All posts by RWZ - 232. page
People’s Daily: China’s Social Security Consumes 40% of Wages
Xinhua: Korean Media Discuss U.S. Military Strategic Adjustments in Korea
Xinhua: The Middle East Factor in Global Oil Prices
http://news.xinhuanet.com/world/2012-06/17/c_112232772.htm
HSBC PMI for China’s Manufacturing Sector Continues to Decline
CNForex recently reported that HSBC reported the official May PMI (Purchasing Managers Index) number for the Chinese manufacturing sector to be 48.4. The index has remained under 50.0 for 7 consecutive months, which indicates that the manufacturing sector has been shrinking. It is believed that the PMI number reflects that the current economy is suffering from weak domestic and international demand, causing manufacturing companies to have a reduced output. Statistics show that, in May, these companies employed the lowest number of laborers in the last 3 year. The unemployment rate in this sector is increasing. Also in May, inventory declined and product prices dropped. PMI is an indicator of financial activity; it reflects purchasing managers’ acquisition of goods and services. A PMI number below 50 typically is an indication of decline.
Source: CNForex, June 1, 2012
http://www.cnforex.com/news/html/2012/6/1/f28feb312993372e1fe7438418ded68d.html
CRN: Romney’s Anti-China Comments Cause Worries
China Review News (CRN) recently published a review of an article form the Financial Times that discussed U.S. presidential candidate Mitt Romney’s position on US-China relations. Romney’s team recently suggested that the United States “won’t lose anything” if it goes against China and there is nothing to worry about in terms of a trade war. Romney is taking a tough position against China and has been calling China a country that manipulates the currency exchange rate. His position is considered much less soft than that of the former Republican president George W. Bush. Though Romney’s China policies cause worries even among the Republicans, it seems Romney’s team is making them a core part of the campaign image that is designed to differentiate him from the White House. However some Democrats believe that this is just an election year show because Romney’s China position is against the free-market philosophy that he has also been promoting.
Source: China Review News, June 6, 2012
http://www.zhgpl.com/doc/1021/3/2/7/102132722_2.html?coluid=59&kindid=0&docid=102132722&mdate=0606144244
Xinhua: Reader’s Digest Closed Down in China
Xinhua reported that, on May 28, 2012, Reader’s Digest closed down its operations in China. The news resulted in widespread discussion among senior Chinese media workers. Reader’s Digest started its international Chinese edition in the year 1965. The simplified Chinese edition was officially published in China in 2008. The Xinhua reporter actually contacted the U.S. headquarters of Reader’s Digest to confirm the closure. He received confirmation that the paper edition did cease distribution. No detailed reason was officially provided. The reporter was told that the Chinese market represented only a very small portion of the total operation of the magazine. A digital version is possible in the future. Reader’s Digest suffered a long period during which it fought for for its copyright and trademark rights in China. In recent years, many foreign magazines, such as Scientific American, have given up on the Chinese market, .
Source: Xinhua, June 9, 2012
http://big5.xinhuanet.com/gate/big5/www.js.xinhuanet.com/xin_wen_zhong_xin/2012-06/09/content_25369623.htm
CRN: China’s Nationwide Flood Season Started
China Review News (CRN) recently reported that China’s national flood season officially started on June 1, 2012. All flood control headquarters for China’s river systems switched to full gear operations. According to the Bureau of National Weather Services, this year’s outlook is not optimistic. This year’s primary rainy season is expected to have a worse impact than last year’s. Based on national records, across the nation more than 40,000 small-scale reservoirs still experience different levels of safety risks. Chen Lei, the Minister of Water Resources and Deputy Chief of the National Flood Control Headquarter, recently required those who do flood control work to place a significant emphasis on preventing these reservoirs from collapsing. In Hubei Province alone, along the Yangtze River, the banks have already collapsed in 142 different places. The Yangtze River is the largest river in China.
Source: China Review News, June 1, 2012
http://www.zhgpl.com/doc/1021/2/8/2/102128278.html?coluid=45&kindid=0&docid=102128278&mdate=0601230650