china

Top Chinese official warn of ‘empty cities’ emerging in China

"In a grim warning against rapid urbanisation in China, a top development official has said that reckless expansion of cities has turned many of them into ghost towns with no occupants in sight. Qiao Runling, deputy director of the China Centre for Urban Development, said local governments had relied on quick urbanisation to stimulate economic growth and generate fiscal revenue. State-run broad cater CCTV recently carried a report showing two such 'ghost cities' with massive apartment and commercial complexes with no occupants, leaving local governments in deep debts." Continue reading →

Continue ReadingTop Chinese official warn of ‘empty cities’ emerging in China

A Second Shot at History’s Greatest Investment Trend

"China is on the verge of rolling back its infamous one-child policy. When it does – likely later this year or early next year – a modern baby boom will erupt. The Chinese birth rate will ratchet higher as Chinese families are finally free to have a second child, and a spending wave will wash across the Middle Kingdom that will spawn potentially massive profits for those who invest in this demographic wave. Thus it is that China’s future is your chance to go back in time and own the kinds of stocks – McDonald’s, J.C. Penney, Coca-Cola and others – that generated fortunes for investors as they moved into their explosive growth phase because of the boomers." Continue reading →

Continue ReadingA Second Shot at History’s Greatest Investment Trend

Bitcoin Spawns China Virtual IPOs as U.S. Scrutiny Grows

"The Bitcoin craze is catching on in China. A small but growing group of investors in China have put the country into contention with the U.S. as the biggest downloader of the virtual money that’s being used to buy a growing range of goods and services online. While intensified scrutiny by U.S. regulators casts doubt on the currency’s future there, China’s Bitcoin industry is expanding. The China Securities Regulatory Commission didn’t respond to a faxed query on whether it’s looking at new rules regarding Bitcoin. So long as it remains small, the industry may continue to fly below the radar screen." Continue reading →

Continue ReadingBitcoin Spawns China Virtual IPOs as U.S. Scrutiny Grows

Want to invest in Cuba? Learn how to wait

"The buildings, the roads, the power grid, the water system—all need updating after decades of neglect under a socialist regime. After CNBC spent a week in Cuba meeting with the leaders overseeing economic reforms, it's unclear whether authorities are ready to make the changes necessary to become attractive to investors on a large scale. One place where such investment is visible is in the oil and gas industry. Driving toward Varadero, a team from CNBC spotted at least one oil drill bearing Chinese flags. As for any kind of large-scale privatizations, investors will have to keep waiting." Continue reading →

Continue ReadingWant to invest in Cuba? Learn how to wait

Son of legendary Chinese Communist military leader apologizes for Cultural Revolution

"The son of a legendary Communist military leader and politician in China has publicly apologised for persecuting people at his school during the Cultural Revolution, according to a blog. Chen Xiaolu offered his remorse to teachers, staff and students at his former school in Beijing for leading denunciations and sending people to labour camps. Chen said that while there were moves by some in China to argue in favour of the Cultural Revolution, such 'inhumane violations of human rights should not appear again in any form in China'." Continue reading →

Continue ReadingSon of legendary Chinese Communist military leader apologizes for Cultural Revolution

Bitcoin and China: More than Meets the Eye?

"If the Chinese government intends to steer the country toward being an effective post-industrial economy, then offering increased economic freedom and a pro-innovation environment is the way to go. Perhaps there is indeed an 'avant garde' in the Chinese government, which sees Bitcoin as a place to make one of its first moves. Or, perhaps, China’s Bitcoin-friendliness is still simply the result of government blindness, and a crackdown is due to come in two or four months. But with every passing week the alternative hypothesis is becoming increasingly likely; perhaps China’s Bitcoin acceptance has more behind it than meets the eye." Continue reading →

Continue ReadingBitcoin and China: More than Meets the Eye?

Declassified intelligence reveals U.S.-India Cold War cooperation on U2 spy missions

"A declassified American intelligence report on the use of U-2 spy planes has shed new light on cooperation between the United States and India during the Cold War. The document traced the role of the US in monitoring Chinese incursions into India, at the request of New Delhi, which enjoyed a close relationship with the Soviet Union. Following the Sino-Indian conflict of October 1962, when China launched surprise attacks against Indian frontier forces, 'the Indian government appealed to the United States for military aid,' according to CIA historians who traced the events. India allowed the United States to build a base in India for the secret spy planes." Continue reading →

Continue ReadingDeclassified intelligence reveals U.S.-India Cold War cooperation on U2 spy missions

The Devolution of Financial Privacy

"It’s been no secret that China views FATCA very unfavorably and negotiations towards compliance are going nowhere. It seems unlikely that the US would hit China with the 30% withholding tax for non-compliance. With China holding roughly $1.2 trillion in US Treasuries, it’s not as if it lacks its own leverage over the US government. This leaves the FATCA juggernaut stuck in a Sino-US standoff. It appears the US will have to either make serious concessions to win China over or back down on the 30% non-compliance tax. Should China stand its ground and not compromise on FATCA, it would punch a massive hole in global compliance." Continue reading →

Continue ReadingThe Devolution of Financial Privacy

Doctor claims breakthrough in race for spinal cord injury ‘cure’

"After progress in a second round of tests using stem cells to regrow nerve fibres, the China Spinal Cord Injury Network (ChinaSCINet) has applied for regulatory approval in China for a third and final phase, which it hopes to start in the autumn. 15 out of 20 patients in the Chinese city of Kunming, who received umbilical cord blood cell transplants and intensive walking therapy, were on average able to walk with minimal assistance seven years after complete spinal cord injury. The treatment involves injecting umbilical cord blood mononuclear cells into patients’ damaged spines to help regenerate nerves, while lithium is used to promote the growth of the nerve fibres." Continue reading →

Continue ReadingDoctor claims breakthrough in race for spinal cord injury ‘cure’

Aging Chinese apologize for their roles in the Cultural Revolution

"As a teenager radicalised by China’s Cultural Revolution, Zhang Hongbing denounced his mother to the authorities. Two months later a firing squad shot her dead. Now after more than 40 years of mounting guilt, Zhang has ruffled the silence that cloaks China’s decade of turmoil with a public confession. 'Red Guard' youths abused their elders — officials, intellectuals, neighbours, relatives — dragging them into 'struggle sessions', ransacking their homes and driving some to suicide. Only a handful of public confessions have appeared, mostly in recent years as the Revolution’s once-heady teenagers enter their 60s." Continue reading →

Continue ReadingAging Chinese apologize for their roles in the Cultural Revolution