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Posts Tagged ‘China’

China’s inflation to accelerate as food costs rise

June 22, 2011 Comments off

smh

China’s top economic planning agency said inflation will accelerate this month, bolstering analysts’ forecasts for the rate to reach 6 percent, the highest level since July 2008.

“The overall level of prices remains high and inflation will remain elevated for some months although the overall situation is controllable,” the National Development and Reform Commission said on its website today.

China has raised interest rates four times since September, limited bank lending and boosted food supplies as rising prices threaten to fuel social unrest. The Shanghai Composite Index has fallen more than 13 per cent from this year’s April high on concern that tightening measures will drag down growth.

“Inflation is going to be stubbornly high in 2011 and it’s largely a food story,” said Tim Condon, head of Asia research at ING Groep NV in Singapore. Authorities may be reluctant to keep Read more…

Hong Kong declares scarlet fever outbreak

June 21, 2011 1 comment

physorg

Hong Kong has declared an outbreak of scarlet fever after it claimed the life of at least one child while infecting thousands of others in the city and elsewhere in China.

A seven-year-old Hong Kong girl died from the illness late last month while a five-year-old boy in the city died Tuesday morning from what said was a “very likely” a case of scarlet fever.

Hong Kong authorities have recorded 40 new cases in the past few days, pushing the total number to 459 so far this year, the highest annual total in the city and more than three times the figure for the whole of 2010.

The boy — who also had — developed a fever last Wednesday and was admitted to hospital on Sunday with symptoms of the illness.

His condition deteriorated rapidly and he died Tuesday morning, Thomas Tsang, controller of Hong Kong’s Centre for Health Protection, said.

Classes have been suspended at the boy’s kindergarten for a week, a first for Hong Kong following a scarlet fever death.

“The situation is rather serious at the moment,” Tsang said Tuesday.

“We are facing an because the that is causing scarlet fever is widely circulating in Read more…

Trades reveal China shift from dollar

June 21, 2011 Comments off

 ft.com

China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank.

China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three-quarters of the new inflow invested abroad in non-US dollar assets, the bank estimated.

“It certainly appears that China’s finally following through on its policy to diversify its foreign reserve holdings away from the US dollar,” said Stephen Green, the bank’s chief China economist.

For over six years, Beijing has continued to accumulate Read more…

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Nations to Spend $1 Trillion on Nukes, Group Says

June 20, 2011 Comments off

globalsecuritynewswire

The planet’s nine nuclear weapons states are anticipated in the next 10 years to expend $1 trillion on acquiring and updating their systems, a prominent nuclear disarmament organization said (see GSN, June 7).

The group Global Zero — whose goal is total nuclear disarmament no later than 2030 — calculated the nuclear weapons expenditure figures for China, France, India, Israel, North Korea, Pakistan, Russia, the United Kingdom and the United States, the Financial Times reported. The organization is seeking to bring attention to the high price countries pay for their nuclear arsenals in a time of increasing government budget restraints.

Nuclear costs among the nine nations this year are estimated at $100 billion, with similar annual numbers anticipated throughout the decade, according to Global Zero.

The organization determined that nuclear arsenal expenditures take up roughly 9 percent of the countries’ total military spending; that percentage is anticipated to increase as traditional defense programs are curtailed in a number of the nations. Nuclear weapons spending encompasses research, development, weapons assessments and acquisitions.

“Spending will increase because of decisions by both nations to upgrade and replace,” Global Zero founder Bruce Blair said. “Modernization is progressing at such a pace we are seeing more spending on nuclear weapons than at any time since the Cold War.”

The group is to convene a two-day forum in London this week with participants including Russian Federation Council international affairs committee Chairman Mikhail Margelov, ex-Indian defense chief Jaswant Singh, ex-CIA intelligence agent Valerie Plame and multiple senior Chinese officials.

Global Zero wants to see other nuclear nations besides the United States and Russia take part in formal discussions on nuclear arms control.

The two former Cold War rivals together hold 95 percent of the planet’s nuclear weapons. They recently implemented a bilateral treaty that requires both sides to reduce their deployed stockpiles of strategic warheads to 1,550. U.S. President Obama has said he would like to see negotiations with Moscow for a treaty on tactical weapons begin in 2012 (see GSN, June 2; James Blitz, Financial Times, June 19).

China raises flood alert to top level, 555,000 evacuated

June 17, 2011 Comments off

reuters

BEIJING (Reuters) – China has mobilized troops to help with flood relief and raised its disaster alert to the highest level after days of downpours forced the evacuation of more than half a million people in central and southern provinces.

More than 555,000 people had been evacuated in seven provinces and a municipality after rains in recently drought-stricken areas caused floods and mudslides in the Yangtze River basin, the official China Daily said.

State media said that as of Thursday evening, floods caused by the most recent four days of rain had Read more…

Iran launches home-made satellite into orbit

June 17, 2011 Comments off

telegraph

Iran has launched a satellite into earth orbit in a feat that is likely to raise concerns among those who fear Iran’s intentions and nuclear development program.

“Our glorious scientists successfully put Iran’s first image-collecting satellite into orbit,” the TV report said.

Iran has made a series of claims about advances in its ambitious space program in recent years, which has Western powers worried about the possibility of its military applications.

Last year, Iran announced it had successfully launched a rocket carrying a mouse, turtle and worms into space.

Iran’s space program has expressed a goal of putting a man in orbit within 10 years, despite the Read more…

China Blocks Web Searches in an Attempt to Halt Protests

June 16, 2011 Comments off

dailytech

China has blocked internet searches after riots and unrest struck its southern province of Guangdong, home to many impoverished migrant workers.  (Source: Wikimedia Commons)
Despite rampant censorship, the hacker collective Anonymous is yet to target the Chinese government as it did governments in the Middle East.

Anonymous remains silent on Chinese censorship

In China the long dreaded “Jasmine Revolution” might be starting to finally materialize.  Outraged and impoverished, migrant workers in Zengcheng, a city in the country’s sea-facing southern Guangdong province, have taken to the streets in protest, clashing with police.  The protests and riots began last week when police told two migrant workers to stop selling goods in the street, and then proceeded to knock down one of the migrants who was pregnant.  Video of the incident went viral and Read more…

Chinese riots enter third day

June 14, 2011 Comments off

guardian

Chinese riots enter third day

Chinese protesters reach a standoff with riot police in Guangzhou province. The clashes highlight the authorities’ struggle to control social frustrations. Photograph: Reuters

Rioters burned police and fire vehicles in a third day of unrest in southern China‘s manufacturing heartlands, witnesses have reported.

Hong Kong broadcasters reported that armed police fired teargas as they sought to disperse the crowd and detained at least a dozen demonstrators.

The clashes, which began on Friday after a fracas between security officers and a pregnant street vendor in Xintang, Guangdong province, highlight Chinese authorities’ struggle to control social frustrations. It is thought that most protesters were migrant workers like the vendor.

Last week hundreds of migrant workers clashed with police in Chaozhou, also in Guangdong, following a dispute over unpaid wages. In Lichuan, Hubei, as many as 2,000 protesters attacked government headquarters last Thursday after a local politician who had complained about Read more…

China, Russia ties on sound base

June 14, 2011 Comments off

chinadaily

Sino-Russian relations are usually wrapped in high-sounding rhetoric, but they are essentially very pragmatic. For China, Russia is a geopolitical “safe rear” and, in economic terms, a major resource base. For Russia, China is a huge market just across the border and a valuable geopolitical partner. The fundamentals of the relationship are solid and not likely to change in the short or medium term.

When President Hu Jintao visits Russia on Wednesday, he and Russian President Dmitry Medvedev will duly celebrate the 10th anniversary of the Treaty of Good-Neighborliness and Friendly Cooperation between the two countries. But the main expectation this time will be the finalization of the 30-year agreement, under which Russia will supply China with 68 billion cubic meters of gas annually over the next 30 years from 2015.

When finalized, the agreement will strengthen China’s energy security and diversify Russia’s gas exports. Until now, the principal issue between the two countries has been the price of Russian gas for China. Gazprom wanted it to be as close to the lucrative European Read more…

Locusts Invade Russia and China, Threatening Food Supply

June 13, 2011 Comments off

Millions of Locusts Invade Russia

June 9, 2011

MSNBC – Giant swarms of locusts are said to be threatening the food supply for nearly 20 million people in the region.

Locust Plague Ravages NW China

May 5, 2011

Xinhua – Large swarms of locusts have laid waste to vast tracts of Northwest China’s Xinjiang Uygur autonomous region, with authorities expecting the plague to worsen as the weather heats up.

The locust plague began in the pastureland of the Ili River Valley and Read more…