Australian Foreign Minister Steven Smith stated today that Stern Hu, General Manager of Rio Tinto China, was detained on espionage charges earlier this week. Hu’s firm, Rio Tinto, is a major Australian supplier of iron ore (a necessary ingredient for making steel). The company is currently negotiating annual contracts with China that dictate pricing terms […]
Memo to Obama Administration: Now would be a good time to re-hyphenate your India policy, less India-Pakistan more India-China. Rising Sino-Indian tensions are causing people, including this blogger, to wonder whether Obama has a plan to deal with a pivotal security challenge of the 21st Century: the management of Chinese ambitions and Indian anxieties. It […]
Russian President Dmitry Medvedev attempted to allay global fears that Moscow is trying to amass access to natural resources this week during a trip through Egypt, Nigeria, Namibia and Angola as he signed billion dollar energy deals providing Russia a greater foothold in Africa . In Angola, Medvedev emphasized that these resource contracts were important […]
Cross-strait relations between the Chinese mainland and the Republic of Taiwan have made significant progress with an extension of goodwill to Taiwan’s Democratic Progressive Party (DPP), which strives for Taiwanese independence. Earlier this month, Kaohsiung municipality Mayor Chen Chu became the highest ranking DPP official to have set foot on the mainland. Not only is […]
I just wanted to flag what I thought were some pretty good items out and about in the media lately. China and Climate Change – One of the go-to guys for progressive economics, Paul Krugman, has a column today, Empire of Carbon, that is both pessimistic and optimistic. (Boy, do I know that feeling when […]
A recent analysis of China’s media censorship practices deftly analyzes and explains the country’s system of repression and control of the media by using the threat of economically punishment. The piece, published on May 2 in the Far Eastern Economic Review, is aptly titled “China’s Commercialization of Censorship“. The piece not only explains how China […]
OPEC and large Asian oil consuming countries led by Japan, India and China met on Sunday for the third Asian Ministerial Energy Roundtable. The group’s goal is to To foster dialogue between Asia’s resource producers, primarily Middle East countries, and consumers, such as China and India, and to send a message to the world that […]
In a country like China that is already so restrictive of press freedoms, it’s surprising that the grip of control could be tightened any further. Yet, according to a new press release from the non-governmental organization Freedom House, that’s exactly what is happening. Freedom House says it is “dismayed by new Chinese Internet restrictions,” which […]
Last week’s news of a sizable and unprecedented subsidy for solar installations in China generated noteworthy commotion in the market, as Chinese solar companies’ share price soared as investors’ rush to snatch up solar stocks, followed by confusion over the terms of the subsidies, disenchantment at the likelihood of eligibility restrictions, and finally malaise as […]
A recent New York Times article explores a quizzical addition to the U.S. media scene: Chinese state-run media. Several, in fact the largest, state-controlled media plan to spend a small fortune in order to expand overseas. In the midst of what looks like a major crisis for journalists and readers, media companies and outlets left […]
China called for the creation of a new currency to eventually replace the dollar as the world’s standard, proposing a sweeping overhaul of global finance that reflects developing nations’ growing unhappiness with the U.S. role in the world economy.
Question: What happens when an 80% shareholder of a company decides that the $165 million in bonuses contracted to employees prior to the purchase of shares are an abuse of the over $170 billion given in taxpayer bailout? Answer: American International Group CEO, Edward Liddy, asks bonus recipients who received $100,000 or more to return […]
It’s no secret that North Korea and China are close. Of all Pyongyang’s neighbors, it has the most intricate and rosy relationship with Beijing. Today Chinese Premier Wen Jiabao welcomed North Korean Prime Minister Kim Yong-Il (not to be confused with Dear Leader Kim Jong-Il) to Beijing. The two men held a very cordial conversation […]
In a strange piece of spin, the New York Times says today that the financial crisis will wind up being good for China. It’s an unconvincing position to say the least. It’s true that, unlike the West, China has no trouble with currency exchange or stock markets, which are state regulated, or bank failure, because […]
On Sunday, Chinese authorties reported that the Chang’e-1 space probe made a successful and planned crash landing on the Moon. This is the first time any Chinese spacecraft has touched the Moon. China’s Xinhua state-controlled news service explains that the Chang’e probes are part of an extended mission aimed at eventually sending recoverable and manned missions to the Moon. Xinhua reports: