Shanghai’s Lujiazui financial district, known as China’s “Wall Street,” has paid a high price under the Chinese Communist Party’s strict zero-COVID policy. More than a third of the district’s shops have been closed, according to a financial service firm’s analysis. CRIC Securities, a financial service provider in Hong Kong, revealed in its August report that…
Capitol Report (Aug. 5): 528,000 Jobs Added in July Jobs Report; Pentagon Denies DC’s Request for National Guards Migrant Help
August 5, 2022
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biden administrationCapitol ReportChinaDemocrat billEpochTVfake newshouses of worshipJoe BidenlightningNancy PelosiShanghaiUSUS NewsWashington DC
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There’s been a major breakthrough for the Democrats’ health care and climate bill. President Joe Biden and Republicans have commented on its inflationary impacts. To break down the Democrats’ latest bill aimed at reshaping the federal budget, we’ll hear from an economist about how it will address the budget deficit and more. The Biden administration…
Capitol Report (Aug. 5): Pentagon Denies DC’s Request for National Guards Migrant Help; 528,000 Jobs Added in July Jobs Report
August 5, 2022
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biden administrationCapitol ReportChinaDemocrat billEpochTVfake newshouses of worshipJoe BidenlightningNancy PelosiShanghaiUSUS NewsWashington DC
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There’s been a major breakthrough for the Democrats’ health care and climate bill. President Joe Biden and Republicans have commented on its inflationary impacts. To break down the Democrats’ latest bill aimed at reshaping the federal budget, we’ll hear from an economist about how it will address the budget deficit and more. The Biden administration…
Toyota Misses April-June Output Target but Says May Be Turning Corner
TOKYO—Toyota Motor’s production for the April-June quarter fell around 10 percent short of its initial plan, but the automaker struck a more optimistic note for its business from August onwards as China’s COVID-19 lockdowns eased and demand outside Japan was resilient. The world’s largest automaker by sales said on Thursday that output and sales were…
Shanghai Residents Undergo Sporadic Lockdowns
Shanghai residents are continuing to experience on and off lockdowns due to new outbreaks of COVID-19. In areas of the city under partial lockdown, people have been under restrictions but officials have provided little in the way of information to the public, residents say. When 35 areas in the city had restrictions lifted on July…
Taiwan Accuses Chinese Company of Stealing Secrets
Shanghai is on its way toward a new round of mass testing; there’s fear the city is headed back under a new lockdown. Taiwan takes another step toward tackling intellectual property theft. This time, the island is taking aim at a Chinese Apple supplier. A high-level Taiwanese delegation visits the Czech Republic. The country’s leader…
China Auto Industry Cuts 2022 Outlook as Commercial Demand Slumps
SHANGHAI—A slump in commercial-vehicle demand led China’s automobile industry association on Monday to downgrade its sales forecast, as anti-pandemic measures weighed on the economy and its car market, the world’s largest. The industry will sell 27 million cars this year, up 3 percent on 2021, the China Association of Automobile Manufacturers forecast, cutting its outlook…
China’s Banking System Is Short on Cash: Gordon Chang
China is going through a systemic debt crisis due to lack of liquidity, according to China expert and author Gordon Chang. Chang pointed to a number of banks in China’s north-central Henan Province that reportedly did not allow 400,000 depositors to withdraw money, saying “The [Chinese Communist] Party right now has no economic answers. The…
COVID-19 Sub-Variant to Lead Shanghai to Lockdown?
After living in Shanghai for 16 years, an American family decides to leave the Chinese city they call home. They explain what became the last straw. China announces its first case of a COVID-19 subvariant in Shanghai. Heavy restrictions are coming back to the city, while locals fear going back under lockdown. Beijing voices four…
China and Pakistan Commence Military Drills in Shanghai
July 11, 2022
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China and Pakistan announced the commencement of live-fire military drills July 11, coinciding with drills currently being conducted by the United States and its allies. The joint exercises, dubbed Sea Guardians 2, began at the Wusong military port in Shanghai and will continue through July 13. The exercise is the second of the China-Pakistan Sea…
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