17th November 2011
The Lion Awakes
Daily News, Culture & Current Affairs about China
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People's Daily
Global automakers favor new energy cars in China
Beijing, Nov.17 (People's Daily Online) --In preparation for its entry into China's electric vehicle market, Honda Motors conducted its first electric car verification test in Guangzhou China, which followed similar tests recently done in the United States and Japan.
Chinese vice premier pledges green growth amid economic revamp
BEIJING, Nov. 17 (Xinhua) -- Vice Premier Li Keqiang has said that China will endeavor to strike a concordant tune between economic development and environment protection in its transformation efforts.
Australia could be caught in Sino-US cross
US President Barack Obama arrived in Australia today for a long-delayed visit. It is reported that Obama is going to announce an expanded US military presence in Australia. The move is widely seen as a renewal of the US-Australia alliance to keep China in check.
It is also interpreted as a choice made by Australia between the US and China, the two largest Asia-Pacific powers. Prime Minister Julia Gillard refuted the interpretation Tuesday, saying that "it is well and truly possible for us, in this growing region of the world, to have an ally in the US and to have deep friendships in our region, including with China."
Nevertheless, both Chinese and Australian media outlets know that this is merely diplomatic parlance. Some Australians worry that this unfriendly move will harm their country's relationship with China, its largest trade partner.
World economy headed for tailspin?
Fears continue to grow in Europe now that Greece’s debt crisis has spread to Italy.
Christine Lagarde, chief of the International Monetary Fund, said that if people do not act together in a bold way, the global economy runs the risk of a downward spiral of uncertainty, financial instability and potential collapse of global demand?
Zhong Wei, director of the Financial Research Center at Beijing Normal University, said that given the current situation, the European debt crisis will be more than twice as harmful as the U.S. subprime mortgage crisis in 2008.
China begins military drill with Pakistan
BEIJING - China kicked off a two-week joint anti-terrorism drill on Monday with its western neighbor Pakistan near Islamabad.
The exercise, dubbed "Friendship 2011", is the fourth of its kind between the two countries. A total of 260 soldiers, special forces and army aviation helicopters from the Chinese side, as well as 230 of their Pakistani counterparts, are participating in the drill, according to the Ministry of National Defense.
The two countries held their first joint anti-terrorism exercise in China's Xinjiang Uygur autonomous region in 2004. The second was carried out in Pakistan's Abbottabad in 2006, and the third took place in the Ningxia Hui autonomous region last year.
ASEAN pact introduces new era of cooperation
BEIJING - The "ASEAN Plus One" collaboration was a new chapter in global cooperation, and it was one that raised the international profile of the Association of Southeast Asian Nations (ASEAN) and its members.
Composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, ASEAN signed a free trade agreement with China that took effect in January 2010.
"After being fully implemented last year, the free trade area between China and ASEAN has brought many benefits to the latter," said Xu Ningning, executive vice secretary-general of the China-ASEAN Business Council.
China is ASEAN's biggest trading partner, and Chinese customs data show that bilateral trade rose 26.4 percent in the first nine months of 2011 to $267 billion, with an $18.9 billion surplus in favor of ASEAN.
Has power shifted eastward?
Beijing, Nov.14 (People's Daily Online) -- The website of the U.K. Guardian newspaper published an Op-Ed article on Nov. 6 saying that the G20 summit proved that power has shifted from the West to China.
The article begins by saying: "The global economy has three main pillars: the United States, the European Union and China."
China has seen the green future
HONOLULU - China will give the green industry top priority in attracting foreign investment, President Hu Jintao said.
Addressing the Asia-Pacific Economic Cooperation (APEC) forum CEO summit in Honolulu on Saturday, he said the total annual output of the Chinese environmental industry is expected to reach 2 trillion yuan ($315 billion) by 2015, and investment in the industry for the period 2011 to 2015 is expected to be worth 3.1 trillion yuan.
"Strong green demand and China's sound investment environment will provide a vast market and great investment opportunities to businesses in all countries, those in our region in particular," Hu told more than 1,000 business people in Hawaii for the annual APEC CEO summit.
Trade protectionism must be curbed
Beijing, Nov.11 (People's Daily Online) --There is a need to curb the rising tide of trade protectionism now more than ever. The recent G20 summit in Cannes has arranged a special chapter in an announcement on trade protectionism, in which it has urged its state members not to introduce new protectionist measures before 2013 in order to stimulate exports and has also asked the WTO, OCED and UNCTAD to continue to track the situation of trade protectionism and publish an interim report for every half year.
Because the U.S. and European sovereign debt crises have cast a dark shadow over the world economy, some countries are seeking to use trade protectionism as a means to transfer crisis pressure to other countries, which has boosted the risks of trade protectionism.
Curbing trade protectionism is of particular significance to China because China is the world's largest country in terms of exports value. It is also most dependent on the global trade and the greatest victim over two decades of trade protectionism in the world.
Curbing protectionism against China will benefit both the Chinese and global economies.
ASEAN pilot area to promote int'l RMB trade
Beijing, Nov.2 (PD Online) --As the first overseas pilot area of Cross-Border RMB Trade Settlement, the Association of Southeast Asian Nations, should continue to encourage and support the RMB's cross-border use in regional trade investment, said Li Lihui, president of Bank of China, at the China- ASEAN Financial Cooperation and Development Leaders Forum.
Li said that the RMB enjoys a relatively stable currency value and a higher acceptability, and it is of great significance to expand the scale and scope of RMB flow in helping regional enterprises to avoid international monetary exchange rate risk, lower assets mismatch risk, avoid multi-exchange loss and promote trade and investment facilitation.
He pointed out that as the first overseas pilot area of Cross-Border RMB trade settlement, ASEAN should continue to encourage and support RMB's cross-border use in the regional trade investment to establish a smooth cross-border flow mechanism of RMB. ASEAN should also further improve the RMB's cross-border pay channels, enrich the RMB's cross-border financing and investment products and offer a perfect, safe and quick cross-border financial service to the trade investment in the region.
$31b govt stimulus to revive railway projects
BEIJING - The Ministry of Railways is expected to get more than 200 billion yuan ($31 billion) worth of financial support to pay off the dues and avoid liquidity, after lack of cash flow brought most railway projects to a standstill.
The Sarira Stupa, literally a jewel-encrusted portable temple for transporting the crystallised ashes of Shakyamuni Buddha, was sent by India's King Asoka as a gift of Buddhism to the world. Nineteen of the holy treasures were sent to China. It is in the personal museum of billionaire Chau Chak Wing.
The Age
''There is a saying in China that collecting prevails in prosperous times, which means today is a prosperous age and our living standards have much improved, So this is definitely a good phenomenon and the government supports it.'' - said Lu Zhangshan, director-general of the National Museum of China.
China Daily
PBOC: Too soon to loosen grip on economy
BEIJING - China can't loosen inflation control because the foundation of domestic price stability is not yet strong enough, the central bank said in a quarterly report on its website on Wednesday.
Inflationary pressure might arise from "extremely loose" global monetary conditions, still robust domestic economic expansion and rising labor costs as well as a potential increase in resource product prices, though the fall in prices could accelerate if economic growth declines further, the People's Bank of China (PBOC) said.
Export outlook ebbs amid developed world woes
BEIJING - The nation's export outlook is dimming on a combination of weak demand in developed countries and rising domestic costs, according to the Ministry of Commerce.
"The export situation in the next period is not optimistic," said Shen Danyang, ministry spokesman. The foreign trade situation is "complex with many uncertainties", Shen told a news conference on Wednesday.
China may become world's biggest patent filer
BEIJING - China's patent filings have increased rapidly in recent years and the country is expected to become the world's largest filer of patents in 2011, according to a report released on Wednesday by Thomson Reuters in Beijing.
Kaixin OpEd - China is transforming its economy in many areas. One of the main transformations is from a low labour cost widget exporter, to a 'smart' economy chock-a-block with graduates and technology.
The will also be in the lead with an economy based on innovation.
New energy exports face trade barriers
BEIJING - Exports of new energy and energy-saving products will be targeted by trade barriers in developed countries, led by the United States, a commerce official warned.
To offset this, exporters will need to improve technology and their capacity for innovation to enhance competitiveness, said Zhang Yujing, president of the China Chamber of Commerce for the Import & Export of Machinery & Electronic Products.
China eyes green growth
BEIJING - Chinese Premier Wen Jiabao said in Beijing Tuesday that China will make the utmost efforts to promote green growth and curb pollution.
"Green growth focuses on energy conservation, reduced energy consumption, sustainable development and environmental protection, " Wen said during a meeting with the foreign participants of the annual meeting of the China Council for International Cooperation on Environment and Development (CCICED).
Green industries to add millions of jobs
BEIJING - Greening China's heavily polluting and energy-consuming industries will cause short-term losses but bring huge economic and social benefits in the long run, says a leading environmental think tank.
The China Council of International Cooperation on Environment and Development suggested that between now and 2015 the country should spend an estimated 5.77 trillion yuan ($909 billion) to improve energy efficiency and protect the environment.
Nudging out high polluting and energy-intensive industries could cost the country 952,100 jobs and more than 100 billion yuan in economic output by 2015, according to the council's calculations based on its methodology, but in return the country could save 1.43 trillion yuan in its energy expense, said a report by the council.
Climate of public opinion
BEIJING - The climate of public opinion will be monitored in environmental protection campaigns, according to a senior official.
Public satisfaction will be taken into account in a comprehensive system to assess the performance of local governments on environmental protection, said Bie Tao, deputy director of the policies, laws and regulations department of the Ministry of Environmental Protection.
The system will be different from that currently in operation, which focuses on whether local governments have fulfilled preset pollution reduction targets.
Zhou Shengxian, the environment minister, confirmed that the ministry is revising air quality evaluation standards, aiming to bring them in line with internationally recognized appraisal systems.
"But (reaching the international standards) will be a gradual process, and won't be achieved all at once," Zhou told a high-level conference on the environment and development on Tuesday.
Under the existing system, officials are not promoted if they miss the preset targets. Consequently, local officials concentrate on figures and are "poorly motivated" to address public concern, Bie said.
US official courts FDI from China
Despite previous blocks of business deals, Lago says no sector 'off limits'
BEIJING - Despite their previous frustrations, Chinese investors will find that the doors remain open for them in the United States, and there is potential in private sectors and the IT industry, a senior US financial official said on Wednesday.
There are no "off-limits" sectors for foreign investment in the US, though national security is still the main concern in reviewing individual cases, said Marisa Lago, assistant Treasury secretary for international markets and development, in an interview in Beijing.
Economies 'must adjust'
President tells APEC leaders that growth models have to change
HONOLULU / BEIJING - President Hu Jintao pledged on Sunday that China will boost both imports and domestic demand as the world's second-largest economy embraces a more balanced economic structure.
Hu made the remarks as he addressed Asia-Pacific Economic Cooperation (APEC) leaders who were attending a summit in Hawaii. He called on regional countries to change their growth model to better meet the challenge of a struggling global economy.
Analysts said that Hu's speech sent a clear message that China is committed to economic cooperation, both regionally and further afield.
Leaders call for open trade in region
HONOLULU - As the Asia-Pacific Economic Cooperation summit drew to a close on Sunday in Hawaii, leaders from the region pledged to promote "trade liberalization" and support clean energy.
International board is 'ready'
Foreign companies queuing up to trade stocks in Chinese market
SHANGHAI - The Shanghai Stock Exchange said it's "basically ready" to let foreign issuers sell stock, paving the way for companies from HSBC Holdings PLC to Coca-Cola Co to list in the world's second-biggest equity market.
Trading should start "as soon as possible when the time is ripe", Xu Ming, executive vice-president in charge of the international stocks board, said in an interview last Friday at the exchange. While there's no timetable, the exchange has finished work on technological and regulatory requirements, Xu said.
The trading of foreign equities will mark the biggest change for China's stock market in more than five years and add impetus to Shanghai's drive to become a global financial center by 2020. It will broaden options for the nation's 85 million individual investors who are restricted from buying shares abroad by China's capital controls, with HSBC, Coca-Cola and NYSE Euronext Inc among companies expressing interest in selling stock in Shanghai.
Expat executives pleased with pay, work, study finds
SHANGHAI - Seventy percent of senior foreign executives working in China find their pay has become more globally competitive over the last five years, and almost 90 percent intend to stay in China for more than three years, according to a survey report released by the Association of Executive Search Consultants (AESC) on Monday.
The most attractive aspect of China as a job market is its dynamic high-growth economy driven by a positive outlook, great purchasing power and a fast-paced decision-making/deal-closing culture, the survey found.
"There is an international market for high-end talents, and they flow from one country to another. Countries are fiercely competing for these people. Conditions for foreigners are dramatically improved in China," said Peter Felix, president of the AESC, a leading retained executive search consulting organization.
Meanwhile, foreigners are looking for jobs in China on the back of its strong economy. "China's economy is booming, and there is a shortage of talents," Felix said.
The survey had more than 100 respondents. Of them, 77 percent are working in China, most in leading general management roles, and are earning more than $150,000 annually.
President Hu: US woes not yuan-related
HONOLULU / BEIJING - The exchange rate did not cause structural problems in the US economy, such as the trade deficit and unemployment, President Hu Jintao said during a meeting on Saturday with US President Barack Obama.
Obama Hu ..... : )
'Bigger say for emerging markets'
HONOLULU - President Hu Jintao has called for emerging markets and developing countries to have a greater say in global economic governance.
Addressing top executives at the Asia-Pacific Economic Cooperation (APEC) forum CEO summit in Honolulu on Saturday, he said changes are taking place in global economic governance, but they are not keeping up with changes in global economics.
Emerging markets and developing countries are carrying greater weight and are playing a bigger role in global economic governance, Hu said.
"New mechanisms for global economic governance should reflect changes on the world stage," Hu said.
Singles Day Feature
11/11/11
It’s difficult to trace the origins of Nov 11, a big day in China. Because it’s a duplication of the number 11, the day is portrayed and widely accepted as guang gun jie (Singles Day). But unlike the enthusiastic celebration of singledom a la Sex and the City or Bridget Jones, China’s Singles Day includes all stages of singledom – happily single, looking for love single, and married but soon to be single again. It’s an all-inclusive special day that encompasses everyone. To celebrate, some embrace their singledom, and others want to end their single status once and for all.
It’s printed in newspapers, mentioned by television programs and radio shows, advocated by millions of websites. My cell phone keeps receiving unsolicited messages on discounts to mark the so-called Singles Day.
Essentially it’s a spending day exploited by various business organizations. Taobao, China’s largest online retail platform, reported a transaction volume of 900 million yuan during a special “Singles Day” promotion on Nov 11, 2010. More online shops have joined the promotion campaign this year as it is regarded as the Singles Day of the Century.
But it also strikes a chord among some young people who are under pressure to find partners.
If 1 is the loneliest number, singles can feel six times as forlorn today
Today, 2011-11-11 as many Chinese notate the date, bachelors in China have two more reasons to celebrate or bemoan their fate - or, rather, two more sticks.
To find out why, you'd have to know the story of Guanggun Festival. Guanggun, in Chinese, refers to an adult single, usually male and often reluctantly unattached.
Literally, it means a stick that is unvarnished or does not have any covering. As the Arabic numeral 1, looks like an erect stick, it has come to symbolize this status of unwilling celibacy.
Kaixin - For men it is a stand out even
Singles' Day sales revenue surges at Web-based retailers
SHANGHAI - Online retailers registered a sales surge on Nov 11, as a result of "Singles' Day", and experts said wider recognition of the event is likely to support the growth of online sales.
Taobao Mall, one of the largest online trading stores controlled by Alibaba Group Holding Ltd, said it had recorded some 1.15 billion yuan ($176 million) in sales revenue by 11:11 am on Nov 11 after more than 11 hours of trading.
To put that into context, the sales revenue generated by Taobao Mall on Nov 11 2010 was 936 million yuan. Taobao Mall revealed that some 3.42 million consumers flooded onto its online stores at midnight on Nov 10 and the sales revenue had reached some 100 million yuan by just 12:08 pm.
"Singles' Day is not a traditional Chinese festival, so it is mainly celebrated by young people. The online shopping model is widely accepted by the younger generation, and some of them have good purchasing power. As a result, when online stores mount promotions for Singles' Day, there will be a big surge in sales," said Wang Ningyuan, an analyst from CIC Industry Research Center.
"Unlike the Spring Festival and National Day vacations that last several days, the Singles' Day one-day promotion will tend to help people make decisions quickly, it will better support the sales growth."
See Kaixins - Singles Day Feature in Marriage in China: Ancient & Modern (Scroll Down)
$3m bid wins 1st island sale
Yang Weihua, general manager of Ningbo Gaobao Investment, makes the winning bid for the right to lease Dayangyu Island, which lies off the coast of Ningbo, Zhejiang province.
NINGBO, Zhejiang - Da-yangyu, the first island ever to be put up for auction in China, sold for 20 million yuan ($3.15 million) on Friday.
Ningbo Gaobao Investment, which deals in real estate and tourism development, won a three-way bidding war for the right to use the land for 50 years and build a luxury resort.
"I think 20 million yuan is a reasonable price," said Yang Weihua, general manager of Ningbo Gaobao. "It has rich natural resources, especially in vegetation and seafood, and it's a great spot for sailing on the big, blue sea."
She said her company will invest about 500 million yuan into the project, but declined to reveal more details.
Deng's great legacy
A Western scholar writes on the life and times of the man who helped transform China
In 2000, the China scholar Ezra Vogel was thinking about writing a book to help Americans understand key developments in Asia when he was about to retire from teaching at Harvard University. When his friend Don Oberdorfer, a veteran journalist, suggested he should write about the Chinese leader Deng Xiaoping, Vogel thought about it for many weeks, and concluded that the idea was exactly right.
For the past 10 years, Vogel has researched Deng extensively. He has read books about him, traveled to China numerous times and interviewed hundreds of influential Chinese and foreigners, as he mentions in the preface of his new book, Deng Xiaoping and the Transformation of China.
The book, published by Harvard University Press last month, chronicles Deng's rich and intricate life and career from his birth on Aug 22, 1904 in a weakened Qing Dynasty (1644-1911) to his death on Feb 19, 1997, a few months before the return of Hong Kong to the motherland. That time span also takes in the country's turmoil and an economic boom in the last three decades.
OK, brave guy, you go first
CHANGSHA / BEIJING - Jutting out from a sheer cliff 1,430 meters high, the glass skywalk in Zhangjiajie National Forest Park makes mice of men.
"My girlfriend blamed me for not acting bravely," said a man from Shandong province, who refused to give his name because he was ashamed of not having the guts to walk across the see-through walkway.
"I will challenge the road next time, when I'm ready for the height, and then I will shout my name out loud."
The glass skywalk spans 60 meters of a 2-km loop encircling the vertical cliffs of Tianmen Mountain in Hunan province, a UNESCO World Heritage Site.
"Tourists can walk, run or even jump on the walkway as the fence and planks are all tempered glass," said Tian Huilin, deputy general manager at the tourism office of the Tianmen Mountain Scenic Spot.
China's Top 10 Leisure Spots
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XinHua News
19th ASEAN summit kicks off in Bali, Indonesia
BALI, Indonesia, Nov. 17 (Xinhua) -- The 19th Association of Southeast Asian Nations (ASEAN) Summit kicked off here on Thursday, gathering heads of state or government from 10 ASEAN member states.
Nature reserve determined for major riverheads ecology
BEIJING, Nov. 16 (Xinhua) -- The Chinese cabinet determined Wednesday a national nature reserve for headwaters of three major rivers in China, setting a target of vegetation coverage growth at 30 percent in a decade.
China issues white paper on poverty reduction in rural areas
BEIJING, Nov. 16 (Xinhua) -- The Chinese government on Wednesday unveiled a white paper on its poverty reduction efforts in the past decade, highlighting achievements and challenge for China to bring common prosperity to its more than 1.3 billion people.
The white paper, titled New Progress in Development-oriented Poverty Reduction Program for Rural China, was released by the State Council Information Office.
The white paper introduces China's policies, achievements, special programs, social involvement and international cooperation in the fight against poverty.
It was the Chinese government's second white paper on poverty reduction after it issued the first edition of such document in 2001.
The white paper says the mission to reduce poverty is particularly difficult in China given the size of the poor population in its rural areas.
According to the white paper, China's poverty-stricken rural population fell from 94.22 million at the end of 2000 to 26.88 million at the end of 2010, an equivalent to lifting the entire population of France out of poverty in the past decade.
The proportion of poor people in the country's rural population decreased from 10.2 percent in 2000 to 2.8 percent in 2010.
The Chinese government defines those who earn less than 1,274 yuan (about 200 U.S. dollars) in income a year as "poor people" after the nation raised the national poverty line for rural residents from 865 yuan in 2000 to 1,274 yuan in 2010.
China has basically solved the problem of providing adequate subsistence, food and clothing for its rural residents, the 36-page white paper declares.
Kaixin OpEd – Before 1949 many people died from hunger and just grinding poverty in the rural areas of China.
Then along came Mao who changed the system completely and had, basically, noble ideals founded in Marxism. However he was not the ideal ruler and things became a bit fraught until he popped off in 1976.
Deng Xiaoping set in place the political structure to harness the huge potential of the Chinese people and used capitalism to put China on the path to becomes and economic power.
This century will see the culmination of those 50 years.
50 years being just a blink for a Dragon, or a sleeping Lion.
One of the great achievements has been the elimination of starvation and a huge increase in the standard of living and education for China’s rural population.
The focus of Beijing is to build on that and unleash the economic potential of rural China.
All the economic growth to date has come from the major cities in China.
The potential of rural China is largely untapped.
So this initiative is serious ….. watch this space.
China's financial system sound: IMF
WASHINGTON, Nov. 14 (Xinhua) -- The International Monetary Fund (IMF) said Monday that China's financial system is sound and has achieved remarkable progress.
"China has made remarkable progress in its transition toward a more commercially-oriented and financially sound system," the organization said in its first Financial Sector Assessment Program (FSAP) review of China, which was carried out jointly with the World Bank.
APEC committed to building seamless regional economy
HONOLULU, United States, Nov. 13 (Xinhua) -- Leaders of the Asia-Pacific Economic Cooperation (APEC) forum said here Sunday that they are committed to building a seamless regional economy through joint efforts.
"In APEC this year, we have committed to taking concrete steps toward a seamless regional economy, in order to link our economies and markets ever closer together, to the benefit of all," said "The Honolulu Declaration -- Toward a Seamless Regional Economy," which was posted on APEC's official website.
"We meet at a time of uncertainty for the global economy. Growth and job creation have weakened in many economies, and significant downside risks remain, including those arising from the financial challenges in Europe and a succession of natural disasters in our region," the document said.
The declaration added these challenges have only strengthened member economies' commitment to cooperation as the way forward. "Building on the Yokohama Vision, we firmly resolve to support the strong, sustained, and balanced growth of the regional and global economy," the statement said.
Leaders of the 21-member APEC said that they have recognized that further trade liberalization is essential to achieving a sustainable global recovery in the aftermath of the global recession of 2008-2009.
The member economies have deep concerns regarding the impasse confronting the Doha Development Agenda (DDA), and the reality is that a conclusion of all elements of the Doha agenda is unlikely in the near future, the statement said.
Experts: Cooling inflation leaves room for policy adjustments
BEIJING, Nov. 14 (Xinhuanet) – In line with market expectations, China's consumer prices increased 5.5 percent in October from a year earlier, registering the slowest pace in five months as the result of falling food prices and accumulated effects of tightening monetary policies.
China's stealth fighter J-20 conducts test flight - SLIDESHOW
Uninhabited Chinese island auctioned off to high-end developer
NINGBO, Nov. 11 (Xinhua) -- The land use rights of an uninhabited island off China's east coast were auctioned off Friday to a developer eyeing yacht recreation, in the first such case after China encouraged businessmen to occupy and develop remote islands in its territorial waters.
The auctioned island, Dayangyu, is located 300 meters off the coast of Ningbo city, Zhejiang province, with an area of 0.258 square km and a coastline of about 3,000 km.
Ningbo Gaobao Investment Co. Ltd. won the land use rights of Dayangyu for 50 years with an offer of 20 million yuan (3.2 million U.S. dollars).
In China, land is owned by the state. Individuals and businesses can only acquire the rights to use the land.
"Our company plans to invest 500 million yuan to develop the island," said Yang Weihua, Ningbo Gaobao's manager. "We are going to turn the island into a high-end tourism and recreation destination with a focus on yachting."
Among the 176 uninhabited islets in China, Dayangyu Islet in Ningbo’s Xiangshan County releases the first auction announcement to transfer the right of use. The auction will be held in the Ningbo Shangri-La Hotel on 10th Nov.
In addtion, the exploitation plan of DanMenShan Islet plan has been approved. It is the first approved exploitation plan of an uninhabited island since the implement of the “Island Protection Law”.
The premise of exploitation is to protect the ecology of the islet, which will be used for entertainment.
Besides, many protective regulations have been announced. Permanent buildings are forbidden on the beach, and no barbecues are allowed on the beach too.
China's Three Gorges hits full capacity
YICHANG, Oct. 30 (Xinhua) -- China's Three Gorges Dam on Sunday reached its designed highest mark, the second time for the world's largest water control and hydropower project to run at full capacity.
The water level hit 175 meters at 5 p.m. after storing water for nearly two months from the water level of 152 meters, said an official with the China Three Gorges Project Corporation (CTGPC), the developer of the project.
A dozen hydropower turbo-generator units started operation on Sunday, generating power capacity of 8.2 million kw, said the official.
Oct. 31 - Nov. 6
The continued tightening measures of the government and the poor autumn sales volume have forced developers to drop housing prices nationwide, which indicates that the market is moving closer to a turning point.
Global Times
Beijing questions US military boost in Australia
Beijing Wednesday questioned Washington's decision to expand its military presence in Australia, with analysts warning that the US is seeking to box China in with military bases and is flexing its muscles over the South China Sea issue.
"It may not be appropriate to intensify and expand military alliances at a time when the economy is still recovering. The move may not be in the interest of countries in the region," said Liu Weimin, a spokesman of China's Ministry of Foreign Affairs.
Liu was responding to questions regarding a joint statement made by US President Barack Obama and Australian Prime Minister Julia Gillard Wednesday on stationing a 2,500-strong US Marine Air-Ground Task Force by 2016 in Darwin.
"The US has repeatedly said it has no intention to constrain China, and has expressed its support of a strong, prosperous and stable China. We hope the US will fulfill its pledges," Liu said.
According to Obama, deepened military relations with Australia would "meet the demands of a lot of partners in the region that we have the presence that's necessary to maintain the security architecture in the region."
China model can absorb best of the West, discard rest
In the global climate of economic crisis, from Japan to the US, from Greece to the whole of the EU region, economic growth is something people are longing for, and so is political stability. As the EU countries are stressing out about the possible spread of the "Greek Spring," the collapse of the EU even seems possible. In the meantime, China has been moving steadily towards further economic success. It can be expected it is just a matter of time until the "China model" will be closely examined in the international political sphere.
However, there is a fair amount of debate on this in China itself. Those who are finicky about the phrase "China model" worry that the static connotation of the word "model" will give the impression that the Chinese way is something rigid and stagnant, and this fixed system of operation is something inorganic and exportable, which is far from the truth.
US rule may crumple under its own weight
Public opinion in the US concerns every detail of the Obama administration's China policy, including its "tough" stance that has seemingly become political mainstream.
In fact, a deliberately "tough" US is unnecessary since China has never doubted the country's power. Instead, it is Americans and Europeans that seem to believe more in the decline of the US.
The national strength of the US will remain first and foremost for a long time. However, this has led to over-confidence since the Cold War. Some in the US have forgotten that no empire lasts forever, and believe that superior firepower, a strong economy and unmatched soft power will lead to perpetual dominance status. US never express the intention to "rule the world," but its desire to be the world leader is obvious. US public opinion cannot bear any small country going against Washington's will. The stronger it becomes, the more obscure the line between "leading the world" and "ruling the world" becomes.
A worry that the US will lose its global position has resulted from the country's current crisis.
AirSea Battle plan renews old hostility
The Wall Street Journal reported Friday that the Pentagon is preparing to announce a controversial AirSea Battle concept. This is a roadmap that could serve as a counter to China's "anti-access" capabilities, which include a nascent anti-ship ballistic missile that could hold the US Navy at bay during a regional conflict.
Govt to bankroll pension and medicare in Tibetan temples
Tibetan officials pledged to consolidate the social welfare of the monks in Tibet and to promote the legalization and normalization of monastery management, as a move to boost national unity along with regional development and stability, according to Chen Quanguo, the Committee Secretary of the Communist Party of China (CPC) of the Tibet Autonomous Region (TAR), at the eighth Party congress of the TAR on Saturday.
"The establishment of harmonious model temples is encouraged in the Tibet Autonomous Region (TAR) and patriotic law-abiding monks will be praised," Chen said.
US should be paying bills, not funding soldiers
US President Barack Obama's recent announcement of a withdrawal from Iraq, coupled with talk of serious cuts in the US defense budget, tempts observers to hope that the US may finally break its addiction to runaway defense spending and tackle its massive debt. Such hopes were dispelled by US Defense Secretary Leon Panetta's recently concluded trip to East Asia.
...
If the US ultimately falls from its perch as the world's most powerful nation, it will not be because it failed to spend enough on its military, it will be, as was the case with the Soviet Union and the British Empire, because it could no longer pay its bills.
CHINA
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11th November 2011
The Wall Street Journal
Huntsman Takes Jabs at GOP Rivals for Anti-China ‘Pandering’
Jon Huntsman Jr., former Utah governor and former ambassador to China, criticized the anti-China “pandering” by his Republican presidential rivals on Monday, warning U.S. policymakers against “impetuous” steps that could poison the economic relationship between the two powers.
China Resists Sea Discussion at Summit
By JEREMY PAGE
BEIJING—China made clear it doesn't want to discuss simmering territorial disputes in the South China Sea during this week's East Asia summit —the first to be attended by a U.S. president—on the Indonesian island of Bali.
Wenzhou: Financing in the Shadows
As workers stretch long lengths of leather behind her, a small-time Wenzhou shoemaker explains the trap her company is in with nonbank borrowing.
Analysts worry China’s recent explosion in informal credit – money lent privately, not through banks – raises potential threats to the country’s overall financial system.
Wenzhou's 'Annus Horribilis' Shakes China
Model of Entrepreneurial Zeal Unravels in City of Shoemakers, Nouveaux Riches; Indebted Factory Bosses Flee
By JAMES T. AREDDY
WENZHOU, China—The mystique of Wenzhou—the birthplace of China's private sector, where entrepreneurs have splurged on Bentleys and helicopters—is cracking.
As Polls Shift, Taiwan President’s Campaign Chief Goes on the Defensive
In an election, you know a campaign is on its back foot when it produces speeches that focus more on what political opponents are saying than on promoting its own platform.
Apple Gets Some Praise in China on Environment
BY OWEN FLETCHER
BEIJING—Chinese environmental leaders offered cautious praise for Apple Inc.'s attempts to meet their concerns, commending its efforts to increase scrutiny of suppliers but criticizing the computer company for what they said was a continued lack of adequate transparency.
Putin Gets Love From China ‘Peace Prize’ Group, But Not From China News Sites
Add in his proven willingness to stand with Beijing against the “Western” powers in the U.N. Security Council and it’s no wonder that Mr. Putin gets glowing coverage in China even during routine visits.
Yet despite all that, the operators of two of China’s biggest news portals appear to have had second thoughts about trumpeting Mr. Putin’s latest accomplishment: winning the Confucius Peace Prize, China’s homegrown alternative to the Nobel Peace Prize.
Asia Today: Private-Equity Firms See Bright Spot in Asia - VIDEO
Top private equity firms such as KKR, TPG, J.C. Flowers and Oaktree, converge in Hong Kong in search of deals and capital. WSJ's Alison Tudor discusses with Joseph Ferrigno, Managing Partner of AMCG Partners, direct investment firm based in Hong Kong.
Big Relief For China's Small Banks
By TOM ORLIK
Is the People's Bank of China providing some relief for cash-strapped smaller banks?
So much happens under the surface that it is difficult to say for sure. But there are tantalizing suggestions that the answer is yes.
J.P. Morgan Backs Loan Guarantor in China
BEIJING—J.P. Morgan Chase & Co. is investing about $200 million to help set up a financial company that will guarantee loans to small Chinese firms, an area of China's economy that has traditionally struggled to get access to credit from the country's banks.
Amazon 'Primes' Pump for Loyalty 
As Amazon.com Inc. battles traditional retailers such as Wal-Mart Stores Inc. and digital rivals like Apple Inc.'s iTunes store, the company is raising its bet on its Amazon Prime customer-loyalty program.
Big Names in U.S. Culture Take ‘Class Trip’ to China
When policy debates grind to a halt, throw a party instead?
That, in essence, is the thinking behind a star-studded – and intriguingly scattered – cultural forum that brings the likes of organic-food advocate Alice Waters, filmmaker Joel Coen and cellist Yo Yo Ma to Beijing this week.
China's Recalled Bullet Trains to Resume Service
BEIJING—China will put back into service 54 bullet trains recalled over safety concerns in the wake of a deadly July collision following "modifications and repeated tests," according to state-run media.
Obama Seeks New Pacific Influence
President Says 'We Are Here to Stay' at Start of East Asia Trip, but Beijing Challenges U.S. Role as Dominant Power
HONOLULU—President Barack Obama plunged into a long-awaited and high-stakes mission to re-establish U.S. leadership in the Pacific but is bumping into the expanding influence of China at every turn.
Framework Is Set For New Trade Bloc
HONOLULU—President Barack Obama's biggest economic achievement as host of Asian-Pacific leaders over the weekend was to reach the basic framework for a modestly sized free-trade bloc that nonetheless could serve as a major counterweight to China's rising power in the region.
Japan's Free-Trade Move Criticized
HONOLULU—Japan's prime minister hoped for praise at the weekend summit of Asian-Pacific leaders here for his bold pledge to join a U.S.-led free-trade pact—but his government instead got into a tangle with the Obama administration over just how far he had promised to go, and drew skepticism abroad and at home about the gesture.
Hu Resists Obama's Yuan Pressure
HONOLULU—Chinese President Hu Jintao defended his nation's stance on foreign-exchange policy when pressed by U.S. President Barack Obama during a meeting of Asia-Pacific leaders in Hawaii over the weekend, underscoring differences between the world's two largest economies in a time of uncertainty over the global economy and worries over Europe's debt crisis.
More China Land Auctions Failing
SHANGHAI--More land auctions in Chinese cities are falling through, and transaction prices have declined, the Xinhua News Agency reported Monday, citing recent auctions in cities such as Jinan, Nanjing and Chengdu.
Amy Tan Q&A: China Then and Now, and How to Bridge the Gap
Novelist Amy Tan has spent most of her life examining the divide between China and America through novels that examine the emotional minefields of families and the clashes that come from cultural misunderstandings.
Photos: Liu Bolin, Vanishing Artist
See Kaixin's FEATURE on Liu Bolin with plenty of Photos
A foreign target is needed to shift domestic attention away from the frail US economy. The RMB definitely fills this need. However, a funny fact is that the RMB has risen by about 30 percent in five years while the US unemployment rate has increased from 7 percent to 14 percent.
No need to sweat over Senate yuan bill - Global Times
Debate on Yuan Manipulation Moves to WTO
The World Trade Organization in the coming months will examine whether international trade rules can be used to punish governments that manipulate the value of their currencies, a debate driven by Brazilian anger over China's policy of keeping the yuan pegged to the U.S. dollar.
The review opens a new front in the debate over China's dollar peg ...
Hu Resists Obama's Yuan Pressure
HONOLULU—Chinese President Hu Jintao defended his nation's stance on foreign-exchange policy when pressed by U.S. President Barack Obama during a meeting of Asia-Pacific leaders in Hawaii over the weekend, underscoring differences between the world's two largest economies in a time of uncertainty over the global economy and worries over Europe's debt crisis.
Pressure Increases Over Yuan
Summit Comes as U.S. Clamors to Keep Currency Rising, but Cooling China Economy Makes Case Harder
China's slowing economy makes Beijing more likely to step on the brakes on the yuan's rise, just as U.S. President Barack Obama is to meet with Chinese President Hu Jintao under pressure to convince his counterpart to pick up the pace.
Dual Exchange-Rate Regime For China? An Historical View
Is China going back to a dual exchange-rate system?
That’s the way it’s been looking of late with the renminbi trading at a discount in Hong Kong to the mainland rate.
Another Reason Not To Expect the Yuan To Rise Faster
While the U.S. figures it scored a victory in the recent Group-of-20 communique when it won a commitment by China for “greater exchange rate flexibility,” don’t assume that Beijing plans to speed up the appreciation of the yuan any time soon.
A big reason why is contained in a new paper by economists Risheng Mao of the Chinese Academy of Social Sciences and John Whalley of the University of Western Ontario.
Yuan Falls to Bottom of Trading Band Against Dollar
SHANGHAI—The People's Bank of China set its yuan fixing rate against the dollar at an all-time high Wednesday, but the Chinese currency fell to the bottom of its trading band during the session for the second time this week.
Bank of China's Hong Kong Unit to Remain Sole Yuan-Clearing Bank
Bank of China Ltd.'s Hong Kong unit will retain its coveted position as the city's sole yuan-clearing bank, a person familiar with the situation said Monday, ending hopes for other lenders seeking clearing status in a move that reflects Beijing's cautiousness over the scope of the internationalization of the country's currency.
China Calls Rapid Yuan Rise Impossible
Unusually Strong Wording Signals Beijing May Put Brakes on Currency as Growth Concerns Edge Out Inflation
BEIJING—China said that rapid yuan appreciation in the near term is out of the question as it would harm China's economic growth, in one of the strongest responses yet to U.S. pressure for a faster rise in the currency.
Paulson: U.S. Should Think Twice About Forcing Yuan Issue
China should embrace a faster appreciation of its currency but U.S. policy makers should be wary of taking punitive actions to force the issue, former U.S. Treasury Secretary Henry Paulson said Tuesday.
Getting Tough With China (the Right Way)
Hold Beijing's feet to the fire over its slide back into mercantilism.
So it appears that U.S. House Speaker John Boehner may be able to sideline Senate legislation to punish China for its supposed currency manipulation. House Democrats are pressing for a vote, but Mr. Boehner deserves credit for resisting this pressure despite President Obama's lack of help and GOP Presidential candidate Mitt Romney's call for anti-China tariffs.
Chamber of Commerce CEO: China Currency Bill Invites Retaliation
The head of the U.S. Chamber of Commerce warned Monday that China would retaliate by slashing prices or through other means if U.S. lawmakers press forward with legislation targeting Beijing’s management of its currency.
Wen Says China to Keep Yuan Basically Stable
SHANGHAI—Chinese Premier Wen Jiabao said China will keep the yuan basically stable to avoid hurting exporters, in the highest-level statement yet from Beijing on its currency policy since the U.S. Senate approved a bill that would take China to task over the issue.
Getting Kabbalistic with the Yuan Exchange Rate
And maybe there was a subtle joke in there, too. Sharp-eyed traders noticed the pronunciation of the numbers in Thursday’s rate — 6.3737 (liudian sanqisanqi) yuan to the U.S. dollar – sounds in Chinese like 有点生气生气 (youdian shengqishengqi), or “a little bit angry.”
Let’s hope tomorrow’s parity isn’t 6.7474, which in Chinese sounds like “go die, go die!”
Kaixin - They are right ...... : )
Chinese Bashing is All the Rage — But No Antidote
Let’s all blame China.
The latest episode of U.S. China-bashing is a Senate measure that would call on the White House to impose unilateral and broad-based tariffs against countries with “misaligned” currencies.
Why China Has the Upper Hand With U.S. Business - VIDEO
Watching China bully Wal-Mart this week is an embarrassing reminder of a simple fact: China, the world's fastest growing major market, has the upper hand with U.S. business. John Bussey explains on The News Hub.
Asia Today: China Bites Back at U.S.- VIDEO
Asia Today: China and the U.S. remain at odds over China’s control of the yuan. The WSJ’s Mariko Sanchanta, Ken Brown and Alex Frangos discuss.
China Seeks to Lower Yuan as U.S. Bill Advances
BEIJING—In a defiant response to U.S. Senate approval of a bill that would pressure China to let its currency rise faster, the nation's central bank set the guideposts for the yuan substantially lower on Wednesday and warned that the bill could imperil further currency reform.
But the Chinese currency ended higher in Wednesday trading as investors took it higher within its tight trading range, underscoring skepticism that the bill will become law, and taking into account the pressures that are pushing Beijing to let the yuan rise.
The People's Bank of China, which tightly controls the yuan's trading on the ...
Fast Enough? China’s Currency Record
Beijing doesn’t deny that it stage manages the yuan’s rise and says that some day it will let the yuan float — though it never says exactly when. Still, the yuan’s rise doesn’t seem as far out of whack as complaints would have it.
The Kind of Chinese Currency Manipulation the U.S. Likes
In recent days, the Chinese central bank has been intervening in currency markets to drive up the value of the yuan against the dollar while other currencies have been falling against the dollar. This is the kind of currency “manipulation,” that the U.S. Treasury likes — and has taken note of privately. But it’s wary of patting the Chinese on the back. That’s because the only safe political position in Washington on Chinese currency issues is that Beijing isn’t doing enough.
Leaders Step Up Pressure on China
U.S. leaders took swipes at China on Thursday, as the Senate voted to advance a bill to penalize countries said to be manipulating their currencies and President Barack Obama accused the country of manipulating the yuan.
U.S. Intensifies Criticism of China's Yuan Policy
WASHINGTON—U.S. criticism against China swelled in Washington on Thursday as sharp words from President Barack Obama and a Senate vote on a currency measure illustrated how Beijing's policies are emerging as an issue in next year's elections.
Mr. Obama, at a White House news conference, accused China of manipulating the yuan and taking other actions to bolster its growth at the expense of the rest of the world.
Not the Time for the U.S. to Slam China
By Nicholas Hastings
China may well be right this time.
Calls by the U.S. for Beijing to speed up appreciation of the yuan are not the solution.
In fact, slowing growth in the world’s second largest economy as the global recovery continues to falter could well make matters worse.
The trouble is the U.S. is getting desperate.
Boehner on China Bill: ‘A Dangerous Thing’
China may have a friend in the U.S. Congress after all.
House Speaker John Boehner on Tuesday said it was “dangerous” for lawmakers to pass legislation aimed at addressing concerns about China’s currency, saying it goes well beyond Congress’s responsibilities.
Senate Moves to Punish China for Yuan's Low Value
WASHINGTON—The Senate voted Monday to move ahead with a bill that would punish China for keeping the value of its currency low, a measure that lets lawmakers deflect some of the blame for the sour U.S. economy on another country.
Guest Contribution: How to Value a Currency
Arvind Subramanian
With the Senate about to take up legislation to penalize China for “manipulating” its currency and keeping it artificially undervalued, we asked Peterson Institute of International Economics economist Arvind Subramanian to explain how calculations of under- and overvaluation are made. Mr. Subramanian is the author of a new book on China’s economic future, “Eclipse: Living in the Shadow of China’s Economic Dominance.” In recent Congressional testimony, he said China’s currency was about 15% undervalued, citing work by two colleagues at PIIE.
The U.S. Politics of Dealing With China
Next week is bash-China week in Washington. Some politicians are taking up two-by-fours; others are trying to dance around the issue.
The New York Times
Eyeing China, U.S. Expands Military Ties to Australia
CANBERRA, Australia — President Obama and Prime Minister Julia Gillard of Australia announced plans on Wednesday for a sustained new American military presence in Australia, a deployment of 2,500 troops aimed at signaling that the United States intends to counterbalance a rising China.
ABC News (Australian Broadcasting Commission)
No better friend - VIDEO
Nick Dole looks back over the 'special relationship' between Australia and the US.
I.M.F. Warns China on State Control of Banking
The I.M.F. advised Beijing to adopt a more market-oriented approach to banking and finance or risk damping economic growth.
U.S. Sees China Everywhere As It Shifts Attention to Asia
The United States plans to use Darwin, Australia, as a new center of military operations in Asia, as it seeks to reassert itself in the region in the face of China’s rise.
Philippines Navigates Rocky Relations With China
As China’s growing assertiveness in the region unnerves its neighbors, the Philippines walks a fine line between accommodation and bellicosity.
Ai Weiwei Posts $1.3 Million to Seek Tax Bill Review in China
Ai Weiwei on Tuesday posted the equivalent of $1.3 million with Chinese tax authorities in an effort to contest allegations of tax fraud that he says are politically motivated.
Vladimir V. Putin Wins Confucius Peace Prize in China
The Chinese committee that awarded this year’s Confucius Peace Prize minced no words in honoring Vladimir V. Putin. It praised his decision to go to war in Chechnya in 1999.
In China, Car Brands Evoke an Unexpected Set of Stereotypes
Car companies are grappling with an alternate universe of brand associations in China, where Buicks are status symbols and a Mercedes-Benz is the domain of the retiree.
Obama Sees an Opening on China Trade
President Obama promised to continue “a frank dialogue” on economic disputes with China as he met with its president, Hu Jintao, on the sidelines of a trade summit in Honolulu.
A New Era of Gunboat Diplomacy
Recently discovered offshore energy reserves are spurring efforts to dominate the sea.
China Dam Didn’t Worsen Climate Change, Study Says
A Chinese report found that the environmental impact from the Three Gorges Dam was limited, despite concerns the dam contributed to a dire drought this year.
Science Over Art in Chinese Branding
BEIJING — Western companies adapting brands to China, where names have especially deep significance, can’t just evoke the original meaning.
Chinese, but Not Their Leaders, Take to Ambassador Gary Locke
Gary Locke’s Chinese roots and unpretentious style have fascinated people in the streets.
Caixin Online
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- Reviving loose monetary policy would reward speculators and redundant property developers while stoking inflation
- 【Caixin Summit】Wu Jinglian: Top-Down Institutional Design Inefficient
- Often called China's most famous economist, Wu Jinglian said researchers and local-level officials should guide central government reforms
- 【Caixin Summit】Zhang Lifan: Public Education Fails to Promote Civic Values
- Zhang Lifan said China's education policies impede the development of creativity and civic engagement
- 【Caixin Summit】VisionGain: Institutional Investors Drive Development in Capital Markets
- Ye Xiang, managing director of the consultancy VisionGain Capital Ltd., said the participation of institutional investors will be a key driver in the diversification of China's capital markets
- 【Caixin Summit】Wu Jinglian: Top-Down Institutional Design Inefficient
- Often called China's most famous economist, Wu Jinglian said researchers and local-level officials should guide central government reforms
- 【Caixin Summit】Zhang Lifan: Public Education Fails to Promote Civic Values
- Zhang Lifan said China's education policies impede the development of creativity and civic engagement
- Help Europe, Help Thyself
- Speaking with Caixin in Beijing, the IMF's Christine Lagarde said China can help Europe – its indebted trading partner – by relaxing monetary policy
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- China's resounding economic success has turned Latin America’s attention toward a story waiting to be told
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- 【Caixin Summit】 Wu Jinglian: China Needs Market Economy
- Economist Wu Jinglian said policies that would enable China's transition from a state capitalist economy to a market economy failed on poor implementation
- 【Caixin Summit】Former Top Banking Regulator Calls for Tougher Banking Oversight
- Liu Mingkang, former head of the CBRC, said the global economy remains at risk from lax regulatory oversight
- 【Caixin Summit】China in Need of Industrial Structure Overhaul
- A top-level party advisor on the economy said the largest obstacle China faces is industrial upgrades
- 【Caixin Summit】Economist Urges Government to Improve Fiscal Discipline
- The scholar argued that the subprime mortgage crisis in the United States and sovereign debt problems in Europe have resulted from loose fiscal discipline
IMF's Lagarde: China Could Stem Spread of Euro Crisis
In an interview with Caixin, IMF Chief Christine Lagarde said actions China takes to ease the European debt crisis could also benefit itself
(Beijing) -- Amidst fears of a global recession fueled by the European sovereign debt crisis, Christine Lagarde, head of the International Monetary Fund, said China's involvement in policies to ease turmoil in the eurozone would benefit both sides.
Not Too Late for Fujian's Tulou Buildings
The 400-year-old Chengqi clan home in Fujian Province's Yongding County is known as the "king of earthen Hakka buildings." Known locally as ‘tulou,’ it received World Cultural Heritage status from the United Nation’s World Heritage Centre in 2008.
Asia Times Online
A thee-way waltz in Honolulu
By M K Bhadrakumar
United States President Barack Obama and his Russian counterpart Dmitry Medvedev were on first name terms at the weekend's Asia-Pacific Economic Cooperation summit in Honolulu, even though nothing particularly is happening between their countries to justify the bonhomie. Chinese President Hu Jintao, though, remains very much "Mr President", indicative of the strains between Washington and Beijing.
China feeds rumor mill with media curbs
By Yvonne Su
BEIJING - The Chinese government this week issuing new orders aimed at curbing online rumors that spread too quickly through Twitter-like micro-blogs for the authorities to censor, such as the false reports in July of former leader Jiang Zemin's death.
New media laws that ban China's reporters from using unverified information from the Internet are targeted at rapidly spread online "rumors" that Beijing says could destabilize society, such as false reports of the death of a leader. However, censoring micro-blogs just helps rumors go viral - whether they are true or not - and history suggests that hard facts ispel lies better than manipulation.
Hindu art of double hedging against China
By M K Bhadrakumar
The discovery that an unsolicited United States offer to sell India F-35 Joint Strike Fighters was prompted by financial concerns, not "high regard", is a sign of the economic times. India's increasing assertiveness in the Asia-Pacific appears misguided amid the apparent US decline, but Delhi will gain if China's resultant angst translates into conciliatory gestures on other geopolitical fronts.
China's richest keep firm eye on exit door
By Olivia Chung
China's wealthiest citizens, having profited from the maxim that "to get rich is glorious" are now following another, more personal, guideline - "get rich, then get out". An estimated 60% of those deemed rich in China are planning to emigrate, with the United States their favorite destination.
Kaixin - But they won't like it .
The generation who have made their money all remember the bad old days. They lived under the whim of tyranny. Yet most who move overseas do not like it and many return to China.
Life in China is good, particularly if you are rich.
If there is a major international conflict, it will probably be the U.S of A. So where to then Josephine?
The communist party of today is not the same as the communist party under Mao.
Still, with Mao's memory hauntign them, they want a get out of jail free card, just in case. They certainly do not want their children to live through times like those.
BOOK REVIEW
US-China power imbalance threatens Asia
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
Reviewed by Benjamin A Shobert
A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia by Aaron L Friedberg
While arguing that a stark evaluation of Beijing's military strategy proves the United States has been overly optimistic in believing economic engagement would foster democracy, this book makes no alarmist predictions of China pursuing global hegemony. However, to alter deep-seated patterns of power politics drawing the countries toward conflict, the US needs to rebalance its China relationship by urgently addressing its own economic and political dysfunctions.
INTERVIEW
Eagle and dragon lock claws in mid-flight
Benjamin A Shobert talks to Aaron L Friedberg, the author of A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia
America's focus on the emerging challenge posed by China was first distracted by the "war on terror" and then the 2008 financial crisis, says author Aaron L Friedberg. In the meantime, Beijing advanced economically, developed asymmetric capabilities and grew assertive. China may not want to conquer Asia. However, it could extend a preponderant political influence over the region with dire consequences for the US.
THE ROVING EYE
An extreme traveler, Pepe's nose for news has taken him to all parts of the Pepe Escobar globe. He was in Afghanistan and interviewed the military leader of the anti-Taliban Northern Alliance, Ahmad Shah Masoud, a couple of weeks before his assassination
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