David Roche on China Covid outbreak hitting progress, markets

Medical staff are working on the sixth round of the Covid-19 test since the end of July in Nanjing, east China’s Jiangsu Province, on Sunday, August 8, 2021.

Feature China | Barcroft Media | Getty Images

China has tightened Covid-19 measures to combat a surge in daily cases – a move that could curb the country’s economic growth and hurt its stock markets, veteran strategist David Roche said.

Investor sentiment towards Chinese stocks was boosted by Beijing’s regulatory crackdown on sectors such as technology and Tutoring after school.

“The markets have gotten into the mindset that Covid is very … bad, but the economic recovery is picking up locks, removing social restrictions – this is something of the world recipe right now,” said Roche, President and Global Strategist, Independent Strategy. said CNBCs “Road signs Asia” on Tuesday.

“Well, it is not the world recipe in China for good reasons, and so markets have to accept that it has an economic cost not just within China but globally,” he added.

I think China is about to end its great recovery story from Covid …

David Roche

President and Global Strategist, Independent Strategy

The country’s National Health Commission reported 143 new Covid cases in mainland China on Monday – the highest number of daily infections since January, according to Reuters. Attributed to Chinese State Media the recent resurgence of infections on the highly transmissible Delta variant.

Chinese authorities ruled last week Mass tests in Wuhan city – where the coronavirus was first discovered – and imposed widespread restrictions on movement in major cities, including Beijing.

Some economists have raised concerns about China’s “zero tolerance” approach to Covid, which refers to the country’s aggressive crackdown on relapses in Covid cases. The approach, which includes rigorous lockdowns and mass testing, helped China keep previous outbreaks under control before the recent resurgence.

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But the Delta variant is more contagious and could be more difficult to contain – and that could hurt China’s economic recovery, economists warn.

“If lockdowns and vaccination advances do not allow local economies to reopen by mid-August or early September, we will have to rethink our GDP forecast of 8.8% for 2021,” wrote economists at Australian bank ANZ in a report on Tuesday.

China effect on the world economy

Any disruption in the Chinese economy could affect global economic growth, Roche said.

The strategist stated that wider lockdowns across China could disrupt global supply chains – many of which are in the country.

This could affect international trade, increase the cost of some goods, and raise inflation expectations around the world, he added.

Roche expects China’s year-over-year growth to slow to 2 to 3% in the third quarter 7.9% expansion in the second quarter.

In the longer term, China’s economic growth will level off at around 5 to 6%, according to Roche.

“I think China is about to end its great recovery story from Covid, which of course is ahead of the world … and is now converging on a long-term growth path that is much, much lower than what people are used to after China,” said he.

China orders Wuhan mass testing, Beijing restrictions as Covid delta spreads

Residents of the city of Wuhan in the Chinese province of Hubei are due to take nucleic acid tests for Covid-19 on August 3, 2021.

STR | AFP | Getty Images

China is facing a resurgence in major cities of Beijing to Wuhan, and authorities have mass tests and widespread travel restrictions in some areas.

Daily Covid-19 cases are on the rise again as the Delta variant spreads across the country.

China’s National Health Commission said it confirmed 96 Covid cases on Wednesday – 90 cases and more were reported for the third day in a row. Of the newly confirmed cases, 71 were transmitted locally, said the health commission.

Economists fear that strict government crackdown on movements could harm the economy – the only major economy that grew last year.

“China has already shown that it is ready to take tough measures to control Covid, and we have no doubt it will do so this time too,” said Robert Carnell, regional director of Asia-Pacific research at Dutch bank ING , in a note on Wednesday.

“The strict restrictions on movement and travel that already exist will likely produce the desired results. But the Delta variant is a particularly slippery little creature, and the concern for us and many others is how quickly this will happen and at” what the economy has cost in the meantime, “he added.

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When Covid-19 first surfaced in the country in late 2019, authorities put in place strict lockdowns and mass testing to control the nationwide outbreak.

Since then, the Chinese authorities have cracked down on all flare-ups of Covid infections. The recent proliferation of the more highly transmissible Covid Delta variant has once again prompted authorities to tighten containment measures across the country.

The state media agency Xinhua reported authorities have urged people to restrict travel and avoid gatherings, and to suspend some flights, trains and long-distance bus services.

The capital Beijing imposed strict entry and exit controls on Sunday and is said to be in a “critical stage” of epidemic control after cases rose for the first time in months in late July, Xinhua reported.

The city of Wuhan, where the corona virus first appeared, will test all of its residents for new Covid cases, the news agency said.

As of July 20, Wuhan had administered more than 17 million doses of Covid vaccines, and the vaccination rate for those 18-year-olds and above was 77.63%, according to the Wuhan City Health Commission.

“Slow patch” in China’s economy

China’s economic recovery has been mixed, with export-oriented sectors accounting for most of the growth, while domestic consumption has recovered more slowly.

The resurgence of Covid-19 infections and recent containment measures would delay a recovery in Chinese budget spending, said Sian Fenner, chief Asian economist at consultancy Oxford Economics.

“The geographic spread of the Delta variant is going to be a concern for the Chinese authorities. We have already seen that they have very little tolerance for, you know, even a relatively small flare-up,” she told CNBC “Squawk Box Asia” On Wednesday.

“We were hoping that this would actually improve service consumption through the increase in vaccination rates, but it looks like we’ll see a different kind of slow patch in the future and … the delayed recovery in household spending,” she added.

Fenner said she is sticking to her full-year growth forecast of 8.4% for China for now. That is slightly more than the International Monetary Fund’s forecast 8.1% growth in China.

– CNBC’s Weizhen Tan contributed to this report.

Transport disaster strikes Black Friday procuring amid Europe, China floods

TOPSHOT – The aerial photo shows an area in the Blessem district of Erftstadt on July 16, 2021, which was completely destroyed by the flooding.

SEBASTIEN BOZON | AFP | Getty Images

The 2021 Christmas shopping season could be marred by out of stock goods and shipping delays as the recent floods in Europe and China tighten already tight global supply chains.

Western Europe and the Chinese province of Henan – a major transport hub and headquarters of several large companies – are grappling with the aftermath of devastating floods.

The disasters damaged railways in both regions, which are used to deliver goods and raw materials. Water entered industrial areas and damaged facilities, machinery and warehouses, supply chain industry companies told CNBC.

“Black Friday and the holiday season for which products (and raw materials) are staged will have the brunt of the impact,” Pawan Joshi, executive vice president of supply chain software company E2open, told CNBC in an email.

“Consumer electronics, dorm furniture, clothing and appliances will all continue to be in short supply as shopping starts early in school and enters the main Christmas shopping season,” he said.

Delays in the distribution of raw materials needed to manufacture goods will have a cascading effect and disrupt supply chains “for weeks and months,” Joshi said.

The flood has the potential to take another blow to the auto industry, which is already suffering from a semiconductor shortage.

Pawan Joshi

Executive Vice President, supply chain software company E2open

Several companies including Germany’s largest steel manufacturer Thyssenkrupp, have declared force majeure. A force majeure event occurs when unforeseeable circumstances, such as natural disasters, prevent a party from fulfilling its contractual obligations and release it from sanctions.

Some of the industries hardest hit by the floods include automobiles, technology and electronics, according to those CNBC spoke to.

Car production started again after lack of chips

Auto production is likely to be affected by production delays as many of the world’s largest automakers and their suppliers are based in the flood-ravaged regions.

“The flood has the potential to take another blow to the auto industry, which is already suffering from a semiconductor shortage,” said Pawan.

Production facilities in Germany, the Netherlands, Luxembourg and Belgium are expected to bear the brunt of the flood damage, supply chain risk management company Everstream told CNBC via email. Many suppliers that provide specialty parts for the automotive, technology and aerospace industries are based there, said Shehrina Kamal, vice president of Intelligence Solutions at Everstream.

“When the floods receded, most major highways and roads were expected to be cleared this past weekend,” she said.

“Given that some companies have issued profit warnings and even declared acts of God, the effects of the flood are likely to drag on through supply chains for several weeks,” concluded Kamal.

Zurich-based company Klingelnberg, which makes transmission components, warned that the damage to its Hückeswagen plant in Germany could affect its sales targets for 2021.

Disruption of copper is bad news for electronics

The floods could also disrupt supplies of copper, which is used in many products from electronics to electric vehicles.

Flood-hit Henan Province in China is a major center of copper production, said Vivek Dhar, a commodities analyst with the Commonwealth Bank of Australia.

Copper prices rose sharply last week on delivery concerns, he said, as Henan has seen strong growth in copper smelting in recent years.

“Hopes for copper demand are linked to the rebuilding of damaged infrastructure in central China. China’s electricity sector is a particularly strong driver of copper demand,” Dhar wrote in a note last week.

In Europe, Aurubis GmbH – a provider of high-precision copper wires for the electronics and electrical appliance industries – declared force majeure in the case of deliveries after extensive floods in their plant, according to Everstream Analytics.

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Meanwhile, in Henan’s capital, Zhengzhou, the disruption could hit a wide range of industries, from automotive to pharmaceuticals to biotechnology, said Ryan Seah, APAC intelligence analyst at Everstream.

“Zhengzhou is a major transportation hub and one of the most important cities in China along the Belt and Road Initiative,” said Seah, referring to China’s gigantic infrastructure plan that spans several countries and continents. He added that the city is home to 91 China-listed companies and a variety of sectors.

There is also a large factory in Zhengzhou, which is made by Hon Hai precision industry, also known as Foxconn. It is the world’s largest assembly plant for Apples iPhones. Foxconn previously told CNBC that it “has activated an emergency plan for flood protection measures at this location”.

5 vaccinated international locations with excessive Covid charges depend on China vaccines

Covid-19 vaccines from Chinese companies Sinopharm (left) and Sinovac arrived at Phnom Penh International Airport in Cambodia on June 8, 2021.

Sovannara | Xinhua News Agency | Getty Images

Among the countries with both high vaccination rates and high Covid-19 infection rates, most rely on vaccines made in China, a CNBC analysis shows.

The results come like the effectiveness of Chinese vaccines faces increasing scrutiny, aggravated by missing data to protect against the more transferable delta variant. CNBC found that weekly population-adjusted Covid cases have remained elevated in at least six of the world’s most heavily vaccinated countries – and five of them rely on vaccines from China.

As of July 6, CNBC identified 36 countries with more than 1,000 new confirmed cases per million people weekly based on numbers from Our world in data, which compiles information from sources such as the World Health Organization, governments and researchers at Oxford University. CNBC then identified countries among those 36 where more than 60% of the population had received at least one dose of the Covid vaccine.

There were six countries and five of them use Chinese vaccines as an essential part of their national vaccination programs: United Arab Emirates, Seychelles, Mongolia, Uruguay and Chile. The only country among them that doesn’t depend on Chinese vaccines is that United Kingdom.

The UK has now approved vaccines from Moderna, AstraZeneca-Oxford, Pfizer-BioNTech and Janssen. UK Covid cases have increased in recent weeks as the more transferable delta variant has spread there.

Sinopharm and Sinovac did not respond to CNBC requests for comment.

Several factors can lead to an increase in Covid cases in countries with high vaccination rates. Vaccines do not offer one hundred percent protection, so those who are vaccinated can still get infected. At the same time, new variants of the coronavirus might prove better at overcoming vaccines.

The best option for many countries

Still, countries shouldn’t stop using Covid-19 vaccines from China, epidemiologists say, especially when vaccine supplies are limited in low- and middle-income countries.

Many of the countries and territories that have approved Sinopharm and Sinovac vaccines are developing countries that cannot compete with wealthier countries for vaccines developed in the United States and Europe.

Ben Cowling, a professor in the University of Hong Kong’s School of Public Health, said countries could choose to use certain vaccines depending on their long-term goals.

“Some countries may accept low prevalence as long as there are relatively few serious cases and deaths from COVID-19,” Cowling, who heads the school’s epidemiology and biostatistics department, told CNBC in an email. “That should be achievable with a high coverage of all available vaccines.”

However, some countries avoid vaccines in China. Costa Rica last month refused to deliver vaccines Developed by Sinovac after it was completed is not effective enough.

WHO approval

The World Health Organization has approved Sinopharm and Sinovac vaccines for emergency use.

The effectiveness of the two Chinese vaccines is less than that of PfizerBioNTech and Modern, both of which have shown greater than 90% effectiveness.

Sinopharm’s vaccine is 79% effective against symptomatic Covid infections, the WHO says, but its effectiveness in certain groups – such as people over 60 – is not clear. The Effectiveness of Sinovac’s shot depending on the country in which the proceedings took place, from around 50% to over 80%.

Experts say that the results cannot be directly compared between clinical trials because each study is structured differently. However, a study in Hong Kong found “significantly higher” antibody levels in people who received the BioNTech injection compared to those who received the Sinovac vaccine This was reported by the South China Morning Post.

Some experts suggest that the technology behind the various Covid vaccines could explain differences in their effectiveness.

Sinopharm and Sinovac vaccines trigger an immune response by exposing the body to a weakened or “inactivated” virus – a best practice which has been used by vaccines for decades. Pfizer-BioNTech and Moderna based their vaccines on a technology called messenger RNA, which instructs the body to make viral proteins that trigger an immune response.

“Inactivated vaccines are easy to make and are known for their safety, but tend to have a weaker immune response compared to some other vaccine types,” said Michael Head, Senior Research Fellow on Global Health at the University of Southampton in the UK. wrote in an article published on the Conversation website.

Still, large phase three clinical trials showed that inactivated vaccines were “highly effective against serious illness and death” from Covid, Cowling said.

The professor told CNBC that the spikes in Covid cases in some countries using Chinese vaccines “are typically an increase in mild infections with very few severe cases in fully vaccinated people”.

‘Herd Immunity’

When vaccines are less effective, more people need to be vaccinated to achieve “herd immunity”. This happens when the virus stops being transmitted quickly because most people are immune to a vaccination or have recovered from an infection.

Some countries decided to try to achieve herd immunity at the beginning of the pandemic, but are not known to have succeeded. Some who said they would achieve herd immunity like Swedento be at the end affected by Covid much harder than neighboring countries that went the vaccination route.

A study by the Kirby Institute at the University of New South Wales Wales in Sydney claimed that in New South Wales, Australia, herd immunity could be achieved if 66% of the population were given vaccines with 90% effectiveness against all infections.

The percentage of the population who needs to be vaccinated increases to 86% when vaccine effectiveness is 70%, and herd immunity is not achievable when vaccine effectiveness is below 60%, the study showed.

Leisure Information Roundup: Actor Amber Heard says she welcomed a child woman in April; Vietnam orders Netflix to take away Australian spy present over South China Sea map and extra

The following is a summary of the latest entertainment news.

actor Amber heard says she welcomed a little girl in April

“Aquaman” actor Amber heard revealed that she greeted a daughter in April and shared a picture of herself with the three-month-old on social media. In a post on Instagram late Thursday the 35-year-old who was previously married Hollywood star Johnny Deppsaid baby Oonagh Paige heard was born on April 8th.

Vietnam orders Netflix to remove Australian Spy show over the south China Nautical chart

Netflix Inc has the. away Australian Spy drama “Pine Gap” from his services in Vietnam after a complaint from broadcasting authorities in the Southeast Asian Land about the look of a map that Chinese Claims in the south China Sea. The map, which can be seen briefly on the screens of a control room of a spy base in two episodes of the six-part show, shows China’s unilaterally declared “nine-dash line” and is displayed in the context of maritime claims in the region.

Indian superstar Aamir Khan and producer woman Kiran Rao get divorced

Indian superstar Aamir Khan and his wife, the director and producer Kiran Raosaid Saturday that they are getting divorced after 15 years of marriage. The couple plan to raise their son Azad together and continue to work on films, their nonprofit Paani Foundation and other projects, they said in a joint statement.

The financial company wants out Britney Spears Conservatory case

Bessemer Trust, an asset management company serving as the co-curator of Britney Spears’ Property, asked on Thursday a The angel Court to withdraw from the case after the pop superstar testified that she defied the deal. Spears, 39, told the court last week that she believed the legal agreement introduced in 2008 to be abusive. The “Stronger” singer said she was forced to take the drug lithium against her will and was prevented from marrying and using contraception so she could try to have a baby.

(This story was not edited by Devdiscourse staff and is automatically generated from a syndicated feed.)

Zhao Benshan and the effective line between leisure, enterprise, and politics in China – SupChina

Zhao Benshan and the fine line between entertainment, business and politics in China – SupChina

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China Covid instances inflicting greater transport prices, delayed items

Sea containers from China and other Asian countries will be unloaded at the Port of Los Angeles on September 14, 2019 in Long Beach, California, as the trade war between China and the United States continues.

Mark Ralston | AFP | Getty Images

At first it was a critical shortage of shipping containers due to the pandemic. Then came a massive one Blockage in the Suez Canal.

Now businesses and consumers are preparing for another shipping crisis as a virus outbreak in southern China disrupts port services and delays deliveries, driving costs up again.

China’s Guangdong Province has seen a sudden surge in Covid-19 cases. Authorities have closed districts and businesses to prevent the virus from spreading rapidly.

This leads to massive shipping delays in large Chinese ports and drives up the already high shipping costs, as the waiting times at the berth “skyrocketed” according to analysts and representatives of the shipping industry.

“The disruptions in Shenzhen and Guangzhou are absolutely massive. Alone they would have an unprecedented impact on the supply chain, ”Brian Glick, founder and CEO of the supply chain integration platform Chain.io, told CNBC.

Together with the challenges that the global supply chain has been facing since this year, shipping is in “absolutely uncharted waters,” said Glick.

Guangdong, a major shipping hub, accounts for about 24% of China’s total exports. It is also home to the Port of Shenzhen and the Port of Guangzhou, which are the third largest and fifth largest in the world by container volume, according to the World Shipping Council.

The first local case of the Delta variant, first discovered in India, was found in Guangzhou in May and has since increased to over 100 cases. The authorities have imposed bans and other measures that limit the processing capacity in the ports.

Global supply chain at risk again

When various parts of the world recovered from the pandemic late last year, there was a buying boom that resulted in containers being critically undercut. This caused massive delays in shipping goods from China to Europe and the US, and drove up prices for businesses and consumers.

Then one of the largest container ships in the world, the Ever Given, got stuck in the Suez Canal and blocked the important trade route for almost a week. Around 12% of world trade is transacted via the Suez Canal, which an average of more than 50 ships pass through each day.

The incident sparked a global shipping crisis and kept $ 9 billion a day in international trade.

Now the recent crisis in southern China is again disrupting the global supply chain.

Shipping costs are at an all-time high … we’ve broken so many price caps that no one can say where that peak will be.

Brian Glick

Founder and CEO, Chain.io

“I think the risk of a supply chain disruption increases and export prices / shipping costs are likely to continue to increase. Guangdong Province plays a critical role in the global supply chain, ”said Zhang Zhiwei, chief economist at Pinpoint Asset Management.

JP Wiggins, vice president of corporate development for shipping software company 3GTMS, told CNBC that the port crisis in China will cause much more disruption for the American consumer as many of the shipments affected are destined for North America. In comparison, the Suez Blockade had a greater impact on European trade as many of the late deliveries were destined for Europe.

Wiggins also said that consumer expectations must remain in “Covid mode”.

“Expect shortages and sell-out of all products made in Asia,” he said.

Shipping costs ‘at all time high’

The increasing shipping costs are a direct result of the crisis.

“Many small and medium-sized shippers throw their hands up because shipping costs exceed the margins of the products they want to ship,” said Glick. “Shipping costs are at an all-time high with anecdotal quotes hitting 5 to 10 times the historical norm. We have broken so many price caps that no one can say where this will peak.”

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Wiggins warned that prices are “volatile” and said he advises shippers to spend twice as much as it is unclear where this is going.

Shippers who cannot afford the delays will increasingly try to convert ocean shipments to air, which will further increase shipping costs, said Shehrina Kamal, vice president of intelligence solutions at Everstream Analytics.

Ripple effect

Waiting times for ships docking at the Yantian International Container Terminal in Shenzhen have “skyrocketed” from an average waiting time of 0.5 days to 16 days, according to Kamal.

The backlog will exacerbate other ports.

The problem is already worsening in nearby ports as airlines begin diversion, Kamal said. The port of Nansha in Guangzhou is experiencing an influx of cargo due to the diversions, and the congestion and ship delays are expected to last for another two weeks – if not longer, she said.

Coupled with the pandemic in India and the Southeast Asian economies … this surge in Covid cases in Guangdong could add to higher inflationary pressures in other countries.

Zhang Zhiwei

Chief Economist, Pinpoint Asset Management

According to Kamal, the consequences will even spread to neighboring provinces such as Guangxi, Yunnan, Hunan and Hubei.

Fears of inflation

In addition to mainland China, the port at the Hong Kong financial center is also affected.

Cross-border delivery was possible there by truck, but the authorities recently tightened the measures due to the pandemic. That means, among other things, all cross-border trucks will need to be sterilized, which is likely to delay freight traffic and processing overall, Kamal said.

Overall, transshipment at the ports in Guangdong will remain slow in June and other parts of China will likely become more cautious, said Zhang of Pinpoint Asset Management.

This could lead to higher prices, although investors are concerned about rising inflation and the potential impact on interest rates.

“Coupled with the pandemic in India and the Southeast Asian economies … with rising raw material and shipping costs, this surge in Covid cases in Guangdong may add to higher inflationary pressures in other countries,” he warned.

China arrests over 1,100 suspects in crackdown on crypto-related cash laundering

Police in China arrested over 1,100 people suspected of using cryptocurrencies to launder illegal proceeds from phone and internet fraud in a recent raid, the public security ministry said.

The arrests came as Chinese authorities stepped up crackdown on cryptocurrency trading. Last month, three industry bodies banned crypto-related financial and payment services, and the State Council, China’s cabinet, pledged to crack down on bitcoin mining and trading. Continue reading

The Ministry of Public Security said the police had arrested more than 170 criminal groups using cryptocurrencies for money laundering by Wednesday afternoon.

The money launderers charged their criminal customers a commission of 1.5% to 5% to convert illegal income into virtual currencies via crypto exchanges, the ministry said via its official Wechat account.

China’s Payment & Clearing Association said Wednesday that the number of crimes related to the use of virtual currencies is increasing.

Since cryptocurrencies are anonymous, convenient and global, “they are increasingly becoming an important channel for cross-border money laundering,” said a statement from the association.

Cryptocurrencies have already become a popular means of payment for illegal gambling activities. Almost 13% of gambling sites support the use of virtual currency, and blockchain technology has made it difficult for authorities to track the money, the association said.

Our standards: The Thomson Reuters Trust Principles.

China Eases Restrictions On Overseas Funding In Leisure Venues

Foreign investors are now allowed to build entertainment venues in China without investment restrictions or local partners, according to new legislative changes.

This opens the doors for future wholly-owned foreign companies Cinemas in the largest film market in the world. It could also be big news for U.S. entertainment companies looking to run theme parks in the country. Previous rules required them to band together to form joint ventures with local companies, as did Disney did to open its lucrative Shanghai Disneyland theme park, and as Universal had to do for its near-completed theme park near Beijing.

The changes come from the Chinese State Council, the highest government body in the country, via a “change and repeal of certain administrative regulations” and were announced on Monday through the country’s Ministry of Culture and Tourism.

Previously, the regulations stipulated that foreign investors could only participate in business with event venues in which a Chinese party acted as the majority shareholder through joint ventures or cooperation with local partners. Now it simply says that “foreign investors can establish entertainment venues in China in accordance with the law.”

This change in wording seems to further formalize an earlier change in the law from 2019 that basically allowed foreign investors to own cinemas in full. The new wording also extends the directive to all entertainment venues, not just cinemas.

The latest development marks the final step in the slow opening of the exhibition sector to non-Chinese investors.

Before 2000, foreign investors were prohibited from investing in cinemas. The policy was relaxed from 2000 to 2003 when they were allowed to invest up to 49% equity in exhibition companies. This was followed by a trial period from 2004 to 2005, during which foreigners were allowed to invest up to 75% equity in seven pilot cities. However, this policy was abandoned and foreigners could not invest more than 49% again by 2019.

Despite the booming film market in China, investments in the country’s exhibition sector have so far proved unattractive to foreign actors, few of whom have dipped a toe in the water. The end of the 2004-05 experiment preceded the withdrawal of the Warner Brothers International Theaters from China, which had opened a handful of complexes.

Theaters that are wholly foreign-owned would still have to adhere to China’s strict censorship rules and would not be able to show content without prior approval from government agencies.

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China is already profitable World Conflict III, by way of cash

actor John Cenais terrible Sorry to China has become a viral sensation. While it may seem trivial to some, it serves as a visual touchstone of the aggressive tactics China is using to gain domination.

While promoting the ninth installment of “Fast and Furious“Film franchise for a Taiwanese broadcaster,” Cena said in part, “Taiwan will be the first country to see” F-9 “.”

Show the outrage under the leadership of the People’s Republic of China – and the apparent panic within the leadership of the production companies behind the film and those at Universal Pictures who distribute the film and need China’s money for film consumers.

For China’s communist leaders, naming Taiwan “land” means touching an electrified third rail. They don’t allow it.

The next act of Cena was predictable. In what looks like a hostage video, Cena begins his humiliating apology, apparently after being bombarded by phone calls from the film producers and their PR flacks. It can go down as an award-winning achievement. Cena explained, in Mandarin:

“Hello China, my name is John Cena. I’m in the middle of ‘Fast and Furious 9.’ I do a lot of interviews. I made a mistake in one of my interviews. I have made a mistake. I have to say something very, very, very important now: I love and respect China and the Chinese. I am very, very sorry about my mistake. I apologize, I apologize; I am very sorry. You have to understand that I really love, really respect China and the Chinese people. Excuse me. See you.”

While Cena is the most impressive visual example of how some people prostrate themselves in order not to offend China, it is apparently far from being alone for the Chinese money to flow into bank accounts. The iron fist of China has pinned thousands of people around the world under its gold-plated thumb. Most seem willing to ignore China’s egregious ones Human rights violation to let the money flow.

In the minds of China’s civil and military leadership, they are acting in the best interests of their nation. Why bother using your military might when those who oppose you can be subjugated by economic means?

That the United States let them win across the board so easily is really shocking. The Chinese Communist Party (CCP) leaders must be secretly amazed that American corporations, universities and colleges, Hollywood film studios and sports leagues are so willing to source the CCP money that they pour into the trough. It is like fattening chickens and cattle until they have served their purpose and are ready to be devoured.

While the term “useful idiot” has been attributed to the murderous duo of former Soviet prime ministers Vladimir Lenin and Joseph Stalin who seek to encourage obedient sympathizers for their Marxist goals through money, ideology or violence, the Merriam-Webster dictionary now defines “useful idiot” as: “A naive or gullible person who can be manipulated or exploited to advance a cause or political agenda. ”

Billionaire entrepreneur Peter Thiel recently called this description criticizing certain big tech companies that are keen to extract billions of dollars from the CCP’s ATMs while deliberately turning a blind eye to China Forced labor camp and the human atrocities be committed within its limits.

Will John Cena, Hollywood executive, college presidents, major league sports leaders, and big tech plutocrats speak on this affliction? Sorry, that was a rhetorical question. We already know the answer is a quiet, whimpering “no”.

It is. Marco RubioMarco Antonio RubioDemings raises the Democrats’ hopes for a tough fight against Rubio Extraordinary explanations for UFOs seem increasingly plausible 3 GOP senators compete against the Biden secret service candidate because of Huawei connections MORE (R-Fla.) Added to Thiel’s warning by saying that China “has represented major American corporations and their leaders to … push and pressure policies that favor the Chinese position”. This brought a collective yawn from many giving China’s commandments.

But whether or not some on the left, in the mainstream media, in American corporations, in Hollywood, or in academia, want to admit it or not, China is in the business of winning. And to win for the CCP usually means defeating the advantages of the United States by all means necessary.

In a recent interview on CBS60 minutes, “Foreign Minister Antony BlinkAntony BlinkBlinken warned Israeli officials of Palestinian evictions: report Blinken condemns changes to Hong Kong’s electoral law America’s open border policy MORE touched on that reality when he said, “I think that as time goes on, China believes that it can and should and will be the dominant country in the world.”

Imagine the surprise to China’s leaders that in order to achieve global hegemony, instead of starting World War III, they simply had to cut some checks.

Douglas MacKinnon, a policy and communications adviser, was a White House writer for Presidents Ronald Reagan and George HW Bush and a former Pentagon Special Assistant for Politics and Communications for the last three years of the Bush administration.