Bitcoin crashes on minor news from China
"The news that came out of China was very minor: Chinese authorities didn’t instate any new restrictions on cryptocurrencies this week.
[...] The list of prohibitions for finance and payments providers is longer and more comprehensive, compared to the 2017 rules, but they broadly refer to the same types of activities"
--- Too many morons in the crypto business, it seems, even more than in shares.
Bitcoin price falls after China calls for crackdown on bitcoin mining and trading behavior
"The statement, released late Friday in China, said it is necessary to “crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field.”"
--- Now, that is something that might have some actual effect. But, as usual in China, policy statements alone don't mean jack. Only if there is action on the ground, it will become a problem for miners. Even then, though, it shouldn't have much of an effect on Bitcoin itself. Some Chinese miners will go deeper underground, many others will shift their business to other countries.
Hong Kong to restrict crypto exchanges to professional investors
"Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city’s markets regulator and will only be allowed to provide services to professional investors"
--- That could have a bigger effect than any of the Chinese nonsense this week. But, again, these exchanges seem to be rather flexible in where they operate. So, they could move their business quickly.
"According to Hong Kong law, an individual must have a portfolio of HK$8 million ($1.03 million) to count as a professional investor."
--- Wanna be a millionaire...
"China on Tuesday announced a tougher ban on banks and payment companies offering crypto-related services"
--- No, it didn't. Reuters is really getting on my nerves now.
cf.: China crypto players shrug off Beijing’s latest crackdown
China’s push for the digital yuan could drive up demand for cryptos, analyst says
"With many Chinese entrepreneurs and consumers clearly aware of the government’s intention to exert absolute authority over personal assets, the trend of converting at least part of one’s wealth into crypto assets will continue despite crypto’s inherent volatility"
--- Yep. Just like now, Chinese will be very inventive when it comes to bringing their money abroad.
Chinese authorities order video denials by Uyghurs of abuses
"The videos, which officials have insisted are spontaneous outpourings of emotion, have also featured prominently in a series of government news conferences held for foreign media.
[...] Sent in January to government offices in the northern city of Karamay, the text told each office to find one Uyghur fluent in Mandarin to film a one-minute video in response to Pompeo’s “anti-China remarks.”"
--- Well, it was pretty obvious to any China watcher that these videos were far from spontaneous, but it's nice to have proof.
"“Express a clear position on Pompeo’s remarks, for example: I firmly oppose Pompeo’s anti-Chinese remarks, and I am very angry about them,” the text said. “Express your feelings of loving the party, the country and Xinjiang (I am Chinese, I love my motherland, I am happy at work and in life, and so on).”"
--- Ah, the spontaneity!
"“People don’t know who Pompeo is or what he’s saying,” Imin said. “How would they know what Mike Pompeo is saying about the Uyghurs?”"
--- That's one of the reasons why China watchers distrusted these videos. Inside China there are virtually no reports of genocide in Xinjiang or that Pompeo talked about it.
China's construction boom is sending CO2 emissions through the roof
"The CO2 surge reflects a rebound from coronavirus lockdowns in early 2020, but also a post-Covid economic recovery that has so far been dominated by growth in construction, steel and cement
[...] Beijing has signaled, though, that it wants to cut down on emissions this year."
--- Chinese signalling. I'm impressed. That must mean the CCP is really, really serious. Definitely.
"The government has also imposed strict climate targets this year, and local governments have rolled out harsh production cut targets for heavily polluting industries, such as steel"
--- Funny, though, that despite those 'harsh cut targets' steel production is breaking new records.
Pentagon chief unable to talk to Chinese military leaders despite repeated attempts
"Despite the tensions and heated rhetoric, U.S. military officials have long sought to have open lines of communication with their Chinese counterparts to be able to mitigate potential flare-ups or deal with any accidents"
--- As usual, the CCP is totally open & inviting to communication with foreign officials. They just need to kowtow to emperor Xi first.
Sri Lanka: Covid increases China influence in India's backyard
"Beijing's Belt and Road initiative, a sweeping infrastructure project that aims to expand global trade links"
--- More like: a sweeping infrastructure project that aims to expand China's global influence & power.
China's obsession with financial secrecy is causing problems overseas ... even when it's giving $55M away
"a spokesperson for China's Foreign Ministry said "a modern fishing pier" had been a "long-cherished wish" of the people of Sierra Leone since the 1970s"
--- Yes, another long-cherished wish of all Africans has been to become loyal subjects to emperor Xi & willing slaves of the CCP. Come, emperor Xi & take us into your benevolent arms!
"It's no surprise that the 'debt trap' narrative has proven so durable in Africa," Van Staden added. "Even as its specifics have been debunked many times"
--- Debunked? Must be the joke of the day.
Beijing’s Woke Propaganda War in America
"Few people in the United States refer to the Chinese supreme leader by his real title, and the only one that matters: General Secretary of the Chinese Communist Party, who is without an exception a die-hard communist ideologue in command of a ruthless Leninist Dictatorship of the Proletariat"
--- Wrong. The correct title is emperor, in command of a benevolent heavenly empire.
"The primary method of Mao’s brainwashing in Yenan was “consciousness raising,” which has become since the 1960s the main strategy of the American Left, especially the radical American feminist movement."
--- Hmm, well, maybe. But the Critical Theory, which seems to reign supreme in lefty circles of the US at the moment, is quite different, I think. There are loads of useful idiots for the CCP in the West, but for a variety of reasons. Not sure, the CCP would be happy with Critical Theory in the long run.
China Mars Rover Animation Appears to Copy NASA Video Shot for Shot
Less Forest, More Species: Climate Change Drives Declining Biodiversity in Tibet’s Mountainous Regions
New England Pats give flight to China’s vaccine diplomacy
UK's Johnson tells China: We believe in rule of the sea
Two Chinese provinces hit by earthquakes, with two reported dead
--- China Uncensored features the weekend news variety:
--- Yahoo: "Bitcoin tumbles as China doubles down on mining crackdown"
--- ABC News: China’s Muslim refugees say they are victims of slave labor
--- WION: Gravitas | COVID origins: New claims reignite Wuhan lab leak theory
--- France 24: Leaving Hong Kong: The young activists going into exile
China kritisiert Stopp durch EU-Parlament
"Die Entscheidung des Europaparlaments, die Beratungen über das Investitionsabkommen mit China auszusetzen, sei arrogant, die Forderung nach Aufhebung der chinesischen Sanktionen - darunter gegen mehrere EU-Parlamentarier - nicht akzeptabel"
--- Sehr gut. Dann bleibt ja die Hoffnung, daß das Ganze tatsächlich tot & begraben ist. Wenn nicht eine völlig durchgedrehte EU-Kommission doch auf den totalen Kotau setzt.
"Das Europaparlament hatte die Beratungen über das Abkommen am Donnerstag auf Eis gelegt - wegen der von China gegen mehrere EU-Parlamentarier und Wissenschaftler verhängten Sanktionen. Erst wenn diese aufgehoben seien, könnten die Beratungen wieder aufgenommen werden"
--- Was blöd genug war. Aber die Arroganz der KPCh macht es wohl doch permanent.
Progressive Abgeordnete protestieren in den USA gegen Anti-China-Politik - Angst vor Rassismus und Hass
--- Zuviel Genderei für mich, daher kein Zitat.