Epoch INSIGHT Issue 2

CHILDREN AND COVID-19 VACCINES A look at the science

By Nathan Worcester

FAKE DATA? An economist explains why China’s economic figures can't be trusted. p.40

e t amil C g n i c na i F Experts say the climate financing plan won't help the climate, but will push the country toward totalitarianism. p.33

r o b aL e ga tr o h s America's vanishing workforce is becoming a big problem. p.47

NOVEMBER 5–11, 2021 | $6.95

I N S I G H T November 5 – 11, 2021 1

Editor’s note

Children and Vaccines FDA's approval of emergency authorization for Pfizer's COVID-19 vaccine for children aged 5 to 11 and a subsequent recommendation by the CDC for use, it appears the verdict is in—or is it?

In this week's cover story, reporter Nathan Worchester examines the numbers, the science, and expert opinions on COVID-19 vaccines for children.

While some experts have advocated for children to be vaccinated, one leading expert, Harvard University professor of medicine Dr. Martin Kulldorff, told The Epoch Times that to him “it’s not at all clear that the benefits outweigh the risks for children.”

In Worchester's article, you will read how scientists have repeatedly found that the dangers of COVID-19 to young children are very low. Scientists do, however, have questions about the vaccines’ potential long-term effects on health.

The only FDA panelist to abstain from voting on the matter did so in part because of his concerns about long-term safety data. Furthermore, controversy erupted over the comments of one FDA member, who stated, "We’re never going to learn about how safe the vaccine is unless we start giving it."

Read this week's article by Worchester to get a full picture of what is known, and what those making the case for vaccinating children, and those against it, are saying.

In this week's edition, you can read about the government's plan to impose a slew of financial regulations in order to counter climate change.

Under the plan, climate change projections would essentially be inserted into decisions across the financial industry.

Experts are telling INSIGHT that while the plan would do little to reduce global temperatures, it would significantly expand the government’s authority and push the country toward totalitarianism. following the

Jasper Fakkert Editor-in-chief

2 I N S I G H T November 5 – 11, 2021

STEPHEN GREGORY PUBLISHER JASPER FAKKERT EDITOR-IN-CHIEF

CHILDREN AND COVID-19 VACCINES A look at the science

CHANNALY PHILIPP LIFE & TRADITION, TRAVEL EDITOR

By Nathan Worcester

FAKE DATA? An economist explains why China’s economic figures can't be trusted. p.40

Climate Financing Experts say the climate financing plan won't help the climate, but will push the country toward totalitarianism. p.33

CHRISY TRUDEAU MIND & BODY EDITOR

Labor shortage America's vanishing workforce is becoming a big problem. p.47

NOVEMBER 5–11, 2021 | $6.95

I N S I G H T November. 5 – 11, 2021

1

ON THE COVER An examination of the science, numbers, and expert opinions related to the FDA's emergency authorization of Pfizer's COVID-19 vaccine for 5- to 11-year-olds.

COVER PHOTO BY GETTY IMAGES

CRYSTAL SHI HOME, FOOD EDITOR SHARON KILARSKI ARTS & CULTURE EDITOR FEI MENG, BIBA KAJEVICH & JUNHAO SU ILLUSTRATORS SHANSHAN HU PRODUCTION CONTACT US THE EPOCH TIMES ASSOCIATION INC. 229 W. 28TH ST., FL. 7 NEW YORK, NY 10001 ADVERTISING ADVERTISENOW@EPOCHTIMES.COM SUBSCRIPTIONS, GENERAL INQUIRIES, LETTERS TO THE EDITOR HELP.THEEPOCHTIMES.COM (USPS21-800)IS PUBLISHED WEEKLY

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issue 04 | Nov. 5–11, 2021

26 | Trump Stores

50 | Breaking the Ice

29 | China Fuels

51 | Plastic Pollution

A year after the election, Trump stores are still thriving.

Tips to master the craft of civilized conversation.

Bolivia's Fires China‘s demand for Bolivian beef is fueling wildfires.

Turning discarded plastic into oil and then back into plastic.

52 | Global

31 | GOP Victories

Sweep in Virginia is a "bellwether" for next year’s election.

Leadership Asia expert Clyde Prestowitz on facing the CCP threat.

40 | Fake Data?

56 | Dream Villa

An expert says that China’s economic figures can't be trusted.

45 | Supply Chain

Why are we facing supply chain problems in the U.S.?

46 | CCP vs. Internet Beijing’s plan to control the global internet starts at home.

47 | Labor shortage

America's vanishing workforce is becoming a big problem.

48 | Property Bubble

Can China contain the economic impact of a real estate bust?

49 | Chinese

Economy Beijing reads the tea leaves of the economic future.

Features

11 | The Corridor of Death Haitians making their way to the US trek through one of the harshest places on earth.

16 | Children and Vaccines After the FDA's emergency authorization, a look at the evidence.

33 | Climate Financing Experts say the climate financing plan won't help the climate, but will push the country toward totalitarianism.

Then-Virginia Republican gubernatorial candidate Glenn Youngkin (2nd L) and his staff watch results come in on election night at the Westfields Marriott Washington Dulles in Chantilly, Va., on Nov. 2, 2021. Youngkin defeated his opponent Terry McAuliffe.

ANNA MONEYMAKER/GETTY IMAGES

Bel Air’s Il Sogno boasts masterly Old World craftsmanship.

58 | Point & Shoot These cameras are helping to reinvent the art of digital photography.

59 | Quality Time

Vintage watches provide a traditional way to stay on time.

62 | Beach Getaway The Bahamas is unparalleled for its sheer diversity of beaches.

64 | Taste of Miami

A cultural and epicurean jewel in the heart of Little Havana.

65 | Horse Events

Polo and horse shows are exciting; we’ll make you look like a regular.

I N S I G H T November 5 – 11, 2021 3

4 I N S I G H T November 5 – 11, 2021

S U C O F NI Kyle Rittenhouse Trial JUDGE BRUCE SCHROEDER speaks to Assistant District Attorney Thomas Binger (L) and Corey Chirafisi, an attorney for Kyle Rittenhouse, during the jury selection process, as Rittenhouse (bottom L) looks on, at the Kenosha County Courthouse on Nov. 1, 2021.

PHOTO BY SEAN KRAJACIC-POOL/GETTY IMAGES

I N S I G H T November 5 – 11, 2021 5

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NAT ION • WOR L D • W H AT H A P P E N E D T H I S W E E K

Issue. 04

The Week

JOSEPH PREZIOSO/AFP VIA GETTY IMAGES

U.S. Air Force Airman Staff Sergeant Michael Reynolds reconstitutes a dose of the PfizerBioNTech COVID-19 vaccine, in Boston on Feb. 16, 2021.

Over 10,000 Active-Duty Air Force Personnel Not Vaccinated by Deadline The unvaccinated include 4,933 who have applied for a religious exemption.

So far, no religious accommodation requests have been granted.

✒

MORE THAN 3 PERCENT of active-duty Air Force personnel did not get fully vaccinated against the virus that causes COVID-19 or get approval for an exemption, the military service announced a day after its COVID-19 vaccine mandate deadline.

The bulk of the force, or 95.9 percent, are fully vaccinated. Another 1 percent are partially vaccinated.

Any active-duty personnel who aren’t fully vaccinated are required to get tested for COVID-19 at least weekly, the Air Force announced.

I N S I G H T November 5 – 11, 2021 7

The Week in Short US

“We must do everything in our power to protect the personal data and information of our constituents.”

Sen. Raphael Warnock (D-Ga.), who in a joint effort with Sen. Marco Rubio (R-Fla.) introduced legislation they say will protect Americans’ sensitive personal data from overseas.

SRET OV SILOPAEN IM T O L AB NO N DET O V ERUSAEM

FO YTIROJAM

.ECILOP EHT

HSILOBA O T

SOURCE: MINNESOTA SECRETARY OF STATE'S OFFICE, RESULTS RELEASED NOV. 2

YES 44%

NO 56%

139 PERCENT

Law enforcement officers have fallen victim to 86 ambush-style attacks as of Oct. 31, up by 139 percent from last year’s figure, according to the Fraternal Order of Police. The attacks resulted in the murder of 26 officers and the wounding of 109.

8 I N S I G H T November 5 – 11, 2021

CALIFORNIA JUDGE RULES 4 DRUGMAKERS NOT LIABLE FOR FUELING OPIOID EPIDEMIC A California judge has ruled that four drug manufacturers can’t be held liable for fueling the widespread opioid epidemic in the state, dealing a significant blow to the $50 billion case.

Attorneys representing three counties in California— Orange, Santa Clara, and Los Angeles, plus the city of Oakland—filed the lawsuit in 2014.

DOJ FILES ANTITRUST LAWSUIT TO BLOCK $2 BILLION MERGER OF MAJOR BOOK PUBLISHING COMPANIES

The Department of Justice has filed an antitrust lawsuit to block a merger of two major book publishing companies.

Penguin Random House, the largest book publisher in the world, is seeking to acquire its competitor, Simon & Schuster, for $2.18 billion. The sale was announced in November 2020.

The DOJ said the acquisition would enable Penguin Random House “to exert outsized influence over which books are published in the United States and how much authors are paid for their work.”

Facebook

says it’s shutting down its facial recognition system in the coming weeks.

The pace [at which China is] moving and the trajectory that they’re on will surpass Russia and the United States if we don’t do something to change it.

Gen. John Hyten, vice chairman, Joint Chiefs of Staff

RATES OF COVID19 CASES, DEATHS AMONG VACCINATED ROSE: CDC Infections, hospitalizations, and deaths linked to COVID-19 have risen in recent months among people who have gotten a COVID-19 vaccine, according to newly released data from the Centers for Disease Control and Prevention. But the bulk of cases, hospitalizations, and deaths occurred among unvaccinated Americans, the data show.

COVID-19 cases per 100,000 among the fully vaccinated increased to 121 in mid-August from 12.3 in late June, according to the data. Around the same time, COVID-19-associated hospitalizations in that population rose to 75 per 100,000 from 8.9, and COVID-19 deaths jumped to 1.1 per 100,000 from 0.1.

The Week in Short US JUDICIARY

Biden Flips 2nd Circuit Court to Majority Democratic With Latest Confirmation

A U.S. Army soldier receives a dose of the COVID-19 vaccine in North Miami on March 10, 2021.

PENTAGON

THIS PAGE: MEGAN VARNER/GETTY IMAGES; SHUTTERSTOCK; WIN MCNAMEE/GETTY IMAGES; JUSTIN SULLIVAN/GETTY IMAGES; SHUTTERSTOCK; SHUTTERSTOCK; FILIPPO MONTEFORTE/AFP VIA GETTY IMAGES; RIGHT PAGE: JOE RAEDLE/GETTY IMAGES; BRENDAN SMIALOWSKI/AFP VIA GETTY IMAGES

Pentagon Ordered to Specify How It Treats Vaccine Mandate Exemptions The Department of Defense has been ordered to outline in detail how service members can apply for religious exemptions to its COVID-19 vaccine mandate, as well as how officials decide whether to approve or deny such requests.

Pentagon officials must explain in detail how troops can apply for a religious exemption, the procedure for resolving the request, the criteria by which applications are judged, and the procedure the people deciding on each request use to judge them, U.S. District Judge Steven Merryday, a George H. W. Bush appointee, ordered on Oct. 29.

The Pentagon must file the details by Nov. 12.

The order comes in a case brought against the military and other parts of the federal government. The class-action lawsuit alleges that federal vaccine mandates violate multiple laws.

GUN SALE

COVID-19 VACCINE

Gun sales in 2021 are close to being higher than in any year but one, with two months left to go, according to newly released data.

More than 1.4 million background checks were carried out by the FBI for gun sales in October, according to an analysis of bureau figures by the National Shooting Sports Foundation, a group that represents gun manufacturers.

The FBI reported conducting nearly 2.6 million checks in October.

The annual total gun permit checks completed year-to-date is now nearly 15.2 million. The total in 2016 was 15.7 million and the 2020 total was 21 million.

The Biden administration has released a new rule from the Occupational Safety and Health Administration (OSHA) that requires 84 million private-sector workers to get vaccinated against COVID-19.

The administration has also announced a rule from the Centers for Medicare and Medicaid Services that will require 17 million health care workers at facilities that receive federal funding to be vaccinated.

Additionally, the White House is pushing back the deadline for workers in those sectors to get fully vaccinated, to Jan. 4, 2022, according to a senior administration official.

Gun Sales Continue Climbing

OSHA Vaccine Mandate Released

The Biden administration has flipped the U.S. Court of Appeals for the 2nd Circuit to a majority of Democratic-appointed judges.

Judge Beth Robinson, who previously served on the Vermont Supreme Court, was confirmed by the Senate in a 51–45 vote, with Sens. Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska) breaking with their party to support Robinson’s nomination.

The confirmation has now given judges appointed by a Democratic president a 7–6 edge in the 2nd Circuit Court over Republican president-appointed judges.

Robinson had served on the Vermont Supreme Court since 2011, following an 18-year career at Langrock Sperry & Wool. She was plaintiffs’ co-counsel in a landmark Vermont case that held in 1999 same-sex couples were entitled to broader legal protections.

Robinson claimed to the Senate that her previous advocacy wouldn’t impact her work as a circuit court judge.

The Senate now has confirmed 28 of Biden’s 51 nominees for federal district and appellate courts.

Four more Biden appeals court nominees await confirmation votes in the Senate.

The Senate now has confirmed 28 of Biden’s 51 nominees for federal district and appellate courts.

I N S I G H T November 5 – 11, 2021 9

The Week in Short World YAHOO

Yahoo Pulls Out of China Over ‘Increasingly Challenging’ Environment

AFRICA

TAIWAN

Ethiopia Declares State of Emergency

US Donates 1.5 Million More COVID-19 Vaccines to Taiwan

Ethiopia declared a sixmonth state of emergency on Nov. 2 after forces from the northern region of Tigray said they were gaining territory and considering The Addis Ababa city administration has marching on the capital city advised residents to register their weapof Addis Ababa. ons and prepare to use force to defend The announcement came their neighborhoods from Tigray fighters. two days after Prime Minister Abiy Ahmed urged citizens to take up arms to defend themselves against the Tigray People's Liberation Front. Authorities in Addis Ababa told residents to register their arms and prepare to defend their neighborhoods.

The United States has delivered an additional 1.5 million Moderna COVID-19 vaccine doses to Taiwan, on top of the first 2.5 million doses in June.

“Our donation reflects our commitment to Taiwan, a vibrant democracy, valued partner, and trusted friend,” State Department spokesperson Ned Price said via Twitter.

Upon the arrival of the latest shipment, Taiwanese President Tsai Ing-wen expressed her gratitude on Twitter for the continued support from Washington, which proves the “strength of our bilateral partnership,” according to Tsai.

China is the world’s largest user and producer of coal, a major source of emissions.

CHINA

China’s Xi Calls for Stronger Action on Climate Change, but Makes No New Commitments

10 I N S I G H T November 5 – 11, 2021

FROM TOP: GETTY IMAGES; EDUARDO SOTERAS/AFP VIA GETTY IMAGES

Chinese leader Xi Jinping called for stronger action to deal with climate change on Nov. 1, days after submitting a revised plan to reduce carbon dioxide emissions that disappointed many climate observers.

In a written statement to the U.N. Climate Change Conference, Xi called on “developed countries not only to do more, but also provide support to help developing nations to do better.”

Ahead of the summit, China, the world's largest emitter of greenhouse gases, submitted its long-awaited emissions blueprint, which reaffirmed existing goals but added no new commitments. The moderate goals disappointed leaders and observers, including President Joe Biden, who said China “basically didn’t show up in terms of any commitments to deal with climate.”

Yahoo has shut down its services in mainland China, becoming the second Western tech giant to pull the plug on China over the past month.

The company stopped providing content for mainland Chinese users as of Nov. 1, according to a statement. Yahoo made the decision “in recognition of the increasingly challenging business and legal environment in China,” a company spokesperson said.

Last month, Microsoft's LinkedIn exited the country, citing “a significantly more challenging operating environment and greater compliance requirements in China.”

The timing of Yahoo’s pullout also coincided with Beijing’s implementation of a data security law, which stipulates how companies operating in China handle personal data and lays out rules on how such information is stored.

Yahoo, though, did not refer to this in its statement.

Yahoo’s technology-focused blog network Engadget will also cease publishing content on its Chinese website.

Focus Supply Chain

WORLD

THE CORRIDOR OF DEATH Haitians making their way to the US trek through one of the harshest places on earth, a desert at an altitude of 12,000 feet

By Autumn Spredemann

Chilean license plates left by contraband smugglers, or “chuteros,” to mark their route hang from a sign in the desert near the Bolivian village of Llica on Oct. 25, 2021.

I N S I G H T November 5 – 11, 2021 11

World Illegal Immigration

North Atlantic Ocean

CANADA

La Paz

UNITED STATES

PERU Ciudad Acuna

BOLIVIA

Del Rio Monterrey

MEXICO

Gulf of Mexico

Tapachula

GUATEMALA

North Pacific Ocean

Pisiga

Colchane

CUBA

Caribean

BELIZE Sea HONDURAS

North Pacific Ocean

NICARAGUA COSTA PANAMA RICA

VENEZUELA

CHILE

COLOMBIA ECUADOR

BRAZIL

PERU

Pisiga

BOLIVIA

South Pacific Ocean Santiago

PARAGUAY

Sao Paolo

ARGENTINA

URUGUAY

CHILE

South Atlantic Ocean

I

12 I N S I G H T November 5 – 11, 2021

Desert borderland between Chile and Bolivia known as the "corridor of death," where migrants and traffickers cross illegally.

A Dangerous Crossroad After sunset in Pisiga, a group of 10 Haitian illegal migrants waits outside in freezing temperatures for a bus. One told The Epoch Times they wanted to go to the city of Oruro, Bolivia.

From there, additional transportation could be arranged to convey them north to the border of Bolivia and Peru, near the town of Copacabana.

Haitians crossing into Bolivia from Chile largely follow the Oruro-El Alto route north in their journey toward the United States.

Meanwhile, on the outskirts of Pisiga, near an unmarked section of the Bolivia-Chile border, a group of three Venezuelans waits to cross into Chile illegally.

“We will cross in the night,” Jhoel Silva, one of them, told The Epoch Times.

Silva said the situation in Venezuela under socialist leader Nicolás Maduro had grown too dire to stay in their country.

“There is no food to buy in the markets or stores,” heE Pexplained.

O C H M A G A Z I N E August 27, 2021 1 Hyperinflation in Venezuela, coupled with the devaluation of the bolívar since 2017, makes even the basic elements of survival nearly impossible.

“If you work for one week, you only have enough money to eat for three days,” Silva said.

“The salary [in Venezula] is not enough to live. With one US dollar, you only get one kilo

1.5

million omfigrants legandi .

Thenumbr

nClihe,bot People looking to cross illegally have no choice but to traverse the high desert.

ALL PHOTOS BY CESAR CALANI COSSO/THE EPOCH TIMES

n the high-a ltit u de de sert shared by Chile and Bolivia lies a remote stretch of dirt road that marks their sparsely patrolled border.

Once military patrols are out of sight, illegal migrants dash across the road at all hours of the day, and continue their journey north from Pisiga, in Bolivia, or south from Colchane, in Chile.

This frontier is popular for both illegal migration and contraband smuggling and, because of the extreme climate-based survival challenges, is called the “corridor of death” by some immigration officials.

“We saw a huge number [of illegal migrants] passing through in June and July this year,” Benjamin Choque, a Bolivian immigration officer, told The Epoch Times.

Choque explained that those without documents have a hard time entering Bolivia legally because the nation requires a negative PCR test for COVID-19 that’s no older than 72 hours. He said the tests are impossible to obtain in most remote Chilean desert towns near the border.

Choque admitted he’s seen a fair number of Venezuelans and Haitians crossing into Bolivia from Chile, but clarified, “They all have passports, they just don’t have visas.”

When asked what Bolivian officials do upon catching illegal immigrants, Choque said, “We just send them back across the border.”

He then added that a humanitarian law exists in Bolivia that restricts a more aggressive response to Venezuelan and Haitian crossers.

“The situation has benefits for the businesses in Pisiga, but it creates a lot of trouble for us.”

World Illegal Immigration

Illegal migrants from Venezuela Jhoel Silva, Alberto Ochoa, and Alejandro Perez wait to cross the border at night, on the outskirts of Pisiga, Bolivia, near an unmarked section of the border with Chile, on Oct. 25, 2021.

Illegal migrants wait on a road at the border while others on the Chilean side are intercepted by soldiers and questioned on Oct. 26, 2021.

of flour,” Alberto Ochoa, another Venezuelan, told The Epoch Times.

Ochoa said the monthly salary for many Venezuelans is only $1.

“We are looking for honest work [in Chile].

We want to find a better life for our families,” Ochoa said.

Traveling in either direction, illegal migrants have to cross difficult terrain and face temperatures that swing as high as 100 degrees during the day and drop to freezing at night.

The shared border, and desert beyond, is located at an altitude of more than 12,000 feet and has no shelter from the elements. Nor does it offer drinking water to anyone who ends up stranded in a vehicle or dares to make the journey on foot.

On Oct. 9, Chilean officials discovered the body of a Haitian woman traveling north near the border town of Colchane. She was the 13th illegal migrant who died this year trying to cross the aptly named “corridor of death.”

Ochoa said he and his companions walked for six days from Oruro to reach the border and

Illegal migrants are intercepted by military officials in Chile after crossing the border on Oct. 26, 2021.

The shared border, and desert beyond, is located at an altitude of over 12,000 feet and has no shelter from the elements.

Neither does it offer drinking water.

I N S I G H T November 5 – 11, 2021 13

World Illegal Immigration

“The chuteros will kill people and leave them [as a warning]. They are territorial, even with each other.”

Miguel Flores, driver

Bones and the remains of a t-shirt in the desert near the border town of Pisiga, Bolivia, on Oct. 25, 2021.

the altitude, coupled with the extremely dry air, had taken its toll on their health.

Alejandro Perez, an illegal migrant traveling with Ochoa and Silva, showed The Epoch Times the bottoms of his feet, which were cracked and bleeding from the 148-mile walk to Pisiga.

“I have friends in Chile [who can help] and I want to find a job,” Perez said.

With his mother and children depending on him for income back in Venezuela, Perez felt he had little choice other than to risk it all and cross the desert into Chile. He wrapped his injured feet in two layers of socks, which he wore with a pair of worn-out flip flops.

The Route of the ‘Chuteros’

14 I N S I G H T November 5 – 11, 2021

ALL PHOTOS BY CESAR CALANI COSSO/THE EPOCH TIMES

Illegal migrants are intercepted by soldiers and questioned after crossing the border into Chile on Oct. 26, 2021.

The dividing line running north-south between Chile and Bolivia, where people cross illegally, is commonly known as the route of the “chuteros.”

That means “illegals” in Bolivian slang.

Contraband smuggling through the desert between the two nations, especially cars, is a well-established practice.

Miguel Flores has driven the route of the chuteros for years and said finding bodies in the desert, especially in the Coipasa salt flat, can happen.

“The chuteros will kill people and leave them [as a warning]. They are territorial, even with each other.”

Flores said some chuteros have branched out into human trafficking and offer transportation for illegals near parts of the border that aren’t patrolled.

“The chuteros just drop them [near the border] and the migrants get out and walk across.”

In July, Bolivian police caught three chuteros transporting 25 illegal Haitian immigrants along the Oruro-El Alto highway.

World Illegal Immigration

“We are looking for honest work [in Chile]. We want to find a better life for our families.”

Alberto Ochoa, illegal migrant

Like Crossing the Street Gonzalo Santander, a Chilean businessman from Santiago who buys and sells commercial minerals, told The Epoch Times he prefers to just “cross the street” into Pisiga, when there is nowhere to stay in Colchane.

“The military is occupying the entire town [Colchane] and there is nowhere to sleep. So I just crossed the road back into Bolivia to stay in Pisiga, it’s easy,” he said.

Santander usually crosses the border at Colchane and Pisiga in an official capacity for his work and

A group of 10 Haitian illegal migrants waits outside for a bus, heading to the city of Oruro, in Pisiga, Bolivia.

17.6°F 104°F The range of temperatures from night to day in the desert on the border shared

by Bolivia and Chile. It's also the driest non-polar desert on earth.

says he always sees people crossing illegally.

“I think this problem started when people [migrants] wanted to go north.”

Attributing the ease of illegal crossing to a lack of government support, Santander said, “This border is vulnerable.”

By contrast, he said the frontier between Chile and Peru, near Arica, is very well controlled.

People looking to cross illegally, north or south, have no choice but to traverse the high desert.

Santander also said Chile has too many such immigrants, which is the reason why the “system began to collapse” in his country.

Chile has 1.5 million immigrants—both legal and illegal—or 8 percent of the nation’s population, according to data from the office of foreign relations and migration.

Back at the border, illegal migrants crawl out of a steep trench dug by the Chilean military on their side of the “street” and are promptly intercepted by a truck full of soldiers.

From a distance, Silva and his companions watched the action and waited for their chance to cross.

“It may be difficult, but the only way for us is forward,” Silva said. ■ I N S I G H T November 5 – 11, 2021 15

PANDEMIC RESPONSE

CHILDREN AND VACCINES

After FDA's emergency authorization, a look at the evidence

✒ Text by Nathan Worcester 16 I N S I G H T November 5 – 11, 2021

With the CDC and FDA decisions all going Pfizer's way, the path appears clear for the widespread vaccination of young children throughout the United States.

PHOTO BY CHIP SOMODEVILLA/GETTY IMAGES

I N S I G H T November 5 – 11, 2021 17

News Analysis

T

he verdict is in—at least from the federal public health establishment.

On Nov. 2, Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention (CDC), recommended Pfizer-BioNTech’s RNA COVID-19 vaccine for children aged 5 to 11.

“CDC now expands vaccine recommendations to about 28 million children in the United States in this age group and allows providers to begin vaccinating them as soon as possible,” the CDC stated in an accompanying press release.

The move came after the Food and Drug Administration’s (FDA) Vaccines and Related Biological Products Advisory Committee recommended the approval of Pfizer-BioNTech’s RNA COVID-19 vaccine for children 5 to 11 on Oct. 26, under an emergency use authorization (EUA).

Three days later, the FDA issued an emergency authorization based on the committee’s recommendation.

With these decisions all going Pfizer’s way, the path appears clear for the widespread vaccination of young children throughout the United States.

In the days and weeks prior to Walensky’s an-

18 I N S I G H T November 5 – 11, 2021

“We’re never going to learn about how safe the vaccine is unless we start giving it.”

Eric Rubin, member, FDA advisory committee

nouncement, the Biden administration seemed confident that the pharmaceutical giant would win: On Oct. 20, it released its fact sheet on the prospective rollout of the drug, stating that “the Administration has procured enough vaccine to support vaccination for the country’s 28 million children ages 5-11 years old.”

On Oct. 28, Pfizer announced that it had sold 50 million doses of its pediatric vaccine, deliverable

by April 2022, to the U.S. government.

“Our planning efforts mean that we will be ready to begin getting shots in arms in the days following a final CDC recommendation,” the Biden

FROM LEFT: JEFF KOWALSKY/AFP VIA GETTY IMAGES; INA FASSBENDER/AFP VIA GETTY IMAGES

A tray with syringes filled with the PfizerBioNTech COVID-19 vaccine to be used for children aged 5 to 11 at Child Health Associates in Novi, Mich., on Nov. 3, 2021.

administration’s fact sheet stated.

In its press release following Walensky’s Nov. 2 recommendation, the CDC stated that “distribution of pediatric vaccinations across the country started this week, with plans to scale up to full capacity starting the week of November 8th.”

The FDA advisory committee’s Oct. 26 recommendation was, we were assured, wholly scientific. After debating the evidence, including some results from an ongoing clinical trial of the Pfizer-BioNTech vaccine, panelists voted 17–0, with one abstention, to confirm that the benefits of two-course vaccination outweigh the risks in children 5 through 11.

Yet a few memorable sour notes marred the day’s presentations.

In one widely circulated comment, panelist Dr. Eric Rubin, editor-in-chief of the New England Journal of Medicine, said safety data are still lacking—but “that’s just the way it goes.”

“We’re never going to learn about how safe the vaccine is unless we start giving it,” he said, adding that knowledge about rare vaccine complications was acquired the same way in the past.

In an email to The Epoch Times, Rubin defended his comments, writing: “The clinical trial of the Pfizer-BioNTech COVID-19 vaccine in children showed no adverse events. All data to date indicate

A Nature study found that the proportion of children aged 5 to 9 who die from COVID19 is just 0.001 percent, or less than 1 in 100,000.

INA FASSBENDER/ AFP via Getty Images "

143

The number of deaths related to COVID-19 in children ages 5 through 11.

Roughly twothirds of those hospitalized had one or more underlying comorbidity.

that it is safe. It will prevent the hospitalization of children with severe disease, as it does with adults.

The vaccine works, and saves lives.”

Concerns about long-term safety data partly motivated the panel’s one abstention, from Dr. Michael Kurilla of the National Institutes of Health.

Let’s cut through the noise: What exactly is the case for vaccinating young children—and what’s the case against it?

Risks From COVID-19 for Young Children The risks of death and serious illness from COVID-19 among young children are one key point of contention.

The FDA’s own briefing modeled scenarios for relative risks of serious illness or death from COVID-19 and serious illness or death from just one possible risk—namely, heart inflammation.

Relying on real-world data from individuals 20 years of age or older during the Delta wave, they assumed that the vaccine was 70 percent effective against COVID-19 and 80 percent effective against hospitalization.

In its briefing to the FDA, Pfizer stated that COVID-19 was among the top 10 causes of death in children aged 5 to 14 between January and May 2021, referencing an analysis from the Kaiser I N S I G H T November 5 – 11, 2021 19

The Lead Vaccines

Family Foundation.

The CDC has noted that more than 94 percent of COVID-19 deaths included other comorbidities, with an average of “4 additional conditions or causes per death.”

Citing a research letter that analyzed CDC data, Pfizer’s FDA briefing counted 1.8 million cases and 143 deaths related to COVID-19 through Oct. 14, 2021, and 8,622 hospitalizations through Sept.

18, 2021, in children ages 5 through 11—reflecting a vanishingly low risk of serious illness or death in that population.

Notably, while the briefing didn’t specify how many of the children who died had serious comorbidities, roughly two-thirds of those hospitalized had one or more underlying comorbidity.

Researchers have consistently found that the danger of COVID-19 to young children is very low.

A Nature study estimating the COVID-19 infection fatality rate (IFR), or the proportion of those who die from infection, found an IFR of just 0.001 percent in children aged 5 to 9—less than 1 in 100,000.

Researchers have consistently found that the dangers of COVID-19 to young children are very low.

While Rubin told The Epoch Times the clinical trial data didn’t identify any adverse events in children ages 5 to 11, the FDA’s own briefing document from Pfizer detailed a few, including 13 cases of lymphadenopathy, or lymph node swelling.

Notably, the trial didn’t detect any heart inflammation, a concern for young people receiving the vaccine.

However, Pfizer’s FDA briefing document stated that “the number of participants in the current clinical development program is too small to detect any potential risks of myocarditis [heart inflammation] associated with vaccination.”

Some physicians have spoken in favor of administering the vaccines, even to their own young children.

“I am a board certified immunologist. My wife 20 I N S I G H T November 5 – 11, 2021

“I don’t think children should be vaccinated for COVID. I’m a huge fan of vaccinating children for measles, for mumps, for polio, for rotavirus, and many other diseases, that’s critical.

But COVID is not a huge threat to children.”

Slowing the Spread?

Given the low rates of serious illness and death among children, a particularly key justification for vaccinating them is reducing the rate of community transmission.

Children, Pfizer’s FDA briefing claimed, are “important reservoirs of SARS-CoV-2 transmission and may become a primary driver of the pandemic in the near future.”

Yet researchers generally haven’t identified children—particularly young children—as key sources of community transmission.

One observational study in the Journal of the American Medical Association suggests that children up to the age of 9 attending school weren’t major contributors to COVID-19 spread, although the study’s findings on teenagers were more equivocal.

A 2020 meta-analysis, or analysis of multiple studies, on COVID-19 susceptibility among young children and adolescents concluded that susceptibility was lower in those groups than in adults

Dr. Martin Kulldorff, Harvard University professor of medicine.

CLOCKWISE FROM LEFT: THÉRÈSE SOUKAR/CC BY-SA 4.0; SARAH SILBIGER/GETTY IMAGES; JEFF KOWALSKY/AFP VIA GETTY IMAGES

Risks From the Vaccine

is a pediatric ER physician. I’ve followed #COVID vaccine data in teens & adults, read Pfizer safety/ efficacy data in 5-11 year olds & listened to FDA discussion. We will vaccinate our 8 & 11 year old children w confidence & gratitude,” Dr. David Stukus, a professor of Clinical Pediatrics at Nationwide Children’s Hospital, wrote on Twitter.

Dr. Leana Wen, a CNN medical analyst and former president of Planned Parenthood, argued in The Washington Post that young children “need vaccines.”

Others have expressed misgivings, based in large part on what they see as insufficient safety data.

“I don’t think children should be vaccinated for COVID. I’m a huge fan of vaccinating children for measles, for mumps, for polio, for rotavirus, and many other diseases, that’s critical. But COVID is not a huge threat to children,” Dr. Martin Kulldorff, a Harvard University Professor of Medicine, said in an interview with Jan Jekielek on EpochTV’s “American Thought Leaders” program.

“It’s not at all clear that the benefits outweigh the risks for children.”

Rep. Andy Harris (R-Md.), a medical doctor who once served as chief of obstetric anesthesiology at the Johns Hopkins Hospital, voiced similar concerns to NTD about vaccine mandates.

“Well, we certainly don’t know what the longterm consequences of the vaccine are, because it’s only been a matter of months since children have gotten this vaccine, because of course, the early studies done now nearly a year and a half ago, were done only in adults,” Harris said. “We do know, [for] most children who are not particularly high risk, that the risk of COVID is actually not that high.”

The Lead Vaccines

and offered “weak evidence” that they play a lesser role in population-level transmission.

More recently, a 2021 meta-analysis on COVID-19 transmission clusters concluded that children infected in school “are unlikely to spread SARS-CoV-2 [COVID-19] to their cohabiting family members.”

The FDA seems to concede in its briefing that preadolescent children aren’t super-spreaders, noting that in schools, “transmission between school staff members may be more common than transmission involving students” and that “there is evidence that SARS-CoV-2 transmission is greater in secondary and high schools than elementary schools.”

What’s more, in the weeks since U.S. schools resumed in-person instruction, many for the first time since the pandemic began, hospitalizations of children with COVID-19 haven’t risen, as one might expect if children are major drivers of transmission.

In actuality, hospitalizations have rapidly fallen, according to Department of Health and Human Services data.

Should it continue, this trend would make it even harder to justify vaccination of children 5

to 11 according to the FDA’s own risk-benefit assessments, most of which are predicated on the COVID-19 incidence and hospitalization rates in early September at or near the peak of the Delta variant surge.

Additionally, new research suggests that vaccinated individuals have the same likelihood of spreading the COVID-19 Delta variant within their households as unvaccinated individuals, raising further questions about the effectiveness of vaccinating children if slowing the spread is a key aim.

With these facts in mind, it seems difficult to state conclusively that vaccinating young children would make much of a difference at all when it comes to COVID-19 transmission.

It's reported that numerous voters on the Food and Drug Administration’s advisory committee have direct Pfizer ties.

$10.8

million

Money and Influence The current push for mass vaccination of our children seems to have multiple, often overlapping motivations—some more understandable than others.

For many, genuine concern about illness, hospitalization, and death in young COVID-19 patients is no doubt the predominant factor—particularly after months of media coverage on the dangers of the CCP virus, leading viewers of outlets such

THE AMOUNT

spent by Pfizer for lobbying in 2020, making it the 25th largest lobbyist in the United States.

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political donations.)

Yet Pfizer’s lobbying still falls short of the big pharma trade group Pharmaceutical Research & Manufacturers of America. That organization was the third-largest lobbying group in the United States in 2020, spending $25,946,000 according to Open Secrets.

Other motivations seem to go beyond the purely medical and financial.

Control For the globe-trotting, technocratic class James Burnham identified as the “managerial elite,” power may be an end in itself, with compliance a necessary means to that end.

Thus, in New York City and many other jurisdictions, the vaccine passports that people aged 12 and older (and soon, perhaps, 5 and up) need in order to access indoor restaurants, gyms, and other spaces don’t recognize natural immunity as an alternative to vaccination—a policy at odds with the way the CDC, the Army, and other entities have approached immunity in the past.

In Israel, meanwhile, individuals who have received “green passes” through vaccination are losing them six months after their vaccine’s second dose, necessitating a booster shot to retain access to many indoor venues. While this policy may

A key justification for vaccinating children is that it may reduce the rate at which COVID19 spreads, yet researchers have generally not identified children as key sources of community transmission.

CLOCKWISE FROM LEFT: CHIP SOMODEVILLA/GETTY IMAGES; JENS SCHLUETER/GETTY IMAGES; INA FASSBENDER/AFP VIA GETTY IMAGES

as CNN and MSNBC to have a less accurate understanding of the COVID-19 death rate than viewers of more conservative outlets such as Fox News and OANN, according to a poll by Rasmussen. And many very well-informed individuals, such as the doctors quoted above, say they intend to vaccinate their children.

At the same time, it’s hard to ignore Big Pharma’s big money and influence.

As mentioned above, the Biden administration has already purchased 50 million of Pfizer’s pediatric doses, which are one-third the size of the company’s adult dose.

According to Endpoints, “the cost of these 50 million doses was not initially made available, although the cost of the Pfizer vaccines has steadily risen for the US,” hitting $24 per dose in July 2021 versus roughly $19.50 per dose in July 2020.

Open Secrets reports that Pfizer alone was the 25th largest lobbyist in the United States in 2020, spending more than $10.8 million that year alone. (That’s in addition to the $381,930 Pfizer-affiliated individuals donated to Joe Biden’s presidential campaign, the $119,768 such individuals donated to Donald Trump’s campaign, and the $47,869 such individuals donated to Bernie Sanders’s campaign, among many other

The Lead Vaccines

Children are ‘important reservoirs of SARSCoV-2 transmission and may become a primary driver of the pandemic in the near future,’ Pfizer’s FDA briefing claimed. arise partly out of doubts about the effectiveness of the vaccine, the drive for compliance doesn’t stop there. Those who have recovered from COVID-19, and can therefore be expected to have natural immunity, are now being required to receive one dose of vaccine to keep their green passes.

Authorities there haven’t yet stated whether people will need more boosters in the future to retain freedom of movement.

Dr. Jay Bhattacharya, a professor of medicine and health policy at Stanford University, in an interview with The Epoch Times, lay the blame for vaccine policy on deference to experts who seek control.

“Much of American policy has not been conducted by politicians. It’s been conducted by the science class—you know, a class of scientists,” he said.

“And the politicians have essentially said, I’m gonna relegate the powers I have off to these scientists who are advising me, and we’re gonna follow the science, right?

“What does it mean other than, I’m gonna abdicate my responsibility as a politician to this group of experts, and I’m gonna do whatever these experts say? I think that is not a liberal social order. What that is very different than that. Again, I would call it a biosecurity state aimed at control.

Now it has not been as extreme as Australia, but that’s essentially what we’ve had the last 18, 19 months.”

Some college students, representing a group only a few years older than the children now on the path to vaccination, see the role of government or corporate compliance in the campaign for vaccination—including the vaccine mandates common across many universities.

Juliana, a college student at a university that has imposed a vaccine mandate, agreed that there is a dimension of social or political control to the policy. Juliana and the other students quoted in this article did not want their last names printed due to concerns about personal or professional reprisal for speaking out on the COVID-19 jabs.

“I think it’s also pretty significantly just a P.R. move by the university administration, just try-

ing to cater to what the broader culture wants it to comply with,” she said, adding that most of her fellow students unquestioningly comply.

Though Juliana has requested a religious exemption, she feels her institution has deliberately made it difficult to receive such exemptions.

Graham and Noah attend a school with no vaccine mandate—but the students are still encouraged to get jabbed.

“I think the main rationale for emphasizing vaccines at our school is we don’t want to hit a certain number of cases where we all get shut down,” Graham said.

“I think any institution inherently wants more power and more control,” Noah said. “I think they’re trying to push how far they can extend their power over people’s lives.”

Enthusiasts for globalism speak of the need to “build back better,” which means, in part, moving toward a world without borders, whether between nations or between our bodies and a corporatist state. Perhaps this spirit informed Central Bank President Christine Lagarde in saying that “the whole world” needs to be vaccinated, lest COVID-19

The Biden

administration has already purchased 50 million doses of Pfizer’s pediatric vaccines.

In the weeks since U.S. schools resumed in-person instruction, many for the first time since the pandemic began, the number of hospitalizations of children with COVID-19 hasn't risen.

I N S I G H T November 5 – 11, 2021 23

S U C O F NI INDONESIA FLOODS A family evacuate from their flooded home following heavy rain in Bandung, Indonesia, on Nov. 3, 2021. Thousands of homes were damaged as heavy rains caused flooding and a landslide.

PHOTO BY TIMUR MATAHARI/AFP VIA GETTY IMAGES

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A Trump sign and an "In God We Trust" sign in Ellijay, Ga., on Aug. 18, 2021.

THE TRUMP EFFECT P OL I T IC S

1 YEAR ON

By Jackson Elliott

NATION | IN FOCUS

I PHOTOS BY JACKSON ELLIOTT FOR THE EPOCH TIMES

Atlanta resident Norm Hatke (L), Jon Oudin (C), and Fran Diemer chat at the Trump Store in Ellijay, Ga., on Aug. 18, 2021. n many places in rural America, it seems the 2020 election never ended. “Trump 2020” signs still dot the roadsides, Trump flags still flutter, and Trump hats are still in style.

Unlike previous presidential candidates who disappeared after a lost election, former President Donald Trump is still loved by his supporters.

It’s not just a private sentiment; the market for Trump merchandise is still strong. Across the country, many momand-pop stores continue to sell Trump gear of all kinds.

The reasons for Trump’s continued popularity are on full display in Ellijay, Georgia, a small mountain town with a population of 1,736. There, Alicia Dougherty and Jon Lock run the Ellijay Trump Store.

The store stands at the corner of a red brick strip mall beneath a fabric sign displaying Trump and former First Lady Melania Trump with an American flag.

Dougherty said she was somewhat surprised customers still came in months after the election.

“We’re just winging it,” she said. “And we knew the election was going to be a cut-off point. And the inauguration was another cut-off point.”

The Ellijay Trump Store isn’t unusual.

NEARLY A YEAR AF TER THE 2020 ELECTION, STORES SELLING TRUMP MERCHANDISE ARE STILL FLOURISHING

Locally made Trump cutting boards at the Ellijay Trump Store in Ellijay, Ga., on Aug. 18, 2021.

Across America, at least 20,000 similar small stores buy and sell Trump apparel, said Ron Solomon, the owner of nationwide Trump apparel company Maga Mall.

Trump Treasures The walls of the Trump Store are packed with merchandise ranging from locally carved Trump cutting boards and wooden gun cases to Trump shirts, stickers, hats, and flags. The well-arranged displays show passion for Trump, patriotism, and faith.

Two life-sized cardboard cutouts of Trump are popular among customers for photo ops, Dougherty said.

The store boasts visitors from across America, she said. They come from Florida, Maine, California, and everywhere in between.

“People still love Trump,” she said.

“Every time someone’s in from out of town, they come in and get stuff for their family to take home.”

Although sales died off somewhat in February, they’ve risen since March, Dougherty said. A normal week nets the Trump Store 200 to 400 customers.

For many people, the store feels like a safe space to talk politics, share news, and spend time together, she said. Some I N S I G H T November 5 – 11, 2021 27

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and he’s got all the money that he could ever want. So if you have both of those, why would you want to take on that role, unless you just love this country and love the people?”

“He stands for what he says, he’s a man of faith, he’s got real character,” Awen said. “He’s done the most for our country in a long time.”

Somehow Trump seems to be everything at once to his supporters. But most importantly, he represents hope for change in an America where people don’t trust each other anymore.

For many people, the store feels like a safe space to talk politics, share news, and spend time together.

Despite their appreciation for a man who speaks his mind no matter the consequences, many Trump Store visitors said they felt unwilling to wear Trump apparel in some places because they could face attacks from political radicals.

The Trump Store has already faced discrimination from Google because of its politics, Lock said.

Google removed the Ellijay Trump Store’s online business profile from its website, he said. Moments after he entered a code from Google to register as a business, he received an email telling him the store had been flagged for suspicious activity.

As of today, the store doesn’t appear when “Ellijay Trump Store” is typed in Google’s search engine or Google Maps.

In Atlanta, Oudin said he felt afraid to wear a MAGA hat in public because people might spit on him.

“We know perfectly well if I wore this hat down in Midtown or Buckhead right now, that’s exactly what would happen,” he said.

He cited several famous incidents in which Trump fans were harassed or attacked in public.

“I don’t see any of my peers, for example, belittling a Biden supporter or trampling their sign,” Oudin said. “I think we’re more respectful toward our fellow citizens, regardless of their stances.”

Employee Fran Diemer waits for customers in the Ellijay Trump Store beneath a row of flags, in Ellijay, Ga., on Aug. 18, 2021.

SCOTT OLSON/GETTY IMAGES

customers spend hours talking with Trump Store employees.

Before the election, customer numbers were even higher, Dougherty said. Lines stretched around the mall. Although the store hasn’t gotten these kinds of numbers since, business is still brisk.

According to Dougherty, Lock, and many of the store’s customers, the 2020 election was stolen from Trump by a leftwing conspiracy. For them, the veracity of this seems beyond doubt.

“We know Trump won the election because it was rigged,” said local Kurt Awen.

“The election was rigged,” said local Carl Taylor.

Despite the certainty with which they pronounce the nationwide collapse of America’s electoral system, Trump Store customers seem surprisingly relaxed about the situation.

Solomon said that he and other Trump supporters believe the turnout in favor of Trump and pro-Trump Republicans will be so massive in the next two elections that it will overwhelm any future attempts at election fraud.

Solomon said he also thinks state changes to election laws will help prevent fraud. He’s very sure that Trump and pro-Trump Republicans will win next time.

“We’re going to take back the Senate, we’re going to take back the House, and if Trump runs, he’s going to win,” he said.

To many Trump Store visitors, Trump is more than a presidential candidate.

They say he’s a moral leader who has a quality that few Americans and fewer politicians have: He speaks his mind.

Many visitors also said Trump’s wealth showed his moral character. Whatever the reason Trump ran for president, it wasn’t to get rich.

“It’s got to be just because he relates.

He’s not a career politician. He’s just a regular guy who loves America,” Jon Oudin said. “Does he speak basically, openly about everything? Yeah, and [that] irritates a lot of people. But I think rural America, especially towns like Ellijay, we needed that. Because we’re sick and tired of politics.”

“He relates to people and he loves this country,” Atlanta resident Norm Hatke said. “He’s in it for the people. It’s his values, I’m going to say it’s his family values.

He’s got all the power that he can muster,

Guests shop for merchandise before the start of a rally with former President Donald Trump at the Iowa State Fairgrounds in Des Moines on Oct. 9, 2021. It was Trump's first rally in Iowa since the 2020 election.

Trump fans fear harassment from people who dislike Trump, but the fear also goes the other way.

Linda, another local, who didn’t want her last name published, said she didn’t like the division Trump has caused or the continued insistence by his supporters that he won the election.

“We honor people who adore him. We would never make someone feel bad because they supported Trump,” she said. “But we feel like we can’t speak how we feel.”

Linda said she felt that if she spoke against Trump, she would face repercussions in Ellijay and from those close to her.

Some of the cruder merchandise in the Trump store might bother people who disagree with Trump or like other politicians. The counter prominently displays an “[expletive] Biden” sticker. The shop’s best-selling item is toilet paper with Nancy Pelosi’s face on it, Dougherty said. Toilet paper with Joe Biden’s face is a close second.

But “at the end of the day, we’re nice people,” Dougherty said, referring to the residents of Ellijay. “We’re respectful, and that’s why everybody wants to move here.”

In 2019, China was granted permission to access Bolivian beef and, in just one year, China became that country’s largest meat-export market.

PHOTO BY RONALDO SCHEMIDT/ AFP VIA GETTY IMAGES

B OL I V I A

CHINESE DEMAND FUELS BOLIVIA'S WILDFIRES

A sharp increase in demand for beef from China is pushing Bolivia's cattle ranchers to expand pastures—by any means necessary

By Autumn Spredemann

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World Beijing's Influence

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30 I N S I G H T November 5 – 11, 2021

sons that destroyed more than 24 million acres of Amazonian rainforest in Bolivia.

The loss of territory to slash-and-burn farming spiked dramatically in 2019 and 2020, according to data released by the Wildlife Conservation Society and the Fundación de Amigos de la Naturaleza.

Julio, 33, a volunteer firefighter and former Army Search and Rescue team leader, told The Epoch Times, “That deal with China killed our jungle.”

He asked for his full name not to be published because he works for the same

10,000 TONS BE F X P OR TS f r o m B o li v a t o C hin a v e in c r e a s e d d r a m t i c a l ,y f r om offf tons i efmr to mfofff tons in efefg

80% CHIN A r e c i ve d o p erc nt of al the b ef ex p or te d f r o m B o li v a .

Santa Cruz department is the powerhouse beef exporter of Bolivia. Accordingly, it also has the second-largest number of wildfires of any state in the country.

socialist party that was in power under Morales.

In August 2019, Julio fought fires in the Chiquitania region of Santa Cruz and was horrified by what he witnessed. “I saw the bodies of animals that tried to escape the fire. The ones that survived died in two to three days because there was nothing for them anywhere. Everything was burned.”

Santa Cruz department is the powerhouse beef exporter of the nation, with an estimated 24,000 livestock producers.

Accordingly, it also has the second-largest number of wildfires of any state in the country. This year, the states of Santa Cruz and Beni accounted for 94 percent of all burned areas, with 835,216 acres lost in Santa Cruz by July of this year.

Bolivian economist and agricultural development educator Eduardo Hoffmann told The Epoch Times that Bolivia’s beef deal with the CCP has been “a disaster.”

“When you say pros and cons, there really are no pros unless you’re the one making money off of it,” he said.

Only the agribusiness industry and the government make money off the deal, he said, despite that the government paints a picture of an economic windfall for everyone. Hoffman also was candid when asked if he thought there was a link between the CCP export deal and the increase in territory lost to wildfires since 2019.

“There’s no question whether there’s a link. It’s absolutely related.”

It’s legal for farmers and ranchers to use slash-and-burn due to a law Morales enacted on April 25, 2019, around the time of the signing of the trade deal with the CCP. The law allows burning permits under what the government, termed an “integral fire-management policy.” Through this policy, the government gives permits that are good for three years for farms with agricultural prospects and five years for farms with livestock assets. The law also carries a built-in incentive of reduced fines for those who burn land without government authorization, so long as the fines are paid in a timely fashion.

Back at the ranch, Vargas remained ambivalent about the wildfires. “What can be done? Are we supposed to turn away money?” he said while watching cows graze in his field. “Sure, [the fires] are bad every year, but they always go out eventually.”

The office of the Minister of Foreign Trade and Integration declined to comment.

FROM TOP: SHUTTERSTOCK; SHUTTERSTOCK; CESAR CALANI COSSO/THE EPOCH TIMES

oaring demand from China for Bolivian beef is fueling wildfires and deforestation as cattle ranchers slash and burn jungle in the Amazon ecosystem to make way for cattle pastures.

The problem has escalated since April 2019, when then-President and leader of the Movement Toward Socialism party (MAS) Evo Morales signed an agreement with the Chinese Communist Party (CCP).

The deal tripled the total demand for Bolivia’s beef exports.

In August that year, Morales announced the inaugural shipment of two containers of beef to China, despite an official report showing that 38,610 acres of the Chiquitania region of Santa Cruz had already burned due to the shift from land cultivation to the creation of cattle pasture to meet Chinese demand.

In December, the Ministry of Defense reported that 4,472 families suffered losses from the fires that followed, along with 98 related injuries, one death, and 40 million trees incinerated.

In the municipality of Porongo, which lies on the outskirts of the western suburbs of Santa Cruz, wildfires are not uncommon.

Manuel Vargas, 44, a cattle farmer who lives on a 24-acre farm, uses slash-andburn to clear the way for cow pastures.

“Cows need to eat, and more cows means more land to clear,” Vargas told The Epoch Times, shrugging. “It’s expensive to keep cows, so we need to make money.

I’m a small rancher compared to others. I don’t have machines to clear land, so fire is the fastest way to create more land for the cows.

“I’m just one man with my two sons.

How could we possibly clear the land any other way?”

Beef exports to China have increased dramatically, from 3,000 tons in 2019 to 10,000 tons in 2020, according to the Bolivian Institute of Foreign Trade (IBCE).

China received 80 percent of all the beef exported from the country, according to IBCE. Chinese Ambassador to Bolivia Huang Yazhong said in 2019 that China had been granted permission to access Bolivian beef and, in just one year, China became that country’s largest meat-export market.

According to one report, the rise in beef exports coincided with two wildfire sea-

Virginia Gov.-elect Glenn Youngkin (R) and Lt. Gov.-elect Winsome Sears (L) will be taking their oaths of office in January 2022, after their victories in the Virginia gubernatorial race on Nov. 2, 2022.

PHOTO BY ANNA MONEYMAKER/GETTY IMAGES

E L E C T ION S

REPUBLICANS GAIN 2021 VICTORIES Analysts see voters rejecting the left’s cultural and economic agenda but Democrats drawing wrong lessons from defeat

By Mark Tapscott

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cal persuasions are fed up with the Left’s social and cultural extremism, and they’re voting like it,” added Anderson, who warned back in June that CRT would be a decisive issue.

Republican strategist Brian Darling, former counsel to Sen. Rand Paul (R-Ky.), told Insight the results “are a sign that the woke politics of Democrats have driven away swing voters. Just look Republicans have regained a narrow 51–49 majority in the at the treatment of Virginia House of Delegates and flipped seven seats from Democrats in the process.

Sens. [Kyrsten] Sinema [D-Ariz.] and [Joe] flipped from Democrats to Republicans Manchin [D-W.V.] to see how Democrats Tuesday, while the GOP regained state are treating moderates while most Demlegislative seats earlier in the year in ocratic voters are center left.”

Connecticut and Iowa. The party also Darling said “already, we are hearing elected a new member of the Pennsyl- that Democrats are learning the wrong vania State Supreme Court. lessons from the election. The Left is Republican State Leadership Commit- arguing that they just needed to pass tee (RSLC) Chairman Lee Duncan called more spending bills and the American the state-level wins “further evidence people were wrong to believe that public that the socialist policies being pushed education for kids is migrating towards a

by Democrat-controlled Washington are hate-America style CRT.” turning off the very constituencies they As a result, Darling expects “the 2022 claim to be fighting for.” midterms to be a political Elections are almost nevdisaster for Democrats beer decided by a single factor cause the agenda has been and Nov. 2, 2021, is no excepcaptured by progressives tion, according to campaign intent on driving the party strategists interviewed by PERCENT into the ground. They will Insight Magazine. learn all the wrong lessons Virginia was ground-zero from this election day.”

G L E N YO U N G K I N , W in s o m e S a r s , for a gathering nationwide Democrat strategist Kevin a nd Ja s on Mi ya r e s campaign among parents Chavous remains optimistic de f ate d D e m o c r at ic outraged by public schools about his party’s future, but r i va ls by a n ver a ge indoctrinating their chilhe told Insight that Demoof nly off dren with lessons based on crats can no longer depend p e r c n t a g e p o in t s .

Critical Race Theory (CRT), on the Trump factor. according to Heritage Ac“The Virginia results show tion for America Executive Director us that we can no longer expect to win racJessica Anderson. es based on anti-Trump sentiment alone.

“Last night, Virginia led the nation and Trump lost already, and we must move on took the critical first step in rejecting the as a party and find new ways to energize Left’s cultural and economic agenda,” An- our voters,” Chavous said. “Democrats derson told Insight. “When parents see how need to give voters a reason to vote for us woke policies hurt their children and their by telling them what we will do if elected.” communities, they spring into action, and Asked Wednesday if Democrats conwe saw this first-hand in Virginia.” gressional strategy will now change, “Elected officials across the country Speaker of the House Nancy Pelosi (D-Cashould take note: Americans of all politi- lif.) said simply, “no.”

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HEN GLENN YOUNGKIN, Winsome Sears, and Jason Miyares take their oaths of office next January in Richmond, it will mark the first time since 2009 that Republicans will be Virginia’s governor, lieutenant-governor, and attorney general.

The victorious GOP trio’s upset victory on Nov. 2 came just a year after President Joe Biden swept Virginia by 10 points. The trio defeated Democratic rivals by an average of only 1.66 percentage points, according to the latest available official returns.

But that narrow margin was achieved despite multiple campaign appearances in the state for Youngkin’s opponent, former Gov. Terry McAuliffe, by Biden, Vice-President Kamala Harris, and former President Barack Obama.

Republicans also regained a narrow 51-49 majority in the Virginia House of Delegates and flipped seven seats from Democrats in the process.

The Virginia results led an overwhelming GOP win across the country that sets the stage for the 2022 mid-term election when control of Congress during the last two years of Biden’s term will be decided.

Harris in a campaign speech during McAuliffe’s final push declared the election “a bellwether for what happens in the rest of the country in 2022 and 2024 and beyond.” Had she known in advance what would happen Tuesday, Harris likely would not have said that.

In solidly Democratic New Jersey, the contest between incumbent Democratic Gov. Phil Murphy, who was heavily favored to win big, and Republican Jack Ciattarelli was too close to call the morning after voting closed.

Ultimately, Murphy eked out a victory thanks to late returns from Bergen County, a heavily Democratic area. Polls before Tuesday had Murphy up by double-digits.

Another strong indicator of a Republicans grassroots victory in depth nationwide came in multiple state legislative races where the party’s candidates won seats previously long-held by Democrats.

Besides the Virginia flips, Texas Republicans switched three state legislative seats from Democrats, including one in a heavily Hispanic district in San Antonio that Biden carried by 14 points in 2020.

And two New Jersey Assembly seats

Focus Supply Chain

CLIMATE POLICY

Climate Financing to Affect Every Part of Economy

By Petr Svab

President Joe Biden signs executive orders to address climate change, in the State Dining Room of the White House on Jan. 27, 2021.

PHOTO BY ANNA MONEYMAKER-POOL/GETTY IMAGES

I N S I G H T November 5 – 11, 2021 33

In Focus Climate Financing

Estimating how much changes in the climate would cost a particular business years into the future is far from an exact science.

T

34 I N S I G H T November 5 – 11, 2021

$54

BILLION The estimated loss from “transition risks”—the risks posed by changes in government regulations and consumer behavior, for example— according to a Carbon Disclosure Project survey of Fortune 500 companies.

Department, for example, plans to allow pension fund fiduciaries to consider “ESG”—environmental, social, and governance—criteria in investment decisions. Aside from “climate-related financial risk,” such criteria would also include “racial and economic justice considerations” and “sustainability.”

The Biden plan received praise from progressive environmental groups.

“The strategy released by the White House today lays critical groundwork for fulfilling President Biden’s promise to tackle the threats that climate change poses to our economy,” Sierra Club fossil-free finance campaign manager Ben Cushing said in an Oct. 15 statement.

Yet, estimating what changes in climate will or won’t cost a particular business years into the future is far from an exact science, the experts warn.

Impact on Global Temperatures?

While many climatologists agree that Earth’s changing climate will cause serious damage to people, such as through more severe weather events, the scientific modeling that guides their warnings offers a broad range of estimates that are based on a number of assumptions. Economists then make further assumptions on how

CLOCKWISE FROM LEFT: DENIS LOVROVIC/AFP VIA GETTY IMAGES; HERITAGE.ORG; AEI.ORG; SAMIRA BOUAOU/THE EPOCH TIMES

he Biden administration’s plan to impose a slew of financial regulations in order to counter climate change would end up having little effect on reducing global temperatures. But the measures would be quite effective at hurting the U.S. economy, expanding government authority, and moving the country toward totalitarianism, according to several experts.

President Joe Biden’s plan, sketched out in a recent “roadmap” White House report, would infuse climate change projections into decisions across the financial industry. Applying for a mortgage or other loans? The bank would consider the “climate risk” of underwriting it. Taking out an insurance policy? “Climate risk” would play into your premium. Putting money into a pension or investment fund? The fund managers would be free to consider “climate risk” in deciding where to invest your money. Buying stocks on your own?

Public companies would need to divert part of their attention to explaining any “climate risks” they face. Applying for a government contract?

Prepare to justify your carbon footprint.

In some areas, the administration combines climate change with a lineup of other issues. The Labor

In Focus Climate Financing

these scenarios from climate models could affect the economy, and how the economy would respond, followed by how the government would respond, and how the economy would respond to the government response, etc.

“The evaluation of such ‘risks’ would be largely arbitrary given that the ‘correct’ assumptions are very far from obvious,” Benjamin Zycher of the pro-market think tank American Enterprise Institute said in Senate testimony earlier this year.

If companies are to perform a serious evaluation of such risks, “the level of detail and the scientific sophistication that would be needed to satisfy such a requirement” would lead to reports spanning “thousands of pages, with references to thousands more” and would still end up “deeply speculative,” he said.

David Burton of the conservative Heritage Foundation think tank predicted much the same regarding climate risk disclosures.

Companies would need to “develop climate modeling expertise, the ability to make macroeconomic projections based on these models, and then make firm-specific economic assessments based on these climate and economic models,” he said in a June letter to the Securities and Exchange Commission (SEC).

Meanwhile, government regulators would need to develop the capacity to police these disclosures.

Currently, federal agencies engaged in financial regulation have nowhere near the expertise to tell genuine climate science from high-flown gobbledygook, both experts indicated.

“The premise that this ‘disclosure’ requirement would facilitate improved decision-making by investors in the financial sector is difficult to take seriously,” Zycher said.

Chances are that companies won’t actually try to genuinely guess what their risks from climate may be, he said.

“The Federal Reserve and financial institutions will be driven to adopt assumptions (or to retain consultants who will do so), minimizing the degree to which their analyses might subject them to political attacks, adverse regulatory actions, and litigation,” Zycher said.

Companies are likely to adopt whatever climate effect assumptions are endorsed by the government, such as through the Environmental Protection Agency (EPA), he said.

“They thus will be led toward analytic homogeneity, yielding a very real danger of an artificial ‘consensus’ among financial institutions, regardless of the actual evidence, and perhaps largely inconsistent with it,” he said.

The effects of all such efforts on climate, even in the most optimistic scenario, would amount to virtually nothing, he said.

“There is no doubt that these rules will have a disproportionate adverse impact on small issuers since regulatory costs do not increase linearly with size.”

David R. Burton, senior fellow, The Heritage Foundation

“The evaluation of such ‘risks’ would be largely arbitrary given that the ‘correct’ assumptions are very far from obvious.”

Benjamin Zycher, senior fellow, American Enterprise Institute

“The effect of the ESG index is the vesting of as much capital in these corporations as possible, while eliminating producers deemed either unnecessary or inimical.”

Michael Rectenwald, former professor, New York University

“If we apply the Environmental Protection Agency climate model ... net-zero U.S. GHG [greenhouse gas] emissions effective immediately would yield a reduction in global temperatures of 0.104 degrees C by 2100,” he said.

That’s not to say such measures would have no impact at all, however.

Cost of the Plan Mandating all sorts of climate assessments would obviously cost money, the experts pointed out.

“There is little doubt that these costs will amount to billions of dollars,” Burton said.

“The expenses associated with generating this verbiage will harm investors by reducing shareholder returns.”

The rules will produce a whole class of climate consultants and compliance specialists who will use part of their paychecks to lobby for a continuance of the rules, he said.

Such rules would also make finance operations more opaque, the experts noted.

I N S I G H T November 5 – 11, 2021 35

In Focus Climate Financing

Public companies already have to disclose all facts “material” to their business, which means facts likely to affect a reasonable investor’s decision to act or not. If climate risks are indeed material, there’s no need for new rules as companies are already obligated to disclose them, Burton said.

“A requirement, whether formal or informal, that climate ‘risks’ be incorporated into the business decisions of financial institutions would weaken the materiality standard for disclosures by those institutions,” he said.

Such disclosures would further insulate management of public companies from responsibility—an area where they’re already coming up short, he argued.

“In large, modern corporations, there is a separation of ownership and control. There is a major agent-principal problem because management and the board of directors often, to varying degrees, pursue their own interest rather than the interests of shareholders,” he said.

So far, management can usually get away with its behavior as long as it has kept the company in the black. Mandating climate disclosures would enable them to use progress toward “largely unquantifiable” climate goals as an excuse for worse financial performance, he said.

Political Power

36 I N S I G H T November 5 – 11, 2021

Mark Thornton, economist, Mises Institute

“While approved corporate ‘stakeholders’ are not necessarily monopolies, the effect of the ESG index is the vesting of as much capital in these corporations as possible, while eliminating producers deemed either unnecessary or inimical.

ESG scores work to eliminate competition.”

Despite the administration’s talk of helping underprivileged communities, some of the experts pointed out that large corporations are the best positioned to deal with such climate regulations.

“There is no doubt that these rules will have a disproportionate adverse impact on small issuers since regulatory costs do not increase linearly with size,” Burton told The Epoch Times via email.

Just as the administration proceeds to pour trillions of debt dollars into the climate effort, many of the largest corporations are predicting a windfall from the climate push.

A 2018 survey of Fortune 500 companies by the Carbon Disclosure Project (CDP) found that the 81 U.S. companies that provided financial estimates expected a total of less than $56 billion in physical losses from climate change, such as from more severe weather. They estimated another more than $54 billion in losses from “transition risk,” such as government regulations and changes in

Mandating climate disclosures would further insulate the management of public companies from responsibility— an area where they’re already coming up short.

Brett Carlsen/ Getty Images"

FROM LEFT: BRETT CARLSEN/GETTY IMAGES; AL DRAGO-POOL/GETTY IMAGES; YUROMANOVICH/SHUTTERSTOCK

The new rules also would be quite effective at making the government more totalitarian, several scholars noted.

“This is all about the application of political power,” said William Anderson, professor of economics at Frostburg State University in Maryland.

He told The Epoch Times that the policy of stripping the oil industry, in particular, of capital would cause further disruptions to supply chains and cause worsening inflation, depressing Americans’ standard of living. The government and political activists could then turn around and “blame capitalism.”

“It would take a while to turn the United States into Venezuela, but it can be done.”

Michael Rectenwald, former New York University professor and an authority on corporate socialism, predicted the ESG disclosures would serve to signal one’s ideological compliance, similar to how shop owners in socialist countries would plaster their stores with political slogans, as described in the famous essay “Power of the Powerless” by former Czech President Václav Havel.

“Either don the right symbolics (the party slogans, or in this case, ESG index score) or face the consequences,” Rectenwald told The Epoch Times via email. “Incidentally, this accords with my arguments regarding what I have called ‘corporate socialism.’”

“These are types of issues which are wholly unsuited to the political process.”

In Focus Climate Financing

The government has a poor track record of addressing longterm problems such as climate change.

Government intervention also tends to work differently in practice than on paper.

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consumer behavior. Yet, they expected more than $450 billion in climate-related “opportunities.”

Even fuel companies predicted they’ll end up net beneficiaries of the climate push.

The Government Approach Some experts indicated that it’s not just the specifics of Biden’s plan, but the whole idea of fighting climate change through government fiat that is misguided.

The government has a poor track record of addressing long-term problems such as climate change, said Mark Thornton, an economist with the classical liberal Mises Institute.

“These are types of issues which are wholly unsuited to the political process,” he told The Epoch Times. “The market is really best suited to deal with this.”

He referred to an upcoming research paper looking at energy efficiency developments that show “the inducement to energy efficiency was started with the oil crisis” of the 1970s and organically produced “very significant technical efficiency because it’s aimed at economic efficiency,” he said.

On the other hand, he said, the paper shows that “shorter-term mandates have not been effective—that you’re putting in too many resources to get the types of results that you’re really trying to generate.”

Anderson concurs.

“How does the government work? It sets deadlines. It says, ‘OK, by this year, we’re going to have this. We’re going to start moving resources this way.’ Well, economies don’t work like that.”

It may be that electric cars, for example, will become cheaper than gas-powered ones, but it’s very expensive to push technology forward by mandate, Thornton noted. In fact, the mandate may redirect resources from a plethora of other innovation avenues that may offer an altogether different solution to cleaner transportation.

Government intervention also tends to work differently in practice than on paper, Thornton pointed out.

“Once you get these things started, we don’t know where they go, except they typically get worse,” he said.

The National Flood Insurance Program, for instance, was supposed to discourage people from building houses in flood-prone areas. In reality, it often does the opposite, subsidizing flood insurance for people who decide to live in a flood zone, according to a report by the left-leaning Brookings Institution. The government has spent tens of billions over the program’s existence since 1968, in major part to provide cheap flood insurance to well-off homeowners in coastal areas. A quarter of the explicitly subsidized policies went to vacation homes, one study found.

The same pitfalls would apply to attempts to plan the economy around the climate goals, Thornton suggests.

“We don’t have enough knowledge or information to know how all these things are going to work out.”

Biden’s climate finance plan “is a monument to that ignorance,” he said. ■ I N S I G H T November 5 – 11, 2021 37

S U C O F NI SCARY TREAT A brown bear eats a watermelon shaped like a piranha at La Aurora zoo in Guatemala City on Oct. 29. As part of the Day of the Dead and Halloween celebrations, zookeepers fed the animals with fruits decorated with terrifying images and gifts filled with cereals or grains.

PHOTO BY JOHAN ORDONEZ/AFP VIA GETTY IMAGES

38 I N S I G H T November 5 – 11, 2021

I N S I G H T November 5 – 11, 2021 39

Economic data provided by the Chinese Communist Party are made up of fake data while the real version is only available to Party officials.

PHOTO BY STR/AFP VIA GETTY IMAGES

40 I N S I G H T November 5 – 11, 2021

C H I N E S E E C ONOM Y

Why China’s Economic Figures Cannot Be Trusted

Christopher Balding, who taught economics in China for nearly a decade, explains why Beijing's official data should be taken with a healthy dose of salt

By Frank Fang & Jan Jekielek

THE EPOCH TIMES

I

n China, there are two “different sets of books” depicting the state of the country’s economy. One set conforms to the official line promulgated by the ruling Communist Party, but it’s made up of fake data. This version is public. The other set contains the real data, but this set can only be accessed by Party officials or bought on the black market.

That’s according to Christopher Balding, who taught economics at Peking University Business School in Shenzhen for nine years, until 2018. That year, Balding lost his post at the university after voicing concerns about Beijing’s censorship practices. He then left China, citing concerns for his safety.

While most people are familiar with the Chinese Communist Party’s (CCP) top-down censorship constricting the populace’s freedom of expression and access to information, they may not realize the extent of the censorship within the regime’s sprawling bureaucracy itself, said Balding, who now resides in the United States.

“There is also enormous censorship ... of how information gets conveyed upward,” he told EpochTV’s “American Thought Leaders” program.

“Nobody goes and tells their boss, ‘Hey, we had a bad year this year.’”

“Chairman Xi [Jinping] holds many titles. ... The only title that really matters is that he is the chairman of the Chinese Communist Party. ... Even the head of state is answerable to the [#CCP].”

Christopher Balding former professor, Peking University

I N S I G H T November 5 – 11, 2021 41

Special Report Chinese Economy

The Chinese Communist Party can resolve Evergrande's $300 billion in liabilities easily, but the real issue is whether people will continue to have faith in other sectors of the country's economy.

“Just to hear the confirmation that there was real data and fake data, I think, was quite eyeopening.”

42 I N S I G H T November 5 – 11, 2021

with air quality data could be telling, he said. Economic data provided by a province with a sizable steel manufacturing base could be cross-checked by analyzing the region’s air quality levels. If the province’s air quality is good, it’s likely that steel manufacturers have burned less coal. Thus, it would be hard to believe that the region had high levels of economic activity.

Evergrande While much has been postulated about whether the Chinese regime can or will rescue embattled real estate developer Evergrande, Balding believes the answer to be quite simple.

The CCP “absolutely can just make this problem go away very easily,” he said, noting Evergrande’s $300 billion in liabilities are a mere fraction of the country’s gross domestic product (GDP).

But the key question in this saga is whether the developer’s woes have metastasized to other sectors of the Chinese economy, such as retail and banking.

“The risk is not Evergrande itself,” Balding said.

“The real issue is [whether Beijing can] manage this so that people don’t lose faith in other parts of the Chinese economy, whether it’s real estate, whether it’s an aluminum supplier, whether it’s [a] cement company, whether it’s [a] bank.”

On Oct. 24, Evergrande announced that work had resumed at more than 10 property projects in six different Chinese cities, though the company hasn’t disclosed the number of projects it has suspended among about 1,300 real estate projects across the country.

FROM LEFT: NOEL CELIS/AFP VIA GETTY IMAGES; -/AFP VIA GETTY IMAGES

He stated that “there are absolutely different sets of books” concerning economic data in China.

Regional Chinese authorities have even admitted as much in recent years. In January 2017, authorities in northeastern China’s Liaoning Province admitted to inflating the province’s economic data from 2011 to 2014. A year later, a city in northern China’s Inner Mongolia revised its 2017 economic data after conceding that it had incorporated “fake additions.”

Balding recalled an anecdote from his time in the country. A Chinese official told him that another official working at a local branch of the national statistics bureau was arrested for selling real economic data.

Balding asked the official whether the person was charged with corruption or national security offenses. “Oh, national security,” the official said.

“We can’t have that information out in public.”

“Just to hear the confirmation that there was real data and fake data, I think, was quite eye-opening,” he said.

This two-tiered system has spawned a “thriving black market for data” in the country, according to Balding.

However, the data-rigging game is getting harder to pull off, he said. Specifically, it’s getting more difficult for the regime in Beijing to align manipulated data with other data that’s harder to contrive, including observable information, such as air quality and light intensity.

Reconciling a region’s industrial activity figures

Special Report Chinese Economy

“You simply can’t carry forward an economy with the levels of debt that we’re seeing [in Chinese households].”

Balding pointed to potential troubles at one Chinese bank, Ping An Bank, headquartered in southern China’s Shenzhen city.

According to Reuters, Ping An Bank reported that its outstanding special mention loans had increased by 37.3 percent in the third quarter, compared to the end of 2020, in its earnings report released on Oct. 20. The overdue rise in loans was attributed to a liquidity crunch at Shenzhen Baoneng, a property and financial services conglomerate.

“People have faith in a bank because they can go there and get their money,” Balding said. “If people lose faith in the bank, even if the bank still has a good balance sheet, that bank is going to collapse because everybody wants to go get their money.”

However, any troubles stemming from the Evergrande crisis will mostly be limited to within China’s borders, according to the economist.

“There’s not a lot of financial flows from outside of China into Chinese real estate. There’s not a lot of financial flows into Chinese aluminum companies,” Balding said. “You would, however, see very narrow and targeted direct sectors or companies feel a lot of pain.”

These companies would include foreign iron ore makers, he said, as Chinese steelmakers would reduce their purchases of the raw materials.

Chinese Economy Evergrande is hardly the only case in China of debt-fueled growth coming back to bite a company, according to Balding, who said it’s a country-wide issue.

China is a “wildly indebted country,” he said.

“The Chinese household is more indebted than the U.S. household.”

“If you were to compare Chinese household debt to Russia or Mexico, which it compares pretty closely to per capita income, the Chinese household is wildly more indebted than those other households,” he said, noting most of this debt is tied to the property market.

According to the South China Morning Post,

It has become increasingly more difficult for Beijing to continue rigging the data.

TWOTIERED SYSTEM Concealing the real data has spawned a ‘thriving black market for data’ in China.

household debt as a percentage of disposable income topped a record high of 130.9 percent as of the end of 2020. China’s household debt stood at 61.3 percent of the country’s GDP in the first quarter of 2021.

“You simply can’t carry forward an economy with the levels of debt that we’re seeing,” Balding said.

Such high levels of debt will impose an “enormous restraint” on future spending capacity, dampening spending on luxury goods or international education, among other things.

While one could make an argument that this debt addiction, the Evergrande crisis, and other trends are conspiring to hurl the country into dangerous economic territory, Balding said that any assessment about the possibility of a financial crisis should take into account one key factor: China’s political system.

The question of when China will face a financial crisis, in Balding’s view, is a “political question more than an economic or financial question.”

Authoritarian regimes, such as the Chinese Communist Party, can ill afford to preside over such economic turmoil.

“If there ever is a financial crisis in authoritarian states ... it does not end well for leadership,” Balding said.

The problem thus becomes an “existential question” for the communist regime, he said.

All this means that Chinese leader Xi Jinping will likely be willing to do whatever it takes to resolve a crisis.

“There is no check too big that he will not write,” Balding said. “There is no bailout too large that he would be unwilling to bail out.”

Because ultimately, Xi “does not want to preside over the collapse of China.” ■ I N S I G H T November 5 – 11, 2021 43

P OL I T IC S • E C ONOM Y • OPI N ION T H AT M AT T E R S

Issue. 04

Perspectives Delays in the transfer of cargo continue in Southern California as vessels line the horizon waiting to offload containers into the Ports of Los Angeles and Long Beach on Oct. 27, 2021.

The supply chain crisis reflects a myriad of problems, rooted in post-pandemic demand surge.

✒

44 I N S I G H T November 5 – 11, 2021

BEIJING’S PLAN TO CONTROL GLOBAL INTERNET 46

AMERICA’S SHRINKING WORKFORCE 47

CHINA’S $55 TRILLION BUBBLE 48

BE AN ICEBREAKER, NOT AN ICEMAKER 50

PHOTO BY JOHN FREDRICKS/THE EPOCH TIMES

Supply Chain Issues to Persist

MILTON EZRATI is chief economist for Vested, a contributing editor at The National Interest, and author of "Thirty Tomorrows" and "Bite-Sized Investing.”

Milton Ezrati

Supply Chain Problems and Prospects Difficulties will last longer than the Biden administration claims

P

resident Joe Biden blames inflation on supply chain problems. He has assured the American people that since supply problems will lift soon, so will inflation pressures.

He’s wrong on both counts. The inflation reflects more than supply chain problems, but even if it were just supply matters, they will persist longer than he claims.

The nation’s supply chain difficulties have many moving parts, but their root lies in the post-pandemic buying surge.

Consumers, having spent little during the lockdowns and quarantines and sometimes with generous government checks in hand, have ratcheted up buying since the strictures have eased. Overall consumer spending has grown a powerful 11.6 percent over the past 12 months, a rate of increase only surpassed by the initial, post-strictures buying surge during the summer of 2020. The demand surge has filtered back from retailers to producers who, having stopped or curtailed activity during the lockdowns, have had to scramble to catch up. Delays, shortages, and rising prices are the result.

A worker shortage has exacerbated the strain. Fears of infection have kept many people away from the workplace, while government policies have kept others at home. Until recently, especially generous unemployment benefits made it more profitable for some to avoid work, especially workers with child care responsibilities who collected not only generous benefits, but also saved on child care expenses. As of September, the combined effect of these influences had brought work participation to a mere 61.6 percent of the civilian population, down from the pre-pandemic level of 63.5 percent. The percent change looks small, but it constitutes a 5.5 million decline in the numbers of people available for work.

The extra unemployment payment expired in September, but other generous government benefits remain in place, enough to keep some potential workers at home.

Recently, vaccine mandates have had an additional and detrimental effect on worker participation. Some workers have quit their jobs, rather than comply. Others have been fired or placed on leave. An absence of comprehensive data makes it hard to know exactly how much the mandates will further constrain the workforce. Using as guidance the experience of Washington state, where some 2,000 government workers have left because of the vaccine mandate, it’s easy to see mandates across states and businesses taking more than a million more out of the workforce.

Perhaps most significant in this mélange of trouble is the world-wide energy shortage.

Meanwhile, a rise in strike activity has had an independent effect. The latest data from Cornell University’s Labor Action Trackers records almost 200 strikes so far in 2021, more than in years. It is hardly surprising. The worker shortage provides leverage for organized labor and the inflation provides workers ample motivation to seek higher wages. True, striking workers are still technically employed, but they aren’t producing. So far, the cumulative impact is small compared to other influences on labor availability. But whatever the justice of the strikes, they have made their own contribution to the labor shortage.

Meanwhile, the spring–summer rise in COVID-19 infections has added its burden on supply chains. The Delta variant has slowed production only marginally in the United States and Europe, but it has had a powerful effect in Asia. China’s strict “zero-tolerance” policy quickly shut down factories and shipping centers at the first sign of renewed infections. Governments elsewhere in Asia have also had to shut down factories, notably in important exporting economies such as Vietnam,

Malaysia, and Indonesia.

The loss of this production has cut off product flows to this country, consumer goods in large part, but also parts needed by domestic producers. This interruption has done especial damage to the delivery of computer chips to auto manufacturers and of holiday gifts, notably toys.

Perhaps most significant in this mélange of trouble is the worldwide energy shortage. The post-pandemic demand surge would have strained production potentials in the best of circumstances, but policy actions have made matters worse. Biden has shut down the Keystone XL pipeline and stopped the fracking revolution. Whatever the justification for his actions, they have contributed to a 14 percent drop in North American fossil fuel production. Furthermore, the absence of this production has returned monopoly-like power to OPEC and Russia, both of which have every incentive to constrain how much they pump and so keep the price of oil high.

Green initiatives have also contributed.

These shut down coal mines and marginal supplies of oil and natural gas. Now, with the surge in demand, it has become difficult, if not impossible, to restart the closed operations. It has proved even harder to ramp up alternatives, such as wind, solar, and hydro, to fill the energy supply gap.

China has experienced an especially severe shortfall in electricity production. That may seem a long way from the United States, but the factory closures have constrained exports of products needed in this country.

These aren’t problems that dissipate quickly, whatever the president says. On the contrary, falling temperatures this winter will increase energy demands and intensify shortages that will likely filter through all production efforts. Even if Biden were to reverse his positions on fracking and the Keystone XL pipeline, it would take months for the associated energy sources to reach users. It may turn out that Transportation Secretary Pete Buttigieg’s forecast of no easing until mid-2022 is optimistic.

I N S I G H T November 5 – 11, 2021 45

Anders Corr

ANDERS CORR is a principal at Corr Analytics Inc., publisher of the Journal of Political Risk. He is an expert in political science and government.

Beijing’s Plan to Control Global Internet The CCP wants to take your freedom away

T

he Chinese Communist Party (CCP) is “civilizing” the internet within its borders and proposing similar crackdowns globally in what should be a wake-up call to people who value their online freedom.

China’s cyberspace regulator is planning to establish a “civilized” internet that reshapes online discourse for more thorough dissemination of CCP propaganda into the daily online browsing of Chinese citizens, according to Zhuang Rongwen, head of the Cyberspace Administration of China (CAC). This will build China into a “modern socialist society,” according to Zhuang in his Oct. 27 article from the CAC website.

The regime in Beijing not only seeks to entirely regulate content on the Chinese internet, but to influence world internet usage as well, through the promotion of new standards at the United Nations. In early October, the BBC told the UK Parliament that Beijing-led proposals to the U.N. sought to provide the means to “inhibit the flow of international media.” Beijing’s proposed “New IP” would require users to register for internet usage, with governments then being able to deregister nonpreferred users for arbitrary reasons.

Britain’s cyber spy agency, Government Communications Headquarters (GCHQ), also stated that Beijing’s increasing control of the internet, along with the CCP’s abuse of it through IP theft, misinformation, and censorship, threatens to “splinter” the world’s information superhighway.

The CCP apparently wants us to do what it says, not what it does.

What China innovates in terms of cyber control has global implications, and it’s innovating fast. Internet firms should improve self-discipline, according to Zhuang, with social engineering in the form of promoting “good” role

46 I N S I G H T November 5 – 11, 2021

models rather than behaviors such as cyberbullying. CCP cyberbullies, such as the many coordinated Chinese diplomatic accounts on Twitter, are exempt from this.

Zhuang’s article reflected guidelines published in September by China’s State Council, which also promoted the building of a “civilized” internet in which cyberspace would be used for CCP propaganda while increasing the regime’s supervision of news, livestreaming, and other online platforms.

The public would assist in the supervision, presumably through snitching to authorities about any perceived infractions by their cyber neighbors. Did a family member just look over your shoulder? Expect a knock on the door.

Beijing seeks to entirely regulate content on the Chinese internet and to influence world internet usage.

“Historical nihilism,” which uses history to criticize the CCP’s leading role, and any disputation of the “inevitability” of Chinese socialism, would be shut down in the CCP’s future internet dystopia, making room for the promotion of socialist moral values and model communist workers.

On Oct. 26, the CAC published a draft of updated rules that would prevent banned social media users from reregistering their accounts under a similar name on any platform. This would close what has been a rare escape hatch from the CCP’s increasing online control. The new rules would also require online platforms to display a user’s location on their page, making them easy targets for local police. Did you just post a picture of your favorite boy band?

Expect cuffs (the law enforcement kind, not the starched kind).

Domestic users would have to show their city or province, and international users would be required to show their country.

In 2017, China began requiring internet users, including microbloggers and instant messenger users, to verify their identities with a form of ID, mobile phone, and other documentation. These requirements are based on the regime’s 2017 cybersecurity law, which mandates a “clean and healthy” internet, void of not only dissenting political voices, but of celebrity gossip and stock analysis as well. Rock bands are frowned upon— unless they wear the proper (Maoist?) attire and put old communist ideas to new tunes. Party on, comrades.

This fall, the CAC issued guidelines that encouraged online platforms and content managers to increase censorship, including self-censorship, by all users. The CAC has worked to decrease algorithm use by app operators, presumably of the type that doesn’t privilege CCP propaganda. A 10-point notice has ordered online administrators to decrease exposure to celebrities and online fan clubs, as well as violence and vulgarity.

An August campaign by the CAC suppressed citizen journalists and stock analysts who “misinterpret economic policies and forecast doom and gloom in financial markets.” Independent “self-media” accounts that allegedly spread fake news and rumors in order to blackmail companies were targeted. Expect blindingly sunny financial predictions to go with those Maoist boy bands.

Along with Beijing’s recent crackdowns on the technology, education, and entertainment industries in China, the CAC’s global war against internet freedom is bringing the brave new world of communist automatons to a computer near you. Unless the “uncivilized” internet strikes back.

EMEL AKAN is a senior reporter for The Epoch Times in Washington, D.C. Previously she worked in the financial sector as an investment banker at JPMorgan.

Emel Akan

America’s Shrinking Workforce Resignations increased to 4.3 million in August, the highest on record

T

he U.S. economy is suffering from a labor shortage, posing a difficult puzzle for economists and policymakers

to solve.

The pandemic has deeply disrupted the labor market, with lockdowns causing millions to leave the workforce last year. While many businesses have reopened their doors, bringing back former employees, or hiring new workers, has never been so challenging. And the increasing imposition of vaccine mandates is making the problem worse.

Meanwhile, Americans are quitting their current jobs at a record pace. The Labor Department data showed that quits increased to 4.3 million in August, the highest on records dating back to December 2000.

Resignations peaked in April this year and remained unusually high during the summer, leading many to call the phenomenon “The Great Resignation” or “The Big Quit.” The number of resignations reached nearly 20 million between April and August.

Workers at restaurants and stores, especially, are quitting in droves. Resignations are also highest in the tech and health care industries, due to increased workloads and burnout.

A Gallup survey discovered that 48 percent of the working population in the United States is actively looking for a new job or watching for opportunities.

Adecco, the world’s second-largest human resources provider, defines this new era of work as “The Great Reevaluation.”

“Workers are reevaluating their priorities,” says Sara Gordon, vice president and head of customer success at Adecco.

“Your job used to be the thing that you planned your life around, and now it’s really shifted to your family, your health, and your mental well-being.”

Many workers prefer flexibility over salary, she said, adding that an increasing number of people in the tra-

Resignations remained unusually high during the summer, leading many to call the phenomenon ‘The Big Quit.’ ditional workforce, especially those in retail and hospitality, would like to take a part-time or a work-from-home job.

This new trend makes business owners very nervous. They have blamed expanded unemployment benefits and pandemic stimulus payments for the labor shortages.

U.S. job openings have raced to record-high levels this summer. There were about 10.4 million jobs unfilled at the end of August.

The ongoing labor shortage is “the single most significant threat to America’s economic recovery,” according to the U.S. Chamber of Commerce, the nation’s biggest business lobbying group.

“Congress should drop the multitrillion-dollar tax and spend proposals that would further undermine the economy and focus on getting Americans back to work and helping employers fill open jobs,” the business group said in an Oct. 12 statement.

Several federal unemployment benefit programs expired across the country in early September. Economists forecast that the end of these pandemic-aid programs and the reopening of schools will accelerate hiring in the coming months.

Lapsed benefits have already prompted greater job search activity, with some companies such as McDonald’s reporting a significant increase in job applications in states that ended the benefits earlier.

But millions still remain on the sidelines of the economy.

“There’s a range of factors in our assessment,” White House press secretary Jen Psaki said, when asked about why people aren’t returning to work.

“One is people are still fearful of COVID,” she responded on Oct. 8.

Many are also struggling to return to work, she added, as they face challenges in child care and elder care.

In September, the labor force participation rate was 61.6 percent, down from the pre-pandemic level of 63.3 percent in February 2020. So far, more than 5 million people have dropped out of the labor force and most of them may not return to work, and baby boomers who are currently 57 to 75 years old have decided to retire because of the pandemic.

There are more than 3 million “excess retirements,” according to a recent analysis by Miguel Faria e Castro, a senior economist at the St. Louis Fed. Several reasons, including health risks and a large rise in asset valuations, may have motivated boomers to leave the labor force early, Faria e Castro said in a report.

The significant financial stimulus provided by Congress and the Fed has further boosted stocks and home values during the pandemic, making it more feasible for people to retire.

“Standard theories of household behavior predict that when people get richer, they work less,” Faria e Castro said.

I N S I G H T November 5 – 11, 2021 47

DANIEL LACALLE is chief economist at hedge fund Tressis and author of “Freedom or Equality,” “Escape from the Central Bank Trap,” and “Life in the Financial Markets.”

Daniel Lacalle

China’s $55 Trillion Bubble

The property bubble is likely to hit consumers and businesses

N

o economy has been able to ignore a property bubble and offset it and continue to grow, replacing the bust of the real estate sector with other parts of the economy.

Heavily regulated economies from Iceland to Spain have failed to contain the negative effect of a real estate sector collapse. It won’t be different in China.

China has three real estate problems: the massive size of the sector, its excessive leverage, and the amount of developer debt in the hands of average households and retail investors.

“China’s real estate market has been called the most important sector in the world economy. Valued at about $55 [trillion], it is now twice the size of its U.S. equivalent, and four times larger than China’s GDP [gross domestic product],” China researcher George Magnus wrote in The Guardian.

debt was sold to small investors in different packages.

Chinese families have around 78 percent of their wealth tied up in property, more than double that of the United States, according to a 2018 report by Chengdu’s Southwestern University of Finance and Economics and China Guangfa Bank. China has also launched nine real estate investment trusts that have raised more than $5 billion in just a week in oversubscribed offerings in a market that could reach $3 trillion, according to Bloomberg.

These three factors mean that it will be impossible for China to contain a bubble that’s already bursting. According to Financial Times, prices of new homes across China’s largest cities fell in September for the first time since April 2015. New home prices dropped in more than half of the 70 cities relative to August.

WITH HIGH LEVERAGE, prices that

CONSIDERING CONSTRUCTION AND

other real estate services, the sector accounts for more than 25 percent of China’s GDP. Just to consider other examples of property bubbles, the average size of the sector is somewhere between 15 and 20 percent of a country’s GDP. And none of those economies managed the excess of the property sector.

Of course, the problem of a real estate bubble is always excessive leverage. Developers take on too much debt, and the smallest decrease in housing prices makes their equity vanish and their solvency ratios collapse.

In the case of China, the level of debt is simply staggering. According to Financial Times, the ratio of net debt of the 19 largest developers in China stands at more than 60 percent to equity. Evergrande isn’t even the most indebted. Two developers stand 48 I N S I G H T November 5 – 11, 2021

Chinese families have around 78 percent of their wealth tied up in property.

at more than 120 percent net gearing.

The top 10 most indebted Chinese developers amply surpass the level of debt-to-assets that made Spain’s Martinsa-Fadesa collapse.

Chinese and foreign retail investors are also heavily exposed to the real estate and construction market.

Evergrande was the largest issuer of commercial paper and developers’

have risen massively above real GDP and real wages, and with a population that’s heavily exposed to the sector, the effect on China’s economy will be much more than just financial. Even if the People’s Bank of China tries to disguise the fiscal effect with liquidity injections and bank direct and indirect bailouts, the real estate bubble is likely to hit consumption, with utilities that have built infrastructure around empty buildings, services, and sectors that manufacture parts for construction.

The Chinese regime may contain the financial implications, but it can’t offset the real estate sector’s effect on the real economy. This means weaker growth, higher risk, and lower consumption and investor appetite for China exposure.

The central bank can’t solve a problem of solvency with liquidity.

Property bubble-driven growth always leads to debt-driven stagnation.

Fan Yu

FAN YU is an expert in finance and economics and has contributed analyses on China's economy since 2015.

Beijing Paints Bleak Economic Picture CCP concedes that the country faces numerous headwinds

C

hina’s “economic miracle” looks poised to be in the rearview mirror, as Party leaders appear to be preparing the country for a period of slowing growth going forward.

In October, Beijing announced sharply lower third-quarter official GDP growth figures, with a 4.9 percent mark that missed economists’ consensus by 30 basis points. In late October, staterun news agency Xinhua published a long document titled “Ten Questions About the Chinese Economy” that went in-depth to explain several economic, financial, and social-economic hot topics currently facing China.

The article was widely republished across numerous state-controlled media including People’s Daily, the Chinese Communist Party’s (CCP) official mouthpiece.

What is being discussed? The article points out that China’s economy has maintained a recovery trend in a “reasonable range,” but concedes that the country faces numerous headwinds as “economic growth has fallen, commodity prices have risen, and power rationing in many places across the country.”

The article details how one should view topics such as current economic growth trends, the longevity of consumer consumption, how to think about high-quality economic development, how to preserve the momentum of foreign trade, how to deal with power curtailment effectively, how to cope with global supply chain restructuring, how to achieve Xi Jinping’s “common prosperity” goals, how to think about the technology industry and recent anti-monopoly policies, how to alleviate poverty and jumpstart rural revitalization, and how to deal with risks facing the financial sector.

It’s an intriguing document in that it touches upon almost all recent economic and financial hot topics, including most of the severe challenges facing

Beijing is preparing the people for a ‘new normal’ of stagnant growth.

China as it struggles to emerge from the CCP virus pandemic.

But it’s also a departure from recent CCP messaging, which has been forceful and matter of fact.

There could be a few reasons for this.

For Beijing authorities to come out and issue a deep dive of such magnitude may be a sign that prior messaging of certain policies, for example, the technology industry crackdown, may have missed their targets. Or that there’s a sizable portion of the populace that may not understand or agree with existing economic policies. Regardless, it likely also means that CCP authorities want to front-run any external discourse in order to prepare the country and set the stage for a prolonged period of slowing economic growth.

In other words, the CCP is preparing the people for a “new normal” of stagnant growth and a tough economic environment going forward.

We can look to the property market for manifestations of this slowing growth that Beijing is preparing for. Property developers Evergrande, Kaisa, Modern Land, Fantasia, and Sinic all face various degrees

of financial challenges, months after Beijing issued guidelines to restrict financing on overleveraged real estate firms.

While Evergrande has restarted construction around the country after shutting down over the summer, real estate development activity will slow going forward. And that means lower GDP growth, fewer construction jobs, and lower levels of supporting activity such as bank lending and purchases of furnishings.

Tax policy also is a factor in deterring homeowners from purchasing multiple properties. The State Council, the Chinese regime’s cabinet-like body, has begun selecting regions to enact the first wave of a pilot program to tax owners of land, as well as residential and commercial real estate. Long rumored, this is a landmark program that could levy real estate taxes on Chinese property owners for the first time. The announcement also said the pilot program will last five years, meaning it would likely be 2027 before the National People’s Congress, the regime’s rubber-stamp parliament, turns it into law countrywide.

This delayed implementation reflects both the importance of this tax as a revenue driver for the CCP as well as authorities’ trepidation in introducing such a cost burden. But it appears Beijing is ready to face any blowback against this measure.

Even the usually bullish economists are projecting China’s lowest GDP growth in decades. Capital Economics estimated that China’s official GDP growth could slow to only 3 percent next year, citing cooling consumer and capital spending.

“Industry and construction are on the cusp of a deeper downturn,” the firm wrote in a note to clients.

China is entering uncharted waters with its economy. Are this group of CCP regime leaders and the current generation of consumers prepared for what lies ahead?

I N S I G H T November 5 – 11, 2021 49

JEFF MINICK lives and writes in Front Royal, Va. He is the author of two novels, “Amanda Bell” and “Dust on Their Wings,” and two works of nonfiction, “Learning as I Go” and “Movies Make the Man.”

Jeff Minick

Be an Icebreaker, Not an Icemaker Tips to master the craft of civilized conversation

M

ost of us pay attention to our appearance.

We may wear sweats and sandals around the house, but we put on appropriate attire when we head out for work at the bank.

At the restaurant, we take a quick glance in the bathroom mirror to make sure the teeth aren’t showing a bit of salad. We work out at the gym for fitness, but also to shrink that belly and win the compliments of friends. We as a people spend a fortune on makeup, plastic surgery, and other cosmetics, all to improve our looks.

But how many of us give the same consideration to the way we converse with others, particularly when we first meet them?

When at a company convention, for example, do we ramble on while talking to a stranger? Are we so fixated on ourselves that we fail to read the signs on her face and in her body language that she’s desperate for an escape route? Do we ask questions and then listen inattentively to the answers? Do we interrupt her when she’s talking, like some of the hosts on talk radio? Do we tell inappropriate jokes and then wonder why she doesn’t laugh?

In “The Art of Civilized Conversation,” Margaret Shepherd and Sharon Hogan write, “Conversation, which is a craft as well as an art, requires only a little talent and a lot of practice.”

Here are some tips to help you master that craft. Let’s stick with the convention scenario, where our boss has introduced us to Abigail from accounting.

Remember names. A good number of us, including me, sometimes forget the person’s name to whom

50 I N S I G H T November 5 – 11, 2021

Conversation, which is a craft as well as an art, requires only a little talent and a lot of practice.

Margaret Shepherd and Sharon Hogan, authors, “The Art of Civilized Conversation”

we’ve just been introduced within minutes. Not good. Here, we can help our memory by repeating “Abigail” several times during the ensuing conversation. We can also use tricks of language. At my local laundromat, when I first met the manager, she said, “I’m Marty. Rhymes with party,” and I’ve never forgotten her name.

Keep an appropriate distance from Abigail. No one wants a stranger up close and personal. Stay at least an arm’s length away.

Maintain eye contact. If you look at the floor or into the distance when speaking, you’re signaling disinterest. Focus on Abigail.

On the other hand, avoid staring.

One man I know cocks his head and stares directly into my eyes for the entire conversation. I feel as if we’re in one of those “see who blinks first” contests from childhood.

Ask questions. If you discover Abigail grew up in Elkin, North Carolina, but now resides in Houston,

you’ve just received a gift basket of questions. What’s Elkin like? How was it growing up there? Was the transition to Houston hard?

On the other hand, avoid interrogating her. Instead of asking question after question, bring your own experiences to the discussion.

LISTEN. That word deserves caps because listening is such a vital part of good conversation. We value people who possess this skill, who truly hear us. And we don’t listen just with our ears. Our facial expressions and body language send the message that we’re focused on what Abigail is saying.

Leaving aside the first tip, these tools will enhance any conversation: a casual talk with a friend on the porch, a work-related discussion with fellow employees, even a chat with family members.

As Shepherd and Hogan remark, “Civilized conversation, like all art, connects you to the best in other people and in yourself.”

Environmental Warriors Sustainable Recycling

Company CEO Sees Innovation as Solution to Plastic Pollution

By Nathan Worcester

W

hen jeff gold founded Nexus Fuels (now Nexus Circular) in 2018, he was no greenhorn in environmental services— he first entered the field in the ‘80s.

“The whole idea here, at least from my perspective, was to do something that would actually have a meaningful impact on the issue of plastic pollution— whether it be ocean plastics or terrestrial plastics or landfill or anything else,” Gold, who is also the CEO of Nexus Circular, told The Epoch Times.

“While plastics serve a fantastic purpose and enable our modern lives, there’s a very big problem, obviously, with plastic pollution.”

COURTESY OF NEXUS CIRCULAR

NEXUS CIRCULAR AND companies

like it show how commercial and technological innovation might offer a solution.

For Gold, inspiration struck with an article from a trade journal about a Swiss company that produced oil from old plastic grocery bags.

“I thought, ‘Wow, that’s unbelievable!’

But when I thought about it, it kind of made sense.”

And so he started working on a new project using the equipment that was available to him.

Today, Nexus Circular is on the rise, having recently received a large investment from Cox Enterprises. In just the past year, it grew 177 percent.

So far, it has diverted nearly 3.8 million pounds of plastics from landfills. Its customers include the energy giants Shell and Chevron Phillips Chemical.

Gold said the process he uses to break down plastics is “surprisingly simple.”

“What it involves is taking this plastic,

which is nothing more than a whole bunch of hydrocarbon chain polymers, and heating it up in the absence of oxygen,” he said.

“IF YOU HAVE air or oxygen around,

all the plastic’s going to do is burn and make a fire, and you don’t want that. If you exclude the oxygen, you can still heat the plastic up really high. The plastic polymer starts coming apart, and it starts breaking up from a long chain into a whole lot of little chains.

“It’s kind of like taking a ribbon and a scissors and just starting to cut that ribbon up with scissors into all these small pieces,” Gold said. “Those are your products that end up as oil.”

Gold noted that 100 percent of the oil his company produces is used to make new plastics. Nexus Circular’s process is, in his words, a “very closed loop.”

“We’ve got a nascent industry that is coming into being to try to very rapidly address a very, very pressing pollution issue.”

Jeff Gold, founder and CEO of Nexus Circular.

“We don’t have a wastewater stream or a smokestack or anything like that,” he said.

The light gases that it produces, such as ethane, methane, and propane, are collected and cycled back to power the heaters on the system’s reactor.

“To even reduce our carbon footprint further, the next version of our plants is going to be electric,” he said.

He thinks Nexus Circular’s core technology, while necessary to its success, is one element among many that have set the firm apart.

Attention to business fundamentals

Jeff Gold, founder and CEO of Nexus Circular.

such as supply chains has also been key.

“We approach this from a very pragmatic business standpoint,” he said.

“You can have the best technology in the world, and say, ‘Hey, I’m going to go out and save the world.’ And that’s great. But unless you are able to make money at it, you’re only going to do that for a short time, and then you’re going to fail—and that’s happened a lot in this space.”

In Gold’s view, Nexus Circular’s focus on energy efficiency, which it has bolstered through careful measurements and observations while operating at a commercial scale, doesn’t just benefit the environment—it also helps the bottom line.

“Other groups that we’ve seen publish data do not have that kind of energy efficiency, and so it makes them less economical to operate,” he said.

One basic move—namely, sorting out cardboard, PVC, and other contaminants before the plastics are converted to oil—makes a huge difference: “If you don’t take it out at the front end, you’ll have to take it out at the back end!” he said.

Gold is optimistic about the long-term future of the emerging plastics recycling sector, but he emphasizes that the problem of plastic pollution won’t be fixed overnight.

“We’ve got a nascent industry that is coming into being to try to very rapidly address a very, very pressing pollution issue,” he said. “We need time. ... But as we learn more, the costs of doing this are going to go down.”

HE BELIEVES PEOPLE need to stop

seeing plastics as throwaway items and take a little extra time to recycle them responsibly. Otherwise, he says, politicians will attempt to pass laws such as Sen. Jeff Merkley’s (D-Ore.) “Break Free From Plastic Pollution Act,” which would severely curtail plastic production or even place a moratorium on the creation of plastics recycling facilities such as Nexus Circular.

“The demand is so high and the benefits are so great that we cannot have a modern society at this stage of our evolution without plastics,” Gold said.

I N S I G H T November 5 – 11, 2021 51

Nation Profile

Asia expert Clyde Prestowitz.

THOUGHT LEADERS

Facing the Threat of the Chinese Communist Party Understanding the CCP’s extent, and intent, is key, says Clyde Prestowitz

N

“We were fooling ourselves,” says Clyde Prestowitz.

Prestowitz was a leader in the first U.S. trade mission to China in 1982, and he’s served as an adviser to four presidents, both

Republican and Democrat. He is the author of “The World Turned Upside Down: America, China, and the Struggle for Global Leadership.”

Here’s an excerpt of an interview with Jan Jekielek, host of EpochTV’s “American Thought Leaders.”

JAN JEKIELEK: What

comes through in your book is how important the supremacy of the Party is to the leadership, and frankly, to anything anyone ever does there, right?

CLYDE PRESTOWITZ:

Right. It’s important for

52 I N S I G H T November 5 – 11, 2021

people in the West to try to get a grasp of the extent and intent of the Chinese Communist Party. We say Chinese Communist Party, but we could also say a Leninist party.

What’s the difference?

The point here is that Lenin established a model for governing in which complete power is concentrated in the hands of very few people who are the party. The characteristic of a Leninist party is one that it seeks to control everything narrowly, in very few hands.

And secondly, it’s paranoiac. That means that it

“This is so alien to the West, ... that it’s hard for us to grasp. ” Clyde Prestowitz

has to survey constantly what’s going on in every element of the society, be it medicine or arts or engineering or whatever it is. The party has to know what’s going on and surveil that and be sure that there’s no threat to the party there.

You see that in what is

JARED CUMMINGS/CONSERVATIVE PARTNERSHIP INSTITUTE

early 20 years after China was admitted to the World Trade Organization, China hasn’t become more democratic or free. And Western capital has ultimately only strengthened China’s communist regime.

developing in China with surveillance using artificial intelligence to track people and social scores and so forth. That grows out of this paranoia of the party.

Imagine that the president of the United States named, appointed, every governor of every state, every mayor of every city, every CEO of every major corporation.

The few top leaders of the Chinese Communist Party have a program. They have a complete strategy.

They’re thinking: What is our technology strategy?

What is our military strategy? What is our welfare strategy? They have a completely coordinated strategy across the board, and nothing is being left to chance.

This is so alien to the West, and particularly to the individualistic United States, that it’s hard for us to grasp. But if we don’t grasp that, we can’t adequately respond to the challenge that China poses.

MR. JEKIELEK: Something

that you mentioned is this idea that Xi Jinping plays a central role in choosing the

CEOs of all the major corporations. Is that really true?

MR. PRESTOWITZ: Well,

think about it. One-third of the Chinese GDP is generated by state-owned corporations. The heads of the state-owned corporations are directly named by the Party. So already, he’s naming at least onethird of the major CEOs.

Imagine that the president of the United States named, appointed, every governor of every state, every mayor of every city, every CEO of every major corporation.

MR. JEKIELEK: Those are

the massive companies.

MR. PRESTOWITZ: Yes,

right. Those are the huge state-owned things. They’re spread all over the world. I mean, the Port of Piraeus in Greece, several of the ports in Australia, are run or owned by state-owned Chinese corporations.

Even when the Party doesn’t directly name the head of a corporation, the head of that corporation, whoever it is, is subordinate to the Party.

More important even than that is this: Let’s take an American corporation.

Everybody knows Apple.

Many people have iPhones or they have some Apple product, right? Now, in America, we call Apple an

American company, and it technically is because it’s incorporated in America.

But think about it this way. In Washington, D.C., Tim Cook is a very powerful player. He spends millions of dollars in Washington on lobbyists, lawyers, advertising, you name it. He has power in Washington. He has instant entrée. If he wants to talk to President Biden, he picks up the phone and he talks. If he wants to see a senator or a congressman, he gets that meeting. He makes big donations.

Apple, the corporation,

makes political donations.

He is a powerful force in Washington. In China, he’s on his knees. He kowtows, just like all the other Chinese. He has no political influence at all in China.

To give you what this means, in 2015, the FBI in the United States was investigating a case. In order to solve the case, they needed to be able to open an Apple iPhone.

They asked Apple to help them. And Apple said, “No way. We are not opening anything for you. FBI, go jump in a lake.” The FBI said, “OK, we’ll take you

I N S I G H T November 5 – 11, 2021 53

Nation Profile

It’s obvious that the Chinese are not aiming to become part of our rules-based order. China is building its own order.

Clyde Prestowitz

to court.” They began court proceedings against Apple.

Now, as it turned out, the FBI found an independent technologist who helped them open the phone, and so they dropped the cases. But Apple absolutely refused to cooperate with the U.S. government and the FBI. OK, fast-forward to 2019, and kids are demonstrating in Hong Kong against the imposition of the communist system in Hong Kong. Apple has, in its App Store, an app called Hong Kong Map Live, which, if you have the app, means that you can look at Hong Kong in real time.

What the kids were doing was they were looking at Hong Kong in real time and they were saying: “OK, the police are over there. We’ll demonstrate over here.”

That just drove Beijing crazy. The China People’s Daily, the mouthpiece of the Chinese Communist Party, began writing very strong editorials against this app.

Within two days, that app was out of the App Store.

That gives you an idea of the relative [power]. In America, Tim Cook would not have taken the app out of the App Store, but in China, he takes it out.

Everything that Apple makes is made in China.

MR. JEKIELEK: America, as

you say, was convinced that it would reshape China, the Chinese regime, in its own image, but you say, “Well, actually it was America that was reshaped somehow.”

MR. PRESTOWITZ: The

Americans had a view, and it became the view of the establishment. Whether they were Republican or Democrat, they were all convinced it was going to become a liberal, free-market, democratic world.

Globalization became a watchword.

It’s now obvious that China is not going to become like us. It’s obvious that the Chinese are not aiming to become part of our rules-based order. China is building its own order.

Our battle is not with the Chinese people. It’s with the Chinese Communist Party.

MR. JEKIELEK: Give us

a sense of where you’re going.

MR. PRESTOWITZ:

Xi Jinping is now taking measures to impose greater control and greater oversight of individuals in China to control them more. The more a freeworld entity invests in China and helps to strengthen this anti-free speech, anti-liberty, anti-soul Communist Party, the more it’s not about money. It’s about fundamental human values.

I think that increasingly major corporations are going to find it very difficult to justify making money at the expense of human values. I’m optimistic that’s the direction it’s going to go.

There are some other things we need to keep in mind. China has been growing economically very rapidly. But it’s also aging rapidly. Its population is going to shrink dramatically. Today, there are 1.4 billion Chinese. By the end of the century, it’s going to be down to about 700 million, about half of today’s present population.

In my view, we need to make America the leading manufacturing country and the leading technology country. We need to do that with our allies. We need to pull the free world together.

As long as you’re dependent, you’re vulnerable to coercion. Coercion is China’s way of operating. So we need to make ourselves independent of coercion.

This interview has been edited for brevity and clarity.

JARED CUMMINGS/CONSERVATIVE PARTNERSHIP INSTITUTE

54 I N S I G H T November 5 – 11, 2021

Given that, in China, Tim and his team have virtually no power. Given that everything they make is in China and given how dependent they are on the Chinese infrastructure, we need realistically to recognize that Apple is a Chinese company. It’s not an American company.

Apple will respond more quickly to what Xi Jinping wants than what Joe Biden wants. Xi Jinping is much more powerful vis-a-vis Apple than Joe Biden. Many other American companies, General Electric, FedEx, you name it, are all kowtowing. They have to kowtow to the Chinese Communist Party.

They effectively have become captives of the Chinese Communist Party.

T R AV E L • F O O D • L U X U R Y L I V I N G

Issue. 04

Unwind

The six-bedroom Bel-Air property is on the market for $39,500,000.

JIM BARTSCH/JADE MILLS

A Dream of an Italian Villa The lavish Il Sogno captures designer Kalef Alaton’s vision: vintage ostentatiousness and contemporary luxury. 58

‘MECHANICAL MARVELS’ is an apt description of vintage watches.

Exuding style, charm, and practicality, they can be addicting to collect. 61 PHOTOGRAPHY is the art of capturing moments. These cameras make it easy for anyone to collect memories in vivid detail. 60 FOR 50 YEARS, Versailles has been the place where Miami’s Cuban-American community gathers to eat, celebrate, and discuss politics. 66 I N S I G H T November 5 – 11, 2021 55

Considered by many to be Bel-Air’s prettiest home, owner Howard Ruby once likened the house to a Fabergé egg.

His wife, Yvette Mimieux, was nominated for three Golden Globe Awards and starred in films such as “The Time Machine” with Rod Taylor.

BEL-AIR’S MAJESTIC ‘IL SOGNO’ VILLA IS A DREAM An opulent display of masterly old-world craftsmanship and attention to detail makes this property one of a kind

By Phil Butler

F

56 I N S I G H T November 5 – 11, 2021

IL SOGNO BEL-AIR, CALIFORNIA $39,500,000 • 6 BEDROOMS • 10,607 SQUARE FEET • 0.96 ACRE KEY FEATURES: • HISTORIC DESIGN • UNIQUE ARCHITECTURAL FEATURES • LUSH PRIVATE GARDENS AND EXTERIORS • ULTRA-PRESTIGIOUS NEIGHBORHOOD • WINE CELLAR AND TASTING ROOM AGENT JADE MILLS ESTATES STEPHANIE ZEBIK, MANAGING DIRECTOR 310-285-7508

ALL PHOTOS BY JIM BARTSCH/JADE MILLS

or the first time in more than half a century, the Il Sogno villa (“The Dream”), located in the swanky Los Angeles neighborhood of Bel-Air, is on the market. With a list price of $39,500,000, this unique property is the historic showpiece of a neighborhood that’s home to celebrities such as Beyoncé and Jennifer Aniston. But this listing from the prestigious Jade Mills Estates of Beverly Hills is without a doubt a cut above.

One of Bel-Air’s most beautiful homes, this former residence of commercial real estate mogul Howard Ruby and his wife, Yvette Mimieux, a multiple Golden Globe-nominated actress, was built in 1928 by renowned architect and engineer Mark Daniels. The Tuscan-style villa is a six-bedroom, seven-bathroom, two half-bath, 10,607 square-foot-masterpiece set in a secluded enclave surrounded by the Bel-Air Country Club.

Purchased by Ruby in 1979, the property features interiors created by one of America’s greatest designers, Kalef Alaton. His vision came to life thanks to artisans flown in from Tuscany and the Amalfi coast to recreate an authentic Italian villa. Il Sogno’s design is similar to what Alaton created for the homes of Marilyn Monroe and Paul Newman, a motif that blends vintage ostentatiousness with

contemporary elements to create the overall eclectic style he was famous for.

The expansive floor plan also includes a ballroom, formal dining room, stunning solarium, formal living room, gourmet kitchen, stunning wine cellar with tasting room, and state-of-the-art gym and spa. The home features exquisite hand-carved fireplaces, immaculate plaster walls, delicate hand-painted ceilings and frescoes, terracotta and marble floors, and a spectacular “red library” showcasing craftsmanship that’s almost impossible to replicate today. The master suite has its own private balcony, patio with fountain, fireplace, and dual bathrooms and closets.

Il Sogno sits behind delicate, handcrafted iron gates that open onto a circular drive that winds up at a connected four-car garage. In classical Alaton style, the exterior of the villa matches the attention to detail given to the interiors, with marble statues, fine pottery, and fantasyland flora enveloping the private lap pool and the mansion. A private garden on the property was designed by florist David Jones, who counted among his clients Jacqueline Kennedy Onassis and Elizabeth Taylor. Ultimately, the overall impression Il Sogno gives, even with its grandiose furnishings, sensuous draperies, oriental rugs, and ornate furnishings, is transportive, warm, and comfortable.

The master bedroom’s vaulted ceiling is adorned with handpainted frescoes that give the space an air of opulence with a hint of the Italian Renaissance.

The unique, high-beamed ceiling in the formal living room shows off the intricate details that interior designer Kalef Alaton became famous for.

The mansion’s massive brick-lined wine cellar features a tasting corner and reflects the designer’s ideas of blending practical opulence with old-world charm.

The villa’s aptly named “Red Library” features handlacquered paneling and a cove ceiling with a skylight.

The verdant interiors and exteriors of the villa complement each other, giving the feeling of complete harmony.

I N S I G H T November 5 – 11, 2021 57

Luxury Living Cameras

PAINTING WITH PIXELS: DIGITAL MIRRORLESS CAMERAS Camera technology has come a long way from 35mm film, as seen in this sampling of mirrorless cameras that instantly capture moments and video in vivid detail.

By Bill Lindsey

Leica CL

Nikon Z 7II FX-Format Mirrorless Camera

MSRP: $3,195

MSRP: FROM $2,999.95

The classic styling of the CL underscores 24 MP resolution and 4K video capability. It features both a traditional viewfinder and rear-mounted monitor, while the L-Mount system accepts lenses from other manufacturers.

Nikon has embraced mirrorless technology with the Z 7II. Featuring 45.7 MP resolution, dual processors, a 493-point autofocus system, 4K video capability, and a staggering array of lens options make it wellsuited for professionals and enthusiastic amateurs.

MSRP:FROM $6,499.99

Industry-leading resolution and speed has many professional photographers making the switch to Sony mirrorless cameras.

Their flagship Alpha 1 features 50 MP resolution at 30FPS, real-time tracking, an auto-focus eye detection system, and gyro stabilization. It also shoots video in 8K for fast-moving subjects.

Fujifilm X-S10 MSRP: $1,399 WITH 18–55MM LENS

A lightweight camera with heavyweight capabilities, the 26 MP X-S10 can autofocus in 0.02 seconds, has Bluetooth and Wi-Fi, plus image stabilization to capture crisp photos or 4K video. Film Simulation Mode previews images in sepia, Verichrome, and 16 other effects.

58 I N S I G H T November 5 – 11, 2021

Canon EOS M6 Mark II MSRP: $1,099 W/EF-M 15-45MM LENS

The EOS M6 Mark II is an ideal backup for professionals or great for enthusiasts seeking a system that can evolve. It features 32.5 MP resolution, 4K video capability, a wide range of lens options, and can serve as a webcam.

COURTESY OF LEICA; COURTESY OF NIKON; COURTESY OF SONY; COURTESY OF FUJI; COURTESY OF CANON

Sony Alpha 1

TREASURES Saving Time Time waits for no man, but it’s rewarding to collect it

By Bill Lindsey

Lifestyle Watches COURTESY OF SOTHEBYS

A “complete set” of a watch with the original box and papers will command a premium value.

W

COURTESY OF ROLEX

e live in an age when the wristwatch has been replaced by an impersonal smartwatch supplying most of the features of a computer, or worse, no timepiece at all, relying instead on a cellular phone to keep track of time. As a result, analog watches have lost their appeal, relegated to dusty drawers.

But not by all. There exists a fervid appreciation of these tiny mechanical marvels whirring on a wrist, with vintage watches of 40 years or older enjoying an ever-growing fan base.

Vintage watches are like popcorn— the first taste leaves you wanting more.

60 I N S I G H T November 5 – 11, 2021

There are many reasons and ways to start a vintage watch collection. Some search for highly sought-after pieces in the hopes of reselling them at a profit. Others simply enjoy owning and wearing a variety of classic watches. Collections can be the result of “finds” at auctions, yard sales, dusty pawnshop shelves, or an inheritance.

THERE ARE NO rules. A “proper” collec-

tion might be worth $500,000 while another might top out at $75. Collections can be based on specific brands such as Hamilton or Cartier while others may focus on function, style, and age, such as dive watches, chronographs, or 1800s pocket watches. Enthusiasts may focus on gold Patek Philippe wristwatches, while others lust after $10 1950s Bulovas or field or pilot watches used by either side during World War II, often available $200 or less in fair to good condition.

Movie and celebrity exposure can affect prices, as seen with the Omega Seamaster Diver 300 chronograph worn

by James Bond in “No Time to Die,” the Omega Speedmasters worn on the moon by NASA astronauts (the Snoopy moonwalk commemorative edition is especially desirable), or the vintage Rolex GMT “Pepsi” worn

by Tom Selleck in “Magnum, P.I.” Watches sold as a complete set include the original box and papers, but in the world of vintage watches, this is rarely the case and isn’t a reason to pass on desirable watches and especially those acquired to be worn. Given their age, it is expected that most vintage watches have been worn, ranging

in condition from rough to “looks new” with prices reflecting the condition.

However, in some cases, what appears at first glance to be an old watch in bad condition may actually be a gem. The dials on 1950s-era Rolex Submariners were painted black, fading over time to a shade of brown. These “tropical dial” models are almost as highly sought after as the small batch of Submariners produced in the third quarter of 1957.

Featuring a dial with a red triangle at 12 o’clock and numerals slightly different than Subs before or after, even examples that look like “a ratty old wristwatch” can be worth upward of $30,000.

ASTUTE COLLECTORS RELY on reviews

and reference guides to learn how to identify specific models. Websites including Hodinkee.com and FratelloWatches.com offer a wealth of useful information, while Watchprint.com has an extensive selection of print reference guides such as Moonwalker Only, an authoritative guide to Omega Speedmasters.

Experienced collectors realize the history of a timepiece can affect its value.

While, in most cases, watches in good condition are always preferred, a rare watch in rough condition may be very valuable. That’s what drives collectors to

Lifestyle Watches COURTESY OF SOTHEBYS

LIFESTYLE

KEEPING TIME Preserving the past and staying on time

1 Decide Why You're Collecting Discovering a rare watch at a garage sale that can be resold for a huge profit is the dream, but finding a $5 vintage dive watch you’ll wear makes the search an adventure.

Auctions provide an excellent opportunity to view and bid on rare, collectible vintage watches.

COURTESY OF SOTHEBYS

scour auctions or garage sales hoping to find ticking treasures.

Rolex dealer Sean Dunn suggests: “When considering a vintage watch, look for examples in original condition.

A refinished dial, incorrect replacement parts, or a case that has been over-polished, wearing down the original edges, can affect value.”

WATCHES WITH NON-ORIGINAL parts

are known as Frankenwatches and can be difficult to identify. Helpful resources include internet watch forums and collector publications. Learning the history of watch models can reveal fascinating information about the makers. As one example, Rolex was founded in London in 1905 by Hans Wilsdorf and Alfred Davis under the name Wilsdorf & Davis.

Shortly thereafter, an office was opened in Switzerland and a trademark filed for the Rolex name, which was registered in 1915. The firm moved to Geneva in 1919. All shares of Rolex SA are owned by the Hans Wilsdorf Foundation, which contributes a share of annual earnings to charity.

The most important advice for those collecting expensive watches is to beware of counterfeits. One indication of

When considering an expensive watch, buy from a trusted source or have an expert inspect it. a fake Rolex is the second hand moving in “jittery” one-second motions rather than the smooth flow of the real thing.

Now, however, Rolex dealers have stories of counterfeits that were only discovered to be counterfeit when the case back was opened.

When considering an expensive watch, it’s best to buy from a trusted source if possible or at least to have an expert inspect it before money changes hands.

2 Decide What to Collect Research online collector forums to know what “holy grail” brands and models to look for, but also make a list of watches that, while not rare, you’d enjoy wearing.

3 Learn How to Spot Fakes A Cartier watch sold by a sidewalk vendor is probably counterfeit, but what about the $30 one on a yard sale table? Learn from online forums and reference guides.

I N S I G H T November 5 – 11, 2021 61

Travel Beaches

On Big Major Cay, the resident swimming pigs have become an attraction of their own, drawing many curious day-trippers.

​​Bahamas Dreamin’

With hundreds of picture-perfect islands, the only hard part is choosing where to go

By Tim Johnson

T

1 Big Major Cay (‘Pig Beach’) These pigs are famous—they’ve been featured 62 I N S I G H T November 5 – 11, 2021

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prominently on social media and on a reality show. People aren’t quite sure how this family of about 20 porkers ended up on an uninhabited sweep of sand in the Exumas, a group of 365 islands. Legend has it that they’re the ancestors of animals marooned by a long-ago shipwreck.

Today, they survive by drinking the water provided by natural springs and chomping down treats—which are plentiful—provided by passing sailors and day-trip visitors. They’ve been a boon for local tourism, with outfitters offering excursions to “Pig Beach,” a trip that usually includes a sandbar picnic, snorkeling in a grotto featured in two different James Bond movies, and a dip with nurse sharks. The grand finale: the pigs, which come—snorting and eager—to meet the boat.

Get your camera ready.

2 Paradise Island (Atlantis) No, it’s not a desert island—rather the opposite, in fact. But just a short drive from the capital city

ALL PHOTOS COURTESY OF THE BAHAMAS MINISTRY OF TOURISM AND AVIATION

he world is full of beautiful beaches, and you can make an argument for any number of sultry destinations as being the best. But there’s probably no place on earth that can boast the sheer variety and vivid, almost otherworldly wonder of the beaches in the Bahamas.

Here, the water is just bluer, the sand whiter, the greenery a little more verdant. The beers at the beach bar are somehow a bit colder. With 700 islands—only 30 of them inhabited—plus 2,400 smaller cays, the Bahamas are a tropical marvel. The names—Bimini, Abaco, Ragged Island—ring out like a Jimmy Buffett song, spreading out just west of Florida and stretching almost all the way down to Hispaniola.

Come here and you’ll be spoiled for choice. Here’s a guide to some of the finest locales that will provide an unforgettable swim.

Travel Beaches of Nassau, the mega-popular Atlantis remains a magnet for sun-seekers across the globe. It all started in the 1990s, when Paradise Island, once a legendary destination, was flagging. A top hotelier transformed this sunny spot into a resort with thousands of rooms, 20 swimming areas, a marina, and waterslides modeled on Mayan temples, plus the world’s largest openair marine environment—11 million gallons and more than 200 species numbering some 50,000 creatures. It’s possible to visit and never actually dip your toe in the Atlantic, getting sidetracked by the 30,000-foot spa, the golf course, or the casino. But there are three very good beaches totaling five miles in all, from the busy Atlantis Beach to the (relative) quiet of Cove Beach.

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Junkanoo is also a perfect place to see a local slice of life.

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The northernmost island in the chain, just 55 miles east of the Florida coast (reachable even by fast ferry from Fort Lauderdale), Grand Bahama’s unhurried pace feels a long way from the hustle and bustle of Nassau. Hammered by Hurricane Dorian in 2019, the island is rising again.

Here, you can find your own stretch of lovely, natural sand, perhaps at a place like Gold Rock Beach, which is part of Lucayan National Park.

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The Bahamas islands are located 50 miles off the coast of Florida.

4 Great Abaco Three miles long and just a half-mile wide, Green Turtle Cay is one of the placid “out islands” that sit just off the serpentine coast of Great Abaco. Despite its small size, you’ll find a variety of excellent beaches among the coves and bays, many of them lined with thriving coral gardens. At Gillam Bay, take a walk from the main town (home to just 450 people) and search for shells, and Bita Bay Beach is perfect for those learning to snorkel, with two coral reefs under sheltered waters just a short swim from the sand. And if you’re really up for some serious underwater exploration, join one of the legendary local snorkel or scuba dive guides and immerse yourself for an afternoon.

If You Go When to Go: MidDecember through mid-April is the high season, although the off-season brings lower prices and fewer crowds. The hurricane season is officially June through November.

Safety: Visitors should exercise caution on New Providence (Nassau) and Grand Bahama (Freeport) islands.

Getting There: Fly into Nassau and take connecting flights to the Out Islands.

Well-equipped marinas receive boaters.

Accommodations: These range from small private guesthouses to luxury hotels and mega-resorts.

5 Nassau (Junkanoo Beach) Sometimes it’s great to be close to the action. Set just steps from downtown Nassau, this beach has a lot going on. While there are plenty of tourists (it’s the closest beach to the cruise port), Junkanoo is also a perfect place to see a local slice of life. Come on a Saturday and join Bahamians as they barbecue the afternoon away, the scent of fresh conch, the national seafood, cooking on the grill. Grab a rum punch at a beach shack, and watch the big ships go by. Then wander over to the streets of the capital city for a little more fun—rum distilleries and food tours, plus 20 blocks of vibrant shops and restaurants in the center of Nassau, all sit just nearby.

With so many islands, it’s no wonder that water activities—on, in, or under the water—are so popular. Try snorkeling in the calm waters off Gold Rock Beach.

When the tide rolls out, the width of the sand expands dramatically, forming what locals call Grand Bahama’s “welcome mat.” Swim, snorkel, and paddle around in the calm waters, and when you’re ready for a little more adventure, cross the road to the northern part of the national park and the Lucayan Caverns, the world’s longest surveyed cave system.

Grand Bahama’s

unhurried pace feels a long way from the hustle and bustle of Nassau.

Tim Johnson is based in Toronto. He has visited 140 countries across all seven continents.

The megaresort of Atlantis on Paradise island.

I N S I G H T November 5 – 11, 2021 63

Food Restaurants

VERSAILLES RESTAURANT: COME FOR THE CUBAN SANDWICHES, STAY FOR THE COMMUNITY The iconic Miami restaurant, a gathering place for local Cuban Americans and hungry tourists alike, is celebrating 50 years Bill Lindsey

ALL PHOTOS COURTESY OF VERSAILLES RESTAURANT

S

ince its opening 50 years ago in Miami, Versailles has become arguably the world’s most famous Cuban restaurant. The accolades are well-deserved, with its wide array of house specialties including picadillo, chicken chicharrones, an epic café cubano, and the best Cuban sandwiches north of Havana.

The location on Southwest 8th Street—Calle Ocho—is far from the nonstop action of South Beach or even Downtown Miami with its forest of gleaming skyscrapers and views of cruise ships headed for tropical destinations. Located in the heart of Little Havana, just west of a car dealership and across the street from a cemetery, Versailles has a setting more akin to a pharmacy than a world-class restaurant. Yet it is in fact worldclass, with patrons streaming in every day to grab a fast cafecito from the walk-up ventanita or pack the tables in the mirrored rooms, where they’re served by a wait staff that greets both regulars and newcomers like family.

“This year, we celebrate 50 years of having the privilege to serve our community and patrons around the world, giving them a taste of our Cuban culture,” said Luly Valls, a third-generation owner and granddaughter of founder Felipe Valls Sr. “It fills me with pride, seeing the fruits of all the hard work my family has poured into Versailles.” On the eve of the anniversary celebration on Nov. 10, the Valls family is encouraging patrons to submit personal stories, photos, and other materials for an archive curated by HistoryMiami Museum related to Versailles and the Cuban exile experience.

A key factor in the restaurant’s

64 I N S I G H T November 5 – 11, 2021

Versailles is a rallying point for both celebrations and protests.

Take your pick from the expansive, affordable menu.

Sip a café cubano, or cafecito, with your pastries.

VERSAILLES The mustorders: Café cubano (Cuban espresso) and their signature Cuban sandwiches The crowd: More than 2,000 diners per day Location: 3555 Southwest 8th Street, Miami, Fla. 33135 Hours: 8 a.m. to midnight Mon.– Thurs., 8 a.m. to 1 a.m. Fri. and Sat., 9 a.m. to midnight Sun..

Contact: 305-444-0240 VersaillesRestaurant.com

IInside the mirrored rooms, patrons are served by a wait staff that greets both regulars and newcomers like family.

success is its importance as a rallying point for Cuban expatriates. When the doors first opened in 1971, Cubans were arriving on Freedom Flights while others desperate for freedom risked their lives to cross a 90-mile gauntlet of dangerous, shark-filled waters on homemade rafts. They found a taste of home at Versailles, making it a popular place to meet and discuss politics. Since then, the restaurant has become a community fixture for three generations of Cuban Americans.

To this day, politicians and those

vying for local, state, or federal office make the pilgrimage to Versailles to seek favor and win votes.

But in the end, it’s the authentic Cuban food that draws patrons from around the globe: Versailles has the real thing, as proven by the throngs of Cuban regulars who come back time after time to enjoy meals just like their abuelas made.

Bill Lindsey is an award-winning writer based in South Florida.

He covers real estate, automobiles, timepieces, boats, and travel topics.

Horse Shows and Polo Matches

All you need to know, from what to wear to the art of the divot stomp Horse shows and polo matches are exciting, high-energy events. But if you’ve never attended such an event, how do you know how to behave and what to wear? This guide has the answers.

By Bill Lindsey

4 The Art of the Divot Stomp

1 What to Expect Spectators at horse shows are often seated in stadium seats located above and a fair distance away from the ring. Binoculars may be needed to watch horses and riders as they go through their paces.

Those attending a polo match may be seated on picnic blankets on the sidelines, feeling the breeze as the horses— referred to as ponies—gallop past. Polo matches are essentially an outdoor summer party with a very casual, fun atmosphere.

Horse show intermissions are pretty straightforward, but those new to polo will be baffled by the halftime activities.

A mass of people will make their way onto the field, drinks in hand. They chat and laugh while performing odd steps known as the divot stomp.

Horse hooves tear up the field, so spectators stomp the divots back into place while horses and riders take a well-deserved break.

4 Don’t Pet the Horses

CSA-PRINTSTOCK/GETTY IMAGES

2 What to Wear Leave Derby Day feathery fascinator headpieces at home to avoid blocking the view of those behind you. Spectators usually choose to wear riding pants, clean jeans, and collared shirts—quite a few will be wearing boots. In Palm Beach, Florida, sundresses, dress shorts, and polo shirts are the preferred uniform. Shoes or boots are suggested over heels and sandals, which could sink into the grass or allow a close encounter with horse poo during the divot stomp.

3 How to Behave Polo was invented by warriors practicing their riding skills using a human head as the ball. Things aren't quite as lively today, with polite enthusiasm welcome and phones muted during play.

At horse shows, remain seated and clap politely.

Horses and riders are concentrating intensely, making it critical that fans avoid distracting actions. Cellphones should be muted during the performances, with calls being made from the lobby during intermission.

Riders and horses are intent upon entering the ring to perform and then to go straight back to the stalls, which are always off-limits before, during, and after the show. Polo ponies are the jocks of the equestrian world, and as such, they aren't a good choice for a nuzzle. Regardless of how impressive a rider has performed during a match, they won’t stop while headed on or off the pitch.

II N S I G H T November.

November 55–- 11, 11, 2021 2021 65 65

Epoch Booklist

NOTEWORTHY READS HISTORY

The American Story

By David Barton and Tim Barton

The Guiding Hand of Providence Many events leading to America’s founding could be considered pure chance or miracles—depending on one’s perspective. This fascinating retelling of early American history focuses on the role of Providence and provides invaluable clarity for our modern times.

WALLBUILDERS PRESS, 2020, 384 PAGES

Lady Editor

By Melanie Kirkpatrick

A Woman of Perseverance and Wisdom

This delightful and inspiring read highlights the practically forgotten figure of Sarah Josepha Hale, considered the godmother of Thanksgiving. Her perseverance is ever-pres-

This week, we revisit “Antigone,” a play that speaks to our times, and delve into subjects as varied as rare bird egg trafficking and fascinating food adventures.

ent throughout the book, from her time as a struggling seamstress to her tenure as the editor of one of the most influential magazines in America, Godey’s Lady’s Book. Her writings, whether public or private, had powerful sway. In this book, Hale is rightly given center stage as one of America’s most influential figures.

ENCOUNTER BOOKS, 2021, 323 PAGES

Astoria

By Peter Stark

A Pacific Empire in the Making

Jump on board for this harrowing adventure following the fate of an ambitious quest in the 1800s. Two men with two visions create a lasting legacy in American history. Business tycoon John Jacob Astor has a grand entrepreneurial plan to create a global enterprise. President Thomas Jefferson envisions the spread of democracy to the West Coast. Author Peter Stark brings this largely forgotten saga to life, as we follow two groups on their respective heroic quests. A riveting read of exploration and survival.

HARPER COLLINS, 2015, 308 PAGES

66 I N S I G H T November 5 – 11, 2021

Are there books you’d recommend?

We’d love to hear from you. Let us know at features@epochtimes.com

NONFICTION

The Falcon Thief

By Joshua Hammer

The Art of Egg Snatching

This tale is bold and brilliantly told in a fastpaced narrative. Readers will be swept along this ride of a likable rogue, Jeffrey Lendrum, who gets his kicks (and profits) from stealing rare bird eggs. His nemesis, an equally likable British wildlife detective, Andy McWilliam, is determined to end his egg pillaging days. This true-crime drama will keep readers rappelling through the pages.

SIMON AND SCHUSTER, 2021, 275 PAGES

FOOD

Gastro Obscura: A Food Adventurer’s Guide

By Cecily Wong and Dylan Thuras

For Hungry Armchair Travelers Beer bathing in an Austrian castle. Pyrotech-

nic fishing in Taiwan.

A pecan pie vending machine in Texas. These are some of the weird and wondrous culinary curiosities explored in this fascinating guide.

Bite-sized stories uncover obscure local traditions, rare delicacies, hidden-gem destinations, and near-forgotten histories.

WORKMAN PUBLISHING COMPANY, 2021, 448 PAGES

CLASSICS

FOR KIDS

The Yearling

By Marjorie Kinnan Rawlings

The Love Between a Child and a Pet

A Pulitzer Prize winner from 1938 about a backwoods Florida boy, Jody Baxter, and the fawn he adopts, Flag. We read of Jody’s coming of age and the tension that occurs when Flag begins eating the family’s crops.

An American classic.

Antigone

By Sophocles

SCRIBNER PUBLISHERS, 2021, 416 PAGES

Right Versus Tyranny

A classic that speaks to our time. Against the mandate of Creon, king of Thebes, Antigone buries her brother, whom Creon considers a traitor.

She is then condemned to death. This tragedy raises many excellent questions: Do we take the righteous path, as did Antigone, or obey a tyrant’s orders? To whom do we owe fealty, the gods or our rulers?

What takes precedence: love of family or obedience to the state? What occurs when that state censures the obligations of family and faith?

Sophocles’s play condemned tyrants then and does so today.

PRESTWICK HOUSE, 2005, 80 PAGES

Johnny Tremain

By Esther Forbes

The Tale of a Young Patriot

This 1943 award-winning historical fiction novel focuses on a teenager engaged as a young silversmith apprentice in Boston and his part in the explosive events leading up to the Revolution. An American classic; intended for teen readers.

CLARION BOOKS, 2011, 320 PAGES

Epoch Watchlist

Ian Kane is a U.S. Army veteran, filmmaker, and author.

He enjoys the great outdoors and volunteering.

WHAT TO WATCH

This week, we check out newer action films, along with a Western trilogy that showcases wholesome values and standing up for what’s right.

ACTION | ADVENTURE | FANTASY

ACTION | ADVENTURE | THRILLER No Time to Die (2021)

Shang-Chi and the Legend of the Ten Rings (2021 ) In San Francisco, Shaun (Simu Liu) and his friend Katy (Awkwafina) make a living as parking valets— when they’re not out partying. Things get serious for them when Shaun gets attacked on a bus by members of a brutal organization known as the Ten Rings.

Shaun reveals to Katy that he’s a martial arts master named Shang-Chi and intends to travel to Macau to protect his sister from the Ten Rings. This puts Shang on a collision course with his wicked father, Xu Wenwu (Tony Leung). Apart from some dollops of political correctness, this film has some phenomenal action scenes, mixed in with peppy humor.

MOVIE INFO

Release Date: Sept. 3, 2021 Director: Destin Daniel Cretton Starring: Simu Liu, Awkwafina, Tony Chiu-Wai Leung Runtime: 2 hours, 12 minutes MPAA Rating: PG-13 Where to Watch: In theaters

CLASSICS Fort Apache (1948)

Lt. Col. Owen Thursday (Henry Fonda) is assigned command of a cavalry outpost on the fringes of the western frontier. It’s a job that was originally reserved for Cpt. Kirby York (John Wayne).

Thursday dislikes both the soldiers he’s been given command over (including York) and the Apaches. The first of John Ford’s “Cavalry Trilogy.”

James Bond (Daniel Craig) has fallen for his love, Madeleine (Léa Seydoux), and whisked her away to Italy. Their vacation is cut short; Bond gets ambushed by assassins and nearly killed.

He soon learns that she seems to have been keeping a colossal secret from him, so he puts her on a train and disappears from her life.

Years later, Bond is drawn back into the world of espionage because a sinister bio-weapon aimed at the target’s individ-

ual DNA has fallen into the wrong hands.

This is a decent action thriller for those who enjoy a darker version of the Bond character.

MOVIE INFO

Release Date: Oct. 8, 2021 Director: Cary Joji Fukunaga Starring: Daniel Craig, Ana de Armas, Rami Malek Runtime: 2 hours, 43 minutes MPAA Rating: PG-13 Where to Watch: In theaters

DRAMA A Beautiful Day in the Neighborhood (2019)

She Wore a Yellow Ribbon (1949)

Rio Grande (1950)

After the defeat of Lt. Col. George Custer and his cavalry regiment by a coalition of Native American tribes, a small outpost braces for further hostilities and bloodshed. Cpt. Nathan Brittles (John Wayne) is ordered to patrol the area for any danger. But things become complicated when Brittles is required to take a couple of women along. The second of John Ford’s “Cavalry Trilogy.”

Kirby Yorke (John Wayne), a lieutenant colonel in command of a cavalry regiment in Texas, tries his best to defend the area against marauding Apaches. But he faces a new type of challenge when his son Jefferson is randomly assigned to his unit, and estranged wife Kathleen (Maureen O’Hara) shows up to take their son home with her.

The third of John Ford’s “Cavalry Trilogy.”

This film details the life of American icon Mister Fred Rogers (Tom Hanks). However, in a clever move, it’s less about his show, “Mister Rogers’ Neighborhood,” and more about how he affected one person in particular, journalist Lloyd Vogel (Matthew Rhys).

Vogel is a pessimistic person who is at odds with members of his family. When he's assigned to interview Mr. Rogers, he sneers at the task. From there, we see how the

fascinating interplay between the two men unfolds, with many unexpected turns along the way.

MOVIE INFO

Release Date: Nov. 22, 2019 Director: Marielle Heller Starring: Tom Hanks, Matthew Rhys, Chris Cooper Running Time: 1 hour, 49 minutes MPAA Rating: PG Where to Watch: Amazon Prime, DirectTV, Redbox, Apple TV

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THE NE W YORK TIMES

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NBC NE WS

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"A BIG PUBLICATION." P OLITICO 0 6 –2 3–2 0 10

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THE ATL ANTIC 0 1–13–2 0 2 1

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SAN FR ANCISCO CHRONICLE

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THE NE W YORK TIMES

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ReadEpoch.com

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