The Lion Awakes
Daily News, Culture & Current Affairs about China
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China, Vietnam to ease tensions through talks
China and Vietnam Sunday agreed to tone down their disputes that threatened to seriously hurt their relations by conducting negotiations over the South China Sea, a sign of easing tension between the two countries.
Designed in China, eaten in the UK
Chinese Premier Wen Jiabao pointed to Sino-British manufacturing co-operation yesterday as he launched the first new MG motor model in 15 years during the British leg of a visit to Europe.
Diplomats say China and Britain are expected to announce over 1 billion pounds' (US$1.6 billion) worth of deals in a range of industries during Wen's three-day visit.
China to be biggest engine of global growth in next few years: expert
China will become the biggest engine of global economic growth in the next few years, claimed Zheng Xinli, Permanent Vice Chairman of China Center for International Economic Exchanges, on Sunday.
China, U.S. hold 1st consultations on Asia-Pacific
China and the United States held their first round of consultations on Asia-Pacific in Honolulu Saturday, which was hailed by both sides as positive and beneficial.
China, Africa Union vow to advance ties
Visiting Chinese Vice Foreign Minister Zhai Jun and African Union (AU) Commission Chairperson Jean Ping affirmed in Malabo Saturday that the two sides will expand and deepen cooperation.
Haggling over every penny no poison to Sino-Russia ties
President Hu Jintao just wrapped up his four-day official visit to Russia devoted to boosting ties and bilateral trade between the two countries. Media speculation before his Russia visit, however, mainly centered around a possible agreement on the gas project, which they believe would be a big trophy for President Hu and a timely gift dedicated to the 10th anniversary of Treaty of Good-Neighborliness and Friendly Cooperation jointly signed in 2001.
Vietnam should wake up to Danger !
Starting June 13, Vietnam first staged live-fire drills in the South China Sea amid rising tensions with China, then issued a decree specifying who would be exempt from military call-up in a time of war.
In response, China said it will not resort to the use of force to resolve maritime border disputes in the South China Sea.
Perhaps, it is due to the consciousness of the fact that as a "military underdog", Vietnam might well rally international support and garner others' sympathy that China has to be treading a little more carefully.
On the flip side, Vietnam takes the first ever preemptive move over the 32 years to infuriate China, which is not only unusual, but thought-provoking. One reason might be Vietnam, like other countries on the periphery of South China Sea, still cherishes high illusions of the U.S. helping hand, once the spat exacerbates into a war.
Clashes over South China Sea pose a test to new E Asian Structure
By Li Hongmei
South China Sea waters will be churned up if some regional countries insisted on risky ventures to address the so-called border issue. What is happening now is already inviting the global concerns--- Vietnam is using live ammunition in its war exercises in the waters of the South China Sea. Meanwhile, Philippine President Benigno Aquino's office stated it was renaming the South China Sea as the "West Philippine Sea" amid the mounting tensions with Beijing.
'shorting China' for what?
By Li Hong
At a time of global economic uncertainty which is also spreading to China, it is normal to see a host of nay-sayers and skeptics rise to diminish this country's economic prospect. Lately, we have read headlines and pundits' opinion like "cracks" emerging in the world's second largest economy, the biggest bank debt crisis in 17 years incurred by China's local governments, and a "hard landing" to serve the country better than a "soft-landing".
Experts: China's yuan will go global
BEIJING - China's timing for realizing the yuan's full convertibility into other currencies is already mature enough to facilitate yuan's internationalization, and the country will be able to liberalize currency exchange rates in three years, a leading economist said on Sunday.
See Kaixin's - YUAN REVALUATION & INTERNATIONALISATION
China sovereign fund official confident in euro
China's purchase of euros will be a long-term strategy and will not swing on short-term problems, the Hong Kong head of China's $300 billion sovereign wealth fund said on Sunday.
See Kaixin's - ECONOMIC CHINA
China steps up subsidies for the needy
BEIJING - More than half of all Chinese provincial-level regions have established a mechanism to offer subsidies to the needy as high inflation pushes up their daily living costs.
Demolitions caused the most social conflict and public discontent in Chinese society in 2010, according to a recent report published by a Beijing-based social research center.
Obama's half brother happy to live in China
US expatriate visits Beijing to promote book
BEIJING - US President Barack Obama's half brother said he hoped the Chinese version of his book will help China and the United States understand each other better.
"I hope that my book will let Chinese people know more about some aspects of American life, and on the other hand, I hope it will help those in America and other parts of the world understand China," said Mark Obama Ndesandjo, who lives in China.
Chinese premier calls for closer cooperation between Chinese, British companies
BIRMINGHAM, Britain, June 26 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday called on Chinese and British companies to strengthen cooperation to score bigger achievements.
Wen made the appeal when touring MG Motor, a subsidiary of China's Shanghai Automotive Industry Corporation, which is the first Chinese carmaker to make mass production and sales in Europe and America.
Chinese premier stresses communication, coopeartion between big powers
LONDON, June 26 (Xinhua) -- Chinese Premier Wen Jiabao said Sunday here that enhancing communication and cooperation between the world's big powers is particularly important in face of a variety of global challenges.
Chinese developers shun construction of affordable housing
BEIJING, June 26 (Xinhua) -- Most Chinese real estate developers kept their distance from repeated appeals by officials to accelerate the country's affordable housing construction that aim to rein in the runaway property market, according to a report released Sunday.
See Kaixin's - CHINA REAL ESTATE
Dangerous nationalism risks future of South China Sea
Recent disputes in the South China Sea have been focused above all on the Nansha Islands, drawing in the Chinese mainland, Taiwan, Vietnam, the Philippines, Malaysia, and Brunei and going back to the 1960s.
Kaixin OpEd - A good historical perspective
SCO hails anti-terror successes
The Shanghai Cooperation Organization (SCO) marked 10 years since its inception Wednesday during a summit in Astana, Kazakhstan, where the group outlined its future cooperation in anti-terrorism and trade, and its stance on international issues.
Keep Sea issue simple, says Beijing
China has warned against attempts to internationalize and complicate the South China Sea issue but said it will not resort to the use of force in defusing tensions.
The Wall Street Journal
China Announces Pact With Vietnam on Disputed Sea
BEIJING—China said it had reached an agreement with Vietnam to resolve a growing territorial dispute in the South China Sea, though Vietnamese officials didn't comment on the announcement and anti-Chinese demonstrations continued in Hanoi.
China Pledges Continued Support for European Debt
BUDAPEST—Chinese Premier Wen Jiabao on Saturday said China will continue to buy euro-denominated bonds to support Europe, in China's latest public endorsement of the efforts to contain a potential debt crisis in the common currency area.
See Kaixin's - ECONOMIC CHINA
China Trips Up Major Airbus Deal
BRUSSELS—China's anger with the European Union's emissions-trading scheme for airlines has delayed the revealing of a major Airbus deal and could undermine upcoming deals, according to people familiar with the situation.
See Kaixin's - GREEN CHINA
Carstens Gets Late Support For IMF Post
OTTAWA—Canada and Australia will endorse Mexico's central bank chief Agustín Carstens to head the International Monetary Fund, Canadian officials said Friday—a decision that is unlikely to tilt a race led by French finance minister Christine Lagarde.
See Kaixin's - FOLLOW THE DEBATE: The Selection of the next IMF President
China Asks Companies To Favor Local Accounting Firms
SHANGHAI—China's finance ministry has required overseas-listed local companies to give priority to domestic accounting firms when choosing auditors, citing concerns over state information security.
"Overseas-listed companies that are engaged in financial, energy, communication, military and other key industries should obtain services ...
The New York Times
China to Reduce Surplus: Wen
LONGBRIDGE, England (Reuters) - China plans to stimulate domestic demand and reduce its foreign trade surplus to encourage balanced trade growth, premier Wen Jiabao said on Sunday during the British leg of a visit to Europe.
On European Visit, Chinese Leader Offers Support
BUDAPEST, Hungary (AP) — Chinese Prime Minister Wen Jiabao on Saturday offered his country’s support for Europe as it struggles to deal with its debt crisis, saying his country had “total trust in Europe’s economic development.”
Bridge Comes to San Francisco With a Made-in-China Label
China, in its continual move up the global economic value chain — from cheap toys to jetliners — now aims to be the world’s civil engineer.
Into the Bustle of China’s Boom
Back from two years in Shanghai, a Seattle architect advises others who plan to work overseas to try living outside the expat community.
In China, a Place Where Maoism Still Reigns - VIDEO
Mingling with the party’s loyal servants in the reddest town in China.
Out of the Trade Surplus Swaddle
Extended gyrations on export orders and spiraling inflation have many economists expecting a prolonged season of continued monetary tightening controls
Is the spread of the European debt crisis and the backdrop of a weak economic recovery in the United States building up to a dramatic high-point where China's economic growth takes a piteous swoon? As policymakers continue to thumb through pages of statistics with higher inflation readings and less foreign demand, the prevailing regulatory attitude seems to be one of continued tightening.
Central Bank Confirms Yuan FDI Pilot Program
Yuan-denominated foreign direct investment has been in use since the release of a Ministry of Commerce document in March, which clarified application procedures
(Beijing) -- The People's Bank of China, the country's central bank, on June 21 said that a program for yuan-denominated foreign direct investment (FDI) on the mainland is currently in the pilot stages and related rules will be issued by the end of the year.
Closer Look: Uncertainty Clouds China-Russia Natural Gas Deal
The massive natural gas deal has stalled in part from China's faith in the allure of its domestic energy markets
(Beijing) -- Chinese President Hu Jintao ended his visit to Russia on June 21, but he failed to put the finishing touches on a deal to pump natural gas from Siberia to China over the next 30 years.
The two countries remain divided on natural gas prices.
Dieting Plan for Bloated Government Borrowers
After borrowing trillions for all sorts of projects, the credit feast may be over for local government financing platforms
(Beijing) – They come in all shapes and sizes, dishing up financial sustenance for county governments, property developments and infrastructure projects across the country.
Don't Kill This Economy Softly
By Andy Xie
A hard landing's advantage is that it spurs reform, but China can combine economic reform with a soft touch
Nothing is free. A bubble digs a hole in a country's balance sheet and covers it up with exaggerated asset prices for awhile. When it bursts, the hole is exposed. The reaction to the realization of loss triggers a recession and, if the hole is big, a deep recession or hard landing.
Dominique Strauss Kahn and the IMF
Of all failures that haunt the IMF, the one that looms largest comes from its institutional insularity
Those who hoped for serious reform of the International Monetary Fund have to be very disappointed by the allegations of sexual assault against its director, Dominique Strauss-Kahn. If the charges prove true, this will end Strauss-Kahn's efforts at reforming an institution that is badly in need of reform.
Most people around the world do not realize the power that the IMF has in controlling their lives.
See Kaixin's - FOLLOW THE DEBATE: The Selection of the next IMF President
Asia Times Online
China runs gauntlet in South China Seas
By Jian Junbo and Wu Zhong
China has remained cool in the face of Vietnamese provocations over disputed South China Sea territories, aiming to reinforce its status as a "responsible player" in international affairs. However, nationalists are interpreting this as weakness. While the backlash is for now too minor to provoke the social instability that worries the Chinese Communist Party, if it heats up, so will Beijing's response.
US-Philippines flex collective muscle
By Al Labita
The Philippines is seeking American weaponry and assurances to keep China's "gunboat diplomacy" in the South China Sea in check, protesting several "incursions". Though the United States is a valuable strategic ally, Manila's insistence on relying on Washington's influence in diplomatic discourse with Beijing has invited accusations it is acting as a US "mascot".
Vietnam's Dr Strangelove
at war with the Mandarins
By Francesco Sisci
A Vietcong veteran signals "V" for vendetta and victory in urging comrades to take up arms as China flexes regional muscle, and holds up the Philippines as a model of resistance to such bullying. However mad, the musings of this Vietnamese Dr Strangelove will give the Mandarins something to think about as they preside over China's expansion.
China's gas imports jump
By Robert M Cutler
China's gas imports in May surged nearly a third from a year earlier as the country moved closer to its goal of having gas contribute at least a tenth of its energy consumption mix by the end of the decade. China is also learning the cost of negotiating import deals that fail to account for domestic prices.
Zhu sets his record straight
By Wu Zhong, China Editor
Former Chinese premier Zhu Rongji has launched a rare attack at current housing, education and regional policy, saying that skyrocketing housing prices have been caused by Beijing's pandering to the regions, not the taxation system he introduced. While Zhu's timing suggests he is trying to influence next year's leadership contest, he's more likely just safeguarding his legacy.
Taiwan's Ma looks for F-16 boost
By Jens Kastner
Taiwan's President Ma Ying-jeou could look to a breakthrough in the United States authorizing an upgrade to his air force's F-16A/B fleet as proof that he has mastered the balancing act between the US and China. While few Taiwanese would deny striking the balance is imperative to their future, the fighter-jet deal is hardly crucial to Ma's re-election bid.
SCO steps out of Central Asia
By M K Bhadrakumar
The Shanghai Cooperation Organization's 10th anniversary summit in Astana, Kazakhstan, saw confident steps taken towards integrating the entire Eurasian landmass. While the planned induction of India and Pakistan will create a pan-regional reach that supercedes the United States' "Great Central Asia" strategy, SCO efforts to assume responsibility for post-2014 Afghanistan are a direct challenge to US plans to establish permanent military bases there.
Ambassador M K Bhadrakumar was a career diplomat in the Indian Foreign Service. His assignments included the Soviet Union, South Korea, Sri Lanka, Germany, Afghanistan, Pakistan, Uzbekistan, Kuwait and Turkey.
Kaixin - Use the Kaixin Site Engine to find more articles by Ambassador Bhadrakumar
Pomp and porn during the Qing Dynasty
Decadence Mandchoue by Sir Edmund Trelawny Backhouse
Reviewed by Kent Ewing
In an erotic romp through the twilight years of the Qing Dynasty, these memoirs recount among other trysts the Victorian Orientalist author's subservient servicing of the Empress Dowager Cixi, then 69, and adventures with the eunuchs and catamites of Peking's bathhouses. Intermingled with fantastical imperial palace intrigue, the work has faced charges of fraudulence and obscenity; this belies its charm and historical significance.
Mao's army on the attack
By Kent Ewing
Mao Zedong romanticists are so worried that the mythology of the Great Helmsman may be officially debunked they are calling for the growing band of Mao bashers to be prosecuted. The campaign is unlikely to gain official traction though: China's leaders, including Red Book-waving Chongqing party boss Bo Xilai, use Mao's words, never his policies, and only when it suits them.
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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