BEIJING (AP) - A Western tour company in China said Tuesday it has obtained permission from North Korea for Westerners to make day trips into the country from the Chinese border. Gareth Johnson of Young Pioneer Tours said his Xian-based company _ after years of lobbying _ had received Pyongyangs approval to organize tours for non-Chinese foreigners to the North Korean border town of Sinuiju, which so far has been open only to Chinese tourists. Johnson said he expects the day trips _ which may begin in June _ to be popular among Westerners looking for an affordable and convenient option to visit the largely isolated country. Westerners already can visit North Korean on weeklong organized tours, with an average cost of $1,300 per person, while day trips would cost considerably less and could fit into the travel itinerary of someone who is visiting China, Johnson said by telephone. Sinuiju is connected by bridge to the Chinese city of Dandong along the Yalu River.
Reported by MyNorthwest.com 3 hours ago.
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China-based company promotes North Korea day trip
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Border stand-off isolated, need to speed up boundary settlement: China
New Delhi, May 13 (IANS) Terming the recent border stand-off with India an "isolated" incident, China Monday said both countries needed to "speed up" negotiations on a boundary settlement.
India and China need to "redouble efforts" to push forward negotiations for a "framework" for a solution to the border question, said a Chinese source.
While earlier China had not acknowledged intrusion by their troops into Indian territory on April 15 and even termed it "not true", the Chinese source said here Monday that the incursion by Chinese troops 19 km into India was an "isolated incident".
The border issue "needs time and the political will of both countries", the source added.
Visiting India ahead of the trip of Chinese Premier Li Keqiang, a senior Chinese official said said the manner in which the 20-day stand-of between troops of both countries had been solved, demonstrated the effectiveness of the mechanisms in place to solve such disputes.
The official said both sides, which have held 15 rounds of negotiations between their special representatives, should speed up talks in order to arrive at a "fair, reasonable and mutually acceptable solution at an early date". India and China should also continue to simultaneously improve relations in all spheres, he said.
Qin Gang, spokesperson and Director-General of Information Department in the Chinese Ministry of Foreign Affairs, said India and China while looking at the "important issue of boundary, will have to bear in mind the whole picture of our developing relations. And bear in mind the interest and benefits of good and cooperative China-India relations."
He also said Premier Li and Prime Minister Manmohan Singh are expected to issue a joint statement on the close bilateral ties, with emphasis on trade which stands at over $65 billion.
Chinese troops had intruded 19 km into the Indian side of the Line of Actual Control - the de facto border - on April 15 in the Depsang area of Ladakh and pitched tents. Indian troops had also moved their positions forward, leading to a stand-off which was resolved after three weeks.
The border issue was also raised by External Affairs Minister Salman Khurshid during his May 9-10 Beijing trip. He said later that both sides had agreed not to let the incident come in the way of growth in India-China ties. Reported by Deccan Herald 1 hour ago.
India and China need to "redouble efforts" to push forward negotiations for a "framework" for a solution to the border question, said a Chinese source.
While earlier China had not acknowledged intrusion by their troops into Indian territory on April 15 and even termed it "not true", the Chinese source said here Monday that the incursion by Chinese troops 19 km into India was an "isolated incident".
The border issue "needs time and the political will of both countries", the source added.
Visiting India ahead of the trip of Chinese Premier Li Keqiang, a senior Chinese official said said the manner in which the 20-day stand-of between troops of both countries had been solved, demonstrated the effectiveness of the mechanisms in place to solve such disputes.
The official said both sides, which have held 15 rounds of negotiations between their special representatives, should speed up talks in order to arrive at a "fair, reasonable and mutually acceptable solution at an early date". India and China should also continue to simultaneously improve relations in all spheres, he said.
Qin Gang, spokesperson and Director-General of Information Department in the Chinese Ministry of Foreign Affairs, said India and China while looking at the "important issue of boundary, will have to bear in mind the whole picture of our developing relations. And bear in mind the interest and benefits of good and cooperative China-India relations."
He also said Premier Li and Prime Minister Manmohan Singh are expected to issue a joint statement on the close bilateral ties, with emphasis on trade which stands at over $65 billion.
Chinese troops had intruded 19 km into the Indian side of the Line of Actual Control - the de facto border - on April 15 in the Depsang area of Ladakh and pitched tents. Indian troops had also moved their positions forward, leading to a stand-off which was resolved after three weeks.
The border issue was also raised by External Affairs Minister Salman Khurshid during his May 9-10 Beijing trip. He said later that both sides had agreed not to let the incident come in the way of growth in India-China ties. Reported by Deccan Herald 1 hour ago.
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BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflation
NEW YORK--(BUSINESS WIRE)--Investors are positioning themselves for slower growth in China and prolonged low inflation – sending commodities allocations to a four-year low, according to the BofA Merrill Lynch Fund Manager Survey for May. A quarter of the respondents to May’s survey say that a hard landing in China and a commodity collapse is their number one “tail risk”, an increase from 18 percent in April. A net 8 percent of fund managers in Japan, Asia-Pacific Rim and Global Emerging Markets
Reported by Business Wire 2 hours ago.
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China still safe for IT outsourcing, despite US security concerns, says vendor
China's reputation for security may have been marred by recent U.S. accusations of state-sponsored hacking but the nation is still a safe place as a tech subcontractor for foreign businesses, according to one of China's largest IT outsourcing vendors.
"We take security as a 'live or die' thing," said Jun Su, corporate executive vice president for Pactera Technology in an interview. "We are a public company. If we ever got exposed for leaking IP, we are dead."
Keeping a company's intellectual property secure in China has long been a challenge facing foreign businesses operating in a country known for piracy. But the concerns around security have heightened in recent months, as the U.S. has grown increasingly vocal about alleged Chinese cyber-espionage that has sought to steal sensitive data from the U.S. military and corporations.
Certain Chinese tech companies, most notably, Huawei Technologies and ZTE, two major providers of telecommunication gear, have been caught in the crossfire. Last October, a U.S. congressional committee accused the two companies of having links to the Chinese government, and advised that U.S. businesses looks elsewhere for their networking equipment purchases.
To read this article in full or to leave a comment, please click here Reported by PC World 2 hours ago.
"We take security as a 'live or die' thing," said Jun Su, corporate executive vice president for Pactera Technology in an interview. "We are a public company. If we ever got exposed for leaking IP, we are dead."
Keeping a company's intellectual property secure in China has long been a challenge facing foreign businesses operating in a country known for piracy. But the concerns around security have heightened in recent months, as the U.S. has grown increasingly vocal about alleged Chinese cyber-espionage that has sought to steal sensitive data from the U.S. military and corporations.
Certain Chinese tech companies, most notably, Huawei Technologies and ZTE, two major providers of telecommunication gear, have been caught in the crossfire. Last October, a U.S. congressional committee accused the two companies of having links to the Chinese government, and advised that U.S. businesses looks elsewhere for their networking equipment purchases.
To read this article in full or to leave a comment, please click here Reported by PC World 2 hours ago.
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BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflat
Filed under: Investing
*BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflation*
Allocators Scale Back in Commodities and Emerging Market Stocks
NEW YORK--(BUSINESS WIRE)-- Investors are positioning themselves for slower growth in China and prolonged low inflation - sending commodities allocations to a four-year low, according to the BofA Merrill Lynch Fund Manager Survey for May.
A quarter of the respondents to May's survey say that a hard landing in China and a commodity collapse is their number one "tail risk", an increase from 18 percent in April. A net 8 percent of fund managers in Japan, Asia-Pacific Rim and Global Emerging Markets expect China's economy to weaken over the next 12 months, compared with a net 9 percent saying it would strengthen a month ago.
Panelists are sending strong signals that they see little threat of inflation. A net 30 percent expect global core inflation to rise over the coming year - down from a net 45 percent last month. Accordingly, the proportion of investors expecting short-term interest rates to rise has fallen to a net 14 percent from a net 32 percent in April.
Investors have responded by reducing allocations to commodities and emerging markets and upping allocations to bonds. A net 29 percent of global asset allocators are underweight commodities - an increase from a net 11 percent in March and the lowest reading since December 2008. A net 17 percent of asset allocators remain underweight energy stocks. The proportion of global investors overweight emerging market equities has plummeted to a net 3 percent from a net 34 percent in March. A net 38 percent of the panel is underweight bonds, down from a net 50 percent in April.
"May's Fund Manager Survey demonstrates a clear exit from China and assets connected to China - in the shape of commodities and emerging market equities. But it's worth noting that investors are keeping faith in global growth," said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Global Research. "We see signs that Europe is the region investors are watching. They are increasingly aware of cheap valuations in European stocks, and concerns over sovereign risk in the region are dissipating," said John Bilton, European investment strategist.
*Signs of hope in eurozone equities*
Fledgling signs of optimism towards Europe are emerging in May's global and regional surveys - although investors within the region also would like to see more policy action. Global investors are starting to see the eurozone as less of a problem and more of an opportunity. The percentage of the panel naming EU sovereigns and banks as number one "tail risk" has dropped to 29 percent from 42 percent.
A net 38 percent of the global panel takes the view that eurozone equities are undervalued - a significant increase from a net 23 percent in April. With more investors viewing the U.S. as overvalued, the "valuation gap" between the U.S. and the eurozone has widened even further in the past month.
European respondents to the regional survey are more positive about growth than a month ago. A net 24 percent of European fund managers believe Europe's economy will strengthen in the coming year, up from a net 19 percent in April. A net 17 percent see earnings improving in the next 12 months, up from a net 14 percent. At the same time, a net 31 percent of regional investors say that fiscal policy is too restrictive, up from a net 19 percent last month.
*Japan equities allocation reaches six-year high*
Belief in the bull run in Japanese equities remains strong. Allocations to Japanese equities are at their highest since May 2006 with a net 31 percent of global asset allocators overweight Japanese equities. That is up sharply from a net 20 percent overweight in April.
A net 44 percent of global investors say that the outlook for corporate profits is more favorable in Japan than in any other region - the most bullish outlook captured by the survey since November 2005. Japan also remains the region that investors would most like to overweight over 12 months. A net 25 percent say Japan is at the top of their overweight list, in line with April's reading.
*Time to pay out or invest, say investors*
With the prospect of corporate profits rising, investors are pressing the case for companies to pay out some cash. A net 27 percent of the global panel says that payout ratios (including share buybacks and dividends) are too low, a rise of six percentage points month-on-month. A 38 percent say that their preferred use of cash flow would be to return cash to shareholders via buybacks, dividends or acquisitions, up from a 34 percent in April. A 47 percent would like companies to increase capital spending, up 1 percent month-on-month, while only 9 percent are prioritizing debt repayment.
Survey of Fund Managers
An overall total of 231 panelists with US$661 billion of assets under management participated in the survey from 3 May to 9 May. A total of 177 managers, managing US$517 billion, participated in the global survey. A total of 109 managers, managing US$248 billion, participated in the regional surveys. The survey was conducted by BofA Merrill Lynch Research with the help of market research company TNS. Through its international network in more than 50 countries, TNS provides market information services in over 80 countries to national and multi-national organizations. It is ranked as the fourth-largest market information group in the world.
BofA Merrill Lynch Global Research
The BofA Merrill Lynch Global Research franchise covers nearly 3,500 stocks and 1,100 credits globally and ranks in the top tier in many external surveys. Most recently, the group was named Top Global Research Firm of 2012 by Institutional Investor magazine; No. 1 in the 2012 Institutional Investor All-Asia survey for the second consecutive year; No. 2 in the 2013 Institutional Investor All-Japan survey for the second consecutive year and No. 2 in the 2012 All-China, All-Europe and All-Latin America surveys; and No. 3 in the 2012 Institutional Investor All-America survey. The group was also named No. 2 in the 2012 Institutional Investor All-America Fixed Income survey and in the 2012 Emerging Markets Equity and Fixed Income survey, covering Emerging Europe, Middle East and Africa; and No. 3 in the 2013 All-Europe Fixed Income Research survey.
Additionally, BofA Merrill Lynch Global Research was named the No. 1 Global Broker by Financial Times/StarMine, as well as ranked No. 1 in the U.S. and Europe and No. 2 in Asia. The group was also named No. 1 in Asia and No. 2 in the U.S. in the Wall Street Journal Best on the Street 2012 Analysts Surveys. The group was also the winner of the Emerging Markets magazine's EM Research Global Award for 2010 and 2011.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 52 million consumer and small business relationships with approximately 5,400 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYS: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Visit the Bank of America newsroom for more Bank of America news.
*www.bankofamerica.com*
Reporters May Contact:
Rinat Rond, Bank of America, 1.646.855.3152
rinat.rond@bankofamerica.com
Tomos Rhys Edwards, Bank of America, +44.20.7995.2763
tomos.edwards@baml.com
*KEYWORDS:* United States North America New York
*INDUSTRY KEYWORDS:*
The article BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflation Reported by DailyFinance 2 hours ago.
*BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflation*
Allocators Scale Back in Commodities and Emerging Market Stocks
NEW YORK--(BUSINESS WIRE)-- Investors are positioning themselves for slower growth in China and prolonged low inflation - sending commodities allocations to a four-year low, according to the BofA Merrill Lynch Fund Manager Survey for May.
A quarter of the respondents to May's survey say that a hard landing in China and a commodity collapse is their number one "tail risk", an increase from 18 percent in April. A net 8 percent of fund managers in Japan, Asia-Pacific Rim and Global Emerging Markets expect China's economy to weaken over the next 12 months, compared with a net 9 percent saying it would strengthen a month ago.
Panelists are sending strong signals that they see little threat of inflation. A net 30 percent expect global core inflation to rise over the coming year - down from a net 45 percent last month. Accordingly, the proportion of investors expecting short-term interest rates to rise has fallen to a net 14 percent from a net 32 percent in April.
Investors have responded by reducing allocations to commodities and emerging markets and upping allocations to bonds. A net 29 percent of global asset allocators are underweight commodities - an increase from a net 11 percent in March and the lowest reading since December 2008. A net 17 percent of asset allocators remain underweight energy stocks. The proportion of global investors overweight emerging market equities has plummeted to a net 3 percent from a net 34 percent in March. A net 38 percent of the panel is underweight bonds, down from a net 50 percent in April.
"May's Fund Manager Survey demonstrates a clear exit from China and assets connected to China - in the shape of commodities and emerging market equities. But it's worth noting that investors are keeping faith in global growth," said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Global Research. "We see signs that Europe is the region investors are watching. They are increasingly aware of cheap valuations in European stocks, and concerns over sovereign risk in the region are dissipating," said John Bilton, European investment strategist.
*Signs of hope in eurozone equities*
Fledgling signs of optimism towards Europe are emerging in May's global and regional surveys - although investors within the region also would like to see more policy action. Global investors are starting to see the eurozone as less of a problem and more of an opportunity. The percentage of the panel naming EU sovereigns and banks as number one "tail risk" has dropped to 29 percent from 42 percent.
A net 38 percent of the global panel takes the view that eurozone equities are undervalued - a significant increase from a net 23 percent in April. With more investors viewing the U.S. as overvalued, the "valuation gap" between the U.S. and the eurozone has widened even further in the past month.
European respondents to the regional survey are more positive about growth than a month ago. A net 24 percent of European fund managers believe Europe's economy will strengthen in the coming year, up from a net 19 percent in April. A net 17 percent see earnings improving in the next 12 months, up from a net 14 percent. At the same time, a net 31 percent of regional investors say that fiscal policy is too restrictive, up from a net 19 percent last month.
*Japan equities allocation reaches six-year high*
Belief in the bull run in Japanese equities remains strong. Allocations to Japanese equities are at their highest since May 2006 with a net 31 percent of global asset allocators overweight Japanese equities. That is up sharply from a net 20 percent overweight in April.
A net 44 percent of global investors say that the outlook for corporate profits is more favorable in Japan than in any other region - the most bullish outlook captured by the survey since November 2005. Japan also remains the region that investors would most like to overweight over 12 months. A net 25 percent say Japan is at the top of their overweight list, in line with April's reading.
*Time to pay out or invest, say investors*
With the prospect of corporate profits rising, investors are pressing the case for companies to pay out some cash. A net 27 percent of the global panel says that payout ratios (including share buybacks and dividends) are too low, a rise of six percentage points month-on-month. A 38 percent say that their preferred use of cash flow would be to return cash to shareholders via buybacks, dividends or acquisitions, up from a 34 percent in April. A 47 percent would like companies to increase capital spending, up 1 percent month-on-month, while only 9 percent are prioritizing debt repayment.
Survey of Fund Managers
An overall total of 231 panelists with US$661 billion of assets under management participated in the survey from 3 May to 9 May. A total of 177 managers, managing US$517 billion, participated in the global survey. A total of 109 managers, managing US$248 billion, participated in the regional surveys. The survey was conducted by BofA Merrill Lynch Research with the help of market research company TNS. Through its international network in more than 50 countries, TNS provides market information services in over 80 countries to national and multi-national organizations. It is ranked as the fourth-largest market information group in the world.
BofA Merrill Lynch Global Research
The BofA Merrill Lynch Global Research franchise covers nearly 3,500 stocks and 1,100 credits globally and ranks in the top tier in many external surveys. Most recently, the group was named Top Global Research Firm of 2012 by Institutional Investor magazine; No. 1 in the 2012 Institutional Investor All-Asia survey for the second consecutive year; No. 2 in the 2013 Institutional Investor All-Japan survey for the second consecutive year and No. 2 in the 2012 All-China, All-Europe and All-Latin America surveys; and No. 3 in the 2012 Institutional Investor All-America survey. The group was also named No. 2 in the 2012 Institutional Investor All-America Fixed Income survey and in the 2012 Emerging Markets Equity and Fixed Income survey, covering Emerging Europe, Middle East and Africa; and No. 3 in the 2013 All-Europe Fixed Income Research survey.
Additionally, BofA Merrill Lynch Global Research was named the No. 1 Global Broker by Financial Times/StarMine, as well as ranked No. 1 in the U.S. and Europe and No. 2 in Asia. The group was also named No. 1 in Asia and No. 2 in the U.S. in the Wall Street Journal Best on the Street 2012 Analysts Surveys. The group was also the winner of the Emerging Markets magazine's EM Research Global Award for 2010 and 2011.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 52 million consumer and small business relationships with approximately 5,400 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYS: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Visit the Bank of America newsroom for more Bank of America news.
*www.bankofamerica.com*
Reporters May Contact:
Rinat Rond, Bank of America, 1.646.855.3152
rinat.rond@bankofamerica.com
Tomos Rhys Edwards, Bank of America, +44.20.7995.2763
tomos.edwards@baml.com
*KEYWORDS:* United States North America New York
*INDUSTRY KEYWORDS:*
The article BofA Merrill Lynch Fund Manager Survey Finds Investors Positioning For China Slowdown and Low Inflation Reported by DailyFinance 2 hours ago.
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CHINA: China's latest food scandal
A month after 10,000 dead pigs were found floating in a river near Shanghai, 900 people were arrested for selling rat, fox and mink meat as lamb. These, just the latest of a string of food scandals in China, are adding to concerns about the country's food supply chain. Some Chinese are starting to take matters into their own hands, and there are solutions out there for every budget.
Reported by France 24 1 hour ago.
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Competition pits China's Z-Park vs. Silicon Valley
Chinese and Silicon Valley startups were invited on Monday to compete for prizes and the chance to appear at demo conferences in Beijing. It is part of an effort by Zhongguancun Science Park in Beijing, which bills itself as the "Silicon Valley of China" and is also known as Z-Park, to raise its profile in the startup community outside of its home country. The competition is organized by Z-Park, Entrepreneur China Magazine and the China-U.S. incubator in San Jose known as Hanhai Z-Park. "We are…
Reported by bizjournals 1 hour ago.
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Xi Jinping's Communist Dream For China
TAIPEI (The China Post/ANN) -- The title of a book by the late American sinologist Benjamin I. Schwartz, "In Search of Wealth and Power," rather accurately sums up the preoccupation of generations of Chinese intellectuals, reformers and revolutionaries in modern times. These men and women, with varying degree of success, sought to stem the tide of imperialist encroachment on China in its struggle for survival in the modern world, principally by unlocking the secret to "wealth and power." A wealthy and strong China, one that is not in danger of being partitioned by the colonial powers, was their dream, one might say.
Chinese President and Communist Party of China General Secretary Xi Jinping also has a dream, one that he elaborated on in a speech titled "The China Dream, The People's Dream," which he delivered March 17 at the Second Plenary Session of the National People's Congress.
"To achieve a comprehensively well-off society, to build a prosperous, strong, democratic, civilized, and harmonious modern socialist country and to attain the Chinese dream of the great renaissance of the Chinese nation is to achieve prosperity, revitalize the nation, and bring about the happiness of the people," Xi said in the speech.
But before that, on Nov. 29, 2012, two weeks after his appointment as the party's general secretary and military commander-in-chief, Xi visited the grandiose National Museum next to Tiananmen Square. During the trip he told reporters and museum workers that the "greatest Chinese dream" was the "great revival of the Chinese nation," according to a commentary in a recent issue of Britain's Economist magazine.
The commentary then elaborated on the symbolism of the setting in which Xi first gave voice to his slogan, concluding that the remarks against such a special backdrop made it clear that he was flexing his muscle as a nationalist and as a party believer.
In line with what previous generations of Chinese intellectuals, statesman, and revolutionaries had to say when the survival of their country, often referred to as the "sick man of the East," was at stake, these remarks could be understood as mere rhetoric intended to score points with Chinese at home and abroad. No threat, if any, was intended.
But now, with a well-equipped and at least numerically formidable army, more money to purchase the latest military hardware, and being on course to become the world's largest economy within decades, if not earlier, China under the leadership of Xi could really have dreams that resonate better with those of its people than such a "wealth and power" dream. In other words, Xi should have dreamed up a more ambitious dream than the so-called "American Dream" of middle-class material comfort for his people.
Now that the "wealth and power" dream is more or less fulfilled, another dream, also American, is recommended if Xi is to achieve greatness and not to remain a run of the mill leader who is more preoccupied with the interests of his kind than those of the common people.
About 50 years ago, in August 1963, Martin Luther King Jr. electrified America with his momentous "I Have a Dream" speech, dramatically delivered from the steps of the Lincoln Memorial.
The key message in the speech is that all people are created equal and that, although not the case in America at the time, King felt this truth must be the basis for American racial relations in the future. And that was his dream, one that has more or less come true in America, if not elsewhere.
But instead of dwelling on a universal value, Xi's main focus seems to be on strengthening the party's absolute claim to power, according to the Economist commentary. Xi has made it clear that he believes the Soviet Union collapsed because the Communist Party there strayed from ideological orthodoxy and rigid discipline.
"The Chinese dream," Xi was quoted as saying, "is an ideal. Communists should have a higher ideal, and that is communism."
It appears that Xi also sets his sights on greatness, though greatness of a different kind than that of Martin Luther King Jr., because unlike King, Xi is a communist.
If so, we must then ask what steps he is prepared to take toward achieving some of the communist ideals, such as "from each according to his ability and to each according to his needs" and proletarian dictatorship, instead of dictatorship by the rich and powerful, now that the party is fast becoming the Bourgeois, if not Capitalist, Party of China.
Mr. Xi, what say you begin by bringing into the political bureau some of the "have-nots?" ___
(c)2013 the Asia News Network (Hamburg, Germany)
Visit the Asia News Network (Hamburg, Germany) at www.asianewsnet.net/home/
Distributed by MCT Information Services Reported by Huffington Post 1 hour ago.
Chinese President and Communist Party of China General Secretary Xi Jinping also has a dream, one that he elaborated on in a speech titled "The China Dream, The People's Dream," which he delivered March 17 at the Second Plenary Session of the National People's Congress.
"To achieve a comprehensively well-off society, to build a prosperous, strong, democratic, civilized, and harmonious modern socialist country and to attain the Chinese dream of the great renaissance of the Chinese nation is to achieve prosperity, revitalize the nation, and bring about the happiness of the people," Xi said in the speech.
But before that, on Nov. 29, 2012, two weeks after his appointment as the party's general secretary and military commander-in-chief, Xi visited the grandiose National Museum next to Tiananmen Square. During the trip he told reporters and museum workers that the "greatest Chinese dream" was the "great revival of the Chinese nation," according to a commentary in a recent issue of Britain's Economist magazine.
The commentary then elaborated on the symbolism of the setting in which Xi first gave voice to his slogan, concluding that the remarks against such a special backdrop made it clear that he was flexing his muscle as a nationalist and as a party believer.
In line with what previous generations of Chinese intellectuals, statesman, and revolutionaries had to say when the survival of their country, often referred to as the "sick man of the East," was at stake, these remarks could be understood as mere rhetoric intended to score points with Chinese at home and abroad. No threat, if any, was intended.
But now, with a well-equipped and at least numerically formidable army, more money to purchase the latest military hardware, and being on course to become the world's largest economy within decades, if not earlier, China under the leadership of Xi could really have dreams that resonate better with those of its people than such a "wealth and power" dream. In other words, Xi should have dreamed up a more ambitious dream than the so-called "American Dream" of middle-class material comfort for his people.
Now that the "wealth and power" dream is more or less fulfilled, another dream, also American, is recommended if Xi is to achieve greatness and not to remain a run of the mill leader who is more preoccupied with the interests of his kind than those of the common people.
About 50 years ago, in August 1963, Martin Luther King Jr. electrified America with his momentous "I Have a Dream" speech, dramatically delivered from the steps of the Lincoln Memorial.
The key message in the speech is that all people are created equal and that, although not the case in America at the time, King felt this truth must be the basis for American racial relations in the future. And that was his dream, one that has more or less come true in America, if not elsewhere.
But instead of dwelling on a universal value, Xi's main focus seems to be on strengthening the party's absolute claim to power, according to the Economist commentary. Xi has made it clear that he believes the Soviet Union collapsed because the Communist Party there strayed from ideological orthodoxy and rigid discipline.
"The Chinese dream," Xi was quoted as saying, "is an ideal. Communists should have a higher ideal, and that is communism."
It appears that Xi also sets his sights on greatness, though greatness of a different kind than that of Martin Luther King Jr., because unlike King, Xi is a communist.
If so, we must then ask what steps he is prepared to take toward achieving some of the communist ideals, such as "from each according to his ability and to each according to his needs" and proletarian dictatorship, instead of dictatorship by the rich and powerful, now that the party is fast becoming the Bourgeois, if not Capitalist, Party of China.
Mr. Xi, what say you begin by bringing into the political bureau some of the "have-nots?" ___
(c)2013 the Asia News Network (Hamburg, Germany)
Visit the Asia News Network (Hamburg, Germany) at www.asianewsnet.net/home/
Distributed by MCT Information Services Reported by Huffington Post 1 hour ago.
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China Denounces Japanese Mayor's Sex Slave Comment
China has expressed outrage over remarks by an outspoken Japanese mayor who said his country's forced prostitution of Asian women during World War II was "necessary," while the Japanese government distanced itself from the comments. Chinese Foreign Ministry spokesman Hong Lei said Tuesday the forced recruitment of so called "comfort women was a serious crime of Japanese militarism." He said China expressed "shock and strong indignation toward Japanese politicians ...
Reported by VOA News 39 minutes ago.
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China Natural Gas, Inc. to Release First Quarter 2013 Financial Results on May 15
NEW YORK, May 14, 2013 /PRNewswire/ -- China Natural Gas, Inc. (PK: CHNG), a leading provider of compressed natural gas for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, today announced that it plans to release first quarter 2013...
Reported by PR Newswire 31 minutes ago.
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China questions Japan rule over Okinawa
BEIJING (AP) - China is trying to strengthen its claim on tiny, uninhabited, Japanese-controlled islands by raising questions about the much larger Okinawa chain that is home to more than a million Japanese along with major U.S.
Reported by MyNorthwest.com 7 hours ago.
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That sighing sound you hear from China
… is strategists everywhere cutting their GDP forecasts.
Last week Standard Chartered’s China economist Stephen Green and his team slashed their 2013 forecast to 7.7 per cent from 8.3 per cent. Their 2014 forecast was cut to 7.5 per cent from 8.2 per cent.
Today, BAML’s Ting Lu cut to 7.6 for both 2013 and 2014, from 8 per cent and 7.7 per cent, respectively.
Continue reading: That sighing sound you hear from China Reported by FT.com 7 hours ago.
Last week Standard Chartered’s China economist Stephen Green and his team slashed their 2013 forecast to 7.7 per cent from 8.3 per cent. Their 2014 forecast was cut to 7.5 per cent from 8.2 per cent.
Today, BAML’s Ting Lu cut to 7.6 for both 2013 and 2014, from 8 per cent and 7.7 per cent, respectively.
Continue reading: That sighing sound you hear from China Reported by FT.com 7 hours ago.
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China’s central bank ‘looking into’ Bloomberg News scandal
China’s central bank, which manages the world’s largest foreign exchange reserves, is looking into a growing scandal over the access journalists at Bloomberg News had to potentially sensitive data, reports said Wednesday. The People’s Bank of China (PBoC) is the latest major financial organisation to examine the controversy involving the financial news wire, whose terminals are used by officials at many of the world’s most important financial institutions and banks. Bloomberg announced Friday it was [...]
Reported by Raw Story 6 hours ago.
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China Pharma Holdings, Inc. Reports First Quarter 2013 Financial Results
HAIKOU CITY, China, May 15, 2013 /PRNewswire/ -- China Pharma Holdings, Inc. (NYSE MKT: CPHI) ("China Pharma" or the "Company"), an NYSE MKT listed corporation with its fully-integrated specialty ...
Reported by FinanzNachrichten.de 6 hours ago.
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China Xiniya Fashion Limited Announces Conference Call Date to Discuss First Quarter 2013 Financial Results
XIAMEN, China, May 15, 2013 /PRNewswire/-- China Xiniya Fashion Limited ("Xiniya" or the "Company" NYSE: XNY), a leading provider of men's business casual apparel inChina, today announced that it ...
Reported by FinanzNachrichten.de 6 hours ago.
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Sinovac Appoints Ernst & Young Hua Ming Llp China as External Auditor
BEIJING, May 15, 2013 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, has appointed China-based Ernst & Young Hua Ming LLP as its reg...
Reported by FinanzNachrichten.de 6 hours ago.
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Sinovac Names Ernst & Young Hua Ming Llp China as External Auditor
Sinovac Biotech (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, has appointed China-based Ernst & Young Hua Ming LLP as its registered independent public accounting firm effective from May 14, 2013 to replace Ernst & Young LLP Canada.
On May 14, 2013, Ernst & Young LLP Canada notified the Company that it would no Reported by Benzinga.com 5 hours ago.
On May 14, 2013, Ernst & Young LLP Canada notified the Company that it would no Reported by Benzinga.com 5 hours ago.
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China Housing & Land Development Inc. Announces First Quarter 2013 Financial Results
XI'AN, China, May 15, 2013 /PRNewswire/-- China Housing & Land Development, Inc. ("China Housing" or the "Company"; Nasdaq: CHLN) today announced its financial results for the quarter ended March ...
Reported by FinanzNachrichten.de 5 hours ago.
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ASIA OOH: Mobile Internet Seizes Bridgehead for China's Online Market
GUANGZHOU, China, May 15, 2013 /PRNewswire/ -- ASIA OOH recently conducted a survey of mobile surfing behaviors of people on the go in four cities in China: Beijing, Shanghai, Guangzhou, and Nanjing. The findings show that Chinese consumers own significantly more smartphones and...
Reported by PR Newswire 4 hours ago.
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India, China must make Asia engine of world economy, says Li Keqiang
Ahead of his visit to New Delhi, China's new Premier Li Keqiang today said India and China "must shake hands" to make Asia an "engine of the world economy".
Reported by Firstpost 4 hours ago.
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