From the Financial Times (link) China’s big state banks are still not operating on a commercial basis despite the injection of billions of dollars of government bail-out funds and the sale of substantial stakes to foreign investors, according to International Monetary Fund research. An IMF working paper published on Thursday says that the banks’ working […]
Read MoreFrom the New York Times (link) The rise of protectionist sentiment in the United States over a $202 billion trade deficit with China could hurt the Chinese economy, Commerce Secretary Carlos Gutierrez said Wednesday. Mr. Gutierrez said at a business forum here that protectionist measures could lead to a decline in Chinese exports to the […]
Read MoreFrom the Financial Times (link) Beijing said on Thursday it would commit Rmb10bn ($1.2bn) towards cleaning up last year’s chemical spill in the northeastern Songhua River, one of the worst environmental disasters in China since the founding of the communist state in 1949. The State Council, China’s cabinet, approved a plan for the next five […]
Read MoreFrom BusinessWeek Online (link) The Bush administration said Thursday that it is filing a trade case against China before the World Trade Organization in a dispute involving auto parts from the U.S. and other nations. The 25-nation European Union joined in the complaint, which alleges that China is imposing high taxes on imported auto parts […]
Read MoreFrom the Financial Times (link) Addressing students in Beijing this week, Jim Owens, the chief executive of Caterpillar, the US construction equipment giant, exhorted Washington to drop its protectionist rhetoric and focus on engaging China positively. Elsewhere during his visit, though, Mr Owens might have privately carried a similar message in support of open markets […]
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