Word: china
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...system that holds the promise of unlocking new cures is attached to a health care system that has the potential to bankrupt families and businesses and our government. A global marketplace that links the trader on Wall Street to the homeowner on Main Street to the factory worker in China -- an economy in which we all share opportunity is also an economy in which we all share crisis. We face threats to our security that seek -- there are threats to our security that are based on those who would seek to exploit the very interconnectedness and openness that...
...While we have avoided the worst recession since the Great Depression, we are probably heading for another asset bubble and more financial turbulence," Qin Xiao, chairman of China Merchants Group, wrote in Thursday's Financial Times. Qin said he didn't think "a quick, steep bounce driven by fiscal fixed investment is a good thing for China," adding that the current loose monetary policy should shift to neutral. On Thursday, Hong Kong's Hang Seng Index dropped by 0.5% and the Shanghai Composite Index fell 0.6% on concerns that China would begin to tighten monetary policy in response to fears...
...economists said the country is likely to keep its foot on the gas to ensure the recovery doesn't falter. On Wednesday, the State Council, China's cabinet, said it would focus on achieving a balance between promoting growth, rebalancing the economy and "managing inflation expectations." Nomura economist Mingchun Sun argues that because the State Council's statement emphasized "expectations," rather than inflation itself, the government doesn't believe inflation is a major risk and will maintain a loose monetary policy in the near future...
...Despite China's strong rebound this year, Chinese officials remain cautious. On Sept. 11 Premier Wen Jiabao said "the stabilization and recovery of the Chinese economy is not yet steady, solid and balanced." China's stimulus package - the equivalent of 14% of GDP - focused on large infrastructure projects, work often done by large state-owned construction firms. Similarly, the lending spree was primarily directed at state-owned enterprises that offer banks an implicit guarantee that the government will cover outstanding debts. The downturn in exports mainly hurt small- and medium-sized firms in the south, which are usually private owned...
...China has subsidized purchases for some goods including small passenger cars and household appliances, which has led to a boom in spending in certain sectors. Passenger vehicle sales climbed 84% last month, and China is expected to surpass the U.S. as the largest car market this year. Consumers have also bought hundreds of thousands of refrigerators, washing machines and other appliances under a government promotion this year. (See pictures of the best-selling cars in China...