The city of Beijing is raising wages for people working in the city.
Already wages have gone up an average of 4.4%. City officials say their goal is to increase wages by 7%.
Category Archives: International
No Economic Recovery for U.S.: China offers U.S. college students free education
“We hope the scholarships will encourage American students to delve into China studies and other subjects in China in earnest.”-Zhang Jin, education exchange program
China’s Ministry of Education is ready to offer full university scholarships to students from the United States. The program actually started last year, and was officially announced in April of this year.
China has a plan to attract 500,000 foreign students to its universities by 2020. The plan also supports U.S. President Obama’s desire to send 100,000 U.S. students to China (so much for Obama’s support of U.S. higher education).
If you want to check out the full scholarship go to www.studyinchina.edu.cn , click on “english” to get the English version of the site.
No Economic Recovery for U.S.: Desperate for sales, Lockheed pushes Japan to buy controversal F-35 jet
Steve O’Bryan, vice president for F-35 business development at Lockheed Martin Aeronautics, was in Japan, trying to push them to buy the controversial jet.
The main reason the F-35 is so controversial is that it’s taken far longer to develop, and it has cost U.S. taxpayers far more than originally estimated.
O’Bryan is hoping Japan will buy the F-35 to replace it’s aging F-4 Phantom 2 jets. Japan is one of the last countries still using the F-4. Also, some of Japan’s newer F-2 jets (a bigger version of the F-16) were destroyed by the March 11 tsunami.
Japan also uses the F-15 Eagle. In 2009 U.S. officials tried to convince Japan to buy the F-22 Raptor, but that deal fell through.
Lockheed Martin is selling the F-35 on the grounds that Japan needs to meet the growing threat from China’s latest aircraft designs. The problem is that Japan is already developing a stealth fighter of its own.
Lieutenant General Hideyuki Yoshioka says Japan’s prototype stealth fighter is expected to make its first test flight in 2014, about the same time that Lockheed Martin thinks it will be ready to finally mass produce the F-35. So much for the U.S. trying to sell the F-35 to Japan.
No Economic Recovery for U.S.: Apple profits way up, it’s all about China, baby!
Apple Incorporated posted a huge 124% year to year profit, for the second quarter of 2011. But most of those sales weren’t made in the United States.
Chinese consumers are going nuts for Apple products. In fact, Apple’s 2011 sales in China are, so far, six times what they were in 2010.
Two reasons for Apple’s exploding sales in China: One is that scalpers were buying up everything in the stores, creating a shortage (and of course selling Apple products for much more). The second reason is that Apple Inc is investing big time into China: “In the long run, Apple can likely increase its market share since it is gaining sales momentum by investing more resources into China, which it had not been doing previously.”-Kitty Fok, IDC Asia-Pacific.
What Economic Recovery? U.S. corporations put the brakes on investing into China, no money to invest
“Under such circumstances, both private U.S. companies and governments in different levels are not capable of investing significantly in China. Somehow they are looking for the investment from China to help them boost their own economies and low-employment rate.”-Zhang Qizuo, economist Chengdu University
The Chinese Ministry of Commerce says investments coming from the United States are way down, compared to last year. It’s a sign of how bad the U.S. economy is, and the growing discontentment with U.S. citizens in seeing U.S. jobs go to China.
“Large-scale U.S. companies are also under domestic pressure in ‘giving jobs to Chinese’, therefore, they have to consider the feelings of approximately 14 million Americans and deliberately delay or even cut some investment plans in China.”-Zhang Shiqing, economist Nankai University
Overall U.S. investments in China dropped from January of last year, to June of this year, by a big 22.32%. That’s a big drop, but in dollar amounts, the U.S. still invested $1.68 billion.
European countries, and other Asian countries, are still on the plus side of investing into China.
Another factor in the drop in U.S. investments is inflation in China, which includes the cost of labor. Labor cost are going up in China, and in the U.S. labor costs are going down, no thanks to Union busting and high unemployment.
I can’t think that this is helping cut unemployment in the United States, after all there has been no change in the overall unemployment situation, even though there’s been a 22.32% drop in investments into China. Despite what Chinese economist think, I think the real reason is that U.S. corporations, and government, have put the brakes on investing into China, is because they’re out of money to invest.
Evil Cops & Rupurt Murdoch: Scotland Yard boss quits, another arrest, was this more than just unscrupulous journalists wanting a scoop?
“I have taken this decision as a consequence of the ongoing speculation and accusations relating to the Met’s links with News International at a senior level.”-Paul Stephenson, Metropolitan Police Commissioner
The boss of the Met Police, aka Scotland Yard, announced he’s quitting. A few days ago he acted like this thing with Rupert Murdoch’s various media outlets was minor, and involved only a few managers at various newspapers, and a handful of evil cops. Turns out it’s much bigger.
Also, remember Rebekah Brooks? She’s the former CEO of Murdoch’s News International, and a former editor of the News of the World. A couple of weeks ago she acted like it was no big thing, then suddenly quit last week, but not before reportedly telling her underlings that things were going to get much worse. Now she’s been arrested.
Brooks is the eighth person arrested in connection with the phone-hacking probe and the fourth arrested in the police bribery investigation.
What’s really troubling about this phone hacking scandal is that it might have been done with the help of the British police. British cops were willing to take bribes to give out information to help Murdoch’s “fair and balanced” news organizations. Why would cops be so willing to sell such information to the media, especially Murdoch owned media outlets?
Even here in the United States there is enough cause for concern that the FBI is investigating such Murdoch owned media outlets as Fox News, and the Wall Street Journal, for at least attempting to do the same thing here. Also, the U.S. Department of Justice is now investigating.
Is the Rupert Murdoch’s media empire really just a huge covert spy agency? Don’t think it’s not possible. History shows that the U.S. Central Intelligence Agency (CIA), and British intelligence agencies (SS aka MI5, SIS aka MI6, etc) have set up fake corporations purely for the purpose of spying on people and governments. Just one example; anybody remember the fake CIA transport airline “Air America”?
What Economic Recovery? Chinese Housing Bubble about to explode: Property Loans halted
“You’d better prepare to pay 40% of your home price as down payment, because commercial banks are going to ask more for a property loan.”-Gong Hang, bank official
First the Chinese government created a new income tax schedule that meant more people were excused from paying taxes, but left them potentially unable to buy a home (due to not having the required tax documents). Then they ordered down payments to be increased, or mortgage interest rates must be increased (some banks did both). Now, banks are just flat refusing to issue anymore property loans.
In what’s called 2nd and 3rd tier cities, in China, banks are refusing to issue anymore loans for property: “We will not accept property loan applications at present, even if it is from a first-time home buyer.”-unnamed bank official
If you think paying 40% down on a home is outrageous, wait ’till you read this: 40% down is for first time home buyers, if you’re buying a home for the second time Chinese banks now want 50-60% down.
Bank officials say it’s because the Chinese government ordered banks to hold onto their money, by not lending it out. This is an attempt to control inflation, which Chinese officials are fearing could get out of control.
Rupert Murdoch scandal hits the stock market, Dow Jones boss quits, FBI investigating possible phone hacks in the United States
One reason why the mainstream media is so into reporting the stock market; Rupert Murdoch owns the stock reporting company Dow Jones. Tonight, July 15 U.S. time, the CEO of the Dow Jones quit.
Les Hinton, the boss of Murdoch’s Dow Jones & Co stepped down, as the British phone hacking scandal surrounding Murdoch’s News Corp spread to the United States. The Federal Bureau of Investigation is now looking into similar acts here in the U.S.
Already the CEO of Murdoch’s News International, Rebekah Brooks, resigned. Brooks was also the editor of the News of the World, the newspaper implicated in the scandal.
More and more British media outlets, owned by Murdoch, are being implicated for the same thing; phone hacking and bribing police and politicians for confidential information. Murdoch’s News Corp controls a multitude of media outlets around the world, and he controls the Dow Jones.
Why did Les Hinton, the boss of the Dow Jones, quit? It could be because he used to be the chairman of Murdoch’s News International, when all the alleged criminal acts took place.
British media has reported that Rebekah Brooks made an unofficial statement to employees of the News of the World, that things are going to get only worse, as more information about the goings on inside Murdoch’s News Corp are revealed.
A U.S. corporate governance analysts said the same thing, only officially: “There is going to be a constant drip, drip, drip of more information coming out that is simply going to get worse and worse.”-Nell Minow, GovernanceMetrics
Pacific Ring of Fire: 3rd volcano erupts on Indonesian island
For the third time this year, a volcano is erupting in Indonesia. This time it’s the Mount Lokon volcano, on the same island as two other volcanoes; Sulawesi island.
This time at least 4,600 people were forced to evacuate. In March, Mount Karangetang erupted, then on July 3 Mount Soputan erupted. Mount Lokon, Soputan and Karangetang are all on the Sulawesi island chain.
The last time Mount Lokon erupted was in 1991.
English Queen rips off British taxpayers
“It does highlight the fact that the Palace was trying to pull the wool over people’s eyes last week.”-Graham Smith, anti-monarchy organization know as ‘Republic’.
Despite the belief, in the U.S., that the Royal Family in the United Kingdom are just figure heads, the Royal Family commands true Royal Power, and it’s the British taxpayers that pay for it.
The Queen of England is just a figure head when it comes to the larger Commonwealth, but in the United Kingdom she reigns supreme: She is the Governor of the Church of England and Scotland. She is the Head of the Armed Forces. She opens every yearly session of Parliament by dictating the agenda. She is the one who signs new laws, not the Prime Minister.
Now the part of the British Parliament, know as the House of Commons (representing the non-lorded class of people), has just released a financial study of the taxes paid to the Royal Family in the past year. They discovered that the Queen ripped off British taxpayers by at least 4 million pounds ($6 million).
Last week the Royal Family officially stated that they got only 32.1 million pounds, but it turns out they actually got 36.2 million pounds ($52 million). On top of that the House of Commons investigation (conducted by the Commons Library) revealed other expenses, paid by taxpayers, that were not accounted for by the Royal Family.
Last year’s estimated cost of the Royal Family, to the British taxpayers, was about 202 million pounds ($326 million). The Royal Family gets taxpayer money from several programs called Grants. The biggest one is called the Sovereign Grant, and is guaranteed never to decrease.
People of the United States should realize what the Royal Family is doing now is basically what the Royal Family did to push the American colonies to declare independence in 1776, leading to the Revolutionary War. Back then King George 3rd was ripping off the American colonies by making them pay taxes with no representation, and no return benefit (just like our grand U.S. government is doing to us now).