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Patriotism, it has been said, is the last refuge of scoundrels. Indeed, with 86% of the American public disapproving of Congress' performance, refuge-seeking politicians have wrapped themselves in the flag to denounce the fact that the U.S. Olympic team's uniforms were manufactured in China. Senate Majority Leader Harry Reid, D-Nevada, said he was "so upset [...]
The “plum rain” that envelops Shanghai every summer – a confusing mix of drizzle, fog and smog – is a handy metaphor for the murkiness that currently enshrouds China’s economy. A drumbeat of negative views about China’s economic prospects dominates the country’s image. The financial weekly Barron’s recently proclaimed in a cover story that “it [...]
Recently, there has been an increasing call from the global sphere for the Chinese government to faster globalization of the RMB, since stronger economic growth in China can also help pull the rest of the world out of its current financial slump. The next question comes to whether China is ready for the challenge in next five to ten years.
A highlight of the recent China-Japan-ROK summit was an agreement by the three neighbors to kick off free trade zone talks as soon as possible. The initiative is a natural outcome of the economic cooperation and trade liberalization the countries have been sharing for many years. Their total trade volume increased from $130 billion to [...]
The news out of China this year has been relentlessly bad. The political system was embarrassed in front of its own people by the Bo Xilai scandal and in front of the world by the Chen Guangcheng incident. The Chinese economy has slowed and its stock indexes have been rocked, while its neighbors have been [...]
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