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China’s Reaction to Trump’s Election Win

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Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

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Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

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Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized

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Inside Shanghai’s COVID Lockdown, Residents Resort to a Barter Economy

Shanghai, the financial center of China, is a city with a population of 25 million. Under the ongoing Covid-19 lockdown, people have found it hard to buy groceries. The barter economy is becoming the solution to the current food crisis in Shanghai.

Beef patties can be exchanged for rice, flour and oil. The price for half a bottle of rum is four egg tarts; green peppers, onions, ginger and garlic are the new currency because they won’t appear in the vegetable packets occasionally distributed by community officials. Coca-Cola is at the top of the  chain of food exchanges as it can be exchanged for anything.

The people in Shanghai  have conducted their sales through social media such as WeChat groups. Some have posted such comments as, “Who would have thought that the young people in Shanghai would have to barter to make a living.” “In 2022, thanks to the high level of governance by the municipal government, Shanghai as a financial center has degenerated into a barter economy.”

One Shanghai netizen offered to lend a cat for three oranges. The netizen said, “It’s a little hard to be alone at home, it’s much better to have a pet.”

Source: Central News Agency (Taiwan), April 12, 2022
https://www.cna.com.tw/news/acn/202204120227.aspx

Briefings | | |   Economy/Resources

Mingpao: in March, Foreign Investors Cut a Record Volume of Their Holdings of Chinese Bonds

Mingpao, one of the primary Hong Kong newspapers, recently reported that, in March, foreign investors reduced their holdings of Chinese bonds by more than US$15 billion setting a record for the largest withdrawal from the world’s second-largest bond market in a single month. Market analysts expressed their belief that the possible factors for the sharp sell-off include concerns about the geopolitical risks of investing in China, broader economic uncertainty, and a weakening market yield advantage over U.S. bonds. Global investors also pulled more than US$7 billion from onshore Chinese stocks through deals with the Hong Kong market last month. Data showed that in March, foreign institutional investors reduced their holdings of Chinese inter-bank bonds for the second consecutive month with a scale of RMB 98.2 billion yuan (around US$15.4 billion), an increase of nearly 50 percent year-over-year. Among this volume, for the second month in a row, foreign institutional investors reduced their holdings of Chinese government bonds by RMB 51.8 billion yuan (around US$8.13 billion), the highest monthly outflow on record.

Source: Mingpao, April 8, 2022
https://bit.ly/38I7JA1

Briefings | | |   Economy/Resources

Ninety Percent of South Koreans Gave Priority to the U.S.

Well-known Chinese news site NetEase (NASDAQ: NTES) recently reported that, according to a survey titled, “New Government’s Economic and Foreign Security Policy Survey” that the National Economic Association of Korea released, 90 percent of South Koreans believe that the new government needs first to cooperate with the United States in the fields of the the economy, diplomacy and security. South Korea just completed its presidential election. As one of his initial activities after the election, President-elect Yoon Suk-Yeol has sent a coordination mission to the United States. In terms of South Korea-China relations, 84.9 percent of the respondents to the survey believed that even if there may be short-term difficulties, the new South Korean government should dare to speak out about the contradictions between the two countries. In the question set with a total score of 10 points on country favorability, the United States had the highest favorability score of 7 points, Japan had 3.7 points, and China had only 3.2 points. This latest poll tells us that the future of China-South Korea relations is not optimistic. Looking at the options for cooperation in the economic field, the poll showed only 4.3 percent favorability. Regarding “cooperation with North Korea, China, and Russia”, 68 percent agree “cooperation with the United States and Japan is necessary,” and 27.7 percent believe that “it is necessary to remain neutral.” Around 77.1 percent of the respondents support the new government’s policy of placing the US-Japan-Australia-India Security Dialogue (QUAD) at the top of its foreign policy and 69 percent support the phased participation of South Korea in QUAD.

Source: NetEase, April 4, 2022
https://c.m.163.com/news/a/H44QHFFA0534V2AI.html?spss=backflow-index-hotlist

Briefings | | |   Geo-Strategic Trend

Global Times: Experts Warn against NATO’s Globalization

Global Times (a newspaper under the CCP) recently reported that, for the first time, NATO’s foreign minister’s meeting invited Japan and South Korea. Experts reminded people to be vigilant regarding NATO’s globalization. NATO’s frantic eastward expansion is considered the “bane” of the Ukraine crisis. Now, NATO seems to have China on its mind. At a news conference, NATO Secretary-General Stoltenberg said  that NATO’s foreign ministers will discuss NATO’s new strategic vision, which will, for the first time, “take into account China’s growing influence and coercive policies on the global stage.” According to the schedule that NATO released, NATO foreign ministers will hold talks with the foreign ministers of a series of “global partners,” including four Asia-Pacific countries: Australia, New Zealand, Japan and South Korea. Nikkei Asia reported that this is the first time for a Japanese foreign minister to attend the NATO foreign ministers’ meeting. The same is true for the foreign minister of South Korea. The foreign ministers of four non-NATO countries in Europe, namely Ukraine, Sweden, Finland and Georgia, were also invited to attend the meeting. Experts expressed the belief that NATO is a geopolitical weapon and tool of the United States. They say its development goal is very clear. It is to build a global security system based on the interests and values of the United States and the West. In other words, NATO’s involvement in the Ukraine crisis is only a transitional process. Its deeper and long-term goal is China.

Source: Global Times, April 7, 2022
https://world.huanqiu.com/article/47VCIBCbst5

Briefings | | |   Geo-Strategic Trend

People’s Daily: Who Is Intentionally Perpetuating the (Russian-Ukraine) Conflict?

China’s propaganda machine People’s Daily published a commentary on the Russian-Ukraine war under the title, “Who Is Intentionally Perpetuating the Conflict?” The author’s name is Zhong Sheng. This is a pen name that sounds like “The voice of China.”

The article states, “The Russian-Ukrainian conflict broke out and the stock prices of U.S. military industry companies rose sharply. Who is making a fortune from this war? Who is intentionally perpetuating the conflict? It is a self-explanatory fact.”

The commentary continued, “The Ukrainian crisis has put more pressure on the already burdened world economy. However, according to a former U.S. Department of Defense official, in Washington, many lobbying companies, military enterprises and people in the Capitol are quietly popping champagne to celebrate. The U.S. stock market data showed that, from February 24 to March 28, Lockheed Martin shares rose more than 13 percent, Northrop Grumman rose more than 13.4 percent, and General Dynamics rose more than 10 percent. The Russian-Ukrainian conflict broke out and the stock prices of U.S. military industry companies rose sharply. Who is making a fortune from the war? Who is intentionally perpetuating the conflict? The answer is self-explanatory.”

“Provoking the Russian-Ukrainian conflict and profiting from it is the desired wish of the U.S. military-industrial complex. It influences U.S. foreign policy through interest groups. It constantly challenges Russia’s bottom line. By exaggerating the “military threat from Russia.” It sells security anxiety and exaggerates the need for European countries to increase defense spending significantly and to strengthen “military deterrence.”

The article concluded, “The United States has long regarded itself as a ‘beacon of democracy.’ In recent years it has tried to exaggerate the narrative of ‘democracy against authoritarianism.’ However, a strong contrast between the lack of U.S. domestic anti-epidemic funding and the huge profits that the military industry makes, as well as the U.S. history of creating wars and conflicts all over the world, have eroded the democracy and human rights appearance it has so promoted with holes and scars everywhere. The United States, which has such  interest groups as the military-industrial complex, is a hegemonic chariot corrupted by money. What it brings to the world and its ordinary people is only turmoil and harm.”

Source: People’s Daily, April 2, 2022
http://world.people.c.om.cn/Tn1/V2022/0402/c1002-32390419.html

Briefings | | |   Government/Politics

He Lifeng Took Some Powers from Wang Hu’ning

Hong Kong’s Ming Pao reported that He Lifeng (何立峰) might have taken certain powers away from Wang Hu’ning (王沪宁).

He Lifeng heads the National Development and Reform Commission. Ming Pao received information that he has taken over the CCP Central Committee for Deepening Reform Office, which seems to be separated from the CCP Central Committee Policy Research Office that Wang Hu’ning oversees.

The Wall Street Journal quoted from its source that Xi Jinping is thinking about letting He Lifeng take over China’s economy and financial system in the future, and possibly giving him the first Deputy Prime Minister position.

Wang Hu’ning, according to a Washington Post report, “is almost certainly the most dangerous man in the world that most people have never heard of. He is a member of the Politburo Standing Committee of the Chinese Communist Party but is best understood to be the big thinker in President Xi Jinping’s inner circle.” Wang has a “considerable influence over Xi.” He also advised two previous CCP heads, Jiang Zemin and Hu Jintao.

There is infighting between Jiang Zemin’s faction and Xi Jinping. Some political observers have the view that Wang has stayed in Jiang’s camp and has been misleading Xi Jinping to get him to make irrational decisions.

Source: Epoch Times, April 1, 2022
https://hk.epochtimes.com/news/2022-04-01/24028216

Briefings | | |   Government/Politics

Global Times Editorial: Don’t Let the “Bucha Incident” Be Used to Fan the Fire

Below is an excerpt from an editorial that China’s state-run media Global Times wrote on the “Bucha killing” in Ukraine:

“The United Nations Security Council held a meeting on April 5, discussing the  Ukraine situation, with the ‘Bucha incident’ being the focus. Ukraine alleged that the Russian army killed a large number of civilians during the occupation of Bucha which is located in the western suburbs of Kyiv. Russia resolutely denied it and submitted the evidence of the Ukraine side’s fake propaganda to the Council.”

“Unfortunately, after the ‘Bucha incident’ was exposed, the initiator (the United States) of the Ukrainian crisis has not shown any signs of urging peace and promoting talks. On the contrary, it is ready to exacerbate the Russia-Ukraine tensions and create obstacles to the peace talks between the two sides by increasing sanctions against Russia, providing more weapons to Ukraine, and continuously pressuring Russia in diplomacy and in public opinion. In particular, Washington expressed that it will provide a series of heavy weapons systems to Ukraine. The U.S. national security consultant, Jake Sullivan, said that the extent and depth of sending weapons and military equipment to Ukraine will be ‘unprecedented.’ We have to say, it is very irresponsible to fan the flames.

“Many Western media describe the ‘Bucha incident’ as the turning point in the Russian conflict. This is a vague judgment. Is it a direction in which the situation is further deteriorating? This is precisely why the peace-loving people need to be vigilant. At present, the direction of  the ‘Bucha incident’ seems to have deviated from the normal orbit, and the elements of a public opinion war and psychological war are getting stronger. However, any attempt to use the Ukrainian crisis so as to unilaterally occupy the ‘moral high-ground,’ and continuously push up conflicts to extract the geostrategic interests, will in the end, trigger a larger humanitarian tragedy.

“People have reason to suspect that some people in the U.S. and the West are hiding a ‘double standard’ and a not so simple political purpose over the ‘Bucha incident.’ The reason is that, over the years, the military forces of some countries have committed numerous crimes in killing civilians with impunity. According to incomplete statistics, as many as 100,000 Afghan civilians have died under U.S. gunfire, and a significant number of them were children. The Australian special forces have killed 39 unarmed Afghan civilians, including juveniles, by slitting their throats only for ‘practice.’ What’s more, in order to obstruct the International Criminal Court’s (ICC’s) investigation of U.S. war crimes in Afghanistan, the U.S. government went so far as to restrict the issuance of visas for ICC staff and threatened to impose sanctions on them.”

The “‘Bucha incident’ once again reminded the international community that, while having a serious investigation, it is also necessary to avoid fanning the flames and ‘passing the knife.’”

Source: Global Times, April 5, 2022
https://opinion.huanqiu.com/article/47UHALnFtHl

Briefings | | |   Government/Politics US-China Relations