1/27/2021 Financial News: Running Out Of Food In Lockdown City; Home Purchase Tax Loans Are Urgently Suspended

Image source: https://economictimes.indiatimes.com/

【International News】

  1. EU Lawmakers Want Amazon, Apple, Facebook, Google CEOs At Feb. 1 Hearing

EU lawmakers have invited the chief executives of Amazon, Apple, Facebook and Alphabet to a Feb. 1 hearing in Brussels as they try to crack down on the powers of U.S. tech giants.

The European Parliament will in the coming months provide input into proposals by the European Commission to force the companies to play fairly with rivals and to do more to tackle online fake news and harmful content or face hefty fines.

  1. Biden Can Forge Bipartisan Cooperation with a Bold Infrastructure Program

President Joe Biden will not get all of his proposed $1.9 trillion stimulus program in a tightly divided Congress. However, a bold infrastructure program offers Biden an opportunity to forge unity.

The American Society of Civil Engineers estimates congestion on roads, rails, and elsewhere imposes $400 billion a year in lost productivity, and a 10-year $2 trillion program is needed to bring transportation systems and other infrastructure up to snuff.

Before the CCP virus meltdown, New York City’s slow, crowded and moribund subway system was estimated to need $40 billion to rehabilitate it to the standards of the London and Paris systems but budgeted only $800 million for upgrades.


  1. The Global Semiconductor Industry Chain is heavily relying on Taiwan

Recently, the shortage of automotive chips has caused auto manufacturers to reduce production. The United States, Japan, Germany and other countries have turned to Taiwan for assistance, hoping that TSMC and other companies will increase production.

As automakers such as Volkswagen AG, Ford Motor Co., and Toyota Motor Corp of Japan are forced to suspend production and shut down their factories, the importance of Taiwan can no longer be ignored who owns the world’s most advanced fabs. What is more worrying is that if Communist China’s threat of invading Taiwan comes true, TSMC’s fabs may also suffer.


【True Economy Inside Communist China】

  1. House Purchase Tax Loans for Shanghai Area Are Urgently Suspended

Industrial and Commercial Bank of China (ICBC)’s installment loan products, which was used to pay taxed and fees in the purchase of personal first-hand, second-hand and foreclosure properties (except for commercial use) in Shanghai area, were completely suspended. According to the investigation by the Financial Association, the bank did not completely suspend personal home loans, and some branches could still lend, but the lending time was significantly prolonged.


  1. The Price for Condiments and Sauces Is Rapidly Growing in Communist China.

In 2020, the overall growth rate of condiments exceeded 25%, and the overall stocking volume for the Spring Festival this year increased by more than 30% over the same period last year.

According to an interview, a manager from a famous pickled vegetables factory said:” This year’s production is very busy and now our production plan has reached the end of January. In previous years, the peak season was from January to February and May to September, and the rest were off-season. This year may be the peak season throughout the year.”

Opinion: With the shortage of food supply, especially meat supply in Communist China, pickled vegetables may become more common to see in Chinese’s dining table.


【Pandemic Express】

  1. Running Out of Food in Communist China’s City Due to Lockdown

According to announcement from Commmunist China ‘s National Health Commission, Jilin province reported 67 CCP virus cases on Jan. 24, 56 of them are in Tonghua, a city of more than 2 million people

Large number of residents in Tonghua faced a sudden lockdown on Jan. 18 and were not allowed to leave their homes, venting their frustration on social media over a shortage of groceries, a rise in food prices and a lack of medicines. They complained on a blogging platform: “Our community and doors have been sealed off, and I was stopped at the gate by a volunteer when I want to throw garbage. There is almost no food at home, the hotline is set up but no one answers the phone.” “We Tonghua people weren’t knocked down by the virus, but by hunger and basic illnesses.” wrote one blogger.

Opinion: Never believe CCP’s fake data of confirmed cases. Can you believe that 56 cases can cause lockdown of such a big city? It can only indicate the situation is worse and affected cases are exceeding what you expected.


  1. CCP Virus in Shanghai is Worsening, Discharged Patients Were Tested Positive After Recovering

The CCP virus in Shanghai continues to worsen. The latest pandemic has extended from Huangpu District, Baoshan District to Changning District, and confirmed cases have been reported in the places involved, including communities and health centers.

In addition, the Shanghai Municipal Health Commission revealed on Jan 25 that more than 30 cases of discharged patients that were tested positive after recovering have been found in Shanghai during the 14-day quarantine period.


By 【Financial Team】

News Collection: Totoro 、文罡、Wendy
Translation & Writer: Tracy
Proofreading: 小蚂蚁在行动

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