2nd of August 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
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People's Daily
U.S. a 'parasite' on global finance: Putin
Russian Prime Minister Vladimir Putin accused the United States on Monday of living beyond its means “like a parasite” on the global economy and said US dollar dominance was a threat to global finance.
“They are living beyond their means and shifting a part of the weight of their problems to the world economy,” Putin told the pro-Kremlin youth group Nashi while touring the lakeside summer camp about five hours drive north of Moscow.
“They are living like parasites off the global economy and their monopoly of the dollar,” Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls.
Power runs short in South China
The Guangxi Zhuang autonomous region is seeing its most serious electricity shortage in the past two decades, leaving nearly 30 percent of the region's demand for electricity unmet, local power authorities say.
See Kaixin's - Green China
China to sell three-year bonds for local governments
China's Ministry of Finance (MOF) will start selling 22.66 billion yuan (3.52 billion U.S. dollars) in three-year bonds for local governments at a yield of 4.07 percent on Tuesday.
See Kaixin's - Economic China
China Mobile cuts international roaming fees
China Mobile Ltd cut international roaming fees charged for 38 countries and regions by as much as 80 percent on Monday in the hope of maintaining high-end users' loyalty amid the increasingly intense domestic competition.
The carrier, which had 616.8 million mobile subscribers by June, said in a company announcement that it cut the roaming charges in countries and regions including Australia, Germany, Canada and Singapore - popular destinations for Chinese travelers.
China Mobile clients in Singapore will now pay 0.99 yuan (15 cents) a minute to call the Chinese mainland, a 75 percent decrease from the previous 3.99 yuan a minute. Data traffic fees in Canada were cut by 80 percent to 0.01 yuan a kilobyte.
The reductions are China Mobile's fourth price adjustment since 2010. The company said it was able to negotiate less expensive roaming deals for its users with international operators because of the increasing number of Chinese going abroad.
Overseas market needs five million Chinese teachers
As is shown by statistics, the number of people who are learning Chinese in major countries worldwide in recent years has grown by about 50 percent annually. Chinese has become the fastest-growing language in terms of number of learners. By the end of 2010, the number of overseas Chinese learners has risen to 100 million. Some experts predicted that the number will reach 150 million at the end of 2013.
See Kaixin's - Introduction to Chinese
Economic engine should be roaring along safe rail
By Li Hongmei
To many Chinese, having the world's fastest trains running on the world's longest high-speed rail is a pronounced symbol of China's modernization and its galloping economy.
But the bullet-train crash which happened Saturday plunges the whole nation into a chilly nightmare in which at least 43 people killed when a stalled train was struck from behind by another train, and the Chinese, still intoxicated by the pride of running fastest, have to wake up to a harsh reality - how to run safely?
Governments' net for outlaws
By Li Hong
The Canadian authorities under the leadership of Prime Minister Stephen Harper over the weekend deported the most-wanted Chinese fugitive -- smuggling ringleader Lai Changxing back to China. The repatriation has beamed up tens of millions of ordinary Chinese people,
who hate corruption and economic fraudulence most.
The revered former Chinese Premier Zhu Rongji, prior to his retirement in 2003, vowed to take whatever measures to bring Lai back and face justice in China. Now his wish is fulfilled.
China Daily
Weak dollar may lift China inflation
BEIJING - Though there appears to be a light at the end of the US debt crisis tunnel, the agreement reached over the weekend in Washington won't remove concerns over a weaker dollar, which will push up commodity prices and increase imported inflation in China over the long term, analysts said.
China's foreign reserves dilemma
BEIJING / WASHINGTON - The agreement reached by US lawmakers to raise the debt ceiling may have eased investor concern, but China, the largest foreign holder of US debt, is still faced with the challenge of diversifying a massive foreign exchange portfolio endangered by a weakening dollar, economists said on Monday.
Mexican energy and electronics industries seek Chinese capital
BEIJING - Mexico is trying to diversify its energy mix and exploit the potential of renewable energy sources, which means new opportunities for Chinese companies, said Carlos Guzman, the head of investment promotion authority ProMexico.
"Mexico has great potential for solar and wind power ... we have some domestic manufacturers, but there are opportunities for Chinese companies," Guzman said in an exclusive interview with China Daily.
Space race too costly for car owners
Homebuyers across China are learning the hard facts of supply and demand: too many cars and too few parking spaces.
The price for a parking space has hit a record 400,000 yuan ($61,963) in Xi'an, where the average price of a new home is 5,398 yuan per square meter. Even the average price of a parking space in Xi'an, 170,000 yuan, is 31 times greater than the average square-meter price for residences, by far the biggest differential of seven cities surveyed.
Micro blogs find their time is now
"Our train bumped into something.Our carriage has fallen onto its side. Children are screaming . . . Come to help us please! Come fast!"
The words tweeted by a passenger on high-speed train D301 on July 23 were clearly a cry for help. But they also initiated a wave of unprecedented "citizen journalism" on China's Twitter-like micro blogs.
A university sophomore writing under the name Yangjuan Quanyang posted the message on Sina Weibo at 8:47 pm. The train she was on had just crashed into bullet train D3115 outside Wenzhou. Of her fellow passengers, 40 were killed and 190 injured. She survived.
In 10 hours, Yangjuan's plea was reposted 100,000 times. In the following week, there were 10 million messages about the crash on Sina Weibo and 20 million on QQ Weibo, the other major Chinese micro blog.
"Everyone could have been there on the train," bloggers said tens of thousands of times.
In the aftermath of the crash in East China's Zhejiang province, China's more than 20 million micro-bloggers demonstrated unfamiliar power: They broke the news, joined the rescue work, helped survivors and families of victims, and monitored the authorities who were investigating the accident.
Comments were highly emotional early on, and rumors abounded. But then some observers who communicate through micro blogs took on the mantle of the fourth estate and its tenet of monitoring the holders of power.
In this way, sociologists say, micro blogs provide a platform for Chinese to develop a mature citizenship, which is a prerequisite for China to steer toward a civil society.
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XinHua News
Gov't moves to create favorable policies for home service sector
JINAN, Aug. 1 (Xinhua) -- The government is creating new national standards and favorable policies to boost the development of the country's fledgling home service businesses in order to better serve China's aging population and boost the employment of transient rural workers.
The promotional policies are aimed at doubling the number of people employed in the home service sector. The industry currently employs some 15 million people, most of whom are migrants who have left their rural homes to find jobs in the country's cities.
China to boost military development under new "strategic thinking" model
BEIJING, Aug. 1 (Xinhua) -- The official website of China's Ministry of National Defense (www.mod.gov.cn) went into full operation on Monday, marking the 84th anniversary of the founding of the People's Liberation Army (PLA) after two years of trial operation.
A statement from the ministry hailed the move as "a significant step in promoting transparency" and "an important move in the modernization of China's national defense and armed forces."
China to enhance modernization of military forces: defense minister
BEIJING, July 31 (Xinhua) -- China will steadily reform national defense and the army and constantly modernize the military forces, said China's Minister of National Defense.
Defense minister Liang Guanglie made the remarks at a reception here Sunday celebrating the 84th founding anniversary of the People's Liberation Army (PLA).
August 1 every year is China's Army Day.
Global Times
Crash victim families accept new deal
Nineteen of 31 families bereaved by a deadly bullet train crash in Zhejiang Province have accepted compensation of 915,000 yuan ($143,000) per deceased family member as of on Sunday.
The compensatory payment was adjusted Friday from the original offer of 500,000 yuan ($77,399).
Jiang Zheng, brother of victim Jiang Zhengtong, told the Global Times on Sunday that he has accepted the compensation.
"I signed the deal on Sunday… I hope to end the matter as soon as possible, leaving my brother in a peaceful world," he said.
Despite the raise in compensation, the relatives of victims from 16 families still refused to accept the offer, demanding higher compensation or the results of an investigation before any deal was struck.
'We will punish those responsible'
Initial investigations into Saturday's train crash in Zhejiang Province found that signal failure and human error were the likely causes, authorities said on Thursday, on the same day that Premier Wen Jiabao promised the probe result would "stand the test of history."
"The signal system at Wenzhou South Railway Station has serious design flaws. After being hit by lightning, it failed to turn one of its lights from green to red, which then failed to prevent the collision," An Lusheng, head of the Shanghai Railway Bureau, said at an investigation meeting held by the State Council in Wenzhou on Thursday.
China confirms first aircraft carrier
China announced it is refitting its first aircraft carrier in the official confirmation of what is viewed as a symbolic breakthrough for the country's naval force.
As the date of its first trial at sea is unknown, strategists said the operational significance and implications of China's first aircraft carrier will not be seen in the short term.
"China is using an old aircraft carrier platform for scientific research, experiment and training," Geng Yansheng, a Ministry of National Defense spokesman, said at a press conference on Wednesday.
China needs to acquire an aircraft carrier due to the country's long coastline and large area of territorial waters, he said, adding that the vessel will help to keep the peace.
CCTV - 9
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Dialogue (30 Minute Current Affairs Program) - Water crisis looming larger
As the world’s population increases, so too does its need for food and water-the two resources which are absolutely necessary to sustain life. Chinese experts warn that by 2030 when China''s population reaches 1.6 billion, per capita water resources will drop to 1760 cubic meters -- perilously close to 1700 cubic meters, the internationally recognized benchmark for water shortages. The China water crisis threatens the stability and prosperity not only in China but globally too. The government must adopt a new policy to reduce water consumption.
Dialogue (30 Minute Current Affairs Program) - China's economy strong but challenges remain
The momentum of China''s economic growth remains strong as the country rolls out policies to develop strategic emerging industries, accelerate the construction of low-income homes and encourage private investment. However, the country also faces resource and environmental constraints in the domestic market, as well as pressure to transform its economic growth pattern and create sustainable economic growth.
Dialogue (30 Minute Current Affairs Program) - Tougher IPR battles
The Wall Street Journal
Seeking an Answer on U.S. Arms Sales to Taiwan
Should the U.S. back away from its defense commitments to Taiwan? It’s a question that’s been heartily debated over the past year as influential figures have publicly called for the U.S. to pull away from Taiwan to foster increasingly key relations with China. In a recent interview with the Wall Street Journal, Taiwan president Ma Ying-jeou weighed in on the question, acknowledging that it will become increasingly difficult for Taiwan to purchase weapons given the evolving nature of U.S.-China relations.
Beijing Points to Pakistan After Ethnic Violence
China pointed a finger at Pakistan, one of its closest foreign partners, as it blamed one of two deadly weekend attacks in the northwestern Xinjiang region on Muslim extremists trained across the Pakistani border.
China Housing Prices Slow
SHANGHAI—Chinese housing prices in July recorded the lowest on-month increase this year, according to a private market-data provider, indicating that the central government has managed to get a handle on runaway growth in some regions' property prices.
See Kaixin's - China Real Estate
Chew on This, Yuan Critics: New and Improved Big Mac Index
New York Senator and prominent yuan critic Chuck Schumer might want to make sure he’s sitting down before he checks out the Economist’s results, which show that on this basis the yuan is actually overvalued against the dollar by 3%. Against a group of various currencies, the yuan is still figured to be undervalued by 7%. which the Economist says is “hardly grounds for a trade war.”
See Kaixin's - Yuan Revaluation & Internationalisation
A Letter to Yiyi: Chinese Newspaper’s Defiant Commentary on Train Collision
China’s Economic Observer decided this weekend to publish a hard-hitting special report on the previous week’s high-speed train collision near the city of Wenzhou, defying strict orders from propaganda authorities in Beijing to play down coverage of the accident.
The New York Times
Pearls, Finer but Still Cheap, Flow From China
ZHUJI, China — One of the most feared men in the worldwide pearl industry these days is a muscular, Ferrari-driving 40-year-old who is doing the improbable: growing pearls that are nearing the highest quality and may be affordable for middle-class Americans.
Roaming Fees as Low as China's Won't Be Matched Soon
While Europeans and Americans traveling abroad still face steep roaming charges, travelers from mainland China can call home for as little as it costs to make a local call in that market.
In China, a More Western Approach to Elder Care
Nursing homes are popping up all over China, a researcher finds, signaling a sea change in attitudes toward the elder care.
Caixin Online
More Investors Ask, Why Not Short the Yuan?
Crisis theorists and others are wagering that the Chinese currency will veer from its long appreciation path against the dollar
Plenty of smart money is betting on the rise of the yuan, but some overseas foreign exchange investors are looking the other way.
See Kaixin's - Yuan Revaluation & Internationalisation
Psyching Out Inflation
By Andy Xie
Plenty can be done to stabilize prices, from raising interest rates and privatizing state companies to dumping the dollar
A cost-price spiral psychology has become a powerful multiplier influencing China's inflation dynamic. Will it spiral out of control?
See Kaixin's - Economic China
Geopolitics at a Mongolian Mine
The Mongolian government is trying to divide a coking coal mine among Chinese, Russian and American interests
A coalition led by China's largest coal company Shenhua Group was granted a leading 40 percent share of a massive Mongolian mining project in July, leaving a Russian-Mongolian concern with 36 percent and U.S.-based Peabody Energy with 24 percent.
Southeastern China's Labor Shortages
Labor shortages in southeastern China are growing more acute, on factors which include less competitive wages and the ongoing movement of industry to inland provinces
(Beijing) -- Labor shortages in China's southeastern coastal areas continue to aggravate the woes of small- and medium-sized business owners, already facing a challenging business environment including decreased access to credit, rising costs of raw materials and the appreciation of the yuan.
Asia Times Online
Taiwan lowers its military sights
By Jens Kastner
Beyond posturing slogans, the latest assessment to the Taiwanese armed forces to the cross-straits military imbalance fails to impress. Added to the absence of protest at reports of a brazen incursion by mainland jets into Taiwanese airspace, some liken the cutting back on military spending to unfurling the flag of surrender.
Dragon, eagle, elephant and a black swan
By Dinesh Sharma
Hype over China's and India's rise is too easily undermined by hard facts, with innovation keeping the United States in its lead role. The race between the flying dragon, lumbering elephant and swooping eagle is still on for the 21st century, but the "rugged individualism" that defined America's success may - like a lonesome cowboy - soon ride into an Asian sunset.
China drives up yen
By Hussain Khan
Surging Chinese demand for Japanese government bonds and equities, up US$173 billion last year alone, account for about 60% of Japan's current balance of payments surplus, and to a large extent is behind the strong appreciation of the Japanese currency.
China hand seen behind
vast buy-up of Japanese shares
By Hussain Khan
China's five-year plan requires development of several "strategic", technologically demanding industries. An Australia-based fund that has become a leading shareholder in many top Japanese companies appears to be helping Beijing towards that goal. Why the fund is a top-three stakeholder in Japan's three biggest banks is more mystifying.
SINOGRAPH
High-speed rail crash sets reform in motion
By Francesco Sisci
Shock over the 39 deaths in the derailment on China's new and indigenously built high-speed line is sweeping through the world's largest rail system. Changes won't stop at a review of plans to extend the line to neighboring countries, as loss of the Railways Ministry's iron-fisted control could accelerate more general reforms.
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
"The Real China is made by Chinese mothers and grandmothers, from each individual family's hard work," says Xue Xinran
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