Is Australia capable of defending itself if China takes Taiwan or will they need assistance like Ukraine?
Taiwan’s Director of Chinese Affairs Dr Lai Chung has warned Australia could be China’s “next target” if Beijing successfully invades and takes over Taiwan.
Four years ago, the Australian government was heavily dependent on the U.S., but things might have changed since then.
Former Defence Department official Professor Hugh White says Australia must ‘significantly ramp up’ its defence spending, as America may not be able to ‘preserve its leadership in Asia’ in the face of China’s growing influence.
Perhaps they should surrender their territory to China and comply with all their demands
Let’s see if U.S can defend itself first !!
We are not as strong;
Weak Cyber Security
Microchips are built in tiny island called Taiwan
Producing Daily needed supplies
Medical equipment and medications
Keep borrowing money from China and printing more $$$ and increasing National Debt
and the list goes on and on …
Isn’t Australian media ( outside of Fox) controlled by China?
You can argue that the US has been without a functional president for 6 1/2 years, and it is still afloat if you call 33 trillion in debt floating
You just called CNN fake news, I had to laugh at that
Hi Ha-Lion
I have not seen you here before, welcome to the thread and feel free to join in the conversation, Some of us may bark a lot but non of us bite
Take care
Welcome aboard… Exactly, which is why a strong and effective US Government is critical for the support of a defiant Taiwan and a resource rich Australia…
My concern is for Taiwan… There is nothing better than a military engagement to take a Nations eyes off a declining economy and struggling and desperate Leader…
C…H…I…N…A…
The Australian mediascape is generally Left leaning like in the United States… We really only have Sky News Australia that plays the Centre / Centre Right of the field…
How it works here… The Australian Government and Media don’t really like China or many of their policies… Australia’s Commodity based economy relies heavily on exports to China of Iron Ore, Coal, Livestock, Produce etc… So any bad press out of Australia generally results with import embargo’s…
No doubt Australia’s Government media liaison would be continually asking the media to go easy on any negativity toward China’s CCCP…
I have a sore neck from continually shaking my head in disbelief at some of the posters who crawl out of the woodwork only to destroy already waning credibility with their constant nonsense…
That was reported in the CNN link
China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.
Evergrande filed for Chapter 15 bankruptcy protection, which allows a US bankruptcy court to step in when an insolvency case involves another country. Chapter 15 bankruptcy is intended to help promote cooperation between US courts, debtors, and other countries’ courts involved in cross-border bankruptcy proceedings.
Evergrande did not immediately respond to CNN’s request for comment.
https://edition.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.html
It’s similar to clickbait except they use headlines in large type.
There are many ppl who only see these headlines.
The question that springs to mind is which creditors are most affected by this filing, and obviously will Evergrande succeed in restructuring - they have many sites unfinished, these only realize their true value on completion.
Too big to fall? - they said the same about an extremely large US corporation (I was one of those fools) then on Sep 15 2008 they filed for chap 11 protection - with well over $600bn of assets. - after over 150 years of trading to boot.
Edit:
One other thing to consider - will the Xi Govt react in the same as the Bush admin did in 2008 - that admin took the decision to let the market look after itself - “In the long run, I am confident that our capital markets are flexible and resilient and can deal with these adjustments.”
“We’re working to reduce disruptions and minimize the impact of these financial market developments on the broader economy,”
Was he correct - were the consequences of allowing Lehmans to fall minimized?
Depends on perspective I suppose - markets did eventually regain their poise after a couple of years.
A bit of clickbait, but in fairness to the headline, Chapter 15 bankruptcy protection is one form of bankruptcy. it could be considered bankruptcy in it self based on the definition below.
Chapter 15 bankruptcy allows a foreign debtor to file for bankruptcy in the United States.
Yeah, often filing under chpt 15 leads ultimately to bankruptcy - right now US creditors cannot tie up any Evergrande’s US assets.
The similarities to 08 in the US are striking - Evergrande has been in liquidity difficulties for over a year and still not sorted - now in China property woes are affecting the financial sector (just like 08).
Xi this week sounded like Bush in 08 - "We should be patient [with a historical perspective] and move forward in a steadfast manner.” He further talks about ‘long-term mission’
(source south china morning post)
One member of the Chinese MPC - Cai Fang - called for a stimulus package in China, including giving ppl money for free but the party via Study Times have said in the past days - no way.
Here in the US, maybe the Government and Media have not totally bent over for China, there are sections of our economy that have cowed down to China, the two big ones are the film industry, and in sports, the NBA will and have fined players and owners for saying anything negative about China. The film industry will alter scripts, ending scenes, and marketing material to China’s liking
Can you spot what change China demanded on this Star Wars poster
And they acquiesced.
Money talks
But it don’t sing and dance and it don’t walk
In America, the problem is much bigger.
Most of the United States still heavily relies on Chinese imports, including Walmart. Only roughly 20% of Walmart’s retail products are from US-based suppliers. According to estimates, 70 to 80% of Walmart products are from China, excluding food, meat, and fresh produce.
<Chinese Walmart Products? Here's What You Should Know -
Department of Commerce study that found that 97 percent of all antibiotics in the United States came from China. “If you’re the Chinese and you want to really just destroy us, just stop sending us antibiotics,” he said.
<U.S. Dependence on Pharmaceutical Products From China | Council on Foreign Relations
A majority of the ingredients used to make the drugs commonly taken by Americans come from China.
In America, the problem is much bigger.
(See Below) The Fear & Greed Index has nearly halved (45) from 30 days ago (83)…
The Cboe Volatility Index, or VIX, remains below its long-term average of 19, yet has been slowly climbing up over the past 2 weeks…
Something might be brewing…
I really don’t want to sound disappointing and gloomy … But I am afraid, our beautiful country is on downhill and speeding as fast that we haven’t seen in our history …
I wish I could sound more optimistic …
Bud sadly, we became more corrupted and morality is down so much and we became such senseless people that unfortunately, ONLY a huge tragedy, will bring us back together …
Again, this is my opinion and I respect anyone who disagrees with me. But I will bet that 2024 will kickstart a huge economic disaster followed by a new war that will devastate our economy further …
National debt that we keep adding to it and borrowing from Chinees, will absolutely set us on the path to default. We can’t just borrow more and more and expect nothing happens. In my opinion, default is not a bad thing if it happens sooner than later …
starting fresh with a responsible GOV is the right path to rebounce back to economic glory. But, hey, who am I to be heard …
The U.S. economy is heavily dependent on CHINA.
The fact that China has become the largest foreign holder of U.S. government securities is taken as indicating that the United States is heavily dependent on China to finance its budget deficits. Similarly, since China is a major source for U.S. imports, U.S. consumers are seen as dependent on cheap Chinese goods.
“While we surely have concerns that need to be addressed, decoupling would be a big mistake,” Yellen said in her testimony before the House Financial Services Committee on Tuesday. Americans “benefit greatly” from buying goods that are cheaper to produce in China, she added. China equally benefits from US exports that also bolster the US economy.
That’s why, she stressed, it would be “disastrous” to cease trading with China. “De-risk? Yes. Decouple? Absolutely not,” Yellen said, echoing the joint statement leaders from the Group of Seven (G7) made at last month’s summit in Japan.
https://www.cnn.com/2023/06/12/business/yellen-treasury-testimony/index.html
Not just the US - China is the world’s second largest economy and has become so in a very short period.
How has it achieved this ranking? - simple - they play by Chinese rules.
Some years back a UK entrepreneur had a successful retail outlet in one of the then new shopping malls in China - then one morning he was given notice to quit - no reason offered.
The new tenant opted to sell similar products - he was Chinese.
Edit: - on a different note check the close on HK 3333 Friday. - what’s up doc ?
Politicians in America never had a plan to make America great, they talk a lot and do nothing
Just for guys interested in the long standing Evergrande saga - they have NOT filed for bankruptcy.
In the filing for chpt 15 protection the following note is attached:
While the step is seen as procedural, it indicates that the company is nearing the end of its restructuring process after more than one and a half years of negotiations with creditors.
Evergrande said in a filing on Friday that it will ask the US court for recognition of schemes of arrangement under the offshore debt restructuring for Hong Kong and the British Virgin Islands as its dollar notes are governed by New York law.
"The application is a normal procedure for the offshore debt restructuring and does not involve (a) bankruptcy petition," it said in the filing, adding it is pushing forward with its offshore debt restructuring.
The company proposed scheduling a Chapter 15 recognition hearing for Sept. 20.
Credit: Reuters & Zeebiz
