From Wall Street Journal: Chinese financial officials called on the U.S. and other developed nations to do more to rein in protectionism and deal with toxic assets in their banking systems, reflecting the nation’s...
Read MoreFrom Economic Observer Online: Fund raising problems amongst local governments have not only impeded investment projects under China’s 4-trillion yuan stimulus package, they also may have laid debt bomb for local...
Read MoreReuters reports on the shifting economic relationship between China and the U.S.: Beijing has been far and away the single biggest foreign buyer of Treasuries over the past year, but this apparent vote of confidence belies how...
Read MoreIn response to Wen Jiabao’s unease at the safety of China’s U.S. Treasury holdings, the White House has sought to reassure China. From Bloomberg: “There’s no safer investment in the world than in the United States,”...
Read MoreChina is less willing to take on U.S. debt, which could result in higher interest rates for American borrowers, according to the New York Times: On Tuesday, President-elect Barack Obama predicted the possibility of...
Read MoreWe have read a lot about the rising numbers of protests by laid-off factory workers in China. But today in Guangzhou, the owners of small and medium-sized businesses protested to demand government help against larger companies...
Read MoreFrom China Daily: China’s major public universities and colleges are encumbered by huge debts, according to a survey by Peking University. The one-year survey covered 76 universities and colleges affiliated to the Ministry of Education. It showed that the institutions rely heavily on bank loans and government funds. Most of their income goes to paying […]
Read MoreAnalysts point out the similarities in China’s bull market to Japan’s situation that led to a financial crisis in 1990. One economist compares China to a “giant elephant riding a bicycle – it has to maintain a fast speed, otherwise it will crash.” From AP via insidebayarea.com: When financial crisis devastated its Asian neighbors a […]
Read MoreFrom Financial Times: China is in the middle of the last and most difficult restructuring of its large lenders: that of Agricultural Bank of China (ABC) , a behemoth with nearly half a million employees, 27,000 branches and a stack of bad loans on its books. China has restructured four of its five state banks, […]
Read MoreFrom Xinhua: Chinese universities boasting the largest number of students in the world are endangered by severe financial crisis, a result of the rapid enrollment expansion since 1999, warned deputies to the National People’s Congress (NPC), the top legislature. To cater for students who flock to campus for higher education in expectation of finding a […]
Read More
Click on the image to download Firefly for circumvention
CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.
