In The News

Made in China: Wal-Mart Unions

Anita Chan October 12, 2006
Global labor leaders had long considered China’s unions as an arm of the government and not worthy of much respect. But that was before All-China Federation of Trade Unions (ACFTU) took on Wal-Mart managers in China and quickly set up union branches at more than 20 stores. The move – requiring grassroots organization that’s not been seen in China for more than 50 years – could signal more...

N. Korea Links Next Move to U.S. Policy

Choe Sang-Hun October 11, 2006
While Western governments wonder whether the weak blast was indeed what North Korea claimed to be a nuclear test, Pyongyang has issued threat of further testing. In an interview, Kim Yong Nam, president of the North Korea's legislature, has warned that future testing is contingent upon the attitude of the US. If the US were to impose global sanctions, he claims "we will have no choice...

North Korea’s Nuclear Gamble

Shim Jae Hoon October 10, 2006
A nuclear test by North Korea has plunged East Asia in a new crisis and brought worldwide condemnation, the strongest being from Japan. Japanese Prime Minister Shinzo Abe supports drafting a resolution calling for tougher sanctions under Chapter 7 of the UN Charter, which authorizes the use of military force should North Korea disregard the UN. Although highly critical of North Korea, China,...

Family Tree of Chinese Sage Branches Out to Include Women

Jonathan Watts October 9, 2006
The Chinese philosopher Confucius lived more than 2500 years ago, and his teachings about how to live a life of purpose still resonate today. As a code of ethics, Confucianism emphasizes peaceful relationships and benevolent dictatorships through hierarchy, requiring women to obey men, the young to obey old, and subjects to obey rulers. China’s government is promoting Confucius values –...

The New Titans

October 4, 2006
Emerging economies drive global economic growth and thus influence global economic factors including average wages, inflation as well as population growth and migration. For example, emerging economies account for most of the growth in energy consumption and hold almost three quarters of foreign-exchange reserves. With China, India and former Soviet Union nations joining the world economy, the...

The World Bank's China Delusions

Weijan Shan September 29, 2006
The World Bank has suggested that substantial earnings by China firms, not debt, have fueled the nation’s growth. But that assumption could be wrong, argues a private-equity analyst, who examined the same data from the National Bureau of Statistics. Reported profits in China often include government subsides and are released before payment of income taxes, a rate of about 30 percent in the...

Be Careful What You Wish For

September 28, 2006
A global economy closely binds the prosperity of the US and China, points out Henry Paulson, US treasury secretary. The US has been among the loudest clamoring for China to increase the value of its currency – but appreciation in the yuan may not necessarily ease US economic woes. China’s competitive advantage is not linked to currency differences alone, but also labor costs as well. A rising...