Top Story – PMI for Communist China “collapsed”: HSBC’s Purchasing Manager Index (PMI) – a gauge of future economic growth – “collapsed” (Epoch Times) for Communist China. Bloomberg reported that actual rate – 47.7 – was the lowest in nearly a year, significantly below the “break even” point for growth (50), and a clear sign that the Chinese economy was heading for a “hard landing.” For more on what that means, see the Financial Post and the Epoch Times.
Japan sees new Communist military activity in disputed territory and new American Ambassador: The CCP military action, as reported in The Hindu Business Line, centers around Okinawa and the Senkaku Islands. Thew new Ambassador is Caroline Kennedy, “daughter of President John F. Kennedy and a loyal and early supporter” of the president (Washington Times). Whether this is just a political pay off or a sign that a high-profile appointee means Tokyo will get more attention from Washington remains to be seen. Vance Serchuk (Washington Post) certainly hopes its the latter (and so should we).
More International News: Huawei – best known for helping Saddam Hussein build an air-defense network to use against American pilots and building a telephone network in Taliban-controlled Afghanistan – may be expanding into the foreign investment business in the United States (Washington Times). The Weekly Standard looks at the CCP’s efforts on the Nicaraguan canal.
Bo Xilai indicted on corruption charges: The cadre who allegedly had a role in the murder of a British investor was charged with “corruption, embezzlement and abuse of power” (Washington Post). Also reporting: Epoch Times
CCP’s response to renting out one’s home – five years in jail: The tragic story of Li Wenhai, who only started letting out parts of his home to make up for losing his job, is in the Epoch Times.
Other Taiwan news: The editors of the Taipei Times note that the “1992 consensus” between the island democracy and the Chinese Communist Party is, in fact, a 2000 myth. Taiwanese civic groups call for support of mainland dissidents (Taipei Times). President Ma Ying-jeou promises a probe on the death of Corporal Hung Chung-chiu (Taipei Times). Huang Tien-lin (Taipei Times) examines the effects of Taiwan-CCP trade deals.