My Writings. My Thoughts.
Wednesday August 26, 2015
// August 26th, 2015 // Comments Off on Wednesday August 26, 2015 // Daily News
Republicans line up to take potshots at China
When Chinese President Xi Jinping arrives in Washington next month for his first state visit to the US, he will be jumping into the kind of political cauldron the Communist party does not tolerate in China.
As Beijing struggles to contain the market crash, Republican presidential contenders are taking pot shots at the Chinese leader. Scott Walker, the Wisconsin governor, this week urged President Barack Obama to rescind his invitation to Mr Xi.
“Americans are struggling to cope with the fall in today’s markets, driven in part by China’s slowing economy and the fact that they actively manipulate their economy,” Mr Walker said.
“Rather than honouring Chinese President Xi Jinping with an official state visit . . . President Obama should focus on holding China accountable over its increasing attempts to undermine US interests.”
Mr Walker was following on the heels of Donald Trump, the bombastic real estate magnate leading the Republican polls, who took a break from attacking illegal immigrants to aim his wrath at China.
In addition to saying he would serve Mr Xi a Big Mac to protest against the recent Chinese currency devaluation, Mr Trump tweeted: “Markets are crashing — all caused by poor planning and allowing China and Asia to dictate the agenda.”
China has long served as a bogeyman in US presidential elections. Whether Bill Clinton referring to the “butchers of Beijing” in reference to the Tiananmen Square massacre, George W Bush attacking Mr Clinton for being soft on China or Mr Obama touting the need for alliances to challenge Beijing, US presidential contenders have long lambasted China while vowing to take a tougher stance than the White House incumbent if elected president.
But some analysts say China is sparking a different degree of anger now for several reasons: its growth as an economic power, its assertive actions in the South China Sea, rampant cyber attacks, theft of intellectual property rights and the creation of a climate that is less welcoming to foreign business.
Frank Jannuzi, president of the Mansfield Foundation, which promotes US-Asia relations, said there has been a bipartisan consensus since Richard Nixon went to China in 1972 that the US would profit by engaging the country. But he says the consensus has almost unravelled because companies have become “increasingly disenchanted” with China.
Today’s Inspiration
Chosen and Adopted
by Joyce Meyer – posted August 26, 2015
Even as [in His love] He chose us [actually picked us out for Himself as His own] in Christ before the foundation of the world, that we should be holy (consecrated and set apart for Him) and blameless in His sight, even above reproach, before Him in love. For He foreordained us (destined us, planned in love for us) to be adopted (revealed) as His own children through Jesus Christ, in accordance with the purpose of His will [because it pleased Him and was His kind intent].
– Ephesians 1:4-5
You understand adoption in the natural sense. You know some children without parents are adopted by people who purposely choose them and raise them as their own. In the same way you have been chosen and brought into the family of God even though you were previously an outsider, unrelated to God in any way.
God in His great mercy redeemed you and purchased you with the blood of His own Son, and He has provided an inheritance that is wonderful beyond understanding. God has many good things in His plan for you so start expecting blessings!
Tuesday August 25, 2015
// August 25th, 2015 // Comments Off on Tuesday August 25, 2015 // Daily News
China has cut interest rates for fifth time in nine months
CNBC.com
China cut interest rates for the fifth time in nine months on Tuesday, in a new effort to shore up slowing economic growth.
The central bank said the benchmark rate for a one-year loan would be cut by 0.25 percentage point to 4.6 per cent and the one-year rate for deposits would fall by a similar margin to 1.75 percent.
The bank also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5 percentage point.
The moves had been anticipated by financial analysts after exports, manufacturing and other economic indicators weakened by larger margins than expected.
It comes at a time of extreme volatility for Chinese stocks, with the benchmark Shanghai Composite index closing down by 7.6 percent on Tuesday—at its lowest since December 2014.
“One of the few things we know about Chinese policy making is that they are not subservient to markets wishes, especially in terms of timing,” said BBH analysts led by Marc Chandler, in a note on Tuesday.
The central bank also shocked markets earlier this month by devaluing the Chinese yuan by nearly 2 percent against the U.S. dollar. The bank described this as a free market reform, but some analysts saw the agenda as currency depreciation with the intent of making exports more competitive.
Today’s Inspiration
You Are Secure
by Joyce Meyer – posted August 25, 2015
Lean on, trust in, and be confident in the Lord with all your heart and mind and do not rely on your own insight or understanding. In all your ways know, recognize, and acknowledge Him, and He will direct and make straight and plain your paths.
– Proverbs 3:5–6
Following God is not a part-time lifestyle. The Bible clearly teaches that we are to be cautious at all times because the devil looks for opportunities to devour us (see 1 Peter 5:8).
But God gives us grace to withstand the devil and to be firm in faith against his onset. You can be rooted, established strong, immovable, and deter¬mined, knowing that whatever you face today is identical to what Christians throughout the world are facing. And God Himself will complete you and make you what you ought to be. He will establish you and ground you securely, strengthen and settle you today (see vv. 9–10).