BizChina
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- By Jim Jubak
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In a train wreck, there comes the moment when it's no longer possible to avert disaster. Pull the brakes as hard as you can, the momentum of the train is so great that disaster is unavoidable.
I fear that China's economy passed that point of no return in the second quarter of 2006.
Today, I'm going to tell you why I think China's economy is headed for a train wreck. Not tomorrow, but in the reasonably near future. I'd say 2009.
And in my next column, I'll sketch out the likely effects of that train wreck on the rest of the global economy and the folks, like you and me, who invest in it.
If you've been following the debate in the U.S. about the likelihood that cheap money here has produced a bubble in housing prices, you're already familiar with the basic scenario for a train wreck in China. Cheap money makes it easy to borrow to buy assets. That produces an asset bubble -- in the United States, first in stocks and then in real estate. As the asset bubble grows, borrowers get in over their heads as their judgment is overwhelmed by the excitement of rising prices. And lenders under the influence of similar emotions make loans to unqualified borrowers.
Read more: China's steel industry lead its economy out of control
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- By David Cao
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Li Shufu, the founder of China's Zhejiang Geely Holdings, has much in common with Henry Ford, from a childhood on the farm to a scrappy determination to build a car-making behemoth from nothing.
If discussions underway between Geely and Ford Motor Co are successful, he may have another link with the great industrialist -- ownership of Ford's Volvo unit.
Li's Geely, which means auspicious or lucky in Chinese, has captured the imagination of car buffs worldwide with its dark-horse bid for the well-known but money-losing Swedish brand being sold by Ford.
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- By David Cao
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Baidu released it's financial repoart Q3 which shows the overall Q3 income of Baidu is 1,278,700,000RMB(187,283,517 USD), 39% up than Q3 2008. CEO of Baidu, Li yanhong stated that Baidu will help its client to switch to Phoenix Nest before 2009.12.01. That means the former 8-year Baidu PPC system will be closed officially.
To maintain both professional and classic PPC platform is somehow increase the cost of companies, and will hurt the efficiency of promotion campaign.
Li Yanhong said, 70% of Baidu clients are using Phoenix Nest system - the Baidu professional PPC system- and it's the right time to convert its all client to using it.
"Our clients will enjoy the convenience of unique PPC platform. We will have more resources to serve our regular clients and reach out for new clients. " Li Yanhong said. In order to insure the switch-to-Phoenix-Nest goes smoothly, Baidu will launch relevant client promotion project to ease the effect on its short-term income.
More about Baidu PPC Auction Systems
Baidu PPC Phoenix Nest was launched in April 2009 and has effected on how Baidu PPC ads are displayed.
Baidu’s Two PPC Auction Systems – Classic Edition and Phoenix Nest Edition
Baidu’s PPC ads are served by two distinct auction platforms simultaneously:
Read more: Baidu "Phoenix Nest", Baidu's Adwords system, switch on!
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My firm is constantly getting asked about what it takes to set up a branch office in another city in China. In other words, you already have your WFOE in place in, let's say, Shanghai, and you decide you want to open another office in Qingdao. Or it could be the reverse. What do you do and how easy is it to do it?
I thought of this today because a client wrote me on this and I figured I might as well put my response up here for everyone, so here goes:
Setting up a branch office is really pretty easy. You apply to the local office that handles business licenses and the like. The process for a WFOE seeking to open a branch office is pretty much the same as it is for a Chinese company seeking to open a branch office.
It usually takes only a month or so to complete but can go a bit faster if you want to pay for someone in the particular city to try to speed it up for you.
The exact details vary from city to city, but in general they are going to want to make sure that you have a proper physical office in both cities, that you have a local bank account, and that you are set up to pay local taxes.
That's it.
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