Archive

Reuters blog archive

from George Chen:

A turning point for China?

By George Chen
The opinions expressed are the author’s own.

Is the train crash tragedy becoming a turning point for China's political and economic development?

Frustrations among the Chinese public have been growing rapidly -- at least on the internet if not yet in the streets. People are particularly unhappy with the way the Ministry of Railways has dealt with the train accident, which so far has cost 39 lives.

It has now turned into a full-blown crisis. Shen Minggao, chief Greater China economist for Citigroup, said in his latest research note to clients that the train tragedy could become "a turning point in the China growth model."

"Authorities may choose intentionally to slow GDP growth gradually but firmly to 7-8 percent in following years and spend more time to fix the problems created by artificial fast growth," said Shen in the note.

from George Chen:

Not just an accident

By George Chen
The opinions expressed are the author’s own.

We’ve talked about whether China's economy will have a soft or hard landing. In fact, what China needs is a pause. Lots of things in China may be moving way too fast. Including our trains.

On Saturday, at least 35 people died when a high-speed train smashed into a stalled train in eastern Zhejiang province, raising new questions about the safety of the fast-growing rail network. For a Reuters story, click here.

from FaithWorld:

Vatican excommunicates pro-govt Chinese Catholic bishop, criticizes Beijing

(Christmas mass at a Catholic church in Beijing December 24, 2009./David Gray)

A Chinese bishop ordained without papal approval has been excommunicated from the Catholic Church, the Vatican has said, bringing relations between the Vatican and Beijing to a new low. In a statement branding Thursday's ordination illegitimate, the Vatican said Pope Benedict "deplores" the way communist authorities are treating Chinese Catholics who want to remain faithful to Rome instead of to the state-backed Church.

China's state-sanctioned Catholic Church ordained Joseph Huang Bingzhang as bishop in Shantou city in southern Guangdong province on Thursday despite warnings he would not be recognized because the city has a Vatican-approved bishop.

from FaithWorld:

Obama meets Dalai Lama at White House, China sees U.S. interference

(The Dalai Lama arrives to deliver A Talk for World Peace on the West Lawn of the U.S. Capitol in Washington July 9, 2011/Yuri Gripas)

China accused the United States on Sunday of "grossly" interfering in its internal affairs and seriously damaging relations after President Barack Obama met exiled Tibetan spiritual leader the Dalai Lama at the White House. Obama met the Nobel Prize laureate for 45 minutes, praising him for embracing non-violence while reiterating that the United States did not support independence for Tibet.

from George Chen:

Is Beijing brewing something?

By George Chen
The opinions expressed are the author’s own.

There are growing signs that something is brewing in relation to China's foreign exchange rate regime.

When Hong Kong traders returned from the Easter break, many were surprised to be told by their mainland colleagues about growing market speculation that Beijing might be planning a one-off deal to lift the value of the yuan -- some say by as much as 10 percent.

from FaithWorld:

Chinese police break up planned service by evicted Protestant church

()

(Uniformed and plainclothes police surround a man at the site of a proposed church gathering at a shopping area in Beijing April 10, 2011/David Gray)

Hundreds of Chinese police scrambled to prevent a planned outdoor service by a "homeless" church on Sunday, shoving people into vans and buses in the latest show of the Communist Party's determination to smother dissent and protests. The Shouwang Church, a Protestant group with about 1,000 members, had urged members to gather for the outdoor service after they said official pressure forced the church out of a place of worship it had been renting.

from FaithWorld:

Beijing “house church” faces eviction in tense times in China

(Christians attend Sunday service at Shouwang Church in Beijing's Haidian district October 3, 2010. Shouwang is a "house church", a church that is not officially sanctioned by the government and houses smaller congregations. These churches are reported to be getting increasingly popular in the Chinese capital. REUTERS/Petar Kujundzic)

(Christians attend Sunday service at Shouwang Church in Beijing in this file photo from October 3, 2010/Petar Kujundzic)

Tears flowed at one of Beijing's biggest "house" churches when some 300 Chinese Christians prayed on the last Sunday before they face eviction from their makeshift place of worship, pressed by officials wary about religion outside of their grip. The Shouwang Church, with about 1,000 members, is one of the biggest Protestant congregations in Beijing that has expanded beyond the confines of churches registered and overseen by the ruling Communist Party's religious affairs authorities.

from George Chen:

Chinese bankers, overconfident?

By George Chen
The opinions expressed are the author’s own.

Are Chinese bankers overconfident? Or perhaps global investors are too suspicious of China?

A couple of days ago, Bank of China Chairman Xiao Gang dismissed growing market concern, in particular from the West, that a debt crisis could be brewing given the rising level of bad assets in China’s banking system.

from George Chen:

My Shanghai holiday

food

By George Chen
The opinions expressed are the author’s own.

While Chinese lawmakers gathered in Beijing for the annual parliamentary meeting, I returned to my hometown Shanghai for a holiday.

The  lawmakers are keen to discuss China's macroeconomic matters these days, but I am more interested in being a microeconomic observer. For example, how much does an apple cost in Shanghai these days?

from Russell Boyce:

Asia – A Week in Pictures February 13, 2011

First, congratulations to Pakistan Chief photographer Adrees Latif and Bangladesh based photographer Andrew Biraj for their competition awards this week.  Adrees is the winner of the photojournalism category of the ICP Infinity Awards 2011 for his pictures shoot during the floods in Pakistan last year.  Andrew won third prize in the singles category of daily life in the World Press Photo Awards for his picture of an overcrowded train in Bangladesh.

PAKISTAN-FLOODS/

Marooned flood victims looking to escape grab the side bars of a hovering Army helicopter which arrived to distribute food supplies in the Muzaffargarh district of Pakistan's Punjab province August 7, 2010. Pakistanis desperate to get out of flooded villages threw themselves at helicopters on Saturday as more heavy rain was expected to intensify both suffering and anger with the government. The disaster killed more than 1,600 people and disrupted the lives of 12 million.  REUTERS/Adrees Latif

  •