All posts by RWZ - 293. page

BBC Chinese reported from Australia that according to a recent poll, more than half of Australians are against the Chinese acquisition of Australian mining assets. Yet, nearly an equal amount of people polled are for or against keeping close ties with China.

The media played an important role in bringing the heated debate between the ruling party and the opposition to the general public.

“Communist China” was frequently used in reference to China in the report.
 
Source: BBC Chinese, April 6, 2009. http://news.bbc.co.uk/chinese/simp/hi/newsid_7980000/newsid_7986000/7986049.stm

The International Finance News for Chinese state media People’s Daily reported that six industries started to enjoy increased export tax rebate rates on April 1. The six industries are Apparel and Textiles, Light Industry, Electronics and Information, Steel, Nonferrous Metal, and Petrochemical.

This is the second time China has increased export tax rebate rates this year. Export companies welcomed the move in general. However, some suggested that due to the decline of exports they tend to sell more goods to the domestic market. Also, due to the international financial crisis, the rate increase may result in more anti-dumping investigations.

Source: International Finance News/People’s Daily, April 1, 2009.
http://finance.people.com.cn/GB/1037/9060251.html

International Herald Leader, under Xinhua News, reported from Beijing that traditional protectionism is no longer the primary weapon against China. Some countries are attacking “Made in China” with “mutated” protectionism.

European and American countries are currently hiding protectionism behind accusations raised by their NGOs. Examples are attacks under the names of “animal protection” and “labor rights”. The Xinhua report concluded that, the goal of this kind of “hidden” protectionism is to reduce imports from China. The report also suggested that Chinese NGOs should fight back by various means.

Source: Xinhua Net, March 31, 2009.
http://news.xinhuanet.com/herald/2009-03/31/content_11104980.htm

China recently suggested the creation of a “global currency” to replace the US dollar. The US is firmly against the proposal. US President Obama told the press on the March 24 that “the US dollar is extraordinarily strong.” Primary US economic officials retorted on the same day.

Despite US rebuttal, Mr. Zhou Xiaochuan, Governor of the central bank of China, mentioned this “international reserve currency” issue again on March 25. The new members of the G20 are skeptical about the current international currency system.

The article quoted a Russian official announcement on the necessity of a G20 discussion on a new IMF international currency. The British Prime Minister was also quoted on his dismissal of such a discussion.

Source: The Chosun Ilbo, March 26, 2009
http://chn.chosun.com/site/data/html_dir/2009/03/26/20090326000033.html

Global Times, under Chinese state daily news, Renmin, reported from New York that the United States responded strongly against China’s call for a new international reserve currency to replace US dollar.

The report referred to an AFP article which quoted President Obama as stating that the“US dollar is extraordinarily strong” on March 24.
 
Earlier, US Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner both agreed that they’ll “unconditionally” refuse the switch to an international currency. The Wall Street Journal reported the story in an article entitled :“China Points the Finger at US Dollar”. The New York Times believes that this demonstrates China’s worry about the safety of its assets in US dollars as well as China’s intent to use this as a playing card in the G20 Summit.

Source: Renmin/Global Times, March 25, 2009
http://world.huanqiu.com/roll/2009-03/414150.html