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Mike Norman Economics

Zero Hedge — Wilbur Ross Says US Revokes Hong Kong’s Special Status

Bites off nose to spite face. ?The West needs favored access to Hong Kong much more than China. That did not used to be case, but the importance of Hong Kong to China has declined dramatically. The result of this will be the gradual decline of Hong Kong as a player and the rise of mainland Chinese trading and financial centers.More significantly, China has shut the door to easy access by foreign intelligence and political influencers.In the longer run, rupture from the West will be...

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Sputnik — UN Declares ‘Massive Rise’ in Hunger Spikes as WHO Warns Pandemic ‘Not Close to Being Over’

The pandemic seems to be accelerating — Global R (reproduction value) increasing — rather than stabilizing or declining. In a Monday news release, the WFP warned that tens of millions of people will most likely go hungry this year due the COVID-19 pandemic. The agency’s estimates show that around 270 million people will face food insecurity before the year ends, which represents an 82% increase from before the pandemic swept across the globe.... Sputnik InternationalUN Declares ‘Massive...

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SouthFront — Russia Experimented With “Swarm” Battle Formation Of Su-35 Jets, Led By Su-57 Fighter Jet

Swarm is the future. He added that similar work is being carried out by the United States of America, in particular for its F35 fighter jets. In addition, Murakhovsky said, so far neither Russia nor the United States have been able to build such a unified information system for managing all types of troops due to difficulties in creating a single data format for different types and branches of the armed forces. The operative term is "information system."SouthFrontRussia Experimented With...

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China-based TikTok and other apps are banned in India following border conflict — Lydia Dishman

National security concerns are cited for the reason the Indian Ministry is shutting down access to 59 Chinese apps. TikTok, ShareIt, WeChat, and 56 other Chinese apps have been banned in India over what the government called national security concerns. Further splintering of the global Internet as globalization reverses gear. Fast CompanyChina-based TikTok and other apps are banned in India following border conflict Lydia Dishman

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Chinese Oil Majors Could Form A Powerful Buyers Club — Irina Slav

China’s state-owned oil companies—Sinopec, CNOOC, PetroChina, and Sinochem—are discussing an arrangement to buy crude oil together instead of individually, to avoid bidding wars and gain more bargaining power, unnamed sources in the know told Bloomberg. The group has already secured the support of the central government and its first step as a collective buyer would be to bid on Russian and African oil cargos on the spot market, the Bloomberg sources said. If the group bidding pans out,...

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