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The Numbers Are In: China Dumps A Record $94 Billion In US Treasurys In One Month

Shortly after the PBoC’s move to devalue the yuan, we noted with some alarm that it looked as though China may have drawn down its reserves by more than $100 billion in the space of just two weeks. That, we went on the point out, would represent a stunning increase over the previous pace of the country’s reserve draw down, which …

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Pepe Escobar – Say hello to China’s new toys: Escobar

China’s aggression is destabilizing its neighbors in the South China Sea. China never stops cheating on world trade. China’s stock market is a trap for investors. China’s devaluation of the yuan is a dirty trick. China is imploding. President Xi Jinping does not have any credibility left. And China is a major threat because the Pentagon said so. Whatever. Cue …

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Pepe Escobar – Welcome to the trade deal wars

BANGKOK — China continues to grow at a not too shabby 7%. And yet, because of the yuan devaluation and the sharp drop in the stock market, in most Western capitals the narrative switched to Armageddon descended over an economic model that generated, over the years, six-fold growth in Chinese GDP. Few are aware that Beijing, simultaneously, is engaged in …

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Ariel Noyola Rodríguez – The Devaluation of the Yuan Tests China’s Rise as a World Power

After the devaluation of the yuan, the international financial markets started trembling. Washington accused Beijing of taking advantage of the market. As China wants to incorporate the yuan into the Special Drawing Rights, it is inconvenient to prolong the devaluation. Furthermore, if a currency war broke out, China would risk increasing the economic and geopolitical tensions between countries in the …

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Pepe Escobar – Brave (miserable) new normal world

Shares in the Shanghai/Shenzhen soared a whopping 150 percent in the 12 months up to mid-June. Small investors – almost 80 percent of the market – believed in a never-ending party, and often borrowed heavily to be part of the “get rich is glorious” bonanza. There had to be a correction. Those shares – which had hit a 7-year peak …

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Zachary Keck – China Tests Its Most Dangerous Nuclear Weapon of All Time

China conducted a flight test of its new intercontinental ballistic missile (ICBM) this month. This week, Bill Gertz reported that earlier this month, China conducted the fourth flight test of its DF-41 road-mobile ICBM. “The DF-41, with a range of between 6,835 miles and 7,456 miles, is viewed by the Pentagon as Beijing’s most potent nuclear missile and one of …

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Devon Douglas-Bowers – The Truth About BRICS

Following is a transcript of a recent interview with independent journalist James Corbett, where we discussed BRICS, the popular view that the organization is a resistance force, and how we can fight back against the powers that be. hat are BRICS and the Asian Infrastructure Investment Bank (AAIB) really about? Many people argue that it is these countries challenging the dominant US-based …

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Tyler Durden – Chinese Air Pollution Kills 4,000 People Each Day (And Why It WillKill Many More)

Every quasi-mushroom cloud has a silver lining. That was our cynical conclusion yesterday when we noticed that as part of China’s tragic Tianjin mega-explosion, thousands of channel-stuffed cars parked at the Chinese port which likely would have quietly rusted away into the epic nothingness of China’s unprecedented excess capacity of pretty much everything, were destroyed, thereby one-time reducing at least …

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Harry S. Dent Jr. – China’s government is absolutely lying about its economy

REUTERS/XihaoPeople look at a hand-made replica of a Lamborghini Reventon as they drive past it in Suqian, Jiangsu province August 30, 2012. Wang Jian, who worked at a garage for more than a decade, built the replica of a Lamborghini Reventon with a second-hand Nissan and Santana. I and a few brave experts such as Jim Chanos, Gordon Chang, and …