CN Insect Queen (Huawei exec) arrested by Canada - The China hive is swarming mad

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This is actually pretty serious, with long term ramifications that the Trump administration has clearly thought through fully. By arresting the CFO and heiress of China premier tech company, the US Guaranteed to accelerate a trading split with the Chinese. US Executives would be well advised to not travel to China. A retaliatory arrest is almost certain.

https://www.cnn.com/2018/12/09/tech/huawei-cfo-china-summons-ambassador/index.html

Beijing (CNN)The Chinese Foreign Ministry is summoning the Canadian ambassador to China to address the detention of a Huawei executive in Vancouver, describing it as "lawless" and "extremely vicious."

The tech giant's chief financial officer, Meng Wanzhou, was arrested December 1 and faces extradition to the United States, where she is accused of helping Huawei circumvent US sanctions on Iran.
In a statement Saturday, the vice minister of the Chinese Foreign Ministry Le Yucheng said the arrest "severely violated the Chinese citizen's legal and legitimate rights and interests, it is lawless, reasonless and ruthless, and it is extremely vicious."

The statement summons Canadian ambassador to China John McCallum to address Meng's detention.
China strongly urges Canada to "release the detainee immediately and earnestly protest the person's legal and legitimate rights and interests, otherwise it will definitely have serious consequences, and the Canadian side will have to bear the full responsibility for it," Yucheng said in the statement.
Arrest warrant issued in August

Meng is believed to have helped Huawei circumvent US sanctions on Iran by telling financial institutions that a Huawei subsidiary was a separate company, Canadian prosecutors said at a hearing Friday to determine whether Meng should be released on bail.
Her lawyer said that she has ties to Canada and is not a flight risk. The judge, after hearing arguments from Meng's lawyer and prosecutors, did not rule on bail. The hearing will resume Monday at 1 p.m. ET.

Previously, details surrounding why Meng, 46, had been detained were limited due to a press ban. A judge had accepted Meng's request to bar both police and prosecutors from releasing information about the case prior to the hearing. The ban was lifted on Friday.

A judge in the US District Court for the Eastern District of New York issued a warrant for Meng's arrest on August 22, it was revealed at the hearing Friday. She was arrested on December 1.
Huawei 'not aware of any wrongdoing'

Earlier this week, Huawei said Meng was detained by Canadian authorities on behalf of the United States when she was transferring flights in Canada.

In a statement after Friday's hearing in Canada, Huawei said: "We will continue to follow the bail hearing on Monday. We have every confidence that the Canadian and US legal systems will reach the right conclusion."

The company has said it was "not aware of any wrongdoing by Ms. Meng" and that it "complies with all applicable laws and regulations where it operates."

In addition to her role as CFO, Meng serves as deputy chairwoman of Huawei's board. She is the daughter of Huawei's founder, Ren Zhengfei.

Meng's attorney said she would not breach a court order because doing so would embarrass her personally, and would also humiliate her father, Huawei and China itself. He added that the case against Meng had not been fully laid out, even though the US had signed off on her arrest warrant months ago.

"This isn't some last minute thing," he said.

Meng did everything she could to be transparent with Huawei's banking partners, and the company always worked to ensure its compliance with sanctions law, her lawyer continued.

Arrest came as US and China reached trade truce
Huawei is one of the world's biggest makers of smartphones and networking equipment and one of China's best-known companies. It is central to the country's ambitions to become a tech superpower.

But concerns that Huawei devices pose national security risks have hurt its ability to grow abroad.
The company has been repeatedly singled out by officials in the United States. US intelligence agencies have said American citizens shouldn't use Huawei phones, and US government agencies are banned from buying the company's equipment.

Huawei is a "bad actor," White House trade adviser Peter Navarro told CNN on Friday.
Navarro admitted that is was "unusual" that Meng's arrest came just as US President Donald Trump and Chinese President Xi Jinping reached a trade truce in Argentina, but said the government's actions are "legitimate."

"Let's look at what the indictment says and let the [Justice Department] do its thing," he said.
CNN's Yong Xiong reported from Beijing and Susannah Cullinane wrote from Auckland. CNN's Julia Horowitz contributed to this report.
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Hmmm? That is a remarkably swift and effective way to indirectly dissincentivize US and Canadian companies from getting involved in China and allowing technology transfers. Would you want to be a US Executive in China right now? Would you consider giving them your tech or money?
 
Porque no los dos? said:
Oh no, will China pull a Saudi move and call back all the migrant students??

Hell, that would make housing in big cities affordable again.
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Funnily enough, this is what has the Chinese so over a barrel. Because so much of their economy is still owned by the State, the only asset well to do chinese can invest their money into is property. Foreign property is especially valued as the local shit is literally shit. Canada in particular is a country that has invited much of this "investment", and so many of the Chinese elites (Xi included I am sure) are balls deep into western Canadian property. Its going to be hard to withdraw from that either without significant pain.

As for Canada, they are caught between the fire and the flood. They can either piss off America or piss off China. When both outcomes are bad, you need to choose the least bad choice. Pissing off China will hurt, but America is much closer and Trudeau has like a fool spent all his political capital with Washington DC on meaningless virtue signals about migration, climate change and international trade. He's got zero pull and a ton of enemies in the US Administration. Fucking MEXICO is on better terms with Washington DC then Canada right now. So Trudeau will cuck to Washington DC. Its what he does, and this time he has no choice.
 
mindlessobserver said:
Funnily enough, this is what has the Chinese so over a barrel. Because so much of their economy is still owned by the State, the only asset well to do chinese can invest their money into is property. Foreign property is especially valued as the local shit is literally shit. Canada in particular is a country that has invited much of this "investment", and so many of the Chinese elites (Xi included I am sure) are balls deep into western Canadian property. Its going to be hard to withdraw from that either without significant pain.

As for Canada, they are caught between the fire and the flood. They can either piss off America or piss off China. When both outcomes are bad, you need to choose the least bad choice. Pissing off China will hurt, but America is much closer and Trudeau has like a fool spent all his political capital with Washington DC on meaningless virtue signals about migration, climate change and international trade. He's got zero pull and a ton of enemies in the US Administration. Fucking MEXICO is on better terms with Washington DC then Canada right now. So Trudeau will cuck to Washington DC. Its what he does, and this time he has no choice.
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It gets better. Fucking
Mexico is on better terms with Washington, and their President is an openly Marxist Chavista!
 
right now, the biggest enemy to china's rise is information. the more the world learns about the inner workings of china, the better. this case will absolutely provide a window into the bed of snakes that is the CCP and China tech giants that should make anyone think twice about investing in china before they get their shit together.
 
Ineedahero said:
Why is she called the insect queen? How am I the first person to ask this?
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It is a reference to the played-out meme that the Communist Chinese are a hivemind of collectivist drones with no individuality or souls.
 
mindlessobserver said:
Funnily enough, this is what has the Chinese so over a barrel. Because so much of their economy is still owned by the State, the only asset well to do chinese can invest their money into is property. Foreign property is especially valued as the local shit is literally shit.
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That's because real countries like the U.S. and Canada (the U.S. especially) have a deep rooted respect for property that is even written into the Constitution. You can buy land in China and then have the government decide to build some huge dam project and just destroy it with no compensation whatsoever. So naturally they don't want to buy worthless Chinese land in a country where property just isn't really a thing, or at least not a thing you can count on.

Fuck their shit country, fuck their criminal executives, and fuck Mao.

That said this could set off a huge trade war and nuke the global economy, but oh well. Also they're not upset the phones probably have spyware on them, they're just mad it's not American spyware.
 
AnOminous said:
That's because real countries like the U.S. and Canada (the U.S. especially) have a deep rooted respect for property that is even written into the Constitution. You can buy land in China and then have the government decide to build some huge dam project and just destroy it with no compensation whatsoever. So naturally they don't want to buy worthless Chinese land in a country where property just isn't really a thing, or at least not a thing you can count on.

Fuck their shit country, fuck their criminal executives, and fuck Mao.

That said this could set off a huge trade war and nuke the global economy, but oh well. Also they're not upset the phones probably have spyware on them, they're just mad it's not American spyware.
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Not even the government proper exercising eminent domain. Because of their especially corrupt model of state capitalism, the real estate developers are always deep in bed with the local CCP cadres, so entire villages with populations in the thousands regularly get bulldozed without compensating a single resident to make room for mega-malls and luxury highrises, whose developers and investors ensure that the CCP gets kickbacks and bribes aplenty. The phenomenon of so-called "nail houses" and recent peasant rebellions in Wukan and other small villages is closely tied to this kind of abuse of eminent domain.

But the big reason the more clever of the wealthy Chinese don't invest in their own domestic real estate market is the looming prospect of the bubble bursting. It's plain to everyone over there that the real estate market is a total sham, with all new construction paid for by state subsidies since five years now. The rate of growth in their real estate market has not slowed, but none of it is organically driven. The actual demand for housing and commercial real estate has long since been met and overwhelmingly surpassed, but the Chinese government keeps paying the state and privately owned construction firms to continue building ghost cities in the middle of nowhere because the industry directly and indirectly employs hundreds of millions and because new construction accounts for such a huge share of GDP growth, which they are under the strictest of orders to maintain at its current pace. Right now they are fortunate that the speculative investors are still gobbling up new projects and properties due to the glut of capital they are enjoying, but when the money dries up, the bubble is going to burst, and the smart people over there know it's just a matter of time. Their stock market is literally rigged by the government, too, so the only safe place for Chinese to invest their capital is overseas.
 
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millais said:
Not even the government proper exercising eminent domain. Because of their especially corrupt model of state capitalism, the real estate developers are always deep in bed with the local CCP cadres, so entire villages with populations in the thousands regularly get bulldozed without compensating a single resident to make room for mega-malls and luxury highrises, whose developers and investors ensure that the CCP gets kickbacks and bribes aplenty. The phenomenon of so-called "nail houses" and recent peasant rebellions in Wukan and other small villages is closely tied to this kind of abuse of eminent domain.

But the big reason the more clever of the wealthy Chinese don't invest in their own domestic real estate market is the looming prospect of the bubble bursting. It's plain to everyone over there that the real estate market is a total sham, with all new construction paid for by state subsidies since five years now. The rate of growth in their real estate market has not slowed, but none of it is organically driven. The actual demand for housing and commercial real estate has long since been met and overwhelmingly surpassed, but the Chinese government keeps paying the state and privately owned construction firms to continue building ghost cities in the middle of nowhere because the industry directly and indirectly employs hundreds of millions and because new construction accounts for such a huge share of GDP growth, which they are under the strictest of orders to maintain at its current pace. Right now they are fortunate that the speculative investors are still gobbling up new projects and properties due to the glut of capital they are enjoying, but when the money dries up, the bubble is going to burst, and the smart people over there know it's just a matter of time. Their stock market is literally rigged by the government, too, so the only safe place for Chinese to invest their capital is overseas.
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And the worst punchline to this? The current US President is an executive of a company that specializes in the Property market. Trump knows exactly what China's position right now is and he knows he has them dead to the rights. The CIA's dick is absolute diamonds right now over the thought of this lady ending up in federal custody. She will know everything about the Chinese governments tech policy. What the backdoors are, what the spyware is, what the long term plan for all of it is. If anything good comes from the Trump administration, it will be calling China's bluff 20 years before they actually gained a good hand. I have to wonder if Taiwan is not actually whispering into the ears of people in DC atm. They were a huge focus leading up to the inauguration and suddenly everyone has been zipper lips about Taipei.
 
xxXDxx said:
Canada should publicly execute her for communistic tendencies. Then China will see what "disrespecting human rights" looks like.
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And it should be done the same way the piss monkey wumao fucks did the protestors in Tianamen Square, light that bitch up with 30mm anti aircraft shells and then send the bill to her family for the cost of the shells as well as the imminent cleaning of the remains if any.
 
mindlessobserver said:
Funnily enough, this is what has the Chinese so over a barrel. Because so much of their economy is still owned by the State, the only asset well to do chinese can invest their money into is property. Foreign property is especially valued as the local shit is literally shit. Canada in particular is a country that has invited much of this "investment", and so many of the Chinese elites (Xi included I am sure) are balls deep into western Canadian property. Its going to be hard to withdraw from that either without significant pain.

As for Canada, they are caught between the fire and the flood. They can either piss off America or piss off China. When both outcomes are bad, you need to choose the least bad choice. Pissing off China will hurt, but America is much closer and Trudeau has like a fool spent all his political capital with Washington DC on meaningless virtue signals about migration, climate change and international trade. He's got zero pull and a ton of enemies in the US Administration. Fucking MEXICO is on better terms with Washington DC then Canada right now. So Trudeau will cuck to Washington DC. Its what he does, and this time he has no choice.
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Local property? In China? You do realize not a single person in the People's Republic has deed to any piece of land since due to Chairman Mao ALL land is state property, and everyone in China leases their land from the a government for a maximum of 70 years making real estate effectively impossible to invest in in mainland China.
 
Ineedahero said:
I wanted her to just be a lady covered with bugs, with bugs in her hair and on the her face and arms and crickets flying out of her mouth, but apparently that's too much to ask.
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Yeah, I just want her to be super into big type Pokemon.
 
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