Tag Archives: China

Business/Economics, International, U.S.

What Economic Recovery? The truth is that Europe, not the U.S., is China’s biggest trading partner

As a matter of incompetence, or conspiracy, when the list of China’s top trading partners is presented, it shows the United States as the top dog.  But that’s misleading, because the European Union, as a whole, is not counted.

Instead, EU members are broken up into the individual member states.  If you look at the European Union as one trading unit, which it should be, then it’s Europe that is China’s number one trading partner.

Not only that, but the percent of trade between Europe and China has been going up.  This is more proof that China does not need the United States to be economically viable.

However, recently the Chinese General Administration of Customs announced a second straight month of decline in their trade surplus.  Lu Peijun, vice minister of the General Administration of Customs, said China’s trade conditions are deteriorating due to worldwide falls in demand, and rising domestic costs.

Business/Economics, International, U.S.

What Economic Recovery? Japanese fleeing to United States, China and Australia, in the millions

The number of Japanese leaving their country, in one year, has hit a record 1.1 million.  That’s according to the Japanese Foreign Ministry, which counted the number of Japanese who’ve officially become permanent residents of foreign countries.

The country of choice for most Japanese expatriates is the United States, with more than 388,000 becoming residents as of the end of 2010.

China is next with about 131,000, and Australia with about 70,800. The top three countries have remained unchanged since 2008.

Within the U.S., Los Angeles is the number one destination followed by New York City.

Business/Economics, International

What Economic Recovery? Tens of thousands of Chinese turn out to help the growing poor, by listening to a businessman sing

A Chinese businessman, upset with how many people are being left behind in China’s explosive economic growth, put on a charity concert, and was surprised by how many people showed up to help.

What’s even more amazing was that the only talent in the concert was the very same Chinese businessman.  He was hoping to get 6,000 people to show up, he got 20,000!

“It was packed. There were fans from Xinjiang, Gansu and Inner Mongolia, holding up posters.”-Chen Guangbiao, 43-year-old businessman and high-profile philanthropist

Here’s another surprise, it wasn’t money that was being donated: 2,000 pigs, 1,000 sheep and 113 tractors where given to the Bijie city government, to be donated to local farmers.

Chen Guangbiao says he will check up on the local government: “I’ve asked them to put distribution details online.”

International

Corporate Incompetence: Train employees beat to death the wrong man, in front of dozens of witnesses

In China, a good samaritan tried to stop a fight between train stewards and a disgruntled passenger.  He paid for it with his life.

According to more than 20 witnesses, after the good samaritan intervened more train employees showed up, including the train’s conductor.  Apparently they mistook the good samaritan as the passenger who was causing the fight.

The samaritan was grabbed by the neck and beaten about the head as he was hauled off the train.  An ambulance was called, but he was dead by the time it arrived.  No word on what will happen to the train employees, but police have taken at least 20 sworn witness statements.

Business/Economics, International

Global Economic Class War: China now has property tax, on the rich

For those of you who think things are the same all over the world, think again.

Until the beginning of this year China did not have property tax.  Now two regions/states have instituted property tax, officially it’s to try and curb inflation, and real estate speculation.

In Chongqing and Shanghai, a property tax has been imposed on high end real estate.  The lowest price at which taxes are charged is for properties that sell for 9,941 yuan ($1,554) per square meter.

In Chongqing, the tax applies to existing residential properties, while in Shanghai it falls only on properties that were purchased after its adoption date.

The new taxes are due in October, and those who fail to pay will be subject to fines, restrictions on their ability to go abroad, or exposure in the media.

Business/Economics, International, U.S.

What Economic Recovery? Before you blame China for job losses realize that China buys more U.S. made products than any other country

“Legislation that would increase tariffs on imports from China is unlikely to create any incentive for China to move expeditiously to modify its exchange policies. Rather, it would likely have the opposite effect and result in retaliation against U.S. exports into China.”-USCBC statement

The latest numbers show that not only does China hold the most U.S. bonds of any other foreign country, but China is also the biggest buyer of U.S. products!

According to the United States China Business Council (USCBC), which represents U.S. companies doing business with China, there was a U.S. $76 billion increase in U.S. products sold to China between 2000 and 2010!  So maybe we need to rethink the growing desire to slap large tariffs on Chinese products?

The USCBC also points out that even if Chinese made products stopped flowing into the U.S. it would not mean a return of U.S. jobs: “Much of what we import from China replaces imports from other countries, not products we make in the U.S. today.”-Erin Ennis, USCBC

So the United States finds itself in a conundrum: U.S. corporations love to ship off U.S. jobs to China.  China holds a lot of U.S. government debt.  China buys the most U.S. made products of any other country.  China is in a real good position to really hurt the United States economically if the U.S. government does anything to reduce Chinese made products coming in, or to reduce U.S. corporations from shipping off more jobs.  Sounds to me like this is proof of the short sightedness of our corporate and government leaders!

Business/Economics, International, U.S.

What Economic Recovery? U.S. airline pilots leave for jobs in China, being able to speak Chinese not required, but it sure helps

“I had been doing the same job for 20 years and have another 15 years to go.  I said to myself, ‘It’s too boring. Let’s do something else for a few years and then come back’.”-Roy Weinberg, Spring Airlines

Weinberg, quit his job with US Airways and moved his family of four to Shanghai, where he now works for Spring Airlines.

He is not alone. Many of his aviator friends are now flying for airlines in Chengdu and Beijing.  By the beginning of 2011, China was home to at least 1,300 foreign flight captains, according to the Civil Aviation Administration of China.

By 2015, China’s aviation industry is expected to need 18,000 more pilots, according to China Business News.  The reason why China is in short supply of airline pilots is that it takes ten years in China to become a qualified pilot.

A relatively young U.S. pilot can make decent money; Spring Airlines offers foreign pilots from $150,000 to $160,000 a year after taxes.

There is a major problem, most air traffic controllers in China don’t speak English: “What happened to me many times is that everybody around me is getting commands in Chinese, and I’m the only English speaking (pilot) in the air.”-Roy Weinberg, Spring Airlines

International

Wild Polio is back, spreading fast

“The WHO rates as ‘high’ the risk of further international spread of wild polio virus from Pakistan, particularly given the expected large-scale population movements associated with Umra and the upcoming Haj…in the coming months.”-UNWHO statement

The United Nations World Health Organization says Polio type 1 is spreading through Pakistan and China.

Wild polio virus type 1 (WPV1) is more dangerous than type 3 because it is more likely to cause paralysis and spreads more easily.  The disease can affect nerves and lead to partial or full paralysis.

WHO officials are concerned that Muslims from Pakistan who’re going on Haj, to Mecca, will spread the disease to the Middle East.

Chinese health authorities have begun investigations for any further cases and launched a mass vaccination campaign in the region.

 

 

Business/Economics, International, U.S.

World War 3: India & Vietnam to join forces against China, fight over South China Sea oil fields

Since the beginning of the year, tensions have grown over territorial rights to oil fields in the South China Sea.  Now Vietnam is making a deal with India, to counter China’s military might.

India and Vietnam agreed in Hanoi, on September 16, to strengthen security ties and jointly develop oil fields in the South China Sea.  China claims sovereignty over most of the South China Sea.

Recently the new Prime Minister of Japan, Yoshihiko Noda, indicated that his national security plan would involve taking territories that Japan believes is theirs. That includes islands in the South China Sea.

The South China Sea has potentially the largest oil reserves in the world (it’s the real reason the U.S. was at war in Vietnam).  China, Japan, Philippines and Vietnam (now along with India) have been rushing to develop the oil fields for their own use.

 

Business/Economics, International, U.S.

What Economic Recovery? China invests billions into America’s backyard, the U.S. is no longer a beacon of Hope

“China represents hope for the poorest nations of the world and its impressive development springs from its own resources…not exploiting or pillaging other nations.”-Orlando Hernandez Guillen, Cuban Vice Minister of Trade and Investment

China is fast replacing the influence of the United States on Caribbean countries.

“China has become an important source of foreign direct investment for us.”–  Edmund Bartlett, Jamaica’s Tourism Minister

The China Development Bank will issue U.S.$1 billion in loans to countries like Cuba, Jamaica, Barbados and the Bahamas.  China has already invested billions in Caribbean countries in recent years.

China buys nickel, sugar and other products from Cuba, and Cubans buy Chinese made cars.

China is planning to invest more than U.S.$400 million to revive a beachfront resort project in the Dominican Republic.

The Chinese are helping Jamaica build new ports, a conference center, highway projects and a cricket stadium.

If anybody remembers the Cold War, or knows that history, they would know that there was a time when the U.S. government would not tolerate Chinese involvement in “America’s backyard”.