One wonders what the portent of this is....

So China actually announces that Billions have been stolen by businessmen fleeing state owned companies to the US. Knowing that this could be embarrassing to themselves, I doubt they announced it just to be nice.

Either they are A: inventing reasons to crack down domestically on the autonomy offered to companies currently, in an effort to sidestep any criticisms of the economy in China (hey, whatever is happening isn't the Govt's fault, its all b/c these crooks, so we're going to crack down on them and HARD) or B: Looking for a way to stage a platform of grievances from which to declare economic war with the US (those shady Americans knew what was going on but allowed all that money into their country illegally, and WE WANT IT BACK) or C: All of the above. Another possibility is D: Something else, that I haven't even thought of, but is still bad for the US of A.

Don't expect this to go away, at least not domestically in China, the govt there will beat this horse whenever they feel it is in their best interest (the ruling cabal, not China). Combine this with China divesting itself of American debt in areas that it can quickly liquidate, and it looks like the Chinese are preparing for something. Keep your eyes peeled and if you aren't already out of the stock market, now's your chance.