Reuters reports on China’s recent bailout of U.S. investment bank Morgan Stanley: China has agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by $9.4 billion of losses in subprime mortgages and other assets. China’s investment, which could translate into as much as a 9.9 […]
Read MoreThe New York Times profiles Shanghai art and design maven Pearl Lam: Ms. Lam, a daughter of the late Lim Por-yen, a Hong Kong tycoon, has been a pioneer in the Chinese art world. With the 1993 opening of the first Contrasts, in Hong Kong, she began promoting Chinese contemporary art long before it enjoyed […]
Read MoreFrom YaleGlobal: During December, visitors to China might think they were entering a Christian country – giant Christmas trees twinkle in subtropical Guangzhou, artificial snowflakes fall on street revelers in Nanjing to the sound of “I’m Dreaming of a White Christmas” and Santa Clauses smile from storefronts on every commercial thoroughfare of every major city. […]
Read MoreFrom Siify.com: Democracy may obstruct India’s development, but it also makes the world look at this billion-strong nation differently, with no fear of aggression vis-à-vis China, says Singapore’s Minister-Mentor Lee Kuan Yew. Lee also calls the efforts by India to forge a civilian nuclear deal with the US in the nation’s interest, but adds that […]
Read MoreFrom International Herald Tribune: New calculations by the World Bank, suggesting that the Chinese economy may not be as large as previously thought, are setting off a debate among economists over whether the calculations are accurate and what they should mean for the West’s currency policies toward China. The World Bank issued preliminary figures Monday […]
Read MoreFrom AP: The U.S. declined on Wednesday to cite China for manipulating its currency for unfair trade advantages. That finding came despite pressure in Congress for penalties because of the growing U.S. trade deficit with China. The trade gap is expected to hit an all-time high above $250 billion this year. The imbalance has been […]
Read MoreFrom BBC News: China’s central bank has raised interest rates for the sixth time this year, adding to its efforts to cool the country’s surging inflation. The benchmark lending rate will rise to 7.47% from 7.29% with effect from Friday, while the main deposit rate will increase to 4.14% from 3.87%. Chinese inflation hit 6.9% […]
Read MoreEnvironmental concerns have to fight against the lure of new jobs and GDP numbers. Again the green camp seems to be failing, this time against multinational chemical firm DuPont. Translated by CDT from Southern Weekend: The numbers are so enticing: 500 million yuan in tax revenue a year from next year on, 600 new jobs […]
Read MoreTranslated by CDT from China News Agency: China’s Ministry of Health and Chinese Medicine Administration have jointly issued a regulation that aims to set up a evaluation system to tally the medical ethics of doctors in various hospitals and other health care providers in the country. There are three components in the evaluation regime: self-assessment, […]
Read MoreWhile one frustrated fan has famously sued, many more movie-lovers have gotten around the censorship of Ang Lee’s award-winning film Lust, Caution by going to Hong Kong to see the full version. So writes Howard French in the New York Times: Travelers have made their way to Hong Kong to see movies before, of course, […]
Read MoreTranslated by CDT from the Beijing News: China’s petroleum output this year will exceed 186 million metric tons, or 1.5% more than the previous year, China’s oil and chemical industry association vice president Meng Quansheng (孟全生) said on December 19. He said the country’s oil output next year is expected to top 189 million tons, […]
Read MoreThe Danone Group, a global food-and-drink company whose brand names include Dannon yogurt and Evian water, broke off a deal to partner with Mengniu Dairy Co, one of China’s largest dairy producers. As the Wall Street Journal’s James T. Areddy writes: Groupe Danone SA’s decision to abandon a planned joint venture in China to make […]
Read MoreLong Tail author and Wired editor-in-chief Chris Anderson writes about a visit to China to discuss the possibility of finding a new business model based on the distribution of free music (that is, piracy): China represents rock bottom for the music industry, especially on the economics of the creative side. The CD business has evaporated, […]
Read MoreJames Fallows writes on Atlantic.com about the “art factory village” Dafen outside Shenzhen: I had heard a lot about Dafen, including in a very good story by Evan Osnos of the Chicago Tribune early this year. (The story seems no longer to be on the Tribune’s site. For reference, it was published on February 13, […]
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