China's Boom Economy

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Stories 61 - 77 of 77

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August 2007
- China's Africa Aid Has a Price
  
  newser | New York Times | Aug 21, 07 8:49 AM CDT
  
  As China increases its economic investment in Africa, locals are finding that the benefits of increased trade with the East comes at a price. In the third of a series of articles in the New York Times , workers at a Zambian factory describe how Chinese imports have undercut their market and driven them out of business. More »
- Chinese Seek Fortune in Africa
  
  newser | International Herald Tribune | Aug 17, 07 3:22 PM CDT
  
  A growing number of poor Chinese are flocking to Africa, hoping to cash in on the destitute continent’s infinite growth potential. China is building factories in eastern Africa, and trade between the two burgeoning economies ballooned to $55 billion last year. The eastern entrepreneurs are diving into every sector of the African market—from diamonds to ice cream—but oil is particularly piquing their interest. More »
- China Threatens to Crash Dollar
  
  newser | Daily Telegraph (UK) | Aug 8, 07 5:04 AM CDT
  
  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 »
- Chinese Markets Surge to Record High
  
  newser | Associated Press | Aug 3, 07 12:15 PM CDT
  
  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 stability of the subprime-backed US Market. More »
July 2007
- China's Surplus Soars to $26.9B
  
  newser | Bloomberg | Jul 10, 07 2:59 PM CDT
  
  China's trade surplus surged to a record $26.9B in June, an 87% increase since last year. Economists attribute the trade gap to China's significantly—as much as 40%—underpriced currency, the yuan, reports Bloomberg. Half of China's surplus is with the US, which recently began preparing legislation to sanction countries that deliberately use a weakened currency to gain an unfair advantage. More »
- Chrysler Plunges Into China Trade
  
  newser | MarketWatch | Jul 4, 07 12:29 PM CDT
  
  In a cost-cutting move, Chrysler will introduce cars produced by China's biggest automaker to the US market by late 2009. Chrysler and Chery staged a signing ceremony today in Beijing to allay fears about the American auto giant's new ownership not backing the deal, MarketWatch reports. The first vehicles will hit Latin American and Eastern European markets within a year. More »
June 2007
- Hong Kong Poised to Become Asia's Big Apple
  
  newser | Newsweek | Jun 30, 07 7:12 PM CDT
  
  Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political landscape as well: a rising middle class is clamoring for cleaner air and universal suffrage. More »
- Murdoch Kowtows to China
  
  newser | New York Times | Jun 26, 07 8:45 AM CDT
  
  Rupert Murdoch's imperial ambitions in China have been marked by relentless cozying to its communist regime—motivated by equal parts opportunism and sinophilia—the Times reports. Murdoch's China outlets have toed the party line energetically, and the mogul, whose wife is a high-powered mainlander, has even personally lashed the Dalai Lama. More »
- Chinese Pork Prices Soar
  
  newser | New York Times | Jun 8, 07 8:23 AM CDT
  
  This price of pigs and pork in China has skyrocketed this year, nudging up domestic inflation and triggering worries about a domino effect in worldwide markets. The government is scrambling to react to pressure on the price of the vital commodity, the Times reports, even weighing the possibility of releasing part of the intriguingly named strategic pork reserve. More »
- China's Stock Market Drops 8%
  
  newser | Financial Times (UK) | Jun 4, 07 1:20 PM CDT
  
  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 »
May 2007
- Chinese Stocks Plummet After Trading Tax Tripled
  
  newser | New York Times | May 30, 07 8:53 AM CDT
  
  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 »
- China's Stock Market Soars to Record
  
  newser | BBC | May 28, 07 8:17 PM CDT
  
  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 »
- China Markets Turn on Lucky Numbers
  
  newser | Wall Street Journal | May 24, 07 10:59 AM CDT
  
  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 »
- China Deals on Finance, Skips Currency
  
  newser | Bloomberg | May 23, 07 4:59 PM CDT
  
  Talks between American and Chinese economic officials thudded to a close today, offering mild changes to the financial sector in lieu of major currency reform. The deal hammered out by Treasury Secretary Hank Paulson and China's vice-premier Wu Yi promise foreign financial companies more access to Chinese markets and allows American investors to purchase larger amounts of Chinese stock. More »
- China to Buy $3B Stake in Blackstone
  
  newser | Financial Times (UK) | May 21, 07 7:18 AM CDT
  
  The Chinese government will buy a 9.9% stake in Blackstone, the US private equity fund that's about to launch its IPO. The $3 billion purchase of nonvoting shares, the first time China has invested its enormous foreign reserves in commercial stock, is meant to exploit a private equity market booming almost as much as China itself. More »
- China Loosens Up on Yuan
  
  newser | Bloomberg | May 18, 07 10:40 AM CDT
  
  Just days before a meeting with US Treasury Secretary Henry Paulson, China is taking baby steps toward letting its currency trade more freely. The government also raised interest rates and the reserve on bank loans today, signaling concern over the country's red-hot economy. China's trade surplus—which some American politicos say the undervalued yuan fuels—rose 74% last year. More »
March 2007
- China Embraces Private Property
  
  newser | Economist | Mar 9, 07 8:57 PM CST
  
  China's burgeoning middle class will be feeling a little more secure next week, when the National People's Congress is expected to pass the country's first property-rights bill. The measure has become a lightening rod for criticism of China’s leadership, with communists using it as evidence that the government is abandoning the largely rural poor, and urban property owners clamoring for faster economic reform. More »