Jack Ma, the 'owner' of Alibaba is a member of the CCP (Chinese Communist Party), who has said publicly that he would gladly hand over 'his' company to the CCP if asked to do so. This is a PR stunt on Ma's part, as he well knows that all companies within the PRC (People's Republic of China) are owned by the CCP, they are independent companies in name only. That's how Communism works. The state is the owner of everything. Chinese fugitive billionaire Guo Wengui once said that the top ten Chinese companies, including the supposedly privately-owned Huawei, Alibaba, and Tencent, are in fact “militarized state-owned enterprises” controlled by the Jiang family.
Sen. Kennedy on the Holding Foreign Companies Accountable Act. The Senate Bill passed, and if/when signed into law would see 800 CCP companies de-listed.
Since 2008 Wall Street has been investing in China. Giants such as Goldman Sachs Group Inc., and JP Morgan Chase & Co. have tens of billions. Five of the largest U.S. banks had a combined $70.8 billion investment in China in 2019, JP Morgan alone used $19.2 billion into lending, trading and investing in China. Some of these companies are hiring CCP 'princelings' sons, daughters, nephews and nieces of CCP’s Politburo in their fat-cat U.S. offices without any experience or qualifications, to show their goodwill towards the CCP.
China Uncensored shows how Wall Street has sold out to the CCP.
Will U.S. big box ever pull it's operations out of the PRC?
Now to the 64 dollar question, when will D.C. finally wake up and tell all U.S. companies that invest in a U.S. National Security threat spelled PRC/CCP, that they will loose all of their U.S. Government Contracts both Unclassified AND Classified unless they divest themselves from all CCP operations which is the PRC.
J.
J,
I believe D.C. sent that warning by telling Amazon that the AWS division wouldn’t win that $10 billion DOD contract a year ago. The Luckin Coffee listing/delisting looks like money laundering, certainly fraud, on a grand scale.
“all companies within the PRC (People’s Republic of China) are owned by the CCP, they are independent companies in name only. That’s how Communism works. The state is the owner of everything.”
To the degree that’s true, it’s true under Capitalism, as we are seeing with TikTok. The only difference is that capitalist governments use cronies like Larry Ellison as intermediary owners.
Jack Ma has been a Party member since he was 15 and what he says is consistent with the vow he took when he joined: to put the people’s wellbeing ahead of his own. All 93,000,000 party members did the same.
After 70 years, their approach seems to be working: every Chinese in the bottom 50% income bracket will own a home and have an income, plenty of food and clothes, safe streets, health insurance, a pension, and old age care.
Their children graduate from high school three years ahead of ours and live longer, healthier lives and there are more hungry children, drug addicts, suicides and executions, more homeless, poor, and imprisoned people in America than in China.
No matter how you measure it, their Communist government produces more democratic outcomes than our Capitalist one.
J.
…and in return, China will dump their holdings of U.S. treasuries – about one trillion.
Godfree Roberts
Thank you comrade.
“No matter how you measure it, their Communist government produces more democratic outcomes than our Capitalist one.”
Just don’t speak out against or try to change those “democratic outcomes” otherwise you’ll be silenced. So basically, rats in a cage.
Godfree,
“put the people’s wellbeing ahead of his own”
So that’s why the Uighars are in ‘
concentrationreeducation’ camps.Walrus,
So communist China has a trillion USD to waste? Why are they waiting?
Fred,
“So communist China has a trillion USD to waste? Why are they waiting?”
They are not going to execise the “nuclear option”, i.e. dumping T-Bills. After all, that’s the money China loaned to the US. Debt is only good as a leverage when the debtor is holding the debt.
If and when they liquidate, it will be very painful. However, eventually we’ll get over it. And there will be no longer that threat to US economy.
In reality, China is actively decoupling from the US. Think about that fact for a moment. Any threat of decoupling from Trump administration is just hot air.
TonyL,
China’s doing it! Oh, and Trump is just blovidating hot air. Ok. Thanks for the insights. Decoupling works two ways, give all credit to China. China’s economy was going to suffer, and suffer worse once that virus leaked out of thier lab, so they kept that part secret and spread Covid and propaganda afterwards to 1) ensure everyone else’s economy was damaged and 2) deflected blame.
TonyL
There is no nuclear option here.
T-Bills are like certificates of deposit. Where is China going to park all that money? Not in the European Central Bank nor in the Russian Central Bank.
Unless they order $ 1 trillion of tangible goods or real eastate purchases.
Babak Makkinejad,
What I meant by “nuclear option” is what the term implies. It is a mutually destruction, in which both US and China will be greatly damaged economically. Both China and Russia have been accumulating gold resverve. And China has been reducing US Treasuries at a slow pace.
Fred,
https://asiatimes.com/2020/07/chinas-just-not-that-into-you/
“Just for fun, I asked my Facebook friends to guess the ratio of Chinese exports to China’s gross domestic product (GDP). They are all avid consumers of news.
The average guess put China’s US exports at 30% of GDP, with a standard deviation of 22% (see chart). The actual number is less than 3%.”
What we are actually (Tik-Tok) seeing is a global convergence to the worst standard for everyone.
The more “global” competetion becomes, the more it becomes a race to the bottom for everyone involved.
I am strongly recommending training in useful trades, such as plumbing, to avoid globalized devalueation of whatever you are doing.
China imho is “winning” because their leadership is less actively hostile to reality then the American (talking the blob here)one.
A relatively big thing here is that Chinese leadership, from what it seems, does not believe their own propaganda. The blob does. Because the blob does this, they continiously missallocate limited resources, they underestimate the endurance of their adversaries and they overestimate their local proxies.
NYPD officer accused of spying, arrested for allegedly acting as agent of China
https://abc7ny.com/nypd-officer-china-agent-of-baimadajie-angwang/6484676/
NEW YORK (WABC) — NYPD officer Baimadajie Angwang, a community affairs officer in the 111 precinct in Queens and a
US Army Reservist at Fort Dix,
has been arrested for allegedly acting as an agent of China.