That’s Beijing has a feature on the new Chnese virtual worlds that are trying to compete with Second Life: If Second Life is populated by only the occasional virtual Chinatown, the Beijing-born HiPiHi World turns the whole metaverse Chinese. With capital investment over USD 3 million and interest from foreign companies like Intel and Google, […]
Read MoreFrom VoxEU.org: China’s international balance sheet is highly skewed. On the liability side, FDI looms large, with relatively little investment by foreigners in the Chinese stock or bond markets. According to the State Administration of Foreign Exchange (SAFE), FDI accounts for over half of Chinese external liabilities of $965 billion, with portfolio equity and debt […]
Read MoreFrom AFP via Business Report: Industrial and Commercial Bank of China , the nation’s top lender, said it was not worried by US subprime troubles, as mortgage-backed securities were a tiny percentage of its assets. Subprime-related mortgage-backed securities amount to $1.23 billion, or 4.32 percent of the bank’s total foreign currency fixed income investments, Bank […]
Read MoreFrom Foreign Affairs (September/October 2007): China’s environmental problems are mounting. Water pollution and water scarcity are burdening the economy, rising levels of air pollution are endangering the health of millions of Chinese, and much of the country’s land is rapidly turning into desert. China has become a world leader in air and water pollution and […]
Read MoreFrom The Economist: JUST over two years after a big unlicensed bank was last found in China, another surfaced this week. Last time the bank was based in Shanghai and operated in a small number of provinces. This time the illegal bank, which is based across the border from Hong Kong in Shenzhen, is on […]
Read MoreFrom Foreign Policy Research Institute website: … There are many definitions of soft power, but basically, when the Chinese government talks about its new soft power in the world, it means all power outside of the military sphere, including diplomacy, aid, investment, and economic tools. One reason for this new relationship with the world is […]
Read MoreOne of many impoverished and debt-ridden African countries that are now attracting Chinese businessmen, Chad is hoping that Chinese investments its oil fields will benefit the economy, instead of corrupt officials. From the New York Times: Chad is as geographically isolated as places come in Africa. It is also among the continent’s poorest and least […]
Read MoreFrom Royal African Society website: What passes for the conventional wisdom emanating from Western capitols these days portrays the emergence of China as a major economic and diplomatic force on the African continent that is having a detrimental impact on the prospects for good governance there. China’s ‘no conditions’ foreign policy has in short order […]
Read MoreFrom openDemocracy: The epic process of China “going global” has been underway for over a decade, but the events of late July 2007 may well be its defining moment. The stake in Barclays bank purchased by the China Development Bank – one of Beijing’s state-owned “policy banks” – is significant in itself, but it also […]
Read MoreZhou Jiangong, an analyst on China’s economic, political and foreign affairs, reported that China’s weak consumption causes the unbalanced development. From Asia Times Online: Investments, consumption and exports are the troika pulling along China’s economy. But for a long time, growth in domestic consumption has lagged far behind the other two, so much so that […]
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