In a forum in Beijing today, Cinese Premier Wen Jiabao spoke against protectionism blah blah blah. The major point to take home, however, is China will see its first trade deficit since 2004 in March, of about USD 8bn.
What does this mean, besides any implication on the currency debate? Well, ever since the beginning of this Great Recession (or GD2, as I would prefer to call it) Chinese exports have been a leading indicator of US consumption. So could this dramatic deficits foretell something more sinister, like a double dip? One month does not a trend make, of course, but this does raise serious alarm, especially in light with all this crazy talk of an official end to recession.
Beijing has threatened to retaliate if the United States declares China a currency manipulator and imposes trade sanctions.
The US Treasury is to rule whether China is unfairly holding down its exchange rate to gain a competitive edge in global markets.
Political pressure is growing in Washington to declare China a currency manipulator. Some US senators have threatened to slap duties on Chinese products if Beijing fails to allow the yuan’s value to rise.
Washington says China holds the yuan low so that Chinese goods can enjoy an artificial competitive edge.
Three years ago, Beijing had let the yuan climb 21 percent against the US dollar.
The International Monetary Fund and the World Bank have both urged China to let the yuan resume its ascent.
The currency debate has caused tension between the US and China. Relations between Beijing and Washington have been deteriorating over a number of issues, including the Pentagon’s arms sales to Taiwan.
THE METROPOLIS
(Shanghai, Jiangsu, Zhejiang)
Territory: 216,008 km2 (2% of total)
Population: 147 million (11% of total)
Per Capita GDP: $6,406 (#3 of 9)
Exports as % of GDP: 58%
Net Trade Balance (ex-China): $119 billion surplus
Sleek, stylish, confident—Shanghai certainly makes an impression. Its steel skyscrapers look like rocket ships ready to blast off into the future, taking China along with it. Shanghai is a very young city by Chinese standards, but the Yangtze River delta—known in ancient times as the kingdom of Wu—has always been the most commercial and cosmopolitan part of China. Like the Low Countries at the mouth of the Rhine, it is a flat watery land crisscrossed by busy canals linking a constellation of trading cities. The Back Door may succeed in breaking the rules, but only the Metropolis has the wealth and dynamism to entirely reshape them. Its treasure fleets nearly discovered Europe a century before Columbus sailed, and of the Nine Nations, it is the only one to have displaced the Yellow Land—several times—as China’s political capital.
The Metropolis likes to see itself as China’s bright and beckoning future, but the feelings it stirs in other parts of China are decidedly mixed. While its residents see themselves as adaptable and forward-thinking, to many Chinese they come across as arrogant city-slickers—cliquish, crassly materialistic, and slavishly eager to mimic foreign ways. Shanghai had a pre-war reputation as a neon-lit version of Sodom and Gomorrah, and when China was “Red,” the Metropolis paid dearly for its “Black” capitalist past. Consigned to purgatory for over 40 years, the region bore the brunt of the Cultural Revolution and was starved for development funds—essentially frozen in time—until the early 1990s.
The rebirth of the Metropolis did not take place on its own terms. It was the result of a political decision, made in Beijing, to transform the region into a carefully designed showcase of what China could achieve. The state has poured tremendous resources into industrial parks, infrastructure, and Shanghai’s glittering new financial district, attracting huge amounts of foreign direct investment. But this subsidized, scale-driven growth model—where bigger is always better—makes for an economy dangerously prone to speculation. The best hope for the Metropolis lies not in ever-greater capacity and ever-taller buildings but in smaller, nimbler, entrepreneurial enterprises that draw on the region’s distinctive flair for marketing, design, and fashion.
This may seem unremarkable at first glance, but the location was previously a circular turret building which once housed Horn’s Imbiss Stube (Horn’s Snack Bar) and Cafe Atlantic, common meeting places for many Europeans (many of whom were Jewish refugees) who lived in Hongkou district during the 1930s and 40s. Back then, it was known as the heart of Little Vienna. More background here and here.
Its doomed demolition began sometime around September of last year and I watched week by week as the roof and walls came down.
Its doomed demolition began sometime around September of last year and I watched week by week as the roof and walls came down.
By January of this year, it had become a near empty plot of land, save for the side skeleton of what used to be shophouse fronts.
I found it odd that this worker was building a brick wall around a demolished site. Upon closer inspection, I realised that one of the shop fronts, all of which were made of old stone, was in English.
I came to the conclusion that the place was most likely once owned by a European family. It made the most sense given its location. After the mass exodus of foreigners from Shanghai post 1949, the shop head was covered rather than painted over, with new headers, which evolved from cloth banners to wooden sign boards to what are now mostly plastic sign boxes with fluorescent tube lights attached within.
If you see old shophouse buildings being refurbished, there is a chance you might spot an old stone shophouse front, almost guaranteed to be in Chinese.
A fortuitous deed for posterity, a little tell tale sign of history, but gone the last time I stopped by.
If Google (GOOG) closes its Google.cn Chinese search portal, it will be tough luck for the American company which looked forward to getting an increasing shares of its revenue from the People’s Republic’s 400 million internet users. It is also tough luck for Google’s partners, most of which use the Google search feature on their sites.
Several companies that sell advertising for Google in China have expressed their concerns to the central government but they hae also warned Google that they may try to get financial compensation from it for loses to their investors and clients. It is an odd request since Google’s trouble in the world’s most populus nation began when its servers were hacked into. Google can make the case that none of its data is safe so long as it keeps Google.cn open and operates it email service in China.
Google’s partners will make the case that its withdrawal from China was a willful act on Google’s part and one that it did not have to take. That may be to some extent true. Google could continue to censor its results and the Chinese government would almost certainly allow it to stay. Google’s partner would contend that its exit from China was not necessary at all.
There may be no morals clause in Google’s agreement with it Chinese partners, nothing that says that Google will always be good and will fight evil wherever it is found. So, Google may take the high ground with two financial risks–on to its revenue in China and one due to losses to partners because of its actions. But, if Google leaves the mainland of its own accord it is likely to swallow hard and pay what may be a higher price for its actions than it expected at first. It is the cost of being morally better than everyone else.
A Word for Axel Merk – The Debate Over China’s Yuan Peg Continues
The Economist offers a refreshing rebuttal to Crudeman’s … err… sorry, I mean Krugman’s latest tirade over the Yuan Peg in their piece The Return of the “get tough” approach to China this week. In this amusing piece Krugman is dealt with the satire he deserves…
His view of what ought to be done is perplexing. First, he calls on the Treasury department to label China an official currency manipulator. I’m not sure why he believes that anyone in China or America is confused about what the Obama adminstration thinks of the dollar peg. They’ve been quite clear. I’m also not sure what effect this is supposed to have.
And one hardly needs to lift a finger to contemplate how ill-thought out his views are from a political and market stand point.
This is really remarkable. Mr Krugman is careful to explain why we shouldn’t fear that China, as a major creditor, has the leverage to punish America, but it seems as though he has given no thought at all to what leverage America has over China. Neither does he seem to pay the least mind to the potential fallout from such a reckless rush to a more aggressive approach to China. Perhaps the decision to impose these surcharges will have the desired effect. Or perhaps, the Chinese government will retaliate, touching off a trade war at the worst possible economic moment. The potential upside to Mr Krugman’s recommendation is trifling; the potential downside is massive.
But it’s the earlier reference to Scott Sumner which really caught my attention:
As our Leader points out this week, it is probably in everyone’s interest for China to allow the renminbi to appreciate at this point, though I’m sympathetic to Scott Sumner’s argument that during the depths of the global recession, China’s peg was highly stimulative to the Chinese economy and helped to end the global economic freefall. But while appreciation of the RMB would be good for mostly everyone:
[I]t would not be a magic bullet, either within China or outside. Rebalancing China’s economy will require big structural reforms, from tax to corporate governance, as well as a stronger currency. A stronger yuan would not suddenly bring back millions of jobs to America. Since America no longer makes most of the products it imports from China, a stronger yuan would initially act more like a tax on consumers.
This is something which Axel Merk has alluded to as well. I like Axel Merk, he gets straight to the point where it concerns currencies – especially the US Dollar. Readers will know we’ve made reference to him before, he’s a voice growing in stature, in my opinion. Back on 16th March 2010 I wrote about his appearance on CNBC.
For those who think I’m off my rocker for suggesting that the US may not be running a “strong dollar policy” have a listen to what Axel Merk said on CNBC last night – it all starts with the phrase: “…they don’t try to devalue their currency like the US does…” – very open and direct opining here, I’m impressed, worth listening to the end!
The notion that America’s export business will be granted a life line by a revaluation of the Chinese currency is practically not founded on any observations I have made in the real World here in Asia. What America is suddenly going to start exporting sneakers to Vietnam now, as Merk puts it in his latest piece: Strong Yuan in China’s Interest? That’s funny. Also, he alludes to Scott Sumner’s point about a stronger Yuan hike acting like a tax on US consumers, rather than a euphoric liberation of the manufacturing base. The Chinese may have more pricing power than they think, he says. He also comments on how China can use the Yuan to more easily regulate inflation, should they need to – something which we have been saying for some time now (China Basher’s Believe What You Want to Believe) in fact the currency peg in this instance could be a much more effective inflation control-level.
I encourage you to read this, typically entertaining, piece but if you’re too lazy, here are some of the highlights for you [emphasis/edits mine]…
Domestic Demand
It appears to us that U.S. policy makers would want the Chinese government to hand out credit cards to boost domestic demand [haha!]. If the Chinese only spend more, they could buy more U.S. made goods. This has to be taken with a grain of salt; while the Chinese love American brands, most of them are made in China or elsewhere in Asia. Those items China would like to buy, say commodity producers or nuclear technology, the U.S. is far more reluctant to export. Further, the Chinese reject this approach because they don’t want to promote a U.S. style, debt driven consumer boom.
The Chinese, in contrast, like to build consumer spending the old-fashioned way. By raising the standard of living, consumers may be able to afford more and thus spend more. So far, so good. But to boost growth, China almost exclusively seems to focus on infrastructure building, along the lines of: if you build a highway prosperity will come. That approach has been very effective in executing a stimulus plan that actually works; however, we believe infrastructure spending alone is insufficient in fostering a more balanced economy.
Inflation
China’s inflation has reached a 16-month high. The government is struggling to cool what may be runaway loan growth, increasing wage pressures and property prices that are rising at an alarming pace. One of the ways to bet on a stronger yuan is to buy real estate; such “hot money,” or speculative funds, would go away if the exchange rate reflected market forces.
It has become almost a ritual that loan growth explodes early each year, as borrowers fear the government may step in to restrict lending later in the year. It would be far more efficient to work with market forces, i.e. a stronger yuan, than to regulate economic growth. An economy driven by regulation encourages abuse. People will find ways around the rules, causing further distortions and, depending on the scale, they will turn to further regulations and even scandals. Allowing the yuan to appreciate and ultimately float would free up forces to focus on building competitive businesses.
If the yuan is not allowed to appreciate as a valve to contain inflation, the government has to restrict loan growth at banks and try to tame inflation using regulation. These tools are inefficient and, in our assessment, may ultimately fail to contain inflation.
Australia’s central bank just issued a report on the importance of flexibility; the analysis credits the floating exchange rate – and it has been a volatile ride for the Australian dollar – to keep inflationary pressures low.
Value Chain argument
China may be concerned that an appreciating yuan could be too effective in slowing economic growth. After all, many businesses may only be staying alive because their exports are subsidized through an artificially cheap exchange rate. Also, China is concerned about Japan’s experience of having a soaring yen cripple its economy. However, this fear must not be the only guide. China’s economy has long embarked on a course to be ready for a stronger yuan. In particular, China’s low-end industries have gradually moved to lower cost countries in Asia. It is the low-end, low-margin industries, such as the toy industry, that are most price sensitive. Indeed, we fear that countries like Vietnam or the Philippines may engage in competitive devaluation of their currencies should U.S. consumer spending not rebound as we fear.
China, however, is rapidly moving towards what we call the higher end of the value chain. Europe has long ago learned that it can’t compete on price, but has to compete on value-added goods and services. Those in the U.S. calling for a weaker dollar should be reminded that it is unlikely we will export sneakers to Vietnam: it’s simply not possible to depreciate yourself into prosperity.
In the spring of 2008, when import prices in the U.S. rose at a rate of over 20% year over year, it wasn’t only commodity prices that soared: Chinese exporters raised their prices and there was little the U.S. could do about it. Although China and other exporters to the U.S. will always attempt to absorb a higher cost of doing business, such as what a stronger yuan would pose, there comes a point when that is no longer possible. Just as with the experience in the spring of 2008, we believe China has far more pricing power than it recognizes.
Further, a stronger yuan will promote further investment into value added goods and services.
Commodity prices
Needless to say, a stronger yuan would allow China to lower the cost of its imports, particularly commodities. While inflationary pressures may convince China to allow its currency to appreciate, it is access to commodities that will be China’s primary concern over the coming decades. A stronger yuan is in China’s interest to satisfy its appetite for resources.
China is ready
Importantly, China has laid the foundation to allow for a stronger yuan. Its currency watchdog, China’s State Administration of Foreign Exchange (SAFE), has been preparing China. Some of the more recent developments include the use of the yuan in international agreements; also, yuan denominated debt is being issued in Hong Kong.
Role of the U.S.
Policy makers in the U.S. should focus on communicating the benefits of a strong currency to China. The U.S. would be more credible in such a debate, if it pursued a strong dollar policy itself. These days, to qualify for the position of U.S. Treasury Secretary, a key credential is to be able to keep a straight face [haha!] while uttering the words, “a strong U.S. dollar is in the interest of the United States.” It would be helpful if more effort were spent encouraging Congress and the Federal Reserve (Fed) to pursue policies to support a strong dollar.
As for Krugman, we’ve been here before, on 6th January 2010 I wrote:
…he randomly fires a shot which this time land in China’s waters – specifically at China’s monetary policy here and here (again, read the comments – they’re much more interesting and probably more informative). The unfortunate Professor Krugman is beginning to look like another comical political caricature of The Administration with a Nobel Laureate badge pinned to his forehead.
Here is a classic example of why great economists do not necessarily make for great investors/traders/politicians/ambassadors/diplomats/etc (take your pick). Krugman must be a talented economist… and this is just a suggestion, but, perhaps he should stick to economics.
Macro Data to Watch:
BoJ Target Rate
Malaysian CPI
South Korean Jobs
Markets
March is proving to be a great month for the S&P, but what’s this? Another asset class is apparently doing better than equities… a certain hybrid security called a “Convertible Bond” according to a Bloomberg article today. Watch this space people!
Dollar index fell and looks to be rolling over. Could this be the end of the Dollar rally? Perhaps… let’s wait and see.
Source: Bloomberg
Global Stocks to Watch:
Great move by Intel after release of a new line of server chips (how geeky does that sound?) – watch the follow-through in the Tech space.
Citigroup – that’s one volatile stock these days! Up 4% last night.
A group of human rights advocates have urged the United States government to fund a coalition working towards tearing down the great ‘firewall’ of China.
[Michael J. Horowitz, Hudson Institute]:
“We’re here to announce the submission to Secretary Clinton of two letters.”
The director of Hudson Institute’s Project for Civil Justice Reform, Michael J. Horowitz, announced on Tuesday at a press conference in Washington, DC.
The letters, signed by human rights campaigners from around the world, call on Secretary of State, Hillary Clinton to grant funds to the Global Internet Freedom – or GIF – Consortium.
Established in 2006, GIF is a non-profit organization that’s helping Internet users—mainly in China—break through Internet censorship. It’s mostly operated by volunteers who are adherents of Falun Gong—a spiritual movement which has been persecuted by the Chinese communist regime since 1999.
The Technical Director of the GIF Coalition, Dr. David Tian, says GIF has become the largest anti-censorship project in the world.
[Dr. David Tian, GIF Technical Director]:
“Currently GIF is basically responsible for almost 90% of anti-censorship traffic over the world. Most of our users are from China and Iran, and each country, each of them has about half a million to a million users (per day).”
The United States Congress approved 30 million dollars in the budget this year to tackle Internet censorship in China, Iran and other closed countries.
Hudson Institute’s Michael Horowitz says the U.S. government should live up to its promise.
[Michael J. Horowitz, Hudson Institute]:
“We expect to keep the pressure on the State Department to make its actions live up to its words, it’s as simple as that.”
Dr. Tian says the bottleneck to GIF’s efforts is its server capacity. With government funding, the coalition could upgrade its facilities from 1.5 million, up to 50 million users per day.
via Group Seeks U.S. Funds to Break Chinese Regime’s “Firewall” – New Tang Dynasty Television.
For a few hundred dollars, low-paid border guards are allowing entry into Pakistan to spies and agents of multiple foreign intelligence agencies operating in Afghanistan. In this story and video, see how a US lady entered Pakistan through Torkham on Saturday, Mar. 13, 2010, without visa and without the knowledge of Pakistani intelligence officers posted there. This happens in a country that faces terrorism exported by both US-controlled Afghanistan and its Indian ally.
BY SYED FAWAD ALI SHAH:
TORKHAM, Pakistan—Rampant corruption and a weak Pakistani state are helping the entry into Pakistan of spies and terrorists from multiple foreign intelligence agencies operating in Afghanistan. Almost all terror in Pakistan is coming from Afghanistan.
This American woman tried to sneak into Pakistan through Torkham on Afghan border today, Saturday, Mar. 13, 2010, around early afternoon. She was wearing an Afghan woman’s burqa and apparently spoke local dialects. She would have successfully crossed into Pakistan safely hidden among a group of Afghan women but something about her demeanor raised the suspicion of a Pakistani border guard.
However, the border guards, known as Khasadars, made sure that Pakistani intelligence officers posted in the area are not told about this arrest. Torkham is considered a hot station within Kasadar tribal force circles. With salaries that go less than PKR 10,000 per month [less than US$ 130], major checkpoints such as Torkham provide an extra source of income for the Khasadars through bribes from travelers.
The guards kept the woman in a room for about thirty minutes and then let her enter Pakistan in her burqa. She paid the Khasadar guards a handsome amount of money as bribe. According a source in the Khasadar Force who witnessed the whole thing, the woman didn’t panic. She appeared composed and familiar with the ways of the border guards. She knew what to do in such a situation.
Thanks to my contacts in the border force, I was able to make a cell phone video of her passport while the Khasadar chief at the checkpoint talked to her.
Her name on the passport was Zohra Rehmati, which makes her an American from either Iranian or Tajik-Afghan extract.
Over the past four years, a large number of US agents have entered Pakistan through Afghanistan. Several have been arrested in different parts of the country disguised as Afghan men, complete with beards and Turbans and fluent in Pashto, Dari and Urdu. Unfortunately, much of this covert American activity was sanctioned first by the Musharraf government and now by the pro-US Zardari-Haqqani combine in the incumbent government.
Ms. Rehmati, if that is her real name, may or may not be a CIA operative, or one of its private contractors associated with either DynCorp or Xe International. But such lax security in a country that is a target of terrorism, DynCorp managed to create quite a covert network in Pakistan before being busted by Pakistani security last year. DynCorp remains in Pakistan, thanks to backing from both the US Embassy in Islamabad and the pro-US government, despite repeated attempts by the country’s security officials to force the US defense contractor to wrap up its operations here. Xe International, formerly known as Blackwater, also operated in Pakistan until 2005 before being moved to Afghanistan, according to an earlier report in the New York Times. But going by the number of incidents in Pakistan over the past couple of years where US private agents were seen operating in major Pakistani cities, it is safe to say that both contractors continue to quietly operate in Pakistan in one
Private contractors help give CIA the benefit of deniability if an agent is arrested on foreign territory.
CIA has been known to send US citizens of foreign descent to their home countries for espionage.
The most recent example is Roxana Saberi, an Iranian-American who was busted in Tehran carrying sensitive documents handed to her by an informant. Ms. Saberi was sent to Iran posing as a journalist. CIA even managed to get her newspaper accreditation from a major American newspaper. The US government was embarrassed at the arrest because Ms. Saberi was arrested red handed receiving official documents from a contact.
In Pakistan, a State that is falling apart at the seams, with no central figure or department to control the rot, is providing the perfect environment for meddling in the country not only by the United States, UK, India and other established powers based in Afghanistan, but also by a puppet regime like that of Mr. Hamid Karzai and his spymasters, who in eight years are in a good position today to wreak mayhem inside Pakistan while the politicians in Islamabad and the military in Rawaplpindi have little recourse beyond words of appeasement or caution during closed-door meetings with foreign powers in Afghanistan that are never translated into action to reestablish Pakistan’s writ domestically and in the region.
Mr. Shah is an independent journalist based in Peshawar.
Green-Energy might be next wave of innovation in Silicon Valley and pundits are naming it Silicon Valley 3.0. The report talks about the following areas:
The next great wave of innovation
Part 1: Silicon Valley has assumed a leading role in the global competition to develop renewable energy and other clean, green technologies.
The innovators | The adopters
Star technologies: solar, smart grid
Part 2: The two sectors are already reshaping the way we use energy.
Fierce global competition in cleantech
Part 3: Silicon Valley’s ability to innovate its way to the top is far from guaranteed.
I suggest that it is worth reading this report which outlines the competitive landscape as well especially from China 100 billion clean tech research fund which is bigger than the Obama administration’s $70 billion in economic recovery funds for the Cleantech sector. I am optimistic that new wave of innovation will take place in this sector as research and development is being focused in this area. Europe is also hoping to lead the way especially Scandinavian countries.
Now the technology as only renewable resource is being utilized to solve the climate change and energy problems not only import substitution but to become really independent as well!
Doha—Pakistan Embassy has announced the participation of Pakistan Navy in DIMDEX 2010. Two Pakistani Navy ships and a submarine will be in arriving at the Doha Port on March 28 to participate in DIMDEX 2010 exhibition and seminar, according to Pakistan Embassy in Qatar.
Units participating include PNS Zulfiquar, a frigate recently commissioned in Pakistan Navy. The ship is fitted with state of the art weapons and sensors and carries a Z9EC helicopter, according to a Qatari newspaper The Pennisula.
The ship is part of the F-22P Project which encompasses construction of three frigates in China and also envisages complete transfer of technology for the construction of fourth ship at Karachi Shipyard and Engineering Works.
PN Submarine Humza is also going to be present in Doha during the exhibition. The submarine was constructed by Pakistan Navy in collaboration with DCNS of France.
Hamza is the first submarine to incorporate Mesma which is an air independent propulsion system installed to achieve an increase in submerged endurance.
The submarine by virtue of its weapons and sensors outfit, equipment efficiency, stealth and well-knit crew is fully capable of undertaking variety of missions.
Third unit to be present at the DIMDEX is PN Missile boat Quwwat. PNS Quwwat was constructed at the Karachi shipyard in 2006.—Online
Today marks the 51st anniversary of the Tibetan people’s peaceful uprising in 1959 against Communist China’s repression in Tibet, as well as the second anniversary of the peaceful protests that erupted across Tibet in March 2008. On this occasion, I pay homage to those heroic Tibetan men and women, who sacrificed their lives for the cause of Tibet, and pray for an early end to the sufferings of those still oppressed in Tibet.
Despite the great hardships they have faced for many decades, Tibetans have been able to keep up their courage and determination, preserve their compassionate culture and maintain their unique identity. It is inspiring that today a new generation of Tibetans continues to keep Tibet’s just cause alive. I salute the courage of those Tibetans still enduring fear and oppression.
Whatever circumstances we find ourselves in, it is the responsibility of all Tibetans to maintain equality, harmony and unity among the various nationalities, while continuing to protect our unique identity and culture. Many Tibetans in Tibetan areas are working in various responsible posts in the party, government and military, helping Tibetans in whatever way they can. We recognise the positive contribution that many of them have made up to now, and obviously when Tibet achieves meaningful autonomy in the future, they will have to continue to fulfil such responsibilities.
Read more at source
51st Anniversary of the Tibetan National Uprising Day
Webcast of the ceremony in Dharamsala commemorating the 51st Anniversary of the Tibetan National Uprising Day. View
Photo Gallery: Escape into Exile
http://www.dalailama.com/gallery/category/0
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CHINESE Foreign Minister Yang Jiechi’s remark, during a press conference at Beijing the other day, that his country has neither changed its policy on the Kashmir dispute nor would it abandon Pakistan in difficult times, is only an expression of the reality on the ground. The Chinese have gone out of their way to help Pakistan, even losing the lives of their citizens in the process.
The construction of several crucial infrastructural projects, in economic as well as defence fields, gave a wholesome push to our industrial and commercial activity and lent muscle to our military machine. And Mr Yang’s reference to the possibility of making additional sale of arms and aircraft to Pakistan in the context of continuing to “expand practical means of cooperation” is the latest manifestation of the deep understanding existing between the two countries.
The Chinese support to Pakistan through thick and thin has never been in doubt, for one thing because the causes that the two countries pursue are of unquestionable legal and ethical validity. Islamabad benefited a great deal from the help it received from Beijing, which, unlike the rest of the aid-giving world, has invariably been without any strings. However, there has always been a strong feeling in patriotic political circles that Pakistan has, most unwisely, missed or at least balked at making full use of the opportunities that came its way to further cement the bilateral relations. Its successive ruling classes have invariably had, it is a great pity, misplaced fascination for the so-called friendly Western nations, which refused to give their help to Pakistan when it was most needed. Nevertheless, close bonds between Beijing and Islamabad have continued to exist, thanks more to the former than anything else because it looks at our failings with an understanding eye. Another reason for their close bonds is pure pragmatic considerations, which oblige neighbouring countries to have a harmonious and helpful existence.
It is in pursuit of the Chinese vision of a peaceful region, concern for “all-weather” friend Pakistan and regard for justice that Mr Yang stressed the need for an early solution of the Kashmir issue. He expressed Beijing’s readiness to assist in tackling it.
To set at rest any doubt about the existence of a strong relationship with Islamabad, Mr Yang counselled that no one should believe that the Pak-China friendship was in search for any material advantage. One would like to imagine that this reaffirmation would jolt our leadership out of their sweet dreams of gainful association with the US and other Western nations, and make them realise that, with hostile forces ganging up on us, further strengthening our relations with China was also the strategic need of the time.
A Chinese author claims that the plot of the 3D flick Avatar was nicked from a book he published online.
Beijing-based scifi writer Zhou Shaomou believes that Cameron ripped off his online novel Tale of the Blue Crows and he wants a billion for the rights. Shaomou said that much of Cameron’s Oscar-nominated film was yanked from the Chinese author’s 1997 space epic novel.
He said that in his novel that their space journey took them six years but in Cameron’s movie the journey takes them five years nine months and 22 days. Well that is a direct lift then. He admits he does not think he has a chance of suing Cameron, but he thinks it is worth a crack.
The Tale of the Blue Crows tells the story of remote-controlled human clones that explore distant star systems. Later in the novel there are blue aliens and memory transference is used as a plot device.
bron: www.fudzilla.com
There are some guests that one has on a radio program that you just can’t get enough of, that you want to chat away for hours two, or as in the case of my special guest on “A Book and a Chat” you ask back for second or third appearances.
Today I am so please to have as my guest on the show “Julia Hoban“, author of the fantastic novel “WILLOW“, which wile produced as a YA novel has been enjoyed, as Julia explains during the show by readers of all ages, not just in the America’s but now all over the world.
As always Julia provided a fascinating incite not only to the latest news about her book, but in the art of writing, something that will be of interest and I hope help many inspiring authors.
Not only that, but Julia kindly set up a competition for me to run on my blog, details of which can be found towards the end of this blog..
Also during tonight’s entertaining show, we heard about the books success around the world from already being on its second print in Spain, to being launched in Germany, China and Taiwan. The book is also being launched in the UK this month though under a different name, becoming “SCARRED” a name which in many ways describes the book better than Willow”
As part of the pre-launch work in the UK Julia shared with us a wonderful article, she wrote for the The Daily Telegraph, one of the top newspapers in Britain.
The show was littered with interesting incites and anecdotes, which was enjoyed by all those who were listening or in the chat room, and is sure to be a much followed up show.
HERE ARE THE CONTEST DETAILS:
“In Willow there are references to several books, all except one of these books actually exist, though some might be not that easy to find online.
QUESTION: What is the one book mentioned in Willow whose name Julia made up?
The contest will close this Friday March 12th, with the winning entry receiving a $25 Barnes and Noble voucher. Entries must be made in the blog comments area on my main site.
(http://abookandachat.blogspot.com).
So listen to the show or down load the link for a very enjoyable forty-five minutes on “A Book and a Chat with Julia Hoban“
Oh… and don’t forget to enter the contest!
Barry
Direct Link: “A Book and a Chat with Julia Hoban”
or you can download the mp3 file of the show from “Julia Hoban”
2010 Deep Research on China Wind Turbine Blade Industrytwas published by QY Research Wind Energy Research Center on Jan 2010. Since 2009, the price of China’s wind turbine blade has dropped substantially, Some companies have started down the contract price. Some wind turbine blade manufacturers have begun to appear underemployment problem.On the development trends of current domestic wind power equipment market, supply and demand tension has been greatly eased with the original manufacturers and the new large-scale expansion project inputs. However, we believe that prospects of the whole wind power equipment manufacturing remain favorable, despite the huge profits time has slowly away, but is still a relatively high profit margins in manufacturing industries and the future market scale will be further expanded.
On July 24, 2009, China Development and Reform Commission published the Notice on Wind Power on the Pricing Policy. It stipulates that the whole country will be divided into four categories of wind power resource areas according to the situation of wind power resources and engineering construction conditions, and then the corresponding wind power electricity price benchmark will be fixed. Since August 1st of 2009, the wind power electricity price benchmark in Chinese four resource areas will be 0.51 RMB (0.074 USD) Kw/h, 0.54 RMB (0.079 USD) Kw/h, 0.58 RMB (0.085 USD) Kw/h, and 0.61 RMB (0.089 USD) Kw/h separately. We believe that the new pricing policy will have a favorable impact to enhance the operator’s profitability and stimulate the development of China’s wind power industry. As for the unreasonable redundant construction in wind power industry, the government also has introduced some relevant control measures, which is undoubtedly good news to the existing industries and enterprises. The original “long-term renewable energy development plan” for wind powers by 2020 the total installed capacity is determined by 30 million kilowatts, and now that goal may be adjusted to from 100 to 150 million kilowatts, 30 million kilowatts and the goals may be able to achieve in 2011. We believe that the policy of this series will make wind turbine blade industry maintain a continued healthy growth.
More Information: http://www.aarkstore.com/reports/2010-Deep-Research-Report-on-China-Wind-Turbine-Blade-Industry-13453.html
Zheng He ranks among the world’s greatest seafarers.Nearly a century before European explorers started out, he was commanding great fleets of huge shipsThe ships groaned with valuable cargo and travelled epic distances, from China to the coast of Africa.China has been through periods of overlooking Zheng He. But since the 1980s, he has had a revival in the People’s Republic.Nick Baker finds out more about the man who was a eunuch, a Muslim, possibly a giant, and one of the world’s most important historic naval figures.
via BBC World Service – Documentaries – China’s Forgotten Admiral.
Restaurants and office buildings in China’s commercial capital Shanghai are scrambling to set up nonsmoking areas as the city bans lighting up in indoor public spaces ahead of the World Expo.
There is rising awareness of the health risks of smoking in China, by far the world’s biggest tobacco-consuming country, and this modern city of 20 million is cleaning up its act as it prepares to host the Expo, which begins May 1.
That six-month event, which will showcase the theme “Better City, Better Life,” is expected to attract 70 million people, with exhibits from 192 countries. Most of the visitors will be Chinese from other cities where tobacco use is less strictly controlled.
“The regulations are not going to work. China is at least 50 years behind advanced countries, and people here lack self-discipline,” said Xu Baofeng, a manager at a mobile phone service outlet, who was standing inside the shop with his head sticking outdoor as he smoked.
“You can see the NO SMOKING sign on our wall, but many people just ignore it,” Xu said, saying that some male customers fight back or complain to higher managers if staff try to stop them.
Even before the ban took effect Monday, most major public facilities in Shanghai, including many shopping malls and all subways and subway stations, banned smoking.
Now authorities have penalties to apply, and have signed up thousands of volunteers to help enforce the ban.
First-time offenders will get a warning. If they resist, they face fines of 50 yuan to 200 yuan ($7 to $30).
China is increasing its minimum wage across the board (the wage rate is set at provincial or even city level) in order to alleviate its labor shortage problem and also to help developing its domestic market. On the heels of recent announcement from Jiangsu to raise minimum wage by 13%, Shenzhen (a leading manufacturing hub down south) is to increase its wage rate by at least 10%. This trend is likely to be replicated throughout the nation.
By increasing labor’s share of profit, China is effectively making its exporters less competitive and reduce its trade surplus to placate the protectionist voices in key markets. The increase wages will go towards enhancing domestic consumption and building a middle class. A much better way to address the global imbalance than revaluing the RMB, which will only benefit China’s competitors.
I hesitated a long time over whether to buy this story collection, not because I didn’t think they’d be any good, but because it seemed to be a lot more expensive than similar books. I ended up paying about £13.50 for it, which is pretty good, considering that it now appears to be out of print, and is selling for around £50 second-hand.
I might have to get me some of that second-hand action, because my other fear – that I’d already read a lot of the stories in the collection – proved to be all too true, and I should have checked the list of contents.
This slim – 235 page – volume contains 10 stories, and I’d read 4 of them before. If you take account of the length of these stories, I’d read close to half the book, which is why I wouldn’t pay £50 for it.
Bacigalupi writes fascinating, if bleak, stories set in a depressingly convincing future. Imagine that the big agrochemical companies get their way and somehow manage to corner the market in copyrighted seedstock (helped by a few genetically engineered plant diseases which kill of the remaining non-copyright crops). Imagine that the oil runs out and that we start to measure everything we do in terms of the energy it takes to do it vs. the amount of energy you get from it. Imagine that we somehow end up losing essential scientific and engineering skills, because our manufacturing industry dies and nobody chooses to study those things any more.
These – and other – scenarios make up the background of these stories of individuals struggling against the systems under which the labour, looking for a little taste of freedom, or a reason to live.
If, like me, you regularly read Gardner Dozois’ annual collections, you may already have read “The Fluted Girl” (surgically modified twins play their own bodies as musical instruments); “The People of Sand and Slag” (almost-indestructible canon fodder who can regrow their own blown off limbs encounter a real dog); “The Calorie Man” (a reluctant trader tries to help a scientist who has the secret of genetically modified seedstock); and “Yellow Card Man” (a Chinese refugee in Thailand tries to find work in a crowded and mercilessly indifferent city).
These are powerfully imagined stories which choose not to overplay their implied criticisms of our present, but they are nevertheless thought provoking.
There’s a novel, The Windup Girl set in the same future as “The Calorie Man” and “Yellow Card Man”, which is in my pile of books to read.
Beijing has threatened to retaliate if the United States declares China a currency manipulator and imposes trade sanctions.
THE METROPOLIS
Sleek, stylish, confident—Shanghai certainly makes an impression. Its steel skyscrapers look like rocket ships ready to blast off into the future, taking China along with it. Shanghai is a very young city by Chinese standards, but the Yangtze River delta—known in ancient times as the kingdom of Wu—has always been the most commercial and cosmopolitan part of China. Like the Low Countries at the mouth of the Rhine, it is a flat watery land crisscrossed by busy canals linking a constellation of trading cities. The Back Door may succeed in breaking the rules, but only the Metropolis has the wealth and dynamism to entirely reshape them. Its treasure fleets nearly discovered Europe a century before Columbus sailed, and of the Nine Nations, it is the only one to have displaced the Yellow Land—several times—as China’s political capital.
The Metropolis likes to see itself as China’s bright and beckoning future, but the feelings it stirs in other parts of China are decidedly mixed. While its residents see themselves as adaptable and forward-thinking, to many Chinese they come across as arrogant city-slickers—cliquish, crassly materialistic, and slavishly eager to mimic foreign ways. Shanghai had a pre-war reputation as a neon-lit version of Sodom and Gomorrah, and when China was “Red,” the Metropolis paid dearly for its “Black” capitalist past. Consigned to purgatory for over 40 years, the region bore the brunt of the Cultural Revolution and was starved for development funds—essentially frozen in time—until the early 1990s.
The rebirth of the Metropolis did not take place on its own terms. It was the result of a political decision, made in Beijing, to transform the region into a carefully designed showcase of what China could achieve. The state has poured tremendous resources into industrial parks, infrastructure, and Shanghai’s glittering new financial district, attracting huge amounts of foreign direct investment. But this subsidized, scale-driven growth model—where bigger is always better—makes for an economy dangerously prone to speculation. The best hope for the Metropolis lies not in ever-greater capacity and ever-taller buildings but in smaller, nimbler, entrepreneurial enterprises that draw on the region’s distinctive flair for marketing, design, and fashion.
If Google (GOOG) closes its Google.cn Chinese search portal, it will be tough luck for the American company which looked forward to getting an increasing shares of its revenue from the People’s Republic’s 400 million internet users. It is also tough luck for Google’s partners, most of which use the Google search feature on their sites. 
There are some guests that one has on a radio program that you just can’t get enough of, that you want to chat away for hours two, or as in the case of my special guest on “A Book and a Chat” you ask back for second or third appearances.
Also during tonight’s entertaining show, we heard about the books success around the world from already being on its second print in Spain, to being launched in Germany, China and Taiwan. The book is also being launched in the UK this month though under a different name, becoming “SCARRED” a name which in many ways describes the book better than Willow”
Restaurants and office buildings in China’s commercial capital Shanghai are scrambling to set up nonsmoking areas as the city bans lighting up in indoor public spaces ahead of the World Expo.