Obama's Speaker's-Corner Cabinet Yin Yang
President-elect Obama will have a "Speaker's-Corner" cabinet in the White House! This statement will be perfectly clear to Chinese companies which prefer London to New York City for their global offices (see ChinaStakes June 19, 2008). London is home of Hyde Park and its famous Speaker's Corner, where anyone can stand on a box and shout at the world. This analogy is not trivial as such is the way that president-elect Obama's cabinet will communicate with China
2009: China's Year of Rising Opportunities, and Challenges
In 2009, China, along with the rest of the world, is at a new historical starting point. The largest post-Cold War change in the world situation is taking place in response to the global financial crisis and economic recession, a rebalance of the global economy. The change will not be sudden and catastrophic but a gradual and, it is profoundly to be hoped, peaceful evolution, and will run from to the middle of the 21st century.
Leading Indicators Show Continuing Economic Slowing
Although the government prop-up package launched in November is beginning to show some effect as it offers industries such as the steel industry big orders in a short period, the situations for the export and non-manufacturing industries are worsening and China's economic slow down is continuing.
3G Ready to Launch before Chinese New Year
To stimulate China's internal demand, the government is readying to grant 3G licenses before China rings in its traditional New Year.
Crackdown on Google, Baidu and Internet Portals Over Porn
China's largest portal websites and search engines, including Google, Baidu, Sina, Sohu, Netease, are being censured for providing or spreading vulgar or pornographic contents, and websites carrying such materials will be shut down during the spring festival.
Housing Market a Drag on into 2009 and Beyond
"If I still can't sell 10 apartments, I'll drink 10 bottles of melamine." --the MSN signature of a sales director of a Beijing-based real estate company.
Fiscal Fall Means Higher Deficit, Grass Roots Fund
Continued economic slowing in 2009 will drag the growth of fiscal income down to its lowest point in near a decade, and the government is looking at a deeper deficit in order to boost domestic demand. Local governments, responsible for over 70% of expenditure, are crying out for greater income resources from the central government, which controls a lion's share of tax income.
Huawei Sees Crisis as Opportunity to Expand
At about 12 midnight on January 2, Huawei employees who were still out holidaying received a joyful e-mail from Chairman Sun Yafang. "Our company maintained stable growth in 2008. Global sales reached $23.3 billion, up 46% year on year, and the percentage of income from the international market exceeded 75% of the total," he told his people.
Shanghai's Office Space Rental on the Edge of a Cliff
Shanghai's recent skyscraper boom has become a source of troubles recently as multinational companies aggressively cut costs to survive the hard times. The commercial building vacancy ratio in Shanghai, especially in the Lujiazui Financial Zone, Pudong District, is rising, and rents are slumping.
Shanghai Lobbies for Financial Center, Liberalized
Shanghai still has dreams of building a financial center to rival those in New York, London, and Hong Kong, even in the teeth of the present economic typhoon, and has submitted a detailed scheme to Beijing that is winding its way with some success through the State Council's approval process.
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