China

(Newser) - China's stock market plummeted more than 8% today in one of the biggest drop-offs of the decade. A trading tax increase intended to cool a boom that drove stocks up over 50% last week has set off widespread worry. But unlike the February 28 skid that depressed worldwide markets, today's slump appeared to have little effect on other Asian exchanges. More »

(Newser) - President Bush offered a groundbreaking—if decidedly vague—call this morning for a global plan to combat climate change, continuing to reposition himself on the issue. Bush asked 15 nations, including the G8, China, and India, to create "long-term global goals” on emissions that will replace the Kyoto Protocol when it expires in 2012. More »

(Newser) - Chinese stocks plummeted today, after the finance ministry tripled a tax on trades in an effort to deflate a worrisome stock market bubble. A week ago, the ministry publicly pledged not to raise the tax. The reversal opens the government to heavy criticism if it triggers a serious rout. More »

(Newser) - China's former top food and drug watchdog was sentenced to death today after being convicted of corruption and dereliction of duty. In the midst of an international uproar over food and pharmaceutical standards, the government found that Zheng Xiaoyu, 63, who was forced out in 2005, accepted more than $850,000 in bribes to approve questionable drugs and medical licenses. More »

(Newser) - Despite Alan Greenspan’s warning that the market was due for a correction, Shanghai’s stock market index topped 4000 today. So far this year the Chinese stock market has doubled. Since 2006 it has quadrupled. The main driving force behind the surge has been an odd form of democracy. More »

(Newser) - President Bush struck a conciliatory tone in yesterday's congress with Chinese Vice Premier Wu Yi, despite thickening indignation over Chinese policies. The Journal reports that the White House meeting tiptoed around China's tolerance of copyright piracy, the export of tainted food products, and Beijing's increasingly worrisome nuclear program. More »

(Newser) - President Bush called for tougher sanctions against Iran today, a day after a new report showed the country is continuing its nuclear enrichment programs. Bush vowed to form a multinational bloc with Russia, China, and European allies to pressure Iran into ceasing its nuclear aspirations, reports the Washington Post . More »

(Newser) - The Journal probes the Chinese practice of picking stocks based on traditional lucky numbers. In a country where middle-class novices dominate the market, new investors snap up stocks with codes that include auspicious 8s, and steer clear of those with ominous 4s. That worries analysts aware of the ripple effect of Chinese trading. "This is a reflection of a very immature market," says a JPMorgan sinologist. More »