Communist IPOs could create “China bubble”: A rash of initial public offerings (IPOs) by Communist firms in U.S. stock markets “could spark an asset bubble to rival the dot-com crash” (BBC). Sounding the alarm was Richard D'Amato, Chairman of the US-China Economic and Security Review Commission: “I fear the Wall Street crowd that brought us the hi-tech bubble is now fast creating a new China bubble.” Of course, this time the losers would be U.S. investors, and the winners would be the Communists.
U.S. “hoping” for textile deal with Communists: Meanwhile, American negotiator David Spooner said he was hoping for “a long-time solution” (BBC) to the surge of Communist textile exports to the U.S. Communist textile exports rose dramatically after worldwide textile trade restrictions ended (fifth item), crowding out several nations who were supposed to benefit from the end of the trade curbs (fourth and second items).
Communists create internet addiction center: Communist China has created a center to address “internet addiction” (London Times). Left unsaid is the possibility that such a center can be a new front in the Communists’ battle against cyber-dissidents: the anti-addiction center is based in the Beijing Military Hospital. Communist China has already employed mental institutions against dissidents (fifth and fourth items).
Communist official admits telecommunications sector wastes $25 billion: Yang Xianzu, former head of China Unicom and currently a high-ranking cadre, acknowledged that the Communist-controlled telecommunication sector has wasted almost $25 billion “in useless construction projects” (United Press International via Washington Times).
On Communist China’s espionage and the Falun Gong War: In PDF form, here is the testimony of former Communist political consul Chen Yonglin before the House Int’l Relations Committee on the Communist espionage network in Australia and the U.S., and how the cadres use it to persecute Falun Gong practitioners outside Communist China.
Other commentary on Communist China: Lev Navrozov, Newsmax, has an excellent column in which he dissects Communist propaganda regarding Taiwan. The editors of the Epoch Times examine the Communists’ practice of “systematic brainwashing of children” into the Party’s Youth League and Young Pioneers groups.