962 and they were in 2020. No expansionism here 6.     “Pressure on Taiwan”. Taiwan is Chinese territory. The US accepts there is only one China. Taiwan’s attempts to assert independence have been resisted since 1949. No expansionism here Consider, finally, the words of former Prime Minister Keating of Australia – China has no expansion plans – no territorial ambitions. - #biden #scottmorrison #xijinping - https://grahamperryonchina.com/?p=2467

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WAR BECKONS #332

https://grahamperryonchina.com/?p=2463 WAR BECKONS #332 - GOOD MORNING FROM LONDON On the day that Chinese astronauts returned to earth after completing a record 3 months on China’s Tiangong space station – a milestone in the country’s ambitious space programme, the fall out from the US/UK/Australia new trilateral security partnership races around the world. Admiral Lee Hsiming, former Chief of Taiwan’s Armed Forces said “The Australian Fist will reach right to mainland China”. The Australian Government said that the three-way Agreement “represents a substantial capability leap for the Royal Australian Navy. Nuclear-powered submarines have superior stealth, speed, manoeuvrability, survivability and almost limitless endurance…these abilities allow nuclear-powered submarines to operate in contested areas with a lower risk of detection”. Zhu Feng of Tsinghua University said AUKUS is directly aimed at containing China’s rise. Trumpism without Trump.” Yun Sun, a China foreign policy expert at the Washington Stimson Centre, warning of an even closer China/Russia co-operation said “We are one step closer to the emergence of a bipolar world”. Su Tzu-yun of the Taiwan National Defence and Security Research said “The submarine deal is very clearly targeting China’s nuclear strategy.” Drew Thompson, a former Pentagon Asia specialist said the trilateral agreement had “huge implications” and signalled a “very substantial upgrading of the US-Australia relationship”. By comparison, UK Prime Minister Johnson insisted that the pact was not intended as an “adversarial” move against China. He said that although the agreement to share nuclear submarine technology with Australia represented a “huge increase” in the levels of trust among the three countries, it was not “revolutionary”. Johnson will encounter rough waters seeking to allay Chinese anxieties especially as the rest of the world sees the AUKUS as a fundamental confrontation initiative. There will be consequences to Anglo-China relations and even bigger adverse consequences for world international relations. China will not be cowed. War beckons. - #biden #chathamhouse #vincecable #xijinping - https://grahamperryonchina.com/?p=2463

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THE US/UK/AUSTRALIA – NEW SECURITY INITIATIVE #331

https://grahamperryonchina.com/?p=2460 THE US/UK/AUSTRALIA – NEW SECURITY INITIATIVE #331 - GOOD MORNING FROM LONDON Yesterday, 15 September 2021, in a Virtual Event, President Biden, Prime Minister Johnson of the UK + Prime Minister Morrison of Australia announced a new trilateral security relationship that will enable Australia to build a fleet of nuclear-powered submarines. Biden said that the initiative is intended to bolster alliances as tensions rise with China over disputes ranging from the South China Sea to Taiwan. In a thinly veiled reference to China, Morrison said the three countries had to raise their partnership to “A New Level” because of the “increasingly complex environment in Asia”. Co-operation would be boosted in cyber security, artificial intelligence and quantum computing. 1.     This is much more than Five Eyes Intelligence Sharing as pursued by the US, UK, Australia, Canada + New Zealand. This is about nuclear submarines close to China 2.     The EU is excluded – growing evidence of a US/EU split when it comes to China and also a pointer to the UK – post Brexit –  searching for alliances and coalitions and a world role. 3.     Following the US’s confused and incoherent withdrawal from Afghanistan, is there confidence that the US will keep to its commitment – especially with Trump and his “US First” policy preparing for a 2024 comeback? These are unsettling times and it is important to remember the importance that Washington and the Pentagon attach to the Thucydides Principle – drawing on Sparta/Athens tensions of Greek history – which focuses on the reluctance of established power to concede to a rising power. “War is possible”. “War is probable”. Today it is possible to take either view. The key world relationship is between the US and China and an increase in the number of nuclear-powered submarines in the S China Sea only heightens tensions and anxieties. China is inflexible when it comes to issues of its territorial integrity. But China has no submarines off the West Coast of the US. - - https://grahamperryonchina.com/?p=2460

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WAS PRESIDENT BIDEN REBUFFED? #330

https://grahamperryonchina.com/?p=2457 WAS PRESIDENT BIDEN REBUFFED? #330 - GOOD MORNING FROM LONDON Last week President Biden requested a phone conversation with President Xi Jinping. It lasted 90 minutes. It is reported with increasing confidence that Biden proposed to Xi that the Two Leaders hold a summit in an effort to break the present impasse in US-China relations. Xi sidelined the proposal and, instead, stressed that Washington reduces its invective against China before a face-to-face summit can take place. In recent weeks meetings have taken place in China between Foreign Minister Wan Li and Biden Cabinet members including Kerry, Sherman and others. But Biden was pressing for a face-to-face meeting with Xi. He didn’t get it. It will happen but not until – following State Councillor Yang Jiechi’s straight-talking to Blinken at Anchorage in January 2021 – the US has ceased to talk down to China. This is not just an issue of pride or verbal spat but a recognition of a shift in world power. World politics are never static. Change is permanent + stability is temporary. Things are always changing – sometimes quietly + sometimes dramatically. Consider the announcement in November 1970 that President Nixon was going to visit China. It was a shock. People were taken by surprise. But there was clear evidence in the preceding months that a fundamental change in the balance of world power was underway – particularly in the deteriorating relations between Washington and Moscow. There is a significant change taking place today as China’s growing influence penetrates the political decision-making process across the capitals of the world. All governments are reviewing their priorities and changes in strategy are underway – some incrementally and some fundamentally. Today a significant adjustment is taking place in the relationship between Beijing and Washington. As in 1970, there needs to be an adjustment to new political realities. - #biden #sacu #xijinping - https://grahamperryonchina.com/?p=2457

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WAS PRESIDENT BIDEN REBUFFED? #330

https://grahamperryonchina.com/?p=2457 WAS PRESIDENT BIDEN REBUFFED? #330 - GOOD MORNING FROM LONDON  Last week President Biden requested a phone conversation with President Xi Jinping. It lasted 90 minutes. It is reported with increasing confidence that Biden proposed to Xi that the Two Leaders hold a summit in an effort to break the present impasse in US-China relations. Xi sidelined the proposal and, instead, stressed that Washington reduces its invective against China before a face-to-face summit can take place. In recent weeks meetings have taken place in China between Foreign Minister Wan Li and Biden Cabinet members including Kerry, Sherman and others. But Biden was pressing for a face-to-face meeting with Xi. He didn’t get it. It will happen but not until – following State Councillor Yang Jiechi’s straight-talking to Blinken at Anchorage in January 2021 – the US has ceased to talk down to China. This is not just an issue of pride or verbal spat but a recognition of a shift in world power. World politics are never static. Change is permanent + stability is temporary. Things are always changing – sometimes quietly + sometimes dramatically. Consider the announcement in November 1970 that President Nixon was going to visit China. It was a shock. People were taken by surprise. But there was clear evidence in the preceding months that a fundamental change in the balance of world power was underway – particularly in the deteriorating relations between Washington and Moscow. There is a significant change taking place today as China’s growing influence penetrates the political decision-making process across the capitals of the world. All governments are reviewing their priorities and changes in strategy are underway – some incrementally and some fundamentally. Today a significant adjustment is taking place in the relationship between Beijing and Washington. As in 1970, there needs to be an adjustment to new political realities. - #biden #sacu #xijinping - https://grahamperryonchina.com/?p=2457

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GEORGE SOROS FALTERS

https://grahamperryonchina.com/?p=2454 GEORGE SOROS FALTERS - George Soros says Sell not Buy. As Wall Street reflects on the Rise of the Regulator in China, Soros advises markets to withdraw from China. Politics guides his thinking when he says “Today, the US + China are engaged in a life + death conflict between two systems of governance: repressive and democracy”. Soros, famous for selling the UK £ and breaking the Bank of England in the 1990’s, goes on to attack 3 Wall Street Opinion Makers; – Larry Fink of BlackRock, Stephen Schwarzman of Blackstone and John Thornton of Goldman Sachs for “damaging the national security interests of the US and other democracies” But Soros gets it wrong. He sees China as the old USSR – repressive, over-centralised and dogmatic. Soros fails to see the dynamic at work in China; fails to see the logic of a China keen to encourage the creative initiative of Business on the one hand and at the same time determined through the Regulator to ensure the Billionaires are accountable to the Party and not the reverse. Something new and significant is taking place in China but those with historical prejudices fail to appreciate the new approach. Soros falls into this category. Soros’s mistake is to view China as a dictatorship presiding over a closed society which it is determined to impose itself on the World. And this at just the time China is forging ahead with further opening up to foreign investment and a deepening of international engagement and integration. China’s economy is predicted to grow at 6% each year up to 2026 + aims to expand the middle class grouping of more than 400m people. A small example of China’s persistence with the policy of Opening-Up is evidenced by the opening on 20 September 2021 of the Universal Beijing Resort which is the biggest Universal Studios park in the world. The soft opening was on 1 September and visitors have waited in line for up to 2 hours to access the high-tech rides themed on Harry Potter and others. This time Soros has got it very wrong. - #biden #chathamhouse #vincecable #xijinping - https://grahamperryonchina.com/?p=2454

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REDS UNDER THE BEDS #328

https://grahamperryonchina.com/?p=2451 REDS UNDER THE BEDS #328 - GOOD MORNING FROM LONDON  Post World War 2 the USA, inspired by Winston Churchill’s 1946 Iron Curtain speech at Fulton Missouri, and led by Senator Joe McCarthy who chaired the Committee of Un-American Activities, engaged in a Red Under The Beds policy designed to compel US citizens to disclose their political preferences and contacts. Today this is widely regarded as a low point of US Democracy. “Reds Under The Beds” – RUTB – was an attempt to turn the USSR, a key ally in the War against Hitler, into a hated foe. A panic gripped America as secret and sinister investigations led to people being isolated + unemployed in large numbers. Suicides ensued as the USSR became Enemy No 1. Today, in the minds of some well placed UK politicians + journalists, China is the New Enemy and people in the UK are being urged to be alert to the alleged attempt by China to take over + subvert the UK. The goal is alleged World Power – “China aims to rule the world. China must be stopped.” Today in The Times the usual names appear with their familiar denunciations of China – Ian Duncan Smith and Tom Tugendhat. Not for the first time Huawei is accused of infiltrating a Cambridge University Research Centre. “Guilt by Association” – anyone with China links is seen as a willing accompanist of China’s supposed worldwide strategic aim to rule the world. China, without one soldier outside China, and with just one naval base in Djibouti, is making remarkable progress and will shortly become the Largest Economy in the World. Its people have “Never Had It So Good” to echo Harold Macmillan. They travel the world in numbers + never apply for asylum. They enjoy a prosperity never imagined even 20 years ago. The Right wants to “de-couple” from China and obstruct its progress. That is the goal of the “Reds Under The Beds” policy. - #biden #jeffreysachs #tugendhat #vincecable #xijinping - https://grahamperryonchina.com/?p=2451

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CHINA IS NOT THE OLD SOVIET UNION #327

https://grahamperryonchina.com/?p=2448 CHINA IS NOT THE OLD SOVIET UNION #327 - GOOD MORNING FROM LONDON Opponents of China, whether they be Governments or the Media, view China + see the USSR. They are caught in an inflexible mindset that starts with a flawed premise and leads to a flawed conclusion. They start + remain on the wrong track. An alternative view comes from the former Australian Prime Minister Paul Keating who has recently said; “China is not the old Soviet Union. It is not attacking or forcibly incorporating countries into a grand union, nor is it exporting some kind of universal ideology…It is now a state as large as the United States, and with the potential of being much larger – an unforgivable sin for American triumphalists.” Keating continues “China’s rise is simply not in the American playbook – its very existence and at this scale is an affront to America’s notion of itself as the exceptional state, the proselytizer of divine providence.” A Few Conclusions;- 1.     China does have some similarities to the old USSR – not least in the name of the governing party but the differences are much greater. Soviet citizens never travelled overseas. The USSR never welcomed foreign tourists or foreign investment. The USSR held fast to a centralised economy based on heavy industry whereas China’s economy is decentralised and widely diversified. 2.     The USSR, through the Comintern, sought to promote Left groups to agitate on its behalf, whereas China is self-contained without an agenda of ideological expansion. 3.     The USSR army dominated Eastern Europe with its troops under the guise of the Warsaw Pact. China has just one naval base in Djibouti and no overseas troops China’s rise in economic growth and material prosperity contradicts Western thinking that Capitalism and Liberal Democracy is the only way forward. The World is on a different path. Beijing sees it. Washington does not see it. NEXT POST-MONDAY 13 SEPTEMBER 2021 - #biden #xijinping - https://grahamperryonchina.com/?p=2448

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“COMMON PROSPERITY” #326

https://grahamperryonchina.com/?p=2444 “COMMON PROSPERITY” #326 - GOOD MORNING FROM LONDON Over the years, the Communist Party of China has governed with the use of different phrases that have given focus to the direction of the Country. “Power Grows out of the Barrel of a Gun” during the period of the Civil War against the Kuomintang; “The Working Class Must Exercise Leadership in Everything” during the Cultural Revolution; “Black Cat or White Cat – So Long as it Catches the Mouse” during the ascendancy of Deng Hsiaoping in the 1980s. Today there is a new term to focus the energies of the People – “Common Prosperity”. But what does it mean?  Is it merely an attack on the Billionaires; or a conscience-stricken step in the direction of egalitarianism; or an awareness that as the economy develops and prosperity abounds, attention must be made to ensure sections of Chinese Society do not fall behind? China was in trouble after the Cultural Revolution. The people were not happy. The Government needed to prove that, aside from the political jargon, there was an awareness that living standards had to grow. The imbalance in society was corrected – Capitalists were encouraged to flourish; homes were built; well-stocked shelves attracted new customers and lifestyles improved. But Indulgence + Extravagance also became a fact of life as Pop Stars and CEO’s basked in their achievements. Today there is a correction – ask Jack Ma and the Stars who are paying big fines for tax evasion. Ask senior Party members in Hangchow whose relationship with Billionaires has come under searching scrutiny.  Ask top sportsmen/women whose wealth accumulation is the subject of investigation and repayment. At the core of the new priorities is the Party and a determination to build Socialism with Chinese Characteristics. The Party serves the People – not a Clique or Money or even Party Members. Its target is to defeat Inequality + Unfairness and to promote Common Prosperity. - #biden #cbbc #cccuk #xijinping - https://grahamperryonchina.com/?p=2444