China tells world: It’s us or the United States ahead of President Trump’s Davos speech

US President Donald Trump and Chinese counterpart Xi Jinping have competing interests on the world stage. Picture: Fred Dufour/AFP

US President Donald Trump and Chinese counterpart Xi Jinping have competing interests on the world stage. Picture: Fred Dufour/AFPSource:AFP

 

CHINA has given the world a blunt choice by asking global leaders to choose between Xi Jinping’s global outlook and that of US President Donald Trump.

In a strongly worded editorial by the state’s news agency, Beijing said the world needed to choose between “two fundamentally different outlooks” which included the Chinese President’s shared future and Mr Trump’s America First policy.

Continue reading

China is about to hold a giant meeting on spending billions to reshape the world

 

China has rapidly climbed the ranks to become the world’s second-largest economy. Now, the most populous nation on the planet wants to increase its influence by digging further into its pockets — flush with cash after decades of rapid growth — to splash out with its “One Belt, One Road” policy.

The initiative is meant to connect Asia, Europe, the Middle East and Africa to bolster trade and development. This weekend, hordes of foreign diplomats and business leaders are expected to descend on Beijing for a two-day meeting about the policy.

Here’s what you need to know:

What is “One Belt, One Road?” Continue reading

China eyes global economic leadership as U.S. turns inward

In this photo taken Wednesday, Nov. 23, 2016, Kenyan laborers and a Chinese foreman work to finish the construction of an existing bridge that goes across a corner of Nairobi National Park in Nairobi, Kenya. A controversial Chinese-built railway project involving an even larger 6km bridge that would go all the way over the beloved protected area in Kenya’s capital has divided conservationists in this East African country. (Photo: Ben Curtis, AP)

 

This year, a 300-mile railway will begin slicing through Kenya, cutting travel time between the capital, Nairobi, and one of East Africa’s largest ports, Mombasa, from 12 to four hours and breeding hopes of an economic and tourism revival in the region.

The country’s most significant transportation project since its independence in 1963 is being built courtesy of China.  China Road and Bridge, a state-owned enterprise, leads construction of the $13.8 billion project, which is financed nearly 100% by the Export-Import Bank of China.

The railroad is one of a host of infrastructure projects China spearheads around the world in an ambitious quest to reinforce its emergence as the world’s next economic superpower while President Trump turns his back on globalization. Continue reading

Draghi Admits EU May Breakup For First Time

For the first time, the head of the European Central Bank, Mario Draghi, has conceded the possibility that the EU may fall apart. Draghi came out and said that any member leaving the Eurozone would need to settle its claims or debts with the bloc’s payments system before severing ties. This statement reveals the heated discussion at Davos and the rift that is beginning to spread. This statement, released on Friday, was made in a letter to two Italian lawmakers in the European Parliament. Continue reading

Diplomat says China would assume world leadership if needed

 

  • China’s response came over Trump’s pledge to put “America first”.
  • In Davos, President Xi Jinping portrayed China as leader of a globalised world.
  • China is the world’s second-largest economy after the US.

BEIJING: China does not want world leadership but could be forced to assume that role if others step back from that position, a senior Chinese diplomat said on Monday, after US President Donald Trump pledged to put “America first” in his first speech.

Zhang Jun,, director general of the Chinese foreign ministry’s international economics department, made the comments during a briefing with foreign journalists to discuss President Xi Jinping’s visit to Switzerland last week. Continue reading

Jack Ma: America has wasted its wealth

 

Jack Ma, one of China’s most successful and richest entrepreneurs, has responded to America’s growing globalization backlash, arguing that the superpower has benefited immensely from the process – but that it has largely squandered its wealth.

“American international companies made millions and millions of dollars from globalization,” Ma – the founder of Alibaba, the world’s largest online retailer – told participants on the second day of Davos. “The past 30 years, companies like IBM, Cisco and Microsoft made tons of money.”

The question is: where did that money go? It was wasted, Ma explained. Continue reading

China’s Xi Jinping Speech Seen as Move to Fill Global Leadership Role

China’s President Xi at the World Economic Forum, in Davos. He portrayed further globalization as a historical trend and outlined China’s contributions that had benefited the rest of the world. PHOTO: LAURENT GILLIERON/AGENCE FRANCE-PRESSE/GETTY IMAGES

 

DAVOS, Switzerland—Chinese President Xi Jinping’s strong defense of globalization at a speech at the World Economic Forum was depicted here as an effort to fill a vacuum being created by the U.S. stepping back from a global leadership role.

Mr. Xi was seen as reacting to growing concerns that the incoming U.S. administration of Donald Trump would shift the world’s largest economy toward protectionism. Continue reading

Leaked Morgan Stanley slide shows bankers want to move quickly toward a “cashless economy” to enact NIRP

16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

Revelation 13:16, 17

 

This leak through Zerohedge came on the heels of recent Op-ed’s by both Bloomberg and Financial Times, which urged for the banning of cash, a movement documented fully here by TRUNEWS.

Continue reading

“Fasten Your Seatbelts”: Kyle Bass Previews The Collapse Of China’s $34 Trillion Banking Sector

Earlier this month, Kyle Bass asked a funny question in a discussion with CNBC’s David Faber. To wit: “If some fund manager in Texas is saying that your currency is dramatically overvalued, you shouldn’t care on a $10 trillion economy with $34 trillion in your banks. I have, call it a billion –  it’s so small it should be irrelevant and yet somehow it’s really relevant.”

Bass was referring to China’s penchant for firing off hilariously absurd “Op-Eds” in response to anyone who suggests that the country may indeed be experiencing the dreaded “hard landing” or that a much larger yuan devaluation is a virtual certainty. The People’s Daily literally laughed at George Soros when the aging billionaire said he was short Asian currencies in Davos. “Declaring war on China’s currency? Ha ha,” PD wrote. Chinese media also called Soros a “crocodile,” a “predator,” and said his yuan gambit “cannot possibly succeed.” Continue reading

European Governments Ignoring Security Warnings?

  • “We are importing Islamic extremism, Arab anti-Semitism, national and ethnic conflicts of other peoples, as well as a different understanding of society and law.” — From a leaked German intelligence document.
  • The mayor of Molenbeek, Belgium ignored a list she received, one month prior to the Paris attacks, “with the names and addresses of more than 80 people suspected as Islamic militants living in her area,” according to the New York Times. “What was I supposed to do about them? It is not my job to track possible terrorists,” Mayor Schepmans said.
  • In October 2015, Andrew Parker, director general of Britain’s Security Service, said that the “scale and tempo” of the danger to the UK is now at a level he has not seen in his 32-year career. British police are monitoring over 3,000 homegrown Islamist extremists willing to carry out attacks on the UK.

The head of the Norwegian Police Security Service (PST), Benedicte Bjørnland, was recently a participating guest at a security conference in Sweden, where she warned against further Muslim immigration. Continue reading

Analyst: Impossible for Saudis to destroy U.S. shale industry

Because of its mid-cost nature, compared to the high cost of conventional drilling, shale will rebound quickly, according to Daniel Yergin, founder of IHS Cambridge Energy Research Associates, who said groups are already in place to grab the assets of bankrupt U.S. shale drillers.

“The management may change and the companies may change but the resources will still be there,” Yergin told the Daily Telegraph. Continue reading

Citi Economist: The U.S. Is the Least Prepared Major Economy for the Huge Changes Ahead

U.S. politics aren’t ready for this.

Citigroup’s chief global political analyst, Tina Fordham, and Chief Economist Willem Buiter have offered their outlooks on the global state of affairs at the World Economic Forum’s annual meeting in Davos. They did not paint a sunny picture. Continue reading

World Economic Forum chairman predicts 1 billion refugees

(TRUNEWS) The executive chairman of the World Economic Forum is predicting mass migration of 1 billion refugees moving north into Europe, if the slide in commodities continues.

Klaus Schwab made the comments during an interview ahead of the Davos meeting, according to Bloomberg. 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

EU’s bailout program for Greece ‘dead’ – Syriza economist

The bailout program, which the outgoing Greek government signed with the EU, is dead and will be renegotiated, Yiannis Milios, chief economy policy maker at the leftist anti-austerity party Syriza said after it won the country’s parliamentary election.

European Union Finance Ministers are scheduled to meet in Davos on Monday, but Milios said that Greece’s current finance minister, Gikas Hardouvelis, will attend the gathering only to “close pending cases of technical matters.” Continue reading