Chinascope – Page 1110

Huanqiu: The U.S. Uses the RMB Exchange Rate Problem as a Scapegoat

According to an October 28, 2010, article in Huanqiu, the United States has been strategically depreciating the U.S. dollar. The strategic depreciation of the dollar is leading to the U.S. dollars’ strategic violation of contracts, and is shrinking and even offsetting its foreign debt.

The article concludes that “the RMB exchange rate” problem is a “scapegoat” that the U.S. uses to transfer its internal contradictions and mislead international public opinion.

Sources:
Huanqiu, October 28, 2010
http://opinion.huanqiu.com/roll/2010-10/1207764.html

Briefings | | November 1, 2010 | US-China Relations

International Herald Leader: The CNC is 100 Days Old

[Editor’s Note: CNC, China’s Xinhua News Network Corporation, is a global TV network under the Chinese government’s Xinhua News Agency. On July 1, 2010, it launched an English channel in Hong Kong, “aiming at the English-speaking audiences around the entire world.” “CNC has entered the same stage as CNN and the BBC.” The following is a translation of an excerpt from an International Herald Leader article “The CNC is 100 Days Old.” It provides some details about the growth of CNC.] [1]

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Reports | | October 31, 2010 | Report

Yangcheng Evening News: Renminbi over the Limit of Affordability for Enterprises in Guangdong

The Economy and Information Committee of Guangdong Province published a news briefing on October 26. In it, the leaders of the Committee explained that the appreciation of the Chinese renminbi is already over the limit of affordability for most industrial enterprises in Guangdong Province. If the renminbi continues to strengthen in value this year, the majority of enterprises that export products and have a low profit margin will be unable to maintain normal operations and will therefore fold. The Deputy Director of the Guangdong Economy and Information Committee, Li Xiongming, said that the enterprises in Guangdong Province currently can only afford a two percent appreciation of the renminbi per year.

Source:
Yangcheng (Canton) Evening News, October 27, 2010
http://www.ycwb.com/epaper/ycwb/html/2010-10/27/content_955634.htm

Briefings | | October 29, 2010 | Economy/Resources

CASS Blue Book: China Will Become the Second Strongest Country in the World

The Chinese Academy of Social Sciences (CASS) issued the 2010 National Competitiveness Blue Book in Beijing on October 25. The Blue Book delineates China’s strategic goals in national competitiveness. They are: By 2020, China’s national competitiveness will reach the leading countries of the world and rank among the top five countries in G20. By 2030, China’s comprehensive competitiveness will be behind only the U.S. and the E.U. By 2050, China will become the second strongest country in the world, surpassed only by the United States.

Source: Southern Metropolitan Daily: October 26, 2010
http://nf.nfdaily.cn/nfdsb/content/2010-10/26/content_17021179.htm

Briefings | | October 29, 2010 | Government/Politics

China Provides Lebanon with Military Supplies

On October 27, 2010, the Chinese Embassy in Lebanon donated eight million yuan (US$1.18 million) worth of batteries, tents, and other military supplies to the Lebanese Army. Chinese Ambassador Liu Ziming and Lebanon Army Deputy Chief of Staff Hanna signed an exchange certificate at a formal ceremony. Liu praised the role of Lebanon’s Army in maintaining the security and stability of Lebanon. He also said that China pays close attention to the development of both countries and armies.

Source: Xinhua, October 27, 2010
http://news.xinhuanet.com/world/2010-10/27/c_12708639.htm

Briefings | | October 29, 2010 | Geo-Strategic Trend

China Business Times: U.S. Companies Responsible for China’s Real Estate Bubble

Huanqiu reprinted an article from China Business Times stating that U.S. Wall Street companies are responsible for the real estate bubble in China. China’s real estate bubble is being driven up by speculation on Wall Street. "They use all available tools, sometimes to sing the blues, and other times to flatter the Chinese real estate market. Their sole purpose is to make a profit.” Take MSREFIII International and MSREFIV International (both Morgan Stanley funds), for example. According to the article, 50% of their funds went to China where Morgan Stanley obtained Chinese government support and approval to jointly develop real estate with Chinese partners. They soon bought out their Chinese partners and took over control of the real estate. “They have now sold out their residential and office buildings. … Their profits on paper are at least 100%,” said the article.

Source: Huanqiu, October 15, 2010
http://finance.huanqiu.com/roll/2010-10/1172836.html

Briefings | | October 28, 2010 | Economy/Resources

China Central Bank: Price Increases Cannot be Ignored

China’s central bank, The People’s Bank, issued its third quarter economic analysis on October 27, 2010. The analysis states that, compared to the second quarter, the market fears of an excessive downturn in the economy have receded; China’s economy is showing clear signs of stabilization, but pressure on prices cannot be ignored. The pressure comes from price hikes in food, the reform of income distribution and resource prices, as well as uncertainty about bulk commodity prices in the international market.

Source: Xinhua, October 27, 2010
http://news.xinhuanet.com/2010-10/27/c_13578505.htm

Briefings | | October 28, 2010 | Economy/Resources

Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized

Xinhua Commentaries: “Exposing the Three Major Political Deficits of the U.S.”

The CCP’s Performing Arts Troupes in the U.S.