Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Monday, 16 January 2012
Cameron And Osborne Kow Tow To China
Looking around the web came across a post by Automatic Earth that takes a look at the UK Economy and does not like what it sees. It is a longish item but worth looking at, if only because soon others may become very nervous.
http://theautomaticearth.blogspot.com/2012/01/january-16-2012-quo-vadis-britannia.html
The part which discusses the Incredible Shrinking UK Economy is of special interest. Especially, in the news put out today about the future of the City of London, put over as good tidings.
The City of London is set to be the world epicentre for trading in the Chinese yuan/renminby money and financial sector. In other words while the previous government bet the house on one set of currencies and trading this government is placing the same bet on another.
For those with the time and interest to scout the web for information on the 19th century history of the Chinese Concessions the notion that the government of China may not just have a foot in the door but may be in occupation of the main hall of the building is not good news.
I have remarked before about the potential for an Honourable West European Company of China bent on economic and trading control and this may just be the beginning.
The picture above is of a British master mariner trading in Hong Kong in 1830. Beside me I have the cash box of another like him who was there at the same time and making his money in trading.
So will the contents of this cash box now depend on China in a very different way?
Monday, 27 June 2011
Turandot Saves The Euro
It is quite simple, honoured sir, you answer three riddles successfully and you get the girl with all the wealth of China behind you to live more (or less) happily ever after or until the next big earthquake.
If you fail to answer any of them correctly then we chop off your head and dispose of the remains accordingly.
The first riddle is how much do you think we think you have got and are good for?
The second riddle is that if you answer the first how long do you think we will give you to pay it back and what security will we demand in the meantime?
The third riddle is………………
Thursday, 25 November 2010
A Chinese Junk Economy

In New Providence in the Commonwealth of The Bahamas by Nassau is Paradise Island. It is where the Atlantis complex is situated and is now an over built and under resourced tourist development that occasionally makes the headlines when this or that celebrity does something to attract the media.
Nassau is a place where there are a lot of casinos and offices of a great many banks. These days it can be difficult to tell which is which. At least in the casino you might have a chance of winning, not much perhaps, but better than your chances with any of the banks.
It is about a hundred miles from the coast of Florida and there are flights to Miami, Fort Lauderdale and other places described as regular. However, nothing is regular at Nassau airport, unless you know the right porter. A good many of the big cruise ships call for people to wander about looking for expensive souvenirs and places to lose money quickly and easily.
On Channel 4 TV is a short fiction series “Any Human Heart” which in the next episode may be the part where the major figure, Logan Mountstewart, is there working in intelligence and keeping tabs on the erratic and unwise Duke and Duchess of Windsor who were there during the War. It suggests a corrupt and near criminal society bent on personal gain.
That was a long time ago and things have changed, one way or another. Basically, it became an American playground and despite being a former British colony latterly has based its currency on the dollar and in independence has been an off shore tax haven largely linked to American interests.
According to an article in the Nassau Guardian times have changed again. The Chinese have arrived big time as a consequence of complicated deals and have begun to call the shots through a major new development.
http://www.thenassauguardian.com/China-putting-the-squeeze-on-The-Bahamas
The Baha Mar project for several hotels and casinos on Paradise Island has a number of items on the web for added information.
Back in 1962 when Soviet Russia tried to establish itself in Cuba it provoked a major crisis which might have led to World War Three had it all gone wrong. Today with China holding a great deal of the USA’s international debt there has been no complaint about their arrival in the Caribbean. Their interest is unlikely to stop at Paradise Island.
Whether this is the first time the Chinese have been on the American East Coast is the subject of a lively debate over the claims about an expedition of 1421 by the Chinese navy. There is www dot 1421 dot tv on the one hand and www dot 1421exposed dot com on the other. By the 18th century it had become a base for extensive pirate activity.
More recently it is the arrival of large numbers of Haitians that have changed the shape of the Bahamas and this is likely to continue. It has impacted on the labour market and might explain why the Bahamas government need to grasp at any form of new employment. The interest of the Chinese government could literally be a life saver in many respects.
In the time of the British, the island was called Hog Island and the name was changed to Paradise Island to make it more tourist friendly.
Perhaps the ghosts of the hogs and pirates of old have not really gone away.
Nassau is a place where there are a lot of casinos and offices of a great many banks. These days it can be difficult to tell which is which. At least in the casino you might have a chance of winning, not much perhaps, but better than your chances with any of the banks.
It is about a hundred miles from the coast of Florida and there are flights to Miami, Fort Lauderdale and other places described as regular. However, nothing is regular at Nassau airport, unless you know the right porter. A good many of the big cruise ships call for people to wander about looking for expensive souvenirs and places to lose money quickly and easily.
On Channel 4 TV is a short fiction series “Any Human Heart” which in the next episode may be the part where the major figure, Logan Mountstewart, is there working in intelligence and keeping tabs on the erratic and unwise Duke and Duchess of Windsor who were there during the War. It suggests a corrupt and near criminal society bent on personal gain.
That was a long time ago and things have changed, one way or another. Basically, it became an American playground and despite being a former British colony latterly has based its currency on the dollar and in independence has been an off shore tax haven largely linked to American interests.
According to an article in the Nassau Guardian times have changed again. The Chinese have arrived big time as a consequence of complicated deals and have begun to call the shots through a major new development.
http://www.thenassauguardian.com/China-putting-the-squeeze-on-The-Bahamas
The Baha Mar project for several hotels and casinos on Paradise Island has a number of items on the web for added information.
Back in 1962 when Soviet Russia tried to establish itself in Cuba it provoked a major crisis which might have led to World War Three had it all gone wrong. Today with China holding a great deal of the USA’s international debt there has been no complaint about their arrival in the Caribbean. Their interest is unlikely to stop at Paradise Island.
Whether this is the first time the Chinese have been on the American East Coast is the subject of a lively debate over the claims about an expedition of 1421 by the Chinese navy. There is www dot 1421 dot tv on the one hand and www dot 1421exposed dot com on the other. By the 18th century it had become a base for extensive pirate activity.
More recently it is the arrival of large numbers of Haitians that have changed the shape of the Bahamas and this is likely to continue. It has impacted on the labour market and might explain why the Bahamas government need to grasp at any form of new employment. The interest of the Chinese government could literally be a life saver in many respects.
In the time of the British, the island was called Hog Island and the name was changed to Paradise Island to make it more tourist friendly.
Perhaps the ghosts of the hogs and pirates of old have not really gone away.
Saturday, 20 November 2010
Peak Of The Week

Perhaps I ought to have a regular feature “Peak of the Week” in which yet another tipping point in the human consumption of primary resources may have been reached.
The latest one would be the matter of coal production and consumption in China. One of the critical factors in the growth of the Chinese economy in recent decades has been the rapid increase in coal production to fuel power, chemicals and the general economy.
China is now one of the major producers of goods and equipment in the world. With its financial policy of manipulating the currency exchanges to maintain an advantage in the terms of trade it has run a large balance of payments surplus for some time.
It is this surplus that has enabled it to prop up the finances of the USA by buying in so much of its debt and giving it a grip on US policy making and economic management.
The article in question, also quoting the Wall Street Journal is:
http://europe.theoildrum.com/node/7123#more
It is long, complicated and packed with diagrams and figures. But the baseline is that if China cannot continue to produce ever more coal and if to maintain production will mean both running down reserves and much higher costs then what?
What may mean is that it becomes impossible either to sustain the past rates of growth or the relevant economic and financial policies or much else. This could emerge sooner than most people think.
I see the weather is turning cold next week.
The latest one would be the matter of coal production and consumption in China. One of the critical factors in the growth of the Chinese economy in recent decades has been the rapid increase in coal production to fuel power, chemicals and the general economy.
China is now one of the major producers of goods and equipment in the world. With its financial policy of manipulating the currency exchanges to maintain an advantage in the terms of trade it has run a large balance of payments surplus for some time.
It is this surplus that has enabled it to prop up the finances of the USA by buying in so much of its debt and giving it a grip on US policy making and economic management.
The article in question, also quoting the Wall Street Journal is:
http://europe.theoildrum.com/node/7123#more
It is long, complicated and packed with diagrams and figures. But the baseline is that if China cannot continue to produce ever more coal and if to maintain production will mean both running down reserves and much higher costs then what?
What may mean is that it becomes impossible either to sustain the past rates of growth or the relevant economic and financial policies or much else. This could emerge sooner than most people think.
I see the weather is turning cold next week.
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