China's Modern Economy 中国现代经济 meets TuTh 11:45-1:15 Huntley 230
According to Reuters, China’s energy administration announced that they will close nearly 1800 small-scale coal mines over the course of 2014. The move is, in no doubt, response to several major cities within China being hit by multi-day series of smog and extreme air pollution. The air pollution is many times the level considered to… Continue reading Chinese Government Slashing Down on Coal Mines
60 Minutes ran a story about the existence of these “ghost cities” in August of 2013. According to a financial analysis group based out of Hong Kong, Forensic Asia, this is evidence of a coming market crisis. If the market crisis were to happen, it would have similar, if not more severe effects that the… Continue reading Ghost Cities Could Make a Comeback
According to Gwynn Guilford, a writer for Quartz, the Chinese government does not want the economy to continue growing. Premier Li Keqiang wants to stimulate the economy, mainly by accelerating railway construction, public housing and slashing taxes for small businesses. To foot the bill, however, the government wants banks to fund these endeavors. However, building… Continue reading Railways and Public Housing Isn’t China’s Saving Grace
According to a Quartz article, the rail network in China is beginning to draw consumers away from other modes of transportation, specifically airlines. China Southern Airlines, one of the companies suffering from the newest railway expansion, reported terrible results for their 2013 year. According to the article, their net profit dropped 24% and their operating… Continue reading China’s High Speed Train System: Too Successful?
According to a veteran Hong Kong filmmaker, Cheung Chi-sing, the film industry in China may be on the decline. The vice chairman of the Federation of Hong Kong Filmmakers spoke at a FilMart conference about the challenges of staying competitive in a market where production costs and other fees are soaring out of control. In… Continue reading China Film Industry on the Decline
Government officials in China are stuck in between a rock and a hard place when it comes to the crisis in Ukraine. It would be reasonable to think that China would sympathize with Putin and his actions involving Ukraine, but China has also been a strong in opposing actions that interfere with other countries’ internal… Continue reading China’s Stance on the Crisis in Ukraine
Charity Dhliwayo, the acting governor of the Reserve Bank of Zimbabwe announced that Zimbabwe’s central bank would accept the Chinese yuan and two other Asian currencies as legal tender. Dhliwayo said, “Trade and investment ties between Zimbabwe, China, India, and Japan have grown appreciably”. Zimbabwe had to abandon their currency after their economy became rife… Continue reading Zimbabwe Adopts Chinese Yuan as Legal Currency
An article was released on March 8 that shows China pledging to defend each inch of its territory and eliminated any possible shred of compromise with Japan. Foreign Minister Wang Yi told a press conference that, “On the two issues of principle, history and territory, there is no room for compromise”. The relation between the… Continue reading Tensions Rise as Japan and China Dispute Territory Issues
According to Benjamin Schobert, a writer for Forbes, the pharmaceutical company Actavis has decided to pull out its investments in China. This comes as a surprise, since the growing pharmaceutical market in China would suit Actavis’ investments. So why did they decide to pull out of China? It is addressed that there are possibly… Continue reading Risks Outweigh the Benefits for Actavis in China
According to an article in China Outlook, much of the Chinese government would be ecstatic to discuss the success of the New Cooperative Medical Insurance Scheme (NCMS). This health insurance plan is aimed to cover the majority of the rural Chinese, and was launched nearly a decade ago. The article sites cites that nearly 99%,… Continue reading Health Insurance Falling in Popularity with Rural Poor