America's Future Update on China

Update on China's Failure with Green Energy

The No. 1 company that was Communist China's effort to "go green" in production of energy was Suntech Power, one of the world's largest makers of solar panels. It collapsed into bankruptcy in March in a remarkable reversal for what had been a huge Chinese government effort to dominate the renewable energy industry.

More than any other country, China had leaned heavily on renewable energy to solve its problems of air pollution and dependence on imports from the Middle East and Africa. Suntech, a centerpiece of this effort, employed 10,000 people, and even set up a small factory in Goodyear, Arizona to assemble the panels. That plant is now closed, too. Readers will remember that the big U.S. maker of solar panels, Solyndra, was given a half billion dollars of U.S. taxpayer's money by Obama, and then promptly went bankrupt.  NY Times 3-21-13

Update on How Communists Get Rich in China

Did you think Communism is a system that distributes all things equally to the people? Well, think again. If you are a reliable Communist, you can be allowed to steal the country's wealth and become super rich.

When the Communist Party elite gathered this year to anoint China's new leaders, some of the world's richest men occupied honored seats. Wang Jianlin of Dalian Wanda Group, is worth an estimated $10.3 billion and is the recent buyer of U.S. cinema chain AMC Entertainment Holdings. Liang Wengen, worth $7.3 billion, has a construction equipment company, Sany Heavy Industry Co. that competes with Caterpillar Inc. Zhou Haijiang, a clothing mogul, is worth $1.3 billion.

The Wall Street Journal identified 160 who collectively have a family net worth of $221 billion, and 75 others whose average net worth is over $1 billion each. China's legislature has more very rich members than any other such body on earth. These people are called "princelings" - they are the sons of reliable Communists and favorites of the bosses.

Update on How China Carries On Cyber Warfare

Cyberattacks carried out by foreign governments, especially Communist China, is replacing terrorism as our No. 1 concern. Chinese hackers have been stealing huge amounts of valuable data and intellectual property, according to FBI Director Robert S. Mueller. When a U.S. company pays for research and a Chinese firm gets the results free, it destroys our competitive edge. One American company had all its data from a 10-year $1 billion research program copied by hackers in one night.

Gen. Keith Alexander, head of the military's Cyber Command, called the continuing cybertheft "the greatest transfer of wealth in history." Congress has not dealt with this theft even though federal agencies could stop the theft if legislation gave them the authority to act. We need a major program to grab stolen data leaving the country. Many companies do not even know they have been hacked.  NY Times, 4-2-12