⏩ Next: THE ALL NIGHTER Immediately Following Scheduled RNC Convention Coverage
✪ Back in April, Missouri attorney general Eric Schmitt, a Republican, filed a lawsuit charging that Chinese Communist officials are “responsible for the enormous death, suffering, and economic losses they inflicted on the world, including Missourians.” For Sen. Dianne Feinstein, the Missouri lawsuit was the problem…
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✪ A rising number of Chinese companies are considering delisting from the U.S. stock exchanges as Washington increases its crackdown on foreign companies that fail to comply with U.S. audit standards…
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✪ Over the past few months, the United States and China have clashed over technology, territory, economics, and political influence. The Trump administration has imposed a series of sanctions against the CCP’s mistreatment of the Ughurs in Xinjiang. The President has also signed the Hong Kong Autonomy Act, condemning the methodical dismemberment of Hong Kong’s democratic protests.
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America’s New China Policy In Two Words: Induce Change
✪ Two days after the United States ordered China to close its consulate at Houston within 72 hours, U.S. Secretary of State Mike Pompeo clarified the Trump administration’s foreign policy on China in a major speech on July 23. Because shutting down a country’s diplomatic mission is a very serious and provocative step, many wonder if the Sino-U.S. relationship is in free fall and what that could mean for the rest of the world. So Pompeo’s speech couldn’t have come at a better time.
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✪ In a fierce but very typically British exchange, BBC editor Andrew Marr grilled the nonchalant Chinese ambassador to Britain, revealing amateur drone videos showing chained people boarding a train flanked on both sides by black-armored troops. In a time when Department of Homeland Security agents are decried by the U.S. speaker of the House as stormtroopers for defending federal properties, videos from China show what a genuine totalitarian system looks like...
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✪ Social media-fueled rumors about banks collapsing are popping up at an unprecedented frequency in China, forcing regulators and even the police to step in to calm depositors. Public confidence in the $43 trillion banking system is eroding among the nation’s more than one billion account holders, threatening the cornerstone of China’s economy & rise to an economic powerhouse…
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Natural Disasters Rage Across China: Disease, Pestilence, Extreme Weather, Locusts & Flooding
✪ China, still grappling with the CCP virus pandemic, has been hit with wave after wave of natural disasters across the country. Weeks of torrential rainfall caused some of the worst flooding in decades, wreaking havoc in 26 provinces across central and southern China and disrupting the lives of more than 19 million, according to authorities. In recent weeks, hailstorms and earthquakes also struck parts of the country. Swarming locusts and animal-borne diseases were but the latest of the country’s woes.
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⏩ Next: AFTERNOON THREAD @ 14:00 PDT 🕑
✪ Fifty-three countries at the U.N. Human Rights Council, led by Cuba, came out in support of China’s National Security Law this week — a law that has formed the basis of the communist regime’s latest crackdown on the people of Hong Kong.
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Beijing’s top legislative body has unanimously passed a sweeping national security law for Hong Kong prohibiting acts of secession, subversion, terrorism and collusion with foreign forces to endanger national security. The law, approved by the National People’s Congress Standing Committee (NPCSC) on Tuesday, is expected to carry a maximum penalty of life in jail.
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The Digital Yuan And China’s Plan to Topple The U.S. Dollar
There are many qualified candidates for the title of second most consequential event of 2020, right after coronavirus and its associated worldwide economic implosion. The global reach of the George Floyd protests comes to mind, as does the still-unfolding China–India clash in the Himalayas. Perhaps North Korea or Iran will deliver another crisis unto the world. Possibly more deserving than any of these, however, is China’s planned rollout of its digital yuan, through which the Communist Party intends to upend the U.S.-led financial world order.
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