From Seed Magazine: For decades, China was barely a blip on the scientific radar. Communism’s arbitrary appointments, combined with the Cultural Revolution’s disdain for education, crippled Chinese science. But today China is in the midst of a scientific revolution. China’s current economic and political strategy, as named by President Hu Jintao at a recent Central […]
Read MoreFrom the Cato Institute: China’s emergence from centuries of isolation and stagnation is one of the great stories of our time. The world’s most populous nation has rejoined the global economy. As Bush and other visitors to China see firsthand, hundreds of millions of citizens there are beginning to taste the rewards of middle-class life […]
Read MoreFrom The New York Times: The Bush administration on Sunday promoted a sweeping plan to overhaul China’s financial markets and open the country to foreign banks, investment firms and insurance companies. Chinese officials offered virtually no public reaction on the U.S. agenda. In a brief news conference at the end of a meeting of finance […]
Read MoreFrom The Frontline (India’s National Magazine): Foreign investors are understandably showing an increasing interest in Chinese banks. But it is not clear why the Chinese government is courting the dangers associated with their entry. Until recently, China’s banks were described in terms that made them global outcasts. They were not seen as banks that mobilised […]
Read MoreFrom the Financial Express: Beijing prepares banks for foreign competition as the WTO deadline nears. One of the greatest challenges China must confront before the WTO treaty it signed enters into force in 2007 is to prepare its banking system for privatisation and competition with foreign banks. A new agency, Central Hujin Investment Company, has […]
Read MoreFrom The Foreign Affairs: The Man Who Changed China, a state-sanctioned portrait of Jiang Zemin, reflects the image that China’s new leaders want their people to see: pragmatic, moderate, and above politics. The vision, however, does not often match reality. Bruce Gilley is Adjunct Professor of International Affairs at the New School University in New […]
Read MoreFrom the Washington Post: For multinational companies grappling with stagnant sales, China has become a magnet for investment and a huge potential market beckoning with growth. Yet the lure of China profits combined with pervasive local corruption is tempting foreign companies and managers and bringing them into conflict with U.S. anti-bribery laws. In interviews, China-based […]
Read MoreFrom the Economist: In truth, the economy is slowing more markedly than these (highly suspect) official figures suggest. Many economists say that China has an institutionalised bias to over-reporting growth at the bottom of a cycle and under-reporting it at the top, to reduce the volatility of the numbers. Judged by physical indicators, such as […]
Read MoreFrom The New York Times: Two years ago, the China National Offshore Oil Corporation and another Chinese state-controlled oil company seemed on the verge of capturing a large patch of foreign oil reserves with a handshake deal to pay $1.23 billion for part of a field in Kazakhstan. Skip to next paragraph But the prospect […]
Read MoreFrom the Los Angeles Times: When Liu Chuan-zhi started a personal computer business in 1984 off “Swindler’s Alley,” Beijing’s electronics black market, he could never have imagined it would one day buy IBM Corp.’s PC business. Similarly, the firm of Clifford Chance, which handled the Lenovo-IBM deal, would have had little idea that within 20 […]
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