Riot after Chinese teachers try to stop pupils cheating

"Last year, the city received a slap on the wrist from the province's Education department after it discovered 99 identical papers in one subject. Forty five examiners were 'harshly criticised' for allowing cheats to prosper. So this year, a new pilot scheme was introduced to strictly enforce the rules. By late afternoon, the invigilators were trapped in a set of school offices, as groups of students pelted the windows with rocks. Outside, an angry mob of more than 2,000 people had gathered to vent its rage, smashing cars and chanting: 'We want fairness. There is no fairness if you do not let us cheat.'" Continue reading

Continue ReadingRiot after Chinese teachers try to stop pupils cheating

Mission Accomplished: China Gets Half of Iraq’s Oil.

"You may remember the promise of the neocons in 2003: America’s war with Iraq would be paid for by Iraqi oil. Besides, the war would cost only $50 billion — $60 billion, tops. The war cost $2.2 trillion — $3 trillion, tops — and the oil is being gobbled up by China. The story of how China is buying almost half of Iraq’s oil has not gotten much attention. It does not seem to be consistent with President Bush’s war aims. But that’s how the fortune cookie crumbles. The war cost the Chinese government nothing. It is now using its newly printed counterfeit money to buy the oil that it could not legally buy under the Clinton Administration’s oil export restrictions on Iraq." Continue reading

Continue ReadingMission Accomplished: China Gets Half of Iraq’s Oil.

China’s Currency Could Appreciate 500% In Next Three Decades, Investor Jim Rogers Says

"Famed investor and co-founder of the Quantum Fund, Jim Rogers said in Shanghai that he expects renminbi, China’s currency, to appreciate 300, 400 or even 500 percent in the next 20 to 30 years, stunning and prompting a debate in the forex industry. Rogers also indicated that the yuan may replace the dollar one day, Daily Economic News, a Chinese financial and economic news portal, reported. 'If anyone wants to sell renminbi, I’d be willing to buy,' Rogers said. Compared to the yuan’s value in 2005, Rogers expects it to appreciate by as much as 500 percent in the future." Continue reading

Continue ReadingChina’s Currency Could Appreciate 500% In Next Three Decades, Investor Jim Rogers Says

How China Spawned a Bitcoin Industry in Three Months (and Why it Might be Doomed)

"Techweb reports that China’s bitcoin scene now has everything from professional bitcoin investment services to customized bitcoin mining chip manufacturing. And indeed, wherever we looked, it seems services have sprung up, or grown significantly in popularity. For example, where the West has Mt. Gox, China now has a variety of its own platforms including btcchina, btctrade, FXBTC, and Bter (among others). And while some of those have been around for quite a while, their popularity over the past few months has skyrocketed. The big question mark surrounding all of this, of course, is what China’s government will ultimately say about the all-digital currency." Continue reading

Continue ReadingHow China Spawned a Bitcoin Industry in Three Months (and Why it Might be Doomed)

U.S. bill would deny visas to known hackers

"A group of lawmakers proposed legislation Thursday that would deny US entry and freeze the assets of foreign nationals involved in hacking or cybercrimes targeting the United States. The Cyber Economic Espionage Accountability Act calls US authorities 'to bring more economic espionage criminal cases against offending foreign actors,' the lawmakers said in a statement. The bill would also ban foreigners participating in cyber crimes from getting visas to enter the United States. If they are US residents, their visa would be revoked and their financial assets frozen under the proposal." Continue reading

Continue ReadingU.S. bill would deny visas to known hackers

Swiss police smash Chinese trafficking ring

"Swiss police have smashed a syndicate that allegedly used fake documents to smuggle Chinese into the alpine nation. In all, 57 people were arrested out of 349 taken in for questioning during an extensive police operation. The group is suspected of coordinating the illegal entry and employment of Chinese citizens in restaurants in Switzerland using forged passports and visas which were seized by police. The operation centered on canton Zurich, where 30 restaurants were raided at lunch time, the police said in a statement on Wednesday." Continue reading

Continue ReadingSwiss police smash Chinese trafficking ring

Swiss police smash Chinese trafficking ring

"Swiss police have smashed a syndicate that allegedly used fake documents to smuggle Chinese into the alpine nation. In all, 57 people were arrested out of 349 taken in for questioning during an extensive police operation. The group is suspected of coordinating the illegal entry and employment of Chinese citizens in restaurants in Switzerland using forged passports and visas which were seized by police. The operation centered on canton Zurich, where 30 restaurants were raided at lunch time, the police said in a statement on Wednesday." Continue reading

Continue ReadingSwiss police smash Chinese trafficking ring

Swiss police smash Chinese trafficking ring

"Swiss police have smashed a syndicate that allegedly used fake documents to smuggle Chinese into the alpine nation. In all, 57 people were arrested out of 349 taken in for questioning during an extensive police operation. The group is suspected of coordinating the illegal entry and employment of Chinese citizens in restaurants in Switzerland using forged passports and visas which were seized by police. The operation centered on canton Zurich, where 30 restaurants were raided at lunch time, the police said in a statement on Wednesday." Continue reading

Continue ReadingSwiss police smash Chinese trafficking ring

Swiss police smash Chinese trafficking ring

"Swiss police have smashed a syndicate that allegedly used fake documents to smuggle Chinese into the alpine nation. In all, 57 people were arrested out of 349 taken in for questioning during an extensive police operation. The group is suspected of coordinating the illegal entry and employment of Chinese citizens in restaurants in Switzerland using forged passports and visas which were seized by police. The operation centered on canton Zurich, where 30 restaurants were raided at lunch time, the police said in a statement on Wednesday." Continue reading

Continue ReadingSwiss police smash Chinese trafficking ring

Swiss police smash Chinese trafficking ring

"Swiss police have smashed a syndicate that allegedly used fake documents to smuggle Chinese into the alpine nation. In all, 57 people were arrested out of 349 taken in for questioning during an extensive police operation. The group is suspected of coordinating the illegal entry and employment of Chinese citizens in restaurants in Switzerland using forged passports and visas which were seized by police. The operation centered on canton Zurich, where 30 restaurants were raided at lunch time, the police said in a statement on Wednesday." Continue reading

Continue ReadingSwiss police smash Chinese trafficking ring