Word: beijingers
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For a Vice-Minister accustomed to running a branch of China's government as his own virtual fiefdom, the sentence must have come as a surprise. On Tuesday, a Beijing court handed down a death penalty for Zheng Xiaoyu, the former head of the State Food and Drug Administration (SFDA...
With Shanghai stocks now trading at an average of about 38 times their projected 2007 earnings-a high ratio even for a fast-growing developing economy-China is causing a serious case of the shakes. The issue isn't simply that the little guys are in danger of losing their...
Fixing problems is difficult in a democracy, argue Indian officials. True, compared to Beijing, which can decide to build a road today and start on it tomorrow, Indian authorities have to consult and win over the people. Many politicians use democracy, however, not to ensure that development is better than...
By contrast, many economists believe the only mechanism to address the global trade imbalance is a large, one-off currency revaluation in Beijing, increasing the value of the RMB significantly and enduring the domestic economic pain this would cause. More than anything, this would show the world Beijing is serious...
For the time being, at least, Beijing will continue to be a buyer of U.S. Treasury debt, helping keep interest rates low and the U.S. economy out of recession. But Paulson must know that the current trade relationship with China is seriously out of whack, and that something needs to...