Tag: Xi Jinping

…meanwhile…

FRIDAY 3/17/23

(U.S. European Command has released de-classified video footage of a Russian Su-27 “conducting an unsafe/unprofessional intercept of a U.S. Air Force MQ-9 in international airspace over the Black Sea…” Russian aircraft spilled fuel on the MQ-9 drone before an Su-27 caught its propeller and forced European Command to down it. See the released footage here:https://www.eucom.mil/article/42318/media-advisory-camera-footage-release-from-us-air-force-mq-9-interaction-with-russian-su-2)

Slovakia Joins Poland – Slovakia becomes the second NATO country to provide warplanes to Ukraine for its defense against Russia’s invasion. It will send 13 MiG-29 jets to Ukraine. Earlier this week, Poland announced it will send four of the Soviet-era warplanes to the country. According to The Kyiv Independent, Ukrainian Prime Minister Eduard Heger said the jets will be used to protect the country’s skies and “not to carry out attacks against Russian military.”

Meanwhile: Beijing has announced Chinese leader Xi Jingping meets with Vladimir Putin in Moscow next week (per NPR).

•••

Truth Social Money Laundering Probe – Top executives of Truth Social became concerned last spring about “opaque entities in two emergency loans” to Donald J. Trump’s struggling social media site, The Guardian reports, citing “documents, emails and sources familiar with the matter.” The U.S. attorney’s office for the Southern District of New York is investigating yet another potential crime in connection with the former president, in a scoop by The Guardian earlier this week. 

The two “emergency loans” include $6 million from the ES Family Trust in February 2022 (the month Russia invaded Ukraine), the trustee of which turns out to be a director of Paxum Bank, a part-owner of which is a relative of a Putin ally. The first of the two loans came in December 2021 from Paxum Bank, which is registered in Dominica.

Trump, Meanwhile, Defends Russia: In a video he released Thursday, Trump said, “the greatest threat to Western civilization today is not Russia,” per another UK-based newspaper, the Daily Mail, “it’s probably more than anything else ourselves and some of the horrible, USA-hating people.”

•••

Other Banks Save First Republic – Eleven banks led by JP Morgan Chase, Citigroup, Bank of America and Wells Fargo & Co. have deposited $30 billion into First Republic to save the San Francisco bank. The bailout includes $2.5 billion each from Morgan Stanley and Goldman Sachs, and The Wall Street Journal reports that First Republic executives sold $11.8 million in stock in the two months leading up to the bank’s crash, at an average price of nearly $130 per share.

Executive Chairman James Herbert II was among the bank’s executives who sold shares before First Republic stock fell to $34.27 per share and credit-rating agency S&P Global downgraded the bank four notches to “junk” status. WSJ notes that insider stock sales at banks are exempt from normal disclosure rules.

•••

We welcome your civil comments. Become a Citizen Pundit with an email to editors@thehustings.news on any recent issues, and note whether you lean left or right in the subject line.

--TL

_____________________________________________

THURSDAY 3/16/23

Ukraine to Get Warplanes – Poland will provide Soviet-made MiG-29 fighter jets to Ukraine, President Andrzej Duda said at a news conference Thursday (per The Washington Post). Poland is the first NATO nation to provide fighter jets, long requested by Ukraine after Russia’s invasion more than a year ago.

•••

TikTok ... Time Out? – The Biden administration demands that Chinese-owned TikTok be sold to avoid a potential ban in the United States, according to NPR’s Morning Edition. It is not clear whether federal officials have set a deadline for such a sale, the report says. 

The Committee on Foreign Investment in the U.S. (CFIUS) has been examining for two years whether U.S. data collected by TikTok are properly safeguarded from employees of the social media site’s Beijing owner, ByteDance. TikTok has commited $1.5 billion to its “Project Texas,” in which U.S.-based Oracle is to build a firewall to ensure security for users in the U.S. 

The Trump administration had attempted to put TikTok out of business, NPR notes, but efforts were halted by federal courts.

•••

Banking “Remains Sound” – Treasury Secretary Janet Yellen will tell the Senate Finance Committee Thursday the U.S. banking system “remains sound” and promote the government’s “decisive and forceful actions” to shore up confidence, Axios reports. 

Meanwhile: Credit Suisse will borrow up to $54 billion from Switzerland’s central bank. Shares in Credit Suisse momentarily plunged 25% Wednesday after Saudi National Bank indicated to other European banks it would no longer support the Swiss bank.

--Compiled and edited by Todd Lassa

_____
COMMENTS: editors@thehustings.news

Republicans, Democrats Agree on Chinese Threat

WEDNESDAY 3/1/23

By Todd Lassa

In the refreshingly bipartisan House Select Committee on Strategic Competition Between the United States and the Chinese Communist Party’s first public hearing Tuesday evening Republicans and Democrats pretty much agreed that U.S. acquiescence to China is boosting its economy and global prominence at the cost of our own. 

“We may call this a strategic competition, but it is not a polite tennis match,” Committee Chairman Mike Gallagher (R-WI) said in his opening statement. “This is an existential struggle over what life will look like in the 21st Century.”

At times, Democrats used their cross-exam time to promote Democratic policy, while Republicans used their time on the mic to promote Republican ideals. Even then, the committee’s three hours of testimony was almost unnaturally civil, with a panel consisting mostly of moderates from both sides of the aisle. Unlike an earlier House committee hearing earlier Tuesday on oversight of U.S. funding for Ukraine, there was no Matt Gaetz (R-FL). 

There was Rep. Andy Barr (R-KY), who warned the federal government “should not embrace Chinese-style central planning.

“We should not try to counter China by being more like China.”

Barr followed Rep. Shontel Brown (D-OH), whose questions prompted witness Scott Paul, president of the Alliance for American Manufacturing, to say that public investment was needed – including infrastructure spending -- for local manufacturing of computer chips and other products currently dominated by Chinese industry. 

Rep. Andy Kim (D-NJ) warned that Congress’ potential failure to raise the federal debt ceiling this year would show weakness in our democracy to the Chinese. 

“Democracies that reach high don’t always reach the skies,” responded witness Matt Pottinger, who served as deputy national security advisor under the Trump administration. “People understand that it’s not always going to look pretty.”

Rep. Jim Banks (R-IN) .

“I believe fentanyl is committing diplomatic blackmail,” he said, and Pottinger cited FBI Director Christopher Wray’s assessment that a lab in Wuhan, China “most likely” released COVID-19 to result in the pandemic. (An Energy Department assessment leaked to The Wall Street Journal last week says it has “low confidence” in that conclusion.)

Rep. Dusty Johnson (R-SD) noted that China has increased its holdings in farmland outside its own borders by 1,000% in recent years. While Chinese entities, mostly governmental have purchased relatively little farmland in the U.S., it’s mostly close to military system installations, replied witness H.R. McMaster, Trump administration national security advisor in 2017 and 2018.

Rep. Jake Auchincloss (D-MA) suggested then-President Trump’s withdrawal from an Asian trade pact with China was a boon to the Chinese president’s plans for world domination. 

“January 6, 2021 was Xi Jinping’s best day in office,” Auchincloss said. He suggested negotiation of a new trade agreement involving the U.S. and Taiwan.

The hearing’s fourth witness, Chinese dissident Tong Yi (above), said tech experts here should “research how to bring down the great firewall,” China’s blocking of Facebook, YouTube, Twitter and Google. “The truth is powerful on its own,” she said, and journalists and rights lawyers are “heavily repressed” inside China. 

The U.S. must watch not only the social media site TikTok, but also WeChat, Tong said, “a must-have inside China, but also a must have” for Chinese-Americans to communicate with their relatives inside China who must self-repress what they convey to those relatives to keep from being blocked by Xi’s government.

_____
COMMENTS: editors@thehustings.news