CHINA: April 10, 2012
TRUE STORIES
China ejects Bo from elite ranks, wife suspected of murder
China’s Communist Party has suspended former high-flying politician Bo Xilai from its top ranks and named his wife a suspect in the murder of a British businessman, a dramatic turn in a scandal shaking leadership succession plans.
http://www.reuters.com/article/2012/04/10/us-china-politics-bo-idUSBRE8390KT20120410
Turkey, China Sign Nuclear Deals
Turkish Prime Minister Recep Tayyip Erdogan has overseen the signing of two nuclear agreements with China during a trip to the Asian nation.
http://blogs.voanews.com/breaking-news/2012/04/09/turkey-china-sign-nuclear-deals/
China appeals for ‘flexibility’ on all sides for Iran nuclear talks
Iran’s economic ally China urged all sides Tuesday in upcoming nuclear talks to show “flexibility and sincerity” even as Tehran sent mixed messages with hints of compromise and blasts of defiance.
http://www.washingtonpost.com/world/middle_east/china-appeals-for-flexibility-on-all-sides-for-iran-nuclear-talks/2012/04/10/gIQAWhnX8S_story.html
China sentences woman to death for $16 million fund scam
A 30-year-old Chinese woman was sentenced to death by a court in Wenzhou for “cheating” investors of 100.11 million yuan ($16 million) losing 94 million yuan in futures and gold trading, the official Xinhua news agency reported on Friday.
http://www.reuters.com/article/2012/04/06/us-china-economy-death-idUSBRE83508920120406
China’s drug agency rejects state media claims of cover-up in lead found in health supplement
China’s scandal-plagued food and drug agency defended itself Tuesday against media reports claiming it covered up problems with excessive lead in domestic supplies of spirulina, a popular algae-based health supplement.
http://www.washingtonpost.com/world/asia_pacific/chinas-drug-agency-rejects-state-media-claims-of-tainted-spirulina-cover-up/2012/04/10/gIQAaEbt7S_story.html
China pressures Japan to prevent exiled Uighur meeting
China urged Japan on Monday not to allow an exiled Uighur group to hold a major conference in Tokyo next month, saying the organization seeks to damage Chinese sovereignty.
http://www.reuters.com/article/2012/04/09/us-china-japan-xinjiang-idUSBRE83806W20120409
China calls on Syrian government, opposition forces to back Annan’s peace plan
China on Tuesday again called on the Syrian government and opposition forces to immediately back a truce deal arranged by U.N.-Arab League envoy Kofi Annan.
http://www.washingtonpost.com/world/asia_pacific/china-calls-on-syrian-government-opposition-forces-to-back-annans-peace-plan/2012/04/10/gIQAdEQa7S_story.html
China Buys Inroads in the Caribbean, Catching U.S. Notice
A brand new $35 million stadium opened here in the Bahamas a few weeks ago, a gift from the Chinese government.
http://www.nytimes.com/2012/04/08/world/americas/us-alert-as-chinas-cash-buys-inroads-in-caribbean.html
China Sets Waste-to-Power Price Double That of Coal-Fired Plants
China, the biggest carbon emitter, set a price for electricity generated from waste-to-energy plants that’s double that paid to coal-fired projects to encourage renewable-energy development.
http://www.bloomberg.com/news/2012-04-10/china-sets-waste-to-power-price-double-that-of-coal-fired-plants.html
IMF Poised to Lower View on China’s Trade
The International Monetary Fund is poised to sharply reduce its long-term forecast of China’s current-account surplus, the broadest measure of a nation’s trade, which would strengthen Beijing’s defense against the U.S. argument that the Chinese currency is “substantially undervalued.”
http://online.wsj.com/article/SB10001424052702304587704577335453273716604.html
Microblogging use in China quadrupled in 2011
Nearly half of all Chinese Internet users use service to gather news and spread views.
http://www.msnbc.msn.com/id/46015958/#.T4TXWL9rMgM
Trade Gains Put China in Quandary
After months of weakness in overseas demand, especially from Europe, Chinese exports finally seem to be recovering. But now the country’s domestic economy is looking a little less robust.
http://www.nytimes.com/2012/04/11/business/global/surplus-in-china-trade-comes-as-surprise.html
China Unexpectedly Reports Trade Surplus
China reported an unexpected trade surplus last month as import growth trailed forecasts, underscoring risks of a deeper slowdown in the world’s second- largest economy.
http://www.bloomberg.com/news/2012-04-10/china-unexpectedly-reports-trade-surplus.html
China Web giants promise to fight “rumors”
Three of China’s largest Internet companies have promised the government they will take steps to banish online rumors, state media said on Tuesday, as the ruling Communist Party fights jitters over a tricky leadership transition.
http://news.yahoo.com/china-giants-promise-fight-rumors-xinhua-125856738.html
China rights lawyer jailed for 2 years, 8 months
A Chinese court sentenced a disabled lawyer renowned for defending people evicted from their homes to two years and eight months in prison on Tuesday for causing a disturbance and fraud, Beijing’s latest use of a controversial law to stifle dissent.
http://news.yahoo.com/china-rights-lawyer-jailed-2-years-8-months-113004098.html
China March crude imports 3rd highest ever, but momentum easing
China’s imports of crude oil eased in March from a record level hit in February but were the third highest ever, at 5.55 million barrels per day (bpd), as refiners in the world’s second-largest consumer rebuilt stocks.
http://news.yahoo.com/china-march-crude-imports-3rd-highest-8-7-035505828.html
China sets out school bus law after deadly crashes
China’s cabinet has issued new rules governing school bus safety in the wake of a series of deadly crashes that sparked public anger.
http://www.bbc.co.uk/news/world-asia-china-17661332
China trade data for March paints mixed growth picture
China’s trade data for March has unveiled a mixed picture of growth in the world’s second-largest economy.
http://www.bbc.co.uk/news/business-17661199
Weak trade data add to China concerns
A slowdown in China’s trade with the rest of the world has provided fresh evidence of weakness in the world’s second-largest economy, with anaemic growth in exports and even slower imports suggesting continued deceleration in the coming months.
http://www.ft.com/cms/s/0/cfe5d4b0-82be-11e1-9242-00144feab49a.html#ixzz1rhDbQIcQ
OPINES
The Chinese Rare Earths Cartel: Too Little Too Late
News from China that they are organising their little rare earths cartel in a more formal manner. The truth is though that for China to really control the market they’re moving too little and too late.
http://www.forbes.com/sites/timworstall/2012/04/10/the-chinese-rare-earths-cartel-too-little-too-late/
China’s Inland Cities Power New Growth
As rising wages and costs sap growth in the coastal centers that led China’s 30-year export boom, Hefei’s 15.4 percent expansion last year puts it in the vanguard of a new tier of inland powerhouses. Cities including Wuhan, Zhengzhou and Wuhu are drawing capital and factories from the east and abroad as companies such as Continental, the world’s fourth-largest tiremaker, and Unilever (ULVR), the world’s No. 2 consumer-products maker, bet they will underpin the nation’s next decade of growth.
http://www.businessweek.com/news/2012-04-10/china-inland-cities-power-new-growth-offsetting-slowing-on-coast
How China Made Its Great Leap Forward
Some observers praise its ‘state-led capitalism.’ But the truth is that leaders, starting with Deng Xiaoping, loosened Beijing’s control.
http://online.wsj.com/article/SB10001424052702303302504577326132059836456.html
Going Soft on China’s Commodity Demand
In China’s boom years, everything from copper to soybeans benefited from turbocharged demand growth. Now that the economy is slowing, investors need to take a more nuanced view.
http://online.wsj.com/article/SB10001424052702303815404577335290472756760.html
Will Instagram Help Facebook Crack China?
Facebook has yet to find a way into China, but its purchase of a much smaller social networking service, photo sharing app Instagram, may give it a foot in the door. Instagram, an app that allows users to quickly edit photos, tag and share them, is available in Chinese and is integrated with one of China’s most popular microblogging services, Sina Weibo, so users can post their Instagram photos on their microblogs.
http://blogs.wsj.com/chinarealtime/2012/04/10/will-instagram-help-facebook-crack-china/
The Google of China: The Secret of Baidu’s Runaway Search-Engine Success
Recently there has been a rumor that Baidu, China’s most popular search engine, was interested in acquiring Yahoo. Robin Li, Baidu founder and CEO denied the rumor, saying the company wasn’t thinking about buying up “another large company.” Indeed, Baidu is much larger than its American counterpart — and worth much more: Baidu’s market value is currently estimated around $39 billion, while the long-established Yahoo is at $18.7 billion.
http://www.time.com/time/world/article/0,8599,2111545,00.html#ixzz1rhE1ppdX
Lack of tolerance mars Web’s values
Since modern times, China has made several serious mistakes when judging the national situation. The problem remains today.
http://www.globaltimes.cn/NEWS/tabid/99/ID/704031/Lack-of-tolerance-mars-Webs-values.aspx
China’s next generation should look to Zhu
Remember that issue with the Chinese currency? As markets await this week’s economic data releases from Beijing, it is easy to be complacent over its mercantilist exchange rate policies, now concern is shifting to whether China has a hard landing ahead.
http://www.ft.com/cms/s/0/de483c9e-7cb2-11e1-9d8f-00144feab49a.html#ixzz1rhEHpqbz
China, between a rocket and a hard place on North Korea
A joke circulating among officials in Beijing pretty much underlines the bind China is in over North Korea’s plans to send a satellite into space.
http://www.reuters.com/article/2012/04/10/us-korea-north-china-idUSBRE83902J20120410
