China's National Security Agency Assumes Financial Oversight to Avert 'Large-Scale Crisis': AnalystNews Analysis China’s Ministry of State Security (MSS) has expanded its powers to become the new leading force in maintaining financial stability amid an economic slowdown. This means that under Chinese leader Xi Jinping, the Chinese Communist Party (CCP) will further increase its control over the country’s financial sector—a role that the State Council previously held—to prevent a “large-scale crisis,” according to a China observer and financial analyst. Averting ‘Large-Scale Crisis’ On Oct. 30-31, the CCP held its Central Financial Work Conference—the highest-level meeting of China’s financial system—in Beijing, which all members of the Politburo Standing Committee attended. The State Council convened the event in the past, and the meeting was previously called the “National Financial Work Conference.”...

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Major Shakeup in Chinese State Council Preceded Li Keqiang's DeathOn Oct. 27, the Chinese Communist Party (CCP) announced the passing of Li Keqiang, the former premier of the CCP. The official statement indicated that Li suffered a fatal heart attack while swimming during a visit to Shanghai. A ceremony honoring the 68-year-old took place in Beijing on Nov. 2, the same day his body was cremated. The sudden demise of Li Keqiang, coupled with his swift cremation, has ignited global speculation about whether foul play may have been involved. The untimely event coincided with the ongoing purging of disloyal CCP members, concurrent with the replacement of Li’s appointees to key ministerial positions within China’s State Council....

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Biden Admin Seeks to 'Deepen Bilateral Communications' with China: YellenChina’s communist regime is training and equipping foreign militaries to strengthen its position and undermine U.S. influence, according to a new congressional report. The regime is also engaged in selling arms to internationally sanctioned nations, including state-sponsor of terrorism Iran, according to the 2023 annual report of the U.S.-China Economic and Security Review Commission (USCC), released on Nov. 14. China’s efforts are part of a broader strategy to replace the United States and “lead the global security order,” according to the report. “China’s leadership coordinates a range of military activities with foreign security forces, including bilateral and multilateral meetings, functional exchanges, port calls, exercises, and arms sales,” the report says....

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China Charging, Americans PayingCommentary The long-ago-discredited “mixed economy” practice of  “industrial policy” is when the state, in its infallible wisdom, decides which capitalist ventures are going to be successful, and pours prodigious amounts of the taxpayers’ hard-earned cash into them, the most infamous example being Japan’s Ministry of International Trade and Industry (MITI). The late economist Charles Schultze, who held top jobs in the Kennedy, Johnson and Carter administrations, understood the foolishness of industrial policy and illustrated the absurdity of a government bureaucracy picking private-sector winners and losers in a Brookings Institution paper. Mr. Schultze pointed out how MITI “tried very hard—and, as is evident, to no avail—to keep Honda out of the automobile business.” (It was thought back in the 1960s that consolidating Japanese auto production into several giant companies was wise.)...

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