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China Credit Machine Shrivels After IMF Disclosure Request

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China Credit Machine Shrivels After IMF Disclosure Request AUG 22- 28, 2019 ISSUE 622 AUSTRALIAN EDITION THEEPOCHTIMES.COM TRUTH AND TRADITION $3.00 JOHANNES EISELE/AFP/GETTY IMAGES GREENLAND ‘I Promise Not to Do This to TRUTH and TRADITION Greenland:’ GET YOUR Trump Riffs COPY NOW! on Greenland AVAILABLE Purchase EVERY WEEK IN MAJOR NEWS- SIMON VEAZEY President Trump followed up the re- AGENTS cent revelations that he had mulled ACROSS NSW the United States purchasing Green- land on Aug. 20 with a playful post SUBSCRIBE TODAY on Twitter. ReadEpoch.com.au A gold skyscraper emblazoned “Trump” towers over a coastal 02 8988 5600 hamlet in Greenland in a picture shared by the president. “I promise not to do this to Green- In land,” is all Trump wrote in the cap- the tion, leaving his 63 million social NEWS media followers to figure out just A bank employee uses a money counting machine to count out 100 yuan (A$20.9) notes at a bank in Shanghai on Aug. 8, Continued on A7 2018. They told him that if he continues CHINA to be vocal about HONG KONG things that the Chi- Disney Faces Calls nese government doesn’t like, the China Credit Machine Shrivels of ‘Boycott Mulan’ daughter, when After Star Voices she applies to Ad- elaide University, After IMF Disclosure Request Support for Hong her application might be denied. Kong Police That’s here in IMF scrutinises China’s official data after 2 banks became TIFFANY MEIER Australia. insolvent in July Disney’s upcoming live-action re- Former Miss World Canada make of Mulan is facing widespread Anastasia Lin on Beijing’s CHRISS STREET backlash after the starring actress intimidation of Chinese voiced support for Hong Kong city expats in Australia. hina’s ‘Total Social Financing’ credit was up a booming +10.9 percent, or police’s use of force against the pro- AU | A2 growth plunged by -55.3 percent $2.3 trillion, for 12 months through The Chinese democracy protestors. in July as the IMF was calling for June. But TSF plunged by -55.3 per- economy is facing “I support the Hong Kong police. C greater foreign exchange interven- cent from $322.9 billion in June to You can all attack me now. What a tion transparency and disclosures. $178.6 billion in the month of July. external headwinds shame for Hong Kong,” Chinese-born A heinous crime July saw tremendous turmoil in China’s TSF tends to seasonally and an uncertain Continued on A5 against our people; China’s financial markets as pro- slow in July, but it was down -18 environment. how is it possible to tests in Hong Kong sped up capital percent from the same period last VISUAL CHINA/GETTY IMAGES train a human and flight, the People’s Bank of China year and about -44 percent below International Monetary ask him to go and (PBoC) was forced to seize insolvent Wall Street analysts’ forecast. A Fund annual review with the blow himself [up] Baoshang Bank and Bank of Jinzhou closer look at China credit and People’s Republic of China inside a wedding?!! citing “serious” credit risks, and the liquidity reveals that consumer annual rate of capital flight acceler- loans, mostly mortgage, that had Afghanistan presidential ated from $22 billion last year to a been growing by +16.5 percent over spokesman Sediq Seddiqi $139.2 billion annual rate. the past year and +138 percent over on the ISIS attack inside Total Social Financing (TSF) is the last five years, plunged by $72.42 a wedding hall in Kabul on the Chinese term for real economy billion, or -23.5 percent. Aug. 17 that killed 63 people. aggregate financing that includes But even more worrisome, China Actress Liu Yifei arrives for the red car- WORLD | A3 public offerings, hitting an all-time corporate lending tanked in July pet of the 19th Shanghai International high of $657.4 billion in January and Continued on A4 Film Festival at Shanghai Grand Theatre in China on June 11, 2016. The current rate of transmission SAM YEH/AFP/GETTY IMAGES can be described DEFENCE as intense. US Tests Cruise Missile That Was Dr. Margaret Harris, spokesperson for the Banned Under INF Treaty World Health Organisation response team in Congo, on the Ebola pandemic in central Africa. IVAN PENTCHOUKOV & ZACHARY STIEBER WORLD | A3 The United States has tested a medi- um-range ground-launched cruise The heads of the State Department Intercepting and missile that would have been banned Two US-made F-16 fighters in the air during a scramble take off at the eastern under a treaty with Russia from and the Pentagon told reporters that Hualien air force base on Jan. 23, 2013. which the United States formally the United States planned to deploy MONITORING ground-launched missiles to counter CHINA withdrew on Aug. 2. communications may The Intermediate-Range Nuclear the growing number that China has. become impossible for US Government Moves Ahead With Sale of Forces (INF) Treaty was signed dur- intelligence agencies ing the Cold War, but U.S. officials— within the next 5 to 10 F-16V Fighter Jets to Taiwan with backing from the North Atlantic pacted its target after more than 500 years due to advances Treaty Organization (NATO)—argued kilometers [about 310 miles] of flight. in AI and quantum-level FRANK FANG chiefly to guard against the Chinese that Russia breached the treaty, re- Data collected and lessons learned encryption, a recent U.S. regime, which considers the self- fused to correct its actions, and in- from this test will inform the De- defence study predicts. TAIPEI, Taiwan—Taiwan’s air de- ruled island a renegade province, sisted it hadn’t violated the treaty. partment of Defense’s development US| A6 fences are set for a major upgrade to be united with the mainland in “The United States has fully ad- of future intermediate-range capa- as the United States plans to sell it the future, with military force if hered to the INF Treaty for more bilities,” it stated. 66 F-16V fighter jets worth $8 billion. necessary. than 30 years, but we will not remain San Nicolas Island is located some INSIDE Taiwan President Tsai Ing-wen, The United States, after severing constrained by its terms while Russia 60 miles from the mainland and the while answering reporters’ ques- official diplomatic ties with Taiwan misrepresents its actions,” President U.S. military has previously tested AU............................................ A2 World....................................... A3 tions following a visit to a local tech in recognition of Beijing in 1979, has Donald Trump said in a statement. weapons there, including military China....................................... A4 company in the city of Taichung on maintained a non-diplomatic rela- “We cannot be the only country in research rockets. US.............................................A6 Aug. 17, said the arms purchase is an tionship with the island, based on the world unilaterally bound by this Rep. Liz Cheney (R-Wyo.) was Opinion....................................A9 “energy boost in national capability the Taiwan Relations Act, under treaty, or any other.” among those celebrating the missile FEATURES ... for the purpose of maintaining which the former has continually The Department of Defense said test, writing in a statement, “NDAA Food.......................................... B1 peace,” according to local media. sold military weapons and equip- Aug. 19 that it conducted a test the must fully fund this development Travel....................................... B2 “Only when we are capable of self- ment to Taiwan—to the disapproval day before of “a conventionally- activity. Congress can’t allow Russia defence can we guarantee that such of the Beijing regime. configured ground-launched cruise to gain a military advantage.” DON’T DELAY. peace be continued,” Tsai added. She Taiwan’s Central News Agency first missile” at San Nicolas Island in Cali- Experts expected the United States SUBSCRIBE TODAY. READEPOCH.COM.AU also expressed her gratitude to the reported in early March that Taiwan’s fornia. to test an intermediate-range missile TEL: 02 8988 5600 U.S. government for the deal. air force had formally submitted a “The test missile exited its ground on the day it formally exited the INF Taiwan’s defensive capabilities are Continued on A4 mobile launcher and accurately im- Continued on A7 The Epoch Times was founded in 2000 to provide honest and uncensored news coverage of China. Based in New York City, our newsroom is dedicated to restoring accuracy and Accuracy integrity in media. We stand outside political interests and the pursuit of profit. And we stand against the systematic destruction of traditional culture by destructive ideologies & Integrity such as communism. A2 | AU AUGUST 22-28, 2019 Beauty Queen That Made China ‘Run Away’ Says Many Chinese Live in Culture of Fear, Risk Persecution KERRY SHAW PHOTOGRAPHY MELANIE SUN According to Lin, this tragic situa- tion is the same faced by many Chi- She went from being promoted as an nese families around the world. international star in China’s state me- “They’re using it as a weapon,” she dia after winning Miss World Canada said of the regime, to “create fear to seeing her father’s livelihood de- among other Chinese people. They stroyed because she wouldn’t stay control China using the tools of lies quiet about the human rights abuses and manipulation.” in her home country. Now, Anastasia Lin is a scholar- Twisted, Manipulated in-residence for one month with the Lin says that recent events in Chinese Australian think tank the Centre for history, like the cultural revolution, Independent Studies. have “twisted and manipulated” The 29-year-old, described in a mainland Chinese people—something Globe and Mail editorial as the beauty she observed after moving to Canada queen that China saw and ran away from Hunan, China, at the age of 13.
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