China to build on disputed Scarborough Shoal this year: Report

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Chinese surveillance ships are seen off Scarborough Shoal in the South China Sea

 

Beijing will start construction this year on a South China Sea islet within the Philippines’ claimed exclusive economic zone as it seeks to project its power in the disputed waters, Hong Kong media reported Monday.

China will establish an outpost on Scarborough Shoal, 230 kilometres (143 miles) off the Philippine coast, the South China Morning Post newspaper cited an unnamed source close to the People’s Liberation Army as saying.

Beijing claims nearly all the strategically vital sea, despite competing claims from several Southeast Asian neighbors, and in recent months it has developed contested reefs into artificial islands, some topped with airstrips. Continue reading

China Expanding Regional Nuclear Forces

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Military vehicles carry HQ-6A surface-to-air missile batteries during a parade / AP

 

New cruise, ballistic missiles increase danger of war, report says

China is developing a nuclear-armed air-launched cruise missile as part of a military buildup of both its regional and long-range nuclear forces, according to a forthcoming congressional commission report.

A final draft of the annual report of the U.S.-China Economic and Security Review Commission presents a dire picture of advancing Chinese military capabilities and declining relations with the United States. Continue reading

Panicked super rich buying boltholes with private airstrips to escape if poor rise up

In case you missed the memo (article updated):

 

With growing inequality and riots such as those in London in 2011 and in Ferguson and other parts of the USA last year, many financial leaders fear they could become targets for public fury.

Robert Johnson, president of the Institute of New Economic Thinking, told people at the World Economic Forum in Davos that many hedge fund managers were already planning their escapes.

Continue reading