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Showing posts from August 31, 2015

US considering sanctions over Chinese cyber theft, says Washington Post

From Reuters)

The White House is considering applying sanctions against companies and individuals in China it believes have benefited from Chinese hacking of United States trade secrets, the Washington Postreported Sunday (Aug 30).


The White House is considering applying sanctions against companies and individuals in China over cyber theft

The newspaper, citing several unidentified Obama administration officials, said a final determination on whether to issue the sanctions was expected soon, possibly as early as the next two weeks.

Suspicions that Chinese hackers were behind a series of data breaches in the United States have been an irritant in relations between the world’s two largest economies as President Xi Jinping prepares to make his first visit to the United States next month.

Obama administration officials have said China is the top suspect in the massive hacking of a US government agency that compromised the personnel records of at least 4.2 million current and former government …

Welcome To The Trade Deal Wars

By Pepe Escobar

BANGKOK — China continues to grow at a not too shabby 7%. And yet, because of the yuan devaluation and the sharp drop in the stock market, in most Western capitals the narrative switched to Armageddon descended over an economic model that generated, over the years, six-fold growth in Chinese GDP.

Few are aware that Beijing, simultaneously, is engaged in a thrice titanic task; to shift its growth vector from exports and massive investment to services; to tackle the negative and/or self-satisfied role of state-owned enterprises; and to deflate at least three bubbles — debt, real estate speculation and the stock market — in the context of a virtual global economic stagnation.

All this while there is virtually no Western coverage of the China-led Eurasian trade integration push, which will help to eventually consolidate the Middle Kingdom as the largest economy in the world.

And that brings us to a crucial subplot in the Big Picture: Southeast Asia.

Four months from now, the 10…