{"id":31475,"date":"2018-02-23T06:50:04","date_gmt":"2018-02-23T11:50:04","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31475"},"modified":"2018-02-23T06:50:04","modified_gmt":"2018-02-23T11:50:04","slug":"chinas-aig-moment-arrives-beijing-bails-out-systemically-important-anbang-chairman-removed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31475","title":{"rendered":"China&#8217;s &#8220;AIG&#8221; Moment Arrives: Beijing Bails Out &#8220;Systemically Important&#8221; Anbang, Chairman Removed"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-02-22\/chinas-aig-moment-arrives-beijing-bails-out-systemically-important-anbang-chairman\"><span class=\"field field--name-title field--type-string field--label-hidden\">China&#8217;s &#8220;AIG&#8221; Moment Arrives: Beijing Bails Out &#8220;Systemically Important&#8221; Anbang, Chairman Removed<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<div class=\"a2a_kit a2a_kit_size_32 a2a_default_style\" data-a2a-icon-color=\"#222\">\n<div><\/div>\n<\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"https:\/\/www.zerohedge.com\/news\/2017-11-02\/anbang-evergrande-or-does-hnas-bond-sale-mark-beginning-chinas-minsky-moment\"><em>In November of last year,<\/em><\/a> we set forth the four candidates that would trigger China&#8217;s downfall and expose the Potemkin village economy as nothing but a facade&#8230;<\/p>\n<blockquote><p>It might be<strong> Anbang<\/strong> &#8211; the acquisitive insurance behemoth \u2013 see <a href=\"http:\/\/www.zerohedge.com\/news\/2017-06-15\/anbang-just-became-systemic-risk-revenue-crashes-90-its-chairman-detained\">\u201cAnbang Just Became A \u2018Systemic Risk\u2019: Revenues Crash As Its Chairman Is \u201cDetained\u201d<\/a><\/p>\n<p>It might be<strong> China Evergrande<\/strong> \u2013 the developer of \u201cghost\u201d properties and described by J Capital\u2019s, Anne Stevenson-Yang as \u201cthe biggest pyramid scheme the world has yet seen\u201d \u2013 see<a href=\"http:\/\/www.zerohedge.com\/news\/2017-08-28\/stevenson-yang-warns-china-about-hit-wall\"> \u201cStevenson-Yang Warns \u2018China Is About To Hit A Wall\u201d. <\/a><\/p>\n<p>It might be<strong> HNA. <\/strong>The highly-leveraged Chinese conglomerate, which has been on an overseas acquisition binge, is paying more for a 363-day dollar loan than serial defaulter, Argentina, paid on a 100-year loan earlier this year.<\/p>\n<p>Or\u00a0It might be <strong>Dalian Wanda,<\/strong> which established itself building and operating commercial property, luxury hotels, culture and tourism, and department stores. While the company has its roots in property and infrastructure, it recently begun to push in a bold new direction: investing in all six of Hollywood&#8217;s major studios.<\/p><\/blockquote>\n<p>And now we know<\/p>\n<p>A <a href=\"https:\/\/www.zerohedge.com\/news\/2018-02-22\/china-shuts-down-its-vix-halt-market-turbulence\">day after banning VIX<\/a>, it appears China has finally reached its &#8220;Minsky Moment,&#8221; or in the case of echoing America&#8217;s demise, its &#8220;AIG Moment.&#8221;<\/p>\n<p>According to the China Insurance Regulatory Commission website, <strong>China regulators to take control of Anbang Insurance from Feb. 23, 2018 to Feb. 22, 2019.<\/strong><\/p>\n<p>Additionally, <strong>former Chairman Wu Xiaohui <\/strong><em>(who, as a reminder,\u00a0is married to Deng Xiaoping&#8217;s granddaughter, and was in talks with Jared Kushner for stake in 666 Fifth Ave)<\/em> <strong>will be removed and prosecuted for alleged economic crime.<\/strong><\/p>\n<p>China\u2019s insurance regulator said <strong>Anbang violated insurance rules in fund use,<\/strong> according to the statement.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s &#8220;AIG&#8221; Moment Arrives: Beijing Bails Out &#8220;Systemically Important&#8221; Anbang, Chairman Removed In November of last year, we set forth the four candidates that would trigger China&#8217;s downfall and expose the Potemkin village economy as nothing but a facade&#8230; It might be Anbang &#8211; the acquisitive insurance behemoth \u2013 see \u201cAnbang Just Became A \u2018Systemic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[17406,2015,2045,130,3018,4318],"class_list":["post-31475","post","type-post","status-publish","format-standard","hentry","category-economics","tag-anbang","tag-bailout","tag-beijing","tag-china","tag-minsky-moment","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31475"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31475\/revisions"}],"predecessor-version":[{"id":31476,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31475\/revisions\/31476"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}