Новости за 18.08.2015

On Aug. 1, China’s People’s Liberation Army celebrated its 88th anniversary. But the country’s 2.3 million soldiers have little to cheer about. On the eve of the anniversary, the PLA’s former top general, Guo Boxiong, was unceremoniously booted out of the Communist Party and handed over to military prosecutors to face corruption charges, including allegations that he took large bribes from fellow PLA officers in exchange for promotions. And Guo will not be the last PLA officer to face such charges. Читать дальше...

The most shocking thing about the world's reaction to China's decision to devalue the yuan was that anyone should have been surprised. For those who have watched China's deteriorating economic growth since late 2014 and the ineffectiveness of monetary easing by the People's Bank of China, the country's central bank, currency devaluation appeared to be not only logical, but also inevitable.