From China Daily via China Economic Net: In a bid to curb overheated investment, the State Council has given local governments one month to report new industrial projects that have been approved against national rules. The ultimatum aims to halt some projects that fail to meet industry policies, land and credit approval procedures and environmental […]
Read MoreFrom Bloomberg: Michael Milken, the controversial financier and philanthropist, said China will overtake the U.S. economically this century, though for now the U.S. should concentrate on Mexico. “Our projections show the United States will be the world’s second-largest economy and India will be the third,” some time this century, said Milken, chairman of the Milken […]
Read MoreFrom Bloomberg: Many of the rockets Hezbollah is firing into Israel are made in Iran, demonstrating the Islamic republic’s success in copying Chinese and Russian technology to build its own weapons industry. The Shiite Muslim group’s arsenal includes Iranian-built portable Katyusha rockets, Israeli Reserve Brigadier General Yossi Kuperwasser said. Hezbollah struck an Israeli ship on […]
Read MoreFrom Bloomberg: China’s central bank reiterated the government’s intention to rein in the fastest economic growth in a decade and foreshadowed several measures, including greater flexibility in the currency exchange rate. The People’s Bank of China didn’t say when the changes would come or elaborate on their nature in a story published yesterday by the […]
Read MoreFrom Bloomberg: Chen Shide is beating all mutual funds investing in China by buying shares of Shanxi Xinghuacun Fen Wine Factory Co. and Yantai Changyu Pioneer Wine Co., which are benefiting from growing personal incomes. Chen’s 1.69 billion yuan ($212 million) Guangfa Small Cap Growth Equity Fund has returned 101 percent over the past 12 […]
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