China Set to Surpass US as Largest Manufacturer

(NEWSER) - The Chinese government is threatening to crash the American dollar by liquidating its $1.33 trillion in foreign reserves if the US dares impose trade sanctions to force a revaluation of yuan, reports the Telegraph. Two Communist Party officials have given interviews in recent days with stern warnings directed at the US that China is prepared to engage in an economic "nuclear option." More»

Apple supplier works to improve conditions following consumer outcry

(NEWSER) - Foxconn will bump workers' salaries by as much as 25% while decreasing the amount of overtime demanded of them, the company announced this weekend, in a bid to stem the tide of outrage against it and high-profile customers such as Apple, Hewlett-Packard, and Dell. The move is a victory for activists, but could also signal a bump in the prices of a host of gadgets, analysts tell the New York Times . More»

Thomas Friedman: But it's because I'm worried about us

(NEWSER) - China is mocking us. At this year’s World Economic Forum, they aired a cartoon in which a runner representing America fell over panting, while others teased, “He ate too many hamburgers.” And given China’s incredible growth, they have room to tease, says Thomas Friedman in today’s New York Times . But just when you think he’s about to go into one of his patented—and oft-criticized —diatribes on Chinese superiority, Friedman swerves. “I know, I know,” he writes. “With enough cheap currency, labor and capital—and authoritarianism—you can build anything.” More»

Consumed equivalent of 2,252 million tons of oil last year

(NEWSER) - China has passed the US as the world’s most energy-hungry country, according to new data from the International Energy Agency. China consumed the equivalent of 2,252 million tons of oil last year, about 4% more than the 2,170 million tons the US guzzled. The US is unlikely to catch up, the Wall Street Journal notes, because China’s energy consumption has grown by double digits for several years now. A decade ago, the country consumed just half the fuel the US did. More»

US problems won't be solved by mimicking other nations

(NEWSER) - America's present woes have revived the wrongheaded liberal tradition of believing that emulating other countries is the answer, writes Jonah Goldberg. People who suggested becoming more like the Soviet Union or Japan were wrong, and people like Thomas Friedman are just as wrong when they ignore obvious shortcomings to declare that the Chinese or French way is better, Goldberg warns in the Los Angeles Times. More»