US Secretary of State/Ex-CIA director Mike Pompeo: We lied, we cheated, we stole’



https://youtu.be/DPt-zXn05ac

US Secretary of State Mike Pompeo: “I was the CIA director. We lied, we cheated, we stole. We had entire training courses. It reminds you of the glory of the American experiment.”

Pompeo said this at an event at Texas A&M University on April 15, 2019. Here is the official State Department transcript:https://www.state.gov/secretary/remar…. https://thegrayzone.com

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‘Glory of American experiment’: What did Pompeo mean by that?

Mike Pompeo is loved by the Koch brothers, big oil, Islamophobes, people against  marriage equality, and of course, Donald J. Trump. Narrated by Judy Gold. » Subscribe to NowThis: http://go.nowth.is/News_Subscribe
With business ties to foreign governments, connections to the defense and oil industries, nonchalance towards torture, and hatreds of entire cultures, it’s no surprise Mike   Pompeo’s run as Trump’s CIA Director was short lived – but his time in the White House continues on as U.S. Secretary of State and head of all U.S. diplomatic relations.

Pompeo: ‘I was the CIA director. We lied, we cheated, we stole’

 ‘I was the CIA director. We lied, we cheated, we stole. It’s – it was like – we had entire training courses. It reminds you of the glory of the American experiment’ – Pompeo

Mike Pompeo says, “Lying, cheating and stealing reminds you of the glory of the American experiment”

Pictured above: US Secretary of State Mike Pompeo, telling it like it is: lying, cheating and stealing are the glory of the American experiment. It’s what the capitalist West does best. He was adored by the audience like a success guru.
Source article with all the images and hyperlinks: https://chinarising.puntopress.com/20…
Mike Pompeo says, “Lying, cheating and stealing reminds you of the …

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Who is messing with Hong Kong?


A rioter waves a US national flag in Tsim Sha Tsui district in Hong Kong on August 11. Photo: AFP

What went wrong with Hong Kong’s education? Is it one root-cause of the current hostility how these young people are being educated?

How can the HK government bring back law and order?



Hong Kong Legal Exchange Foundation to ask UN to probe U.S. involvement in riots

Foreign forces have been trying to influence HK for years to infiltrate mainland

Some foreign forces have had a hand in what is happening in Hong Kong. The list includes the US Democratic politician Nancy Pelosi, Senate MajorityLeader Mitch McConnell and Republican senator Marco Rubio as well as staff from the Consulate General of the US in Hong Kong and think tanks from the US.

They either neglect what is happening in Hong Kong, make groundless accusations about the Chinese government or send the wrong signals to radical protesters. They also invited people involved in what is happening in Hong Kong to visit the US and funded the so-called democratic and political movement.

Analysts said that long before Hong Kong returned to China, the US made it a point to contain China in a soft way by promoting the West’s ideology. And now the US is openly interfering in China’s domestic affairs.

In 1998, US president Bill Clinton paid a visit to Hong Kong and praised the city for its trade and globalization, and noted that the US thinks Hong Kong is not only important to China, but also to Asia, the US and the whole world.

But now, some Americans are using Hong Kong as a card to contain China.

In the book Hong Kong and the Cold War: Anglo-American Relations 1949-1957, the author Chi-kwan Mark wrote that after 1949, the British Empire in Hong Kong was more vulnerable. “Concerned about possible Chinese retaliation, the British insisted and the Americans accepted that Hong Kong’s role should be as discreet and non-confrontational in nature as possible.”

“Top decision-makers in Washington evaluated Hong Kong’s significance not in its own right, but in the context of the Anglo-American relationship: Hong Kong was seen primarily as a bargaining chip to obtain British support for US policy elsewhere in Asia.”

During the Cold War, the Truman Administration ramped up efforts in ideological propaganda and infiltration of China and undertook a series of moves in Hong Kong through the US Information Agency there.

The main mission for the agency in Hong Kong was to create an anti-China atmosphere through broadcasts, movies, media and book publishing, cultivating support for the US and capitalism.

In 1957, the US National Security Council made US policy on Hong Kong, which explained its goal of conducting ideological and infiltration work on the Chinese mainland through Hong Kong. The document was signed by the then US president.

An officer at the US Consulate General reportedly met with major “Hong Kong Independence” activists in early August. The officer was later identified as Julie Eadeh, political unit chief of the consulate general.

Eadeh was involved in plotting subversive actions under the name of human rights and democracy while she was stationed in the Middle East as a diplomat, said Ta Kung Pao.

Eadeh’s former superior, Kurt Tong, former Consul General of the US to Hong Kong and Macao, frequently warned Hong Kong not to promote the extradition bill through the media.

Tong once said in an interview with the media that the legal systems of mainland and Hong Kong are different, so it is a natural reaction for Hong Kong people to pay attention to the amendment of the bill, according to Ta Kung Pao. His remarks were criticized by some media as “open political interference.”

Chan Yong, a Hong Kong deputy to the National People’s Congress was quoted by Ta Kung Pao as saying that Tong’s remarks showed “gangster logic.” The US has started color revolutions in many places in the world. Tong is only a diplomat who is not elected by the Hong Kong people and has no qualification to discuss what is happening in Hong Kong, Chan said.

Tang Fei, a member of the Chinese Association of Hong Kong & Macao Studies, told the Global Times that the US has been openly interfering in Hong Kong affairs since 2010 when Stephen Markley Young was the US Consul General in Hong Kong.

Tang said that almost all the US consul generals in Hong Kong had been appointed to work in Taiwan. During Young’s stay in Hong Kong, the “Arab Spring” took place and his remarks on the anti-government protests and armed rebellions that spread across North Africa and the Middle East in the early 2010s were criticized as intentionally stirring up political movements movements in Hong Kong.

NGO involvement

With Hong Kong’s chaotic situation, some think tanks and NGOs that are closely connected with the White House are also interfering.

Jonathan Schanzer, senior vice president for research at the Foundation for Defense of Democracies, on July 9 hosted a forum named “Protests, Crackdowns, and the Future of Hong Kong: A Conversation with Jimmy Lai Chee-Ying.”

Schanzer has frequent interactions with John Bolton, Assistant to the President for National Security Affairs. However, Schanzer does not study Chinese affairs, but is an expert on Middle East issues.

NBC reported that during the event, Lai emphasized America’s “moral force,” saying, “We need to know that America is behind us.”

The Center for Strategic and International Studies of the US invited Kurt Tong to give a speech. Tong suggested Washington should conduct more active communication with Hong Kong, instead of seeing the region as a minor issue.

The website of US think tank Jamestown Foundation on July 16 published a report related to Hong Kong by Russell Hsiao, Executive Director of the “Global Taiwan Institute.” Hsiao has maintained a close relationship with the Democratic Progressive Party, which promotes Taiwan secession.

In US academia, there are not many scholars who have been following Hong Kong issues. Most people who study Hong Kong are those with experience of living in the region, such as Richard Bush III, the director of the Center for Northeast Asian Policy Studies (CNAPS) of the Brookings Institution.

According to a Chinese language BBC report in July, Bush said the Hong Kong radicals have set a very high goal and their strategy is becoming more aggressive, which is almost certain to draw a reaction from the police.

“US Government, NGOs Fuel and Fund Hong Kong Anti-Extradition Protests,” read an article published on the Global Research website in Canada.

“Maintaining Hong Kong’s distance from China has been important to the US for decades. One former CIA agent even admitted that “Hong Kong was our listening post,” the article read, stating that the National Endowment for Democracy (NED), a CIA soft-power cutout, has been funding groups in Hong Kong since 1994.

NED has two branches out of its main four, the Solidarity Center (SC) and the National Democratic Institute (NDI), which are closely connected with the groups in Hong Kong. Louisa Greve, vice president of programs for Asia, the Middle East and North Africa, said that NED’s funding for Hong Kong groups has been “consistent,” according to the article.

In 2014, Greve even admitted in public that “activists know the risks of working with NED partners” in Hong Kong, but do it anyway.

When searching “Hong Kong” on the NED website, the Global Times reporter found 14 related items, including $1.95 million in funding for the region. In May, the foundation invited some “pro-secession” activists for a seminar, after which the violence in Hong Kong streets became increasingly severe, echoing the voice of anti-China politicians and NGOs in Washington.

Similar tricks to ‘Color Revolution

The US has always kept a close economic and social relationship with Hong Kong. American companies generally praise the business environment in Hong Kong, including its judicial system, free flow of information, low tax rate and local infrastructure. More than 1,300 US firms operate in Hong Kong, including 726 regional operations and there are approximately 85,000 American residents in Hong Kong, according to a report released by the US Department of State in July 2018.

In addition, “The US trade surplus with Hong Kong is the single largest with a US trading partner, with a surplus in 2017 of $32.6 billion,” said the report. Main Hong Kong imports from the US are American aircraft and spacecraft, electronic machines, pearls, gold, diamonds, artwork, meat, fruit and nuts.

However, the American Chamber of Commerce in Hong Kong has been playing a dishonorable role. In March, the chamber expressed views in newspapers belonging to the opposition camp in Hong Kong, saying it sent a strongly-worded position paper to the Security Bureau under the Government of the Hong Kong Special Administrative Region (HKSAR).

In the past, the chamber submitted such advice directly to the HKSAR, but this time, it made a show of “politicizing the commerce chamber” – deliberately revealing the advice through opposition media in order to stir up society.
Anson Chan Fang On-sang and several other opposition leaders visited the US to meet with US Vice President Mike Pence, US Secretary of State Michael Pompeo and US House speaker Nancy Pelosi, who has frequently made irresponsible remarks and even “gave orders” to the HKSAR Chief Executive.

Some opinions in Hong Kong said pro-democracy leaders receive a high standard of hospitality from the US, which shows how much attention the US pays to Hong Kong, but amid the tense situation of the China-US trade friction, such behavior “gets Hong Kong and the opposition camp involved in the wrestling between China and the US,” which is very unwise.

The main influence of the US on Hong Kong is reflected in the high-end financial industry, as the big investment banks are mainly from the US, Tang told the Global Times.

Tang noted the cost for the US to play the “Hong Kong card” to start a strategic competition with China is not high. Even though the surplus of US enterprises in Hong Kong reaches $40 billion each year, which balances out the deficit with China, the US can control its enterprises and investment banks in Hong Kong through “long-arm jurisdiction.” It can threaten to cancel Hong Kong’s position as an “independent customs area” using the excuse of the “extradition bill crisis.”

This situation puts Hong Kong in a dilemma: even if Hong Kong compromises, the city will not gain goodwill from the opposition camp backed by the US; if Hong Kong shows a tough position, the US may weaken Hong Kong’s position as a global financial center.

During the Cold War, the US made Hong Kong a “shop window” to showcase Western values of democracy, thus implementing a type of “soft containment.” The infiltration by the US, to some extent, has impacted Hong Kong society and its people. For instance, some Hongkongers are prejudiced against the Chinese government, which proves that the US infiltration has made the values of some intellectuals and youths in Hong Kong more Westernized.

The political, economic, social and cultural system have basically remained unchanged since China resumed exercise of sovereignty over Hong Kong in 1997, so the values of some Hongkongers are still close to the UK and US, said Chan Chi-Ho, vice executive chairman of the Hong Kong CPPCC Youth Association. During the “anti-extradition bill” protests, some people frequently came to meet US politicians and took the initiative to ask foreign forces to intervene, Chan said. For example, they published joint signatures on the White House website and connected with US diplomatic personnel in Hong Kong.

Chan said many Hongkongers know that the reason for the protests is support from foreign forces. The locals do not agree with waving UK and US national flags in public places because it completely betrays the national interest and the Chinese people’s feelings. After all, very few people want Hong Kong to become a colony again.

Meanwhile, it is notable that the action of waving foreign flags drew strong disgust from people who love China and Hong Kong. Many local people were angered by this traitorous action.

The situation in Hong Kong can now be described as “UK retreating but US advancing,” which was reflected in the Occupy Central Movement in 2014, according to Li Xiaobing, an expert on Hong Kong, Macao and Taiwan, from Nankai University in Tianjin. The movement made Hong Kong a strategic strongpoint supported by foreign political forces, as well as a wedge that deeply affects China.

Li noted the operations, tricks and methods taken by the US during the “anti-extradition bill” protests are similar to color revolutions in other places. Everything from the image building and power allocation to propaganda and political objectives are very similar. The duration and mobility of the recent protests all surpassed that of the 2014 movement in terms of level and width.

Li predicts that the US will not give up playing the Hong Kong card easily. At the same time, Beijing will enhance its countermeasures. As a result, the overall situation in Hong Kong will be controlled, he said. – Source link 

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Peter Navarro, a hawk that ‘lacks intellect and common sense’ is Trump’s trade adviser or political agitator?


A profile photo of Peter Navarro Photo: IC

○ Navarro used the idea of the seven sins to criticize China, which showed his narrow and distorted mind

○ Navarro has been called the US President Donald Trump’s “spirit animal” as Donald Trump Jr. called him “a fierce warrior” for his father’s America First trade agenda

○ Politicians like Navarro have ruined the efforts made in the China-US trade talks and US society will pay for this, analysts said

White House trade adviser Peter Navarro on Sunday said that China must end the “seven deadly sins,” a remark that was criticized by Chinese experts as “absurd and full of hostility” and that Navarro’s dominance of economic issues in the White House is a source of sadness in current China-US trade ties.

Navarro, 69, is a White House trade adviser and ardent supporter of the trade war. Several days earlier, Trump escalated his tariff war with China and Navarro was the only person at the announcement who supported it.

Navarro used the Christian concept of the seven deadly sins to criticize China, which showed his narrow and distorted mind. His willful moves to stir up hatred between countries are the real sin, analysts said.

He has written three books discrediting China and produced documentaries portraying Beijing as a threat. He ingratiates himself with those in the White House in order to get promoted. He has a “big mouth” and was told to shut up after saying the Canadian Prime Minister deserves “a special place in hell.” He has written a number of books, but has always been an unrecognized “non-mainstream economist.”

Navarro’s distinguishing feature among White House staff and senior officials is likely not that he is more of a “hawk” than others, but that he lacks intellect and common sense. He is highly compatible with his leader in his use of irrational methods, a Chinese scholar told the Global Times.

A US cargo ship (back) is seen at the Yangshan Deep-Water Port, an automated cargo wharf, in Shanghai on April 9, 2018. Photo: VCG

Out of favor

“Imagine the United States simultaneously engaged in trade wars with China, India, Pakistan, Thailand, the Philippines, Singapore, Ukraine, Mexico, Saudi Arabia, Chile, Brazil and Turkey,” said a report by the Axios news website in August 2018.

Axios has obtained a copy of a draft executive order Navarro put together in the fall of 2017 that would have imposed tariffs on every product imported from every country doing significant business with North Korea, according to Axios.

“Its death is thanks to — well, just about everyone. Officials at Commerce, State, Treasury, and the Office of the United States Trade Representative all considered the proposal totally unworkable,” Axios reported.

As long as he’s in the administration, there will be a persistent, noisy, enthusiastic voice for these kinds of tariffs, according to Axios.

In fact, Navarro was out of favor in the White House when he proposed the tariffs. The American website Vox Media recalled that in the fall of 2017, John Kelly, then White House chief of staff, began controlling advisers’ access to Trump by having Gary Cohen, director of the White House national economic council, restrain Navarro.

What did Navarro do? In order to get more direct contact with Trump, he often lurked in the West Wing of the White House at night and on weekends.

Navarro was named director of the newly established White House national trade council after President Trump’s election in 2016, and he remained director after it was transformed into the White House office of trade and manufacturing policy in April 2017. However, Navarro’s first year in the White House was difficult because Trump’s economic team was run by “globalists.”

An American with ties to Trump’s business team told the Global Times that Navarro did not have his own team in the first few months in the White House and had to attend meetings alone. Not only was he excluded from many high-level strategy meetings, he was also required to copy all work emails to Cohen.

However, two personnel changes in early 2018 gave Navarro an opportunity. In February, Rob Porter, a top political aide and White House staff secretary who was a key supporter of free trade, resigned over domestic violence allegations. In March 2018, Cohen resigned after Trump insisted on tariffs on steel and aluminum products.

Navarro was eager for the vacant position and went all out for it in private, but publicly pulled his punches and said he wasn’t competing for it, Politico reported.

Navarro eventually failed, but rose in stature. According to one American trade expert, Trump wanted protectionism, but almost everyone in the room disagreed.

Lü Xiang, an American issues expert at the Chinese Academy of Social Science, told the Global Times that Navarro’s role in the process of economic policymaking in White House was elevated after Cohen’s resignation. It is said that his annual salary was raised from second class to first class from March 2018, lower only than that of the President and vice president, which shows the appreciation with which he has been received.

In May 2018, the China-US high-level trade consultation was held in Washington.

A reporter at Bloomberg said the White House had not scheduled Navarro for the talks because of his inappropriate and unprofessional behavior. But Navarro criticized Steven Mnuchin, secretary of the US Treasury, in the media for giving too much ground in the talks. A few days later, Trump repudiated the negotiations and imposed taxes on $50 billion worth of Chinese products.

Given Navarro’s influence, Time magazine published an article in August 2018 saying that he does not have as much power as Mnuchin or the same responsibilities as trade representative Robert Lighthizer, but that his role should not be underestimated. If Stephen Miller, a controversial White House senior adviser, is the infamous player behind immigration, Navarro is the core leader of a series of much-criticized economic policies.

Unpopular loser

In published photos, Navarro looks somber, with a high forehead and gray hair.

He has a lot more to show for himself, with his Harvard degree, his doctorate and so on, but it is his paranoia that is his most memorable feature. In fact, Navarro originally wanted to be a politician, not an adviser, but he had a problem: people don’t like him.

Navarro was originally registered as a Republican, but ran unsuccessfully for office four times as a Democrat in the 1990s. He was once close to Nancy Pelosi, speaker of the United States House of Representatives, and former secretary of state Hillary Clinton.

When he ran for congress in 1996, then-president Bill Clinton opposed him. His defeat was devastating: his wife divorced him and he fell deeply into debt.

Until 2008, he was a supporter of Democratic politicians, especially Hillary Clinton. But in the election of 2016, Navarro became an adviser to Trump. Trump is said to have suffered without the help of economists, and his son-in-law Jared Kushner asked Navarro to join after searching Navarro’s book on Amazon.

Born into a working-class family, Navarro grew up with his mother and was a hard-working graduate of two prestigious universities, Tufts and Harvard. However, his experience can be described as changeable and ill-fated.

Lü argues that his life experience has led to Navarro’s perennial unhappiness, and that he will spare no effort to translate his absurd claims into concrete policies once he is promoted by a leader who approves of him.

Although he is valued by his leader, Navarro was not liked by his colleagues. According to some American media, Navarro has a tough personality, and can be unaccommodating and unpopular. Navarro is as rude as ever when Trump cannot hear, scolding and belittling those who disagree with him.

‘Spirit animal’

Navarro was called “President Trump’s spirit animal” by Axios news website, as many scholars and experts in economy poured scorn upon his ideas on trade.

“Peter is a fierce warrior for my father’s America First trade agenda, and while it may upset some members of the failed bipartisan establishment of the Washington Swamp, he understands that we can’t allow China to continue taking advantage of American workers and hollowing out our industrial base,” Donald Trump Jr. said in a statement to The Washington Post. “His only agenda is my father’s agenda and the White House is lucky to have him.”

Some media pointed out that Navarro is the president’s intimate friend only when they talk about tariffs.

Experts said that Navarro was away from the spotlight for a while but then came back with a madder attitude.

Navarro appeared on Fox news on June 13, criticizing China in many fields, including intellectual protection and currency.

Many of Navarro’s propositions on trade and economy are condemned as unreasonable. Many mainstream economists think he has created a new school of economics dubbed the “stupid school.” His theories usually go against the principles of economics and he has made basic mistakes. In his articles, he has confused tariffs with added-value tax, Lü said.

“While purportedly an economist by training, Navarro’s economics is misguided, inaccurate and politicized,” Stephen Roach, a faculty member at Yale University, and former chairman of Morgan Stanley Asia, wrote in an editorial for the Global Times in July 2018.

It is normal that China and the US have differences, as they have their own interests. Instead of offering constructive advice to deal with these differences, Navarro has acted more like a political agitator. China and the US have gone through 12 rounds of trade talks and are trying to find ways to reach a consensus. The actions of some politicians, including Navarro, remind us that certain politicians’ tricks have ruined the good momentum of the trade talks again and again, Chinese experts noted that the US society will eventually pay for these politicians’ wrong deeds.

By Liang Yan, Qing Mu and Fan Lingzhi, Wang Huicong contributed to the reporting Source link 

Headless Hawk

Peter Navarro Photo: IC

Peter Navarro: trade adviser or political agitator?

White House trade adviser Peter Navarro on Sunday accused China of committing the “seven deadly sins.” He said China must “stop stealing our intellectual property, stop forcing technology transfers, stop hacking our computers, stop dumping into our markets and putting our companies out of business, stop state-owned enterprises from heavy subsidies, stop the fentanyl, stop the currency manipulation” before the trade war comes to an end.

The “seven deadly sins” refer to the seven original vices in Catholic teachings. Such a metaphor reflects Navarro’s narrow-mindedness and psychological distortion. He wantonly hyped hatred between major powers, which is a real sin.

Navarro’s seven accusations against China are all clichés. The accusations are long-term China-US disputes and different definitions of the disputes. But of all remarks made by US officials on such differences, Navarro’s summary was the most vicious. It was not only ridiculous, but also full of hostility. His words have exposed the fact that his virtues can’t compare with his position. It is the woe of China-US economic and trade relations that such a person is hijacking the White House’s economic discourse power.

US media reported that Navarro is a key figure who has helped bring about the US decision to impose additional tariffs on Chinese products. He is a major spoiler contributing to the US breach of promises.

China has led its 1.4 billion people to prosperity and development. The country has not been involved in any war in more than 10 years, and has played a positive role in the UN’s climate action. As a trading power, China has made every deal with the US by mutual consent.

It is normal for China and the US to have different standpoints toward their disputes. Trade is mutually beneficial and China cannot force the US to have hundreds of billions of trade with it. This is common sense. By no means can Chinese people understand why the US could define China-US trade disputes in so many weird ways. The US side stubbornly insists on its values about interests, which are not suitable in current globalized world.

The two countries can improve trade balance by adjusting many practices. The Chinese side is willing to take into consideration some of the US’ concerns.

But wielding a tariff stick is unacceptable to China. Navarro said China-US trade won’t end unless China satisfies all the conditions. He speaks as if it’s only China’s one-side wish to end the trade war. Isn’t it boring to still threaten China so shallowly after one and a half years of trade war?

The fact is if the US side has no sincerity to reach a fair deal, China is prepared to fight the trade war to the end. China is being forced to do so, but it can do it well under pressure until the other side is discouraged.

It seems Navarro didn’t offer the president a technical solution to solving China-US differences. He behaves more like a political agitator. The two sides have gone through 12 rounds of trade talks through which negotiating teams work hard to find common ground.

But Navarro reminds us that some people’s political calculations keep impacting on the US negotiating position. American society will eventually pay for these people’s politics.

Source link 

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China warns the U.S. of tariff ‘countermeasures’

Poised for correction: A file picture showing a woman walking by an electronic stock board of a securities firm in Tokyo. After 10 years of continued rise in asset prices, markets are poised for correction. — AP

Tariffs are here to stay and likely to disrupt the 10-year economic cycle

IF investors ever needed a reminder that not all is right with the equities market, the shock waves the world capital markets, including Bursa Malaysia, had to endure earlier this week are proof enough.

Most stock markets are at the tailend of a 10-year bull run, although the same cannot be said for Bursa Malaysia which has generally has been more bearish than others in the last five years. Going by the current trends, Bursa Malaysia is likely to finish the year lower, which if it happens will be the fourth time in the last five years.

But the leading platform in the world which sets the pace for global flow of capital – the Wall Street – has been hitting new highs although it corrects from time to time largely due to the tweets from President Donald Trump.

Wall Street’s run started in May 2009 and seems to have the strength to carry on for a few more legs, defying conventional logic that economic boom-bust cycles corrects after 10 years. Other stock markets have had good and bad times since 2009 but the US has been consistently on the rise.

The benchmark Dow Jones Industrial Average, the Nasdaq and S&P 500, which charts the broader market, have all hit news highs. Bursa Malaysia on the other hand has languished between the 1, 600 and 1, 700 levels, with only one year of positive returns since 2014.

There are several reasons for Bursa Malaysia’s poor performance compared with other markets. For instance, the United States slashed tax rates, which spurred earnings of companies and has the best technology companies listed there. It’s not the same elsewhere in the world.

Nevertheless, after 10 years of continued rise in asset prices due to the combination of a low interest rate environment and advancement in technology, the markets are poised for correction. Until earlier this week, nobody had an inkling of an idea where and how the correction will take place.

However, after President’s Trump latest statement that the US would impose 10% tariff on an additional US$300bil worth of exports from China, it clearly underlines that the trade war is here to stay.

If anybody had a view that the trade war would end if President Trump does not retain his position in the US elections next year, they are wrong. Even some Democrats are leaning towards imposing tariff as measure to help the US keep its competitive edge in the world economy.

Reverse globalisation is no longer a bad word in world trade.

A 25% tariff has already been imposed on US$250bil worth of China’s exports to the United States since March this year.

It is bringing in billions to the US coffers with some going towards helping the farmers overcome the woes of the trade war. The person who takes over from Trump is not likely to dismantle the structure.

Any other president will want to get more from China, which is led by the influential President Xi Jinping, who is seen as the most powerful man that rules the second biggest economy in the world after the late chairman Mao Zedong.

China has retaliated by imposing tariffs on US$110bil worth of imports from the US so far including the produce from farms. It has also allowed the yuan to weaken, sparking concerns that the trade war is evolving into a currency war.Latest data from China shows that the exports are still growing and imports dropping in July even though there is a trade war, suggesting that President Xi will not yield to pressure from the US easily.

A new cold war in the form of the trade war has emerged. As a result, it has caused upheavals in the capital markets that should worry investors.

There have been significant shifts in asset prices from bonds to equities and commodities such as oil. Among all asset classes, dramatic movement in bond prices of government debt papers is the first to feel the impact from the trade war.

This is on the back of increasing certainty that the Federal Reserve and other major central banks will reduce interest rates more aggressively to stimulate the sagging economy. It has caused for money to seek safe haven such as US government debt papers.

For instance the yields on the 10-year US debt paper is 1.69% now. It was 1.9% a week ago and 2.06% a month ago. The yields moves inversely with the price of the bonds.

The yields on the five- and two-year government debt papers have also moved by up 18 points in the last one week. Such movements on billions of dollars will have an impact in the months to come.

The trade war has caused a major disruption in the global supply chain, evidence of the economy slowing globally.

If anybody wants any evidence of the disruption in global supply chain, they only need to go to the KLIA cargo complex and see for themselves the number of idle lorries that do not have enough cargo to move about.

In Malaysia’s case, apart from a slowdown in movement of goods around the world, the uncertainties in Hong Kong have exacerbated the situation.

The combined effects of the trade war, China’s economic uncertainties and Hong Kong’s future as Asia’s financial hub will only be felt in the fourth quarter of this year.

Until then, asset prices will continue to adjust to the new norm.

The views expressed here are solely that of the writer. Source link 

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Plan B that the company has long prepared, could be used at any time if
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The cost and funding of the Hong Kong violence in CIA innumerable US regime-change, a price on freedom


Protesters in protective gear holding up a symbolic yellow umbrella and an American flag while marching through the Sha Tin District in Hong Kong earlier in the month. Sights such as these are fuelling  speculation about foreign involvement in the ongoing protests. — AP

https://youtu.be/huXI39jtq1sThousands rally to denounce violence and support Hong Kong police

https://youtu.be/tOw6kfhS1NsAnnie Wu: Young HK people need to learn to become Chinese

There’s no such thing as a free lunch, and likewise, in the pursuit of democracy, there will always be casualties.

ONE of the most avid speculations about the Hong Kong protests is whether the CIA is involved, and this talk is fuelled, no less, by warnings from the Chinese to the US to keep out of Hong Kong’s affairs.

Last week, former HK chief executive Tung Chee-hwa was more ominous, openly accusing the US and Taiwan of orchestrating “well-organised” recent protests.

The first retaliatory strike from China on Taiwan was the ban on solo travellers, involving 47 mainland cities to Taiwan, which will cost the island state US$900mil (RM3.75bil) in tourism dollars by January.

Let’s look at these accusations rationally, though. It’s impossible for the CIA to hire such a massive crowd in Hong Kong.

The anger is real, though, and the spontaneity of the protests speaks for itself.

There has been growing frustration among the people, especially the younger generation, over what they see as the decline in living standards, and many now don’t see a future in the city.

The amendment to the Extradition Law has touched a nerve among HK citizens because many perceive they would not get justice or due legal rights under China’s mainland rule.

Let’s put it this way, the judicial independence in China isn’t ranked highly by international standards, and even Chinese nationals complain about it.

HK citizens are concerned that their city will be like any other mainland Chinese city, where the citizens’ freedom could be compromised, although one wonders how many of these protesters truly believe they would ever get extradited to China in the first place.

The Bill is, essentially, a manifestation of the frustrations that have built up, and its timing allowed for that volcanic eruption of anger.

It’s unlikely the young protesters were aware that HK has, in fact, extradition agreements with 20 countries, including Britain and the United States. From China’s point of view, why can’t there be one with the mainland?

Against this backdrop, with students on summer holidays, the perfect concoction was created, building up a massive protest for an international audience.

The timing couldn’t have been worse for HK chief executive Carrie Lam to push the Bill through – this is the season of protests, coinciding with the anniversaries of the Tiananmen Square incident and British handover of HK to China on July 1, 1997.

By now, it’s clear that Lam is a technocrat who isn’t politically savvy, and her lack of learned leadership during a crisis shows her shortcomings in being the best person to helm HK, even though China continues to back her.

The Bill has been suspended since June 15 until further notice, but not withdrawn. She has said the legislation process was a complete failure and that “the Bill is dead”, but she hasn’t enacted any legislative process to withdraw the proposal either.

So protests will likely continue, but nothing is free, and that includes the business of organising well-planned weekly protests.

Over the past month, the media has been reporting that groups involved in the protests have received significant funding from the National Endowment for Democracy (NED), “a CIA soft-power cut-out that has played a critical role in innumerable US regime-change operations, ” according to writer Alexander Rubinstein.

The report claimed that the NED has four main branches, at least two of which are active in Hong Kong: the Solidarity Center (SC) and National Democratic Institute (NDI).

“The latter has been active in Hong Kong since 1997, and NED funding for Hong Kong-based groups has been consistent, ” Louisa Greve, vice president of programmes for Asia, Middle East and North Africa, was quoted.

While NED funding for groups in Hong Kong goes back to 1994, 1997 was when the British returned the territory to China, it was reported.

The report said in 2018, NED granted US$155, 000 (RM645, 885) to SC and US$200, 000 (RM833, 400) to NDI for work in Hong Kong, and US$90, 000 (RM375, 000) to Hong Kong Human Rights Monitor (HKHRM), which isn’t a branch of NED, but a partner in Hong Kong. Between 1995 and 2013, HKHRM received more than US$1.9mil (RM7.9mil) in funds from the NED.

This isn’t the first time the NED’s name has cropped up either.

During the 2014 Occupy protests, the spectre of NED in the protests and the foreign philosophies it represented also came up.

The NED was set up in 1983 to channel grants for “promoting democracy” and it’s said that it receives US$100mil (RM416mil) annually from the relevant agencies.

Hong Kong media tycoon Jimmy Lai has also been accused of funding the protests. He has taken it a step further by meeting US Vice President Mike Pence and Secretary of State Mike Pompeo in Washington DC to discuss the Bill and the city’s situation.

Lai is the owner of Next Digital, which publishes both the pro-democracy Apple Daily and Next Magazine, among others.

Predictably, the Chinese Foreign Ministry in Hong Kong issued a statement saying it has lodged a solemn representation at the US Consulate General in Hong Kong to ask the US to stop its “mistaken words and deeds”.

A spokesperson for the local Commissioner’s Office said that it strongly opposed foreign forces interfering in Hong Kong’s affairs.

“The US side clearly knows who Jimmy Lai is, what his stance is, and what his role is in Hong Kong society. Top US government officials have ulterior motives and sent a seriously wrong signal when they queued up to meet such a person at this sensitive time of Hong Kong – we express our strong discontent and opposition, ” it said.

In 2014, the South China Morning Post reported that Lai spent millions funding the Occupy Central protests.

The SCMP reported that Lai’s group offered extensive advice – including propaganda material – to the Occupy Central organisers, whom Lai dismissed in private as “idealist scholars” who “couldn’t make the cut without help”.

The emails were leaked by the same person who sent documents detailing the Next Media chairman’s political donations to various pan-democrats two weeks ago. It isn’t clear how the documents were obtained, though.

One of the exchanges between Lai and his top aide, Mark Simon, indicates that Lai spent some HK$3mil (RM1.6mil) to HK$3.5mil (RM1.8mil) to help the plebiscite. The email did not detail how the money was spent, only mentioning that the costs included “advertisements and billboards”.

In a rebuttal, Lai said that while he had donated large sums of money to politicians in the pro-democracy camp, he had not given a cent to the co-founders of Occupy Central. His newspaper, though, had given the movement discounts for advertisements.

China cannot be faulted for seeing shadows of foreign influence in the protests. It doesn’t help that protesters, pressing for independence, are waving colonial British and US flags, and what began as peaceful protests has now degenerated into riots, a term the demonstrators have also challenged and protested.

There is much irony in the HK protests. The late kung fu legend, Bruce Lee, has become an icon in the protests because of his philosophical advice to “be formless, shapeless, like water, ” in his role as Li Tsung, a martial-arts instructor in Longstreet, a US TV series.

Basically, the protesters should take on the HK police with a new tactic: formless, shapeless protests in scattered parts of the territory, aimed at wearing the authorities down.

But older folks like me would probably remember a better scene in the movie Fist Of Fury, where he kicked and smashed a sign at the gate of Huangpu Park which read, “No dogs and Chinese allowed”. The park in Shanghai was closed to the Chinese between 1890 and 1928.

It has been said, according to some reports, period photographs show a sign listing 10 regulations, the first of which was that “The Gardens are reserved for the Foreign Community”, with the fourth being “Dogs and bicycles are not admitted”. Any way you cut it; the Chinese weren’t allowed in the foreign settlement.

What has happened in HK is that the protests’ demands have grown exponentially, bordering on calls to be independent and free from China. Tragically, it has also become more violent by the day.

In calling for freedom of speech, citizens who disagreed with the protesters have found themselves beaten up, which seems to go against the grain.

When violence committed on the police and those who disagree are embraced or encouraged as part of a democratic process, and the destruction of public properties is accepted as a minor price for freedom, then something has gone badly wrong.

By Wong Chun Wai who began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

chunwai@thestar.com.my

http://www.wongchunwai.com/

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All countries, including Malaysia, losing in US-China trade war


“The US may settle into the malaise it found itself in, during the 1970s, before the present wave of globalization. It may survive but not thrive,’’ said Pong Teng Siew(pic) head of research, Inter-Pacific Securities.

THE International Monetary Fund (IMF) may have identified China as having more to lose in the US-China trade war, but the real loser is the world which has become economically more dependent on China.

The initial impact is seen in emerging economies, where a fresh slowdown in the world economy has been concentrated.

Asian economies, in particular, will feel the pressure from slowing Chinese demand for their exports.

Commodity producing countries will also suffer as prices decline in the wake of sluggish demand from China.

In 2016 and 2017, China’s share of world demand came to 59% of cement, 56% of nickel, 50% each of coal, copper and steel, aluminium (47%), cotton (33%), rice (31%), gold (27%), corn (23%) and oil (14%), said Visual Capitalist that publishes data using visual methods.

While the IMF, in its half-yearly World Economic Outlook, had upgraded its forecast of US growth this year from 2.3% to 2.6%, it had downgraded China from 6.3% to 6.2%.

Growth expectations for emerging and developing economies is now cut, since April, by 0.3 percentage points to 4.1% this year.

China’s economy grew at an annual pace of 6.2% in the second quarter, the weakest in nearly three decades, while exports rose by just 0.1% in the first half.

Throughout the closely linked supply chains, these weak exports which registered the biggest drop to the US, also dampened demand for imports of components used in finished products.

Increasingly vulnerable to any slowdown in China, dubbed the Asian powerhouse, is the Association of Southeast Asian Nations (Asean) economic bloc, for which China was the biggest trading partner.

Trade between Asean and China hit US$587.87bil last year.

As there are expectations for Chinese growth to slide between 5% to 6%, the rest of Asia which have prioritized trade with China, may have to look elsewhere for growth.

Making matters worse, there will be no more super stimulus programme such as the US$586bil unleased after the 2008 financial crisis, which had a positive impact across the export-oriented region.

“There are, therefore, concerted efforts to try and resolve the US-China trade war,’’ said Nor Zahidi Alias, associate director of research, Malaysian Rating Corp.

But Asean is already a recipient of trade investment diversions from China, and it is likely that Asian countries will ramp up efforts, including improvement in infrastructure and the ease of doing business, to attract foreign direct investments from the United States and China.

In the short term, China, being a large trading nation, may have more to lose but it is already transitioning away from being dependent on trade.

Consumption had contributed to more than 60% growth in China during 11 out of 16 quarters from January 2015 to December 2018, said CNBC, quoting a July report by McKinsey.

Indicating its increased self-reliance, China had exported only 9% of its output in 2017, compared with 17% in 2007, the study found.

The three groups with most exposure to China are the Asian economies within the global supply chain (South Korea, Singapore, Malaysia, the Philippines and Vietnam); the resource rich countries that export to China (Australia, Chile, Costa Rica, Ghana and South Africa); and emerging markets with investments from China (Egypt and Pakistan).

The trade war has complicated China’s efforts to find a balance between sustaining decent growth and tackling problems of high corporate debt and massive shadow banking risks.

As a result, these ‘highly dependent’ countries will probably have to suffer more.

In the end, nobody gains especially those that want to ‘hide’ behind tariff walls, de-globalise and move away from the current global interdependence and integration.

The effects of de-globalisation can be serious.

Think of a 1970s type of scenario, said to be the worst decade for the US economy which, since the Great Depression, had experienced the worst downturn from November 1973 to March 1975.

“The US may settle into the malaise it found itself in, during the 1970s, before the present wave of globalization. It may survive but not thrive,’’ said Pong Teng Siew head of research, Inter-Pacific Securities.

The current wave of globalization is said to feature modern technology and global democratic processes, with increased movement of capital and adoption of free trade.

Consumers will be the ultimate loser; they have to face a decade or more of higher prices (on US and retaliatory tariffs) with little or no compensating increases in employment and income.

The huge job cuts happening around the world, with talk nearer home of layoffs and headcount freezes in the Singapore semiconductor industry, should give us an indication of some potentially alarming consumer downtrends.

By Columnist Yap Leng Kuen, who reckons nobody should be under the illusion that he is the winner. The views expressed here are solely that of the writer.

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The cradle of Chinese leadership



Westerners do not understand how vital a competent government is in China.

中国政府有时就像家长,既要赚钱养家又做好榜样

Set in stone: Staff members walking near a statue at the Party School of the Central Committee of the Communist Party of China in Beijing as the party opened its leading school for cadres to a rare visit by foreign journalists. — AP

It is back to school for thousand of cadres of the national party to brush up on the country’s progress.

EVERY year, thousands of party cadres from the Communist Party of China (CPC) returned to school to learn about the latest direction of the country as it progresses.

At the Party School of CPC Central Committee (CCPS) – the key cradle of China’s leaders – the trainees are taught Marxism classics, moral and conduct while receiving anti-corruption education.

They are also exposed to the latest in technology and various skills to lead the rural villagers out of poverty as the nation is striving towards its “Chinese Dream” of building a well-off society for all.

Located opposite the Summer Palace in Beijing, the school also conducts training and guidance to improve the governing ability of cadres while motivating them to serve as firm followers and loyal practitioners of Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era.

Just last year, 137 training sessions were organised for nearly 11,000 cadres all over the country.

The school opened its door to a group of foreign journalists recently.

We were led to a class which was in progress and the trainer, who requested to remain anonymous, was giving a lecture on various tra­n­s­formation and innovation prog­rammes to improve the environment and livelihood of rural villagers.

During the short visit, we listened in on the trainer telling cadres about the use of flush toilets.

For many of us, we have taken for granted the availability of flush toilets in our homes or offices.

But for those dwelling in the mountainous areas far from water sources in China, this sanitary ware is a luxury.

The locals from a village in Shangdong have invented their own “dry toilet” in which they covered up waste with organic materials.

“The toilet does not stink at all and it is environmentally friendly.

“A little effort makes big changes in improving the environment and the people’s lives,” the trainer told the cadres, believed to be grassroots leaders from the rural areas.

The trainer also told the class the story of a village in Tonglu of Zhejiang province where the locals turned their rural agricultural home into a famous tourist spot.

He said the locals successfully transformed an abandoned pig pen into a popular cafe.

“There is a very expensive type of coffee known as mao shi kafei (Indonesia’s kopi luwak) in the world.

“If rich people can sit at a stinking pig pen while tasting a cup of expensive coffee, isn’t this another way of enjoyment?” asked the trainer.

He was motivating the class cadres to be creative and to transform abandoned poultry farms into money-making businesses as well as preserve old buildings that have witnessed special events.

The trainer also showed the class modern farming techniques known as the Integrated Rice-Duck Farming by raising ducks in the paddy field.

“With modern technology, we are able to calculate the suitable number of ducks for a paddy field of a particular size and the timing of releasing the birds,” he added.

With over 100 trainees but only a handful of female cadres, the class also learned about homestay and handicraft-making programmes.

In a tea session with the media, vice-head of academic affairs of the school, Wang Gang said currently, there are some 1,600 cadres undergoing training at the campus.

Asked why men outnumbered women trainees by a large margin, Wang Gang said they have another programme catering for female cadres.

He, however, did not elaborate.

The CCPS – also known as China National Academy of Governance – was set up in 1933, 12 years after the founding of the CPC.

Over the decades, it has groomed a large number of governing elites and talent for the party and the country.

State leaders such as the late Mao Zedong, Liu Shaoqi and Hu Jintao have served as its president.

The CCPS campus houses a museum, a sports centre with various facilities including swimming pool, squash court, ping pong tables and a gym for the trainees, who are required to stay in the campus throughout their training period.

Apart from providing training to the cadres, the CCPS also serves as a high-end think-tank for the party and a national research institution for philosophy and social science.

It has also taken part in exchange programmes and activities with political parties from 159 nations, 21 international and multilateral organisations.

Last year, the school received 1,248 visitors.

CPC, with over 90 million members, is the biggest political party in the world.

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The founder of modern China chairman Mao Zedong.

 

 

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