China's Boom Economy

Stories

Stories 21 - 40 of 89

<< Prev 1 2 3 4 5 Next >>

June 2008
- Axis of Wealth Shifting East
  
  Wall Street Journal | Jun 25, 08 2:43 AM CDT
  
  (Newser) - Nations once known for extremes of poverty—China, India and Brazil—are now producing more of the world's millionaires and super rich than ever before, according to a new study of the globe's wealthiest entrepreneurs. The US is losing ground to emerging markets when it comes to producing personal wealth, reports the Wall Street Journal . More »
- China Jacks Up Energy Prices
  
  Wall Street Journal | Jun 19, 08 1:13 PM CDT
  
  (Newser) - China will raise domestic energy prices starting tomorrow, the Wall Street Journal reports, with gas and diesel costs jumping 18%. China’s heavily subsidized fuel is still cheaper than international rates, and the move may be an attempt to appease foreign governments, who blame Beijing's intervention for letting demand rise unchecked in the world's second-largest oil consumer. More »
- Chinese Embrace SUVs, Hummers as Status Symbols
  
  Financial Times (UK) | Jun 18, 08 7:00 PM CDT
  
  (Newser) - Demand for gas-guzzling SUVs keeps growing in China, where the vehicles have become status symbols. Even Hummers are selling fast, despite sky-high oil prices, the Financial Times reports. "There are plenty of other sources of pollution than cars, and life is short so we should enjoy ourselves anyway," says a Beijing executive. More »
- US Companies Set Up Shop in Vietnam
  
  New York Times | Jun 18, 08 9:53 AM CDT
  
  (Newser) - Foreign manufacturers invested $83 billion in China last year, keeping it at the top of the list of overseas producers. But a confluence of circumstances—high inflation, changing government policies, and, above all, rising wages—have led corporations to start looking elsewhere in Asia, the New York Times reports. The shift to other parts of Asia, especially Vietnam, reflects a "China-plus-one" strategy, in which multinational corporations diversify their manufacturing operations. More »
- Chinese, Enjoying New Clout, Chide US on Fiscal Policy
  
  New York Times | Jun 17, 08 8:16 AM CDT
  
  (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 “discriminatory” attitudes toward foreign investment, showing unusual bravado in the run-up to today’s economic talks between the countries. More »
- Grueling Gaokao Tests China's College Seekers
  
  Slate | Jun 8, 08 7:06 AM CDT
  
  (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 which kids grab the 5.7 million university openings available in 2009. More »
May 2008
- Who Cares Who We Talk to?
  
  New York Times | May 21, 08 1:42 PM CDT
  
  (Newser) - Though politicians and pundits alike are caught up in which foes the US should or shouldn't be reaching out to, Thomas Friedman, in the New York Times , points out that few world leaders of any stripe are sitting by the phone waiting for our call. Waning American influence and the rise of new powers in the developing world and outside the state system worry Friedman much more. More »
- Asia Financiers Looking Askance at Western Banks
  
  Economist | May 16, 08 4:30 PM CDT
  
  (Newser) - Bankers and regulators across Asia have grown wary of the big US banks they once invited to underwrite major moves, the Economist reports. One Chinese regulator described the West’s big banks to the magazine as “shit,” among signs the East no longer trusts the West’s wisdom, or its regulation model, in the wake of the subprime collapse and the resulting credit crunch. More »
- China Plunges Into Commercial Aviation
  
  BBC | May 12, 08 8:45 AM CDT
  
  (Newser) - Hoping to meet the demand of its burgeoning airline industry, China has launched a commercial aircraft manufacturing company with $2.7 billion in seed money, reports the BBC. China Commercial Aircraft should help the country rely less on Airbus and Boeing as its passenger industry expands. Chinese airlines will need 2,650 additional aircraft in coming years, experts say. More »
- Asia Needs Funds to Battle Food Crisis
  
  Reuters | May 5, 08 4:40 PM CDT
  
  (Newser) - Asia need funds fast to prevent billions of people from facing severe hunger, says the region's development bank. The bank today appealed for "money and ideas" to stave off poverty in the wake of rice and wheat prices doubling over the past year, reports Reuters. "The global fight against poverty will be won or lost in our region," said the bank's president. More »
- For Chinese Companies, US Is Prime Real Estate
  
  Los Angeles Times | May 5, 08 1:14 PM CDT
  
  (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 Time s 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 fairly low and many states keen to create new jobs, small businesses are finding a good fit. More »
- Capital Ambition Feeds Beijing's Building Boom
  
  New York Times | May 2, 08 12:42 PM CDT
  
  (Newser) - The new Terminal 3 at Beijing airport—the largest building in the world—is not only the gateway for visitors streaming into the Chinese capital for this summer's Olympics. It's also the capstone for an unprecedented building program that has transformed Beijing into a world-scale architectural showcase. The New York Times looks at how China is translating its rapid growth and political ambition into such projects—and hoping the world notices. More »
April 2008
- Macau Casinos Double Vegas' Take
  
  MarketWatch | Apr 21, 08 1:19 PM CDT
  
  (Newser) - If you thought Las Vegas was gambling’s capital city, think again. Casinos in Macau didn’t just beat Nevada’s finest this quarter, they lapped them. Macau’s gambling revenues jumped 62% from a year ago, doubling Vegas’ take over that stretch—though the casinos, which can't lend money directly to gamblers, have to split some of the take with middlemen, MarketWatch reports. More »
- 4 Months to Go: Is China Ready for Spotlight?
  
  Chicago Tribune | Apr 13, 08 4:11 PM CDT
  
  (Newser) - The last-minute drama brewing in the runup to this summer's Olympic Games is of a more global and more personal nature than the infrastructure issues of Olympics past—and Chinese leaders are bristling under the scrutiny, the Chicago Tribune reports. But pride in the country's hosting gig remains strong, even among the impoverished workers who could never afford a ticket. More »
- Skyrocketing Yuan Hits Benchmark
  
  New York Times | Apr 10, 08 2:34 PM CDT
  
  (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 in the US—raising inflation fears. More »
March 2008
- Chinese Law Muddles Microsoft Bid for Yahoo
  
  New York Times | Mar 28, 08 12:24 PM CDT
  
  (Newser) - A new anti-monopoly law in China could interfere with Microsoft’s bid for Yahoo, the New York Times reports. Because Yahoo owns 40% of Alibaba, China’s biggest e-commerce business, Beijing could demand approval of the deal along with the US and the EU. “I don’t think anyone has worked through the issue of where an Internet merger should be reviewed,” said a law professor. More »