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The Treasury had concluded that China was buying much more in U.S. government debt than was being disclosed, potentially in violation of auction rules. The incident calls into question just how clear a handle the Treasury has had on who is buying U.S. debt…
China's vast Treasury holdings are both a lifeline and a vulnerability for Washington - if the Chinese sold their Treasuries all at once, it could undermine U.S. markets and the economy by driving interest rates higher very quickly. Scenarios of this sort have been discussed in Washington defense-policy circles for at least a year now. Not knowing the full extent of these holdings would make it even more difficult to assess China's political leverage over U.S. finances.
A 10 year employee of CME Group in Chicago is alleged to have stolen trade secrets and proprietary source code used to run trading systems for the Chicago Mercantile Exchange, according to a criminal complaint filed in U.S. District Court in Illinois.
Two vulnerabilities found in industrial control system software made in China but used worldwide could be remotely exploited by attackers, according to a warning issued on Thursday by the U.S. Industrial Control Systems Cyber Emergency Response Team (ICS-CERT).
One subject of the third round of the U.S.–China Strategic and Economic Dialogue will be cybersecurity. Part of Secretary of Defense Robert Gates’s proposed Strategic Security Dialogue, it reflects the growing prominence of cybersecurity in Sino-American strategic relations.
The concerns include computer network exploitation and computer network attacks, but also tampering with the physical infrastructure of communications and computer networks. Vulnerabilities could be introduced in the course of manufacturing equipment or created through purchase of malignant or counterfeit goods. Recent experience highlights these problems.
That Goldman could be so abruptly chucked out of such a high-profile deal for reasons that remain unclear hints at the perils faced by Western investment bankers as they jostle for position in the world's fastest-growing economy. When Paulson began making regular forays to China in the early 1990s, China's Communist leaders were struggling to fathom global capital markets. Liu Erhfei, who accompanied Paulson on some of those meetings as a junior Goldman banker (and who now leads the Merrill Lynch team that trumped Goldman on the ICBC deal), recalls Chinese officials' difficulty in grasping what, exactly, investment bankers do: 'The response was, 'You're a banker, but you don't take deposits and you can't give me a loan? Why am I talking to you?' '
China's successful courting of South Africa to become the newest BRIC (subsequently BRICS) member has potentially intensified the Asian giant's growing influence on the African continent. South Africa, however, has yet to clearly define where its allegiances will ultimately lie within the group.
AFP) – Two key US senators accused China of hampering a congressional probe into how counterfeit electronics ended up in the US military supply chain by denying entry visas to investigators
Originally posted by kro32
Don't let what happen?
Apparantly according to your post it's already been done hasn't it. What would you suggest we do?
Originally posted by kro32
Don't let what happen?
General Motors (GM) announced Tuesday that its auto sales in China exceeded 2.35 million units in 2010, marking a new record for the Detroit-based automaker.
By December 31, 2010, GM sold a total of 2,351,610 vehicles in China, a 28.8-percent increase from 2009. Last year, GM launched 11 new models or upgraded models in China.
Chevrolet sales reached 544,000 units in 2010, surging 63.4 percent compared to 2009. Sales of Buick and Cadillac rose 23 percent and 139 percent, respectively, to 550,000 and 17,000 units last year.
SAIC-GM-Wuling Automobile Co., GM's joint venture with SAIC Motor and Wuling Automobile Co., sold 1,149,000 Wuling brand vehicles in 2010, up 14.8 percent year-to-year.
Originally posted by Partygirl
reply to post by SLAYER69
It doesn't matter to me if the Chinese buy McDonalds and some GMs. These may be American companies, but their shares can be bought and sold around the world. In fact, I'm sure a substantial portion of these companies's stocks are already Chinese-owned. And when a company builds cars in China and sells them to China, does it matter if they once had an Amercian history?
Anyway, the real serious stuff as far as I am concerned is not trade imbalances but the use of economic muscle to influence policy -- both domestic and international.
Originally posted by SLAYER69
The point I was making is that American companies have turned their backs on the American worker who helped build up their business in the first place. They didn't even try to Manufacture cars here to export to Chine which would have kept Americans employed and created Badly needed tax revenue which would have helped the Government offset all the Debt spending you reference. Not to mention the mass exodus of business capital pouring into China from the US as our unemployment lines grow.
Do you have any idea how many US companies have invested heavily in China or know how many US owned companies have opened shop in China? The list is pretty darn long Wal-Mart, McDonald's, Starbucks, Ford, General Motors, Boeing, Burger King, Pizza hut, GE, Coca Cola etc etc etc. All lost American jobs.
I'd be more concerned with the likes of Bill Clinton whose administration turned a blind eye when the Chinese were caught red handed back in the 90s stealing our missile technology. Right after that their floundering space program took off. Within a few short years later they orbited a man. Focus on our Government. Which is fine, I'm just saying many people have company and brand name loyalties.
Originally posted by hawkiye
reply to post by Partygirl
They have only won the first phase of thier plan. They desire to physically take control of the US and its land and kill 2/3rds of us. this is thier long term goal I started a thread here on it and it relates to this thread www.abovetopsecret.com...
Originally posted by Partygirl
Originally posted by hawkiye
reply to post by Partygirl
They have only won the first phase of thier plan. They desire to physically take control of the US and its land and kill 2/3rds of us. this is thier long term goal I started a thread here on it and it relates to this thread www.abovetopsecret.com...
I saw your thread shortly after I posted this thrad and felt a little stupid for putting up another China thread, but I'd been working on this for awhile, so chalk it up to coincidence. Great minds think alike...
I am not sure it will be as extreme as you post because people would fight back if it wastruly in-your-face. But if they can make it economic and not a shooting war, they have the upper hand because they have patience and long-term planning and the US has neither.
Originally posted by Britguy
Blaming others for your misfortune seems to br the American way. Hey, with so many Israeli-firsters and dual-nationals in high office, maybe the "victim" card is worth a try?
It wasn't Chinese corporations that outsourced most of their manufacting jobs and, more recently, a lot of R&D too to foreign shores in the name of ever more profit to serve the get-rich-quick greed of the CEO's and Wall Street.
It wasn't the Chinese who have further bankrupted themselves by maintaining miltary bases all around the world and trying to influence others or steal resources through war.
See, the almighty dollar and those who crave it are the ones who have destroyed things back home and allowed the Chinese economy to grow so massively. You can't blame others for benefitting from the greed and shortsightedness of your own corporate and banking heads. Instead of looking to pass the blame, look inwardly at the ones who have destroyed the country and economy from within, and I bet you won't find many Chinese amongst them (if any!).