News that caught our eye / The week ending February 10th
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NOTE: The news reports below are not in chronological order. There is often a time lag in their reaching the US and in gaining our attention. These reports reflect the opinions of a variety of news sources.
US downs Chinese balloon, drawing a threat from China / February 4, 2023
After the US shot down the Chinese surveillance balloon on Saturday, China criticized the US for taking such actions and escalating tensions between the two countries. Secretary of State Antony Blinken canceled his planned trip to China, and China threatened to take action for the loss of the balloon (AP News).
China experts predict Beijing’s next move after spy balloon shot down / February 4, 2023
Specialists on China made predictions about China’s reaction to the surveillance balloon shot down on Saturday, including China shifting blame to the US to save face, but not likely to take any aggressive action in the short term. However, one specialist cautioned that China may increase its aggression toward Taiwan (Fox News).
The spy balloon drama from inside China / February 7, 2023
While many Americans expressed alarm at China’s surveillance balloon flying across the US last week, many Chinese citizens wondered why there was so much alarm over a weather balloon, reflecting the message both have received via the media and government propaganda. The distrust between the two countries continues to grow (Axios, Article 2).
China’s Debt Hangover / (Accessed on February 6, 2023)
Local governments across China have mismanaged their finances for years. Now with the negative impact of both Zero Covid and the crashing property prices, their finances are in dire shape. The central government is trying to fix this, but that is creating additional problems (MacroPolo).
China Moves From Contrite to Confrontational Over US Balloon / February 5, 2023
Last Friday, China expressed “regret” over the surveillance balloon entering US airspace, but once the balloon was shot down, the rhetoric from Beijing grew cold and threatening as President XI sought to appear strong before his own party and people. The situation challenges the countries’ efforts at reconciliation (Bloomberg).
China surpasses US in number of ICBM launchers / February 7, 2023
In its efforts to modernize its nuclear weapons program, China now has more ICBM launchers than the US has, according to a US “watchdog” of nuclear arsenals. Republicans want the US to quickly increase its nuclear capabilities while Democrats caution that launchers are just one part of a nuclear program (Defense News).
‘The worst is over’: Tech investors are bullish on investing in China again / February 6, 2023
Unless a new Covid variant surges across China and threatens the economy, investors indicate that China’s economy is ready to rebound and that it is safe to invest again. They don’t see the CCP putting restrictions on the market since an economic revival benefits everyone, including the government (CNBC).
“Socialist Spiritual Civilization”: The Great Comeback of an Old CCP Concept / January 31, 2023
As former CCP leaders like Deng Xiaoping modernized Chinese society, they realized that atheistic communism and increasing wealth left a spiritual and moral void. In response, they promoted a vague “spirituality” that still was ineffective. President Xi is attempting the same, emphasizing China’s ancient history and recent Communist history as sources for spiritual fulfillment (Bitter Winter).
Deepfake 'news anchors' appear in pro-China footage on social media / February 8, 2023
AI technology is now able to create fake news broadcasts using computer-generated avatars of actors acting as news reporters. Two such “broadcasts” peddling pro-China propaganda were found on social media recently; their technical and content quality made them easy to identify. Technical advancements could be a future concern (ABC News).
Chinese balloon part of worldwide fleet, US officials say / February 8, 2023
US officials are postulating that the surveillance balloon shot down last week off the Carolina coast was part of a “fleet” of balloons that have also flown over South America, Europe, and Asia. They also suspect that such balloons have flown over the US at least four times (BBC News).