3rd of December 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
Graeme has been using ChinesePod since 2007
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People's Daily
China's central bank moves to boost liquidity
The People's Bank of China announced on the evening of Nov. 30 that effective Dec. 5, 2011, the RMB deposit reserve ratio of deposit-taking financial institutions will be lowered 0.5 percentage points to help ease the liquidity pressure on banks and promote reasonable growth of money and credit.
Releases liquidity
"The central bank's decision to lower the deposit reserve ratio has given major consideration to the high level of the current deposit-reserve ratio, the decrease of funds outstanding for foreign exchange and other factors, which have led to tight bank liquidity and curbed credit availability of banks," said Lian Ping, chief economist of the Bank of Communications of China.
Why is China's financial sector going global?
According to data from the China Banking Regulatory Commission, by the end of 2010, the five major Chinese banks — the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications — had established 89 first-class overseas operating agencies in Asia, Europe, North and South America, Africa and Oceania and purchased or shared in 10 overseas enterprises, and the six Chinese commercial banks had also established five overseas branches and five overseas loan offices.
Why are the state-owned banks accelerating their strategy to expand worldwide?
China may adopt emission limit
DURBAN / BEIJING - China is likely to agree to a quantified target to limit its greenhouse gas emissions after 2020, said a senior expert with a government think tank.
But this depends on the outcome of climate change negotiations and China's level of development by that time, said Xu Huaqing, a researcher from the Energy Research Institute affiliated with the National Development and Reform Commission, the government body that oversees climate change issues in China.
This is the first time that China has mentioned a possible timetable regarding its greenhouse gas emissions.
US military base in Australia shows 'Cold War mentality'
BEIJING - The Defense Ministry on Wednesday criticized Washington's decision to build a de facto military base in Australia, warning it could harm the interests of all sides concerned.
WB economist: US, EU must heed China's wisdom
Beijing Dec. 1 (People's Daily Online) – The crucial factor in surmounting the economic difficulties that plague the United States and the European Union is not money but political wisdom, said Justin Yifu Lin, the World Bank's chief economist.
Kaixin OpEd - I have pointed out, on many occasions, that America is acting like a spoilt 200 lb teenager (that heaps of kilograms) who has been given a 6 litre V8 Chevy (ie: hegemonic power in the 2nd half of the 20th century). The teenager just ain’t got the wisdom to handle that much power.
Hot air: Chinese experts talk global warming
The 17th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change and the seventh session of the Meeting of the Parties to the Kyoto Protocol kicked off in Durban, South Africa on Nov. 28.
The People's Daily interviewed several climate experts on certain hot topics at the Durban climate change conference.
Expert: China's economic outlook still rosy
China's economy has experienced three cycles since the Reform and Opening up policy was implemented.
The peak years were 1978, 1984, 1992 and 2007, when the GDP growth rates stood at 11.7 percent, 15.2 percent, 14.2 percent and 14.2 percent, respectively. The bottom years were 1981, 1990, 1999 and 2009, with the GDP growth rates at 5.2 percent, 3.8 percent, 7.6 percent and 9.2 percent, respectively.
Every cycle lasts between nine and 10 years on average. In the current economic cycle, 2007 was the peak year, and 2008 and 2009 were the declining years. In the last cycle, economic expansion lasted from 2000 to 2007, and the decline lasted only two years from 2008 to 2009. In 2010, China's economy entered a new expansion period and the economic growth rate was 10.4 percent. Therefore, we can predict the new round of economic expansion will also last between seven or eight years.
The world economy has walked out of the shadow of depression and entered a new round of expansion in view of either the law of economic cycle or practice. The United States is the largest economy in the world, accounting for 23.6 percent of total world economy. Therefore, its economic growth situation has a significant impact on the world economic operation.
China backs Pakistan's efforts in safeguarding independence, sovereignty, territorial integrity: FM
BEIJING, Nov. 28 (Xinhua) -- Foreign Minister Yang Jiechi said Monday that China will consistently support Pakistan's efforts in safeguarding national independence, sovereignty and territorial integrity.
Kaixin OpEd - I watched in awe at the audacity and certainty America conducted the mission to assasinate Osama bin Laden. America has released an advertisement , which they call a documentary, justifying its blatant violation of Pakistan’s national sovereignty.
There was and is no doubt in America's mind ...
In my opinion the debate as to the fate of Osama bin Laden is a separate issue.
The debate as to whether Pakistan was capable of carrying out such a mission is a separate issue.
The debate as to whether sharing the intelligence with Pakistan would have led to his escape is another issue.
If Pakistan were capable of carrying out a similar mission in America, can you imagine the howls of outrage from America.
If China were to carry out such a mission in another country, can you imagine the howls of outrage from America.
America is like a teenager who has been given the keys to power far too young. The teenager is not wise enough to know how to use this power. It is dangerous, and the sooner that power is balanced and bought under control the better.
Govt tries to soothe foreign companies' concerns
BEIJING - Foreign enterprises doing business in China are enjoying many preferential investment policies compared with their domestic counterparts, said Vice-Premier Wang Qishan on Monday.
"In many sectors, the treatment provided for foreign businesses are still better than those for Chinese domestic companies," said Wang, responding to complaints by foreign companies about the investment environment in China. "If there was anything the Chinese government could improve, it could be market access."
Over the last three decades, foreign businesses have enjoyed preferential policies including lower taxes and cheaper land and resources compared with domestic players, Wang told member companies of the China Association of Enterprises with Foreign Investment.
"China is in a transition period, changing the super national treatment to the national treatment on a gradual basis," said Wang.
China not worried over economic slowdown
The World Bank has lowered its forecast for China's GDP over the next two years in its biannual economic update on East Asia and Pacific. The report shows that China's GDP growth rate is expected to stand at 9.1 percent in 2011 and slow to 8.4 percent in 2012.
Domestic economists generally agreed with the World Bank's judgment on China's economic slowdown. Research institutions and experts mostly said that the probability that China's economic growth will slow over the next two years is very high.
Chinese investments benefit European companies
Chinese enterprises have 70,000 employees in Europe
The first China-E.U. Business Cooperation Forum, also known as the Antwerp Forum, was held in Antwerp, Belgium from Nov. 22 to Nov. 23.
The trade value between China and Europe reached 480 billion U.S. dollars in 2010 and is expected to hit 570 billion U.S. dollars in 2011, said Sun Yongfu, director of the European Affairs Department of the Ministry of Commerce of China, said during the forum. The European Union has beeen China's largest trade partner for seven consecutive years.
Caught up in the jade craze
For thousands of years, no gem in China has been given the same status and honor as jade.
It was used to make imperial seals in the ancient times, carved into gods or mythical wild animals to protect the wearer from misfortune, and more recently embedded into the gold medals for the Beijing Olympic Games in 2008.
Over the last decade, however, the gem has also become extremely popular with collectors - not for its representation of moderation and virtue, but for its skyrocketing price.
The price of fine nephrite, just natural stone, has climbed from 10,000 yuan a kilogram to at least 1 million in 10 years. Top-grade art work in Hetian jade? Possibly priceless. An exhibit of works such as this in Beijing ended this week.
Policy of 15-year free education promoted in China's Gansu Province
Students from primary school have class in Kazak Autonomous County of Aksay, northwest China's Gansu Province, Nov. 21, 2011. Under the direction of the central policies, autonomous counties with better education conditions in Gansu Province promoted 15-year free education. Since 2009, three counties have carried out the policy while another one is expected to implement it by the spring of next year.
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
China Daily
Sino-US trade up 17% in Jan-Oct
BEIJING - Commerce Minister Chen Deming said Friday that China-US trade rose 17 percent year-on-year to reach $363 billion in the first ten months of the year.
The increase led to China and the United States becoming each other's second-largest trading partners, Chen said at a dinner held by the American Chamber of Commerce in China (AmCham-China).
Trade between China and the United States will likely exceed $400 billion in 2011 and the figure will further increase in 2012 according to forecasts from the ministry and customs authorities, Chen said.
"Next year will be a difficult year (for global economy), and a year in which China and the United States should deepen cooperation and join hands in coping with the crisis," Chen told Chinese and American entrepreneurs who attended the banquet.
Chen said the growth rate of the world's second largest economy will stay above 9 percent this year.
RRR cut unlikely to revive housing
INAN - A reserve requirement ratio (RRR) cut announced Wednesday will not be strong enough to stem the current decline in real estate prices, analysts said Thursday.
China's central bank announced Wednesday that it will lower banks' reserve requirement ratio (RRR) by 50 basis points for the first time in three years in order to replenish liquidity in the country's banking system as inflation eases.
PMI drop indicates further slowdown
China needs to loosen policies to maintain growth, analysts say
BEIJING / SHANGHAI - China's manufacturing sector shrank in November for the first time in nearly three years, a fresh sign of a further economic slowdown that analysts say may prompt the country to loosen monetary policies.
Fiscal tools needed to compensate for tightening: Expert
'Fine-tuning money policies won't change overall climate'
BEIJING - China will keep its "prudent" policies in 2012, but it should adopt more fiscal tools to compensate for the slowing money-supply growth and weakening economy, a central bank adviser said on Wednesday.
"Fine-tuning the monetary policies doesn't change the overall stringent climate ... and money supply will grow at around 8 or 9 percent, instead of the double-digit rate of the past few years," said Xia Bin, a member of the monetary policy committee of the People's Bank of China (PBOC).
Meanwhile, the central bank is implementing a "differential" reserve-requirement ratio (RRR) policy - each bank will get a different RRR based on its liquidity and leverage level, Xia said at an economic forum in Beijing.
Experts: TCM can help to fight AIDS
BEIJING - Traditional Chinese Medicine (TCM) has helped 17,000 HIV carriers and AIDS patients in China since 2004, experts said on Wednesday.
"TCM performs as an effective supplement to Western therapy in terms of alleviating patients' symptoms, including fever, cough, asthenia and diarrhea, thus making life easier for them," said Wang Jian, deputy director of the TCM Center for AIDS Prevention and Treatment with the State Administration of Traditional Chinese Medicine.
China started to give AIDS patients free TCM therapy in a pilot project carried out among 2,300 patients in five provinces in 2004.
By last October, the projects had expanded to 19 provinces.
Yuan is close to equilibrium rate: Economist
BEIJING - China's RMB, or the yuan, is getting close to the equilibrium value, a government think tank economist said, refuting the US accusation that the currency is undervalued.
The yuan's previous downward moves and the slowing growth of China's foreign exchange reserve signalled the currency "may" already have entered a new stage, Li Yang, vice president of the Chinese Academy of Social Sciences at a finance forum.
According to latest statistics, the country's forex reserve increment in the third quarter was $50.9 billion less than that of the second quarter, dragged down mainly by the narrowing trade surplus.
Li's viewpoint on the currency's equilibrium was echoed by Shen Jianguang, chief economist with Hong Kong-based Mizuho Securities Asia, who also refuted the US claims that the RMB has space to further appreciate about 20 percent.
He said the United States may have drawn conclusions from the International Monetary Fund's (IMF) forecast on China's balance of payments, which is not true.
China: 'Extend Kyoto Protocol'
Durban talks should give priority to commitment, spokesman urges
BEIJING - China on Friday said extending the Kyoto Protocol's first commitment period should be the top priority at the upcoming global climate talks.
The Kyoto Protocol is an international agreement to set binding targets for 37 industrialized countries and the European community for reducing greenhouse gas emissions from 2008 to 2012.
It is also the only current legal binding document to cut greenhouse gas emissions. The Kyoto Protocol could be in jeopardy if countries fail to reach an agreement on an extension at the Nov 28 to Dec 9 talks in Durban, South Africa, held under the United Nations Framework Convention on Climate Change (UNFCCC).
"When it comes to tackling climate change, countries should follow the principles of common but differentiated responsibilities, fairness and individual capabilities," Foreign Ministry spokesman Liu Weimin said at a news conference on Friday.
Howl of the 'Wolf Dad'
Businessman says hitting his kids got them into top college
BEIJING - The list of rules in Xiao Baiyou's house is endless: No Coca Cola while surfing the Internet, no air conditioner even in the summer, no pocket money, and definitely no socializing or extra curricular activities.
His four children are not even allowed to open his refrigerator without getting permission.
The punishment for rule-breaking is more often than not a whack with a rattan cane.
"A father is like a general, and there are rules to abide by and punishment to shoulder if they are broken," said the 47-year-old. "Nowadays Chinese parents are too soft; they have abandoned the traditional Chinese way of good parenting."
Xiao, who was nicknamed "Wolf Dad" in a recently published memoir, even credits his stern parenting style for the fact that three of his offspring now attend Peking University, one of China's most prestigious educational institutions.
According to Xiao's philosophy, children under 18 are like animals and cannot distinguishing right from wrong.
See Kaixin's - Tiger Mum - Amy Chua 'Battle Hymn of the Tiger Mother'
Elderly women have tougher time than men
BEIJING - A recent official report revealed that Chinese women face more obstacles in their old age than men who are at the same stage in their lives.
Experts blamed that disparity on the tendency of elderly women to have lower incomes and longer lives, according to the report, which was compiled by the National Bureau of Statistics.
In China, nearly 46 percent of women in their 60s rely on children to help them pay for their daily expenses, which is 24 percentage points more than elderly men do, the bureau said at the fifth national meeting on women and children affairs, which was held on Monday.
"The majority of elderly women, especially in rural areas, are housewives who barely had the chance to receive an education 40 years ago or even longer," said Fang Jiake, deputy director of the Hetong Senior Citizens' Welfare Association in Tianjin.
"So women are more vulnerable to poverty in their old age and depend heavily on their children to support them," Fang said.
An elderly woman sells melon seeds and guavas in a shopping street in Lanzhou, capital of Northwest China's Gansu province, on Nov 10. Local media reported that the 83-year-old woman has to make a living by hawking even though she has five adult children, all of whom refuse to support her.
East meets east
Eastern and central Europe is a growing market for China and a gateway to the western region of the continent
The medieval splendor of Prague seems far removed from the skyscrapers of China's modern urban metropolises of Shanghai and Shenzhen - but there is an increasingly close and important trading relationship between Central and Eastern European (CEE) countries and the world's second-largest economy.
Rows over the value of the yuan might overshadow China's trade relationship with the United States and Western Europe but trade between CEE countries and China stands at more than 10 times the level in 2001 and has grown at 32 percent a year over the past 10 years.
Decoding the economic boom
Prominent scholar stresses that it is time for US, China to work together
For more than 50 years, Orville Schell has been explaining China to Westerners. Much before his maiden visit to the Chinese mainland in 1975 at the age of 34, he had already written three books on China.
During that trip when China was still in its last years of the "cultural revolution" (1966-1976), Schell worked with a group of American youngsters for a month in Dazhai, a model agricultural brigade in North China's Shanxi province. He also worked at the Shanghai Electrical Machinery Factory located in the city's western suburbs of Minhang.
Progress made in HIV/AIDS campaign
Latest official estimate shows slower rate of increase on the mainland, Shan Juan reports in Beijing.
About 780,000 people will be living with HIV/AIDS on the mainland by the end of this year, 40,000 more than 2009, according to an estimate issued jointly by the Ministry of Health and UNAIDS.
Nearly 370,000 sufferers have been detected, including 154,000 with full-blown AIDS, the report said. Of the 200,000 who need treatment according to World Health Organization (WHO) standards, 130,000 are receiving it.
Nearly 75 percent of the 216 children who attend primary school in Lulou village, Anhui province, are HIV-positive or were orphaned when their parents died of AIDS. Many Anhui villagers were infected when they sold their blood illegally in the late 1980s and early 1990s.
Stamp exhibition posts a profit
A rare stamp auction at a record-breaking philately exhibition in Wuxi attracted both specialist collectors and hordes of visitors. Shi Jing reports.
A set of stamps commemorating Peking Opera master Mei Lanfang. Provided to China Daily
Singing the praises of Xibaipo
A tour of the revolutionary sites of Hebei province ideally takes in Xibaipo Museum, an interactive guide to China's civil war, Ranzhuang's Underground Tunnel Museum account of the War of Resistance against Japanese Aggression, and the military base of Handan - leaving time for the attractions of Baiyangdian Lake and Goddess Nuwa's Temple as a natural counterpoint to history.
Waxworks of Liu Shaoqi (from left), Ren Bishi, Mao Zedong, Zhou Enlai and Zhu De are on display at the museum.
China's Top 10 Leisure Spots
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Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
XinHua News
China cannot rescue Europe with foreign reserves
BEIJING, Dec. 2 (Xinhua) -- China cannot use its 3.2 trillion U.S. dollars in foreign exchange reserves to rescue other countries, a senior diplomat said on Friday.
"The argument that China should rescue Europe does not stand, as reserves are not managed that way," Vice Foreign Minister Fu Ying said at the Lanting forum, a gathering of Chinese officials, scholars and social groups held by the Ministry of Foreign Affairs to discuss international issues and foreign policy.
"China is not absent from international efforts to rescue Europe; it has been a positive and healthy participant," Fu said.
Since the outbreak of the European financial crisis, China has dispatched more than 30 procurement delegations to Europe, helping to boost imports from the continent, Fu said.
Fu added that there are many misunderstandings about the use of China's foreign reserves. "Foreign reserves are not domestic income or money that can be disposed of by the premier or finance minister," she said.
"Foreign reserves are akin to savings, and their liquidity should be ensured," Fu said.
Kaixin OpEd – So the Europeans, having gorged on lattes, excess, greed and shonky bookmaking, while looking down on China and, with a smirk, pointing out that as China’s concept of human rights did not agree with theirs, China must be in the wrong ….
Suddenly the waiter turns up with the bill for the lattes and the party is over.
What to do? What to do?
First things first ….. order another latte.
Let me think? Put our economic house in order. Ha Ha, don’t be silly. We have grown accustomed to this standard of living. It is our right to have this standard of living.
Work?
No-one mentioned work before.
Print more money … well, yes, lets, lots!
However, everyone knows that is shonky money.
Yes, please, another latte, oh, and do you think you could rustle up a glass of chardonnay?
What we need is real money.
Money made from hard work. Money that is classed as savings. Real money.
Now, let me see, who has any real money?
Oh … really …. oops …. brace yourself and smile ingratiatingly.
I still think your human rights stink China, and my personal hero is Ai Wei, wei … wei wei ….. wei wei wei …. but you have a moral obligation to wash away your sins by giving us your savings.
(Wei is pronounced way)
Hmmm, as far a bloody wei as he can get …. now, that’s not nice.
What was that? Invest in our companies? Naaah, that would mean working for it? Silly Chinese, they just don’t understand their place. After a few hundred years of colonialism, you would think they would have realised that us Europeans are superior.
Islam?
Isn’t that a terrorist organisation?
That chardonnay was an excellent year don’t you think.
Chinese premier pledges more financial aid to AIDS patients, urging less discrimination
BEIJING, Dec. 2 (Xinhua) -- Chinese Premier Wen Jiabao on Thursday pledged new measures to help people living with HIV/AIDS obtain affordable drug treatment, enjoy fair job and education chances and avoid being discriminated.
State Council, or the Cabinet, will soon send inspection teams to some regions with high HIV/AIDS prevalence to oversee the implementation of the central government's AIDS policies, he said.
Wen made the remark in Beijing during a discussion with a group of people representing HIV carriers and AIDS patients, doctors and AIDS researchers on the World AIDS Day, which falls on Thursday.
China's AIDS control experience can be shared elsewhere: UNAIDS
BEIJING, Nov. 30 (Xinhua) -- China's efforts to fight AIDS are impressive and its experience can be shared, according to Michel Sidibe, executive director of the Joint United Nations Programme on HIV/AIDS (UNAIDS).
More measures needed to deepen healthcare reform in China: vice premier
BEIJING, Nov. 29 (Xinhua) -- Vice Premier Li Keqiang on Tuesday said the government is looking at measures that will deepen the reform of China's health care system, including increased allowances and expanding the coverage of the country's essential medicine system.
Li made the remark while presiding over a health care-themed meeting convened by the State Council, or China's cabinet, according to a statement issued after the meeting.
He said the government will raise the level of allowances for medical insurance plans in both rural and urban areas, although no details were given in the statement.
He said the reforms are aimed at allowing all of the country's citizens to take part in medical insurance plans, ensuring universal access to basic health care services.
A total of 1.29 billion Chinese, or 95 percent of the nation's population, are currently covered by medical insurance, while the price of basic medicine dropped by an average of 16.9 percent during the 2009-2011 period, according to the meeting.
Premier urges protection of women's, children's rights
BEIJING, Nov. 27 (Xinhua) -- "The social status of the female population indicates the level of social progress (of a nation), while children are the future and hope of a nationality and a nation," Premier Wen Jiabao said on Sunday.
While addressing the fifth National Working Conference on Women and Children, the premier highlighted the importance of women's and children's wellbeing, noting they bear on "the future of the nation and the nationality."
China's women and children, who make up two-thirds of the country's 1.3 billion strong population, are an "important force for promoting national development and social progress," said Wen, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee.
See Kaixin's - Women in China
Ex-British PM on China's euro zone aid
BEIJING, Nov. 28 (Xinhuanet) -- European leaders should show a credible commitment to stand behind the single-currency system and resolve the ongoing crisis, a prerequisite for China's help, Tony Blair said on Saturday.
"Now is really the last chance for decisive leadership (in Europe). (It's) time for action," said the former British prime minister in an exclusive interview.
"I have no doubt China is prepared to help, but it only helps if Europe gets its act together. There's no Chinese action that can substitute European action," said Blair, who was visiting Beijing to meet with Vice-Premier Wang Qishan to discuss global economics, eurozone debt and the Middle East crisis.
To preserve the euro, he said leaders must show the "whole weight of the European economic system will stand behind the single currency ... whether that can be done through the European Financial Stability Fund, the European Central Bank or can be done in a number of different ways".
Vice premier stresses quality, fair distribution of affordable housing
BEIJING, Nov. 27 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for increased efforts to build and fairly distribute high-quality affordable housing to low-income residents, which he said would benefit both the people's livelihood and the economy.
China's measures to control the property market are at a critical stage, Li said, stressing that the government should stick to its tightening measures over the property market and consolidate the regulative results it has achieved.
China Int'l Environmental Protection Expo opens in Jiangsu
NANJING, Nov. 25 (Xinhua) -- The 2011 China International Environmental Protection Expo opened in east China's Jiangsu Province Friday, attracting more than 240 enterprises from home and abroad.
The most advanced environmental protection technology and products from around the world will be showcased at the expo held in the provincial capital of Nanjing.
China will invest a total of 3 trillion yuan (470 billion U.S.dollars) in its environmental protection industry during the country's 12th Five-Year Plan period (2011-2015).
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| Some say yes the evaluation is "constructive," yet China has its own particular situation that might not be easily evaluat |
Culture of China
Model-turned-celebrities
Most popular Asian actresses in Hollywood
Dramatic changes: early photos of Asian celebrities
China National Costume Design Contest held in Guiyang
(OK .... and some general interest features)
Traditional wedding dresses around world
Dolls on show at exhibition in Paris
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Global Times
UK mass strike shows steep learning curve
Some 2 million people reportedly went on strike across the UK on Wednesday. If this number is correct, it would be one of the largest strikes not only in the UK but also in Western history.
The British ruling class was angered by earlier violent unrest in the summer. Both Parliament and the media condemned the rioters at the time. However, on Wednesday's strike revealed that those strongly worded accusations did not represent the ability to heal social divergences. Its interests and opinions are already polarized.
The UK has been a role model for capitalist states, but its system has appeared incompetent when confronted by an economic downturn, growing social unfairness and unaffordable welfare system. It has lost the momentum it acquired after the Cold War and riches obtained during colonialism. It has to look inward now for solutions to generate new wealth. However, it is the hardest nut to crack.
In the post Cold-War era, the West has reached a peak of protecting its intellectual properties and innovation in its finance sector. These are advanced ways of generating wealth but have led to a severe concentration of fortune. Even in the West, fewer people benefit from this.
With the cheaper manufacturing industry long gone, the well-compensated Western countries have forgotten how to work. They need more exports of their intellectual properties, more innovation in their finance industry, and, especially, new colonies to rescue them. But they all, particularly the UK, no longer possess the power to make these happen.
Taking anger down to the street will not help, neither will changing the government. The Britons need to lower their expectations for the future and accept the fact that their world-class living standards have to decrease gradually.
The US and the rest of the Western world have maintained huge investments in military. They are still discussing how to contain China and export their models to the whole world.
These behaviors are reflections of a persistent belief that armed might and politics are the key to securing their future.
Clinton's misguided preaching on aid
On her way to Myanmar, US Secretary of State Hillary Clinton made a speech urging developing countries to be "smart shoppers" when accepting foreign aid. "Be wary of donors who are more interested in extracting your resources than in building your capacity," warned Clinton. "Some funding might help fill short-term budget gaps, but we've seen time and again that these quick fixes won't produce self-sustaining results."
Media outlets interpreted Clinton's warning as being directed at China. It is a surprise to hear such a statement from the US Secretary of State. These words do not show the confident US we are used to seeing.
China's foreign aid has its flaws, but its goals are at least much simpler than those of the US. US aid often takes the form of arms, and comes with many harsh political warnings. Rarely can its aid bring direct benefit to the welfare of foreign countries. In another word, the US definition of foreign aid comes down to weapons and politics, yet these will bring virtually nothing to a country's "capacity." The US is actually the donor country should be wary of.
On the contrary, China's foreign aid usually targets a country's infrastructure and welfare. It covers everything from basic industries, transportation and agriculture to healthcare, education and other essential sectors. These donations not only bring relief to immediate suffering but also help build-up long-term and sustainable solutions to these. The principle difference between Chinese and US foreign aid is that the Chinese respect a country's free will when it offers its donations, whereas the US' aid may be the carrot which followed by stick. It will not be hard for "smart shoppers" to make a better choice.
Clinton may think her soft-power diplomacy is invincible. But that is no replacement to the practical works and tangible benefits a country has to bring to win over a region. It is also possible that Clinton has no choice since the US has become increasingly incompetent in dealing with its own crisis.
China and India mustn't go for the throat
The scheduled talks between China and India over border issues at the end of November were temporarily postponed. While speculations about this decision are varied, one thing is certain: India, whose GDP is a third of China's, has been maintaining a bold stance when dealing with China. Indian public opinion will not permit concessions to China, but China will not yield to India's demand on border issues either.
This is where the dilemma is. Both sides must keep the border issue from worsening by focusing on keeping goodwill talks alive and being mindful of the consequences of a sudden breakdown.
Currently, India is a bit pushy in its relations with China. The country appears to be highly interested in facing off with China. But that contest is not the primary focus of the Chinese society.
Both China and India have been feeling anxious about being "circled." But their roles are different in each other's eyes. For India, China is the plotter and executor of this "scheme," whereas for China, India is a participant to this theory. The insecurity from both countries is not on the same level.
Nationalistic sentiment is strong in India. It claims that India is on the "first tier" of the world even though the country is still developing. India has been eagerly seeking this acknowledgement worldwide. Although the US has given the country a first tier diplomatic formality, the "elephant" is not satisfied. What it really wants is the first-tier growth rate and statistics that match China's.
However, China rarely thinks of India when it plans its economy. While it is predictable that India will get excited when their GDP growth outpaces China one day, it is hard to say whether China will feel any sadness at this result.
This does not imply that China does not take India seriously. If India can maintain its current economic growth rate, it will only become increasingly important to China.
India will not allow itself to stay quietly between the US and China. It wants to play triangle affairs with the duo, and will do anything it can to maximize its benefit out of it.
Therefore, China will find it hard to buy India over. It needs to treat the South Asia country seriously.
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
CHINA
CCTV 9
News and Current Affairs
Dwelling in the Fuchun Mountains - FEATURE
China exported more than 244 billion USD of goods to the US in the first eight months of 2011. But that’s not all we’re exporting
Over the past three decades, China’s economic reforms have created a significant number of millionaires and billionaires. But the new found wealth has also led to a startling increase in the number of Chinese nationals emigrating to other countries. More and more rich seem to be considering moving abroad, as their wealth has made it easier to obtain citizenship and permanent resident status in other countries.
Watch Video.
China on path of carbon emission reduction
"Tiger Mom" leaves, "Wolf Dad" arrives
Play Video
Just as the “Tiger Mom” controversy started simmering down in China, here comes the "Wolf Daddy." Xiao Baiyou, a self-proclaimed expert on strict parenting, is sparking a new round of fervent discussion on child-raising methodologies among anxious Chinese parents.
He insists he’s the best parent in the world. This past June, Xiao Baiyou published a book on parenting that featured a severe method---spanking.
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See Kaixin's FEATURE: Tiger Mum - Amy Chua 'Battle Hymn of the Tiger Mother'
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
The Wall Street Journal
Did the West Strong-Arm China into Joining Yesterday’s Global Easing Party?
On Wednesday, stocks went up a lot. Here are two reasons: China’s central banks lowered lenders’ reserve requirement ratio, and six of the world’s central banks said they would provide extra liquidity to global financial markets.
Were the two linked?
China's Central Bank Calls Property Market 'Turning Point'
SHANGHAI—China's central bank acknowledged Friday for the first time that the country's housing prices have reached a turning point, following a decline in property investment, land transaction volumes and prices.
China Taunting U.S. With Myanmar Sanctions Call?
Beijing drew a diplomatic line in the sand on Thursday between it and Washington in what appears to be a growing contest for the allegiance of Myanmar, China’s poor but strategically important neighbor.
China's Bind: How to Avoid a Crash Landing
ORDOS, China—For a sense of the sharp policy shift China's leaders have to orchestrate to avoid the world's second-largest economy landing with a hard thud, look no further than this Inner Mongolia desert town, where construction cranes have come to an abrupt standstill.
S&P Sees a Shift in Banking
Ratings Service Says Asia Banks Have Become Stronger Than Those in the West
HONG KONG—Standard & Poor's Ratings Service said its downgrade of six of the biggest U.S. financial institutions and upgrade of two Chinese banks captures what it believes is a fundamental shift in the global banking landscape in favor of Asia.
Economists React: China Reserve Ratio Cut as Manufacturing Slows
China’s central bank cuts its bank reserve ratios for the first time since 2008 on Wednesday night, signaling a decisive shift in focus toward growth and away from inflation. On Thursday, China’s official Purchasing Managers Index showed a contraction in manufacturing activity for the first time since 2009. Analysts weigh in:
China Favors Direct Investment to Create ‘New Blood’ in Europe
China is more interested in investing directly in Europe than buying European Union debt with its colossal foreign currency reserves, a senior civil servant said Tuesday.
Singapore-On-Yangtze to Come to Chongqing
For decades, governments around the world have looked to Singapore for tips on how to make their cities function better and appear easier on the eye. Now the prosperous southeast Asian city-state is replicating a part of itself on the banks of the muddy Yangtze and Jialing rivers in China.
Pictures: China’s Massive Civil Service Exams
China’s Civil Service exam started Sunday. This year, roughly 1 million people turned out to compete for around 18,000 highly coveted jobs in the country’s public service sector.
China to Raise Poverty Threshold
BEIJING—The number of rural residents in China recognized as poor is set to quadruple thanks to a planned adjustment in the country's oft-maligned definition of poverty, though the number will still likely fall short of independent estimates.
China Pushes to Buck Up Yuan Market
Deposit Growth Slows in Hong Kong; Currency Is No Longer Seen as a Sure Bet for Gains
BEIJING—China is taking steps to nurture growth of the fledgling market for its currency outside its borders, in an apparent effort to restore its momentum amid a slowdown in world trade.
Hormats Challenges ‘Distorted’ Advantages for China’s State Firms
U.S. Undersecretary of State Robert Hormats has been causing a stir in China by arguing that what he calls the principle of “competitive neutrality,” should govern relations between privately held firms from the U.S. and state-owned firms in China and elsewhere
That has been taken by some in China as the U.S. trying to rein in the “Chinese model” of commerce.
China: Looking to Boost Imports From U.S.
BEIJING—China hopes to further boost its imports from the U.S. next year—as long as the U.S. provides a fair and free environment for trade and investment, Chinese Commerce Minister Chen Deming said Monday.
Asia Today: As Chinese Stocks Slump, Analysts Say Buy - VIDEO
Chinese stocks are down this year, but investment-bank analysts are sticking to their "buy" recommendations. Kate O'Keeffe joins Asia Today to explain.
Seldom Heard on China: 'Sell'
HONG KONG—Investors have soured on many Chinese companies on fears of a slowing economy and worries about accounting fraud and corporate governance. But for analysts at investment firms, the stocks remain a hot ticket.
Latest Property Move by Beijing Might Signal Concern
SHANGHAI—Beijing's city government has relaxed one local limit on real-estate sales in a subtle move that analysts said could signal official concern that China's broader efforts to cool the property market could be hurting parts of the economy.
Beijing to Keep Tight Grip on Property Sector
BEIJING—China will maintain its tightening measures in property sectors next year and continue its efforts to construct affordable housing, state-run media reported Sunday, citing Vice Premier Li Keqiang.
J.P. Morgan's China Go-Ahead
Firm Is Said to Receive Permission to Set Up RMB, or Yuan-Denominated, Fund
HONG KONG—J.P. Morgan Asset Management, an arm of U.S. bank J.P. Morgan Chase & Co., received permission from the Beijing city government to create a $1 billion RMB fund under the new Qualified Foreign Limited Partner program, people familiar with the matter said, allowing the U.S. firm to become the biggest foreign manager of a yuan-denominated fund to date.
China's Luxury Market is No Bed of Roses
Glossy photos of Chinese consumers weighed down by shopping bags litter the financial reports of global luxury companies these days. For an antidote to the bullishness, the listing prospectus of Hong Kong jeweler Chow Tai Fook offers a summary of the China risks.
See Kaixin's - Status Symbols in China
China Bans Ads in TV Dramas
BEIJING—China's regulators will ban advertising during television dramas, dealing a blow to marketers who have ramped up ad spending to reach the nation's growing consumer class.
Watch: Yao Ming Explains Why He’s Getting Into Wine - VIDEO
Chinese NBA star Yao Ming is launching his own California winery as China's thirst for wine intensifies. The former basketball pro speaks to The Wall Street Journal's Jason Chow.
China’s Newest Car Brand: Qoros
As brands mushroom in China’s slowing auto market, worries of a shake-out are mounting. Yet, despite the fear, more auto brands are being launched in China, and existing global brands are piling in to grab a piece of the world’s biggest auto market.
The latest addition: a new brand called Qoros launched officially Monday by investment firm Israel Corp. and China’s Chery Automobile Co.
Children of the Revolution
China's 'princelings,' the offspring of the communist party elite, are embracing the trappings of wealth and privilege—raising uncomfortable questions for their elders.
The offspring of party leaders, often called "princelings," are becoming more conspicuous, through both their expanding business interests and their evident appetite for luxury, at a time when public anger is rising over reports of official corruption and abuse of power.
Picture: Bo Xilai, with his son, at a memorial ceremony held for his father in Beijing, in 2007.
Kaixin OpEd: Yes, this is an issue in China. Though the bad old days of slotting a sprog into the top echelon of government is mostly gone. The princelings can be given a mighty leg up by dad, but if they turn out to be a frog, then they will stay in the pond. It takes real talent to rise to the top in China today ........... mostly, and with little twists and turns, but largely.
Mind you, in the 'west', having a rich and/or powerful dad is not without its benefits.
Hormats Challenges ‘Distorted’ Advantages for China’s State Firms
U.S. Undersecretary of State Robert Hormats has been causing a stir in China by arguing that what he calls the principle of “competitive neutrality,” should govern relations between privately held firms from the U.S. and state-owned firms in China and elsewhere
Convertible Yuan Bond Fund Targets Aussie Property
Asian investors will soon be able to buy a yuan-denominated convertible bond targeted at Australia’s commercial and residential property sector.
China, As It Was
In Yunnan province, you can experience ancient traditions like cormorant fishing in a landscape of mountains and mist
As they were rowed out into the dark, churning waters of Erhai Lake, 10 cormorants with black plumage and white crests sat calmly in the bow of the boat.
See Also Kaixin's - Guilin, Guangxi Zhuang autonomous region
China Tests Buddha-Tooth Diplomacy in Myanmar
When China wants another country to feel all warm and fuzzy, it sends a panda. But Myanmar gets something special: A sacred Buddha tooth.
Reuters
Paintings From Australia’s Desert Make Waves in China
An exhibition of Aboriginal art on tour in China is the biggest the country has ever seen and drawing record crowds, but it hails from one of the most remote communities in Australia.
Photos: Guangzhou Auto Show Kicks Off
Amy Tan Q&A: China Then and Now, and How to Bridge the Gap
Novelist Amy Tan has spent most of her life examining the divide between China and America through novels that examine the emotional minefields of families and the clashes that come from cultural misunderstandings.
Photos: Liu Bolin, Vanishing Artist
See Kaixin's FEATURE on Liu Bolin with plenty of Photos
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
The New York Times
A River's Gifts
By SHENG KEYI
When I was younger I was ashamed to admit I came from a remote village, yet I lacked the courage to claim I was from a city, so I usually said simply that I came from an outlying township. Now I must tell the truth, that I was born in an isolated village.
Green Card Backlog May Ease for Some From China and India
The House passed a bill that tweaks the visa system to allow more highly skilled immigrants from China and India to become legal permanent residents.
Myanmar: A Welcome From China
Vice President Xi Jinping of China welcomed the leader of Myanmar’s military in a ceremony in Beijing and called for closer military ties between the countries.
Inflation Fears Easing, China’s Central Bank Turns to Lifting Growth
Commercial banks will be allowed to keep a slightly lower percentage of their deposits at the Chinese central bank as reserves.
China: Ads Banned in Middle of TV Dramas
Chinese officials announced Monday that the government would impose a ban on advertisements in the middle of television dramas starting Jan. 1.
Chinese Exports Show Trouble for Asian Economies
Asian nations like Japan and South Korea are a crucial part of China’s supply chain, but they are increasingly dependent on Chinese export demand.
China Looking Into U.S. Policies in Renewable Energy Trade
The nation’s commerce ministry opened an investigation on whether American subsidies in the solar, wind and hydroelectric sectors had hurt development of those industries in China.
Chinese Factory Index's Decline Sends Asian Stocks Lower
The HSBC November purchasing managers’ index fell to its lowest level since March 2009, highlighting how the woes in Europe and the United States are taking their toll on the Chinese economy.
The Tussle Between Energy and Ecology Moves to the Australian Outback
An owner of protected wild lands in Australia is fighting plans for a giant coal mine supplying China.
China Outlines Cuts in Carbon Emissions
With global climate talks set to begin next week, China on Tuesday issued the most comprehensive document yet on its plans and negotiating positions on emissions.
A Deeper Look at China, Coal and CO2
Digging deep on the growing flows of coal to China and other emerging industrial centers in Asia.
Chinese Factory Index's Decline Sends Asian Stocks Lower
The HSBC November purchasing managers’ index fell to its lowest level since March 2009, highlighting how the woes in Europe and the United States are taking their toll on the Chinese economy.
China Outlines Cuts in Carbon Emissions
With global climate talks set to begin next week, China on Tuesday issued the most comprehensive document yet on its plans and negotiating positions on emissions.
Republicans and Obama Can Agree on Criticizing China’s Trade Practices
Republican contenders talk tough about China, and President Obama is already getting tough on it.
Eyeing China, U.S. Expands Military Ties to Australia
CANBERRA, Australia — President Obama and Prime Minister Julia Gillard of Australia announced plans on Wednesday for a sustained new American military presence in Australia, a deployment of 2,500 troops aimed at signaling that the United States intends to counterbalance a rising China.
ABC News (Australian Broadcasting Commission)
No better friend - VIDEO
Nick Dole looks back over the 'special relationship' between Australia and the US.
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Asia Times Online
A SINO-US PARADIGM SHIFT
Hardened features of a soft war
At the East Asia summit in Bali, US President Barack Obama looked cool and in control, while Chinese Premier Wen Jiabao looked anything but. This was a reversal of similar engagements in the past, as at this moment Beijing faces unprecedented political challenges at home and in the region, where Washington is poised to retake a starring role – perhaps even in a confrontation between the Communist Party and the Chinese people themselves. - Francesco Sisci
Obama takes early aim at China for 2012
Barack Obama's Asian tour this month re-affirmed the United States "return" to the region just as his Republican rivals were ramping up their anti-Chinese rhetoric. However, rather than forward constructive Sino-US dialogue, Obama's moves to form a security bloc and demands Beijing revalue its currency suggest he too is more focused on the 2012 US presidential vote.
- Kent Ewing
SUN WUKONG
China's navy delivers Thanksgiving spoiler
Chinese naval exercises in the Western Pacific did more than give United States counterparts something to think about over the Thanksgiving holiday. The latest maneuvers underline Beijing's growing ability to extend naval power beyond the immediate confines of the Chinese coastline even while already operating against pirates in the Indian Ocean.
MYANMAR IN THE MIDDLE
China-Myanmar: border war dilemma
By Bertil Lintner
This is the final article in a four-part series.
Part 1: China embrace too strong for Naypyidaw
Part 2: India-Myanmar: a half-built gateway
Part 3: US engagement as nuclear pre-emption
NONGDAO, China-Myanmar border - While many foreign observers have enthused about recent, seemingly liberal developments in Myanmar, it is an entirely different on-the-ground reality in the country's border areas, where fighting between the Myanmar Army and ethnic rebels has flared anew.
America pivots toward ASEAN
By Donald K Emmerson
KAMPIAL, Indonesia - To the sounds of a gamelan orchestra, white-dressed Balinese pay ritual homage to Saraswati, the Hindu goddess of knowledge and learning. The timing is apt as over a thousand journalists and others try to divine the significance of a week of high-level diplomacy held on the island, including the 6th East Asia Summit (EAS), the 19th Association of Southeast Asian Nations (ASEAN) summit, and other ASEAN-linked events.
Taiwan's Ma fails to stir panic on rising rival Tsai
By Jens Kastner
Taiwanese President Ma Ying-jeou, faced with losing January's presidential election to Tsai Ing-wen, warns that such an outcome could ruin the island's economy. His claims, even if overstated, have some substance, yet the anti-unification Tsai could be the voters' best bet as global recession threatens. - Jens Kastner
Proposed sale of Taiwan raises no laughs
A satirical op-ed advising United States President Barack Obama to abandon military support for Taiwan in exchange for China forgiving US$1.14 trillion of American debt appears to have roots in reality. While the island is conspicuously absent from the US's "return to Asia" plans, US liberal circles have touted the same idea to boost Obama's re-election campaign.
- Jens Kastner
SPENGLER
It might not be an
Asian century after all
Demographics, resistance to democracy and complacency about its visible success all risk taking the steam out of China's rising trajectory. If Beijing erroneously concludes from the United States's financial crash that a command economy is in its interests, and regards America as an enemy rather than as an unthreatening rival, it will decline. The greatest challenge is not American strength but American weakness.
BOOK REVIEW
US-China power imbalance threatens Asia
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
Reviewed by Benjamin A Shobert
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
While arguing that a stark evaluation of Beijing's military strategy proves the United States has been overly optimistic in believing economic engagement would foster democracy, this book makes no alarmist predictions of China pursuing global hegemony. However, to alter deep-seated patterns of power politics drawing the countries toward conflict, the US needs to rebalance its China relationship by urgently addressing its own economic and political dysfunctions.
INTERVIEW
Eagle and dragon lock claws in mid-flight
Benjamin A Shobert talks to Aaron L Friedberg, the author of A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia
America's focus on the emerging challenge posed by China was first distracted by the "war on terror" and then the 2008 financial crisis, says author Aaron L Friedberg. In the meantime, Beijing advanced economically, developed asymmetric capabilities and grew assertive. China may not want to conquer Asia. However, it could extend a preponderant political influence over the region with dire consequences for the US.
THE ROVING EYE
An extreme traveler, Pepe's nose for news has taken him to all parts of the Pepe Escobar globe. He was in Afghanistan and interviewed the military leader of the anti-Taliban Northern Alliance, Ahmad Shah Masoud, a couple of weeks before his assassination
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Caixin Online
- China Raises Electricity Prices
- The NDRC, China's top economic planning body, said price increases for retail and on-grid electricity prices will not extend to the majority of household power consumption
- 12.01.2011
- With Higher Poverty Line, Antipoverty Funds Reconfigured
- A new poverty threshold has raised the number of impoverished to 120 million people, and officials are now addressing how exactly they will fund and increase antipoverty subsidies in tandem
PBOC Cuts Bank Reserve Requirements
China's central bank announced the lowering of reserve requirements for commercial lenders for the first time in three years
(Beijing) -- China's central bank has cut bank reserve requirements for the first time in nearly three years, with many market analysts interpreting the move as a sign of monetary easing after three years of cautious tightening.
Former Central Banker: China Under No Obligation to Rescue Ailing Economies
Wu Xiaoling, former People's Bank of China official, said China should look to rebalancing the domestic economy as a means to aid the global economy
(Wuxi) – China is neither obligated nor capable of saving the world from another financial crisis, said Wu Xiaoling, former deputy governor of China's central bank and current vice chairperson of the Finance and Economics Committee of the National People's Congress.
ICBC's Jiang Likes Big Banks for Small Clients
The chairman of China's largest bank ICBC tells Caixin why the small business market is getting even more important
Small business shutdowns blamed on a lack of reliable credit brought Chinese Premier Wen Jiabao to the commercial city of Wenzhou recently, and later prompted a State Council call for more bank support
- China Lifts Punitive Reserve Requirement on Rural Cooperative Banks
- Central Bank: Broadened M2 Reflects Abundant Money Supply
- China's central bank says it will continue to implement monetary policies due to abundant money supplies and persistent high inflation
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- Reviving loose monetary policy would reward speculators and redundant property developers while stoking inflation
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- Failure for Beijing's Independent Candidate By Tom Hancock
- The local government decided the result of a village election, an independent candidate says
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- Podcast: Slum Clearance By Tom Hancock
- In Harbin, a cash-strapped city government claims ordinary housing districts are "slums", so they can be demolished to raise funds for social housing.
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- Podcast Special: China's Missing Children By Tom Hancock
- Parents of children abducted by officials in a rural Chinese county continue to defend their rights, with little hope of success.
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- The Interceptor Producer and Host: Friederike Böge
- Local governments in China are spending a substantial amount of their resources on stopping petitioners from going to Beijing. A new documentary film explains why
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- Podcast Special: Power To The People? By Tom Hancock
- Protests over a chemical plant in Dalian, and a murder case in Yunnan.In China, how powerful is public opinion?
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- Podcast Special: Inflation, China's biggest headache? By Tom Hancock
- Inflation is at a three year high, even after months of financial tightening. Can China afford more price increases?
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- Podcast Special: Alipayed off By Tom Hancock
- Alibaba and Yahoo finally reach a deal to share profits from Alipay, but is Jack Ma the real winner?
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- Caixin News Podcast July 28 By Tom Hancock
- Train crash and rail finance; Synohydro listing; SME tax breaks;housing market controls; China stocks
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- Podcast Special: Wenzhou train crash update By Tom Hancock
- Caixin reporters recorded close to the scene of the train crash which killed at least 36 people.
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- Caixin News Podcast July 15 By Tom Hancock
- GDP growth; economic rebalancing; inflation rise; officials ranked by debt; high-speed rail breakdowns; China stocks
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- Caixin News Podcast July 7 By Tom Hancock
- Interest rate increase; banking worries; Mongolian coal bid; Manufacturing growth slows; Oil spill; China stocks
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- Podcast Special: China's Debt Problem By Tom Hancock
- China's local government debt amounts to more than 10 trillion RMB, how serious are the risks?
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- Caixin News Podcast July 1 By Tom Hancock
- Local government debt; Wen Jiabao in Europe; new income tax threshold; adoption petitioners arrested; Siemens bribery case; China stocks
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- Podcast Special: Riot in Jeanstown By Tom Hancock
- Migrant workers riot in southern China, Caixin's reporter visits the scene
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- China's Hot Money Outflow
- Tim Condon, chief economist, head of research, Asia, ING financial markets, discusses how China's hot money outflow has caused the Chinese government to consider cutting the reserve requirement ration (RRR).
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- Analysis: Increasing U.S.-China Friction
- Mark Matthews, Head of Research Asia at Bank Julius Baer talks about why the US-China rhetoric is getting so heated.
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- Lieberthal on U.S. Presidential Campaign and China
- Kenneth Lieberthal, director of the John L. Thornton China Center at the Brookings Institution, spoke to Caixin about the foreign policy stances of U.S. presidential candidates and how China will factor into the 2012 election.
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- Marriott's Grand China Ambitions
- Simon Cooper, President and Managing Director, Asia-Pacific of Marriott International discusses the hotel chain's expansion plans in the mainland
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- Will China Bail Out Europe?
- Shaun Rein, managing director of China Market Research Group, says China is more likely to keep its war chest for itself than to offer it to Europe.
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- China to Maintain Property Curbs
- Martin Lamb, director of Asia Pacific Real Estate Investments at Russell Investments, talks about the Chinese State Council's decision to press on with property tightenign for the rest of 2011.He adds that property investors should look to tier-2 Chinese cities, because speculative activity is lower than in tier-1 cities.
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- High Labor Costs in China
- Shaun Rein, managing director of China Market Research Group, says Chinese companies are operating on razor thin margins and are getting hurt because of rising labor costs in China.
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- S&P Expects a Soft Landing in China
- Lorraine Tan, VP, Standard & Poor's Equity Research says China's domestic strength remains despite weakness in the external sector, and so expects more of a soft landing.
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- No Surprises in China GDP Data
- Mark Matthews, head of research Asia, Bank Julius Baer, discusses China GDP data and what it means for the economy
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- Investing into Chinese Consumer Space
- Vineet Sharma, head of consumer, Asia Ex-Japan Equity Research at Barclays Capital, advises to stick to market leaders in Chinese consumer sector.
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- Chinese Developers to Face Liquidity Risk
- Bei Fu, Director of Corporate Ratings at Standard & Poors, thinks that chinese developers will face liquidity risk because of uncertain sales prospects and questionable funding access.
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- Slowdown in China Not A Big Worry
- Donna Kwok, Greater China Economist at HSBC, thinks that the slowdown in China is government induced, and its debt is not a big worry because the government is capable of paying it.
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- Upbeat on China & India
- Andrew Pease, Investment Strategist at Russell Investment Group, says China and India are standout markets in Asia, in terms of value.
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- Dim Sum Bonds Look Appetizing
- Zhang Zhi Ming, Head of China Research at HSBC, says the recent correction in dim sum bonds offers a good entry point for investors
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- Dozens Protest Kunming Real Estate Company
- Dozens of protestors gathered outside the sales office of a Kunming real estate developer to protest its launch event. The demonstrators claimed that the developer, named Kunbai, was not honoring the terms of a recently-signed contract that gave customers the option to purchase property at certain discounted prices. Carrying large blue and white banners, the protestors blocked the entrance to the developer’s sales office, delaying the start of the event A scuffle with security officers ensued, before the officers locked the protesters out of the sales office altogether.
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- Vigil Held for School Bus Crash Victims
- One day after a nine-seater van full of 62 kindergartners crashed in Gansu Province--killing 19 children and both adults on board--local residents gathered for a candlelight vigil to mourn the victims. The accident has brought attention to the issue of school bus overcrowding and a general lack of school transportation oversight in China. Many children ride to school in unsafe conditions, varying from packed busses to overcrowded vans to open-bed trucks. Often those affected are China’s so-called "left behind" children, whose parents have left for work as migrant laborers in other cities. Chinese government officials have pledged to invest more money and to provide more oversight to combat the issue.
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- Ten Killed in Hunan House Collapse
- A house collapse in China’s Hunan Province left ten dead and twelve injured on November 14. The victims were gathering to prepare for the funeral of the homeowner’s deceased uncle, when the house collapsed on top of them. An investigation is currently underway to identify the cause of the collapse.
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- Deadly Explosion Rips Through Xi'an Restaurant
- A massive explosion at a fast food restaurant killed seven people and injured another 31 in the early morning hours of November 14, according to state media outlets. The explosion occurred around 7:30 a.m. during the morning rush hour in Xi'an, the capital of northwestern Shaanxi province. The victims were pedestrians walking by or waiting for a bus near the restaurant, and many were children. A Xi'an fire prevention bureau spokesman told Xinhua News Agency reporters that the explosion was an accident, caused by a liquid natural gas leak. State media also reported that the blast blew broken window shards as far as two to three kilometers from the site. Officials sealed off the area to guard against any more potential explosions or casualties.
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- Ruins of Illegal Real Estate in Fuzhou
- After a new road opened outside Fuzhou in southern Fujian Province, many passers-by noticed a strange sight: massive heaps of rubble covering the surrounding farmland. According to local residents in the nearby Wufeng Village, the rubble is from an illegal real estate development that the local Bureau of Land and Resources shut down and demolished in 2008. But in the three years since, there has been no effort to clean up the 20 acres of rubble that remain. When asked by a local reporter, officials from the administrative district responsible for the area said a lack of funds, as well as personnel changes, had delayed the cleanup. The officials promised that the rubble would be cleaned up, and that they would station guards around the rubble to prevent people from entering dangerous areas.
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- Changsha Cattle Graze on Garbage
- On November 6, reporters made a disturbing discovery at a landfill on the outskirts of Changsha, the capital of Hunan Province: more than a dozen cows grazing on rotten garbage. An expert quoted in the local media said that mold and heavy metals present in the Heimifeng landfill could render beef from the cows toxic to humans, and that local law prohibits livestock grazing at garbage dumps. But according to workers at the landfill, cattle from a nearby village are often allowed to graze on trash there. Ever-expanding landfills have become increasingly problematic in some parts of China, as they grow to encroach on cities and farmland. The Heimifeng site first opened in 2002 as the largest of its kind at that time, in China. According to an article in the state-run People's Daily, the site is outfitted to be environmentally-friendly, by trapping gas emissions given off by garbage and recycling it for heating, power generation and irrigation.
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- Officials Begin Destroying Millions of Fake Goods
- On November 6, officials began destroying 25 million counterfeit products seized over the past year from 182 major cities across China. The seized items covered the full spectrum of anything that could be copied: agricultural products like pesticides and seeds, industrial materials, designer brand clothing, food, drugs, books and CDs. Since November 2010, Chinese authorities have closed down over 22,000 counterfeiting operations and broken over 6,700 counterfeiting rings. In total, officials have seized over 18 million yuan in fake goods, according to the state news agency Xinhua.
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- "Villages in Cities" Torn Down for Affordable Units
- Earlier this year, the Ministry of Housing and Urban-Rural Development announced plans to build 10 million units of affordable housing in 2011, as part of a larger commitment to construct 36 million low-cost homes in the next five years. By the year’s end, reconstruction of sub-standard housing in cities (also known as “villages within cities”) as well as properties in state-owned industrial, mining, forestry and reclamation areas will yield four million new units. The slum reconstruction project commands a 500 billion yuan pricetag, 40 billion of which will come from the central government. The effort has come under scrutiny, however, because some local governments have also turned to tearing down and reconstructing regular housing in high-value locations, for the sake of raising funds. Some residents in Harbin's 18-year-old Youlian community, for example, have questioned why the government is tearing down their reliable homes, in the name of upgrading slums.
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- Photography Feature – The City Flows
- In the instant of a moment, the city changes. Beijing-based photographer Mo Yi has traversed the landscape of China's new urbanism by documenting both the integration and estrangement of its residents. Mo Yi's photography goes beyond capturing the expressions of urbanites, often tinged within difference in moments of movement, but also the experience of the city coded in black and white tonal contrasts. Photos Courtesy of Three Shadows Photography Art Centre
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- Shenzhou-8 Spacecraft Blasts Off
- In the early morning of November 1, China's unmanned Shenzhou-8 spacecraft blasted off from the Jiaquan Satellite Launch Center, which is based in the desert of Inner Mongolia. Soon after the launch, the commander-in-chief of China's manned space program declared it a success. Propelled by an upgraded Long March-2F rocket, the Shenzhou-8 reached its designated orbit as planned. Up next for the Shenzhou-8 is a rendezvous with the Tiangong-1 space module for a trial run at China's first in-orbit space docking. If the docking proceeds successfully, it will show that China's space program is capable of difficult in-orbit docking maneuvers, and enable Chinese scientists to proceed with plans to launch and dock the Shenzhou-9 and -10 spacecrafts in 2012 and finish a permanent space station around 2020. A spokesperson for the manned space program announced on October 31 that at least one of the 2012 missions will be manned, sending Chinese astronauts back into space for the first time since 2008.
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- Heavy "Fog" Cancels Beijing Flights
- A thick haze rolled into most of northeast China on October 30, lowering visibility and cancelling or delaying more than 150 flights out of Beijing Capital Airport. While state media quoted China's top environmental ministers as saying the air was “slightly polluted” that day, the U.S. embassy in Beijing went to the other extreme and posted issued its two highest air-quality warnings ("very unhealthy" and “hazardous”) via Twitter . Additionally, a local environment bureau advised citizens to stay indoors, if possible. The discrepancy in air quality readings and the state media’s use of the word “fog” to describe high levels of pollution led many to question just how polluted China really is. In response to the public outcry, an editorial in the state-affiliated Global Times on October 31 said that both local governments and the media must stick to accurate reporting when it comes to discussing fog and air pollution. "Local governments need to establish absolute authority over monitoring pollution without concealing information," the editorial said.
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- Seven Dead in Henan Coal Mine Blast
- A coal mine explosion in Henan Province has left seven miners dead, with 11 still missing. The accident occurred in the early morning hours of October 27, when a sudden and explosive pressurized gas leak sent an estimated 1,500 tons of coal flying, effectively blocking the mine shaft and delaying rescue efforts. Run by the state-owned Henan Coal Chemical Industry Group Co Ltd., the mine is located in the city of Jiaozuo. The accident comes almost a week after China's top official in charge of coal mine safety announced that coal mine deaths are down this year, with 27 percent fewer fatalities through the first nine months of 2011, compared to the same period in 2010.
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- Shanghai Homeowners Protest Price Cuts
- On October 23, about 300 early buyers of homes in a Shanghai real estate development gathered to protest at the developer’s office, following news that the company had dropped prices in the development by 6,000 yuan per square meter. After hearing that the company, China Overseas Property Group Co., would not cancel or refund contracts, the buyers scuffled with security personnel, causing minor damage to company property in the office. This latest markdown in real estate value is part of a general trend over the last few weeks, which has caused similar homeowner protests across Shanghai. Real estate prices in some parts of Beijing have also declined, and the government has hinted through its official news agency that further price drops may be necessary to curb China’s real estate bubble.
China Lifts Punitive Reserve Requirement on Rural Cooperative Banks
Regulators May Be Loosening Monetary Strings
Credit restrictions continue to confound banks, but the days of tight monetary policy may be numbered in China
China's tight-minded policymakers have taken what appear to be the first, cautious steps away toward a more relaxed monetary course.
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