Dog Brothers Public Forum

HOME | PUBLIC FORUM | MEMBERS FORUM | INSTRUCTORS FORUM | TRIBE FORUM

Welcome, Guest. Please login or register.
December 09, 2016, 11:12:18 PM

Login with username, password and session length
Search:     Advanced search
Welcome to the Dog Brothers Public Forum.
98823 Posts in 2346 Topics by 1082 Members
Latest Member: James
* Home Help Search Login Register
+  Dog Brothers Public Forum
|-+  Politics, Religion, Science, Culture and Humanities
| |-+  Politics & Religion
| | |-+  US-China (& Japan, South China Sea-- Vietnam, Philippines, etc)
« previous next »
Pages: 1 ... 8 9 [10] Print
Author Topic: US-China (& Japan, South China Sea-- Vietnam, Philippines, etc)  (Read 80598 times)
Crafty_Dog
Administrator
Power User
*****
Posts: 38292


« Reply #450 on: December 06, 2016, 01:31:28 AM »

BTW, apparently last week the Chinese flew nuclear capable planes around Taiwan.
Logged
G M
Power User
***
Posts: 14096


« Reply #451 on: December 06, 2016, 08:02:20 AM »

BTW, apparently last week the Chinese flew nuclear capable planes around Taiwan.

I am assuming the Obama administration sprung into action at this provocative act towards a country we are obligated to defend.

Perhaps a red line was drawn?
Logged
DougMacG
Power User
***
Posts: 8404


« Reply #452 on: December 06, 2016, 09:18:48 AM »

BTW, apparently last week the Chinese flew nuclear capable planes around Taiwan.
I am assuming the Obama administration sprung into action at this provocative act towards a country we are obligated to defend.
Perhaps a red line was drawn?

Right.  And what is the evidence that China walks on eggshells worrying what the US (Pres. Obama) thinks about their every provocative move?

It was a phone call.  Marc Thiessen, Washington Post, also thought it was brilliant.  Just saying, under new management shortly.
https://www.washingtonpost.com/opinions/trumps-taiwan-call-wasnt-a-blunder-it-was-brilliant/2016/12/05/d10169a2-bb00-11e6-ac85-094a21c44abc_story.html?utm_term=.f9d0f781699f
Logged
G M
Power User
***
Posts: 14096


« Reply #453 on: December 08, 2016, 08:31:34 PM »

http://www.scmp.com/news/hong-kong/economy/article/2053045/beijing-takes-aim-macau-gaming-industry-cut-currency-flight

Beijing takes aim at Macau gaming industry to cut currency flight
Move to slash in half the amount China UnionPay bank card holders can withdraw from ATMs in enclave expected to take effect Saturday

Beijing is about to turn its guns back on the gaming industry in its battle against the multi-billion-yuan outflow of capital from its economy as Macau prepares to slash in half the amount of cash China UnionPay bank card holders can withdraw from ATM machines in the city.
The move to cut the daily withdrawal limit from 10,000 to 5,000 patacas is expected to take effect from Saturday and follows the discovery that as much as 10 billion patacas in China UnionPay ATM withdrawals were made in one month alone.
It also comes amid so far unanswered claims that the customer voucher scheme run by Marina Bay Sands casino resort in Singapore – which apparently allows China UnionPay card users to buy gaming chips in breach of China’s strict currency controls – has seen billions of yuan flow out of the mainland.
The Monetary Authority of Macau’s ATM withdrawal cut is understood to be a reaction to attempts by illicit money movers to circumvent Beijing’s move at the beginning of this year to cap at 100,000 yuan (HK$112,600) the annual amount that UnionPay card holders could withdraw.


China backflips on currency policy with controls to stem yuan’s outflow

The Monetary Authority declined to answer questions from the Post.
A Macau finance industry insider told the Post: “What has happened is that individuals are turning up at ATM machines with stacks of cards from individual account holders and are withdrawing 10,000 a time.
Macau prepares to slash in half the amount of cash China UnionPay bank card holders can withdraw from ATM machines in the city. Photo: REUTERS
“The authorities have decided it is time to act and Beijing is backing the move.’’
Two years ago, Beijing put the squeeze on the multi-billion yuan flow of illicit cash through Macau by imposing a crackdown on the use of UnionPay point of service machines, which were being used to disguise overseas transactions as local mainland ones.
It also cracked down on the practice of pawnshops paying cash for products such as jewellery and watches bought with UnionPay cards to subvert currency controls.
The pressure appears to have had a possible knock-on effect in other casino jurisdictions like Singapore.
Macau to become a centre for yuan settlement, Chinese Premier Li Keqiang confirms

An investigation by the Post has uncovered claims that a voucher scheme operated by Marina Bay Sands casino resort in the Lion City could be an attempt to get around China’s currency controls. The scheme allows certain customers using UnionPay cards to exchange vouchers for casino chips in apparent contravention of the terms and conditions of use of the UnionPay cards.
By press time Thursday night, Marina Bay Sands – which had defended the practice – Singapore’s Casino Regulatory Authority and China UnionPay had not responded to questions from the Post about the scheme.
Gamblers are using more complex methods to circumvent Beijing's attempts to stop mainland money being gambled in Macau
Macau political commentator Sonny Lo said: “At the end of the day, national security is at stake for Beijing when it comes to the integrity of their currency and its outflow in massive amounts. This is what is behind these increasing moves by Beijing to stem capital outflow.”

The latest moves follow a fall in China’s foreign ­exchange reserves in November despite Beijing’s attempts to close the door on ­capital outflows.
The larger-than-expected decline in the world’s biggest stockpile of foreign exchange exposed the flaws in Beijing’s current ­approach of selling state reserves to support the yuan and was likely to force the authorities to take a stricter line on outbound investment and payments, analysts said.
The reserves shrank by US$69.1 billion last month to US$3.052 trillion, according to data released by the People’s Bank of China. The mainland has lost nearly US$1 trillion worth of reserves since the figure peaked in June 2014.
Documents obtained earlier by the Post show capital outflow controls are already in force involving forex clearance for outbound investment of more than US$5 million, plus stricter reviews in place over very large deals. Both outbound investment and these mega deals are set to limit the speed and size of capital flow.

Additional reporting by Gary Cheung and Wendy Wu
Logged
Pages: 1 ... 8 9 [10] Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.21 | SMF © 2015, Simple Machines Valid XHTML 1.0! Valid CSS!