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Oct 20

China-ASEAN Free Trade Area on schedule

Written by: dewang | Filed under:Asian Union, economy, News | Tags:, , , ,
26 Comments » newest 2009-11-08 01:43:34

According to a Xinhua report, the 6th China-ASEAN Expo is being held in Nanning, Guangxi province, Oct 20 – Oct 24th.

I have mentioned in the past, that Asia is underway to form its own free trade zone like the E.U.. (For material goods,) the article says China-ASEAN Free Trade will commence in 2010 – which is on schedule. More details: China-ASEAN FTA to be completed in 2010, ASEAN envoy.

The E.U. took many treaties between member states to culminate in the union that exists today and then the single currency, Euro. See, E.U. Timeline for details. I see what is happening in Asia mirroring what happened in Europe.

In my Sept 1st post, “Yukio Hatoyama, Japan’s new Prime Minister: “A New Path for Japan””, I brought to your attention Hatoyama’s support of an Asian Union.  In this Xinhua article, we hear Asian leaders continue the push towards this direction. It’s all slowly adding up.

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Sep 25

Here is something interesting I found on Youtube.  For all the talk about China spreading propaganda and indoctrinating their children – you know teaching children about the greatness of their nation, their leader, their history … about the importance of social harmony …  instilling hope for a better future – does the U.S. really look that different?

Continue reading »

Sep 12

In the continuing saga that is Chen Shui Bian’s colorful life, a trial court in Taipei sentenced Chen to life in prison yesterday as the first phase of his dramatic corruption and embezzlement trial came to an end. Chen’s wife, Wu Shu-chen, received a life sentence on corruption charges. Their son and daughter-in-law, convicted of money laundering, received relatively lenient 2 1/2 – and one-year terms. Continue reading »

Sep 09

minipost-Four In Urumqi Indicted Over Needling Pedestrian

Written by: Charles Liu | Filed under:-guest-posts, -mini-posts, General, News | Tags:, ,
7 Comments » newest 2009-09-11 05:27:51

Four In Urumqi Indicted Over Needling Pedestrian:

According to Xinhua News on 9/7, prosecutors in Urumqi indicted 4 people over Shaoximen needling case on 9/3. This is the second case of needling the Urumqi prosecutors have filed.

Suspects Abdul-Rusuli Abdul-Kedl, Abdul-Rahman Abdul-Razzaq, Abdul-Keyoumu Abdul-Aufu, Abdul-mithi Mamati, around 9/3 10:30 followed a woman (surname Lee) into pedestrian underpass in Urumqi’s Shaoximen area. When they passed Lee, Abdul-Rusuli Abdul-Kedl with help of three others, stabbed Lee’s neck with a hyperdermic needle.

Withe the help of the crowd, the four were caught at the scene. On the 3rd they were detained by Urumqi police on the charge of endangering public safety. On the 7th, the case was moved to the prosecutors, and the four were offcially arrested. Urumqi police carried out the order on the 7th.

Urumqi prosecutors said, these four suspect ignored established laws, needling women in the public, severely distrupted social order with serious consquences. A crime has clearly taken place, with concrete evidence.

Aug 28

Dalai Lama is set to visit Taiwan next week. The Dalai Lama has been invited a group of local DPP officials representing several southern counties – where DPP support is especially strong.

The Dalai Lama has visited Taiwan twice, once in 1997 and 2001. However, soon after Ma took office on a platform promising to amend ties with the Mainland, a request for the Dalai Lama to visit was turned down by Ma, citing the timing as not proper. A Dalai Lama visit then could have derailed Ma’s plan for closer ties with the Mainland – and still has the potential to do so the same. Continue reading »

Aug 21

Courtesy of China News Wrap‘s translation of a Chinese language article from Pepole’s Daily, titled, “Former vice-chairman of county-level political congress executed for rape of 24 female students.”

Wu Tianxi

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Aug 20

President Hu recently met with a delegation of ethnic minorities from Taiwan, and pledged further support from the mainland for whatever help Taiwan may need.  Ethnic minorities in southern Taiwan, living often in remote villages, were the hardest hit group in Taiwan by the recent typhoon. Here is a translation of a story on the People’s Web by China News Wrap:

Hu meets delegation of ethnic minorities from Taiwan

Hu meets delegation of ethnic minorities from Taiwan

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Aug 17

From August 6-9, southern Taiwan was hit with the worst typhoon in 50 years. Per the Associated Press story:

“Morakot dumped more than 80 inches (two meters) of rain on the island last weekend and stranded thousands in villages in the mountainous south. A total of 15,400 villagers have been ferried to safety, and rescuers are working to save another 1,900 people. The storm destroyed the homes of 7,000 people and caused agricultural and property damage in excess of 50 billion New Taiwan dollars ($1.5 billion), Ma told the security conference.”

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Jul 22

News of the suicide of Chinese worker Sun Danyong last Thursday after his employer accused him of stealing an Apple iPhone prototype has caused quite a stir in Chinese media and online community. Continue reading »

Jul 15

This is the full session between Niall Ferguson and James Fallows at the recently held Aspen Ideas Festival. Allen had posted excepts and we promised you the complete discussion as soon as it became available. Niall Ferguson had coined the term “Chimerica” to describe the symbiotic relationship between the economies of China and the United States. He currently sees this relationship as being in jeopardy, while James Fallows feels the relationship is far stronger the most realize. This video is slightly over 75 minutes.

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Jul 09

I came across an Op-Ed in the WSJ by Rebiya Kadeer regarding the recent violence in XinJiang.  I thought it would be interesting to post them here for our discussion. Ms. Kadeer is the president of the Uighur American Association and World Uighur Congress.  Chinese authorities have accused Kadder of inflaming ethnic tensions in XinJiang and orchestrating the most recent riots.

Continue reading »

Jul 06

Chinese media has been reporting what appear to be ethnically-motivated riots in Urumqi, the capital of Xinjiang.  Xinhua reports that casualty may have reached 140, with more injured.

Western press have also latched onto the story. Here is the latest report from the Wall Street Journal. Continue reading »

Jun 26

Is China faking economic recovery?

Written by: guest | Filed under:-guest-posts, News | Tags:, , ,
47 Comments » newest 2009-08-16 13:51:27

I found this story on an Indian newspaper based out of Mumbai, DNA (Daily News and Analysis) on how the GDP of China, as announced by the country is fabricated and the actual GDP is much lower. They have quoted Albert Edwards, chief global strategist, Societe Generale and International Energy Agency (IEA) to come to such a conclusion. Here is the full exerpt on the story

Venkatesan Vembu / DNA

Hong Kong: Cynical crunchers of statistical data believe there are three degrees of ‘mistruths’: lies, damned lies and statistics.

Increasingly, economy watchers are beginning to believe falsehood could go a step beyond: China’s GDP numbers. Ever since the official Chinese statistical agency announced earlier this year that the country’s GDP grew 6.1% in the first quarter of 2009, there have been murmurs of scepticism about the authenticity of those figures. A few have observed that the GDP data are inconsistent with other data, such as weak power production.

Those murmurs have in recent weeks turned into a high-decibel chorus that is beginning to openly rubbish the validity of the official numbers.

“The Q1 6.1% GDP outturn is simply a lie,” notes Albert Edwards, chief global strategist, Societe Generale. “It helps explain why the Chinese data is derided by so many economic commentators.”

Commodity prices worldwide have surged in recent weeks on the hopes of a robust V-shaped revival in the Chinese economy. But Edwards, who had rightly called the Malaysian economic crisis of 1997 and the dotcom bust of 2000, believes that “to the extent that the renewed surge in commodities and the metals and mining sectors are based on the Chinese growth miracle, the markets are relying on a combination of hype, lies and wishful thinking.”

Edwards isn’t alone in questioning the validity of the official data. Last month, the International Energy Agency (IEA) observed that China’s first-quarter GDP data “does not tally with oil demand data, which contracted by 3.5% year on year.” One explanation for this, IEA analysts reasoned, “is simply that real GDP data are not accurate, and therefore should not be taken at face value.”

Simultaneously, analysts at Lombard Street Research, a London-based economic consultancy, too argued that the 6.1% GDP growth figure was inconsistent with the 20% decline in trade volumes over the same period, because it would have required domestic demand to expand by 9% in real terms. Using official nominal annual growth rates for GDP and consumption for the first quarter, and consumer and fixed investment price indices as deflators for consumer spending and investment, respectively, Lombard analysts claimed that domestic demand expanded at most by 2% year on year in real terms.

They therefore concluded that real GDP growth in the first quarter was probably slightly negative or nil at best, and even in the fourth quarter of 2008, real growth was likely negative or flat. “If so, the last two quarters would effectively signal, from a Chinese perspective, a recession of a rare magnitude.”

China’s official statistical agency, the National Bureau of Statistics, responded to IEA’s scepticism with a stern rap on the knuckles. “It is regrettable that the point of view in the… article is groundless,” a notice on its website said.

“We believe that, for an international organisation, this approach lacks seriousness.””
Even economists who point to anecdotal evidence of China’s recovery concede that interpreting official Chinese data is problematic.

“Trying to understand China’s GDP data is always a nightmare for professional China economists,” observes Credit Suisse chief regional economist Dong Tao. “Since I joined this industry 14 years ago, I’ve had this trouble, I still have this trouble, and I suspect I will continue to have this trouble.”

He points out that there is abundant anecdotal evidence of a “phenomenal improvement” in China’s economy over the previous quarter too. “Go to restaurants, talk to real estate agents, count the number of shipping containers at terminals, see the number of cars being sold… I believe in my eyes.”

The plain-speaking Edwards, however, argues that “if the bubble of belief in China’s medium-term growth prospects finally bursts, it will have huge investment implications.”

It is all too easy, he reckons, for investors to buy into “beguiling growth stories, which are in fact utter nonsense.” He concedes that China’s mammoth 4 trillion yuan stimulus has had a beneficial effect on economic activity this year, but says that he still questions the “quaint notion the markets now seem to have that the Chinese economy can grow at a respectable rate when the rest of the world is in a deep recession.”

The “bullish group think on China is just as vulnerable to massive disappointment as any other extreme of bubble nonsense I have seen over the last two decades,” says Edwards. “The fall to earth will be equally shocking.”

Now the questions to be raised here are:
1> Why would China do it? To project themselves as the new economic centre of the world?
2> Does it do more harm than good? Considering economic decisions involve a lot of speculation… if trade has picked up because of these figures doesn’t it do good for the world economy?
3> It is okay for a country (assuming this report to be true) to project false figures to prevent people from panicking?

Jun 24

The Green Dam controversy continues. Most recently, U.S. trade officials also seem to be getting into the act. The following is an excerpt from a recent WSJ report: Continue reading »

Jun 23

minipost-India: Friend, Enemy, or Both?

Written by: Steve | Filed under:-mini-posts, News, politics | Tags:, , , , , ,
424 Comments » newest 2010-06-19 15:11:57

This article was printed in the People’s Daily on June 19th. Since this is a state controlled publication, whatever is published will usually have the blessing of the CCP leadership.

Chinese President Hu Jintao and India PM Manmohan Singh recently appeared together at the BRIC summit in Russia. Things seemed friendly enough at the time. What has changed since then? And why would China have a problem with the Asia Development Bank financing development projects in Arunachal Pradesh? I would think economic development in an area that China considers to be a part of her territory would be viewed by China in a positive manner, as it would be beneficial to the people of that region.

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Jun 22

i38_19379493 Events of the last week in Iran have been widely reported by the world press. Not long before, the press also reported on the 20th anniversary of the Tiananmen Square incident of 1989. Were these two distinct events reported in a similar manner or were they treated as different and unique events? Let’s take a look at each and see what we can find.

1) Who are the good guys and who are the bad guys?

Based on the coverage I’ve seen, both governments were cast as being in the wrong and both protest movements as in the right. In the case of China, the government sent in tanks and used live ammunition to break up a protest movement that was alleged to have turned violent. Most of the reporters in the world press were located in or near the same area, and their reports reflected what occurred in that vicinity. Analyzes of this event in most cases pointed to the government as the culprit and the demonstrators as being victims and responding in a suitable fashion. Is this an accurate assessment? The Chinese government attempted to confiscate film of the event from foreign sources but those attempts were successfully evaded in most instances.

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Jun 16

China Internet

It seems the western media and Chinese blogosphere agree on one thing; Green Dam is not winning any popularity contests. Today, the Chinese government backed down on the mandatory usage of the software, though it will still come either pre-loaded or be included on a compact disc with all PCs sold on the  mainland from July 1st.

There are several problems associated with this software, each one an interesting topic in itself. I’d like to run down the issues associated with its release, one by one.

1) Why the sudden announcement of this invasive software with virtually no implementation time given to the manufacturers?
Continue reading »

Jun 02

The BBC has run an article by James Miles, its Beijing correspondent who witnessed the events of the 3rd and 4th June, putting across his memories of those days, as well as subsequent thoughts on issues like their reporting and how the protests are seen today. I have selected a number of passages from the larger article.
Continue reading »

May 28

In this McKinsey report, a panel of leading Chinese economists explains how the world’s fastest-growing economy has kept expanding despite the global downturn.

China’s economy has demonstrated remarkable resilience in the midst of a worldwide slump. How has the country coped with the financial crisis? Is China finally emerging as an engine of global demand? Can its economy generate enough new jobs to maintain social stability? What will drive future growth? How should foreign firms in China adapt? In this interview, conducted by McKinsey’s Janamitra Devan in March 2009 in Beijing, four distinguished members of the McKinsey Council on China Business Economists explore these questions. Watch the video, or read the transcript below.
Continue reading »

May 14

Scurrying Bao: Another Hysteria over Personal Responsibility?

Written by: Nimrod | Filed under:News | Tags:,
28 Comments » newest 2009-05-22 17:31:31

Named after Running Fan, an overseas Chinese student surnamed Bao has been given the moniker Scurrying Bao (包窜窜) by angry netizens for becoming the first case of H1N1 flu in China.

The story is like this:

Bao, an outstanding graduate of University of Science and Technology of China (USTC), currently studies Physics at the University of Missouri. He was going back to Sichuan to get married. On May 7, he took a flight from St. Louis to St. Paul, then to Tokyo, and finally arriving in Beijing on May 8, where he stayed one night at a hotel.
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May 06

minipost-Taiwan and the WHO

Written by: Allen | Filed under:-mini-posts, Analysis, General, News, politics | Tags:, , ,
140 Comments » newest 2013-07-18 08:38:28

The last time Taiwan tried to apply for observer status in the WHO, China slammed it down.  When the SARS crisis arose and China offered Taiwan help, Taiwan denied and declined.

That was 2003, when President Chen of the DPP still governed Taiwan.

Fast forward now six years – how things have changed! Continue reading »