Shanghai Composite Impresses

Recent gains in the Shanghai Composite Index impresses the Wall Street Journal.


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The U.S. total deficit with China hit a record $29.5 billion

In October 2012, the government has been reported that the U.S. total trade deficit with China hit a record $29.5 billion. Congratulations, America: another sign of a robust and recovering economy no doubt.

China will overtake the U.S. in smartphones

Mobile analytics company Flurry predicts that China will overtake the U.S. in iOS and Android installations by the first quarter of 2013. According to Flurry’s estimates, China has 167 million iOS and Android devices active, trailing the U.S. by a scant 14 million smartphones. With a growth rate approaching 300%, China is on a pace to eclipse the U.S. very soon indeed.

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Searching for the Google of China

WSJ article

India, China and others continue to buy gold

The Bastiat Collection (2011); originally from the second series of Economic Sophisms (1848)

There is nothing that is not pretended by the writers in favor of protection to be established as an aid to the working classes — there is positively no exception, not even the custom house. You fancy, perhaps, that the custom house is merely an instrument of taxation like property taxes or the toll bar! Nothing of the kind. It is essentially an institution for promoting the march of civilization, fraternity, and equality. What would you be at? It is the fashion to introduce, or affect to introduce, sentiment and sentimentalism everywhere, even into the toll gatherer's booth.

The custom house, we must allow, has a very singular machinery for realizing philanthropical aspirations.

It includes an army of directors, subdirectors, inspectors, subinspectors, comptrollers, examiners, heads of departments, clerks, supernumeraries, aspirant supernumeraries, not to speak of the officers of the active service; and the object of all this complicated machinery is to exercise over the industry of the people a negative action, which is summed up in the word obstruct.

Observe, I do not say that the object is to tax, but to obstruct. To prevent, not acts that are repugnant to good morals or public order, but transactions that are in themselves not only harmless but fitted to maintain peace and union among nations.

And yet the human race is so flexible and elastic that it always surmounts these obstructions. And then we hear of the labor market being glutted.

If you hinder a people from obtaining its subsistence from abroad it will produce it at home. The labor is greater and more painful, but subsistence must be had. If you hinder a man from traversing the valley he must cross the hills. The road is longer and more difficult, but he must get to his journey's end.

This is lamentable, but we come now to what is ludicrous. When the law has thus created obstacles, and when in order to overcome them society has diverted a corresponding amount of labor from other employments, you are no longer permitted to demand a reform. If you point to the obstacle you are told of the amount of labor to which it has given employment. And if you rejoin that this labor is not created, but displaced, you are answered in the words of the Esprit Public, "The impoverishment alone is certain and immediate; as to our enrichment, it is more than problematical."

This reminds me of a Chinese story, which I will relate to you.

There were in China two large towns, called Tchin and Tchan. A magnificent canal united them. The emperor thought fit to order enormous blocks of stone to be thrown into it for the purpose of rendering it useless.

On seeing this, Kouang, his first mandarin, said to him, "Son of Heaven! This is a mistake."

To which the emperor replied, "Kouang, you talk nonsense."

I give you only the substance of their conversation.

At the end of three months the celestial emperor sent again for the mandarin, and said to him, "Kouang, behold!"

And Kouang opened his eyes, and looked.

And he saw at some distance from the canal a multitude of men at work. Some were excavating, others were filling up hollows, leveling and paving. And the mandarin, who was very cultivated, said to himself, They are making a highway.

When another three months had elapsed, the emperor again sent for Kouang and said to him, "Look!"

And Kouang looked.

And he saw the road completed, and from one end of it to the other he saw here and there inns for travelers erected. Crowds of pedestrians, carts, litters, came and went, and innumerable Chinese, overcome with fatigue, carried back and forth heavy burdens from Tchin to Tchan, and from Tchan to Tchin. And Kouang said to himself, It is the destruction of the canal that gives employment to these poor people. But the idea never struck him that their labor was simply diverted from other employments.

Three months more passed, and the emperor said to Kouang, "Look!"

And Kouang looked. And he saw that the hostelries were full of travelers, and that to supply their wants there were grouped around them butchers' and bakers' stalls, shops for the sale of edible bird nests. He also saw that, the artisans having need of clothing, there had settled among them tailors, shoemakers, and those who sold parasols and fans; and as they could not sleep in the open air, even in the Celestial Empire, there were also masons, carpenters, and slaters. Then there were officers of police, judges, fakirs; in a word, a town with its suburbs had risen round each hostelry.

And the emperor asked Kouang what he thought of all this.

And Kouang said that he never could have imagined that the destruction of a canal could have provided employment for so many people; for the thought never struck him that this was not employment created but labor diverted from other employments, and that men would have eaten and drunk in passing along the canal as well as in passing along the highroad.

However, to the astonishment of the Chinese, the Son of Heaven at length died and was buried.

His successor sent for Kouang, and ordered him to have the canal cleared out and restored.

And Kouang said to the new emperor, "Son of Heaven! You commit a blunder."

And the emperor replied, "Kouang, you talk nonsense."

But Kouang persisted, and said, "Sire, what is your object?"

"My object is to facilitate the transit of goods and passengers between Tchin and Tchan, to render carriage less expensive, in order that the people may have tea and clothing cheaper."

But Kouang was ready with his answer. He had received the night before several numbers of the Moniteur Industriel, a Chinese newspaper. Knowing his lesson well, he asked and obtained permission to reply, and after having prostrated himself nine times, he said, "Sire, your object is, by increased facility of transit, to reduce the price of articles of consumption, and bring them within reach of the people; and to effect that you begin by taking away from them all the employment to which the destruction of the canal had given rise. Sire, in political economy, nominal cheapness—"

The emperor: "I believe you are repeating by rote."

Kouang: "True, Sire; and it will be better to read what I have to say."

So, producing the Esprit Public, he read as follows:

In political economy, the nominal cheapness of articles of consumption is only a secondary question. The problem is to establish an equilibrium between the price of labor and that of the means of subsistence. The abundance of labor constitutes the wealth of nations; and the best economic system is that which supplies the people with the greatest amount of employment. The question is not whether it is better to pay four or eight cash for a cup of tea, or five or ten taels (Chinese money) for a shirt. These are puerilities unworthy of a thinking mind. Nobody disputes your proposition. The question is whether it is better to pay dearer for a commodity you want to buy, and have, through the abundance of employment and the higher price of labor, the means of acquiring it; or whether it is better to limit the sources of employment, and with them the mass of the national population, in order to transport, by improved means of transit, the objects of consumption, cheaper, it is true, but taking away at the same time from many of our people the means of purchasing these objects even at their reduced price.

Seeing the emperor still unconvinced, Kouang added, "Sire, deign to give me your attention. I have still the Moniteur Industriel to bring under your notice."

But the emperor said, "I don't require your Chinese journals to enable me to find out that to create obstacles is to divert and misapply labor. But that is not my mission. Go and clear out the canal; and we shall reform the custom house afterwards."

And Kouang went away tearing his beard, and appealing to his God, "O Fo! Take pity on thy people; for we have now got an emperor of the English school, and I see clearly that in a short time we shall be in want of everything, for we shall no longer require to do anything."

Frédéric Bastiat was the great French proto-Austrolibertarian whose polemics and analytics run circles around every statist cliché. His primary desire as a writer was to reach people in the most practical way with the message of the moral and material urgency of freedom. See Frederic Bastiat's article archives.

You can subscribe to future articles by Frederic Bastiat via this RSS feed.

Copyright © 2012 by the Ludwig von Mises Institute. Permission to reprint in whole or in part is hereby granted, provided full credit is given.

How to be a Trendsetter in China

When the global macroeconomic economy continues to be depressed, what does one write or talk about?

Well, the Wall Street Journal writes about fashion, of course! Please read about "Camera-Ready Colors for Everyday Life From Zuczug" the cool label from China to understand the economic and financial implications.


Wang Yiyang is the designer behind the Zuczug brand. And he is in 73 stores in China and has mega global plans in the years ahead. Enjoy.


WSJ: article

The New Communists in China do a Meet and Greet

The new five year plan appears to be in place in China with Vice President Xi Jinping taking over from outgoing President Hu Jintao as the new communist party chief.

China: Continues to buy gold

Today’s AM fix was USD 1,735.75, EUR 1,365.44, and GBP 1,091.39 per ounce.

“Emerging-market economies from the G-20 countries are looking to elevate their gold holdings,” Ashish Bhatia, manager of government affairs at the producer-funded World Gold Council, said in an interview in Hong Kong yesterday. There’s “renewed interest from central banks on the demand side.”

Sears continues to buy China rather than American products

The story of the Bionic Wrench versus Craftsman, which bills itself as “America’s most trusted tool brand,” also raises questions about how much entrepreneurs and innovators, who rely on the country’s intellectual property laws, can protect themselves. For the little guy, court battles are inevitably time-consuming and costly, no matter the outcome.


read: full article

A Chinese Village Plays With Democracy

A small fishing village in southern China became a testing ground for an experiment in Chinese grass-roots democracy.

Read what happens: article

How to become a billionaire in China

Courtesy of the Think Billions blog:


How to become a billionaire in China

WSJ: Canada is starting to ask questions and say no to Chinese Oil Deals

Japan Trade Suffers with China

TOKYO — Japanese exports tumbled 10.3 percent in the year to September, data showed Monday, the sharpest decline since the aftermath of the 2011 earthquake and tsunami, and the Bank of Japan cut its outlook for the country’s regional economies amid a dispute with China and weak global demand.

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Foxconn underage worker scandal intensifies

Foxconn Technology Group, in breach of Chinese law, has admitted to hiring teenagers as young as 14.

Foxconn is the world's largest contract electronics maker and supplier of Apple Computer.

China experiencing flight capital

Economists call it "flight capital."

The Wall Street Journal (October 16, 2012) says "China ... is now watching cash stream out."

Where is it going? "Luxury goods in Singapore ... beachfront condos in Cyprus .... U.S. tuition bills...."

"A Wall Street Journal analysis of that data suggests that in the 12 months through September, about $225 billion flowed out of China ... "

WSJ: China's growth plunges and so does Aussie Dollar

Coal, iron-ore and a soaring economy can no longer support the Aussie Dollar on the foreign currency markets according to the Wall Street Journal (October 16, 2012).

Chinese billionaire rescues failed Massachusetts battery maker

Chinese billionaire rescues failed Massachusetts battery maker

Sales plunge as Chinese buyers avoid Japanese cars

Chinese auto buyers avoided buying Japanese car brands last month, plunging auto sales down as much as 41 percent as the political protests over the territorial dispute of the Diaoyu Islands continue to heat up.

China: A major perpetrator of cyber-espionage

"China is known to be the major perpetrator of cyber-espionage, and Huawei and ZTE failed to alleviate serious concerns throughout this important investigation. American businesses should use other vendors."
     --- committee chairman, Rep. Mike Rogers, R-Mich



Congressional Report:

"Huawei and ZTE cannot be trusted to be free of foreign state influence and thus pose a security threat to the United States and to our systems."

China backs away from the Euro poker table

From Reuters:

"China would be interested in buying into a Eurobond backed by core euro zone countries and considers investment in bonds issued by heavily indebted European countries unrealistic, a senior official with China's $480 billion sovereign wealth fund said. Jin Liqun, chairman of the supervisory board of the China Investment Corporation (CIC), said until fundamental problems of fiscal, social and monetary policies in euro zone countries burdened by debt are solved, there could be no investment."

China and The Traffic Jam Economy

The South China Morning Post reports, millions of Chinese commuters stuck in the longest traffic jam ever as a result of making toll roads free for the week to stimulate the weakened Chinese macroeconomic economy.

"A bid by authorities to stimulate the economy by suspending road tolls for the "golden week" holiday brought huge tailbacks across the mainland yesterday as almost 86 million travelers took to the roads. That's 13.3 per cent more than on the first day of the National Day holiday last year." 

"One traveller blogged that he could only move 200 metres in an hour on the Zhengzhou to Shijiazhuang expressway in Henan province. Others said the queue of cars on the Guangzhou to Shenzhen expressway was 40 kilometres long. All roads leading out of Guangdong were jammed, with cars moving at about a kilometre an hour in front of some toll gates. Provincial traffic-management authorities estimated traffic on expressways would increase by 40 to 80 per cent compared with the same period last year, the Shenzhen Special Zone Daily reported. The People's Daily reported dozens of accidents on 24 highways across the mainland, further aggravating the congestion."

Chinese yuan appreciates in the currency markets

The Chinese yuan climbed to a 19-year high this week on currency speculation in the FX markets.

The financial market bet is that China will step up and come to the aid of slumping domestic macroeconomic growth with a new stimulus program.

Wang Lijun, Bo's buddy, gets 15 years in prison

Cover-up goes wrong for Police Chief Wang

Former Chongqing police chief Wang Lijun, a protege of disgraced Politburo member Bo Xilai, was convicted of cover-up charges related to murder of a British businessman. Wang was sentenced to 15 years in prison from a recent trial that captured international media attention.

China Launches Cyberwar Against Japan

At least 19 Japanese websites, including those of a government ministry, courts and a hospital, have come under cyber attack, apparently from China, police said Wednesday.



Globe and Mail

China's Alibaba reduces Yahoo's ownership

China's Alibaba buys back half of Yahoo's stake

(Reuters) - China's Alibaba Group said it bought back half the stake Yahoo Inc owned in the company for about $7.6 billion, moving closer to an initial public offering.

China’s claim: ‘indisputable’

Water dispute: China’s claim over sea ‘indisputable’ 

 
The Philippines renamed the South China Sea to the West Philippine Sea.

China responded:

“The action of the Philippine side will not change the fact that China enjoys indisputable sovereignty over the islands in the South China Sea including Nansha Islands and Huangyan Island, and their adjacent waters.” --- Hong Lei, spokesman of China’s Ministry of Foreign Affairs

China: Stop Questioning Its Sovereignty Over South China Sea

“China has sovereignty over the islands in the South China Sea and their adjacent waters. There is plentiful historical and jurisprudential evidence for that.”  --- Foreign Minister Yang Jeichi 

Boom goes the dynamite in China

India and China will resume military exercises

India and China will resume military exercises, at the earliest possible date, after a gap of four years.


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BYD delivers mixed results for Warren Buffett

Chinese car and battery manufacturer BYD has not been Warren Buffett’s most successful investment, and another poor earnings report came out on Friday. The company announced that its net profit decreased almost 90% year over year to RMB27 million. The news sent shares down almost 3%, bringing the stock down almost 74% for the last five years.


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America Lost 2.7 Million Jobs to China in 10 Years

The Economic Policy Institute, a left-leaning economic think tank in Washington, D.C., estimates that America. lost 2.7 million jobs as a result of the U.S.-China trade deficit between 2001 and 2011, 2.1 million of them in manufacturing. Wages of American workers have also suffered due to the competition with cheap Chinese labor, EPI says. A typical two-earner household loses around $2,500 per year from this dynamic.

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Societe Generale: The China NPL issue gets worse

According to the China Banking Regulatory Commission (CBRC), total NPLs at China's commercial banks reached CNY 456.4bn at end-Q2, 4.2% qoq and up 11.9% (or CNY 48.6bn) from the trough in Q3 11. The NPL ratio was unchanged at 0.9%, due to a similar pace of loan growth. However, special-mention loans that are doubtful but still performing increased to CNY 1.5tn, while the total loan loss reserves set aside were CNY 1.3tn.

China’s manufacturing is contracting

China’s manufacturing may contract at a faster pace in August, a private survey showed, signaling more monetary and fiscal stimulus may be needed to secure a second-half rebound in economic growth.

The preliminary reading was 47.8 for a purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics, after July’s final 49.3 figure. If confirmed, it would be the weakest level since November and extend to 10 months the longest run of readings below the expansion-contraction dividing line of 50 in the index’s eight-year history.



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China New-Home Prices

China’s new-home prices rose in the largest number of cities in 14 months in July after interest- rate cuts and incentives for first-time buyers, complicating the government’s efforts to stimulate economic growth while curbing property speculation.


Bloomberg article

Japan arrests Chinese activists after landing on disputed isle

Japan to China: Get off my islands! 

`Kung Fu Panda 3' to be made in China

DreamWorks Animation Studios and various Chinese partners have announced that the next "Kung Fu Panda" movie will be developed in Shanghai.

Fresh South China Sea Tensions

China on its foreign ministry website:

“The US state department's so-called statement on the South China Sea issue disregards reality, confuses right and wrong, and sends a seriously wrong signal.”

China tells United States to "Shut Up"

(Reuters) - China's state-run media ramped up condemnation of the United States on Monday over tensions in the South China Sea, with the Communist Party's top newspaper telling Washington to "Shut up" and charging it with "fanning flames" of division in the region.

China with plans to get more ethical and confident

The Ministry of Commerce has started a one-year pilot program to promote a sound businessculture in 10 cities to help boost consumer confidence, officials said on Thursday.

"At present, a key impediment to domestic consumption growth is that businesses credibilityfalls beneath the public's expectations, and residents cannot buy goods at ease," Wen Zaixing,director of the ministry's department of market supervision, said at a news briefing.


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Chi Tong Kuok guilty of violating U.S. violate export laws

Chi Tong Kuok entered a plea Tuesday to conspiracy to violate U.S. export laws. Under the plea deal, he'll face no more than 46 months in prison.

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UNITED STATES v. CHI TONG KUOK

Used Lamborghinis in Hong Kong

Blue Light Special:  Used Lamborghinis in Hong Kong 




http://www.businessweek.com/news/2012-07-29/used-lamborghinis-linger-on-h-dot-k-dot-lots-amid-china-lull

China's National Job Fair

China’s job market for university graduates is showing signs of stress as the nation’s deepest economic slowdown since the global financial crisis coincides with a record 6.8 million students completing their studies.


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China's Exports Drop

China’s fabled export competitiveness is on the wane and that has implications for the rest of the world economy, conclude Morgan Stanley economists Spyros Andreopoulos and Sung Woen Kang.

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Government weighs social insurance reforms

To help Chinese businesses that have fallen on hard times, the government may letthem delay payments they are required to make into the country's social insurancefunds or pay reduced amounts, a senior official said.


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China's economy contracts, expands

The HSBC's China Flash Manufacturing PMI reported a ninth month of contraction; yet at the same time the Manufacturing Output index generated a nine-month high in reported macroeconomic data.

China makes billion dollar Canadian energy acqusition

Cnooc Ltd. (883) agreed to pay $15.1 billion in cash to acquire Canada’s Nexen Inc. (NXY) in the biggest overseas takeover by a Chinese company.


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China will not relax property control policies

BEIJING -- China will continue to maintain a firm grip of its real estate market and consolidate previous achievements in bringing down home prices so as to prevent them from rebounding, according to an urgent government notice released Thursday.

"Local authorities must strictly implement the nation's property control policies. They should not relax the control and relevant requirements unauthorized," according to the notice.

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Michael Dell remains bullish on the China market

ASPEN, Colorado (Reuters) - Dell Inc Chief Executive Officer Michael Dell said he remains upbeat about emerging markets such as China, its largest market outside the United States, despite "challenges" and a business slowdown.


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China's railroad macroeconomic model

China’s railway infrastructure investment may double in the second half of this year from the first six months, aiding efforts to reverse a slowdown in the world’s second-biggest economy.

Full-year spending will be 448.3 billion yuan ($70.3 billion), according to a statement dated July 6 on the website of the National Development and Reform Commission’s Anhui branch. The document indicates a 9 percent increase from a previous plan of 411.3 billion yuan. Spending was 148.7 billion yuan in the first half.

Bloomberg

Outrage at the Ralph Lauren Olympic Uniforms to China Event

Ralph Lauren issues statement

For more than 45 years Ralph Lauren has built a brand that embodies the best of American quality and design rooted in the rich heritage of our country. We are honored to continue our longstanding relationship with the United States Olympic Committee in the 2014 Olympic Games by serving as an Official Outfitter of the US Olympic and Paralympic teams. Ralph Lauren promises to lead the conversation within our industry and our government to address the issue to increase manufacturing in the United States. We have committed to producing the Opening and Closing Ceremony Team USA uniforms in the United States that will be worn for the 2014 Olympic Games.

Ralph Lauren Outsources Olympic Uniforms to China

China Macro Slowdown Continues

China, reports this week, that its 2nd quarter GDP grew at 7.6% compared to an 8.1% growth rate in the prior quarter.

This is starting to become a rather dramatic slowdown with all kinds of economic, social and political implications impacting the country on a real time basis.

FBI probes Chinese telecom giant ZTE

FBI probes the Chinese telecom group ZTE over trade deals where they allegedly sold U.S. technology to Iran.

China continues to be bullish on gold

From Bloomberg:

In May, imports by China from Hong Kong jumped sixfold to 75,635.7 kilograms (75.6 metric tons) from a year earlier, Hong Kong government data showed. The nation “remains the most important player on the global gold market,” Commerzbank AG said in a report. The dollar fell from a five-week high against a basket of currencies, boosting the appeal of the metal as an alternative investment. “Higher physical demand in China is good news for the market,” Sterling Smith, a commodity analyst at Citigroup Inc.’s institutional client group in Chicago, said in a telephone interview. “The mildly weak dollar is also positive.” The World Gold Council has forecast that China will top India this year as the world’s largest consumer because rising incomes will bolster demand.

The Obama trade war with China

President Obama tells unionized voters in Ohio about "unfair" Chinese trade duties. The same election script, it seems, that was read four years ago.

China HSBC PMI Hits 7-Month Low

The HSBC Purchasing Managers' Index (PMI) fell to 48.2 after seasonal adjustments, its lowest since November 2011. The final reading in May was 48.4.

A Crushed Tianjin Airlines Hijacking Attempt

Chinese astronauts return to Earth

China's astronauts emerged smiling from a capsule that returned them safely to Earth on Friday from a 13-day mission.

China's first female astronaut and two other crew members recorded the country's most complex and longest mission in orbit in a quest to build a space station by the year 2020.

China, bidding for Chesapeake Energy assets?

From the Financial Times:

Sinopec, the Chinese oil and gas group, is considering bidding for billions of dollars worth of assets owned by Chesapeake Energy, the US gas producer.
Fu Chengyu, head of Sinopec, was in Oklahoma in the US this week in connection with the company’s due diligence on the Chesapeake assets, according to people familiar with the move.
By buying assets rather than making a bid for the company itself Sinopec hopes to minimise the sort of political backlash that forced Cnooc to drop its $18.5bn bid for Unocal in 2005, bankers and oil executives say. Chesapeake Energy has been hit hard by low natural gas prices in the US and is in the midst of an asset disposal programme to help reduce its debt; while its shares have fallen 25 per cent from their March peak.
Mr Fu’s vision is to shift Sinopec’s focus to upstream oil and gas production, where margins are higher. “The Achilles heel of Sinopec is the lack of oil and gas reserve growth upstream while being too dependent on downstream refining,” says analyst Gordon Kwan of Mirae Asset Securities. “Among the three national oil companies, Sinopec’s balance sheet is the weakest,” he adds.

China to Friend the IMF by $43 billion

(Reuters) -  China on Monday offered $43 billion to the IMF's crisis-fighting reserves, joining other major emerging markets in pledging new funds to shore up the global financial system while demanding reforms to give the developing world more clout at the IMF.

The real estate correction continues in China

China’s home values fell in a record 54 of 70 cities tracked by the government in May as developers cut prices to boost sales amid housing curbs.


Bloomberg article

China's economic growth is slowing

(Reuters) - China's annual economic growth could fall below 7 percent in the second quarter if weak activity persists in June, an influential government adviser was quoted on Wednesday as saying.


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China surprises with an interest rate cut

The People's Bank of China (the central bank in China) cut the official one-year borrowing rate by 25 basis points to 6.31 percent and the one-year deposit rate to 3.25 percent.

Concern about slowing growth in China and other global macroeconomic events promoted the surprise announcement. This was the first cut since 2008.

China, Greece and the Euro

China Can ‘Cope’ If Greece Exits Euro, NDRC Researcher Says

Bloomberg article

Cash for clunkers program in China

May 28 (Reuters) - The government of China will soon resume paying subsidies to rural residents who trade in old vehicles for new, fuel efficient ones in an effort to rekindle demand amid a slowdown in the world's largest auto market, a government official told Reuters on Monday.

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Mark Zuckerberg of Facebook unknowingly appears in a CCTV documentary

Mark Zuckerberg of Facebook unknowingly appears in a CCTV documentary while in Shanghai earlier this year.

article>>> Billionaire Facebook Couple in Chinese Documentary

China Banks May Miss Loan Target for 2012

China’s biggest banks may fall short of loan targets for the first time in at least seven years as an economic slowdown crimps demand for credit, three bank officials with knowledge of the matter said.

Bloomberg 

The books are cooked in China

Junheng Li, senior equity analyst of JL Warren Capital in New York, says that China Is a Black Box of Misinformation.



Bloomberg article: China Is a Black Box of Misinformation 

China Goes Hollywood with AMC Corporate Takeover

Chinese conglomerate Dalian Wanda Group agreed to buy AMC Entertainment for $2.6 billion, making it the biggest cinema chain operator in the United States.

The strategic takeover marks China's largest buyout to date in the USA, emphasizing highlights the rising financial strength of its top firms.

The Anonymous movement connects with China

"Dear Chinese government, you are not infallible, today websites are hacked, tomorrow it will be your vile regime that will fall. So expect us because we do not forgive, never. What you are doing today to your Great People, tomorrow will be inflicted to you. With no mercy,"