China

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For Hurting US Companies, World Supplies Band-Aid

In economic sea change, 'we need the money,' one US Rep. says

(Newser) - The subprime collapse has US financial institutions in uncharted waters—asking for help from foreign investors and governments, the Wall Street Journal reports. Citigroup, Merrill Lynch, and Morgan Stanley all have recently sought bailouts, a dramatic switch from a tradition that saw US banks coming to the “rescue of...

China May Scuttle $2B Citigroup Bailout

Sources say China's government is standing in the way of the deal

(Newser) - On the eve of Citigroup’s fourth-quarter earnings announcement, the Chinese government appears to have raised objections to China Development Bank's purchase of a $2 billion stake in the struggling financial giant, reports the Wall Street Journal. The proposed deal, reported by the Journal over the weekend, is part of...

Taiwanese Nationalists Win Big
Taiwanese Nationalists Win Big
Jan 12, 2008 12:25 PM CST

Taiwanese Nationalists Win Big

Party seeks reunification, while independence-seeking president reels from results

(Newser) - Taiwan’s China-friendly opposition party dominated parliamentary elections today, the BBC reports, dealing a blow to the hard-line president 2 months before his own poll. The KMT, which supports closer ties with Beijing, trounced the ruling DPP, winning 72% of the seats in the 113-seat chamber. President Chen Shui-bian, resigning...

Plasma TV Back From the Dead
Plasma TV Back From the Dead
Jan 11, 2008 6:58 PM CST

Plasma TV Back From the Dead

Finds niche in developing countries, but boom may not last

(Newser) - Plasma TV's rollercoaster ride continues as the technology given up for dead more than a year ago has made a booming sales comeback, Reuters reports. Demand in the developing world, especially in China, is driving the upswing. LCD technology seemed until recently to have trampled plasma, but it turns out...

Chinese Man Killed Over Cellphone Video

City inspectors beat 'citizen journalist' to death; official fired

(Newser) - More than 50 municipal inspectors beat to death an onlooker filming a confrontation between government officials and villagers in central China, CNN reports, sparking renewed criticism of China's press-freedom record. The head of the city administration bureau was fired today, reports the state news agency Xinhua, as authorities reacted quickly...

BlackBerry Still Expecting China Launch

Missed 2007, but RIM hopes high for last major Asian market

(Newser) - The BlackBerry didn't make it to China—the last major market in Asia to be cracked—in 2007, as expected, but Research in Motion isn't worried yet, Reuters says. The decision when to launch is in the hands of China Mobile, RIM's service partner, says Charles Liu, RIM's top exec...

Beijing Bans Plastic Bags
Beijing Bans Plastic Bags
Jan 9, 2008 10:03 AM CST

Beijing Bans Plastic Bags

China outlaws use, manufacture of thin, disposable bags starting in June

(Newser) - The Chinese government says it will prohibit stores from distributing free, disposable plastic bags starting this June, reports the AP. Amid growing fears about the environmental future of the world's largest nation, Beijing is asking people to use baskets or cloth carriers instead of the thin plastic bags that been...

China Moves to Restrict Online Video Sites

Impact of laws, slated to take effect Jan. 31, remains unclear

(Newser) - China appears set to clamp down on online video sites with a new set of regulations that restricts content and organization, the Wall Street Journal reports. The regulations, to take effect Jan. 31, require sites broadcasting online video to be owned or controlled by the state, and to censor and...

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power...

Tech Sales to China Raise Red Flags

Weapons experts say imports could upgrade military—or be sold

(Newser) - Chinese companies linked to the People’s Liberation Army were cleared to import sensitive high-tech equipment from the US after the Bush administration eased restrictions blocking the sale of technology with military applications, the New York Times reports. One company has ties to arms sales to Iran and Syria, claims...

China Braces for Fallout of Labor Law

New regs may drive manufacturers out in search for cheaper workers

(Newser) - Olympus, Nike, and other manufacturers operating on low margins may close up shop in China after the government’s new labor law protecting workers comes into effect today, reports Bloomberg. The law improves worker security, limits overtime, sets minimum wages, and makes it more difficult to hire temporary workers, among...

Yuan-Dollar Battle Continues
Yuan-Dollar Battle Continues
Dec 31, 2007 9:50 AM CST

Yuan-Dollar Battle Continues

Despite currency's growth, US criticism of Beijing endures

(Newser) - Despite the yuan's continued appreciation against the dollar this year, at nearly 7%—double its growth in 2006—critics say the currency needs to adjust even higher to balance China's trade surplus, reports the Wall Street Journal. In the US, China’s economic strength has become a standard concern on...

Investors Uncork Wild Wine Prices
Investors Uncork Wild Wine Prices
Dec 30, 2007 6:50 PM CST

Investors Uncork Wild Wine Prices

Internet, foreign funds make even second-tier wines pricier

(Newser) - Investors are uncorking a new area of speculation these days: fine wine. Thanks to the Internet, which has turned an elite hobby into a worldwide auction, prices are overflowing. Buyers can even throw money at vino investment funds and an electronic trading exchange based in London, which is up 39%...

China Allows Hong Kong to Vote in 2017

Enraged by delay, democracy activists condemn decision

(Newser) - Reacting to years of pro-democracy rallies in Hong Kong, China agreed today to let the territory elect a leader in 2017 and a legislature in 2020, BBC reports. Hong Kong Chief Executive Donald Tsang had lobbied Beijing for elections by 2012, but hailed today's news as a "hard-earned opportunity....

China Dumps Yangtze Dam Plan
China Dumps Yangtze Dam Plan
Dec 29, 2007 7:05 AM CST

China Dumps Yangtze Dam Plan

Huge dam project nixed but many more on the way

(Newser) - China has decided to scrap plans for a huge dam at Tiger Leaping Gorge on the Yangtze River, the Guardian reports. The dam would have left a popular tourist area underwater and forced 100,000 people from their homes. The decision is a rare victory for Chinese green activists, but...

Fukuda in China to Thaw Frosty Relations

After strain, Japanese PM's charm offensive delights Beijing

(Newser) - Yasuo Fukuda is in Beijing, where the Japanese PM is hoping to solidify improved relations between two countries with a troubled past.  In contrast to his two predecessors, Fukuda is a pro-Asian leader; as he reminds his Chinese hosts, his own father brought in the Japan-China peace treaty 29...

New Cisco Unit First Based Abroad
New Cisco Unit First Based Abroad
Dec 26, 2007 10:10 PM CST

New Cisco Unit First Based Abroad

Will aim to wire entire cities in Middle East, China, India from Bangalore HQ

(Newser) - Dozens of new cities are to be built in China, India, and the Middle East in the coming decade and Cisco Systems wants to network them top-to-bottom, the Financial Times reports. The networking equipment giant is setting up a new business center in Bangalore, India, as part of its push...

Hillary Was Adviser, Not Decider
Hillary Was Adviser, Not Decider
Dec 26, 2007 4:33 PM CST

Hillary Was Adviser, Not Decider

First Lady didn't handle intel but was a presidential sounding board

(Newser) - Hillary Clinton spent her 8 years in the White House informally advising her husband and jetting around the world mediating social crises, the New York Times says, but the first lady had little direct experience with war or terrorism. She didn’t do “the heavy lifting of foreign policy,...

Spoiled Chinese Kids Get Traditional Lessons

Self-made parents face badly behaved offspring

(Newser) - China's new millionaires have ridden the waves of the country's transforming economy, but not so their children, writes the Washington Post. Raised in privilege and coddled by parents who obeyed the country's one-child policy, the nation's "little emperors and princes" have little experience of hardship and spend money lavishly....

Russia's Gas Giant Faces Big Squeeze

Powerful Gazprom has too little oil to meet demands

(Newser) - Russia faces a threat to its international trump card as Gazprom—its powerful natural gas company—struggles to meet massive worldwide demand, Newsweek reports. The company gets much of its oil dirt cheap from former Soviet republics in Central Asia, then resells it a handsome profit to Europe. Now those...

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