Chinascope – Page 916

Xinhua: Canada Extended Review Schedule for CNOOC Acquisition of Nexen

Xinhua recently reported that Paradis, the Canadian Minister of Industry, announced on October 10, 2012, that the federal schedule for review of China National Offshore Oil Corporation’s (CNOOC’s) acquisition of the Canadian energy company Nexen will be extended for 30 more days. Under the Investment Canada Act, the transaction is subject to the approval of the Federal Government of Canada. The Act was designed to regulate transactions over CAN$330 million to ensure that Canada will enjoy a “net profit.” If the US$15.1 billion acquisition is successful, it will become China’s largest acquisition of an overseas company. Paradis’ announcement suggested that the case is under “complete, careful, and strict” review. Nexen is a global independent energy company listed on the Toronto and New York stock exchanges. The company focuses on the development of Western Canada’s oil sands and shale gas, as well as conventional oil and gas exploration in the North Sea, offshore West Africa, and the deep-water Gulf of Mexico.

Source: Xinhua, October 12, 2012

http://news.xinhuanet.com/fortune/2012-10/12/c_123812747.htm

Briefings | | October 18, 2012 | Geo-Strategic Trend

CRN: China’s Era of Cheap Capital is Over

China Review News (CRN) recently published a commentary discussing a major economic turning point in that China will no longer be able to rely on an overabundance of residents’ savings. China’s past economic growth heavily relied on cheap capital provided by the savings people had in the bank. Because of these savings, China had a very low investment cost to subsidize its globalization effort. China’s growth also relied on an extremely low costs for labor, land, natural resources, and environmental protection. However, the prices of these factors of production have been increasing and are about to reach a point where a revaluation will be inevitable. Chinese society is aging, which will result in a decline in the size of the labor force. China is also facing a bottleneck in the area of natural resources, along with a seriously declining living environment. Low efficiency and pollution are raising serious questions about the sustainability of China’s growth. The recent global downturn is causing a heavy decline in market demand. The global capital flow is experiencing a process of re-balancing. China’s current export-oriented model will have to face the challenge of a major adjustment.

Source: China Review News, October 11, 2012

http://www.zhgpl.com/doc/1022/6/3/9/102263933.html?coluid=53&kindid=0&docid=102263933&mdate=1011065658

Briefings | | October 18, 2012 | Economy/Resources

Sany Holds Press Conference on Lawsuit against Obama on Wind Farm Sale

Xinhua reported that Sany Group, a plaintiff in a lawsuit against President Obama for blocking its purchase of wind farms near a U.S. military base, will hold a press conference on October 18, 2012, to provide an update on the case. On September 28, 2012, Obama signed a decree banning the sale of four wind farms in Oregon to the Ralls Corp. and its Chinese affiliate, Sany Group, on national security grounds. “As for this incident, Xiang Wenbo (the president of Sany) expressed that ‘hopefully the upcoming press conference will, in addition to clarifying the true facts, allow Chinese to further understand America and international trade, and to learn how to audaciously protect the rights of Chinese companies during the process of globalization.’”

Source: Xinhua, October 17, 2012
http://news.xinhuanet.com/fortune/2012-10/17/c_123831810.htm

Briefings | | October 18, 2012 | US-China Relations

Is the 18th Party Congress a Meeting for the Parents of U.S. Citizens?

On October 15, 2012, China Gate reprinted an article, originally from Apple Daily, titled “How Many at the 18th Party Congress Are Either Foreign Nationals or the Parents of U.S. Citizens?”

According to the article, both leftists (followers of Mao and Bo Xilai) and rightists (followers of Deng Xiaoping) in China are asking to investigate and publicize the truth about the following news: 1) 16,000 – 18,000 corrupt officials have escaped from China since the middle of the 1990s with 800 billion yuan (US$128 billion); 2) A total of 204 CCP Central Committee members, 167 alternate members, and 127 members of the CCP Central Commission for Discipline Inspection have their foreign relatives (including 349, 591, and 582 relatives respectively), a total of 1522 family members, who are citizens of the U.S., Europe, or other countries. The leftists want to use the figures as an excuse to return to the Mao era; while the rightists want to use the examples as the rationale for developing democracy and the rule of law.

Source: China Gate, October 15, 2012
http://www.wenxuecity.com/news/2012/10/15/2035276.html

Briefings | | October 17, 2012 | Government/Politics

New Buzzword: “How Much Advantage Have You Taken of the Country?

On October 11, 2012, China Review News published an article titled, “New Buzzword: ‘How Much Advantage Have You Taken of the Country?’” During and after the eight day national holiday, many Chinese greeted each other starting with, “How much advantage have you taken of the country this time?” Everyone knows that, on the surface, this refers to the toll free policy on expressways for passenger cars under seven seats during the 8-day holiday, when traffic jams were everywhere.

According to the article, on a deeper level, the new buzzword reflects the helpless protests of the Chinese people. The free toll policy is very rare. Most of time, the expressway charges are too high and too frequent.

Source: China Review News, October 11, 2012
http://www.zhgpl.com/doc/1022/6/3/8/102263813.html?coluid=6&kindid=29&docid=102263813&mdate=1011082911

Briefings | | October 17, 2012 | Grapevine

Do You Want another Nuclear Bomb to Drop on Your Country?

On October 12, 2012, China Gate (www.wenxuecity.com) reprinted an article originally published in China News Week titled, “Do Not Be Provocative, Japan. Do You Want another Nuclear Bomb Dropped Down?” On the dispute on the Diaoyu Islands (the Senkaku Islands), the article criticizes both Japan and the U.S. According to the article, the U.S. cannot be a true friend to China because China’s system is different from that in the West. The Chinese government has to continue its support North Korea so as to counteract the United States.

The article ends with a warning to the Japanese government and its people: “Do you want another nuclear bomb to drop on your country?”

Source: China Gate, October 12, 2012
http://www.wenxuecity.com/news/2012/10/12/2030522.html

Briefings | | October 17, 2012 | Geo-Strategic Trend

China’s Harvesting Organs from the Living Raised as Issue in the 2012 Election Campaign

According to a report from NTDTV (a Chinese language TV station based in North America), during a private fundraising event for Romney’s 2012 election campaign, Falun Gong practitioners raised a question about the many Falun Gong practitioners in China who lost their lives when the Communist regime harvested their organs while they were still alive (so the organs would be fresh). In answering the question, John Bolton, Romney’s foreign policy adviser during his presidential race, responded that the United States should take on the (Chinese) government on this issue. He said, “Such issues will be critical in a Romney administration. … I know he will stand up for this because it is critical to show the world that we pursue not just American interests, but American values.”

Source: NTDTV, October 16, 2012

http://www.ntdtv.com/xtr/gb/2012/10/16/a780782.html.-美大选在即-活摘器官成候选人关注焦点.html.

Briefings | | October 17, 2012 | US-China Relations

Xinhua: Eighty Steel Companies Suffered RMB 3 Billion in Total Losses This Year

Xinhua recently reported that eighty large and mid-sized Chinese steel companies suffered losses in sales that totaled RMB 3 billion (around US$ 478 million) in the first eight months of this year. The month of August was the lowest point of the year. The numbers are based on statistics that the China Steel Association provided. As of September, steel prices had dropped for thirteen consecutive months. This was the longest cycle for dropping prices in the past decade. With the planned start of some new infrastructure construction projects, it is expected that the steel market will see some relief in the fourth quarter. Experts hope that the situation will not get worse and that a slight rebound may be possible.

Source: Xinhua, October 13, 2012

http://news.xinhuanet.com/energy/2012-10/13/c_123818147.htm

Briefings | | October 16, 2012 | Economy/Resources

China’s Reaction to Trump’s Election Win

Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

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