China

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January 2008
- Taiwanese Nationalists Win Big
  
  BBC | Jan 12, 08 12:25 PM CST
  
  (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 as the DPP’s chief, said he was “shamed” by the outcome. More »
- Saudi Prince, Chinese Bank to Back Citigroup
  
  Wall Street Journal | Jan 11, 08 6:02 PM CST
  
  (Newser) - A Saudi prince and one of China's government banks are expected to invest billions in Citigroup, the Wall Street Journal reports today. The China Development Bank is expected to pump in $2 billion, sources said; the amount billionaire Prince Alwaleed bin Talal would front is yet to be determined, but would need to be below 5% of Citigroup's $140 billion value to avoid regulatory issues. More »
- Chinese Man Killed Over Cellphone Video
  
  CNN | Jan 11, 08 3:37 PM CST
  
  (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 to forestall larger protests. The incident has set Chinese chat rooms ablaze. More »
- Oil Sends Trade Deficit to 14-Month High
  
  Bloomberg | Jan 11, 08 11:15 AM CST
  
  (Newser) - The trade deficit widened 9.3% to $63.1 billion in November, despite a healthy growth in exports. With the dollar down, and demand for US goods rising in Asia and Latin America, exports moved at a healthy clip. But spending on imported oil overshadowed everything else, Bloomberg reports. “It comes down to three things: oil, oil, and oil,” said one economist. More »
- BlackBerry Still Expecting China Launch
  
  Reuters | Jan 11, 08 10:37 AM CST
  
  (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 in China. "From my perspective, everything is according to plan." More »
- Beijing Bans Plastic Bags
  
  Associated Press | Jan 9, 08 10:03 AM CST
  
  (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 dubbed "white pollution," as they clog garbage dumps and litter the landscape. More »
- Traders Gamble on $200 Oil
  
  Bloomberg | Jan 8, 08 6:24 AM CST
  
  (Newser) - You thought $100 a barrel was high. Options to buy oil for $200 a barrel have grown tenfold on the Nymex exchange in recent weeks, Bloomberg reports. Speculators use oil futures to bet on expected price hikes. While $200-a-barrel options remain only a small proportion of the total, the number has been going up as traders gamble that events could cause oil prices to climb even higher than record highs. More »

Stories

Taiwanese Nationalists Win Big

Saudi Prince, Chinese Bank to Back Citigroup

Chinese Man Killed Over Cellphone Video

Oil Sends Trade Deficit to 14-Month High

BlackBerry Still Expecting China Launch

Beijing Bans Plastic Bags

Traders Gamble on $200 Oil