UK Media: China’s Financial System Out Of Control
The Financial Times published comments on June 24 that
China’s recent traumatic panic of money shortage, credit bubble,
and the coexistence of funds shortage and excessive credit,
revealed a fundamental dilemma of the Chinese financial system.
The article said that this dilemma has two parts: the degree
of liberalization of China’s financial system is not enough,
the savings rate is still in strict government control, secondly:
bank loans are unscrupulous, credit growth is over 20%.
The article points out, the government can implement the
restructuring of banks capital.
“But the damage caused by failure of the financial system
cannot be written off.
These losses are destined to be born by certain areas. So who
will bear it will certainly lead to intense political struggles."
Tibetan Delegates Visited North America
Chinese Communist Party (CCP) Congress Tibetan
delegation recently visited Toronto and Ottawa.
During the visit, about 20 representatives of local overseas
Chinese and students met in the forum of the General Consul.
After the meeting, several pro-Chinese media published a
press release a few hundred words long.
According to Radio Free Asia, Mr. Norbu Tsering, Parliament
member for Tibetans in exile of North America believes that
what Chinese officials are talking about is completely the
opposite of the truth.
He said that the CCP officials talked about Tibetan harmony,
stability, as well as the environment,
making it sound like everything in Tibet was so perfect.
However, these claims were obviously lies.
As well as increasing local conflicts caused by
the local CCP,
to keep things stirred up, the CCP in Tibet implemented
many damaging policies for the environment,
such as the unlimited exploitation of mineral resources,
deforestation, rivers pollution.
Norbu Tsering specifically pointed out that
if the CCP visitors tried to tell the truth to local overseas Chinese and western society,
it should be for the public, and as public meetings,
rather than hiding in the consulate to talk about Tibet .
Navy Officers Protested
On June 22, hundreds of demobilized deputy army officers
and their families protested at the gate of the
South China Sea Fleet base in Guangzhou for the deprivation
of their interests and those of grassroots officers.
According to the Chinese Jasmine Revolution website,
the demonstrators had three large banners that read:
“Navy Housing Reform Office deprived housing of officers";
“Devotion to Navy two decades, housings were occupied";
“Guangzhou deputy regiment level Naval officers and
families seeking housing with tears of blood."
It is reported that since an interview request of
protesters with the working group was flatly refused,
demonstrators got enraged and overturned the base door.
The Chinese Communist Party Navy dispatched many
armed security personnel to mount a suppression.
They injured many people; a family member was hit
on the head, and is seriously injured in a coma.