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The Korean Economy Is in Critical Condition

Well-known Chinese news site Sina recently reported that, coupled with President Park Geun-hye’s scandal crisis, Korea’s key supporting industries are suffering a landslide that has put the Korean economy into a deeply troublesome condition. Korea’s shipbuilding industry is critical to the lifeline of the economy, yet, since June, the three major shipbuilders have added a headcount of 25,000 to the nation’s unemployment total. So far the shipbuilding industry has suffered a 13 percent decline year-over-year. Another major collapse was in the electronics industry, brought on by the explosions of the Samsung Galaxy Note 7 cellphones. Samsung alone provides 20 percent of Korea’s GDP and tax income. Korea’s electronic industry has a 20 percent share of the nation’s total exports. Some experts have expressed the belief that Korea’s GDP growth will drop to 2.2 percent, which is close to the low point of the 1998 Asian Financial Crisis.

Source: Sina, November 2, 2016
http://finance.sina.com.cn/stock/usstock/c/2016-11-02/doc-ifxxneua3926096.shtml

Xi Jinping: The People May Overturn the Government If the Taiwan Independence Issue Is Not Handled

United Daily News (UDN), one of the primary Taiwanese news groups, recently reported that Chinese President Xi Jinping delivered several unscripted messages during the summit with the visiting Taiwanese Kuomintang (KMT) Chairman Hung Shiu-chu in Beijing. When Xi expressed his determination to counter the idea of an independent Taiwan, he advised that “the Chinese people would overturn the government” if the Communist Party did not handle this independence issue. Xi mentioned that both the Mainland and Taiwan share the same traditional Chinese culture and he had high confidence in this shared cultural background. He also said China is very proud of its economic growth in the recent decades and is willing to share the fruits of this growth with Taiwan. Xi mentioned the goal of eliminating poverty in the Mainland by 2020 and that the improvements in the people’s living conditions should be at the “Nobel Prize winning level.”

Source: United Daily News, November 2, 2016
http://udn.com/news/story/10482/2062897

VOA: Official Indicated That Wang Qishan May Serve another Term

Voice of America (VOA) reported that, on October 31, 2016, Deng Maosheng, the Deputy Director of the Research Office of the Chinese Communist Party (CCP) Central Committee, held a press conference to explain the CCP’s 6th Plenum of its 18th Congress. The issue that attracted the attention of Hong Kong reporters the most was his statement about the age rule regarding who can serve as a Politburo Standing Committee member.

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Global Times: Construction of Fully-China-Made Aircraft Carrier is Faster than the U.S.

Global Times recently reported that the Ministry of Defense announced at a press conference that China has completed all of the design work on the first aircraft carrier that China has made in its entirety and the main ship hull has also been closed at the dock. It is very rare that the Chinese military reports to the public on the status of an aircraft carrier construction project. Experts estimated that, at the current speed, construction of the entire carrier can be completed in 2016. However, it may take another half year to one year after the launch to get the carrier into active military service. Typically, the United States takes four to five years to build an aircraft carrier. This first Chinese-made carrier is expected to take less time to build. Those doing the construction learned a lot from building the previous Chinese carrier, which had been built on top of an old soviet carrier bought from Ukraine. That experience significantly sped up the building process of the new ship. The article also mentioned the Dongfeng-21C mid-range missile being tested for combat scenarios. It is China’s strategic missile model that is capable of carrying nuclear warheads.

Source: Global Times, October 28, 2016
http://mil.huanqiu.com/observation/2016-10/9611376.html

People’s Daily: Thirty Five of the “100 Red Arrest Warrant” Fugitives Have Been Captured

On October 30, the Central Commission for Discipline Inspection Ministry of Supervision website published the results of the anti-corruption initiative regarding the international pursuit of stolen goods. Since the office for the international pursuit of stolen goods was set up under the Central Anti-Corruption Coordination Group in 2014, China has launched the special actions of “Skynet 2015” and “Skynet 2016.” As of September 2016, more than 2210 fugitives, including 363 government staff members, had been captured and returned to China from 70 countries and regions. The amount recovered was 7.994 billion yuan (US$1.18 billion). Among the Interpol issued red arrest warrants for 100 suspected criminals who were government workers, 35 have been arrested. A total of 19 were returned from Western developed countries such as the United Kingdom, the United States, Canada, Australia, and New Zealand.

The 100 red warrant suspects came from 23 provinces and cities. Most of them were from Guangdong, Zhejiang, Jiangsu, and other coastal provinces in the southeast.

Source: People’s Daily, October 31, 2016
http://legal.people.com.cn/n1/2016/1031/c42510-28819554.html

DWNews: CY Leung Cancelled Beijing Trip to Avoid Embarrassment

Hong Kong Chief Executive Leung Chun-ying (CY Leung) had planned a trip to attend the opening ceremony of the “20th Beijing Hong Kong Economic Cooperation Symposium” to be held on November 3 and 4. However, Leung cancelled his trip.

DWNews published an article stating that Leung did it to avoid embarrassment since the top Beijing officials have not yet made any positive gestures that would support his re-election bid.

Xi Jinping was unhappy with the CCP officials in charge of Hong Kong and Macao affairs. Officials who used to support Leung did not express their support this time either. Therefore, it seems that Leung’s re-election bid has only a remote chance of success.

Source: DWNews, November 1, 2016
http://blog.dwnews.com/post-920385.html

China Quietly Held the Central Hong Kong and Macao Working Conference

One of Hong Kong’s major pro-Beijing newspapers, Ming Pao, recently reported that it seems the central government secretly held the Hong Kong and Macao Working Conference from July 11 to July 12. There was no official report on this typically important conference before or after the event. The information was unintentionally leaked via the websites of the Bureau of Security Monitoring and the Bureau of Quality Supervision and Administration of Beijing’s Haidian District. These two bureaus were involved in the logistics of the Conference and reported some details in their running status news on their websites. There was no official report on any activity of President Xi Jinping for July 11. The Central Hong Kong and Macao Coordination Team leader Zhang Dejiang and his deputies – Li Yuanchao and Yang Jiechi, Director of the Hong Kong and Macao Office – Wang Guangya, as well as Zhang Xiaoming (Director of the Liaison Office of the Central Government in Hong Kong) and Hu Chunhua (Guangdong Provincial Party Secretary) all made no mention in public media of any activities during those two days in July. China has central government level working conferences for Taiwan, Tibet and Xinjiang – to discuss major policies and strategies in these regions. This was the first time to have one for Hong Kong and Macao.

Source: Ming Pao, October 26, 2016
http://news.mingpao.com/pns/dailynews/web_tc/article/20161027/s00012/1477504758888