Category China Social Credit Application
China & the Future
Armstrong Economics Blog/Armstrong Economics 101
Posted Dec 1, 2022 by Martin Armstrong
COMMENT: Hello Marty !!
It looks like the ” China as a parking lot for cash has already begun. FXI going to the moon of late in spite of Xi & Co. cutting off their own economic foot to hide behind their troubles and blame it on the darn protestors to the folly, by golly. One thing I’ve learned over the years from you is that when one (You) declares things are gonna get nuts (from a guy who has seen way more then his share), don’t blink when human events exceed the retardation level of insanity (NOW!)
Thank You for your take on reality and truth, it is setting many free, and these are those who will pick up the pieces once the warring factions beat each other silly and dead.
Very Best Martin, much respect!
REPLY: I know a lot of people do not like our forecast that post-2032 China will emerge as the Financial Capitol of the World replacing the United States. Some argue against me citing the protests and the form of government. Let me state as clearly as I possibly can. DO NOT assume that the current government in China will survive any more than the United States or Europe.
The last major political collapse was the birth of the United States, the French Revolution, and the surrender of the supreme power of the monarch in Britain and elsewhere. It was the fall of the monarchy and the world turned to a Republic.
I would like to see the world turn to reach democracy where We the People actually decide to go to war rather than these corrupt politicians who take bribes.
The fall of the United States is underway. The nation has become polarized and next will come separatist movements just as in the American Civil War which took place 86 years into the cycle (10 * 8.6) from 1775/6.
All of this talk of a One World Government will end war is absurd. The former President of France stood before the EU Parliament and stated that was the same idea that led to the creation of the EU. One European government would prevent European war. Now they are trying to accomplish this using the United Nations.
Obviously, these people lack any understanding of history. Yes, Rome was one government and it lasted overall for 1,000 years. However, it had many civil wars and it even split into three empires during the 3rd Century.
Perhaps you will recall after the assassination of Julius Caesar in 44BC, Mark Antony and Octavian (Augustus) were together and waged civil war against Brutus and others. Then they too split and waged yet another civil war with Mark Antony and Cleopatra v Octavian and his general Agrippa.
Augustus became the first emperor in 27BC and then the Julio Claudian Dynasty lasted until the death of Nero in 68AD. Then another civil war unfolded. The empire then survived until the assassination of Commodus in 192AD launching yet another civil war that lasted 4.4 years until the rise of Septimius Severus. The death of his son Caracalla in 217AD sparked another battle for the throne for 2 years.
Obviously, one government doe NOT guarantees peace. The utopian nonsense these people are talking about is all a thirst for raw power and even the end of a Republican form of government where we the people will have no right to vote at all. Schwab and his WEF make it sound this is all for your benefit rather than those like Schwab who just want to control everything and everyone.
So when I say China will become the next Financial Capital of the World, make no assumptions. What we think is the solid world of politics as it is today will be no more on a global scale.
CHINA’S EPIC ANTI-COMMUNIST UPRISING EXPLAINED! | Louder with Crowder
Steven Crowder Published originally on November 28, 2022
The CCP implemented one COVID-zero policy too many, and the Chinese people are revolting. We’ll cover the latest on the protests and say goodbye to Anthony Fauci. Also, Disney learned once again when you go woke, you go broke. And Alyssa Milano is an idiot. #China #Disney #Fauci
Chang: China Protests Are Revolutionary
Posted originally on the conservative tree house on Newsmax TV Published November 28, 2022
People are pushing back hard against the CCP’s zero-Covid policy. Gordon Chang joins us to discuss the government’s brutal crackdown and the intense pressure mounting on President Xi.
Largest iPhone Factory Hires 100K Employees after Lockdown Scare
Armstrong Economics Blog/China Re-Posted Nov 21, 2022 by Martin Armstrong
Apple iPhone 14 production slowdown from the Foxconn manufacturing plant in China continues. A high percentage of workers fled the world’s largest iPhone factory as soon as the lockdown went into effect. Reports state that the site, only weeks ago, that Foxconn looked like an abandoned center piled high with workers’ belongings as the government simply tossed all dissenters’ possessions out of windows to be discarded. That is how quickly people had to flee. Foxconn had to recruit 100,000 new employees after the incident.
The Chinese recall horror stories from past lockdowns, only a few months ago, where food and aid were not available, and the government could not properly ration essentials.
China’s business confidence survey from October showed that 55% of companies lost confidence in doing business in China in the short term. The Zero COVID policy is scaring business from China. Yet, China’s refusal to forego COVID restrictions points to a bigger problem. The banks are in the midst of a liquidity crisis, printing money is not an option, and lockdowns are an effective way to control the population’s movement.
Chinese Protestors Escape Facial Recognition with Lasers
Armstrong Economics Blog/China Re-Posted Aug 25, 2022 by Martin Armstrong
Welcome to the new world. Protestors in China have cleverly found a way to avoid police facial recognition software by pointing an array of lasers at the police. China has perhaps the most extensive facial recognition of any country. SenseNets, a facial recognitional company in Shenzhen, experienced an internal leak in early 2019. The database contained detailed information on over 2.5 million people, including their addresses, IDs, birthdays, and their movement around the country. Over 6.8 million locations were revealed during the leak, leaving everyone in the software completely exposed to hackers who could determine their exact location.
The government is not merely tracking the movement of criminals as everyone will eventually become part of a facial recognition database. China took measures a step further in 2020 by issuing each individual a social credit score that rates how well an individual adheres to the government. We are not free when the government can restrict our movements and assign us a score based on their personal criteria. Facial recognition software is extremely dangerous. Hackers made little effort to access SenseNets files, and in the wrong hands, anyone could be hunted down.
Although they’re less upfront about their plans, other countries plan to follow suit. Canada is rolling out its Digital Identification program, and the World Economic Forum has been advocating for advanced tracking measures. Expect additional tracking software to become commonplace throughout the modern world.
Unemployment Growing Among Chinese Youth
Armstrong Economics Blog/China Re-Posted Jul 15, 2022 by Martin Armstrong
Unemployment among the youth (16-24) in China has reached a record high of 18.4%. Unemployment is drastically more prevalent in this demographic compared to the nation as a whole where unemployment sits at 5.9%. Youth unemployment tends to be higher in most nations, with the US posting a 7.8% unemployment rate for the youth and the European Union reaching 13.9%. While our models indicate that China is on the rise, the strain on the labor force will slow the trajectory.
The Bank of America believes youth unemployment in China will rise to 23% in the coming months. They also believe unemployment for the nation as a whole will continue to rise. Young people flock to the cities for employment, and there are simply not enough jobs to meet demand. The requirements to enter college surpass most nation’s standards and numerous teens have taken to social media to complain about the harsh selection process.
China is now encouraging new graduates to seek work in the less desirable countryside, as over 10 million students are set to graduate in the coming weeks. The government is offering incentives to those who choose to work in the country as well.
“For college graduates who start a business in the field of urban and rural community services, policies such as preferential taxes and fees, one-time entrepreneurship subsidies, and guaranteed loans for entrepreneurship shall be implemented in according with regulations,” The Ministries of Education, Finance, Civil Affairs, and Human Resources and Social Security stated. Businesses in these areas that agree to hire new graduates will receive government incentives as well.
The problem began with the pandemic and lockdowns. The zero COVID policy rule has slowed China’s progress toward becoming the financial capital of the world. Small businesses, and businesses in rural areas, were especially affected by the lockdown policies. Additionally, hiring in the tech field has declined after President Xi placed new regulations on that sector. The primary jobs offered in the countryside include hospitality, real estate, and healthcare. Options for remote work could increase the ability for the youth to live and contribute to life outside urban areas. China must find a way to employ these new graduates with no prior experience before the situation worsens.
400,000 Chinese Lose Their Life Savings Instantly
Armstrong Economics Blog/Corruption Re-Posted Jul 13, 2022 by Martin Armstrong
Officers in plain clothes disrupted a peaceful protest outside the capital of Henan, as seen in the video above. Depositors were protesting to demand that their savings be returned as thousands have been unable to access their money for over a month. Banks in Henan first froze client assets, and then the Chinese government changed the victims’ COVID QR passes to red to deny them the freedom of movement. The most recent protest was among the largest seen in China since the pandemic began.
Over $6 billion (39 billion yuan) is missing. A reported 400,000 people have been affected. Imagine going to the bank only to realize that your entire life’s savings were gone instantly? You worked hard, saved, and did everything right for years or decades, only to have it all abruptly taken away. Even the most ruthless government is in trouble when the people have nothing left to lose. Imagine if the Chinese were permitted to own guns? There would be uncontrolled civil unrest.
So where is the money? Chances are that the banks do not have the liquidity to pay out all of the depositors. Instead of cracking down on the banks, the government is coming after innocent people. Officers in plain clothes attacked protestors, including the elderly and women, and civilians were left wondering why their own people would attack them when they were clearly the victims. Governments are completely ruthless and DO NOT CARE ABOUT THE PEOPLE.
China Uses COVID Pass to Restrict Movement
Armstrong Economics Blog/Tyranny Re-Posted Jun 21, 2022 by Martin Armstrong
People believed that governments would use tracker apps solely for COVID purposes. Sadly, the Chinese are quickly learning the harsh reality – the apps were always intended to control the masses. Over $6 billion (39 billion yuan) has been frozen, and thousands of people are unable to access their bank accounts. A few banks in rural Henan reported bank runs, and residents were planning a protest after finding that their funds were frozen.
Conveniently, the COVID tracing app is required to enter the bank. Users need to scan their QR codes to enter most public places. It has been reported that thousands of COVID-negative individuals had their status changed via the app, restricting their movement and making public places inaccessible.
Numerous depositors were taken to quarantine camps. CNN reported on one individual who was forced to spend the night in a quarantine camp after his code falsely showed he came into contact or was infected with COVID. He was permitted to leave the following day, but since his code was still inactive, he was not permitted to board the train home. As the lockdowns have shown, government tyranny is certainly not restricted to China. If it happened there, it could happen anywhere.