Ћина-Средње Краљевство

China on Tuesday removed outspoken Foreign Minister Qin Gang from office and replaced him with his predecessor, Wang Yi, in a move that has already fueled rumors over the personal lives and political rivalries of China’s Communist Party elite.

In its announcement on the national evening news, state broadcaster CCTV on gave no reason for Qin’s removal. Qin dropped out of sight almost a month ago and the Foreign Ministry has provided no information about his status.

That is in keeping with the ruling Communist Party’s standard approach to personnel matters within a highly opaque political system where the media and free speech are severely restricted.

The ministry made no comment at its daily briefing on Tuesday. The move comes amid a foreign backlash against China’s increasingly aggressive foreign policy, of which Qin was a chief proponent.

Adding to the mystery around Qin’s removal, it was approved at a meeting of the Standing Committee of China’s rubber stamp legislature, the National People’s Congress, which usually gathers at the end of the month.

China's property giant Evergrande Group, which yesterday filed for US bankruptcy in a New York court, posted an $80 billion loss over the past two years and has over $300 billion in total liabilities.

— The Spectator Index (@spectatorindex) August 18, 2023

China's largest real estate developer Country Garden is struggling to stay afloat. As the country grapples with weaker growth, a possible bankruptcy could spell more trouble. https://t.co/7PVcrHOUMS

— DW News (@dwnews) August 18, 2023

A month after posting record youth unemployment figures, China's official statistics agency declares it will no longer publish such data breakdowns. https://t.co/5mGXMJRbvO

— DW News (@dwnews) August 15, 2023

For years, Evergrande raised a lot of its cash by borrowing billions of dollars from banks and investors, and pre-selling unfinished apartments so that it could amass more land and develop projects in over 200 Chinese cities. It has some 800 projects underway. But this year [2021], its shares have lost about 80% of their value in just a few months. Problems started for the company when pandemic lockdowns hurt property sales, and when Chinese authorities said they wanted to fight speculation in real estate and announced rules that barred Evergrande from taking on new debt. Many of its construction projects all over China has stopped. It started to face mounting pressure, complaints, and protests from suppliers, contractors, home buyers, and small investors all over the country.

beatakeshi wrote:Ništa "too big to fail". Komunizam prop'o. Što bi rekao Kutle, to je kao bicikl.

Улични ходач wrote:Као што сам писао на другој теми, у двојцу Русија-Кина, Кина је слабија карика. Кина има технологију али нема сировине. Лакше је направити технологију него обезбедити сировине, Немци то најбоље знају. Они су због тога два светска рата изазвали, управо да би обезбедили сировине за дугорочни развој. Ако би Русија окренула леђа Кини, много би се тешко Кина одржала, они ће иовако имати пуно проблема јер ће их све више ситискати управо на важним трговачким поморским путевима. А они немају баш неку традицију офанзивног ратовања. Кини је Русија насушно потребна за даљи развој.

Улични ходач wrote:Јбг. ја нисам прошао елитне геополитичке школе Београда. Али знам да поморске путеве држе САД. Па се зато САД бродови спрдају око Тајвана, кинеске територије по тврдњи Пекинга. Нисам приметио много америчких бродова у Црном мору.
Кина тек мора да се докаже као сила јер у супротном следи гушење. Прво Хуваеи а онда нафта.