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Rusal tests Hong
Kong's waters
Members of the Listing Committee of the Hong Kong Stock Exchange gather on
Thursday to discuss the listing plans of United Company Rusal, the first
application lodged by a Russian company to sell shares in the city's market.
More than the possible US$3 billion value of the share sale will be at stake. - John
Helmer (Nov 18, '09)
CHINA'S REVOLUTION, Part 5
Surplus and capital formation
China's post-revolution challenge was to transform a feudal economy whose
surpluses were mostly unproductive into a system that would increase capital
formation and hence national income. Land reform, a significant contributor in
the pursuit of this goal, remains a key issue in the country's progress and
potential. - Henry CK Liu (Nov 18, '09)
This is the fifth article in a multi-part series.
Part 1:
In the beginning was Tiananmen
Part 2:
Revolutionary lessons
Part 3:
Lessons of the Soviet experience
Part 4:
Mao's legacy lives on
China's phone firms help Africa
go mobile
Overshadowed by China's big-number infrastructure and commodity projects in
Africa, the country's phone companies, such as Huawei Technologies and ZTE
Corp, are helping to bring affordable mobile-phone communications to the
continent's people. - Peter J Brown (Nov 17,
'09)
CHINA'S REVOLUTION, Part 4
Mao's legacy lives on
Deng Xiaoping's reform policies, which led to China's present vital role in the
world economy, would not have succeeded without the revolutionary policies
launched by Mao Zedong, whose Thought remains the light source of the
historic revival of the four-millennia-old Chinese civilization.
(Nov 16, '09)
This is the fourth article in a multi-part series.
Part 1:
In the beginning was Tiananmen
Part 2:
Revolutionary lessons
Part 3:
Lessons of the Soviet experience
CHINA'S REVOLUTION, Part 3
Lessons of the Soviet experience
Conflicting views of how to pursue revolution, not least between Lenin and
Trotsky, and concessions made by the Kremlin leadership, meant there was much
to learn from the Russian Revolution and its aftermath. But these lessons were
quickly forgotten as Stalin pursued narrow geopolitical needs. - Henry C K Liu
(Nov 13, '09)
Part 1: In the
beginning was Tiananmen
Part 2: Revolutionary
lessons
This is the third article in a multi-part series.
China trade surplus shadows
Obama visit
China's still surging trade surplus and rising unemployment in the United
States ensure that trade will be a key topic when US President Barack Obama
visits Beijing next week. Preliminary talk of friendly competition and
opposition to protectionism is unlikely to be a prelude to a change in hard
political realities. - Olivia Chung (Nov 12,
'09)
China keeps its purse open for
Africa
China's policy of no-strings-attached aid to Africa, augmented this week with a
pledge of more assistance in agriculture and infrastructure on top of a US$10
billion promise on loans, is welcomed by the continents' leaders, even as
critics continue to question Beijing's motives. - Antoaneta Bezlova
(Nov 10, '09)
China hints at move to rein in
growth
China's decision to increase the number of funds that invest domestic savings
in overseas markets may be a prelude to a tighter monetary policy as the
country's recovering economy surges towards double-digit growth. - Olivia Chung
(Nov 4, '09)
China electrifies urban transit
Chinese companies such as Zhengzhou Yutong Bus and Anhui Ankai Automobile
China, at present little known outside their home country, are seeking to lead
the world in making public buses fit for a health-conscious world. In their
favor is a vast and growing urban population - and a government determined to
clean up China's megacities. - Ryan Rutkowski
(Nov 3, '09)
China stocks surge on new board
debut
High returns and high risks is the name of the game as never before in China's
stock markets, with values of companies listed on the world's newest exchange,
the small-market ChiNext based in Shenzhen, surging on its opening day on
Friday. - Olivia Chung (Oct 30, '09)
China leads solar home
revolution
Chinese homes are increasingly likely to carry a solar water heater on the
roof, with one in 10 families already owning devices. This is attracting
overseas investment into the fragmented market, while local companies are also
boosting sales overseas. - Ryan Rutkowski (Oct
28, '09)
India-China nudge forward on climate
issues An agreement between China and India to increase
their cooperation on renewable energy and power efficiency indicated their
desire to tackle climate-change concerns, even as they continue to oppose
Western demands for binding cuts to greenhouse gas emissions.
(Oct 28, '09)
Yuan gaining currency beyond
China
Beijing's apparent disinterest in developing a policy on the convertibility of
the yuan has given way since the global financial crisis to a clear
determination to increase international use of the Chinese currency,
particularly by its Asian neighbors. The launch in January of the China-ASEAN
free trade area will help to accelerate this regionalization of the currency. - Russell
Hsiao
(Oct 28, '09)
China challenge for African
prosperity
China's increasing dependence on Africa for oil and minerals is being matched
by concern that only a few Africans benefit from the big deals involved. Extra
vigilance and a new attitude to training and development could change that, as
China's own success in reducing poverty demonstrates.
(Oct 27, '09)
 SUN
WUKONG
China's insurers denied
run of property
The Chinese government's decision to allow insurance companies to invest some
of their near US$500 billion in holdings directly in real estate has property
developers keenly anticipating a new inflow of cash. Yet the red tape with
which Beijing is tying up the reform should be sufficient to ensure no quick
bucks - or sharp losses - for anyone. - Wu Zhong
(Oct 26, '09)
Property too hot to handle in Hong Kong
A world-record price for an apartment in Hong Kong highlights rising
demand from wealthy mainland Chinese, while a 26% surge in prices since January
raises fears of a bubble. This boom has prompted calls for restrictions on
non-Hong Kong residents buying residential housing, and for the government to
release its vice-like grip on land. - Olivia Chung
(Oct 22, '09)
China's graduate glut grows
Beijing's efforts to reshape the manufacture-driven economy as a high-knowledge
one through increased enrollment have resulted in swelling ranks of unemployed
graduates, with last year's downturn exacerbating the situation. And for some
of the graduates who do get a job, they earn less than migrant workers.
(Oct 21, '09)
Beijing takes on Latin America
China is increasingly deepening its aid and investment ties with Latin America,
while also playing an expanding role as an alternative provider of technology
and military goods. In particular, Brazil's economic performance has been
driven, in part, by its export-oriented iron and soy industries, for which
China is a key customer. (Oct 21, '09)
New broom may sweep Google China
ahead
Lee Kai-fu's decision to quit his job as head of Google China has been
portrayed as a major setback for the company as it struggles to catch up with
mainland rival Baidu. Yet his successor's background and preference for a
less-technology heavy approach could play very much in the United States
company's favor. - Sherman So (Oct 19, '09)
Sechin's energy enigma
Russia's agreement in principle to supply up to 70 billion cubic meters a year
of natural gas by pipeline to China raises a discomfiting question for Deputy
Prime Minister Igor Sechin - if the Chinese haven't agreed on a price for the
gas, is there a real deal to sell it? Either way, gas monopoly Gazprom looks to
have come out ahead. - John Helmer (Oct 15,
'09)
Tsang keeps purse strings tight
Hong Kong Chief Executive Donald Tsang, who oversees a city with about US$64
billion in fiscal reserves and a budget surplus even amid the present downturn,
used his annual policy address to promise redevelopment of a few old buildings
and to give handouts for light bulbs. The city's increasing numbers of
unemployed and impoverished appear to have disappeared off his radar. - Olivia
Chung (Oct 15, '09)
Price limit on China-Russia
friendship
Russian Prime Minister Vladimir Putin's latest visit to China indicates that a
closer strategic cooperation is developing between the two countries. Beijing's
determination to drive a hard bargain on the price of gas imports, a change
from the offer of oil-related concessionary loans earlier this year, indicates
that the cooperation has its limits. - Robert M Cutler
(Oct 15, '09)
China's rich throw lifeline to
the West
Western makers of luxury products are enjoying a sales boom in China, as the
number of rich Chinese continues to grow while the rest of the world struggles
amid the continuing downturn. - Olivia Chung (Oct
14, '09)
Duty call trips Russia steel
game
Russian steel bosses and coal-miners, in Beijing this week with Russian Prime
Minister Vladimir Putin hoping to secure business-bolstering agreements with
China, have been done few favors by a Russian Trade Ministry recommendation for
a near 30% penalty duty on imported Chinese line pipes. As it is, the Russians
appear to be playing Chinese checkers, while the Chinese are playing something
much more complex. - John Helmer (Oct 13,
'09)
Wynn the master of Macau gamble
Gaming magnate Stephen Wynn's bet that punters would flock to buy shares in his
Macau casino interests, made as the outlook soured for new listings in Hong
Kong, has paid off big time, with the risky initial US$1.6 billion sale being
followed by a soaring stock price on the first day of trading. - Olivia Chung
(Oct 9, '09)
Currency fiddlers wrong to cry
foul
China and other countries seeking an end to the US dollar's status in global
commerce should stop crying foul as the dollar's value slides. Instead, they
should abandon currency manipulation and let their populations purchase more US
goods and services. - Peter Morici (Oct 8,
'09)
SPEAKING FREELY
China's electric car revolution
In a world in which market mechanisms determine consumption patterns, it seems
unlikely that clean cars will be able to make significant inroads until the
last drop of oil is sucked out of the ground. But just maybe, China's market
and subsidized rush for electric vehicles could help it mass manufacture
environmentally-friendly autos for the rest of the world. - Ryan Rutkowski
(Oct 8, '09)
China stands firm against market
scramble
China has little intention of letting its role as the world's factory decline
or of allowing its currency to strengthen faster, despite the Group of 20's
pledge to work towards reducing global trade imbalances. Beijing believes the
true nature of such demands is a scramble by the United States for markets.
(Oct 7, '09)
Shanda Games shows its wrinkles
China's Shanda Interactive is laughing all the way to the bank after the US$1
billion spin-off and Nasdaq listing of its Shanda Games unit, while buyers of
the stock are wondering why their fingers got burnt. Perhaps they forgot that
when it comes to games, age matters. - Sherman So
(Oct 6, '09)
SPEAKING FREELY
China's eye on African
agriculture
China is investing huge amounts in African agricultural resources, but is it
being self-interested and disadvantaging Africa or is it truly seeking to help
the continent to address its widespread hunger? The record thus far does not
support Western cries of Chinese neo-colonialism. But Africa must be on its
guard and protect its poor farmers. - Carl Rubinstein
(Oct 1, '09)
Hong Kong faces Rusal dilemma
Shares of Rusal, Russia's aluminum monopoly, may soon be up for sale in Hong
Kong. Much will depend on how Hong Kong stock exchange investigators view the
proposed initial public offering and the state of play in court cases elsewhere
in the world. - John Helmer (Sep 30, '09)
China moves into reserve
position
China's leaders react to change, rather than orchestrate it. They are also
pragmatic, learning from the country's economic transformation that there are
no global models, but that each country knows what works best for it. Right
now, what's best for China is to become the reserve bank to the International
Monetary Fund. - Laurence Brahm (Sep 30, '09)
Guangxi flies regional trade
flag
China's southwest Guangxi region is preparing to host representatives from
across Southeast Asia in a trade fair that, more than most, represents the
growing integration of China and its southern neighbors into a thriving and
complex economic center. - Tim Summers (Sep
25, '09)
China hedges emissions pledge
President Hu Jintao's promise to world leaders to break China away from its
highly polluting ways came with gaps and caveats that mean its overall level of
greenhouse gas emissions could still grow. (Sep 24,
'09)
China faces a retail reality
check
Premier Wen Jiabao's dire warnings of continued instability seem out of step
with China's recently announced surge in retail sales. As the sales upturn has
been driven mostly by steep discounts, government subsidies and promotions -
and accompanied by crashing revenues - Wen's skepticism is likely nearer the
target. - Olivia Chung (Sep 18, '09)
AirMedia gambles on Shanghai
space
AirMedia, barely four years in existence, has made its
advertising screens a must-see for practically all China's air travellers.
After adding Shanghai's main terminals to a portfolio headed by Beijing
International Airport, where 55 million people pass the company's products each
year, the trick now is to make the business pay. - Sherman So
(Sep 16, '09)
'Tire war' strains US-China
relations
Some analysts worry that the war of words between Washington and Beijing over
recent tariffs imposed on Chinese tire imports could spark a trade war of
retaliatory measures and spur a protectionist trend in United States President
Barack Obama's trade policy. (Sep 16, '09)
COMMENT
Obama in showdown over Chinese
tires
United States President Barack Obama's attempt to be all things to all people
on trade issues has run its course, as his labor union campaign backers force a
decision on whether punitive tariffs should be imposed on tires imported from
China. The Chinese, though, have allies, in the shape of US tiremakers. - Patrick
Chovanec (Sep 9, '09)
Pakistan acts to guard Chinese
interests
A change in status for Pakistan's Northern Areas, now known as Gilgit
Baltistan, reflects a desire to improve security for China's growing financial
stakes in the strategic region. - Syed Fazl-e-Haider
(Sep 3, '09)
Rent soars for Hong Kong cage
dwellers
Hong Kong's economic downturn is turning into good news for some of the city's
landlords and, with low-skilled unemployment as high as 11%, bad news for
thousands of tenants forced to pay higher rents to live in squalid metal cages.
- Olivia Chung (Sep 2, '09)
Google, Baidu do battle in
China's 3G frontier
Google's world dominance of Internet search stops at China, where it has more
then met its match in local rival Baidu. Now it hopes to turn the tables as the
world's biggest mobile-phone market switches over to third-generation
technology. Yet as the two giants battle it out, they may find deep pockets and
fancy applications are not enough. - Sherman So
(Sep 2, '09)
SUN
WUKONG
China admits pay fudge
China's top number cruncher has come clean on his bureau's income statistics -
they ignore millions of non-state workers, although they contribute about
two-thirds of China's gross domestic product. The omission goes against the
wishes of Premier Wen Jiabao, but suits local bureaucrats just fine. - Wu Zhong
(Sep 1, '09)
Australia approves gas
megaproject
Developers of the vast Gorgon natural gas project off Western Australia have
won environmental approval from the Australian government to proceed. That is
good news for PetroChina and India's Petronet, which have agreed to take more
than US$60 billion of the fuel. Japan is another key customer. - Robert M Cutler
(Aug 26, '09)
China trade pact carries
price-tag query
The forging of an ASEAN-China free trade agreement marks a profound change in
the region's relationship with Beijing, yet it is not clear whether it
represents a fundamental shift in Chinese statecraft or seeks only to buy time
for China to become the region's pre-eminent power. (Aug
25, '09)
Listing boost for China's
military
A surge in orders has given a lift to China's struggling shipyards, yet
underlying problems from overcapacity to management remain. China Shipbuilding
Industry's planned share sale could help to resolve these, while creating a new
funding route for the country's defense budget. - Russell Hsiao
(Aug 21, '09)
SINOGRAPH
China leads an Asian charge
Experience learned from the 1997-98 crisis is helping emerging nations in Asia,
where data shows a China-led recovery underway. In saving itself and the
region, China is making a proud political and strategic statement, but by
taking a new role at the forefront of recovery, it is also dipping into
untested waters. - Francesco Sisci (Aug 19,
'09)
Taiwan counts typhoon cost
Taiwan's industry appears to have escaped lightly from Typhoon Morakot, given
the human cost brought down on the island by the storm, with the dead still
being tallied. Yet the political aftermath and trade issues may soon take their
own toll on the economy. - R M Cutler (Aug
18, '09)
China Inc taps seam of bribery
The arrest in China of four Rio Tinto executives on claims they obtained
commercial secrets by "improper means" prompted outrage in the West. Yet
overseas companies figure frequently in Chinese corruption investigations. For
Westerners, it may be a case of when in Rome ... except that in China, the
locals can be executed when caught. - Olivia Chung
(Aug 17, '09)
China crosses WTO border
The World Trade Organization's charge that China has violated protocols by
restricting imports of DVDs, software and books highlights the fine line the
country must follow in seeking overseas markets while defending its own
industries. (Aug 14, '09)
China calls halt to Gwadar refinery
China has shelved its multi-billion dollar refinery project at Gwadar, in
Pakistan's insurgency-troubled Balochistan province, casting doubt also on
plans for a fuel pipeline running the length of Pakistan to China's far west.
Lack of progress is the given reason. - Syed Fazl-e-Haider
(Aug 13, '09)
US casino bosses vary Macau bet
The two biggest United States investors in Macau may try
raising cash in Hong Kong by selling shares tied to their assets in the
gambling enclave. With the gaming industry in a global slump, it's a desperate
throw by one of the players, and perhaps too risky a bet for investors. - Muhammad
Cohen (Aug 13, '09)
China quietly reshapes Asia
China will not boast of this success, but a new order has been
established in Asia. The country is now Russia's largest trading partner, not
least because of a reversal of past Kremlin policy that allows greater access
in Russia's Far East region and elsewhere in Asia to Chinese interests.
(Aug 11, '09)
Hurricane season not over
Investors continue to drive up US stock valuations and President Barack Obama's
economic team is telling the world the recession is over in the United States.
Yet as a US$3.4 trillion commercial mortgage crisis fast approaches, the
country is in the eye of an economic hurricane. - John Browne
(Aug 6, '09)
China's sleepless nights
United States Treasury Secretary Timothy Geithner is losing
little sleep over his country's international debts. China's proposals for a
super-sovereign reserve currency reflect deeper concern. Such a move would also
help the rest of the world maintain growth free from the pains of cycles and
speculation. - Hossein Askari (Aug 5, '09)
SUN
WUKONG
China works pay miracle
Even waves of factory closures, bankruptcies and a stock-market crash cannot
hold back the Chinese miracle, with wages now growing faster than the country's
economy. It is so amazing that even state media are starting to say something
doesn't add up. - Wu Zhong (Aug 4, '09)
Moscow market closure strains
Turkish ties
The ambitions of business mogul Telman Ismailov may have played a bigger role
in the closure of Moscow's vast Cherkizovsky market than the official excuse of
health and immigration issues. More certain is that the shutdown will add a
complex wrinkle to Turkey's welcome mat when Prime Minister Vladimir Putin
visits next month. Chinese traders caught in the crackdown have also learned
how low they figure in their government's priorities.
Chinese traders left hanging
- Olivia Chung (Jul 29, '09)
China's oil partners hang onto
assets
Concern that Beijing is seeking to lock up global energy assets may be
misplaced, with recent deals indicating that oil-producing countries are
securing the financing they require while maintaining control of their energy
assets. (Jul 28, '09)
China's demand bends copper's
value
With copper demand seen as a leading indicator of economic health, recent price
gains have supported hope that recessionary woes may be ending. But with
Western auto and housing markets remaining soft, it may merely be that China,
having restocked inventories, is establishing a "strategic reserve" in the
metal. - R M Cutler (Jul 22, '09)
SUN WUKONG
Guangdong's Wang checks growth
sums
China's recovering economy looks on target to meet the government-set goal of
8% expansion in the year - raising concerns over the cost to the environment
and to President Hu Jintao's focus on "scientific development". Guangdong
provincial party chief Wang Yang, for one, has been doing his sums. - Wu Zhong
(Jul 21, '09)
Russia, China numbers missing
The recent visit by China's President Hu Jintao to Russia aimed at deepening
the two countries' strategic partnership and developing energy cooperation. But
the sums do not quite add up. - Sergei Blagov
(Jul 20, '09)
China eyes Pakistan steel sector
Chinese metals company MCC, already involved in producing copper in Pakistan's
Balochistan province, may invest more than US$2 billion in modernizing the
country's only integrated steel-making company. - Syed Fazl-e-Haider
(Jul 16,'09)
China maps out troubled waters
China's official submission to the United Nations of its survey findings
supporting its claim to extensive areas of the East China Sea may strengthen
those claims, but also exacerbate rather than resolve territorial conflicts in
the area. (Jul 15,'09)
Australia lands in Chinese soup
The arrest in China of Rio Tinto's top man there for iron-ore operations, Stern
Hu, has shaken the confidence of foreign investors in the country and created a
diplomatic crisis for Australia. It is also a rude awakening for Australian
Prime Minister Kevin Rudd that China now calls the shots in most bilateral
relationships. - Sreeram Chaulia (Jul 13,'09)
Xinjiang - China's energy
gateway
Beijing's concern at the unrest in Xinjiang extends beyond the threat to its
own authority. The vast region, already an essential supplier of oil and gas to
the rest of China, is an important border gateway for energy supplies from its
numerous Central and South Asia neighbors. - Robert M Cutler
(Jul 9,'09)
COMMENT
Macau progress leaves out
politics
Macau's breathtaking economic development has focused on the big players while
the majority of residents get scraps, a pattern replicated even more sharply in
local politics. Uncontested elections and stifled debate won't help Macau
attract needed tourists or investors. - Muhammad Cohen
(Jul 2,'09)
Dollar's future in US hands
China's moves to have its exports paid for in yuan should not
be interpreted as a push to make the yuan a reserve currency for international
trade. The US dollar will continue to play this role - if the United States
puts its own financial house in order. - Henry C K Liu
(Jul 1,'09)
China's grip tightens on 'green'
metals
China's tightening grip on the supply of metals that play a central role in
products such as electric car motors and wind turbines could see the United
States and other Western industrialized powers become dependent on the Asian
giant for the "green" technologies of the future. (Jun
29,'09)
Iran-Pakistan pipeline not a done
deal
Muted fanfare over progress in the Iran-Pakistan gas pipeline deal belies its
potentially huge appeal. Moscow sees a chance to strengthen its grip on
Europe's gas markets while Beijing is eyeing supplies shipped from the
Chinese-built Gwadar port in Pakistan. The silence could be due to doubts over
Tehran's dubious track record and political situation. - Robert M Cutler
(Jun 25,'09)
Beijing's facade of resilience
Idealistic notions that the global downturn has handed China a golden
opportunity to stimulate domestic consumption ignore harsh political realities.
Instead of helping the neglected private sector, the majority of the US$586
billion stimulus package will likely be hijacked by bloated state-controlled
enterprises for big-ticket, fixed-investment projects . - John Lee
(Jun 25,'09)
US senators call for Chinese
drywall probe
Thousands of Americans live in homes with Chinese-manufactured drywall now
believed to be defective. Besides confronting huge financial headaches, a
growing list of health-related problems may loom for these people as well. - Peter
J Brown (Jun 23,'09)
China steels for a showdown
In the wake of collapsed demand, China's steelmakers are pushing for a 40% to
50% cut in prices of iron ore, their key raw material, at talks with their
principal suppliers. But Australian miners Rio Tinto and BHP are playing
hardball. The firms have announced plans for a huge joint venture, riling
Beijing to the point that it has threatened to wield its tough anti-monopoly
law, or look elsewhere. - Olivia Chung (Jun
22,'09)
OBAMA, CHANGE AND CHINA
Group of Two the wrong number
Advocates in the United States of a Group of Two power pairing that would link
Beijing and Washington in leading a new world order acknowledge China's desire
for recognition as a global power. But they overlook China's preference for
multilateralism and the energy it is devoting to deepening ties around its
northern and western borders. - Henry C K Liu
(Jun 18,'09)
This report is the fifth in a series
Part 1:
The song stays the same
Part 2:
A dangerous balance
Part 3:
The New Deal dollar and the Obama dollar
Part 4:
Brzezinski's G-2 grand strategy
SINOGRAPH
The yuan lies in waiting
Volatility in the US dollar, reflecting uncertainty over America's economic
prospects, would be no problem if the euro, yen or sterling were its
competitors as reserve money rather than being even more volatile. If the
Chinese yuan, backed by a strong domestic economy, comes to the fore, the whole
game is bound to change. - Francesco Sisci (Jun
17,'09)
Bad times good for Macau mogul
Ho
The former holder of Macau's gambling monopoly looked like yesterday's man as
American newcomers built megaresorts that dwarfed his flagship Hotel Lisboa.
But as the bubble bursts, it's clear Stanley Ho knew best. - Muhammad Cohen
(Jun 17,'09)
The world is now changed
Even US Treasury Secretary Timothy Geithner conceded the issue in China this
month - global economic power is already being rebalanced, with the strategic
rise of emerging economies and the simultaneous decline of developed nations.
That will only accelerate as the financial crisis fades. - W Joseph Stroupe
(Jun 17,'09)
This concludes a three-part report.
Part 1: Awakening
ahead on bond delusion
Part 2:
BRIC group plans own revolution
Hummer's Sichuan link
fuels up with cash
Questions of money immediately cast doubt on how unknown Sichuan-based
Tengzhong Heavy Industry Machinery would succeed in buying the Hummer brand
from bankrupt General Motors. The Hong Kong share listing of "unrelated" Lumena
Resources has now made its chairman, Sichuan native Suolang Duoji, vastly
richer, with enough wealth to throw his weight behind the Hummer purchase. - Olivia
Chung (Jun 16,'09)
Awakening ahead on bond delusion
The hitherto success of US Treasury auctions fosters the delusion that all this
debt is still alright - and that Chinese and other central banks have little
option but to stick with the US dollar. A rude awakening lies in store. W
Joseph Stroupe
This is the first report in a three-part article
(Jun 15,'09)
China's copper deal back in the
melt
International Monetary Fund attempts to engineer renegotiation of China's US$9
billion resource agreement with the debt-burdened Democratic Republic of Congo
are unlikely to endear the organization to President Joseph Kabila. Nor does it
seem a friendly gesture to Beijing. - Peter Lee
(Jun 11,'09)
Minmetal victory goes by the
rules
The victory of China's Minmetals in securing assets
from Australian miner Oz Minerals should go some way to easing Beijing's
hurt at Rio Tinto's earlier rejection of Chinalco. The lesson in both cases is
that commercial factors and rules count in an equity led market system. - Alan
Boyd (Jun 11,'09)
SUN WUKONG
Foreign companies blowing in the
wind
Vestas Wind Systems and other overseas companies hoping for a slice of China's
US$586 billion economic stimulus package are having to think again as the
government lays down the law on where the money should go - to Chinese
companies. The United States set the example, but China at least is not
breaking world trade rules. - Wu Zhong (Jun
10,'09)
China's shoppers learn 'China'
hazard
Chinese businesses, seeking to compensate for a slump in overseas demand by
finding new markets at home, are having to overcome an unexpected obstacle -
consumers don't trust their products. - Olivia Chung
(Jun 10,'09)
China discovers value in the IMF
China has long been at odds with the International Monetary Fund, not least
over its Western domination and harsh prescriptions for countries that come to
the fund cap in hand. Now Beijing sees the institution as offering an escape
route for its own problem - how to get rid of its US dollars. - Peter Lee
(Jun 9,'09)
West and Russia spar, China wins
The Kremlin's choice of Khabarovsk, near the Chinese border, for a summit venue
should have sent a clear message to the attending European Union leaders as
they discussed future energy supplies from Russia. The Europeans, however,
appear to have badly missed the point. - M K Bhadrakumar
(Jun 8,'09)
US moves into back seat
If the United States and its consumers aren't likely to return as the global
economic driver anytime soon, and they most certainly aren't, why should China
and other emerging economies still think and act as if the US will return to
such a key role? There is now no going back to the old order with its outdated
thinking and ways. - W Joseph Stroupe (Jun
8,'09)
This article concludes a two-part report.
Part 1:
Dollar's wounds reopen
Foiled Chinalco rethinks future
Executives of Chinese aluminum maker Chinalco face a hard rethink about where
to go next after the board of debt-burdened Rio Tinto on Friday rejected a
record-breaking US$19.5 billion agreement that would have doubled the Chinese
company's stake in the Australian miner. - Olivia Chung
(Jun 5,'09)
Still dreaming in Macau
The US$2.1 billion City of Dreams hotel-casino complex opened in Macau this
week, its owners, two sons of billionaires, taking a second bet they can get
richer yet from gambling even as Macau's visitor arrivals and gaming revenue
decline. This could be a financial nightmare. - Muhammad Cohen
(Jun 3,'09)
China needs no sales pitch
Chinese leaders know very well the state of the Chinese, the US and the world
economies; they don't need a sales pitch on buying US debt. So what's the
purpose of US Treasury Secretary Timothy Geithner's trip to Beijing?- Axel Merk
(Jun 3,'09)
Chongqing shows its muscle
As US local authorities, facing tumbling revenues and soaring unemployment, beg
federal help, in China the cash-rich government of Chongqing plans to splurge
US$8 billion on buying overseas assets ranging from farmland to an iron-ore
mine. It's enough to make California governor Arnold Schwarzenegger weep. - Olivia
Chung (Jun 2,'09)
Cross-strait ties grow amid
storms
Relations between Beijing and Taipei have strengthened remarkably, even as
negative global factors - notably the economic downturn and faltering trade
talks - abound. The advent to power of President Ma Ying-jeou helps, but the
groundwork was laid well before that. (Jun 1,'09)
Metal skirmish takes on global
hue
China rules the world of steel and so has a big say in the world of manganese,
a key element in steel production. How big a say may be determined by an
Australian court in a legal battle involving refiner OMH and whose reach takes
in Singapore, the British Virgin Islands and Ukraine. - John Helmer
(Jun 1,'09)
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