Homepage / Asia / China should be neutral if North Korea fires first on US: Global Times
Facebook slams former exec Palihapitiya, saying it 'was a very different company back then' 80% of Wall Street economists, strategists believe bitcoin is a bubble: Survey Facebook to book advertising revenue locally amid political pressure Strategist Tom Lee: Young people will drive bitcoin gains just as boomers boosted stocks in the '80s This founder started in his parents' garage—now his company does over $100 million a year Activision shares to get a boost from Overwatch, Diablo sequels, Goldman says Verizon will launch over-the-top service before year-end with NFL as key piece, analyst predicts Chamath Palihapitiya: Apple is 'no different than Louis Vuitton or any other luxury good' Passport's flagship fund to close after 'unacceptable' returns Apple's powerful new computer launches December 14 Despite a deluge of criticism, Mark Zuckerberg had a bountiful year Chamath Palihapitiya says Elon Musk is the 'most important entrepreneur of our generation' Senior Australian politician resigns over China ties scandal Forget bitcoin, one of its biggest cryptocurrency rivals is up nearly 5,800 percent this year Bitcoin futures fall on second day of trading on very low volume as interest wanes Bitcoin millionaire: Don't buy bitcoin Stocks making the biggest moves premarket: PEP, MAT, VZ, MYL & more Tech high flyers could soar 10% or more next year, investor Paul Meeks says Goldman Sachs predicts bumper returns for commodities next year Amazon is not a monopoly but there's no question why it's so dominant, tech investor Palihapitiya says Starbucks customer laptops hacked to mine cryptocurrency Fed Survey: Tax cuts and rate hikes on the way Social Capital's Palihapitiya says bitcoin is going to $1 million in the next 20 years Bitcoin bulls looking to diversify can now put money in a crypto-index fund Ex-Facebook executive Chamath Palihapitiya: Social media is creating a society that confuses 'truth and popularity' More American jobs? Broadcom deal might mean the opposite The bull case for gold as bitcoin captivates America One person reported dead after Austrian gas hub explosion Bitcoin bubble could lead to 'destructive' consequences, UBS says While you were watching bitcoin, the world’s second-largest cryptocurrency hit a big milestone French retail giant to buy mall operator Westfield in the biggest takeover of an Australian company ever Bitcoin futures launch is not taking away demand from gold, Goldman Sachs says Germany outpaces UK for commercial real estate investment, survey finds UK inflation comes in at 3.1 percent, highest since March 2012 Amazon expands its cloud presence in China as it battles the country's internet giants Robert Gates says a North Korean nuclear warhead will soon be an accepted reality European markets set to open higher as investors look ahead to Fed, ECB meetings Cryptocurrencies could be rocked by major hacks next year, expert warns Trump's 'ill-advised' move over Jerusalem has set back peace process, former secretary of defense says Four charts from Google make the argument for a growing, $50 billion e-commerce bloc Corporate deals slowed dramatically in 2017, but at least one country bucked the trend The 'alt-right' created a parallel internet. It's a holy mess Google eclipses Facebook as the top source of traffic for online publishers Cramer Remix: Acadia is the most volatile stock I’ve ever covered — and it’s worth speculating on Topgolf CEO sees 'real growth' in golf, says he's 'winning' with millennials Cramer: Auto parts stocks like O'Reilly wrongly sold off and are buys Asian markets look to follow Wall Street's strong lead, and New Zealand dollar firms Cramer tackles the question of why the market has been so positive for 2017 Electric vehicle demand is driving huge jump in number of battery factories around the world Bitcoin has aspects of a bubble, but it's OK to 'play' with it: Economist Robert Shiller Icahn wages new fight with Xerox with plans to nominate 4 to board Cisco CEO Chuck Robbins thinks he's finally found the key to growing in China Why Apple just spent up to $400 million on song-identification app Shazam Trump orders NASA to send American astronauts to the moon, Mars People are taking out mortgages to buy bitcoin, says securities regulator Here are JPMorgan’s favorite chip stock picks for the next year Ford says hybrids beat electric for self-driving cars Zuckerberg's purchase of Instagram was the perfect 'teen and millennial hedge' for Facebook Shares of retailer-turned-bitcoin-play Overstock.com rocket higher after Morgan Stanley reveals stake Amazon has sharply curtailed hiring in Seattle as it seeks second headquarters Start-up Fuzzy offers house calls for your pets for $468 a year Manufacturing CEO survey shows record high optimism on prospect of tax reform A top VC explains which technologies will change society the most in 10 years American Express is getting rid of signatures for credit card purchases Bitcoin futures up and running but trading is light Apple to buy music recognition app Shazam The smart play on bitcoin: Don't mine the gold, sell the picks and shovels Cramer: Bitcoin's futures launch is a 'very big victory' for the digital currency If Tim Cook is right about AR, Lumentum is a buy On Main Street the bigger you are, the better tax reform looks: CNBC/SurveyMonkey Ethereum creator compares crypto mania to world’s biggest art auction UBS: Cryptocurrencies like bitcoin are ‘the bubble to end all bubbles’ Google's high-end smart speaker, which rivals a Sonos, is now available Bitcoin futures launch could be bad for bitcoin’s price, tech analyst Gene Munster says Bank of America analyst predicts EA will bring back 'Star Wars' micro-transactions despite uproar European finance ministers call for US tax reform rethink Goldman upgrades ADP, says it will be 'outsized beneficiary' of GOP tax cuts iPhone X supply has improved, with most models now shipping in 2-5 days Former Facebook exec Chamath Palihapitiya says social media is ripping apart society Investors 'haven't missed the train' on bitcoin yet, but it could be a wild ride, analyst says Stocks making the biggest moves premarket: ADP, FIT, X, LKQ & more Vladimir Putin orders Russian forces to start pulling out of Syria NFL and Verizon strike a mobile deal to expand live game streaming Fueled by investor taste for liquid alternative investments, hedge fund conversions skyrocket Uber’s fight for survival in London is pushed to 2018 but another key Europe ruling is imminent Bitcoin price jumps $2,000 after Cboe futures launch Contenders emerge for the No. 2 Fed job as search narrows Investors are dumping gold to buy bitcoin, says strategist Currency expert says there's one fundamental reason behind bitcoin's runaway rally Global arms sales rise for first time since 2010 Trader who called bitcoin rally says cryptocurrency will surge above $100,000 in 2018 Chinese drone maker wants to fly people around, and it says it will turn a profit in two years European markets set to start week higher ahead of Fed, ECB meetings New Zealand's central bank just got a new governor How Chinese spies used LinkedIn to snoop on German politicians Instant noodle giant aims to boost paltry market share in China with healthy ramen Rohingya curries and Syrian sweets from refugees are making start-up a hit A Muslim country that isn’t even in the Middle East says it’s willing to send troops to Jerusalem One of the world's largest shipbuilders names a new CEO days after dire warning on losses Rubber farmers are getting slammed by low prices — but one company wants to fix that

Asia

China should be neutral if North Korea fires first on US: Global Times

China should remain neutral if North Korea launches an attack that threatens the United States, a Chinese state-run newspaper said on Friday, sounding a warning for Pyongyang over its plans to fire missiles near the U.S. Pacific territory of Guam.

The comments from the influential Global Times came after U.S. President Donald Trump stepped up his rhetoric against North Korea again on Thursday, saying his earlier threat to unleash “fire and fury” on Pyongyang if it launched an attack may not have been tough enough.

Asian equity markets sank again on Friday and European stocks looked set for their worst week this year because of the tensions.

“This situation is beginning to develop into this generation’s Cuban Missile crisis moment,” ING’s chief Asia economist Robert Carnell said in a research note. “While the U.S. president insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution.”

China, North Korea’s most important ally and trading partner, has reiterated calls for calm during the current crisis. Beijing has expressed frustration with both Pyongyang’s repeated nuclear and missile tests and with behavior from South Korea and the United States, such as military drills, that it sees as escalating tensions.

“China should also make clear that if North Korea launches missiles that threaten U.S. soil first and the U.S. retaliates, China will stay neutral,” the Global Times, which is widely read but does not represent government policy, said in an editorial.

“If the U.S. and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so,” it said.

China’s Foreign Ministry reiterated a call for all parties to speak and act cautiously and do more to ease the situation, rather than going down the “old path” of exchanges of shows of force and continually rising tension.

North Korea’s state-run KCNA news agency said on Thursday its army would complete plans in mid-August to fire four intermediate-range missiles over Japan to land near Guam.

Trump said North Korean leader Kim Jong Un was not going to get away with his “horrific” comments and disrespecting America.

“Let’s see what he does with Guam. He does something in Guam, it will be an event the likes of which nobody’s seen before, what will happen in North Korea,” Trump told reporters in New Jersey, without offering specifics.

Shortly after Trump spoke, U.S. Defense Secretary James Mattis told reporters the United States still preferred a diplomatic approach to the North Korean threat and that a war would be “catastrophic”.

Asked if the United States was ready if North Korea made a hostile act, he said: “We are ready.”

Tension in the region has risen since the reclusive North staged two nuclear bomb tests last year and launched two intercontinental ballistic missile tests in July in defiance of world powers. Trump has said he would not allow Pyongyang to develop a nuclear weapon capable of hitting the United States.

The threat from Pyongyang is prompting South Korea to beef up its military muscle amid fears of a clash along the world’s most militarized border, its frontier with the North. Seoul is looking at building more powerful missiles and a nuclear-powered submarine, officials said.

The United States and South Korea remain technically still at war with North Korea after the 1950-53 Korean conflict ended with a truce, not a peace treaty.

Experts said that, if North Korea did launch intermediate-range missiles toward Guam, all its other missiles and artillery would be ready for action. “We should be prepared too,” said Kim Dong-yub, a military expert at Kyungnam University’s Institute of Far Eastern Studies in Seoul.

Japan is also building up missile defenses and is considering the acquisition of munitions that would allow it to strike at North Korean missile sites.

On Thursday, U.S. and Japanese troops began an 18-day live fire exercise on the northern Japanese island of Hokkaido, which was to include rocket artillery drills and involve 3,500 troops.

The Northern Viper drills are one of the scheduled exercises that Japan’s Self Defence Forces conducts regularly with their U.S. counterparts and are not a response to the latest tensions.

South Korean and U.S. troops are also gearing up for an annual joint drill from Aug. 21, called the Ulchi Freedom Guardian, in which up to 30,000 U.S. troops will take part.

South Korea’s national security adviser Chung Eui-yong and his U.S. counterpart H.R. McMaster spoke on the phone for 40 minutes early on Friday, a spokesman for the presidential Blue House in Seoul said.

The two discussed responses to North Korean provocations and the security situation on the Korean peninsula, he said.

On Guam, a tropical island more than 3,000 km (2,000 miles) to the southeast of North Korea, residents remained sanguine.

“We’re just gonna sit down and barbecue here and have fun,” said Peter Toves, 47, a Guam native who rents out kayaks and jetskis. “There’s nothing we can do, just wait.”

Source: cnbc china
China should be neutral if North Korea fires first on US: Global Times

Comments are closed.