China’s Banks Make Fewer Profits; China Foreign Ministry Says US Is the ‘Real Thanos’

Tiffany Meier
By Tiffany Meier
November 3, 2020China in Focus

About 100 Chinese banks that aren’t listed in China’s stock markets released their financial reports at the end of October. According to China-based Securities Daily, three-quarters of these banks are making a loss.

According to Chinese media, in the first half of this year at least 1,300 bank outlets and branches in China were closed. State-owned banks laid off a total of 26,000 employees.

China’s foreign ministry spokesperson lashed out at the United States on Twitter over the weekend. She accused the United States of being “the real Thanos,” referring to the comic book supervillain, saying there is “no need to disguise itself as a victim.”

“The U.S. is really good at implementing the ‘Attack China’ strategy, but really bad at facing up to the reality and handling the COVID-19 pandemic,” she tweeted.

The spokeswoman’s tweets were in response to a U.S. official’s recent remarks on China. In an online seminar, Assistant Secretary of State David Stilwell said Beijing’s influence activities are “predatory and hegemonic.”

Japan’s economy is deeply dependent on China, but it has ramped up efforts to cut ties since the pandemic, subsidizing manufacturers to leave China and go home.

With government subsidies amounting to nearly $23 million, the country is at the leading edge of a push to encourage Japan’s manufacturers to diversify their supply chains out of China.

China has the world’s largest maker of commercial drones. The Chinese company owns nearly 80 percent of the worldwide commercial sector.

Researchers say the Chinese regime could exploit the company’s data since all Chinese companies have to cooperate with state intelligence agencies if asked.

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