Giant on the move
from George Chen:
By George Chen
The opinions expressed are the author’s own.
Chinese Premier Wen Jiabao once said there's something even more important and precious than gold -- people's confidence.
In recent weeks, I'm afraid global investors have been losing confidence in Chinese stocks from the New York to Shanghai markets. Sino-Forest Corp became the latest victim of a slump in overseas-listed Chinese companies. The company earlier this week accused short-seller and research firm Muddy Waters of defamation for alleging in a report that it had fraudulently exaggerated its Chinese forestry assets.
Unfortunately, this is just the beginning of the hit to confidence over Chinese stocks, especially small caps listed at home or abroad, for example in Hong Kong, Singapore, New York and even on the second-tier board of the London Stock Exchange.
If you look at yesterday's trading carefully, you may find investors suddenly became more cautious on small-cap Chinese stocks after the Sino-Forest case. There were already signs with the growing dotcom bubble exported by some Chinese Internet companies to Wall Street.
from Reuters Investigates:
Worrying about the power China has over the U.S. as America’s largest foreign creditor has become a national pastime. It’s a bipartisan issue in Congress and a favorite subject among pundits lamenting the decline in U.S. influence around the world. But could China really use its Treasury purchases to shape U.S. policy? Diplomatic cables released by WikiLeaks and obtained by Reuters suggest that has already happened.
Emily Flitter’s special report outlines a diplomatic flare-up between the two superpowers following the U.S. financial crisis. Chinese officials said they were worried about the safety of their U.S. investments. U.S. diplomats worked hard to ease the tensions, but the conflict ultimately led to the request of a personal favor by a top Chinese money manager in a meeting with U.S. Treasury Secretary Timothy Geithner.
from Sebastian Tong:
The growing acrimony in the international debate over China's currency policy has led some to warn that Beijing could dig in its heels if pushed to hard to let its yuan rise.
But Barclays Capital says Beijing could let its currency strengthen as early as next month, notwithstanding its public resolve against Washington's threat to label it as a currency manipulator.
from Pakistan: Now or Never?:
When President Barack Obama suggested in Beijing last month that China and the United States could cooperate on bringing stability to Afghanistan and Pakistan, and indeed to "all of South Asia", much of the attention was diverted to India, where the media saw it as inviting unwarranted Chinese interference in the region.
But what about asking a different question? Can China help stabilise the region?
Guan Yongning is a senior cameraman with Reuters Television in Beijing . In 15 years in the field, he has covered stories ranging from natural disasters to politics and major sporting events. Guan was one of the chosen few reporters able to follow U.S. President Barack Obama’s visit in China up-close. He tells the story of what reporters have to go through to capture a few precious shots of the U.S. leader.
The reporters able to cover Obama’s visit up close might be considered the lucky ones. Following the American commander-in-chief means long hours working days, skipping meals, lugging around heavy gear and enduring the harsh Beijing winds. But would they give up the chance?
The U.S. President may be in China but it is business as usual for Beijing’s American acupuncturist.
Connecticut born Bryan McMahon is treating a Chinese patient in his traditional courtyard in the backstreets of Beijing.
Bryan has spent years studying Chinese traditional medicine in both Beijing and Shanghai.
He says that part of the reason he chose Chinese medicine over its western alternative was the way in which it is so deeply rooted within Chinese culture.
Bryan’s patient Sai Na believes the American-Chinese approach to acupuncture offers a new and improved form of treatment.
The U.S. rejection of the $18.5 billion bid by China’s top offshore oil company, CNOOC Ltd, for Unocal in 2005 was not a move worthy of a world power such as the United States, asserts a Chinese academic with the government’s top economic planning agency.
“If you are weak, then I can understand,” said Chen Dongqi, deputy director of the Academy of
Macro-Economic Research under the National Development and Reform Commission (NDRC).
from Global News Journal:
Photo:A compilation by Reuters of pool photographs and images provided by North Korea's KCNA news agency showing North Korean leader Kim Jong-il from 2004 to 2009. The photograph in the lower right was released this week by KCNA
By Jon Herskovitz
The image the world once had of North Korean leader Kim Jong-il, with a trademark paunch, platform shoes and a bouffant hair-do, is gone and may never come back. He has now become a gaunt figure with thinning hair who has trouble walking in normal shoes, let alone ones with heels 8-10 centimetres (3-4 inches) high like he used to wear.
After watching the United States destroy every opponent in the basketball tournament by an average of more than 30 points before the final on Sunday, there probably weren’t many people expecting Spain to have a chance against a “Redeem Team” determined to win back the gold medal after the debacle of the bronze in 2004.
But then Spain played a superb match and kept the Americans on the ropes all the way to the very end with one dazzling basket after another.