Follow the Debate - China Economic News February 2012
Economic China
'The expansion of these gigantic cities has been fast, disruptive and unprecedented in world history. It has also been accompanied by rapid price increases. But they have occurred primarily in the first-tier cities. Markets cannot easily price what they have never witnessed before.'
One message is clear: The Chinese government wants to foster a national transformation from "world's factory" to "world's market."
China has been reforming itself, a process known as "crossing the river by feeling the stones." The unprecedented experience, plus the country's scale, leaves the outside world uncertain of its future.
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China Daily 28/2/2012
China investment set to increase
GUANGZHOU - Members of the American Chamber of Commerce in southern China plan to invest more in China in the coming years despite a sluggish global economy, according to a survey published on Tuesday.
The survey, which interviewed 461 companies, said the members' budgets call for increasing their spending in China by 21.4 percent for the next three years.
The survey polled businesses in Guangdong, Fujian and Hainan provinces, as well as the Guangxi Zhuang autonomous region and Chongqing. Many small and medium-sized businesses took part in it this year.
The chamber estimated that the nearly 2,000 members will spend about $11.7 billion in the next three years to expand their businesses in China, said Harley Seyedin, chairman of the chamber, at a press conference.
XinHua News 25/2/2012
Vice premier urges healthy development of small financial institutions
ZHENGZHOU, Feb. 25 (Xinhua) -- Vice Premier Wang Qishan called for more efforts to promote the healthy development of mid- and small-sized financial institutions to allow them to better serve the real economy.
"Financial institutions should implement a prudent monetary policy, as well as work to ensure financial stability and promote the country's economic growth," Wang said during an inspection tour of the cities of Zhengzhou and Xuchang in central China's Henan province.
Credit has long been a headache for the country's small companies, as major state-owned banks tend to favor lending to large companies.
The government has encouraged the development of small financial institutions as part of its efforts to strengthen support for small- and micro-sized companies.
People's Daily 25/2/2012
Geithner: China plays responsible stabilizing role
MEXICO CITY, Feb. 25 (Xinhua) -- China has played a responsible stabilizing role in its international policy, U.S. Treasury Secretary Timothy Geithner said here Saturday.
"China has played a really very responsible stabilizing role, despite its relative newcomer status," he said at a press conference.
"And if you listen to China talk about their challenges, dramatic changes in reorientation of structure of economy towards domestic demand, is every meaningful about the basic reform of the Chinese economy," said Geithner who is here for the G20 finance ministers and central bank governors meeting.
The Wall Street Journal 25/2/2012
Crisis, What Crisis? How to Beat Back the China Bears
By Tom Orlik
For more more than two decades, prophets of China’s impending doom have warned that the greatest economic success story in recent history is about to come screeching to a halt. For more than two decades, they’ve been wrong.
Of course, China has problems: an unbalanced growth model, ballooning credit levels and aging work force among them. But does that mean the world’s second biggest economy is about to fall over?
As a public service for Panda-lovers, China Real Time has compiled a list of the naysayers’ main arguments, and counter arguments you can use to stop them in their tracks.
Mysterious Document Gives New Rights to China’s Migrant Workers
China’s government has published long-awaited regulations allowing millions of migrant workers from the countryside to obtain permanent urban residence permits — and therefore access to public services — in small and medium-sized cities.
China Daily 24/2/2012
'Chance' to open capital account
Waiting for perfect timing could mean reform 'never' happens: Study
BEIJING - China has a "strategic opportunity" to ease curbs on capital flows to take advantage of lower valuations for Western companies and raise the yuan's global status, a central bank study has suggested.
China doesn't face great risks if it opens up its capital account, a goal that was included in the 12th Five-Year Plan (2011-15), the People's Bank of China publication Financial News reported on Thursday, citing a study by the survey and statistics department.
"If we wait until conditions for interest rate liberalization, currency liberalization and yuan internationalization all mature, we might never find an appropriate time to open up the capital account," said the report, written under the direction of head researcher Sheng Songcheng.
"Now is the time to do so because low valuations in overseas markets offer a rare investment opportunity for Chinese companies."
The Stoxx Europe 600 Index, even with an 8 percent rally this year, has fallen 34 percent since July 2007, driven down by global financial turmoil and the eurozone debt crisis.
"Too much emphasis on preconditions could easily make (a process of) gradual reform become negative and stationary, thus delaying the right time," the report said, adding that those presumed "preconditions" and the full convertibility of the yuan could promote one another simultaneously.
The study said China would not face big risks if the capital account was opened up, because most assets and debts in commercial banks are denominated in yuan, and most foreign-exchange assets are bonds whose principal and interest payments wouldn't be easily affected by market price fluctuations.
"In addition, outstanding short-term foreign debt is only a small proportion of China's debts, and risks in property as well as the capital market are basically controllable."
The study said in one to three years, China could loosen its reins on direct investment controls and encourage enterprises to go abroad, while in three to five years, it could deregulate commercial credit controls while floating the yuan globally.
"In five to 10 years, the country could gradually open up trading of real estate, stocks and bonds to foreign investors," it said.
"It's true that we don't need all the preconditions to ripen before opening up the capital account. But some of them must be fulfilled in advance," said Chen Daofu, policy research chief of the Financial Research Institute at the State Council's Development Research Center.
He said now might not be the right time to step up the pace, especially given increasing global uncertainties.
Having a market-based financial system was necessity, he said. "If China wants to open up to foreign capital, it is better to allow all kinds of domestic players and private capital to enter the arena first."
The Wall Street Journal 24/2/2012
PBOC Halts Open Market Operation Again
SHANGHAI—China's central bank on Thursday suspended its regular open market operation for the second straight week, thereby injecting funds into the market in Beijing's latest effort to keep money market liquidity conditions loose and provide support to the country's slowing economy.
China's policy makers have been trying to keep the banking system flush with liquidity in recent months to drive down borrowing costs, helping to boost lending as the world's second-largest economy contends ...
XinHua News 23/2/2012
China reiterates proactive fiscal policy stance in 2012
BEIJING, Feb. 22 (Xinhua) -- China will continue to implement a proactive fiscal policy this year amid complicated economic environments both at home and abroad, Minister of Finance Xie Xuren said Wednesday.
In an article published on the ministry's website, Xie emphasized the important role of fiscal policy in maintaining China's growth.
The country's fiscal deficit and government debt ratio both remain within a safe zone, giving room for the government to maintain its proactive fiscal policy, Xie said.
China's economy grew at its slowest pace in 10 quarters during the last quarter of 2011. Its fiscal revenue jumped 24.8 percent year-on-year to hit a record high of 10.37 trillion yuan (1.65 trillion U.S. dollars) last year.
"It's necessary and possible to continue implementing the proactive policy," Xie said.
The central government's infrastructure investment will remain at a "reasonable" level this year, focusing on the construction of affordable housing projects, building new water conservancy projects in rural areas, emission reduction and energy-saving, as well as the development of emerging strategic industries, he said.
Xie said China will enhance support for micro- and small-sized enterprises, lower import tariffs on some commodities and increase imports of energy, resources and advanced equipment.
The country will also push resource tax reforms forward in 2012 and promote property taxes on a trial basis, Xie said.
People's Daily 23/2/2012
China signs $4.3b in deals with Turkey
China firmly supports Turkey in its efforts to maintain domestic political stability and economic growth, Chinese Vice President Xi Jinping said Tuesday.
Xi made the remarks while meeting with Turkish Parliament Speaker Cemil Cicek.
The Turkish side also expressed support for China on issues related with Taiwan, Xinjiang and Tibet, he said.
Cicek reiterated that Turkey adheres to the one-China policy, recognizes the People's Republic of China as the sole legitimate representative of the Chinese people and respects China's sovereignty, independence and territorial integrity.
Also Wednesday, Xi called for more efforts in boosting trade and economic cooperation between China and Turkey.
Xi made the call when addressing a Sino-Turkish business forum in Istanbul.
Developed countries targeted for FDI
'Grim outlook' for first six months prompts new govt approach
BEIJING - The "grim outlook" for foreign direct investment has prompted the government to consider measures to boost investment from developed countries, a trade official said.
"The outlook for inflows of foreign investment from the United States and the European Union will remain grim during the first half of this year," Liu Yajun, director of the department of foreign investment administration under the Ministry of Commerce, told China Daily.
"We are concerned."
As of late last year China witnessed a decline in FDI from developed nations struggling to keep their economies afloat.
Caixin Online 23/2/2012
- Microcredit Lenders Boom in 2011
- According to the People's Bank of China, the total amount of microcredit loans issued shot up by 98.2 percent from the previous year
The Wall Street Journal 23/2/2012
New Push for Reform in China
Influential Report to Warn of Economic Crisis Unless State-Run Firms Are Scaled Back
By BOB DAVIS
BEIJING—An exclusive preview of an economic report on China, prepared by the World Bank and government insiders considered to have the ear of the nation's leaders, offers a surprising prescription: China could face an economic crisis unless it implements deep reforms, including scaling back its vast state-owned enterprises and making them operate more like commercial firms.
State-Run Firms Are the Giants of China's Economy
China's state-owned companies account for about 45% of the country's rapidly expanding economy, according to a report for the U.S.-China Economic and Security Commission.
Before China started opening its economy in the 1970s, all firms were in the hands of the government. That percentage is declining, but the firms are still expected to have immense influence for years to come.
China Daily 22/2/2012
Unpopular but friendly advice
Economics expert says events have proved him right
Martin Wolf, associate editor and chief economics commentator at the Financial Times, has on his desk a souvenir Chinese terracotta warrior and a miniature of French sculptor Auguste Rodin's Le Penseur.
These two classic works of art catch the eye among the neatly stacked shelves of financial books in Wolf's spacious Thames-side London office. But together they hint at a more current story - China's amazing economic growth alongside the anxiety caused by Europe's debt crisis.
"I expect Chinese foreign investment in Europe to grow substantially over the next 10 or 20 years, and that's quite natural and normal," Wolf says.
In the past two months alone, China Investment Corporation, the country's sovereign wealth fund, bought an 8.68 percent stake in the UK's largest water and sewerage company, Thames Water, while China Three Gorges, the operator of the world's biggest dam, bought a 21.35 percent stake in Portugal's biggest power producer, Energias de Portugal SA.
"Europe is still rich and has lots of high-technology companies," says Wolf, adding that further opportunities for Chinese investment exist in the motor vehicle, civil aviation and financial services sectors.
The relationship between China and Europe changed significantly in the aftermath of the 2008 crisis. The same financial shock that exposed the unsustainable debt levels of some eurozone governments left China's growth almost intact - thanks to a 4 trillion yuan ($635 billion, 483 billion euros) stimulus package introduced by the Chinese government, the effectiveness of which "really surprised" even Wolf.
People's Daily 22/2/2012
China-Turkey trade to expand
BEIJING - Trade relations between China and Turkey will deepen in the coming years despite inevitable frictions, experts said.
"Trade frictions between China and Turkey are inevitable as bilateral trade volume expands and the global economic slowdown intensifies export competition between the two fast-growing economies," Li Guofu, director of the Center of Middle East Studies in China Institute of International Studies, told China Daily.
"But the bilateral trade prospects are broad and will not be affected by trade frictions as China's fast development also benefits Turkey," Li said.
Gong Xiaosheng, Chinese ambassador to Turkey, agreed with the promising future in Sino-Turkish cooperation.
Caixin Online 22/2/2012
- Forex Purchases Spring Back to Growth
- Ending a three-month streak of net sales, China's top financial institutions bought more forex reserves in January
The Wall Street Journal 22/2/2012
Preliminary Data Show China Manufacturing Rose
BEIJING—The preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, rose to 49.7 in February compared with a final reading of 48.8 in January, HSBC Holdings PLC said Wednesday.
China and Turkey Sign Business Pacts
ISTANBUL—China and Turkey set aside differences on how to quell escalating violence in Syria on Tuesday, as Vice President Xi Jinping began the final leg of a diplomatic tour seen as a dress rehearsal for Chinese leadership by overseeing a series of bilateral business deals, including a central bank swap deal to boost trade in local currencies.
The Wall Street Journal 21/2/2012
China’s Quiet Debt Problem (Video)
Some analysts calculate that half the loans to China’s local governments are made by unlisted banks. The WSJ’s Heard on the Street Columnist Tom Orlik explains to Deborah Kan why investors are not exposed to the all the risk.
China’s Anti-Social Financing
The data shows that off balance sheet activity continues to grow – with trust loans creeping up. But in 2010 and the first half of 2011, surging off balance sheet activity was enough to compensate for the fall in bank loans. Now it is the fall in bank loans that is the dominant factor.
China Daily 17/2/2012
Exports face difficult outlook in 1st quarter
Government takes steps as demand in developed countries stays weak
BEIJING - China faces a "challenging" trade outlook in the first quarter amid a weak global economy, but it is taking steps to maintain steady trade growth, the Ministry of Commerce said on Thursday.
"China's trade outlook in the first quarter, on the whole, is quite challenging because the downbeat global economy is adding more pressure to China's external trade environment," Shen Danyang, spokesman for the ministry, told a news conference in Beijing.
Data released on Feb 10 show that China's imports sank 15.3 percent year-on-year in January, falling at the fastest annual rate since August 2009. Exports fell 0.5 percent, the worst performance since November 2009.
However, the ministry said that the headline numbers for January did not represent the real trend, due to distortions caused by the Lunar New Year, which fell in January this year compared with February last year.
People's Daily 17/2/2012
China suffers double slumps in foreign trade, FDI
China suffered the worst foreign trade performance in January since the burst of the global financial crisis with slumps in both export and import. The foreign direct investment (FDI) in January also slightly plunged, the Ministry of Commerce (MOC) said Thursday.
The aggregate volume of China’s foreign trade in January was 272.6 billion U.S. dollars, 7.8 percent down year-on-year.
Shen Danyang, the spokesman of MOC, said at a regular news briefing on Thursday that the weakened demand from the major trade partners particularly the European Union gave a blow to Chinese exporters, noting that holiday factor exacerbated the pain.
China should reform banks to prevent risks: central bank
BEIJING, Feb. 16 (Xinhua) -- China should deepen the reform of its large commercial banks and policy financial institutions this year, in the wake of an increasingly complex external and internal environment, the country's central bank said Thursday.
The People's Bank of China said in an online statement that it will further strengthen these banks' daily financial risk monitoring, their soundness appraisals and their reporting upon financial emergencies, in an effort to prevent systematic and regional financial risks.
According to the statement, supervision over local financial institutions, non-banking financial institutions and private financing will also be strengthened in 2012.
XinHua News 16/2/2012
China pledges deeper economic reforms
BEIJING, Feb. 15 (Xinhua) -- China's State Council, or the Cabinet, on Wednesday pledged to push for deeper reforms to address the country's economic problems.
The government will use reform to solve deeply rooted structural problems that are hampering the country's development, according to a statement released after a State Council executive meeting presided over by Premier Wen Jiabao.
Gov't makes move to defuse labor disputes
BEIJING, Feb. 15 (Xinhua) -- Chinese authorities announced Wednesday that the country will create improved channels over the next few years to handle increasing labor disputes.
The Ministry of Human Resources and Social Security said on Wednesday that China will set up institutionalized arbitration offices for handling labor disputes and make them generally available in county-level regions by 2015.
People's Daily 16/2/2012
China expects attractive euro investment products
China will keep investing in the euro zone government bonds and expect the European Union to produce more attractive investment products, said Zhou Xiaochuan, governor of China’s central bank Wednesday in Beijing.
The Wall Street Journal 16/2/2012
The $3.2 Trillion Question: Where are China’s Currency Reserves?
Where exactly has China parked its $3.2 trillion in currency reserves?
Given the country’s gargantuan status as an investor in the debt-laden industrialized world’s government bonds, this is a crucial question for global financial markets and for economies in general.
People's Daily 15/2/2012
Beijing lends a hand to Europe
BEIJING - China is ready to help Europe deal with its debt problems, Premier Wen Jiabao said on Tuesday.
But Europe must solve its own crisis and China expects the eurozone to send clear and positive signals to the world that it can tackle the situation, Wen said.
The Wall Street Journal 15/2/2012
The Economic Geography of U.S.-China Relations
China’s Vice President Xi Jinping is hitching his wagon for a trip westward across the U.S. this week. The farther west he travels, the less he is likely to have to deal with one of China’s most persistent diplomatic headaches: the value of the yuan.
On the Farm: Where China Runs a Trade Deficit With the U.S.
Agricultural policy has lately proved a tough row to hoe for the U.S. and China — the world’s largest agriculture exporter and the world’s largest producer, respectively. There was an unexpected spat over animal feed last June, and lately top Chinese officials have been downplaying the country’s need for U.S. corn.
Chinese Investors Making Acquisitions in Europe - VIDEO
Chinese companies are increasingly turning to Europe to make acquisitions. The WSJ’s Deborah Kan talks to Andre Loesekrug-Pietri about what they are looking for.
China Daily 11/2/2012
Cross-province effort to build economic hub
WUHAN - More than 90 million people will benefit from comprehensive business cooperation jointly launched by Hubei, Jiangxi and Hunan provinces, Li Hongzhong, Party chief of Hubei province, said on Friday.
Addressing a conference in Hubei's provincial capital Wuhan, Li said the agreement reached by leaders of the three provinces is a sign that cooperative efforts to establish a new urban hub in Central China have officially begun.
According to Li, the blueprint will strengthen business cooperation between three capital cities - Wuhan, Changsha and Nanchang - which form a natural triangle where more than 90 million people live, nearly 8 percent of China's population.
The zone had a total economic output of 2.5 trillion yuan ($397 billion) and maintained 7.3 percent of the country's gross domestic product in 2010.
More than 129 of the top 500 global companies have either investments or offices in the region, he said.
The Wall Street Journal 8/2/2012
IMF Urges Beijing to Prepare Stimulus
China should be prepared to sharply stimulate its economy if Europe's growth falls more than anticipated, the International Monetary Fund said, adding to expectations that Beijing could turn to spending if conditions significantly worsen.
China Takes On Skeptics of Aid to Euro Zone
BEIJING —Chinese Premier Wen Jiabao offered a forceful justification for helping Europe out of its debt crisis, in remarks that appeared aimed in part at countering public skepticism about the wisdom of using Chinese money to support rich world countries.
The Wall Street Journal 1/2/2012
IMF Says Asia Has Room for Stimulus
SINGAPORE—Asia so far has proved resilient to the European debt crisis and slowing global growth, and countries in the region have room to take growth-boosting steps in case of a sharp downturn, the International Monetary Fund said.
China Themes
Yuan Revaluation & Internationalisation
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Set in Zanzibar in 1910, it is the story of two people from different worlds falling in love. Susan immerses herself in Zanzibar. Asim falls in love with this woman from the nation that killed his wife. Susan is a spy. Asim is the chief advisor to the Sultan of Zanzibar. Germany and France are holding secret negotiations to form a Pan European alliance, which would isolate Britain and destroy her power. Susan and Asim are caught up in all this and their love is finally dashed on the cold, hard reality of international high politics.
Available on Amazon's Kindle $4.99 - Over 400 Pages
Chapter One
Zanzibar
'A maharaja’s ruby cast on a Persian carpet by the blackest of hands'
Their souls danced, honouring his promise.
The ancient dhow stirred in the soft morning breeze, moving through the water like a sated lion, snuffling about the other boats on the harbour; some scurrying, some at anchor, some darting before a brief gust of wind. The lateen sails a bustling panorama of blood-red and sun-bleached white.
Aft, the woman's eyes searched the skyline, drinking in the architecture of Stone Town, the heart of Zanzibar; its jagged, cluttered silhouette so familiar, so much a part of her soul.
Abruptly, her eyes ceased their restless searching, jagged by an invisible hook, transfixed by the grand buildings on the northern shore, Beit-al-Ajaib, the House of Wonders, Palace to the great Sultan of Zanzibar. The distinctive architecture captured in the tropical light: coconut white outlined by contrasting shadow plays of pepper black.
A smile, ever so slight, started to play on the edge of her mouth then disappeared. A memory that should have been fond instantly turned to sharp unbearable pain. Her eyes hardened and moved on.
Without warning the captain threw the rudder over. Stumbling, the woman barked her shin on a wooden box, a rough-hewn coffin. She recoiled, knocking over an untidy stack of cane baskets. Imprisoned in the baskets, rusty cockerels, their scruffy heads straining through the latticework, snapped at her, cried out to her; their raucous din overwhelming her, drowning her.
Dimly, through the fog of noise, the strident swearing of the sailors in Kiswahili seeped into her conscious. Understanding, she smiled mirthlessly.
The coffin had been carelessly stowed, a chore, rather than a labour of respect or love.
London 1910
“Hello, who are you? I am Oliver, is Edward at home?”
The words were spoken by a tall, impeccably dressed young man as he rushed into Edward’s flat shaking off surplus water and calling for whisky while shoving his umbrella into a stand. It was a blustery, grey, bitterly cold February afternoon in the heart of London. He brushed a curl of soft auburn hair from his forehead and smiled charmingly.
Susan laughed, her hazel eyes dancing with the exhilaration of the new. “Yes, he is having a bath. I think he is trying to get warm. I’m Susan, Susan Carey, his sister.”
“Ahhh yes, from Australia. How do you do?” said Sir Oliver, smiling broadly and offering his hand. He had noticed the laughter in her eyes, and the depth, particularly the depth, intensified by jade flecks that made them striking and alluring. “So, you have arrived, good trip I trust.”
“I am very well thank you, and yes, it was a good trip,” replied Susan.
He laughed and glanced at the sitting room, “whisky?”
“Oh, I’m sorry, please come in…….. that was silly of me, after all, it is your flat.”
Oliver smiled and gestured for Susan to lead the way. He followed her into the room, and after helping himself to a generous portion of whisky, walked over to the fire.
Shortly after, Edward, wrapped in a huge ruby-coloured dressing gown and wiping soap from his ear strode into the room. He was of similar age to Oliver, late twenties, well built, if slightly podgy, with dark auburn hair and a full moustache. Susan looked up and smiled to herself, she could see now where he had picked up some of his new mannerisms.
“Thought I could hear voices. I see you two have met, no need for introductions then.”
As he was speaking, Edward walked to the side table and grabbed a whisky decanter by the neck. He glanced at Oliver who nodded. A long finger snaked into one of the tumblers followed by the distinctive clink of crystal. He swept the decanter off the table and carried it to where Oliver was sitting. After pouring the whisky, he sank into a lounge chair and sipped from his glass, enjoying the warm glow as it spread through his body.
Suddenly he sat up exclaiming, “Sorry sis, would you like something to drink?”
“Kind of you to remember, but no thank you, and yes, Oliver has already inquired.”
Edward nodded and sank back into his lounge chair.
They chatted, tentatively at first, getting to know one another. Edward had not seen Susan for two years and was unsure how his sister would take his new relationship. Oliver was intrigued by Susan. An attractive, self-assured young lady of high intelligence with a degree was a rare find. And, as fate would have it, she was also a trained and experienced teacher. He suggested a picnic at Oxford, which was met with ready acquiescence. Arrangements were made for the following Sunday.
“I’ll see if the Rolls is available,” mused Oliver. “Must ring father, haven’t spoken to him in ages.”
Oliver, Sir Oliver Marchmaine, was an unaffected young man of intense intelligence who saw life as a great adventure to be lived to the full. He was also unyieldingly loyal to his country, England, which is why he had joined Military Intelligence on leaving Oxford.
It was 1910 and Europe was stirring. It was a time full of interest, intrigue and danger. The European chessboard was becoming increasingly complex, the moves more subtle. A time when an unexpected move or feint could have profound consequences.
Regaining her balance, the woman’s eyes were drawn, hesitantly at first, resisting back to Beit-al-Ajaib. She wondered if it was still the same. Still the same centre of power and intrigue that had been so much a part of her life all those years before; that had defined her life.
She remembered those first few moments, remembered standing in the foyer of the palace, .………… remembered the breathtakingly beautiful Persian tapestry ........
The sea breeze stirred her clothes. She smiled a little sadly, and in her mind the tapestry gently swayed. Two small apparitions ran giggling up the stairs: two small exquisitely rich burkas disappearing along the first floor landing. Childish squeals of mischief and joy left in the air.......
“Move to seaward, you accused of Allah! Move!”
Her thoughts were clawed back to the dhow, the captain crashing the tiller over to avoid another boat on the crowded harbour. The woman instinctively ducked her head to avoid the heavy boom as it swung over her, the rusty cockerels squawked their raucous indignation, their heads straining through the latticework, relentless.
The collision avoided, the dhow continued on its way. The cacophony dying down to the occasional command by the captain or the cry of a seagull.
The woman's thoughts returned to Beit-al-Ajaib
…………. laughing and giggling, girls of seven or eight. A door on the first floor slammed and all sounds of them disappeared. Silence. The woman smiled. She could see herself, a young woman, dressed plainly, unselfconsciously, her sexuality tantalisingly just out of reach, hidden beneath the thin veil of her clothing. She remembered standing alone in the foyer, looking around, perplexed. Asim came through a door to the left of the tapestry.
“Salaam.”
The woman started and looked around. Then, realising, was cold again. Alone again. Alone, rocking to and fro to the rythm of the sea. Alone, beside a rough-hewn coffin.
Now Available on Amazon's Kindle $4.99 - Over 400 Pages
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