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from MediaFile:

Rupert Murdoch: You call it free news, I call you ‘kleptomaniac’

Lest anyone doubt the thrust of Rupert Murdoch's speech on Thursday (or was it Friday? I'm losing track of time zones) at the World Media Summit in Beijing, it was all about paying for news -- as in: You're going to pay for news, and if you think it shouldn't cost you anything, you're a "flat-earther" and a "kleptomaniac."

For those of you accustomed to the News Corp CEO's occasional verbal ramblings and hints of ghosts of suggestions, this was a departure. He has gone on the record in great detail about his thoughts regarding paid news, but this is the first time that I recall him using fightin' words like "flat-earther."

Murdoch also "urged the Chinese government to take full advantage of the country's creative potential by opening the door to media competition and ensuring that intellectual property is protected," according to the speech and the press release, but let's be clear -- the message that resonated was: "You're going to pay for news as long as we need to pay people to report it."

Here's the Reuters take, "leding" on China.

The New York Times's David Carr throws in some similar comments from the head of The Associated Press, and says that it and News Corp are "cocking the gun" on free news. Pungent!

from India Insight:

Why is China issuing separate visas to residents of Indian Kashmir?

New Delhi is barring residents of Indian Kashmir from travelling to China on separate visas issued by the Chinese embassy.

Saifuddin Soz, senior Kashmiri leader and member of India's ruling Congress party, has said the decision by China to issue hand-written visas on loose sheets of paper to Kashmiris was "not acceptable".

from The Great Debate:

China’s start-up market can win against the odds

wei-gu.jpg-- Wei Gu is a Reuters columnist. The opinions expressed are her own --

It is hard to be very optimistic about China's proposed stock market for start-up companies. After all, similar attempts in other countries have a decidedly mixed track record. Why would China, where small private companies face an uphill battle against state-owned firms, be any exception?

Nevertheless, there are reasons to believe that the start-up market, set to debut in October, offers better potential than previous efforts in Singapore, Germany and Hong Kong.

from Left field:

Hit with Maria? A perk of the job for China’s leaders

Maria Sharapova of Russia speaks at news conference in Beijing.

As mayor of Beijing for most of the period running up to the 2008 Olympics and now Vice Premier of China with responsibility for financial and economic affairs, Wang Qishan has been a very busy man over the last few years.

 

He has, however, made time to indulge his passion for tennis and been highly influential in the growth of the China Open tournament, now one of the top events in women’s tennis with ambitions of becoming an Asian major.

from Summit Notebook:

China’s evolving role from producer to consumer

Hardly a day goes by now without some Chinese firm striking a deal to buy assets overseas, but the country's best prospects for growth may be right in its own backyard. Vivi Lin in Beijing reports on how the world's workshop is fast becoming one of the world's top consumers.

from Changing China:

The Other China Stimulus

By Zhou Xin

As the world watches how Beijing's $585 billion stimulus package can create opportunities for investors, they might be overlooking another mini-stimulus that is coming in a matter of weeks: the lavish celebration the government will be staging to mark the 60th anniversary of the founding of the People's Republic of China on Oct. 1.

On top of what is expected to be a huge military parade through central Beijing, massive firework displays are expected to light up the capital and other big cities around the country.

from Left field:

Bolt v Gay to light up Berlin

boltUsain Bolt versus Tyson Gay is the sort of showdown that would grace any era of athletics and with a bit of luck the world championships in Berlin should give us two takes -- in the 100 and 200 metres. 

The match-up between the Jamaican and the American was supposed to be the highlight of the Beijing Olympics but it wasn't meant to be. Bolt stole the show with three golds and three world records while Gay failed even to make the 100 final. Bolt was in such crowd-pleasing form that in truth you hardly noticed the other seven runners on the track.

from The Great Debate:

China’s banks, running hard to stand still

wei-gu.jpg-- Wei Gu is a Reuters columnist. The opinions expressed are her own --

Chinese banks are like enthusiastic runners on an accelerating treadmill. The weakening economy means poor lending decisions are threatening to catch up with them, but the banks are sprinting ahead by expanding their loan books ever faster. They cannot keep this up for ever.

For now things still look fine. China Banking Regulatory Commission (CBRC) this week claimed that Chinese banks were managing credit risk sagely, pointing to record low non-performing loan ratios. Given the massive increase in the number of loans outstanding -- up 24 percent since the start of the year -- it's not surprising that the proportion of them that are non-performing at large commercial banks, which accounts for 60 percent of the lending, has declined from 2.4 percent to 1.8 percent in the past six months.

from The Great Debate UK:

China’s banks, running hard to stand still

[CROSSPOST blog: 44 post: 4895]

Original Post Text:
wei-gu.jpg-- Wei Gu is a Reuters columnist. The opinions expressed are her own --

Chinese banks are like enthusiastic runners on an accelerating treadmill. The weakening economy means poor lending decisions are threatening to catch up with them, but the banks are sprinting ahead by expanding their loan books ever faster. They cannot keep this up for ever.

from The Great Debate UK:

Government must deliver on Olympic legacy promise

robertson1- Hugh Robertson is the opposition Conservatives' Olympics spokesman. The views expressed are his own. -

With three years to go, it is remarkable that London 2012 is going so well.

London’s Olympics were launched with a massive government miscalculation that resulted in the budget having to be increased threefold, were based on a plan that required us to build two Terminal 5s in half the time and have had to contend with the worst economic recession in living memory.

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