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Posts Tagged ‘China’

Coal, here today, here tomorrow (Part 1) – CFACT

Posted by M. C. on January 18, 2022

Next week we will offer additional data pointing out reality is moving in the opposite direction of ridiculous government policy and the American electorate are hopefully waking up to this fact as part of the Biden Administration’s energy policy. Why would one vote for a House of Representatives candidate who supports a damaging and absurd idea for where the nation’s energy policy should be constructed? 

https://www.cfact.org/2022/01/17/coal-here-today-here-tomorrow-part-1/

By Dr. Jay Lehr, Robert Lyman

As we will most certainly convince the reader in this series of essays, we need not ever worry that coal will be eliminated as a major energy source in the US and the world. We simultaneously want to convince you that we are not talking about your grandfather’s coal plant.

Years ago, if you drove past a coal fired plant you saw a gray cloud emerging from its exhaust tower. The color was caused by fly ash and a few other byproducts of burning coal. More often today, a billowing cloud is white and made up mostly of water vapor. This is a result of considerable investment made by coal plant owners in emission control equipment. Clean power plants did not happen overnight. 

Some of the first environmental controls implemented around the world were electrostatic precipitators, which remove fly ash from the exhaust gases. That fly ash now passes through electrically charged plates which pull the fly ash particles out of the stream. When the plates are full, the fly ash is moved to a hopper at the bottom of the plates. The process removes 99% of the particles created by burning coal. The process works much the same way in which an automobile’s catalytic converter removes nitrogen oxide from engine exhaust. Most coal plants continuously monitor the composition of their emissions and thus how well their environmental controls are working.  

Another coal burning byproduct is sulfur dioxide (SO2) which was once incorrectly thought to significantly contribute to acid rain. This is now commonly removed by what are called scrubbers, which are simply large tanks of crushed limestone and water. The exhaust gases are sent to the bottom of this limestone slurry. As the gases bubble up, the calcium in the limestone reacts with the SO2 to form water and gypsum which is recycled and sold to wall board manufacturers. In fact, this is so successful that many worry that were coal plants to be eliminated wall board manufacturers would be in economic difficulty finding as good a source for their gypsum (hydrated calcium sulphate CASO4). They need not worry, the elimination or even reduction of coal use is a pipe dream of the Marxist element throughout the world hoping to succeed where Lenin, Stalin, Chavez and Castro failed, turning the world into a communist stronghold. They all ignored where we the people stand. 

Ever since the Intergovernmental Panel on Climate Change in 2018 published its highly controversial Special Report on limiting the growth in global temperatures to no more than 1.5 degrees Celsius this century, the alarm it generated has led several governments to embrace the thesis that global greenhouse gas emissions must be reduced effectively to zero by 2050. A key component of the “pathway’ to this objective, it is claimed, is to eliminate the use of coal for power generation everywhere in the world. It is hard to believe government leaders who are not the Marxist driving forces are so stupid as to think we can continue our ever improving standard of living without coal or that they can replace it with ever undependable wind and solar.  Is anyone not aware that the sun does not always shine nor the wind always blow? 

The magnitude of the challenge involved and its enormous cost have not dimmed the enthusiasm of the proponents. According to the British Petroleum Statistical Handbook of World Energy 2021, global coal consumption in 2020 was 151 exajoules, 27% of primary energy consumption. This means that, after oil, coal is the most important supplier of the modern world’s energy needs. Most coal is consumed in the generation of electricity. In 2020, coal-fired plants generated 9,421 terawatt-hours which is a trillion watt-hours (TWh) of electricity, 35% of the global total, and the largest share provided by any fuel. Many billions of dollars are invested in currently operating coal plants. Eliminating them in 28 years is both imbecilic and impossible 

The purpose of this series of articles is to explore the likelihood of their fantasy occurring by examining the current and near-term trends in the construction of new coal-fired plants.  

Current Coal-Fired Generation Capacity 

Table 1 may help to clarify the current global situation in terms of the location and generation capacity of coal plants in the fifteen countries where they play the largest role. 

TABLE 1 

     Coal-Fired Electricity Generation Capacity by Country in 2021  

Country Capacity (MW) 

China            1,042,947 

India              229,247 

U.S.                223,621 

Japan             47,872 

Russia            44,845 

South Africa  41,904 

South Korea  36,380 

Indonesia      33,966 

Poland            30,200 

Australia        25,107 

Ukraine          22,265 

Vietnam         20,317 

Taiwan           18,873 

Turkey            18,113 

Malaysia         13,529 

 Source: Global Energy Monitor 

 Readers should note three important points from Table 1. First is the enormous role played by China in global coal consumption; China alone accounts for just over half the world’s coal generating capacity. Second, reliance on coal for power is spread across several countries, largely because of its advantages in terms of cost and security of supply. Third, coal-fired generation is concentrated in Asia, with about 71% of the world’s operating capacity. The OECD countries, which are the main ones whose political leaders have made climate policy a major priority, play a relatively small role. 

 Over the period 2015 to 2020, over 437,000 GW (Gigawatts which is billions of watts) of new coal-fired capacity has entered service. China has played the major role in that growth. In 2020 alone, China commissioned 38.4 GW of new coal plants, comprising 76% of the global total. Outside China, 11.9 GW of new coal capacity was added. India added 2 GW, Japan 2 GW, Germany 1.1 GW Poland 0.9 GW and South Africa 0.8 GW. 

Next week we will offer additional data pointing out reality is moving in the opposite direction of ridiculous government policy and the American electorate are hopefully waking up to this fact as part of the Biden Administration’s energy policy. Why would one vote for a House of Representatives candidate who supports a damaging and absurd idea for where the nation’s energy policy should be constructed? 

Authors

  • Dr. Jay Lehr CFACT Senior Science Analyst Jay Lehr has authored more than 1,000 magazine and journal articles and 36 books. Jay’s new book A Hitchhikers Journey Through Climate Change written with Teri Ciccone is now available on Kindle and Amazon.
  • Robert Lyman Robert Lyman is an economist with 37 years of service to the Canadian government.
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America Must Stay Away from Kazakhstan’s Troubles – Responsible Statecraft

Posted by M. C. on January 11, 2022

There’s great temptation for Washington to get involved, whether it be democracy promotion or to cause trouble for Russia and China.

https://responsiblestatecraft.org/2022/01/10/america-must-stay-away-from-kazakhstans-troubles/

Written by
Anatol Lieven

Despite Russian hints, there is no evidence that the United States was involved in the latest violent protests in Kazakhstan. However, there now exists a strong temptation for America to get involved — and it is a temptation that must be firmly resisted by the Biden administration.

Aspects of the latest unrest remain unclear. It has been suggested that it was partly caused by struggles within the Kazakh elites between supporters and opponents of former President Nur-Sultan Nazarbayev, who until this week retained considerable power over the government. 

The most important underlying reason for the unrest however is entirely clear. It lies in the gross mismatch between Kazakhstan’s huge revenues from energy exports (more than $30 billion in 2021), the vast wealth of its elites, and the poverty of the mass of its population, with an average household income last year of only $3,200. As a Kazakh trades unionist told the New York Times:

“Kazakhstan is a rich country, but these resources do not work in the interests of the people, they work in the interests of the elites. There is a huge stratification of society.”

Regional factors also played a part: the hugely expensive move of the capital from the biggest city, Alma Aty, to a new capital, Astana, then renamed — to add insult to injury as far as Alma Aty is concerned — Nur-Sultan after Nazarbayev. The failure to distribute the benefits of energy revenues to the western region of Menghystau where most of the oil and gas is produced is also a factor. The government decision (now suspended) to lift the cap on domestic fuel prices was only the last straw for many ordinary Kazakhs.

The temptation for the United States to become involved in backing unrest in Kazakhstan stems from two sources (apart from the innate tendency of the democratism industry in the West to idealize any protest against an authoritarian regime as “democratic” and to lend it unthinking support). First of course is the desire to make trouble for Russia. Already, while U.S. Secretary of State Anthony Blinken has criticized Russia’s dispatch of troops to Kazakhstan, sections of the Western media and commentariat are celebrating the diversion of Russian military force and attention from Ukraine.

The second motive lies in a desire to make trouble for China. One important part of China’s Belt and Road network is intended to run through Kazakhstan. China has invested heavily in Kazakhstan’s infrastructure and created a free trade zone and transport hub at Khorgos on the border with Kazakhstan. 

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Assad, Syria and China’s New Silk Road – by Matthew Ehret

Posted by M. C. on December 11, 2021

https://matthewehret.substack.com/p/assad-syria-and-chinas-new-silk-road

Matthew Ehret

Ever since Russia and China began challenging the Anglo-American scorched Earth doctrine in 2011 with their first vetoes against US intervention into Syria, the Gordian knots that have tied up the Arab world in chaos, division and ignorance for decades have finally begun to unravel.

Where just one decade ago the unipolar vision of the ‘new American century’ reigned unchallenged, by 2013 the Belt and Road Initiative (BRI) had sprung into life, and the largest purges of China’s deep state on record were launched under Xi Jinping’s watch. This latter crackdown even earned the ire of the American intelligence community, with war hawk John Bolton complaining that Xi’s authoritarianism has made the CIA job of maintaining its spies inside China nearly impossible.

This new operating system, tied closely to Russia’s Eurasian Economic Union, has grown in leaps and bounds. Today, a new multipolar future has emerged; one which plans to actually deliver long-term development for all those who choose to play by its rules.

One of these adherents will be Syria, which is re-emerging onto the world’s stage after having miraculously defended itself from a ten-year military onslaught launched by the old unipolar players.

Of course, the pain and destruction of the war is still deeply felt; illegal US sanctions continue to plague the hungry masses, prevent the reconstruction of basic infrastructure and access to potable water, and cripple schools, hospitals, businesses, and livelihoods.

The BRI and Syria’s new future

On 5 November, China’s President Xi Jinping spoke with Syrian President Bashar Al-Assad, saying “we welcome the Syrian side’s participation in the Belt and Road Initiative and Global Development Initiative” and calling for reconstruction, development, and the defense of Syria’s sovereignty and territorial integrity.

The discussion came in the wake of Chinese Foreign Minister Wang Yi’s whirlwind tour across West Asia and North Africa in July 2021, during which he met the Arab League’s chief to discuss Syria return to the fold.

By the end of this tour – which coincided with Assad’s re-election – China had signed a four-point proposal for solving Syria’s multifaceted crisis with a focus on large scale reconstruction, ending illegal sanctions and respecting Syria’s sovereignty.

Syria, in turn, re-affirmed its support for China’s territorial integrity in the face of western-sponsored separatist movements in Xinjiang, Tibet, Taiwan, and Hong Kong.

China’s interest in West Asian development was first made known in 2017 when Chinese foreign ministry spokesman Geng Shuang stated:

“Too many people in the Middle East are suffering at the brutal hands of terrorists. We support regional countries in forming synergy, consolidating the momentum of anti-terrorism and striving to restore regional stability and order. We support countries in the region in exploring a development path suited to their national conditions and are ready to share governance experience and jointly build the Belt and Road and promote peace and stability through common development.”

In 2018, China offered $28 billion in development aid to Syria while simultaneously coordinating the integration of Iraq into the BRI, made official in September 2019 when then-Prime Minister Adil Abdul Mahdi unveiled the China-Iraq oil-for-reconstruction program and Iraq’s broader integration into the BRI framework.

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Shoving Match: Biden Pushes Around China and Russia | The Libertarian Institute

Posted by M. C. on December 9, 2021

As a result of the ramped up culture war—as the American Empire’s war pigs dance on the edges of Russia and China’s red lines—our people are divided, indeed committed to attacking, killing, beating, locking down, force vaccinating, robbing, and hating each other. In our lifetimes, we may well see the return of conscription, millions upon millions of unnecessary deaths, as well as the use of nuclear weapons.

https://libertarianinstitute.org/articles/shoving-match-biden-pushes-around-china-and-russia/

by Connor Freeman

After killing and displacing millions of people—and wasting trillions of dollars—in the Middle East our imperial apparatchiks picked concurrent fights with Russia and China. Joe Biden’s military budget is the highest Americans have ever seen and yet it is never enough to satisfy the imperial Congress. Biden has been heating up America’s Cold Wars, but now they may soon be getting hot. Biden and his hawks are playing with fire.

On Thanksgiving, eyeing Russia, the U.S. Navy’s Sixth Fleet sailed yet another warship, a guided missile destroyer, the USS Arleigh Burke into the Black Sea. At the beginning of November, the U.S. sent two warships to these waters—the destroyer USS Porter and the command and control ship USS Mount Whitney—they have only just exited the area. These warships are operating with America’s NATO allies, integrating their surface and air forces, running military exercises, and otherwise preparing for war on Russia’s very doorstep.

As Ron Paul has noted, these hostile provocations would be unthinkable if conversely Russia was drilling for war off the Texas coast or the Gulf of Mexico. However, this year there has been an almost constant presence of American warships in the Black Sea.

This month, U.S. Strategic Command’s Global Thunder exercise saw nuclear capable warplanes, strategic bombers, flying within 12.4 miles of the Russian border and simulating a nuclear attack. According to Russia’s Defense Minister Sergei Shoigu American bomber activity near his country’s borders has increased 2.5 times compared to last year. There have been 30 such flights this month.

The Biden administration is reportedly planning another large weapons transfer to America’s partner, Ukraine’s Nazi infested coup regime.

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Why Should American Soldiers Die for Taiwan? – 19FortyFive

Posted by M. C. on November 4, 2021

Until we have more concrete evidence that the Taiwanese are doing all they can for their own defense, all talk of America risking war with China for their benefit needs to come to a halt. There is no justification for sending American men and women to die on the seas and in the air around Taiwan when the citizens of Taiwan are themselves cool to the idea of dying for their own country.

Concrete evidence or not, there is no reason.

https://www.19fortyfive.com/2021/10/why-should-american-soldiers-die-for-taiwan/

ByDaniel Davis

Calls by U.S. leaders to extend security guarantees to Taiwan against an aggressive China are on the rise. American pundits have likewise been eager and disturbingly casual about offering up U.S. service members to go and die for Taipei.  Before taking another step down this dangerous path, however, these leaders need to consider just how willing Taiwanese are to die for their own country.

Until we have more concrete evidence that the Taiwanese are doing all they can for their own defense, all talk of America risking war with China for their benefit needs to come to a halt. There is no justification for sending American men and women to die on the seas and in the air around Taiwan when the citizens of Taiwan are themselves cool to the idea of dying for their own country.

First is the classic “show me your checkbook and I’ll show you your priorities.” The United States places great value on protecting its citizens and global interests, as evidenced by the fact that we spend more on national defense than any nation on the planet, upwards of 3.5% GDP annually.

As recently as 2016, Taiwan was spending an anemic 1.6% GDP on defense, and next year is expected to be only slightly better, at 2.1%. Evidence suggests that constant boasts by U.S. opinion leaders that the United States should give security guarantees to Taiwan leads the island’s leaders to conclude they don’t have to spend money on their own defense because they believe we will provide it for them.

Second is the extent to which the citizens are willing to serve in the armed forces and risk their lives in defense of their country. In the United States, our all-volunteer force constantly produces sufficient numbers of service personnel to fully man the Army, Air Force, Navy, Marines, and Coast Guard. We don’t always meet the recruiting goals but we always have sufficient numbers of personnel.

In Taiwan, by contrast, the armed services are significantly understaffed. So few Taiwanese are willing to sign up for military service, in fact, that earlier this year frontline combat units in the Taiwan military were assessed as being manned at a shockingly low 60%.

The Taipei Times newspaper conducted research a few years ago into the attitudes of the recruitment-age youth in Taiwan, finding that large numbers were “(a)pathetic toward the military and averse to service.”

One former Taiwanese Marine seemed to capture the reason for the apathy well: “I think it’s unlikely that we will go to war. If there’s no real enemy to fight against, I don’t know why military training is necessary.” Reuters reported in 2018 that 1,000 reservists over the previous three years had been charged for “dodging mandatory training.”

It is clear that considerable numbers of Taiwanese people either do not believe the threat from China is real, don’t believe their country could defeat China if it did attack, or just don’t want to “waste time” serving. Such a dynamic harkens back to the recent situation in Afghanistan where large numbers of Afghan troops would rather make deals with their enemy than to fight to the death in a fight they don’t think they could win. It therefore made no difference to the outcome that American troops did fight for them over a 20 year period.

Similarly, when the Russians annexed the Crimea in 2014, they did so without firing a shot because, like the Taliban did earlier this year, the Russians made deals with the defenders of The Crimea and likewise told them it would be pointless and futile to die fighting – when they could instead come to work for the victorious Russians. There is little reason to think some version of the same dynamic would not also exist in Taiwan if the Chinese were to attack.

If the government of Taiwan is not willing to adequately fund its military, if the Taiwanese men and women whose lives would be on the line in a war with China aren’t willing to fight for their country, it would frankly be immoral to force American men and women to die in their place for Taiwan’s defense. It is time U.S. opinion leaders and government officials stopped being so eager to offer up American troops to go into harm’s way for the benefit of another country and start being concerned for the welfare of our troops’ lives.

Now a 19FortyFive Contributing Editor, Daniel L. Davis is a Senior Fellow for Defense Priorities and a former Lt. Col. in the U.S. Army who deployed into combat zones four times. He is the author of “The Eleventh Hour in 2020 America.” Follow him @DanielLDavis1

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‘Will Biden Start Nuclear War with China Over Taiwan?’ – Ron Paul’s 25 Oct Column

Posted by M. C. on October 26, 2021

It was left to the “Chemical Ali” of this Administration, White House Spokesman Jen Psaki, to “clarify” that when the President signaled a major shift in US policy – a shift that could well lead to nuclear war with China – he was just kidding. Or something.

https://mailchi.mp/ronpaulinstitute/chinataiwan?e=4e0de347c8

Oct 25 – President Biden’s “townhall” meeting this past week was a disaster. From his bizarre poses to the incoherent answers, it seemed to confirm America’s worst fears about a president we are told was elected by the most voters ever. Though he didn’t bother campaigning, we are to believe he somehow motivated the most voters in history to pull the lever in his favor. Or mail in a ballot in his favor. Or something.

After the townhall, the Wall Street Journal was early among mainstream media publications to observe that the emperor has no clothes. In an editorial titled “The Confusing Mr. Biden,” the paper wrote, “Even with a friendly audience and softball questions, Mr. Biden’s performance revealed why so many Americans are losing confidence in his Presidency.”

The Journal focused on one of the most shocking and disturbing revelations from the carefully crafted event: asked by CNN’s Anderson Cooper if the United States would come to the defense of Taiwan should it come under attack by the Chinese mainland, he replied, “Yes, we have a commitment to do that.”

Anderson threw him another softball in hopes he might correct this dangerous misstatement, but Biden was not nimble enough to see his gaffe. He doubled down.

It was left to the “Chemical Ali” of this Administration, White House Spokesman Jen Psaki, to “clarify” that when the President signaled a major shift in US policy – a shift that could well lead to nuclear war with China – he was just kidding. Or something.

Said Psaki the next day: “Well, there has been no shift. The President was not announcing any change in our policy nor has he made a decision to change our policy. There is no change in our policy.”

In other words: “Pay no attention to the man who pretends to be the Commander in Chief of the Armed Forces of the United States.”

But this is not George W. Bush, who was elected in 2000 with zero experience in foreign policy. This is not Trump, who campaigned on a policy of peace then hired John Bolton to carry out that policy.

No, Biden has twice been Chairman of the Senate Foreign Relations Committee. Foreign policy has always been considered his one area of competence. Surely the Biden of even the Obama Administration would have understood the potentially catastrophic implications of his statement.

Strategic ambiguity has been US policy toward Taiwan/China for decades, but the new Biden China policy could be re-named “strategic incoherence.”

The policy of “strategic ambiguity” is foolish enough – who cares who rules Taiwan? – but advancing the idea that the United States is willing to launch a nuclear war with China over who governs Taiwan is a whole other level of America-last foolishness.

Chairman of the Joint Chiefs of Staff Gen. Miley was heralded as a hero for betraying his Commander in Chief Trump by seeking to restrict Trump’s access to the US nuclear arsenal. Milley claimed that Trump was so unsound of mind that he could not be trusted with the nuclear football.

Yet when actual unsoundness is there for everyone to see, Milley and the other “woke” generals are silent as the grave. These are dangerous times.



Read more great articles on the Ron Paul Institute website.
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Copyright © 2021 by Ron Paul Institute. Permission to reprint in whole or in part is gladly granted, provided full credit and a live link are given.

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How the West Adopted China-Style Lockdowns | Mises Wire

Posted by M. C. on October 1, 2021

Digital QR codes are now frequently used at restaurants and other venues to replace paper menus and to provide further information on products. Few could have predicted that prominent progressives in the United States would openly embrace proof of identity upon entry into nearly any venue. The thought of being required to scan a personal digital QR code upon entry to any venue is reminiscent of “Your papers, please.” Given that America has been effectively governed by the flip-flopping public health diktats of Dr. Anthony Fauci, I assume that vaccination passports are merely the icing on the cake.

https://mises.org/wire/how-west-adopted-china-style-lockdowns

Mitch Nemeth

Prior to the global pandemic caused by SARS-CoV-2 or covid-19, many looked to the United States as a beacon of freedom and liberty. When viewed in comparison to the harsh realities of the world, this may seem rather true. After all, one’s perception of freedom and liberty is skewed by perspective. In recent weeks, the Biden administration has escalated its increasingly authoritarian approach to “managing” the threat of the virus. Even President Biden himself stated that safety takes precedence over freedom. Examples of the Biden administration’s overreach include: its extension of the eviction moratorium through the Centers for Disease Control and Prevention, vaccine mandates through the Department of Labor, and its investigations into states that refuse to adhere to the federal government’s preferred public health guidelines.

Over the past eighteen months, countless commentators have declared that the pandemic should be treated akin to warfare, often using military analogies. During a prior pandemic, the nation’s predominant civil liberties defender, the American Civil Liberties Union, released a report that warned of the government imposing national security measures to clamp down on an “invisible enemy.” An ACLU report from 2008 stated the following: “Coercion and brute force are rarely necessary. In fact they are generally counterproductive—they gratuitously breed public distrust and encourage the people who are most in need of care to evade public health authorities.” The past eighteen months have demonstrated that the public health institutions view their role as part and parcel of the nation’s broader national security apparatus.

As if the ACLU had predicted the government’s response to covid-19, their report notes the following: “Too often, policymakers are resorting to law enforcement and national security–oriented measures that not only suppress individual rights unnecessarily, but have proven to be ineffective in stopping the spread of disease and saving lives.” During the early stages of the pandemic, governors of all political persuasions instituted similar shutdown measures throughout their respective states. After a period of weeks, conservative-leaning governors slowly withdrew these executive edicts as more was learned about the transmissibility and lethality of the threat. Progressive-leaning governors have been more reluctant to withdraw these executive edicts.

As vaccines became widely available, individuals across the country slowly warmed to the idea of lifting the covid-19 mitigation measures. Some progressive-leaning American cities like New York City, San Francisco, and New Orleans have chosen to do so while introducing a digital health pass, often referred to as a vaccination passport. Other cities have been more skeptical of this concept; the mayor of Boston, Kim Janey, compared the concept to the slavery-era freedom papers.

The vaccination passport was only an abstract idea in the early days of the mass vaccination campaign. The urban elite and the managerial class have fully endorsed the idea of requiring vaccination or proof of a negative covid test to participate in daily life. It is unlikely that the vaccination passport will ever be fully adopted by the United States government as policy. It is also unclear what is the end goal of our covid-19 containment policy. The conflicting public health messaging has led to fears of a “permanent pandemic,” whereby emergency powers are invoked indefinitely.

The Vaccine Passport Idea Grows

Along with much of the global establishment—e.g., the World Health Organization—in November 2020, Chinese president Xi Jinping endorsed a concept similar to the vaccination passport: “a global mechanism on the mutual recognition of health certificates based on nucleic acid test results in the form of Internationally accepted QR codes.” While President Xi’s idea is related explicitly to a negative covid test versus proof of vaccination, the underlying concept of “showing your papers” remains. Other regimes soon pushed similar ideas. 

Similarly, the Chinese state was an early proponent of using digital QR codes to help the country navigate through the pandemic. Digital QR codes are a simple and efficient means of tracking one’s movement and verifying proof of identity for those with a smartphone. Digital QR codes are now frequently used at restaurants and other venues to replace paper menus and to provide further information on products. Few could have predicted that prominent progressives in the United States would openly embrace proof of identity upon entry into nearly any venue. The thought of being required to scan a personal digital QR code upon entry to any venue is reminiscent of “Your papers, please.” Given that America has been effectively governed by the flip-flopping public health diktats of Dr. Anthony Fauci, I assume that vaccination passports are merely the icing on the cake.

Dr. Fauci provided an eyebrow-raising endorsement on September 13; on cable television, he endorsed the idea of requiring vaccination in order to travel domestically by aircraft. Dr. Fauci’s proposal comes nearly a year after a Department of Defense joint study with United Airlines that said “the risk of COVID-19 exposure onboards its aircraft is ‘virtually non-existent’ … when masks are worn.” Despite the cheaper, less intrusive option of universal masking in certain situations, Dr. Fauci’s neurotic endorsement of mandatory vaccinations for air travel continues to propel America’s descent toward an authoritarian nightmare.

Australia Abandons Liberalism

No Western country has so embraced the despotic lockdown ideal as Australia. The Atlantic’s Conor Friedersdorf writes, “the government of South Australia, one of the country’s six states, developed and is now testing an app as Orwellian as any in the free world to enforce its quarantine rules. Returning travelers quarantining at home will be forced to download an app that combines facial recognition and geolocation. The state will text them at random times, and thereafter they will have 15 minutes to take a picture of their face in the location where they are supposed to be. Should they fail, the local police department will be sent to follow up in person.” In ordinary times, such a government application would be considered a police state’s control mechanism; however, the government of South Australia apparently feels no remorse for subjugating its citizens to highly intrusive measures under the guise of public health.

In late July, the BBC reported that Australian Defence Force soldiers would be deployed to help enforce covid lockdowns. The soldiers would “join police in virus hotspots to ensure people are following the rules.” In late August, Australian police arrested hundreds of protesters participating in “unauthorised protests” against the government’s draconian lockdown measures. When questioned about the police response to the protesters, Victoria Police chief commissioner Shane Patton warned against participation and added “that it was ‘just ridiculous to think that people would be so selfish and come and do this.’” Friedersdorf contends that Australia’s prolonged police state methods are a product of its failure to significantly invest in a large supply of vaccines. In closing his argument, Friedersdorf presents the poignant question specifically for the supposedly liberal, democratic government of Australia: “[H]ow much time must pass before we must regard Australia as illiberal and unfree?”

In the face of an “invisible enemy,” many Western nations have implemented emergency measures that were once considered dystopian and wholly incompatible with liberal democracy. The adoption of such intrusive and draconian measures would not be possible without the constant fear-mongering drumbeat of the news media, which has led to many so-called liberals devaluing the meaning of freedom and liberty in order to ensure their own “safety.” To be sure, freedom and liberty do not require one to abandon safety, and safety does not require the abandonment of freedom and liberty. 

The problem with the Western adoption of vaccination passports, enforced universal masking, and draconian lockdowns is that mass protests in opposition to those policies have sprung up in nearly every Western country. Here are just a few examples:

  • Governors of two of the largest states in the United States have waged a full-on assault on the perceived overreach of the Biden administration’s public health edicts, specifically President Biden’s recent executive order on mandating covid-19 vaccines.
  • A group of truck drivers in Australia threatened to strike against public health restrictions in late August; the truck drivers urged “Australians to stock up on groceries and other supplies before the protest disrupts the supply chain.”
  • In France, mass protests against vaccination passports have raged for months as the “unvaccinated” worry about a two-tier society.
  • In Canada, the Provinces of Quebec and Ontario have announced the development of vaccination passport applications, which have resulted in some small protests.

As everyday life begins to adjust back to its precovid normal, it is of paramount importance that everyday individuals push back against government attempts to maintain emergency powers despite the absence of a raging pandemic. Similarly, it is past time that we demand clear goals from public health experts on what level of “herd immunity” is necessary to emerge from the officially recognized pandemic. If both tasks fail, it is not clear that the West will emerge from the pandemic as anything remotely resembling liberal. Author:

Mitch Nemeth

Mitchell Nemeth is a Risk Management and Compliance professional in Atlanta, Georgia. He holds a Master in the Study of Law from the University of Georgia Law School, and he has a BBA in Finance from the University of Georgia. His work has been featured at the Foundation for Economic Education, RealClearMarkets, Merion West, and Medium.

Creative Commons Licence

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Evergrande Isn’t China’s “Lehman Moment.” It Could Be Worse than That. | Mises Wire

Posted by M. C. on September 28, 2021

The problem with China is that the entire economy is a huge indebted model that needs almost ten units of debt to generate one unit of GDP, three times more than a decade ago, and all this catastrophe was already more than evident months ago. With total debt of 300 percent debt to GDP according to the Institute of International Finance, China is not the strong economy swimming in with cash that it was a couple of decades ago.

https://mises.org/wire/evergrande-isnt-chinas-lehman-moment-it-could-be-worse

Daniel Lacalle

The bankruptcy of the Chinese real estate company Evergrande is much more than a “Chinese Lehman.” Lehman Brothers was much more diversified than Evergrande and better capitalized. In fact, the total assets of Evergrande that are on the brink of bankruptcy outnumber the entire subprime bubble of the United States. https://www.youtube.com/embed/21NZrBgCiH8?feature=oembed

The problem with Evergrande is that it is not an anecdote, but a symptom of a model based on leveraged growth and seeking to inflate GDP at any cost with ghost cities, unused infrastructure, and wild construction. The indebtedness chain model of Evergrande is not uncommon in China. Many Chinese companies follow the “running to stand still” strategy of piling on ever-increasing debt to compensate for poor cash flow generation and weak margins. Many promoters get into massive debt to build a promotion that either is not sold or is left with many unsold units, then efinance that debt by adding more credit for new projects using unsaleable or already leveraged assets as collateral.

The total liabilities of Evergrande account for more than double its official debt figure (more than 2 trillion yuan). Evergrande’s financial hole is equivalent to almost a third of Russia’s GDP. Its annual revenues do not reach $70 billion, and it is more than debatable whether those revenues are real, since a relevant part comes from payment commitments whose collection is doubtful. Even if they were real, these revenues are not enough to address the bond maturities, which exceed $250 billion in the short term.

Evergrande is much more dangerous than it seems:

All the “Keynesian” solutions that you are hearing these days have already been implemented. Massive liquidity injections, low interest rates, full implicit and explicit support from the Chinese government … Let’s not forget that Evergrande was the largest issuer of commercial paper in China, $32 billion issued in 2020, a 390 percent increase from 2015, according to Reuters.

Evergrande represents less than 4 percent of the overall Chinese market but its model has been used by many Chinese promoters. The ten biggest real estate developers account for 34 percent of the market and aggressive leverage practices are widespread.

The real estate sector is huge in China. Its direct and indirect weight, according to JP Morgan, is 25 percent of GDP, more than double the size of the real estate bubble in Japan or Spain. The sector has been growing with an indebted model at 15 percent per year in the last three years. The Chinese government has introduced regulations to reduce the excess, but because it benefits from the increase in GDP and job creation, it has maintained a complacent position regarding the corporate debt model.

Chinese real estate companies, according to JP Morgan, have “reduced” their indebtedness to 92 percent of total assets from a monster 140 percent in 2018, with a profit margin of 9–13 percent. But those figures still show a larger and more concerning problem than what headlines imply. Most Chinese real estate developers have total liabilities of 50 percent to total assets, according to JP Morgan. The problem is that the value of those assets and the capacity to sell them is more than questionable.

The implications of an Evergrande collapse are far greater than what investment banks tell us.

The first risk is a domino effect in a very aggressively indebted sector. There is also a significant impact on all those banks exposed to China and emerging markets, where China has financed ruinous projects in recent years. And there is also impact on global growth and countries that export to China, because the slowdown was already more than evident. Additionally, we cannot ignore the impact on the solvency of the financial system despite billions of dollars injected
by the People’s Bank of China.

A Solvency Problem Cannot Be Solved with Liquidity.

The hope that the government will fix everything contrasts with the magnitude of the financial hole. Be that as it may, we cannot overlook the negative effect on those sectors highly exposed to real estate growth, infrastructure, electricity, services, and in the hundreds of thousands of citizens who have paid an upfront fee for flats that are not going to be built.

The problem with China is that the entire economy is a huge indebted model that needs almost ten units of debt to generate one unit of GDP, three times more than a decade ago, and all this catastrophe was already more than evident months ago. With total debt of 300 percent debt to GDP according to the Institute of International Finance, China is not the strong economy swimming in with cash that it was a couple of decades ago.

The market assumed that because it is China, the government was going to hide these risks. Even worse, the Evergrande collapse only shows a dangerous reality in several Chinese sectors: excessive indebtedness without real income or assets to support it.

This episode comes at the worst possible time, after the government has launched a massive crackdown on large companies. International investors are already concerned about corporate governance and intervention in China and now the fears of credit contagion make the risk even worse.

Evergrande is not an anecdote, it is a symptom.

Author:

Daniel Lacalle

Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020),Escape from the Central Bank Trap (2017), The Energy World Is Flat (2015), and Life in the Financial Markets (2014).

He is a professor of global economy at IE Business School in Madrid.

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Réseau Voltaire-The AUKUS preparing a nuclear war to sustain Taiwan

Posted by M. C. on September 24, 2021

The official reactions to the announcement of the Australian-British-US pact (AUKUS) are only about the termination of the Australian-French arms contract. As terrible as this is for the shipyards, it is only a collateral consequence of a reversal of alliances aimed at preparing for a war against China.

https://www.voltairenet.org/article214159.html

by Thierry Meyssan

The announcement of the Australian-British-US (A-UK-US) pact [1] was like an earthquake in the Indo-Pacific region.

There is no doubt that Washington is preparing for a long-term military confrontation with China.

Until now, the Western deployment to contain China politically and militarily has involved the United States and the United Kingdom as well as France and Germany. Today, the Europeans are left out. And tomorrow the area will be controlled by the Quad+ (US and UK, plus Australia, India and Japan). Washington is preparing a war in one or two decades.

While France and Germany have not been consulted on this strategy, nor even warned of its public announcement (but other countries had been warned, such as Indonesia), the new device should be staged next week in Washington.

While it is logical that London and Washington should rely on Camberra rather than Paris, since Australia is a member of the “Five Eyes” with which France is just associated, the entry into the game of Japan and especially India puts an end to a long period of uncertainty. More troubling is the role assigned to Germany, which could join the “Five Eyes” [2], but not the Quad, i.e. spying on telecommunications, but not military action.

Admiral John Aquilino, commander of US forces in the Indo-Pacific.

Alliances shaken up

This new situation forces each alliance to reposition itself.

The A-NZ-US, which linked Australia, New Zealand and the United States, has not been in operation since 1985 and has been definitively buried. New Zealand had affirmed its policy of nuclear disarmament and consequently refused entry to its ports to nuclear-armed or nuclear-powered ships. Since the Pentagon refuses to reveal these “details”, no US warship has entered the country. Future Australian submarines will also be banned.

For the moment, the European Union has not reacted. Commission President Ursula von der Leyen, who was giving a state of the Union address [3] on the same day the AUKUS pact was announced, is paralyzed. She was talking about her new strategy in the Indo-Pacific area, while the Brexit Brits were pulling the rug out from under her. Not only is the European Union not a military power, but those of its members who are, will no longer have a say.

NATO is silent. It had ambitions to expand in the Indo-Pacific and understands that it will not be part of the game.

See the rest here

Thierry Meyssan

Translation
Roger Lagassé

Printable version

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AUKUS: Banging The China War Drum

Posted by M. C. on September 16, 2021

The US, UK, and Australia have announced a new alliance aimed at “countering China’s influence.” The deal includes cancelling an Aus/French deal for French submarines and the Australian purchase of US nuclear subs instead. Who, aside from the military contractors, benefits from ramping up war footing?

How hospital “director of marketing” ramps up fear.

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