Thought for the day

"People do not expect to find chastity in a whorehouse. Why, then, do they expect to find honesty and humanity in government, a congeries of institutions whose modus operandi consists of lying, cheating, stealing, and if need be, murdering those who resist?" -- H. L. Mencken

The United States asked the U.N. Security Council to meet on North Korea on Wednesday after Pyongyang fired a ballistic missile over Japan, but diplomats said China and Russia are opposed to a public discussion by the 15-member body.

Nuclear-armed North Korea test-fired a ballistic missile farther than ever before on Tuesday, sending it soaring over Japan for the first time in five years and prompting a warning for residents there to take cover.

The line for promoting NATO's potential in the Asia-Pacific region (APR) using any tools is clearly taking shape, Nikolai Nozdrev, director of the Russian Foreign Ministry's Third Asian Department (3AD), said in an interview with Sputnik.

Taiwan’s Defense Ministry said Tuesday that China is seeking to “normalize” its stepped-up military activity around Taiwan, including Chinese flights over the median line, which came in response to House Speaker Nancy Pelosi (D-CA) visiting the island.

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Glenn Greenwald sounds the alarm on a very real threat of a nuclear exchange MikeRivero Wed, 10/05/2022 - 06:02
Coast Guard Spots Chinese, Russian Warship Formation Off Alaska MikeRivero Tue, 10/04/2022 - 15:12

The US military revealed Monday that earlier this month a US Coast Guard had ship embarked on a routine patrol in the Bering Sea and its crew was surprised to come across a Chinese PLA Navy guided missile cruiser.

But more rare and unexpected was that the Coast Guard soon discovered the Chinese ship wasn't alone as it sailed off Alaska's coast, but was accompanied by two additional Chinese military ships and four Russian naval vessels, including a destroyer. The Chinese-Russian patrol group was described as being "in single formation". 

After it joined the World Trade Organization in 2000 and anchored the Chinese yuan (a.k.a. renminbi) to the U.S. dollar, China linked its economy to the United States. Enforcing a fixed exchange rate regime with strict capital controls, China benefited from large inflows and relatively low-interest rates due largely to the low-interest rate environment in the United States. What happens to the Chinese economy when interest rates increase in the United States?

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China warned the United States it could face severe consequences—including the prospect of nuclear war—if it allows Ukraine to join the North Atlantic Treaty Organization (NATO), drawing the 30-member alliance into the country's conflict with Russia.

Chinese companies that have signed long-term contracts to buy U.S. liquefied natural gas have been selling their excess inventories to Europe and reaping big profits from the sales thanks to weak demand in China, the Wall Street Journal reports.

WSJ reports that just 19 LNG vessels from the U.S. docked in China in the first eight months of the year, a far cry from 133 recorded for last year’s comparable period. China’s key buyers are located in Europe, Japan and South Korea.

The U.SGovernment Accountability Office conducted a study, requested by House Republican Conference Chair Elise Stefanik and House Foreign Affairs Ranking Member Michael McCaul, which found that U.S. government agencies sent more than $28 million taxpayers dollars to Chinese entities for research and development between 2015 and 2021.