Chinese Communist Party Megathread - Cold War 2: Electric Boogaloo

This is interesting:
hongkongfp.com

Exclusive: Wikipedia bans 7 mainland Chinese power users over 'infiltration and exploitation' in unprecedented clampdown - Hong Kong Free Press HKFP

The foundation that oversees Wikipedia has taken unprecedented action to ban seven mainland Chinese users from its websites globally and revoke administrator access and other privileges for 12 other users, following an HKFP report of alleged threats to Hong Kong users. HKFP revealed in July that...
hongkongfp.com hongkongfp.com

The Mainlanders are manipulating facts over at Wikipedia. Thankfully, they just got banned.
 
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Simple question. Would that happen under Xi? There's certainly a lot to admire with his intolerance of conglomerates and big business and he's based approach the Islam problem. I give credit where credit is due tbh

www.dailymail.co.uk

Refugee accused of raping and killing a girl sneaked into UK

Rasuili Zubaidullah, 22, sparked fears over border security after it emerged yesterday he had crossed the Channel in a boat of refugees and claimed asylum using a fake name.
www.dailymail.co.uk www.dailymail.co.uk
 
Ghost88 said:
Simple question. Would that happen under Xi? There's certainly a lot to admire with his intolerance of conglomerates and big business and he's based approach the Islam problem. I give credit where credit is due tbh

www.dailymail.co.uk

Refugee accused of raping and killing a girl sneaked into UK

Rasuili Zubaidullah, 22, sparked fears over border security after it emerged yesterday he had crossed the Channel in a boat of refugees and claimed asylum using a fake name.
www.dailymail.co.uk www.dailymail.co.uk
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That’s how they get /pol/ and A and H to join their 50 cent army: show how they tell big elites to pound sand and go after suspected terrorists and turn away anyone at their border as they move to make their country a prime example of a homogenous ethnostate.

It’s incredibly shockingly simple. And if Xi isn’t in charge, someone else will because the dude is stacking the deck with his supporters in the party….or someone else will continue their approaches to everything as they were with the only question being if they’ll continue to not give a damn about making enemies.
 
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Chinese President Xi Jinping is leading his common prosperity campaign to redistribute wealth with austerity. In recent weeks, his govt has cracked down on several celebrities for various reasons, including tax-dodging. But the President’s own family’s past is shrouded in corrupt deals and accused of amassing massive personal wealth. The Chinese Communist Party(CCP) has a strict image of being intolerant towards corruption. But experts believe that the party itself is riddled with corrupt officials in senior positions.
 
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Lester Jones said:
Chinese President Xi Jinping is leading his common prosperity campaign to redistribute wealth with austerity. In recent weeks, his govt has cracked down on several celebrities for various reasons, including tax-dodging. But the President’s own family’s past is shrouded in corrupt deals and accused of amassing massive personal wealth. The Chinese Communist Party(CCP) has a strict image of being intolerant towards corruption. But experts believe that the party itself is riddled with corrupt officials in senior positions.
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Xi the pooh had learned his lesson about "rules for the thee but not for me".

Meanwhile, the CCP try to find a way to keep Evergrande floating, well what's remains of it.

China's "Lehman Moment" Arrives On 13th Anniversary Of Lehman Bankruptcy: Beijing Tells Banks Evergrande Won't Pay Interest | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
Yesterday, when covering the non-stop drama surrounding China's most insolvent property developer, Evergrande, we said that it would be remarkably ironic if Evergrande were to announce a default - which everyone knows is coming - today, on the 13th anniversary of Lehman's bankruptcy filing on Sept 15, 2008.

Well, in this delightfully absurd world we live in, that's just what happened only instead of Evergrande making the announcement, it was the entity that will soon control the massively overlevered property developer that made it for them: the Chinese government.

According to Bloomberg, Chinese authorities told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, which takes the cash-strapped developer a step closer the nation’s largest modern-day restructurings, and guarantees that China's "Lehman Moment" is now just a matter of days, if not hours.

According to Bloomberg, citing unnamed sources, the Ministry of Housing and Urban-Rural Development told banks in a meeting this week that Evergrande won’t be able to pay its debt obligations due on Sept. 20, and instead most of Evergrande’s working capital in now being used to resume construction on existing projects, the housing ministry told bankers, according to a Bloomberg source.

And since nonpayment of interest and principal will represent an event of default, the company is unlikely to make any subsequent interest, or principal, payments either since it will have already default even though Bloomberg claims that "Evergrande is still discussing the possibility of getting extensions and rolling over some loans." It won't, especially since the developer will also miss a principal payment on at least one loan next week, which means it's game over.

Meanwhile, as reported previously, Chinese authorities are already laying the groundwork for a debt restructuring of the $300 billion company (which recently hired Houlhan Lokey to advise it during the upcoming historic bankruptcy), assembling accounting and legal experts to examine the finances of the group. With senior leaders in Beijing silent on whether they will allow Evergrande creditors to suffer major losses, bondholders have priced in slim odds of a rescue infuriating countless investors and creditors who have mobbed the company's offices across the country and also gathered at its HQ, demanding the company "return their money." It won't happen.
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The protests at Evergrande headquarters had reach a new level. https://www.zerohedge.com/markets/e...hfork-hold-management-hostage-company-offices

As the collapse of Evergrande reverberates throughout the Chinese economy, pissed off retail investors have gone from storming the company's headquarters to taking management hostage, according to the Straits Times, citing posts 'making the rounds' on social media.

What we know so far: over 70,000 retail investors forked over vast sums of money, in some cases their entire life savings, after the country's second largest, 'too big to fail' property developer wooed them with promises of 10%+ annual returns. And while the company most likely is TBTF (as you can read in gory detail here, although Beijing has yet to make an official proclamation), these anxious retail investors may be in more of an "Alive" situation than a Sully Sullenberger landing when it comes to resolving this mess.

After accumulating some 1.97 trillion yuan (US$410 billion) in liabilities, the company - which became the country's largest high-yield dollar bond issuer (16% of all outstanding notes) - sparked protests across the country earlier this week after announcing they were forced to delay payments on up to 40 billion yuan in wealth management products.

As we noted earlier Thursday, in an effort to appease its angry (and very soon, poor) stakeholders, Evergrande plans to let consumers and staff bid on discounted apartments this month as compensation for billions in overdue investment products as the embattled developer seeks to preserve cash, according to people familiar with the matter.

According to Bloomberg, the company will organize an online property event by Sept. 30 for investors who opt for real estate in lieu of cash. The world’s most-indebted property developer is pushing the discounted real estate as the preferred of three options for angry investors seeking repayments.

The plan, it would appear, did not go off quite as planned: in response, nearly 100 investors stormed Evergrande's headquarters to demand their money back.
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Super-Chevy454 said:
I saw this vlog posted in early september about China freeways. Some gaps of their freeways are built like their buildings.
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I'm honestly wary of that channel because of its shoddy looking thumbnails and its profile pic that looks it was just created from Microsoft PowerPoint. In your opinion, how much of their news is credible or deceitful?
 
Lester Jones said:
I'm honestly wary of that channel because of its shoddy looking thumbnails and its profile pic that looks it was just created from Microsoft PowerPoint. In your opinion, how much of their news is credible or deceitful?
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I wish I knew and to think then the sad thing is the official Chinese media isn't as credible as well...*sighs*...
 
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98F9BC19-C4C7-48ED-B2B4-C83183FE0061.jpeg


40EF159D-B744-4A49-956E-2B175145A4CF.jpeg
 
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The CCP pumped 14 billion dollars into Evergrande.
www.aljazeera.com

China pumps $14bn in cash into market amid Evergrande crisis

The People’s Bank of China added 90 billion yuan of funds on a net basis as the Evergrande debt crisis intensifies.
www.aljazeera.com www.aljazeera.com

Despite the recent pump, Evergrande's shares plummets to an 11-year low.
www.reuters.com

China Evergrande contagion concerns rile global markets

Growing fears of China Evergrande defaulting rattled global markets on Monday as investors worried about the potential impact on the wider economy dumped Chinese property stocks and sought refuge in safe-haven assets.
www.reuters.com www.reuters.com

Evergrande on the brink of default!
 
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Lester Jones said:
The CCP pumped 14 billion dollars into Evergrande.
www.aljazeera.com

China pumps $14bn in cash into market amid Evergrande crisis

The People’s Bank of China added 90 billion yuan of funds on a net basis as the Evergrande debt crisis intensifies.
www.aljazeera.com www.aljazeera.com

Despite the recent pump, Evergrande's shares plummets to an 11-year low.
www.reuters.com

China Evergrande contagion concerns rile global markets

Growing fears of China Evergrande defaulting rattled global markets on Monday as investors worried about the potential impact on the wider economy dumped Chinese property stocks and sought refuge in safe-haven assets.
www.reuters.com www.reuters.com

Evergrande on the brink of default!
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Looks like we might get a big tsunami after all, not the one from La Palma but an economic tsunami courtesy from Evergrande.
 
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The Chinese Communist Cult is STRONG in this one.
Oh shit! His husband is white! AznIdentity at suicide watch!
 
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