Elaine Meinel Supkis
Time to look into a major Chinese conglamorate monster organization, Hutchinson Whampoa/Cheung Kong Holdings. It illustrates clearly, the history of the declining British Empire, the various pirate coves set up by the Crown and how the Chinese took over the Asian off-shore havens and the accumulated holdings there. The Chinese have, since 1970, accelerated their control over business in Asia. As a recession deepens in the West, it pays to look into the doings of the Chinese who happen to have used these recessions in the past to expand their control over the markets in Asia and now, the world. They have sovereign wealth.
@In January, the Group teams up with the US's Name-Your-Own-Price Internet pricing system Priceline.com with a plan to bring buyer-driven e-commerce to Asia.
@In January, the Group and Cheung Kong (Holdings) Limited form a joint venture named iBusiness Corporation with the Hongkong and Shanghai Banking Corporation Limited and Hang Seng Bank, with the aim to become the dominant service provider and business facilitator by capitalising on the resources, network and customer base of the four partners.
@In February, the Group accepts a revised offer by Vodafone for all of their Mannesmann shares. The consideration is 3,056,910,365 new Vodafone shares.
@In February, the Group forms a 50-50 joint venture with Computer And Technologies Holdings Limited, to set up an Information Technology Resource Centre with expertise in IT and e-commerce application development.
@In February, the Group and DLJdirect enters into a 50-50 joint venture agreement to expand DLJdirect's on-line investment service throughout Asia to Hong Kong and mainland China, Thailand, Singapore, Malaysia, the Philippines, Taiwan and Indonesia. (The JV is subsequently renamed Hutchison CSFBdirect.)
@In March, the Group's China-related new media mega-portal, TOM.COM, commences trading on the Growth Enterprise Market ('GEM') of The Stock Exchange of Hong Kong Limited (stock code: 8001).
This is just a small measure of the many actions taken by this conglomerate just 5 years ago. Here is what they did this last years:
@In February, Hutchison Port Holdings enters into agreements with Saigon Investment Construction & Commerce Company Limited (SICC), to jointly construct, develop and operate a new container terminal in Ba Ria Vung Tau Province, Vietnam, throughout the term of the 50-year concession. The new joint venture company is named Saigon International Terminals Vietnam Limited.
@In March, Hutchison Telecommunications International Limited announces the launch of its Indonesian mobile operation Hutchison CP Telecom (HCPT). The company commits to provide GSM mobile telephony services under the 3 brand with 3G network services overlaid in the key cities of Indonesia.
@In June, Husky Energy Inc has been awarded exploration licenses on Block 5 (2007-22) and Block 7 (2007-24) from the West Disko 2006 Licencing Round, offshore Greenland.
@In July, Husky Energy Inc announces the completion of its acquisition of the refinery in Lima, Ohio, USA from Valero Energy Corporation. The agreement to acquire the refinery was announced on 2 May 2007 and made effective on 1 July 2007.
@In August, Hutchison MediPharma Limited ("HMPL"), a wholly-owned subsidiary of Chi-Med, enters into a drug discovery and development agreement with Eli Lilly and Company ("Lilly"). Under the agreement, Lilly and Hutchison MediPharma will initially collaborate on the discovery and development of pharmaceutical agents focused on targets in oncology and inflammation.
@In October, Husky Energy Inc announces that Husky Oil Operations Limited and Esso Exploration Greenland Limited have been awarded a joint interest in an exploration licence on Block 6 (2007/27) from the West Disko 2006 Licencing Round, offshore Greenland.
@In October, Hutchison Telecommunications International Limited announces that its Macau mobile operation Hutchison Telephone ("Macau") Limited, has launched 3G services using WCDMA technology.
This mega-business machine is located in Hong Kong. Hong Kong was set up by the British to be one of their many, many tax-havens and piratical business invasive operations over 100 years ago.
The history of Hong Kong begins in 1842 at which time the Island known as Hong Kong, meaning "Fragrant Harbor," became the first British possession in China as a result of China's defeat in the so-called "Opium War" and the imposition of the first of a number of "unequal treaties" (a term used to describe treaties which were imposed upon the vanquished). Prior to Britain taking possession, the island was home to a few fishing communities; lacking good sources of water, it had few permanent residents. Britain had used Hong Kong and other islands as resting and refueling stops in its growing China trade; Hong Kong was also frequented by pirates and the British often colluded with them, especially in the banned opium trade. Britian requested the cession of Hong Kong so that it would have its own colony just as the Portuguese had had Macau for the previous 300 years (since 1557). One of the issues at stake in the Opium War (1839-1841) was the status of Macau as the Chinese had decreed that all ships, from all nations must trade with China ONLY through the offices of the Portuguese on Macau. The British were offended at this and wanted free trade, which the Treaty of 1842 partially provided.
Was it purely accidental that the British set up a pirate cove right next to China? I would suggest not. There is a very strong correlation between running off shore, often illegal operations and the British Crown. Far from being a nice, dithering sort of family, the British Royals, descendants of Viking raiders and invading hordes during the Dark Ages, they never lost this taste for piracy. Just as the Brits lost control of the United States but kept all their little islands intact and useful in various ways, so it was with Hong Kong. Banking and insurance cluster on these many little islands because they have no one watching what they are doing which is why Hong Kong started out as a criminal drug-running outfit.
It is of great interest to me to see Britain co-invading Afghanistan and that place suddenly becoming a global opium producing power. This is as natural as a rock falling due to gravity. Hutchinson Whampoa isn't merely an anonymous organization, the history of British rule and then the degradation of this rule as the Chinese, no slouches when it comes to money and capitalism, gradually and then very suddenly, took over.
Hutchison Whampoa was originally two companies founded in 19th century,namely Hong Kong and Whampoa Dock, established in 1863, and Hutchison International in 1877. Hutchison International, under Sir Douglas Clague, gained controlling interest of Hong Kong and Whampoa Dock in the 1960s.
In 1977, Hutchison acquired all stakes of Hong Kong and Whampoa Dock and became Hutchison Whampoa Limited.
Although Hutchison had a portfolio of valuable real estate interests in docks and retail ventures, the company ran into trouble, and had to be rescued by the Hong Kong Bank. The bank took a 22% stake in the company, and had Clague replaced.
On September 25, 1979, at the close of trade in London, the Bank announced it was selling its stake in Hutchison to Cheung Kong for HK$639 million.
The European name was kept because it is a great mask. The people running this organization are Chinese. Also, note how the organization run by the Europeans fell into difficulties during the 1970's and in 1979, when a recession hit Asia thanks to Volker in the US raising interest rates high enough to kill inflation, killed the various export markets and financial wheels and deals in Asia. Hong Kong, at this time, was the straw that was Communist China's only outlet to the West. China could have easily taken Hong Kong violently but instead, ran around at home, going nuts with the various hysterias launched by Mao and then, Madame Mao.
By 1979, she was a footnote to history and the New China rose from the ashes of some of the most wasteful and possibly psychotic rule on earth and this New China wanted to learn from the Chinese in Hong Kong as well as other capitalists. The Hong Kong people, working under British rule, had absorbed many lessons and they struck with decisiveness. Waiting until the Brits in London could do nothing, the bankers in Hong Kong made the deal. I will note here that the intention is obvious: they wanted only Chinese to run the organization. This is a sort of nationalism that Japan is quite familiar with: they do everything with this in mind.
The Cheung Kong family doesn't just run Hutchinson Whampoa, they run many other entities that have many arms and legs, a veritable army of centipedic corporations.
1. Cheung Kong (Holdings) Limited(Cheung Kong Holdings) ( Chinese: 長江實業(集團)有限公司 Pinyin:Chángjiāng Shíyè (Jítuán) Yǒuxiàn Gōngsī) SEHK: 0001 is the flagship of the Cheung Kong Group, headquartered in Hong Kong, and one of Hong Kong's leading multi-national conglomerates.
2. In Hong Kong alone, the Group has nine companies that are listed on the Hong Kong Stock Exchange.
Cheung Kong (Holdings) Limited (長江實業(集團)有限公司) SEHK: 0001, a constituent member of the Hang Seng Index.
3. Hutchison Whampoa Limited (和記黃埔有限公司) SEHK: 0013, a constituent member of the Hang Seng Index.
4, Cheung Kong Infrastructure Holdings Limited(長江基建集團有限公司) SEHK: 1038, a constituent member of the Hang Seng Index.
5. Hongkong Electric Holdings Limited (香港電燈集團有限公司) SEHK: 0006, a constituent member of the Hang Seng Index.
6. Hutchison Telecommunications International Limited SEHK: 2332, NYSE: HTX.
7. Hutchison Harbour Ring Limited SEHK: 0715.
8. TOM Group Limited SEHK: 2383. Previously listed on the Growth Enterprise Market as 8001.
9. CK Life Sciences Int'l., (Holdings) Inc. (長江生命科技集團有限公司) SEHK: 8222, listed on the Growth Enterprise Market.
10. TOM Online Inc. NASDAQ: TOMO, SEHK: 8282, listed on the Growth Enterprise Market.
Physical shipping, internet commerce, communications systems, real estate, business construction, port authorites, on and on, they are many things. The present Communist Chinese leaders are very aware of this family and its dealings. So long as they serve the interests of the Party, they are allowed to accumulate power. I don't know how deep the penetration is within this organization, I would assume the communists have moved some of their sovereign wealth funds deep inside. It would make perfect sense.
Just like the Queen's various pirate coves don't report what they do in the dark, so it is with China. We can guess a lot but we don't really know exactly what is going on. What I do know is, this mega-organization which is now part of China, are opening ports in Mexico. I have reported about them in the past, the controversy over the planned mega-highways running from Mexico to the heartland of the USA, are causing a great stir...on line. For the most part, few leftist organizations have focused on this and the Amero, the future currency we will probably be using for international trade. But the far right or the libertarian areas online have been quite vocal about all this. Whampoa is very much involved in creating this new trade system.
Bush has been financially entangled since the day his dad, right on the heels of my dad leaving China, came there to be the US Ambassador. When the Bushes need to be bailed out of their many financial messes, Chinese benefactors come and buy up dry well oil companies from them or fix banks run by them, etc. The Bushes never go bankrupt, everyone around them goes bankrupt. Except for the Chinese who are smarter than Bush and others around the Bushes. They know how to make money from this relationship.
I keep saying, 'Arrest Bush'. But he won't be impeached over this. Aside from war crimes, he should be raked over the coals over the entire clan being too intimate with these Chinese businesses. The rules for letting Mexican truckers invade the US were shoved forwards by Bush despite the GOP squealing like stuck pigs due to rage within Republican voters who are very much against this. Whampoa needs these truck regulations. The flood of goods from China will soon arrive on cheap, Mexican trucks. And this is the plan for killing inflation. The decoupling of essentials from the inflation stats means value-added manufactured goods will still come here even as our ability to buy food and fuel declines. The fake 2% inflation rate calculations will continue forever while the elderly and poor freeze or starve to death.
This chart, from Wikipedia, shows the layout of the Cheung Kong family organization. They own slightly less than half of the Whampoa part but of the port facility systems, they own the majority, by far.
For instance, the port of Ensenada in Baja California, just 100 miles south of the Tijuana border, is revamping its facilities, dredging its cove to handle larger ships, and has begun intermodal deliveries of containers. Separately, late last year, Hutchinson Ports Holding of Hong Kong signed an agreement with the Government of Baja California to jointly carry out a feasibility study to build a port and a 150-kilometer railroad to connect with Mexicali. The study is due to be completed in July 2005. If undertaken, this would not be a federal Mexican project.> This map, from the Whampoa Port organization, shows the deep penetration they now enjoy. They intend to control all Chinese trade, they and other Chinese-owned organizations, that is, and they intend to cut the US out from the money flow as much as possible. Except for any politically connected people they need to keep on board, of course. This chart shows the size of the facilities just built in Baja, California. It isn't that large a port compared to say, the US ports in Bayonne, New Jersey. But it is significant in that it is a start. A toe hold that will grow over the years. For example, Global in New Jersey has many more cranes and it is only one of several huge terminals there. When I read about that port opening, a number of writers made it seem as if it was going to be huge, just huge. But so far, it is still very much a baby in size.
From Logistics Today;
From Hutchinson Whampoa's web site:
A Chinese company with close ties to the communist government owns 49 percent of the Lockheed Martin subsidiary that is negotiating a contract with the North American SuperCorridor Coalition, Inc. – the Dallas-based trade association – to place cargo monitoring sensors along as superhighway stretching from Mexico to Canada.
For instance, the port of Ensenada in Baja California, just 100 miles south of the Tijuana border, is revamping its facilities, dredging its cove to handle larger ships, and has begun intermodal deliveries of containers. Separately, late last year, Hutchinson Ports Holding of Hong Kong signed an agreement with the Government of Baja California to jointly carry out a feasibility study to build a port and a 150-kilometer railroad to connect with Mexicali. The study is due to be completed in July 2005. If undertaken, this would not be a federal Mexican project.>
This map, from the Whampoa Port organization, shows the deep penetration they now enjoy. They intend to control all Chinese trade, they and other Chinese-owned organizations, that is, and they intend to cut the US out from the money flow as much as possible. Except for any politically connected people they need to keep on board, of course.
This chart shows the size of the facilities just built in Baja, California. It isn't that large a port compared to say, the US ports in Bayonne, New Jersey. But it is significant in that it is a start. A toe hold that will grow over the years.
For example, Global in New Jersey has many more cranes and it is only one of several huge terminals there. When I read about that port opening, a number of writers made it seem as if it was going to be huge, just huge. But so far, it is still very much a baby in size.
China's Hutchinson Port Holdings entered into a $50 million joint venture in 2005 with Savi Technology, a Lockheed Martin wholly-owned subsidiary, to form a new company called Savi Networks LLC. Savi Technology owns 51 percent and Hutchinson Port Holdings, a wholly-owned subsidiary of the Chinese holding company Hutchinson Whampoa Limited, holds the rest.
This story from almost a year ago illustrates how the Chinese are carefully tip toeing into various organizations and deals they very much want. The Lockheed business interests me because I track this stuff a lot. Boeing and Lockheed have had to go hat in hand to China repeatedly. All our corrupt government negotiators focus on making deals for Lockheed and Boeing because our military/industrial complex is pretty much all we have left and the Chinese can't get access to this technology unless they forge iron ties with US elected officials like the Bush clan. Note how the Chinese kept their purchase at just under 50%. This is so they are not seen out in the open. This can wear an American face for the time being but the people whispering in the back ground speak Chinese.
Like so many Trojan Horses, the Chinese build these entities and then use them to pry open doors. The US talks brave talk about making the Chinese do business our way but I see it all going their way since they, not us, own our government at several important levels.
The right wing likes to focus on the Clintons as beneficiaries of Chinese corruption. Yet they refuse to understand how ALL our leaders are in the same boat. Paddling like mad at the orders of the Chinese communist government. So we go and negotiate with the Europeans about the yuan and then go off to China to collect more money and do more things the Chinese want us to do. Notice how nothing ever changes? The technology the Chinese want will be theirs, slowly, they are encircling all our systems and will gain what they seek for they have Sovereign Wealth Funds! We have SIVs that are worthless. We need them more than they need us.
Bear Stearns Cos. and China's Citic Securities Co. agreed to invest $1 billion in each other in an alliance to pool their businesses in Asia.
Citic will buy the equivalent of 6 percent of New York-based Bear Stearns's shares as the banks collaborate to develop financial products and services in China, the companies said in a statement today. They will also form a Hong Kong-based joint venture to bring together their operations outside of China.
This is a full surrender. The wheel of history, the wheel of fortune, turns and we fall under it.