Be an international currency firstly need to be exchanged freely without restriction secondly must have liquidity. Is the evil willing to open up freely their currency to international market ? no, there have two currency in the market namely onshore and offshore. Till now no evidence that the currency will open to international in foreseen near future.

under "1 rude 1 bell" project, the evil used up a lot of foreign reserve with debt 300% of their annual profit in less than 80 years compare to the largest evil 800% in 200 years.

All the smaller factories should continue the business with the evil by using part of the evil currency. Those smaller factories should also welcome global supply chain realigments from both evils. by receiving the evil currency can't buy the products from international market due to that currency was not free exchange. Just buy something from the evil factory with their currency, and balanced reqest their currency convert to the largest evil current for international trading or foreign reserve to sustain local currency stability.

How do make the evil stronger and better ? by carrying more mega infra work ?

Definitely no, By digging a hole and covering back could generate the revenue but no contribution to the factory profits or worker skills. The evil factory should carry out R & D to venture some products that the markets could not resist, cheap and good with brands. With the current empire system how to attract genius and expertise from the world ? only rely on the smaller evil to plan and execute himself to make everything perfect ? No, if he could he would be called God and not evil.

Posted by foongsh > 3 days ago | Report Abuse

To make evil and brother story more interesting I would like to add that: The largest evil change his policy not because the rise of the smaller evil, it is the smaller evil did not follow the Terms and Conditions set by the International Bodies eg. International Labor Laws, Fair Trading Laws and respect copyrights as he thought that his factory was the only world factory could supply products to the entire world. It hardly got replacement. So the smaller evil called the Agreement and Contracts were historical documents for only reference and fun wihout any legal binding.

60% House Price Seized by Govt: Chinese Trapped Financially, Leaving 10% of Homes Unfinished
https://youtu.be/rysnkxkzMQk

Posted by foongsh > 3 days ago | Report Abuse

To make evil and brother story more interesting I would like to add that: The largest evil change his policy not because the rise of the smaller evil, it is the smaller evil did not follow the Terms and Conditions set by the International Bodies eg. International Labor Laws, Fair Trading Laws and respect copyrights as he thought that his factory was the only world factory could supply products to the entire world. It hardly got replacement. So the smaller evil called the Agreement and Contracts were historical documents for only reference and fun wihout any legal binding.

The smaller evil told that the largest evil that: I grew up now and as strong as you. Due to the current world order set by you, I wanted to challenge you and follow my way to play the game. If you don't allow me to challenge you then you are not peaceful and you are a hegemony. If you sanction me and banned me then you are really a bad guy. Q1: did the smaller evil allow the neighbouring to challenge him and amend his way to play the game ? Q2: Would it be good just let the two evils fight insteads of joining the smaller to fight the largest evil ? Q3: If the smaller evil replace the largest evil, would the smaller evil bully us ? What did the history tell us ?

Evil supports always asked that why did you always bad mouth the evil.

To tell the truth considered bad mouth ?

Evil supporters answered that telling truths or facts anything about the evil were discrimination because the evil MUST be democratic, perfect, smart, peaceful and fair person.

Just like you already wrong 20 years. still want to continue. silly

U may ask my workers, they cursed US bankcrupcy and collapsed for the past 20 years. till now US still the no. 1. You jeolous ?

This is only your assumption and interpretation, it never mentioned in my evil story. Please be creative and innovative to tell your own story. Learned to be a good story teller.

The smaller evil told that the largest evil that: I grew up now and as strong as you. Due to the current world order set by you, I wanted to challenge you and follow my way to play the game. If you don't allow me to challenge you then you are not peaceful and you are a hegemony. If you sanction me and banned me then you are really a bad guy. Q1: did the smaller evil allow the neighbouring to challenge him and amend his way to play the game ? Q2: Would it be good just let the two evils fight insteads of joining the smaller to fight the largest evil ? Q3: If the smaller evil replace the largest evil, would the smaller evil bully us ? What did the history tell us ?

When laughing at others please look at the mirror.

Many people dont know CCP depends on too much leverage on the infrastructure and property bubbles to boost up GDP. It can be done easily by dipping a hole and covering back the hole to boost up the GDP on numbers, however, it does not generate any value to the development anymore with very high leverage. How CCP local government to generate GDP, by selling lands to developers, then developers build very expensive housing to the market. It is too expensive to afford and now the 3 years lock down the property bubble burst, the property value dropped by 50%. Due to the banking system , the local banks even discharge all the payments to developers when the building complete only 50%. The sales drop the developers not able to generate cash flow to continue the building construction work and caused thousnds of abandoned buildings all over the cities. And now homebuyers cant get the completed units to stay but still to pay their housing loans. As such, homebuyers stopped paying housing loan due to many jobless or pay. The local banks are in financial crisis and caused the depositors cant withdraw their money. CCP cant rely on infrastructure construction and property to boost up their GDP anymore which normally contributed 30% of GDP.

"BLACK HOLES"
"The LGFVs have become the black hole of the Chinese financial system. They have been used to fill the gap between local government revenue and expenditure," said Andrew Collier managing director at Orient Capital Research.

"They have little or no profit, and cannot pay back their debt owed," he said. "I expect many LGFVs to collapse, or to be quietly recapitalized by banks, putting some rural banks and some bondholders at risk of defaults."

The total debt of China's LGFVs has swelled to a record 66 trillion yuan ($9.5 trillion), equivalent to half of the country's economy, from 57 trillion yuan last year, according to an International Monetary Fund (IMF) report last month.

Concerns about their worsening credit profile come as the government is trying to lift the economy from the grip of a property debt crisis in the last couple of years, which saw a number of developers default on their debt and land sale revenues plummet, forcing Beijing to roll out a slew of supportive measures."LGFVs are under considerable pressure on debt repayment this year, because their income is often associated with real estate and land sales," said Wang Tao, chief China economist at UBS.

CAUTIOUS LENDERS
Chinese Premier Li Keqiang listed "preventing and defusing local government debt risks" as one of the major tasks for the government in the upcoming year, when he delivered the government report on Sunday as China's two sessions kicked off.

That priority comes as some Chinese banks with exposure to LGFVs are increasingly getting requests to extend their near-term maturities by as much as six months and reduce interest rates, three sources with knowledge of the matter said.

The sources, who declined to give details, could not be identified due to the sensitivity of the matter.

Chinese banks and other financial institutions have been cautious on new lending to LGFVs over the past years.

In recent months, some state-owned banks, asset managers, and insurers have been looking into their portfolios to screen LGFV borrowers with weaker creditworthiness and dispose them, separate financial sector sources told Reuters.

Faced with tighter credit criteria at home, LGFVs turned to offshore markets and raised a record $39.5 billion via dollar bonds last year, according to rating agency S&P. Offshore branches of Chinese financial institutions have been major buyers of the bonds, industry sources said.

Since late 2022, however, authorities have sharpened scrutiny of LGFVs dollar bond issuance. The National Development and Reform Commission (NDRC) turned down requests from units with lower credit ratings, said two separate sources with knowledge of the matter, as part of its efforts to stem financial sector risks.

The NDRC and the China Banking and Insurance Regulatory Commission didn't immediately respond to requests for comment.

DEFAULT WORRIES
A deterioration in capital-market access can increase refinancing risk and deepen the liquidity crunch for the LGFV sector, Fitch Ratings said in a report last month, adding units in less economically developed regions are more at risk.

The worsening outlook for LGFVs has also made some shadow banks -- lenders for sectors that are unable to tap bank funding directly -- worried about their exposure to such units and averse to fresh lending.

"LGFVs used to be financed in the shadow banking (sector) but increasingly it has moved to the onshore bond market and, in some cases, offshore," said Alicia García Herrero, chief economist for Asia Pacific, at Natixis.

"It seems clear to me that a number of projects may default with consequences for bondholders, specially offshore ones."

Some analysts believe that Chinese authorities would avoid large scale of defaults by LGFVs as that would make debt market access tougher for both public and private issuers at a time when efforts are being made to revive the economy after the dismantling of three years of tough COVID-19 measures.

"LGFV debt itself as a share of GDP is still manageable at this stage. The key issue is to stop the fast growth and avoid default to trigger panic in the market," said Zhiwei Zhang, chief economist at Pinpoint Asset Management.

5 minute readMarch 10, 20233:14 PM GMT+8Last Updated a month ago
SHANGHAI/HONG KONG, March 10 (Reuters) - China's push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing.

As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates, sources said. Local Government Financing Vehicles (LGFVs) have 5.5 trillion yuan ($790 billion) worth of onshore bonds coming due this year, the highest since 2021, according to Fitch.A sharp drop in income from mainstay land sales and fewer options for raising fresh funds have fuelled concerns about LGFVs' ability to meet debt obligations and its impact on the broader banking sector and markets.

The ability of fiscally stretched local governments to follow through on spending will also be a key test for China's modest economic growth target of around 5% this year, as LGFVs play a key role in funding infrastructure projects, one of the biggest growth drivers for the world's second-largest economy.So far, they have been no public reports of an LGFV default, but some have had loans extended.

Apple, Disney at heart of selective decoupling

NEW YORK: Apple Inc and Walt-Disney Co are among US businesses that will face the steepest challenges in a “selective decoupling” from China, a key lawmaker says after a series of meetings with executives and experts in Hollywood and Silicon Valley.

Representative Mike Gallagher, the chairman of a House committee focused on US-China competition, met with Apple chief executive officer Tim Cook and Disney CEO Bob Iger as part of a three-day trip through California to learn more about how companies are navigating the tensions between the world’s two largest economies.

“Apple’s at the heart of what is the most complex aspect of this competition, which is companies that have a massive presence in China are going have to deal with the fact that some form of selective economic decoupling is inevitable,” Gallagher said in a phone interview. “It’s going to continue.”

Gallagher, a Republican from Wisconsin, and his Democratic counterpart, Raja Krishnamoorthi, led a group of about a half dozen lawmakers through a jam-packed programme filled with meetings with tech and entertainment executives.

Global supply chain realignments are benefits to ASEAN countris, DSAI attracts all types of currencies investment to boost out economy and refuse to give up an inch of our Tanah Malaysia.

obviously the evil story not for you. however, thanks for your reading.

South Korea recorded a trade deficit of US$5.1 billion with China in January and February, which was the highest among all its trading partners
South Korea’s trade deficit with China is not a temporary phenomenon, but a structural problem as the comparative advantage of its products is disappearing, an analyst said.

Choosing an alliance is very importan due to global chain supply realignment.

Anyone would naive enough to think those smaller factories would be able to supply ALL Products or Materials that the evil needs ? What happen if the evil not enough to supply the international currency to change back his own currency to smaller factories or suppliers ? The evil factory still earn their profits more 50% from the biggest evil alliance.

Anyone would naive enough to think those smaller factories received evil currency and spent all or make it as own reserve ? the evil could not manufacture ALL Products and sold to smaller factories. The smaller factories or suppliers still need the international currencies to buy fuel, raw materials, foods, medicines etc ...

Be an international currency firstly need to be exchanged freely without restriction secondly must have liquidity. Is the evil willing to open up freely their currency to international market ? no, there have two currency in the market namely onshore and offshore. Till now no evidence that the currency will open to international in foreseen near future.

under "1 rude 1 bell" project, the evil used up a lot of foreign reserve with debt 300% of their annual profit in less than 80 years compare to the largest evil 800% in 200 years.

All the smaller factories should continue the business with the evil by using part of the evil currency. Those smaller factories should also welcome global supply chain realigments from both evils. by receiving the evil currency can't buy the products from international market due to that currency was not free exchange. Just buy something from the evil factory with their currency, and balanced reqest their currency convert to the largest evil current for international trading or foreign reserve to sustain local currency stability.

Most probably those jokers bought a lot of RMB and short US dollar.

Which are the world’s major reserve currencies? June 22, 2022

US Dollar: 58.81%

Euro: 20.64%

Japanese Yen: 5.57%

Pound Sterling: 4.78%

Renminbi (Chinese Yuan): 2.79%

Only joker will tell you that US dollar will become toilet paper in foreseen near future. No doubt due to almost the peak high of interest rate US dollar will depreciate.

Why the largest evil is the no.1 technology and innovation because it attracts all type of capable races to carry out foundamental research and technology invonation under the democratic environment. The largest evil staffs think out the box and express their point of views withour fears and discriminations. They respect copyrights. Venture capaitals attract large amount of funds to carry their R & D. They dont just blindly follow the leaders with only to achieve one goal because they are free to proceed to achieve multiple tasks at one time.

In contrast, the evil's management skill just like a dynasty all the management staffs dare not to speak up the truths and only telling something that the evil willing to listen. Resources allocation on the R & D departement only follow what evil instruction. Famous supervisor named Jack Meh did a good job to create Ale Bebe products also kena chopped because the evil don't like that product although making a lot of money but got blamed monopoly and threathened the evil leadership. The evil jeolous his staff Jack Meh met the the largest leader without his consent. Jack Meh planned to expand his department to finance business but having conflicts with the evil machai private business. Too bad the company was controlled by the evil alone and not by system. With that how many genius willing to work under the evil factory especially those from oversea ?

That's why the evil could manufacture some products but could not own a brand. The largest evil did not need to manufacture the products but make big money, it can easily make the global supply chain realignment to suit his needs. That's why he is still the biggest evil till now.

The evil told the house owner that I encroached inside your land lot because base on my own judgement, you did not get along well with your family members. Your family members used to be my best friend, due to your bad morality come to negotiate with me. For the sake of "peaceful", don't report to police or friend. You better don't equip yourself with weapon because this attitide is very evil. You don't resist you will suffer less pain.

3 days later after negotiation, I will occupy your master bedroom. Let me plan When I want to take over your kitchen or dining hall. Be a good person and don't call me evil. Indeed, very evil.

How I defind an evil: The evil make judgement his own way without discussing with 3rd party or others. The evil punished or killed the victims by his own way which he thought he was always right. The victims always deserved the pain and fear just based on his own judgement and actions. The more victims resist the more victims got pain. Very evil.

TQ. To be continued.

nobody teach you how to write an innovative and creative interesting story ? Learned to be a good story teller.

In fact, there is nothing malu if issued evil bonds or to replace largest evils bonds. It is malu that keep on telling lies and cheap publicity to fool everyone. The evil is extremely good in publicity but made him look like angel, peaceful, kind, good morality, democratic etc. Remember don't call him evil.

There is only one answer as and when the evil went back to thousand years empire glory. Then this is not evil story we should call it a fairy tale story.

Anyone would naive enough to think those smaller factories would be able to supply ALL Products or Materials that the evil needs ? What happen if the evil not enough to supply the international currency to change back his own currency to smaller factories or suppliers ? The evil factory still earn their profits more 50% from the biggest evil alliance.

Anyone would naive enough to think those smaller factories received evil currency and spent all or make it as own reserve ? the evil could not manufacture ALL Products and sold to smaller factories. The smaller factories or suppliers still need the international currencies to buy fuel, raw materials, foods, medicines etc ...

Be an international currency firstly need to be exchanged freely without restriction secondly must have liquidity. Is the evil willing to open up freely their currency to international market ? no, there have two currency in the market namely onshore and offshore. Till now no evidence that the currency will open to international in foreseen near future.

under "1 rude 1 bell" project, the evil used up a lot of foreign reserve with debt 300% of their annual profit in less than 80 years compare to the largest evil 800% in 200 years.

Posted by henry888 > 14 minutes ago | Report Abuse

From what i knew, real evil country is seeking the what you so called the evil country to purchase the bond (with raising the upper limit to 51 trillions) so as to prevent the default of bond.

This is only your interpretation and assumption, it never mentioned in my evil story. Be creative and innovative enough to create your own story. Remember to be a good story teller.

Posted by foongsh > 26 minutes ago | Report Abuse

IDQ, back to your evil stry:
The smaller evil told that the largest evil that: I grew up now and as strong as you. Due to ..

All the smaller factories should continue the business with the evil by using part of the evil currency. Those smaller factories should also welcome global supply chain realigments from both evils. by receiving the evil currency can't buy the products from international market due to that currency was not free exchange. Just buy something from the evil factory with their currency, and balanced reqest their currency convert to the largest evil current for international trading or foreign reserve to sustain local currency stability.

if CCP sure win, it should have launched the attack. no need talk talk already.

Posted by foongsh > 12 minutes ago | Report Abuse

Didn't the evil factory got plenty of workers and capable staff graduated from national and international institution ? why you said no genius or expertise ?

This is because all the departement heads and supervisors strictly follow one instruction, east is east west is west, correct or incorrect still follow, how to attracts genius or expertise ? attarct only silly persons just follow instruction and wait for salary end of the month.

Didnt u know Japan and Taiwan got plenty of short range missiles. US got base in Japan, Korean, Philipines ...

How do make the evil stronger and better ? by carrying more mega infra work ?

Definitely no, By digging a hole and covering back could generate the revenue but no contribution to the factory profits or worker skills. The evil factory should carry out R & D to venture some products that the markets could not resist, cheap and good with brands. With the current empire system how to attract genius and expertise from the world ? only rely on the smaller evil to plan and execute himself to make everything perfect ? No, if he could he would be called God and not evil.

Posted by foongsh > 1 day ago | Report Abuse

To make evil and brother story more interesting I would like to add that: The largest evil change his policy not because the rise of the smaller evil, it is the smaller evil did not follow the Terms and Conditions set by the International Bodies eg. International Labor Laws, Fair Trading Laws and respect copyrights as he thought that his factory was the only world factory could supply products to the entire world. It hardly got replacement. So the smaller evil called the Agreement and Contracts were historical documents for only reference and fun wihout any legal binding.

If the evil want to follow the jungle Laws, what would the largest evil should do ?

The government said on Saturday it was firmly committed to protecting its sovereign rights and interests in the South China Sea after China expressed concern about energy projects in a part of the sea that China also claims.Prime Minister Anwar Ibrahim said last Tuesday China was worried about activity by state energy firm Petronas in a part of the South China Sea that Malaysia says is its territory.

Anwar said he was open to negotiations with China, drawing criticism from the opposition, which said Anwar was risking Malaysia's sovereignty.

The foreign ministry said in a Saturday statement Anwar's comment meant Malaysia would like all issues related to the South China Sea to be resolved in a peaceful manner and without compromising Malaysia's position.The government of Malaysia is unequivocally and firmly committed to protecting Malaysia's sovereignty, sovereign rights and interests in its maritime areas in the South China Sea," the ministry said.China claims sovereignty over almost the entire South China Sea, through which about US$3 trillion (RM13.24 trillion) worth of ship-borne trade passes annually. Malaysia, Brunei, the Philippines, Taiwan and Vietnam have some overlapping claims.

Petronas operates oil and gas fields within Malaysia's exclusive economic zone (EEZ) and has in recent years had several encounters with Chinese vessels.

China stakes its claim with a reference to a "nine-dash line" on its maps, which loops as far as 1,500km south of its mainland, cutting into the EEZs of Vietnam, the Philippines, Malaysia, Brunei and Indonesia.

The Permanent Court of Arbitration, however, ruled in 2016 that the nine-dash line has no legal basis.

Anwar said last week Petronas would continue its activities in the South China Sea.

TQ for reading my evil story. Please do not relate any person or country in my friction story. This ie very evil.

An evil always think about his power everlasting long and failure of others.

Posted by foongsh > 13 hours ago | Report Abuse

very interesting evil story.

TQ, to be continued.

Why the largest evil is the no.1 technology and innovation because it attracts all type of capable races to carry out foundamental research and technology invonation under the democratic environment. The largest evil staffs think out the box and express their point of views withour fears and discriminations. They respect copyrights. Venture capaitals attract large amount of funds to carry their R & D. They dont just blindly follow the leaders with only to achieve one goal because they are free to proceed to achieve multiple tasks at one time.

In contrast, the evil's management skill just like a dynasty all the management staffs dare not to speak up the truths and only telling something that the evil willing to listen. Resources allocation on the R & D departement only follow what evil instruction. Famous supervisor named Jack Meh did a good job to create Ale Bebe products also kena chopped because the evil don't like that product although making a lot of money but got blamed monopoly and threathened the evil leadership. The evil jeolous his staff Jack Meh met the the largest leader without his consent. Jack Meh planned to expand his department to finance business but having conflicts with the evil machai private business. Too bad the company was controlled by the evil alone and not by system. With that how many genius willing to work under the evil factory especially those from oversea ?

That's why the evil could manufacture some products but could not own a brand. The largest evil did not need to manufacture the products but make big money, it can easily make the global supply chain realignment to suit his needs. That's why he is still the biggest evil till now.

The evil realised that the largest evil is a big hundred year alliance, by alone he is not able to resist them. The evil proposed "1 rude 1 bell" project by funding and building infra structures to develop the neighbouring friendly and poor factory in rural area. The smart evil borrow money from the rich largest evil with minimum interest rate by the name of "the most favor factory" and "developing factory" and lend it to the smaller rural factories with normal interest rates. The proposed "1 rude 1 bell" project including construction of Tolls and Highways, bridges, tunnels etc. The evil mobilised all equipments, materials, labors etc. for the purpose of execution. It is very weird that they don't even buy a nail from the rural area. The smaller factory owners questioned that why did we need such expensive infra structures ? With our small size factory only 1 lane tar kampung road will do. The evil bribe the factory owner, end up the factory owner went to the jail after the factory change hand. However, those small factory owner not able to pay the loans and caused the "bad debt trap". Eventually, the evil took away the concessions of durian trees, mongo trees etc. But many evil supporters felt very happy and praised mega infra was the best gifts to this world. Amen.

sorry that the evil story not for you. Please do not read and skip.