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...Chinese like to save for the sake of savings," says Tan Khee Giap, chair of the Singapore chapter of the Pacific Economic Cooperation Council. "It's that for thousands of years they had to save to protect themselves." In other words, making it easier for other Asian countries to access China's market isn't the same as convincing Chinese consumers to spend more. "The Chinese remind everyone it will take a long time," says Menon of Singapore's Ministry of Trade and Industry. According to Citigroup, China will indeed become the world's largest retail market - by 2030. That...
...least one every month. What is Beijing up to? When China declared 2006 to be the "Year of Africa," hosted 48 African nations at the annual 2006 China-Africa summit and rolled out the red carpet for 17 African heads of state, we assumed it was all about gaining access to oil and minerals to fuel China's awesome economic growth. But there is much more going on than a meet, greet and grab from the African continent. China has big economic plans and ambitions in Africa that go beyond oil and minerals. While much of the world still views...
...export credits to Chinese state-owned companies seeking to build a base in Africa. Incentives are given to Chinese manufacturing and retail businesses in addition to exploration and construction companies. In return for so-called "no-strings-attached" aid and cheap loans to African countries, Beijing expects privileged access to oil and resources, political support in institutions like the U.N., and African governments - be they good, bad or despotic - to give Chinese companies the first opportunities to reach local consumer markets...
...original health reform bill introduced in the House contained no reference to abortion, which both pro-life and pro-choice activists read as allowing coverage of abortion through the so-called public option, a government-run alternative to private insurance plans that some individuals and small businesses would have access to.) They received no response...
...that of residents of the major urban centers creating a mass of 900 million people who still tend to be very heavy savers. Huang suggests that China needs to act aggressively to boost rural incomes, by, for example, extending banking systems deeper into the countryside to give farmers better access to credit to start small businesses. MasterCard's Hedrick-Wong argues that China should also open up service industries now dominated by large, state-owned companies, such as finance, to allow new entrepreneurs to flourish, creating more jobs with higher wages...