Category Archives: China

Chinese millionaire sues himself through an offshore shell company to beat currency export controls

China’s millionaires, having looted their country, are anxious to get their money out of reach of the Politburo, to guard against confiscation should the political tides turn. Only one problem: the government will only let Chinese nationals move $50K/year out of the country.

The majority of China’s new super-rich are prepped to leave the country, but getting their cash out is a serious problem. Much of the volatility in Bitcoin can be ascribed to Chinese elites using the cryptocurrency to smuggle cash out of the PRC. With the Chinese Yuan tanking, the race is on to convert Chinese wealth to other currencies and get out while the getting is good.

But there’s a better way: for a small sum, you can just set up an offshore shell company, direct it to sue a Chinese company you own, throw the lawsuit, and then, oh well, I guess there’s nothing for it but to send a bunch of cash to your shell company, exempted from export controls, in the form of court-ordered damages.

http://boingboing.net/2016/02/18/chinese-millionaire-sues-himse.html

Pierre Ryckmans, 78, Dies; Exposed Mao’s Hard Line

Pierre Ryckmans, a Belgian-born scholar of China who challenged a romanticized Western view of Mao Zedong in the 1960s with his early portrayal of Mao’s Cultural Revolution as chaotic and destructive, died on Monday at his home in Sydney, Australia. He was 78.

His daughter, Jeanne Ryckmans, said the cause was cancer.

Mr. Ryckmans, who was better known by his pen name, Simon Leys, fell in love with China at the age of 19 while touring the country with fellow Belgian students in 1955. One highlight was an audience with Prime Minister Zhou Enlai. The man-made famine of Mao’s Great Leap Forward and his Cultural Revolution, which began in 1966 and ended about the time of Mao’s death, in 1976, were still in the future. There was much to be admired in the new China.

Yet pursuing his studies of Chinese art, culture and literature in the People’s Republic itself was not an option for a Westerner, so he settled in Taiwan, where he met his future wife, Han-fang Chang. He also lived in Singapore and Hong Kong.

http://www.nytimes.com/2014/08/15/world/pierre-ryckmans-78-dies-exposed-maos-hard-line.html?_r=0

Hmmm. Foreign workers expelled from Hong Kong.

open quoteIn a landmark decision Hong Kong’s highest court on Monday ruled against granting residency to two Filipino maids, dashing the hopes of several hundred thousand other domestic helpers from ever gaining permanent residency in the city.

Five judges on the Court of Final Appeal ruled unanimously that Evangeline Banao Vallejos and Daniel Domingo would not be allowed to settle permanently in Hong Kong after residing here for over seven years, a period that would ordinarily qualify foreigners to become permanent residents under the constitution.

The court ruled that maids should not be treated as “ordinarily resident” in the financial hub given contracts that tied them to finite stints of temporary employment.close quote (Read more)

China Is Engineering Genius Babies

open quote It’s not exactly news that China is setting itself up as a new global superpower, is it? While Western civilization chokes on its own gluttony like a latter-day Marlon Brando, China continues to buy up American debt and lock away the world’s natural resources. But now, not content to simply laugh and make jerk-off signs as they pass us on the geopolitical highway, they’ve also developed a state-endorsed genetic-engineering project.

At BGI Shenzhen, scientists have collected DNA samples from 2,000 of the world’s smartest people and are sequencing their entire genomes in an attempt to identify the alleles which determine human intelligence. Apparently they’re not far from finding them, and when they do, embryo screening will allow parents to pick their brightest zygote and potentially bump up every generation’s intelligence by five to 15 IQ points.close quote (Read more)

Chinese man sues wife, wins after ‘incredibly ugly’ baby is born

open quoteA man from northern China who divorced and sued his wife earlier this year for being ugly has recently won the lawsuit, according to a report from PlanetIvy.com.

Jian Feng said his issues with his wife’s looks only began after the couple’s daughter was born. Feng was appalled by the child’s appearance, calling her “incredibly ugly” and saying she resembled neither one of her parents.

With that being the case, Feng initially accused his wife of cheating. It was at that point that his wife, who has not been named, came forward saying she had spent $100,000 on intense plastic surgeries to drastically change her appearance before she met Feng. She never told Feng about those surgeries.

When Feng found out about the procedures, he filed the lawsuit. He said the woman convinced him to marry her under false pretenses.

A judge agreed, awarding Feng $120,000.close quote (Read more)

Chinese Protesters Chant “Down With US Imperialists”, Attack Car Of US Ambassador In Beijing

open quoteElsewhere, the US foreign department may have to promptly find an anti-Buddhist hate tape made in the US, because otherwise the attack of the US ambassador Gary Locke’s car in Beijing may have to be explained using good old fashioned simmering hatred and anti-American sentiment without an actual inflamatory event.close quote (Read more)

China Announces How It Would Go To War Against The US Fleet

If, God forbid, a major naval engagement happens somewhere in the world, we will likely see the end of surface warfare. The economics favors the defender. It is easier to hit a ship with a missile than it is to hit a missile with a bullet. Also, if shooting missiles at ships, a 1% success rate is devastating. In contrast, for the side trying to shoot missiles with bullets, a 99% success rate can be disastrous.

The idea of an empires military supremacy generally outlives the reality. Given the characteristic arrogance of our political leaders, it is unlikely that this will end well.

And once it happens – Lord help us. It will be another 9/11. No dissenting opinion will be able to withstand the rhetoric surrounding hundreds of dead sailors. Every tyranny and every tax will be introduced to re-established the refuted idea of surface warfare and American military invincibility.

open quoteThe U.S. has made no secret that it’s pulling its focus from the Middle East and directing military attention to the Pacific, and now China is pushing back.

The Economic Times reports China is increasing its conventional missile capability to carry out multiple launches, the one tactic that could overwhelm a Navy ship’s defenses and cripple its abilities.

Tan Weihong, Commander of China’s Second Artillery Force says, “Conventional missiles are a trump card in modern warfare. So we must be ready at any time. We must be able to deliver a quick response to attacks, hit the targets with high accuracy, and destroy them totally. Of the 114 missiles [our brigade] has launched so far, all have accurately hit the target.”

For each incoming missile a U.S. Navy ship will have to perform some variation of the following actions:

First it will launch a long-range air defense missile, like a SM-2ER. If that fails, then a shorter range missile like the ESSM (Evolved Sea Sparrow Missile) will go out — then the ship’s main deck guns will fire anti-air rounds with fused airburst shells.

Surviving missiles will be engaged by close-in weapons systems like the Mk-15 Phalanx or the RAM (Rolling Airframe Missile). Any incoming missiles struck by these systems will be so close, and moving so fast, that incoming shrapnel and debris would likely be unavoidable.

While all these “Hard Kill” options are going on, the ship’s electronic warfare systems will have been trying to jam the incoming missile, offering the missile a false target, while firing off chaff (for radar guided weapons) and flares (for infrared guided weapons).

All that for every single missile, so if China can send off several at once directed at the same ship, the chances of success on their part may increase exponentially.close quote

Read more: http://www.businessinsider.com/china-announces-how-it-will-decimate-the-us-fleet-should-conflict-ever-break-out-2012-6#ixzz1yWakyV3B

Shanghai Composite Index Reflects Tienanmen Square massacre – Censored by China

The Shanghai Composite Index was down 64.89 on the anniversary of the massacre, which occurred on June 4, 1989.

open quoteWritten in the American style, the date of Tiananmen Square was 6/4/89.

The WSJ also notes that the days opening was 2,346.98, which seems to refer to 23, and the date reversed.

Predictably, of course, searches for Shanghai Composite Index were banned on Weibo within hours.close quote (Read more)

China Forbids International Tourism to Tibet Indefinitely

open quoteIn a matter of days, the number of expected foreign visitors to Tibet has gone from millions to zero.

Chinese authorities alerted foreign travel agencies Tuesday that they would no longer be issuing entry permits to Tibet, the latest in a series of regulations being put on travelers to Tibet. The announcement follows the self-immolation of two Tibetans last week.

Tibet is no stranger to Chinese interference in its tourism industry. Tibet’s failed rebellion in March 1959 and the event’s annual memorial on National Uprising Day has chronically put the region at odds with the People’s Republic of China. In 2008, protests after National Uprising Day turned into riots that were met with violence by PRC forces. The Chinese government temporarily closed Tibet to foreign visitors. That is a now-annual practice in March, and during other national events significant to the Chinese government.close quote (Read more)