Word: wen
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...retribution for a soured deal with Chinalco, China's huge state-owned aluminum producer, he wasn't showing it. He wasn't even in Shanghai but in Beijing, making an extremely conciliatory speech at the China Development Forum - a Davos-like conference for dozens of corporate chieftains. Premier Wen Jiabao attended, and global CEOs lined up obligingly for the handshake. (Read "Searching Questions: Internet Searches in China...
...currency needs to rise versus the dollar. But at a moment when U.S. unemployment is close to 10%, Beijing feels that it is being made a scapegoat for economic problems that are, let's face it, very much made in the U.S.A. It has fired back fiercely. Premier Wen has called any talk about currency revaluation a form of "protectionism." His Commerce Minister later added that in any dispute between the two countries, "Americans and American companies" would suffer more than their Chinese counterparts. (See 25 sites we can't live without...
...same time, Wen has also said that "no one wants a trade or currency war." Even as the China Development Forum was taking place, Wen noted that a Chinese envoy was en route to Washington to discuss trade issues, and pointed with hope to a May session of the biannual Strategic and Economic Dialogue, at which high-ranking delegations from both sides will sit down in Washington. "You got a sense," says an American participant, "that he wants calmer heads to prevail...
...During his opening address to the NPC, Premier Wen said that 2010 was going to be a year of unprecedented economic complexity. He certainly got that right. A real estate downturn, perhaps a severe one, will hit China sooner or later. The problem is that if it arrives sooner, the world's fastest-growing economy doesn't have a whole lot to fall back on. Its export markets are still weak and its capacity to increase infrastructure spending again, after the massive increases of the past two years, is limited. With the rest of the world still trying to regain...
...While northern China has been battered by sandstorms this spring, traditionally soggier south China has been battling drought. Premier Wen Jiabao spent the weekend touring drough-stricken villages in Yunnan province, where many areas have received half the usual rainfall. Sixteen million people in the region are now suffering drinking water shortages, according to state media. The Dai ethnic group, which is concentrated near the Burmese border in western Yunnan, has even been encouraged to cut back on the amount of water used during the upcoming Water Splashing Festival it celebrates each year to mark the arrival of spring...