Chinese economy

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China Blames Crisis in Latest GDP Slide

Growth at solid 9%, but down for 5th quarter in row as exports shrink

(Newser) - The dragon isn’t sick yet, but it’s definitely catching cold: China’s gross domestic product grew by an enviable 9% in the third quarter, but still failed to match last quarter’s result of 10.1%, the Guardian reports. The data mark the first time China’s GDP...

The Crisis Dwarfs $700B
 The Crisis Dwarfs $700B 
Oct 7, 2008 10:18 AM CDT

The Crisis Dwarfs $700B

A US-centric band aid can't quell global markets as confidence plunges

(Newser) - As the financial crisis continues to grow, the $700 billion bailout passed by Congress last week may be too little too late, the Washington Post reports. The plan may not begin relieving banks of toxic assets for another month, and, meanwhile, the crisis has gone global, making $700 billion seem...

China Faces Rocky Road in Keeping Up Growth

The gains of the past 30 years will be hard to maintain as workers age

(Newser) - The opulence of the Beijing Olympics highlighted just how far China has come since opening its economy 30 years ago—it soon will be the world’s third largest. But with the success comes a plethora of challenges, reports the Wall Street Journal. And chief among them is how to...

At 840M Viewers, China TV Wins Global Attention

Western companies line up to advertise on propaganda network

(Newser) - This year's Olympic opening ceremonies, perhaps the most watched television event in history, were a huge programming coup for CCTV, one of the main propaganda conduits for the Chinese government. CCTV has a larger audience than every major TV station in the US and Europe combined, writes the New York ...

China Set to Surpass US as Largest Manufacturer

Second place awaits after 100 years on top

(Newser) - China will surpass the US as the world’s No. 1 manufacturer by next year, the Financial Times reports. China, which last year accounted for 13.2% of manufacturing, will soon account for 17%, just ahead of the US, which has been the planet's dominant manufacturer for more than a...

China Is an Unlikely Superpower
 China Is an Unlikely Superpower 
OPINION
Jul 27, 2008 10:27 AM CDT

China Is an Unlikely Superpower

Despite Americans inflates sense of country's dominance

(Newser) - American pundits are constantly claiming that China will soon overtake the US as the world’s dominant power—but if you look at the facts, that’s just not true, writes John Pomfret in the Washington Post. “Dire demographics, an overrated economy, an environment under siege, and an ideology...

China's Economy Will Dwarf US
 China's Economy Will Dwarf US 
Jul 9, 2008 7:33 AM CDT

China's Economy Will Dwarf US

Twice the size of the US economy by 2050: report

(Newser) - China is the world's economic superpower of the future and will dwarf the financial might of the US, according to a new study by an American research organization. China's economy will surpass the US economy by 2035—and be more than double its size by 2050, predicts the report by...

Mother Nature's Wrath Creates Prosperity

Disasters spur economic growth, but at what cost?

(Newser) - Casualties aside, natural disasters may not be so devastating after all. Catastrophes like the recent earthquake in China destroy old buildings and roads, making way for new and improved infrastructure that may not have been created otherwise and pumping cash into the economy. In the long term, updated technology and...

Chinese, Enjoying New Clout, Chide US on Fiscal Policy

Officials blast US over subprime crisis, falling dollar, foreign investment

(Newser) - As the US economy struggles and its own booms, China is reveling in its newfound self-confidence, blasting American fiscal policy, the New York Times reports, and flaunting its own regulatory successes. Chinese officials have recently taken the US to task over the subprime mortgage crisis, the weakening dollar, and “...

Grueling Gaokao Tests China's College Seekers

Dreaded university entrance exam covers 12 years of study

(Newser) - At least 10 million high school students in China are taking the grueling gaokao, or "high test," to win a coveted spot at college. It’s a two-day ordeal that covers everything students have learned for a dozen years. It also shuts down neighborhoods, redirects traffic, and determines...

For Chinese Companies, US Is Prime Real Estate

'They don't want to miss this opportunity to bottom-fish in the US,' official says

(Newser) - For years, American investors have hungrily flocked to China’s massive market, but now the money’s flowing the other way, too, the Los Angeles Times reports. China invested $9.8 billion in the US in 2007, and not all in big government buys either. With real-estate and other costs...

Skyrocketing Yuan Hits Benchmark

Chinese currency's strengthening against the dollar could boost US inflation

(Newser) - For the first time since China unpegged its currency from America’s in 2005, a dollar bought less than 7 yuan at closing today in Beijing, the New York Times reports. Western countries protested for years the yuan was undervalued; its meteoric rise means Chinese goods are getting more expensive...

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...

2007: Asia's Banner Year
2007: Asia's Banner Year
OPINION
Dec 24, 2007 2:19 PM CST

2007: Asia's Banner Year

Bloomberg praises those who fuel the region's return to economic power

(Newser) - Asia's economies are soaring so mightily that Bloomberg columnist William Pesek is passing out awards for Asia's big players in 2007. They range from a “Money Talks” prize, for Arab and Asian leaders who bailed out Wall Street banks, to the “Howard's End” trophy, for Australian PM Kevin...

Recalls Will Increase 'Made in China' Prices

New quality standards are expected to pinch consumers' pockets

(Newser) - Following a series of high-profile toy recalls and international criticism over China's export standards, the the cost of merchandise bearing the "Made in China" is expected to rise at least 10% in the next year, the LA Times reports. "For American consumers, the big China sale over the...

China Threatens to Crash Dollar
China Threatens to Crash Dollar
Aug 8, 2007 5:04 AM CDT

China Threatens to Crash Dollar

(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...

Chinese Markets Surge to Record High

Investors fight off anxiety over US subprime woes

(Newser) - China’s securities markets recovered from Wednesday’s Pan-Asian slump and then some, surging to their third new record this week in today's trading. The Shanghai Composite Index climbed 3.5% and the Shenzhen gained 2.3% after the codependent Nikkei and Hang Seng tumbled Wednesday on concerns about the...

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