Top Story – JP Morgan under investigation for business practices in Communist China: According to the New York Times, the bank “hired the children of powerful Chinese officials,” possibly to “help the bank win lucrative business in the booming nation.” Among the would-be princelings snapped up by the bank were Zhang Xixi, when his father was head of China Railway and “in the process of selecting JP Morgan to advise on its plans to become a public company” (Zhang the elder was later bounced due to selling contracts for bribes), and Tang Xiaoning, whose father is “a former Chinese banking regulator” and “now the chairman of the China Everbright Group, a state-controlled financial conglomerate.” China Everbright has since become a major JP Morgan client.
Bo Xilai to go on trail Thursday: The former high ranking cadre will be tried for “taking bribes, embezzlement and abuse of power” (Washington Times), presumably including his role in his wife’s plot to kill British investor Neil Heywood. However, according to the Washington Post, the verdict and sentence will not be decided by the judge, but rather by the higher-ups in the Chinese Communist Party.
More corruption news: Liu Tienan, described by Agence France Presse as a “former top economic policymaker,” is now under investigation for what the Communist-run Xinhua News Agency calls “huge amounts of bribes” (Taipei Times). A judge who tried to blame foreign media for his colleagues being caught with prostitutes has a history of “colluding with developers, building a private sky villa, and stealing 6 tons of Maotai [Chinese liquor] every year” according to police (Epoch Times). A litany of corrupt deals in Yunnan Province is exposed…and could lead to more trouble for Zhou Yongkang (Epoch Times).
Over half of city water sources in Communist China are polluted: In Beijing, the situation is particularly bad, all five sources of water have pollutants “exceeding established safety limits” (Epoch Times), but over 200 other cities and towns have water so polluted that Liu Li, an expert from the University of Central Missouri, dubbed them “cancer villages.”
New Kenya president visits Communist China: Uhuru Kenyatta flew to the source of much “investment” in Africa, leading the Washington Post to worry about the continent falling away from the United States and towards the neo-colonial power.
US-South Korea military exercises begin: So far, the CCP’s Korean colony has been silent about the the military drills (BBC). In fact, the “North Korea” regime even agreed to family reunions and a reopening of Kaesong (finally).