Technology group’s decision to appoint Sean Maloney as chairman of its China operations mirrors moves by other multinationals to put more focus on the country
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Intel joins Beijing push with executive move
Technorati Is China the Next Big Wall Street Scam ? Technorati With more and more Wall Street stock analysis becoming warier by the day, trying to determine where the next big scam is coming from. Some of them think it just might be the Chinese companies that are listed on US stock exchanges. … and more
Equity futures are down sharply in Asia, Australia, Europe, and the US in conjunction with data that shows manufacturing in China is barely above contraction, with exports in contraction. In addition, the Euro is down over 2 cents vs. the US dollar and at a record low vs. the Swiss Franc following weekend elections in Spain and Germany that add to growing doubts about Spain’s ability to implement promised austerity programs. Asia-Pacific Equities European Equities Euro at Record Low …
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China Manufacturing Slows; Euro Drops on Spanish, German Elections; Swiss Franc at Record High vs. Euro; Asia, European Markets Hammered
An interesting post by Edward Harrison on the Credit Writedowns website suggests a Labour shortage could spell inflation and trade deficits for ChinaInformed researchers are asking what happens to China based on the recent demographic shift from rural labour surplus to rural labour deficit. The answer may be slower growth and higher inflation, according to a paper released last month by China’s Center for Economic Research at Peking University. But other impacts may also be increased consumption …
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Will China Have a Labor Shortage, Sending Inflation Out of Control?
Inquiring minds are digging deeper into China’s bank credit bubbles, fixed asset investment bubble, and property bubbles. Please consider Closer Look: 100 Trillion Yuan in Banking Assets on Caixin Online. As of 2010, the total assets of China’s banking industry have grown to 2.39 times the amount of national GDP, breaking records once again at nearly 100 trillion yuan. In comparison, according to OECD data, Japan’s banking assets in 2008 stood at US$ 9.81 trillion, 2.27 times the amount of its …
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China’s Real-Estate Developers Struggle with Debt; Servicing China’s Total Debt Load is Problematic; Dramatic Slowdown in China Coming
The US fast food restaurant group, has made a bid to acquire Little Sheep, the Chinese chain of hot pot restaurants, in a move deepen its presence in China
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Yum makes bid for China’s Little Sheep
The disclosure that China’s Alibaba had offloaded a fast-growing online payment unit sent Yahoo’s shares down depriving its CEO of a $10m payday
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Yahoo / Alibaba: it’s not alright Ma
A once booming US mine is being rebuilt to reduce China’s dominance of the rare earths market as US politicians seek to source these materials on their own soil
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Search for rare-earth self-sufficiency
Leather accessories brand wants to cultivate a global base of shareholders and customers and in China potential investors and man bag owners are often one and the same
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Coach eyes China men’s market
Wall Street Beat: China Tech IPOs Create US Buzz PCWorld (blog) The resignation came in the wake of a Citron research report last month about alleged fraud at the company where Palaschuk is chief financial officer, Longtop Financial Technologies. And despite the excitement over the IPO, RenRen has competition in … and more
BusinessWeek A Wall Street Scion's Expensive Education BusinessWeek Three months later, investors who had bet against China Agritech's stock attacked the firm as a scam with no real operations. Shares tumbled to $6.88 on Mar. 14, when trading was halted for failure to file financial data, from $15.87 on Nov. …
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A Wall Street Scion’s Expensive Education – BusinessWeek
As I have repeated numerous times, those looking for massive inflation can find it in China, not the United States. Demand for credit is so insane in China, that businesses will go to any length to get it. Courtesy of Michael Pettis at China Financial Markets, please check out the insane way some companies in China obtain credit. Via Email, Pettis writes … In this week’s newsletter I will argue that in spite of the rising wages, appreciating currency, and interest rate hikes we’ve seen in …
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Ponzi Financing Involving Copper Trade Gone Wild In China
The pricing of the IPO for China’s Facebook is a measure of the hysteria surrounding Chinese technology stocks as they have drifted into the ether
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Renren: China’s Facebook
In spite of all the hype regarding the Yuan as a reserve currency I have stated many times recently that discussion of the Yuan as a reserve currency is nothing but ridiculous hype. My reasons are: The Yuan does not float, and there is no indication China is prepared to allow the Yuan to float any time soonChina is a command economy In China, property rights and civil rights are questionable Chinese banks are insolvent because of malinvestments in infrastructure and an enormous property …
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Bogus Threats to US Reserve Currency Status: No Country Really Wants It!
Nokia Siemens Networks is set to complete its acquisition of Motorola’s network infrastructure business next week after China’s antitrust regulator approves the deal
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China clears sale of Motorola unit to NSN
Most of you know I loathe “It’s Different Here” type of arguments. However, in a recent newsletter, Michael Pettis of China Financial Markets makes precisely that case regarding interest rate hikes and the effect on the savings’ rate in China. Pettis writes …Not surprisingly, many analysts and journalists reported the interest-rate hike as a way of combating inflation by encouraging Chinese households to increase their savings and so reduce their consumption. As the New York …
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It’s Different in China and Here’s Why; Is the Yuan Undervalued?
Storm clouds are gathering over the global economy but few investors see them as bullish sentiment on equities and bearish sentiment on the US dollar mount. The European economy is hugely imbalanced yet the ECB is tightening, the property bubble in Australia has popped, cutbacks in state budgets will hit the US, and China Raises Reserve Ratios as Zhou Pledges More Tightening in order to combat inflation an rampant property speculation.China increased banks’ reserve requirements to lock up …
If China really put its enormous foreign currency reserves to work, it could buy Italy, 25bn barrels of oil, the ten largest US companies or the entire Nikkei 225
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China’s FX reserves
Madrid has been forced into a reversal after claims that Spain had secured up to €9bn in investment in its troubled savings banks from China were denied by Beijing
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Spain backtracks on China investment claim
The Rmb24.5bn joint venture with Shanghai government is part of a broader Disney strategy to develop retail and media businesses in China
In an unexpected move to curb soaring inflation China hiked interest rates for the 4th time since October. Premier Wen noted a threat to social stability and stated “Exorbitant” house price increases in some cities are a top public concern. Please consider China Raises Interest Rates to Counter Inflation Pressure China raised interest rates for the fourth time since the end of the global financial crisis to restrain inflation and limit the risk of asset bubbles in the fastest-growing major …
US publisher considers launches in China, and Latin America, tapping into the growing spending power of expanding middle classes
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Consumers Union eyes Chinese readership
In his latest Email review, Michael Pettis at China Financial Markets discusses financial reform (actually the lack thereof in China), as well as an observation on China’s Growth. Pettis writes …. Three months ago during their 2010 Q4 conference, the PBoC said that they believed that the global economic recovery would continue in 2011, although they acknowledged a great deal of uncertainty. The PBoC also said that stabilizing the price level was their top priority, and the central bank …
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Hidden Losses and Little Reform; China May Be Slowing More Than You Think
In February, I wrote about China MediaExpress Holdings Inc. (NASDAQ:CCME) and several fraud allegations that had surfaced via researchers at Muddy Waters and Citron Research. After looking at the allegations and the support (or lack thereof), my conclusion was that there was something wrong at the company. I wrote that even if some of the
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China MediaExpress Holdings: Critics and short sellers were right!
I have done many stories on China’s ghost cities. So have others. However, yet another ghost city story has come up recently that’s worth a good look. Please consider the Dateline SBS report on China’s Ghost Cities by Adrian BrownVast new cities of apartments and shops are being built across China at a rate of ten a year, but they remain almost completely uninhabited ghost towns. It’s all part of the government’s efforts to keep the economy booming, and there are many people who would love …
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World’s Biggest Property Bubble: China’s Ghost Cities Revisited; 64 Million Vacant Properties
(From PRWEB) — A new study by the Center for Work-Life Policy finds that the solution to China’s search for skilled talent is closer at hand than it may appear: highly qualified Chinese women. The study findings were announced today at an event at the new Intel Beijing office in the Beijing Global Trade Center with remarks by Edward Tse, Chairman for Greater China, Booz & Company, among others. Just as China is feeling the talent squeeze of rapid growth, Chinese women are emerging as a deeply qualified and ambitious talent pool, rivaling not only Chinese men but also their US counterparts. The study reveals the extent to which Chinese women are surpassing their peers, but also how they’re impacted by cultural traditions and demographic trends that are quite different from their female counterparts in other nations. Read more .
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The Battle for Female Talent in China: New Study from the Center for Work-Life Policy
Brazil, Russia, India and China and much of Europe suffered more downgrades to profit estimates than upgrades in the three months to February
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Earnings growth set to slow
Last month, I wrote a piece on China MediaExpress Holdings (NASDAQ: CCME) and the allegations of fraud by researchers at Citron Research and Muddy Waters. The story grew quickly with the reaction of the company and its supporters. China Media Express Holdings responded to the allegations with a letter posted on their website, but the
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More evidence of fraud at China MediaExpress Holdings
Food prices continue to soar in China and the overall prices are up 4.9% officially. Nonetheless, the Chinese central bank has ruled out currency appreciation and has also ruled up curtailment of credit. The New York Times has additional details in China’s February Inflation Held at 4.9 PercentChina’s February inflation stayed elevated on a double-digit rise in food prices, adding to pressure for communist leaders to cool surging living costs they worry could fuel unrest. February consumer …
The Financial Times published an interesting article a couple days on the concept of growing democracy in China. Despite a few anecdotes in the article, the idea of a large or growing democracy in China is unfounded given Chinese central authority trampling of human rights and property rights, on top of having the world’s largest central planning scheme. However, what most caught my eyes was the sheer amount of real estate malinvestment, given wages are grossly out of alignment with the …
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Bloodstained Property Map and Trampled Rights; China’s Population: 1.3 Billion; Construction Underway: 43 Billion Square Feet
Mattel says the bright pink, six-storey store has served its purpose of building brand awareness in China
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Barbie shuts up shop in Shanghai
Foxconn Technology will transform its south China manufacturing hub into an engineering base and move 200,000 jobs to cheaper inland provinces
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Foxconn to move China jobs inland
The internet company has outlived its usefulness to partners in both Japan and China, but it cannot tackle one relationship without tackling the other
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Yahoo: the third wheel
Morgan Stanley was among the targets of a sophisticated hacking campaign from China that penetrated more than 100 western businesses and was disclosed last year by Google
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M Stanley target of Chinese hackers
(From hrzone.co.uk) — According to a survey among 1,201 chief executives in 69 countries undertaken by management consultancy PricewaterhouseCoopers, emerging Asia-Pacific markets are being viewed by bosses in Western Europe as key to generating revenue growth in 2011, although the US is still the second most popular growth market behind China.
Growth in China’s manufacturing industry eased for a second consecutive month in February as activity slowed to a six month low in the face of tighter monetary policy and rising commodity prices
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China manufacturing growth eases
Inquiring minds are investigating Analysis of the Chinese Property Bubble by Huw McKay, Senior International Economist, for Westpac Bank.China: strong for now but imbalances loom The strength in China’s January trade data was absolutely remarkable. Going back to 2000, the level of unadjusted exports or imports in a January month has never exceeded the level in the immediately prior December: until now. There are deep-seated seasonal reasons why this just shouldn’t happen – and history had …
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Timing the China Property Crash
In Shanghai and Beijing, signs of political unrest are starting to brew. In response, China has clamped down on internet access, banning search words, even names of countries associated with unrest. For now, police have things under control with a huge display of force relative to the size of the protests. The key words are likely “for now”. The Washington Post reports Chinese police face down Middle East-style protestsPolice and security officials displayed a massive show of …
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China Cracks Down on Mid-East Style Protests With Water Canons; Police Blanket Shanghai, Beijing; Internet Search for "Egypt" and "Tunisia" Blocked
Chinese-owned automaker to open a new plant in China in 2013 as it announced its strategy for the world’s largest car market
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Volvo plans new China car plants
Saskatchewan officials head to the UK, US, China and India to reassure investors as the commodities boom reshapes the province’s economy
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Canadians woo investors after Potash saga
A couple of weeks ago I posted an article examining some of the allegations against China MediaExpress Holdings (NASDAQ:CCME) alleging that management was committing fraud on the investing public. I also discussed the company’s response, as well as the response of writers who are supporters of CCME. The allegations that concerned me most were: a.
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Update on fraud allegations at China MediaExpress Holdings
The US online coupon company has joined forces with China’s largest internet company to launch a group buying site in the country
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Groupon and Tencent team up for China site
China Watch: Sex Drug Crackdown, Can Sina Take on Twitter? Wall Street Journal (blog) A list of what the Wall Street Journal's reporters in China are reading and watching online, periodically updated throughout the day. (NOTE: WSJ has not verified items in the 'News' section and does not vouch for their accuracy. … and more
The latest numbers show inflation is soaring out of control in China. The CPI is up 4.9% year-over-year, up from 4.6% in December. The PPI clocked in at 6.6% compared with 5.9% last month. Things are even worse than they appear at first glance because China manipulated its CPI basket to reduce the impact of soaring food prices. Thus, China’s CPI numbers are not directly comparable to previous months. Please consider China’s Inflation Exceeds Target, Adding Rates Pressure China’s inflation …
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China CPI 4.9%, PPI 6.6%, Money Supply Up 53% in Two Years
US lawsuits against China companies face hurdles Reuters … problem: The Wall Street Journal reported in December that the agency has launched a “wide-scale investigation” focused on possible accounting fraud by … and more
Earlier this week, I posted an article about China MediaExpress Holdings (CCME) and the allegations of fraud that were leveled recently against the company. I took a look at some of the commentary out there, asked questions and made comments, and ultimately decided that I am concerned about the potential that the company is a
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Failing to find fraud when auditing cash
PetroChina has agreed to pay $5.4bn for a 50 per cent stake in a large natural gas field in owned by Encana, China’s largest investment in the Canadian energy sector
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PetroChina in $5.4bn Canada gas buy
Is China MediaExpress A Fraud? Part 1 Benzinga Sure looks like the SEC and Justice Department may be getting serious about insider trading on Wall Street , doesn't it? Why would you risk the wrath of the … and more
As noted in China’s “Borg Strategy” Seeks to Assimilate all Known Technology, China will stop at nothing to “assimilate and absorb” technology. China used those exact words in a lengthy document on procuring technology. China also uses the “Honeytrap” method, the “Lamprey” method, and the “Mushroom” method of acquiring technology. The “Honeytrap” method was featured in the James Bond film ‘Quantum of Solace’ with double agent …
As technology grows in its importance to business, companies are increasingly vulnerable to thefts by rivals – particularly from China
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Industrial espionage: Data out of the door