Saturday, 21 November 2009
“Now, many entrepreneurs are starting to turn away foreign currency funds,” Mr. Wang at China Equity said. “They say they can take an RMB investment and not go through a lengthy process to list offshore. And they see the Shanghai or ChiNext exchange as viable listing places.”
Rampant stimulus-induced speculation, soaring prices, Mickey Mouse and evil mothers-in-law: Shanghai’s property market has become a brutal and unforgiving world for first-time buyers.
As the world’s only superpower, the United States is accustomed to setting standards of conduct across a range of issues. These include human rights, free trade, currency manipulation and illicit drug control. Whether the US is in a position to moralise depends, to a large extent, on the countries being praised or criticised. One area where Washington has been most vocal has been its persistent criticism of Chinese espionage against US interests. In the world of intelligence, everyone spies on everyone else. Is the complaint from the US not a classic case of the pot calling the kettle black? Perhaps there is an acceptable espionage threshold beyond which spies from one nation should not go against another. But no one has specified what that might be.
Friday, 20 November 2009
Thursday, 19 November 2009
Wednesday, 18 November 2009
US President Barack Obama’s visit to Japan brought forth renewed utterances of support of their bilateral security treaty, but the new Democratic Party of Japan government of Prime Minister Yukio Hatoyama appears determined to make it a more equal alliance.
Tuesday, 17 November 2009
One big question that emerges from the whole sorry Sino-Environment saga is why trading of its shares continued for six months after it became likely that the company would be brought down by the problems that beset it.
Military co-operation between China and the US has been sporadic and limited because of deep mistrust between the two sides, a retired PLA general has said, attributing much of the tension to Washington’s arms sales to Taipei and its surveillance activities in the South China Sea.
Trio grew Days Inn franchise from one hotel in 2003 to 27 now - with more on the way
Some 13 months ago, just after Lehman Brothers went bust and stocks all over the world were crashing, many fingers of blame were pointed in the direction of short-sellers - particularly those of a naked persuasion.
The rebound from the recent market dip in the US has been much more rapid than expected. The tests of support near 9,600 on the Dow Jones Industrial Average were successful and have provided a springboard for a rapid rally above the significant technical resistance level at 10,200. This appears to have broken the behavioural nexus between the Dow and the Shanghai Index.
Monday, 16 November 2009
Top executives at Blackwater Worldwide authorized secret payments of about $1 million to Iraqi officials that were intended to silence their criticism and buy their support after a September 2007 episode in which Blackwater security guards fatally shot 17 Iraqi civilians in Baghdad, according to former company officials.
Several high-profile soccer officials have been snared in a crackdown on underground gambling, amid growing frustrations at the highest level of the government at the ugly state of the “beautiful game” on the mainland.
After almost 10 years negotiations and weeks of speculation and mounting anticipation, Shanghai has finally been given the green light to build a Disney theme park - but the public is still in the dark over the exact scope of the deal.
In local market parlance, the key manipulator behind a stock is referred to as the chng kay, a Hokkien term which loosely translates to a croupier in a casino, who is the person who holds all the cards and deals them. This then means that anyone who trades these pennies runs the risk of the chng kay pulling the plug at any time, or risk unforeseen circumstances like an overseas market crash overcoming the manipulators’ ability to deliver the goods.
Sunday, 15 November 2009
The Ministry of Health has stepped in and ordered the Beijing health bureau to look into the case of a Peking University professor of medicine who died in 2006 after being treated by three unlicensed medical postgraduates at the Peking University First Hospital.
Soong Mei-ling, better known to history as Mme. Chiang Kai-shek, was exaggerating only slightly. Chinese by birth, American by education and cultural inclination, she was a seductive blend of both societies; for a time, no woman in the world was more powerful.
Take a stroll along the streets of Shenzhen and look up - you will see them everywhere, on building walls, light posts, under bridges, at street corners. Digital surveillance cameras - an estimated 800,000 of them - are peering into every nook and cranny of the border city, analysing the flow of people, alerting police to suspicious gatherings and ensuring no crime is likely to go unseen.
Wen Qiang had a fondness for Louis Vuitton belts, fossilized dinosaur eggs and B-list pop stars. For a public employee in charge of the local judiciary, he also had a lot of money: nearly $3 million that investigators found buried beneath a fish pond.
China’s military has made dramatic progress in space over the past decade and the goals of its program remain unclear, a top American general said.
The opening of a Nasdaq-style stock board in China is already being seen as a watershed moment for the country’s capital markets, providing new but volatile opportunities for mainland Chinese investors and an alternative source of financing for start-up companies.
The mainland leadership’s decision to remove unpopular education minister Dr Zhou Ji over the weekend may seem abrupt, but it was not unexpected. It’s actually a welcome development. As the central government maps out educational reforms for the medium and long term, Zhou’s removal may signal a new start.
Taiwanese investigators looking into the 2004 shooting of the island’s former president Chen Shui-bian said yesterday they had found no blood or bullet hole in his trousers, adding mystery to an incident that may have won him a second term.
But the return to 10,000 also serves as a bitter reminder that stocks have gone virtually nowhere, on balance, for more than a decade. It was in March 1999 that the Dow first climbed above 10,000, before soaring as high as 14,164 two years ago and plummeting as low as 6,547 this past March.
When President Obama visits China for the first time on Sunday, he will, in many ways, be assuming the role of profligate spender coming to pay his respects to his banker.
Chinese officials are being told to dump their mistresses, avoid hostess bars, and shun extravagances as part of the Communist party’s efforts to clamp down on the corruption that is threatening its rule and sullying its reputation.