From AP, via Detroit Free Press: The signs of a surging economy are everywhere: flashy luxury cars, glitzy shopping malls, expensive restaurants and construction cranes in many neighborhoods. For most Chinese, this is a good thing. It means more jobs, higher incomes and rising affluence. But China’s leaders, fearful of accelerating inflation and the risk […]
Read MoreFrom the International Herald Tribune: Is it risky for a big borrower to offend its largest lender? China, which is the subject of increasing protectionist pressures in the United States, is not only the largest contributor to the large American trade deficit. It is also the largest lender to the United States. Last year, when […]
Read MoreTime Europe tells the stories of illegal immigrants from China who make it in England, and those who don’t. From “Dreams of Leaving”: Why do so many middle-class Chinese risk a perilous crossing, mountains of debt and years of grueling labor to start over in a strange land? Life in Fujian is not one of […]
Read MoreHenry Kissinger has offered his perspective on the rise of China: China’s rise as a global power is inevitable and could lead to conflict unless Beijing and Washington can cooperate to create a new global order, former U.S. Secretary of State Henry Kissinger said on Tuesday. Kissinger first came to Beijing in 1971, on a […]
Read MoreChinese blogger Zhao Mu published following commentary on his sohu blog. Translated by a Hong Kong based blogger and published on his Reading China blog: Jilin university is in financial crisis. It cried for help a few days ago. A few days ago, the finance office of the Jilin University put up a notice on […]
Read MoreThese posters have appeared in various BBS’s and websites. This is a parody of Forbes’ China’s Richest list. called „ÄäÁ•∏Â∏ÉÊñØ„Äã10§ßÁ©∑ÂÖâËõãÊéíË°åʶú (Huobus’ Top Ten Poor Bastards Chart). Here are five of those ten posters, translated by CDT. Thanks to Jason Li of Virtual China blog for the tip.
Read MoreFrom Asia Times: On Wednesday, the US Commerce Department reported that the 2006 current-account deficit was US$856.7 billion, up from $791.5 billion in 2005 and setting a new record. The deficit was 6.5% of gross domestic product (GDP). In the fourth quarter, the current-account deficit was $195.8 billion, down from $229.4 billion in the third […]
Read MoreFrom Chicago Tribune: In a move that speaks to China’s growing significance in the global economy, its government said Friday it will look for more aggressive ways to invest sizable portions of its massive $1 trillion currency reserves. The new Chinese pool of money, expected to total $200 billion to $300 billion, would instantly create […]
Read MoreThe New York Times editorial page weighs in on China’s expanding, but controversial, role in Africa: Beijing’s huge purchases of oil and other resources have made it the continent’s third-largest trading partner. Its callous yuan diplomacy is a growing problem for some of Africa’s worst-off people. China’s oil appetite has drawn it into an ugly […]
Read MoreFrom Keralanext: A billionairess in east China’s economically booming Zhejiang province, has been detained on charges of illegal fund raising, the Dongyang police said Monday. 26-year-old Wu Ying has allegedly pooled fund illegally by promising high interest rates to the creditors, the police said. Local police has her shops and businesses controlled. The Dongyang government […]
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