Society
- Details
- By David Cao
- Hits: 729
China reported higher-than-expected inflation and new bank lending in October, figures that put in question the government's ability to reach key economic targets it had set to contain risks from its massive stimulus program.
As the end of 2010 approaches, the government's plans to limit inflation to near 3% and new bank lending to 7.5 trillion yuan (about $1.1 trillion) this year are both perilously closed to being violated. Those targets were adopted early this year as the government tried to shift course from last year's all-out drive for growth to combat the financial crisis.
Officials wanted to avoid a repeat of last year's historic surge of nearly 10 trillion yuan in new loans, which risked saddling banks with bad debts and inflating bubbles. But banks' eagerness to lend and upward pressures on prices have both turned out to be stronger than anticipated, which many analysts think will force the government to take tougher measures.
- Details
- By Henry Chesbrough
- Hits: 632
China has just achieved an impressive milestone: It has built the world's fastest supercomputer. The Tianhe-1A is more than 40% faster than the previous leader, at Oak Ridge National Laboratory in Tennessee. This is not an isolated event. Other, more mundane indicators of growing scientific capability in China have been emerging for years, such as the growing portion of articles in leading chemistry and physics journals that come from the country.
The supercomputer breakthrough is clearly a remarkable development that showcases the country's rising capabilities in research and development.
Read more: China, Innovation Superpower: How To Deal With It
- Details
- By Maha Atal
- Hits: 640
Chinese movie star and his Indian partner
I’ve got a piece in today’s Christian Science Monitor on India, China and the battle for South Asia.
- Details
- By David Cao
- Hits: 820
The votes are cast. The results are in. Republicans rode a populist tidal wave to seize control of the House. Democrats held on to a (fragile) majority in the Senate. So what does it all mean for U.S.-China relations? That’s the question I was asked today on BBC radio.
As many of you know from reading my bio, I worked as an aide to John Boehner, now expected to become Speaker of the House, during the last Republican takeover of Congress in 1994. And, of course, I’ve been living here in Beijing for several years, teaching U.S.-China business relations at one of China’s top universities. So here’s my “American perspective from China” in the wake of the 2010 midterm elections:
- Details
- By David Cao
- Hits: 966
The city is engulfed in a divisive debate as it prepares to set its first-ever minimum wage.
Lawmakers passed the minimum-wage bill after a 41-hour session in July in response to growing public calls to tackle the widening wealth gap. Some of Hong Kong's lowest-paid workers, such as toilet cleaners or security guards, earn as little as HK$20, or about US$2.60, an hour.
Hong Kong Chief Executive Donald Tsang, in a luncheon address to business groups last week, said the government was forced to legislate a minimum wage after a "tepid" response from the business community to a voluntary plan for a minimum wage proposed in 2006.
More Articles …
Page 128 of 254