In The News

Global Bond Rout Deepens on US Fiscal Worries

Ambrose Evans-Pritchard December 10, 2010
The price of borrowing is climbing for the US as investors like China and Russia unload holdings of US treasury bills. The US has massive debt, representing about 10 percent of its GDP, and struggles for fiscal responsibility in a range of government programs, including health-care and retirement for senior citizens. Meanwhile the US president and Congress contemplate renewing across-the-board...

Chinese Workers Build MLK Memorial: Investigation

Annys Shin December 7, 2010
It’s an old debate: Should planners of symbolic projects rely on local workers or stretch funds by hiring immigrant labor? The latest project under scrutiny is construction of the Martin Luther King Jr. National Memorial in Washington, DC. Debt crisis in Greece delayed granite delivery, and critics slammed the Chinese sculptor’s original design. The foundation organizing the $120 million project...

Asking China to Act Like the US

Helene Cooper December 6, 2010
US leaders show little understanding as to why China balks at acting against its own national interests on democracy, currency, trade surpluses, climate change and many other issues, notes Helene Cooper for the New York Times. Complete acquiescence from China on US policies would serve American interests, not necessarily China’s or the world’s. Cooper focuses on the two nations’ responses to...

Nations That Debate Coal Use Export It to Feed China’s Need

Elisabeth Rosenthal December 3, 2010
Pollution from burning coal has no borders. Yet wealthy developed nations that limit construction of coal-fired plants within their borders do not hesitate to ship loads of coal to China and other nations in Asia, reports Elisabeth Rosenthal for the New York Times. The article lists numerous trade deals, and China now uses about half of the coal burned globally, or 3 billion tons. The rush to...

West’s Billions in Subsidy Shut Out African Cotton Growers

Martin Hickman November 30, 2010
Large subsidies for domestic cotton production in Western countries hurt African farmers trying to sell cotton and escape poverty. The United States and the European Union have given more than $32 billion over the past decade to support their farmers, with the EU subsidies more per pound than the crop’s market price. China, the world’s largest producer, spent $15.4 billion on subsidies since...

UK to Relax Immigration Rules for the Rich

James Boxell November 25, 2010
The rich are different, as noted by more than one literary figure. To assist a struggling economy and keep pace with Canada, the US and other nations, Great Britain will relax some immigration rules to entice wealthy families and entrepreneurs from emerging economies like China, India and the Middle East, reports the Financial Times. The price for fast-track permits is £10 million, reducing the...

China Can Use More Copper Than World Has Now With Yang’s Stove

Fan Wenxin November 18, 2010
As China industrializes, millions move from the countryside into urban centers. The trend that began along the coast now expands cities in the interior as Chinese exporters continue a search for inexpensive labor. Urbanization and growth spur China’s standard of living with new apartments and the amenities of modern life – TVs, air conditioners, washing machines. This Bloomberg article details...