China has surrounded Taiwan with its military

Posted earlier:

• China ramping up military drills in the Taiwan Strait, and all around the island

This is related to Chinese military’s Eastern Theatre Command “Joint Sword-2024B” drills.

Communist party ruled mainland China has the small democratic country surrounded, as shown by the from Chinese media:

If only the Chinese Communist Party put as much effort into freeing up its citizens and economy!

Over the weekend were more disappointments out of China:

• China offers few details on stimulus in Saturday’s press conference
• Four of China’s biggest state-owned banks confirm mortgage rate cuts, beginning October 25
• China September CPI rate fell below August and below expectations. PPI slumped further.

If there was a bright spot for the economy it was the statement from finance minister Lan Fo’an that the government will significantly increase the debt ceiling to swap local governments hidden debt, to reduce their financial burden and allow them to allocate more resources towards economic development. Local governments have been under pressure to reduce their debt. This should allow them to boost debt and investment.

This article was written by Eamonn Sheridan at www.forexlive.com.