Year of the Ox: 牛年

The year of the Ox is looking good according to Chinese astrologists. "The Ox is known for strength, stability and hard work," making it a great symbol for these rough economic times. In a western since the Ox is much like a bull, our symbol for good economic times; good thing the bear is not part of the Chinese zodiac. In addition some believe because President Barack Obama was born under the year of the Ox this will prove to be a good year for him. "The Chinese horoscope says Ox people are born to lead. They are self-assured, hard working and speak clearly and concisely when it matters most. "

http://wcco.com/local/chinese.new.year.2.918422.html

Made In China

Going through my closet today I decided to record where each article of clothing was from. To no ones surprise China won hands down. China produces 21.34% of my apparel, including: 23% of my T-shirts, and 34% of my dress shirts. China was followed by Honduras and Mexico, who produced 9.55% and 8.42% respectfully. 32 countries were represented in my closet. From my closet expedition I found that China Produces the most all around. Honduras mostly makes T-shirts, Bangladesh exports mostly pants and shorts, while Mexico creates the most jeans.

麦当劳－MaiDangLao: McDonalds

The Rise of The Rest

The Rise Of The Rest

It's true China is booming, Russia is growing more assertive, terrorism is a threat. But if America is losing the ability to dictate to this new world, it has not lost the ability to lead.

The Case Against The West

The West is not welcoming Asia's progress, and its short-term interests in preserving its privileged position in various global institutions are trumping its long-term interests in creating a more just and stable world order. The West has gone from being the world's problem solver to being its single biggest liability.

What Have We Learned, If Anything?

The twentieth century is hardly behind us but already its quarrels and its achievements, its ideals and its fears are slipping into the obscurity of mis-memory. In the West we have made haste to dispense whenever possible with the economic, intellectual, and institutional baggage of the twentieth century and encouraged others to do likewise.

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These three articles all predict a future where China is the new super-power, or at least the economic center. This seem to almost be a fact through out the three papers. Through my research I plan on discovering how China has got to the point where it is the worlds prodigy child. Then look further to make a more detailed report on the bright future of this upcoming star. Mahbubani says China is capable of more international responsibility and quotes the Secretary of State in calling China the "'responsible stakeholder' in the international system." Zakaria points out that China has an abundance of potential in its man-power, resources, capital, and businesses.

This reminds me of a Chinese proverb: 大器晚成(da qi wan cheng) literally it means it takes a lot of time to make one pot. Figuratively it means a great talent matures slowly, or the English equivalent of "Rome was not built in a day."

ICBC offers China´s 1st annexation loan

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Source: CCTV.com | 01-07-2009 09:00

Special Report: Global Financial Crisis

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The Industrial and Commercial Bank of China has offered the country's first annexation loan to a domestic company. The Beijing Shouchuang Limited Company will receive more than five billion yuan from the bank for an acquisition project.

The Industrial and Commercial Bank of China has offered the country's first annexation loan to a domestic company.

The deal was signed on Tuesday in Beijing. Annexation loans differ from ordinary loans because receivers are requested to pay back the loans with shares or dividend.

China had banned commercial banks from providing annexation loans because of the high risks. Last month, the country lifted the ban, encouraging banks to offer annexation loans to help domestic enterprises survive the global financial crisis.

http://www.cctv.com/english/20090107/101971.shtml

Economy Overview

China's economy during the last quarter century has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector and is a major player in the global economy. Reforms started in the late 1970s with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, and the opening to foreign trade and investment. China has generally implemented reforms in a gradualist or piecemeal fashion, including the sale of minority shares in four of China's largest state banks to foreign investors and refinements in foreign exchange and bond markets in 2005. After keeping its currency tightly linked to the US dollar for years, China in July 2005 revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. Cumulative appreciation of the renminbi against the US dollar since the end of the dollar peg reached 15% in January 2008. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis, China in 2007 stood as the second-largest economy in the world after the US, although in per capita terms the country is still lower middle-income. Annual inflows of foreign direct investment in 2007 rose to $75 billion. By the end of 2007, more than 5,000 domestic Chinese enterprises had established direct investments in 172 countries and regions around the world. The Chinese government faces several economic development challenges: (a) to sustain adequate job growth for tens of millions of workers laid off from state-owned enterprises, migrants, and new entrants to the work force; (b) to reduce corruption and other economic crimes; and (c) to contain environmental damage and social strife related to the economy's rapid transformation. Economic development has been more rapid in coastal provinces than in the interior, and approximately 200 million rural laborers have relocated to urban areas to find work. One demographic consequence of the "one child" policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the north - is another long-term problem. China continues to lose arable land because of erosion and economic development. In 2007 China intensified government efforts to improve environmental conditions, tying the evaluation of local officials to environmental targets, publishing a national climate change policy, and establishing a high level leading group on climate change, headed by Premier WEN Jiabao. The Chinese government seeks to add energy production capacity from sources other than coal and oil as its double-digit economic growth increases demand. Chinese energy officials in 2007 agreed to purchase five third generation nuclear reactors from Western companies. More power generating capacity came on line in 2006 as large scale investments - including the Three Gorges Dam across the Yangtze River - were completed.

https://www.cia.gov/library/publications/the-world-factbook/print/ch.html