The Lion Awakes
News at a Glance
A compilation of Headlines + Brief Summary from Chinese & International Publications relating to China.
Just 5 Minutes each day to be up-to-date on the News of China
Combined with Kaixin’s boutique SITE SEARCH ENGINE, it is a unique source of knowledge about China"
China's economic macro-control to be tested in 2010
BEIJING: China's macroeconomic management would be put to the test both by the domestic and international markets in 2010, said Chairman of National Development and Reform Commission (NDRC) Zhang Ping Friday.
The country's fiscal and monetary policies would be tested given the uncertainties of 2010, Zhang said.
"As to monetary policies, if the bank continues to provide easy loans, inflation may occur. But if the government tightens monetary policies too soon, the economy may relapse into recession." said Li Daokui, director of the Center for China in the World Economy, Tsinghua University.
China defends move cutting US Treasury securities holdings
He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.
Growth fueled by urban investment
China's growth trajectory is driven by urbanization - through investment in cooperative megacities. During the past three decades, the share of China's city dwellers has more than doubled to 45 percent. And by 2040, the urbanization rate is expected to be close to 67 percent.
Recently, some Western analysts have argued that China's growth is a bubble because the country suffers from excess capacity. After all, China's total fixed investment last year was 47 percent of GDP, which is more than Japan's at its peak.
In China, the expansion of old and rise of new cities have been driven by growing economic prosperity and dreams of a better quality of life. At the heart of this colossal transformation, it is the central cities that drive growth - not just within city borders, but regionally
The expansion of these gigantic cities has been fast, disruptive and unprecedented in world history. It has also been accompanied by rapid price increases. But they have occurred primarily in the first-tier cities. Markets cannot easily price what they have never witnessed before.
Ultimately, China's new regional development is not just about the restoration of the historical glory of the great coastal urban centers. It is driven by these megacities as they serve as growth engines for the neighboring regions. It is history in the making.
Kaixin - A MUST READ! My instinct has been that China is not experiencing a 'western' economic bubble. Perhaps this supports my instinct.
Editorial - A necessary try for IMF
The appointment of Zhu Min, deputy governor of the Chinese central bank, as a special adviser to the head of the International Monetary Fund (IMF), highlights China's increasing influence in the global financial system.
With the Chinese economy taking the lead in helping lift the world out of the worst global recession in decades, it would seem natural for Chinese to give more advice to more ears from the international community.
In fact, the selection in 2008 of Justin Yifu Lin, a leading Chinese academic, as vice- president and chief economist of the World Bank, had started the export of Chinese wisdom that more and more global institutions seek.
China to introduce favorable taxation policy for rural financing
The Chinese Banking regulator says it will introduce a favorable taxation policy to increase incentives for rural financing. Banks will get support in lending to agriculture, rural residents, and countryside projects.
Zang Jingfan, Official of CBRC, said, "Banks lending small loans of less than 50 thousand yuan to rural areas will be exempted from business tax, and receive a 10 percent discount in income tax. Financial institutions established at a township level will pay three percent in business tax."
The Wall Street Journal China RealTime Report
The IMF’s press release said Mr. Zhu would play a role in “strengthening the Fund’s understanding of Asia” — which is the polite way the IMF talks about its inability to get hardly any Asian countries to turn to the IMF for help during the current economic turmoil. (Pakistan and Afghanistan are exceptions.) The IMF’s heavy-handed actions during the Asia financial of 1997 and 1998s still haunt the IMF there, though Latin America, another region where IMF animosity has run deep, is becoming IMF-friendly.
China fracturing under party's iron grip
In contrast with the powerful, assertive and united China that is being projected to the outside world, Professor Yu Jianrong says his prediction of looming internal disaster reflects on-the-ground surveys and also the views of minister-level Chinese leaders.
Kaixin – Mei’s on the ground survey in Nanning showed the opposite. She is talking to people in what you could call 'Middle China'. They definitely support their government. Yes, she said, they like to moan about the government, like in the 'west', but that does not mean they want to change it or embrace democracy. I have sent her the article and asked for her comment.
China passes defence mobilisation bill
Britain appeals to US Supreme Court as Linda Carty faces death by injection in Texas
A BLACK British grandmother who once sang for the Prince of Wales faces death by lethal injection within months in Texas unless a final appeal launched overnight can persuade the US Supreme Court that she deserves a second trial.
Linda Carty, a rape survivor who says she was framed for murder by career criminals, has been on death row in central Texas since 2002. Her hopes of clemency depend on the Supreme Court accepting her case, and with it 80 bound briefing documents submitted by British campaigners and UK government lawyers.
She now spends 23 hours a day in a cell in Gatesville, Texas, condemned to death after a trial described on Friday as “catastrophically flawed”, for a murder of which she has always proclaimed her innocence.
Experts defend China's execution of Briton
BEIJING: China has upheld the independence and integrity of its justice system, as would any other country, in the trial and execution of British drug smuggler Akmal Shaikh, say legal experts, refuting criticisms of China's human rights record and lack of clemency.
Shaikh, a 53-year-old British man, was executed by lethal injection on Tuesday in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region.
British man said to be mentally ill executed in China
Mr Shaikh's family said he had been delusional and duped into a carrying a suitcase that did not belong to him when he was found with 4kg of heroin in Urumqi, north-west China, in September 2007.
His daughter has said drug smugglers in Poland convinced him they would make him a pop star in China.
Kaixin – So, what is the difference between the U.S and China? Where are the human rights activists?
Nude Bobsleigh Competition in Germany
Kaixin – So much for a staid state run news outlet