What Taiwan and the US have in common? April 27, 2013
Posted by hslu in China, Economics, Global Affair, Politics, Restaurants.Tags: America, Heartland Monitor, Middle class, National Journal, Taiwan
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Hollowing out in the middle! That’s what Taiwan and the US have in common!
It is sad but truth.
The only differences are:
1. Taiwan is in a much advanced stage in this path to destruction while the US is starting to pick up the pace.
2. China did most of this to Taiwan by draining capitals and brain power from Taiwan. Korea and Singapore also contributed to Taiwan’s downfall. 馬英九’s incompetence and gridlock in Taiwan’s government didn’t help either. In the wake of this giant sucking sound since the middle of 1990′s was the flourishing of service-oriented sectors in Taiwan: tourism, restaurants, hotels, taxi, massage parlors and night markets. The riches are richer from their operations pin China while the poor was making lower and lower wages because the service industries don’t pay a lot.
3. Global competition in many sectors has squeezed the American’s middle class out of once good paying jobs. The proof is clearly demonstrated by the 90 million people who are not working but who are not counted as unemployed by the Labor Department. These people have been out of jobs for so long that they are not actively seeking employment any more. They have simply given up looking. Well, that’s why the official unemployment rate in the US is now 7.6% instead of 14+% or so. The Main Street media hides this truth from the American people but the bleeding from the middle has been painfully real.
Just read the article by National Journal and you’ll see the sorry state of the United States.
With Bernanke printing money day and night, the United States is tracing Japanese’s path of lost decade(s) by piling up debt, perpetual anemic growth and ultimately a shrinking economy.
Who gives US the right to say so？ April 15, 2013
Posted by hslu in Global Affair, Politics.Tags: US， Venezuela，election recount
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Here is another example of America’s constant intrusion into other country’s internal business as reported by Reuters on Venezuelan’s election results.
Here is the headline on Reuters:
“White House Says Venezuela Election Audit a Must”
Hmm…., I wonder who gives US the right to say that?
It’s not America’s business regarding which candidate in Venezuela won the election. It’s Venezuela citizens’ business, fair or not.
On the other end of the spectrum, we have Putin who congratulate Maduro in another Reuters report.
According to Reuters, the election board will disregard the call for recount and award the election to Maduro, the hand-picked successor by Hugo Chavez.
It looks like America will continue to have an enemy in his back door for a few more years. Look for Maduro in Moscow in a few months. He’ll show up in Tehran and a few other places soon.
馬英九, 中國和台灣的統一 April 14, 2013
Posted by hslu in China, Global Affair, Politics, Taiwan.Tags: 馬英九，連戰，中國，台灣
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A few weeks ago I saw an article in the Chinese World Journal, 世界日報, about 連戰 meeting high level Chinese leaders discussing issues of the unification of China and Taiwan.
I commented before about 馬英九’s unwillingness to event mention unification for feel of criticism from the public and the opposition party. I also made some suggestions online because 馬英九 should use his second term to lay the ground rules in which the political discussion should follow. Well, of course, he won’t listen to me.
Now that the high profile visit by 連戰 has started the bilateral discussion, whether 馬英九 likes it or not, what I think will happen is the discussion will progress w/o 馬英九. 25 or 50 years from now when unification becomes a reality, 馬英九 will be left without a legacy to show off.
Eventually, the history will show the credit belonged to 連戰 and the others. 馬英九, under his policy of 不戰，不統，不和，was the undisputed bumbler who was left holding the bag.
Poor 馬英九！He can’t help it! The indecision is in his blood. After 5 years in the office, he has no place to hide anymore.
A mouse in the street April 14, 2013
Posted by hslu in Global Affair, Politics.Tags: Iran, Japan, North Korea， US, nukes
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Japan, US say North Korea can not have nuclear arms.
My first reaction to this Reuters headline was “why can’t North Korea have it while US still has thousands of nuclear missiles ?”
If North Korea can not have nukes, then US should destroy all its nuclear weapons too. I said it before about Iran’s nuclear program and I will say it again about North Korea.
Chinese has a subtle way to describe the bully, the United State, which goes like this:
只許州官防火
不許百姓點燈
As for the clowns who help the bully against the others, Japan in this case, we also have something for them:
狐假虎威
North Korean is:
過街的老鼠
大家喊打
Currency War: US dollar vs Renminbi April 13, 2013
Posted by hslu in China, Cold War, Economics, Global Affair.Tags: Bernanke, Currency war, Renminbi, US Debt, US dollar
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Step by step, Chinese’s currency is chipping away green back’s dominance on the world’s stage. The latest player coming on board is France, according to a Reuters article. It appears that France likes to set up a direct currency swap line with China and what’s left to decide is the terms of the deal in terms of the size of the swap and its duration.
http://mobile.reuters.com/article/businessNews/idUSBRE93C01S20130413?irpc=932
The reason is simple to understand: the US dollar is losing its value thanks to Bernanke. France is simply looking after its own interest because there is BIG money to be made in direct trades with China and on being a hub of Europe’s Renminbi trading center. If France does not act fast, it will lose the fight to London forever.
France’s brand new president will visit China and an announcement is expected soon.
America is making new friends with Vietnam and Phillipines and swears to help Japan in a war. It has made major shift of its military might to the Asian theater since a couple of years ago under Clinton. The sole intent is to block the advancement of China.
China knows that and China is avoiding direct conflict with America because its military is nit even one tenth of the size of that of the US.
Instead of fighting the US with guns, nuclear missiles and air carriers, China is fighting US on the economic front. The fight will be long and hard, but China is very patient.
Besides, China doesn’t have $16.5 trillion debt. It doesn’t have 9 air carriers or billion dollar fighter jets (that’s a billion dollar each) to support either. Oh yeah, did I mention Obamacare? That will definitely be a deeper hole for Americans to dig themselves out with.
Hmmm……. 鹿死誰手還待下回分解！
I for one is waiting patiently too.
Obama will raid our IRA April 7, 2013
Posted by hslu in Obama, Politics, Retirement, Taxes.Tags: Cyprus, IRA, Obama
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Don’t blink, Obama is going after our IRA’s.
After Cyprus, everything is possible with the most liberal president in the US history. He wants your money to keep the spending going.
In a few days, you’ll find out his plan on our IRAs and with this blog, consider you are forewarned. If the Democrats controls both the Congress and the Senate after 2014 election, we are doomed.
Blacks in general don’t like the rich and they think the society owes them something. Obama, being a black, is leading the charge to raid rich of their money and re-distribute the wealth around. What he has done before was tax the rich and the middle class. With his plan on IRAs, he is reaching for our wealth.
Buffett is willing to pay more income tax because he has a lot of non-taxibile incomes. Asking him what will he do if Obama asks for a portion of his wealth?
Should China Label the U.S.a Currency Manipulator? Yes, of course. November 30, 2012
Posted by hslu in China, Economics, Euro, Global Affair, Obama, Politics.Tags: Ben Bernanke, Bernanke, China, Currency intervention, Economic, Obama, Renminbi, United States, United States Department of the Treasury
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Obama administration has just decided not to label China a Currency Manipulator.
For good reasons.
Actually, the real question should be “Should China label the U.S.a currency manipulator? ” The answer is, of course, “yes!”
Just ask Bernanke! He’ll tell you that’s exactly what he intended to do and we have WSJ to prove this: “Bernanke wanted developing economies to let their currencies appreciate.”
http://online.wsj.com/article/SB10000872396390443749204578055600111447318.html
All that fiat money printed by Bernanke for QE3, $40 billion every month until who know when, is searching for higher yields and a lot of that has gone to the purchases of currencies of foreign countries.
America is not only manipulate the US dollar, it even wants to manipulate other weaker countries’ currencies.
It really give “currency Manipulator” a new meaning.
Whether Bernanke succeed or not is not the question answer
China is a friend of Canada November 23, 2012
Posted by hslu in China, Cold War, Congress, Economics, Energy, Global Affair, Obama, Oil.Tags: Canada, CEO, China, China National Offshore Oil Corporation, CNOOC, Justin Trudeau, Nexen, Nexen Oil Sand, NXY, Pierre Trudeau, United States, 中国海洋石油有限公司
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The United States, especially those in the White House (e.g., Obama) and many in the Congress, e.g., Charles Schumer, treats China like an enemy. As such, the U.S. has rejected previous bids by Chinese companies to merge with US-based companies citing national security among other concerns.
Well, not every western country is this stupid. I believe that Canada sees China as a friend and a business partner. A good trading relationship with China will generate much more opportunities in China for Canadian companies in the future.
We’ll know pretty soon whether my guess is right or not because, in case you haven’t heard, China’s CNOOC (NYSE: CEO) has offered to buy Canada’s Nexen Inc. (NYSE: NXY) for $27.5 per share, a 60% premium over Nexen’s market value in late July, 2012. CNOOC is China’s Offshore oil company.
中国海洋石油有限公司
I am actually very hopeful that the government of Canada will make the right decision to accept CNOOC’s bid even though the decision has been moved back one month to early December, 2012. The Canadian government may announce its decision in the first or second week of December, 2012.
The reasons I am hopeful is that Canada is less hostile to Chinese companies and Canada actually needs foreign capital injection to develop its vast oil sand resources in Alberta.
In additional, Justin Trudeau, son of Canada’s legendary Prime Minister, Pierre Trudeau and the leader of the the Liberal Party, wrote an Op-Ed piece saying that
“CNOOC-Nexen deal is good for Canada,”
According to Mr. Trudeau, the deal makes sense because:
- Canada’s economic prospects have always been tied to trade. We are a small market that must export and attract investment to create jobs and growth, and import to keep costs down and provide choice for middle-class families.
- For much of our history, the only trading relationship that mattered was with the United States. From Laurier to Mulroney, it defined our politics in watershed elections that bookended the last century, and inflamed passionate debates about national identity throughout. That was the 20th century. The 21st century is different. Trade remains a paramount objective, but we can no longer rely on the U.S. alone to drive our growth.
- Our relationship with our southern neighbour remains our most important, but we cannot afford to miss vital opportunities elsewhere. By 2030, two-thirds of the planet’s middle class will be in Asia. How we define and manage our relationship with Asian economies to play a Canadian role in fuelling that growth will matter as much to the Canadian middle class in this century as our relationship with the U.S. did in the last.
- Because Chinese and other foreign investors will create middle-class Canadian jobs. Foreign investment raises productivity, and hence the living standards of Canadian families.
- We deceive ourselves by thinking that trade with Asia can be squeezed into the 20th-century mold. China, for one, sets its own rules and will continue to do so because it can.
- China has a game plan. There is nothing inherently sinister about that.
Well said, Mr. Trudeau.
I guess that raising the living standard of American people has never crossed the minds of the likes such as Obama or Schumer when they rejected China’s bid for American companies in the past.
Oil sand business is a capital intensive business. Canada needs capital to create good paying jobs and China has the need to secure its long term energy supply. As such, I believe that Canada-China cooperation is a perfect match. Since Obama didn’t want Canadian oil (He killed the shovel-ready Keystone XL Pipeline,) Canada can sell its oil to China and other Asian countries.
Better yet, I bet you that China like to build a pipeline and send Alberta oil to the Pacific coast where it can be transported to satisfy the needs from the booming Asian economies. I bet, Japan wouldn’t mind buying Canadian oil either because it is closer and it comes from a country where, unlike many oil-producing countries in the Middle East, the government is much more stable.
I am hopeful because, no matter what Obama says, China is a friend of China.
By the way, if the deal goes through, you can make an easy 10% profit based on the current price of NXY. If you want to check out options, you might want to consider Jan 25 call which is at $1.80 now. March 25 calls is only $1.85
Nexen Inc. (yahoo.com)
马英九 is an “Ineffectual Bumbler？” But I says it is a “机会。“ November 19, 2012
Posted by hslu in China, Chinese, Global Affair, Politics, Taiwan.add a comment
This was the term “The Economist” used to describe Taiwan’s president 马英九 in its most recent print issue.
http://www.economist.com/news/asia/21566657-former-heart-throb-loses-his-shine-ma-bumbler
Here are some of the terms used in the article when it described :
Before he took the office, The Economist says these about 马英九:
- heart-throb
- a clean technocrat
- offered Taiwanese high hopes
- promised ground-breaking agreements with China
- rise above the cronyism and infighting of his party
- welcome contrast to his pro-independence predecessor, Chen Shui-bian, now is in jail for corruption.
After five years since he took the office, these are what The Economist has to say about him:
- popular satisfaction plummeted to a record low of 13%
- an ineffectual bumbler
- failed to paint a more hopeful future
- frequently tweaks policies in response to opposition or media criticism
- Cracks are starting to grow in the KMT （国民党）façad （note：马英九is the Chairman of 国民党）
- clean image has been sullied by the indictment of the cabinet secretary-general for graft
It’s about time for a foreign publication to notice the obvious even though many people, me included, have stated a few times in the past about 马英九’s indecisiveness. His problem was and still is: “He acts like a “墙头草: qiang tou cao” because he doesn’t know how to lead.”
Of course, I am a nobody and no one cares about what I had to say. But, I am hopeful that 马英九 can take this as a constructive criticism, learn from his mistakes, change his leadership and management style and comes out of this dark cloud hanging over his head as a new man.
He has less than four year to prove many people like me wrong.
The first thing he needs to to do is to get rid of “不統；不獨；不武“ policy for his current term because:
1. 不統；Unification with China in one form or the other is inevitable. He should get the political process started and use his second term to lay the necessary groundwork for a lasting peace (和平統一) between two sides. This will be his only legacy if he wants people forget his ineffectual bumbler reputation. Under unyielding pressure from China, people in Taiwan has been getting used to “Taiwan” instead of “The Republic of China” as culture, art, business, economy and currency integration pick up pace in recent years. The unification process can not be reversed whether Taiwanese people like it or not. It actually started in the early 90′s when Taiwanese businessmen and businesswomen gave up their Taiwan-based plants and operations for a chance to make big money in China. With the pending currency exchange, the point of no return has been crossed. Taiwan’s life line is in the hands of China.
2. 不獨；This is a given as far as China is concern and people in Taiwan have more or less accepted this fact. Even 民进党，the pro-independent Democratic Progressive Party, realized the line in the sand drawn by China. I bet you a steak dinner that leaders of DPP will ask for a chance to visit China within a couple of years if they ever want to recapture the presidency.
3. 不武：When 马英九 first proposed this about five years ago, he, in my opinion, put himself and by extension Taiwan at a great disadvantage. In essence, 马英九 asked China not to invade Taiwan because he has promised that he will not seek independence or不獨 in his first term. He realized that Taiwan has no capital or ”本钱“ to wage military confrontation with China and America will not waste their own blood and lives to defend Taiwan because America “自顾不暇。” 不武 was basically superfluous. It was not needed.
One thing is very clear to me: China is building up its naval force to protect its territories and national interests including but not limited to a steady supply of petroleum products from Mid East and other foreign countries. In the process, Taiwan’s strategic position becomes marginalized and America knows this. In the mean time, Taiwan becomes deeply entangled with China socially and economically to the point that Taiwan’s life line is in the hands of China.
I believe that 马英九 and his underlings know this too. Unfortunately, the more he waits, the less time and bargaining chips there are to start a formal negotiation with Beijing. 马英九 should ask a reputable person from third country (any one except U.S. or Japan) to negotiate covertly on his behalf with Beijing in order to devise a workable plan that’s agreeable to the majority of Taiwanese people. After all, in spite of all the fighting in its legislature body on TV, Taiwan is very proud of its democracy.
if 马英九 doesn’t know where to start, allow me to recommend Helmut Kohl who, among others, was responsible for the unification of West and East Germany. If 马英九 can pull this off with any degree of success, the Nobel Peace Prize “非他莫属。”
