Tag Archives: China

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Dell Computer founder says the U.S. is no longer the land of opportunity. Go west young man, to China

“I would go to China at age 19 and start my company there. It’s a much better environment.”-Michael Dell

That’s what founder and CEO of Dell computers reportedly told PBS interviewer Charlie Rose, after being asked about doing things over.

Like Steve Jobs, Michael Dell is a college drop out, who went on to build a successful computer company.  Dell is the number two computer company in the U.S., Apple is third.

It’s not a good sign when the founder of the number two computer maker in the U.S. says the new generation of entrepreneurs should move to China.

 

 

 

 

Business/Economics, International, Technology, U.S.

Corporate & Government Incompetence: Fake parts found in U.S. military weapons! Blame China, Canada & Britain

“…just the tip of the iceberg.”-Carl Levin, U.S. Senator from Michigan

The Washington Post reporting that counterfeit parts have been found in weapons used by the U.S. military.

A Senate Armed Services Committee investigation found 1,800 cases of more than one million fake parts in U.S. weapon systems!

70% of the parts have been traced to Chinese factories.  20% came from Canada and United Kingdom.  Most of the parts are electronic: “We can’t tolerate the risk of a ballistic missile interceptor failing to hit its target, a helicopter pilot unable to fire his missiles or any other mission failure because of a counterfeit part.”-John McCain, U.S. Senator from Arizona

Here’s a solution: The U.S. military industrial complex should stop using supplies from outside the United States!!!

 

 

 

Business/Economics, International, U.S.

60% of Chinese millionaires want to leave China

A recent survey of Chinese millionaires found that 60% want to leave China.  14% have already left, or are in the bureaucratic process of leaving.

And where do Chinese millionaires want to go?  40% said they plan on moving to the United States.  Canada and Singapore are also top choices.

According to U.S. Citizenship and Immigration Services (USCIS), the number of Chinese applicants for ‘investment immigration’ has exceeded applications from any other country!

Investment immigration basically means you’re being allowed to immigrate into the U.S. because you’re investing your wealth into the U.S. (minimum $500,000 required).

What’s the main reason Chinese millionaires want to move to the United States?  They want better education for their children.  Hah, I hope they’re not disappointed, like so many U.S. parents.

The survey was conducted by Hurun Report and the Bank of China.

 

 

 

Business/Economics, International, U.S.

Corporate Incompetence: WalMart refuses to pay rent in China, since 2002, gets shut down for selling bad meat. Think your U.S. WalMart stores are bad?

WalMart is in trouble in China, because it hasn’t paid rent since 2002, and it lies about what it sells.

According to Chinese media, in 2002 WalMart signed a 15 year lease contract with the Wanguo Shopping Plaza in the northeastern coastal city of Dalian.  Problems occurred with the timely development of the property, and WalMart decided to move across the street.  The problem is that they signed a 15 year contract.

Wanguo Shopping Plaza has sued WalMart for back due rent.  Chinese courts have ruled that the lease contract is still binding.

WalMart had claimed that Wanguo Shopping Plaza lost its business license, and that the contract was terminated in 2007.  WalMart also claimed they paid about two years worth of rent.  The courts found that Wanguo Shopping Plaza never lost its license, there is no evidence the contract was terminated, and that WalMart paid a little more than one year of rent.

This is just the latest in bad things happening to WalMart in China.  In October, 13 Wal-Mart stores were shut down for 15 days for selling incorrectly labelled pork products.  WalMart had previously been penalized 21 times since 2006 for false advertising and selling expired food!

Business/Economics, International

Global Economic War: China to make business deals with Austria, avoid tariffs

In an effort to avoid the outrageously high tariffs that many European Union members have put on Chinese products, Chinese President Hu Jintao is in Austria hoping to make new trade deals.

Xinhua News said “The two countries should also expand their mutually beneficial economic and trade relations and make concerted efforts to fight trade protectionism and encourage mutual investment.”

Many EU countries have enforced high tariffs on Chinese products, some have even boycotted Chinese products all together.  Austria is one of a few EU countries still open to Chinese imports.

In fact, Austria’s President Heinz Fischer, said Austria will play an active role in seeking the EU’s recognition of China’s full market economy status.

Over the past 40 years, the China-Austria relations have developed continuously, with China becoming Austria’s biggest trading partner, outside Europe, in 2010.

It’s interesting that many EU members are enforcing high tariffs and trade embargoes on Chinese products, yet are hoping China will bail them out of their economic mess.


 

Business/Economics, International, U.S.

What Economic Recovery? U.S. officials say Asia is our only hope; then all is lost

“If we are going to move out of this recession, Asia is going to be part of that equation. Asia is where we are going to grow.”–Ernest Bower, Southeast Asia Program at the Center for Strategic and International Studies

Next week the 21 members of the Asia Pacific Economic Cooperation (APEC) will meet in Hawaii.  There U.S. officials are expected to bend over to make economic deals with Asia countries, that’s how desperate the situation is for the United States.

Ron Kirk, U.S. Trade Representative, said the main concern for the U.S. is resolving issues that affect U.S. exporters.

Last week the U.S. Congress approved a free trade deal with South Korea, however, the people of South Korea are against it and have been protesting ever since.  It’s obvious governments are not going to do what their people want.

If the United States is hoping that the countries of Asia, and the Pacific Rim, are going to pull us out of the ‘recession’ then all is lost:  Japan’s economy is a house of cards that’s already collapsed. China is focused on controlling inflation which is reducing consumer spending there. Vietnam, India, China, Japan and Philippines are facing off in what could turn into a war over oil rights in the South China Sea.  Australia’s main economic partner is China, and Australia is expanding its naval power in the hopes that the U.S. Navy will be forced out of the region due to economic hardship.  Japan and Russia are nudging closer to war over islands just north of Hokkaido.  And the U.S. has already lost it’s economic advantage in South America.


Business/Economics, International, Technology, U.S.

What Economic Recovery? SAAB sold to China, at a loss

SAAB has new Chinese owners.  The car maker was sold at a loss, after it filed for bankruptcy in September.  SAAB hasn’t made any cars in its factory in Sweden, since April!

SAAB was originally offloaded by GM to Dutch company Spyker (now Swedish Automotive).  Chinese distributor Pang Da Automobile Trade, and auto manufacturer Zhejiang Youngman Lotus Automobile will pay about U.S.$142 million for SAAB.

SAAB joins Volvo in becoming a Chinese owned company.  In 2010 Volvo was sold by Ford, also at a loss, to Chinese company called Geely.

SAAB sales in the U.S. suck, in September only 429 cars were sold.  So far for the year 2011 only 4,612 cars have been sold.  In 2003 SAAB sales in the U.S. were ten times that (40,000 cars)!

 

 

Business/Economics, International, U.S.

Global Economic War: What’s really going on with the possible China rescue deal for Europe? China pushing to be A Number 1, got burned bailing out U.S. banks

That’s right, it wasn’t just U.S. taxpayers and the U.S. central bank (Federal Reserve) that bailed out Corporate America’s big financial institutions in 2007/08.  China Investment Corporation played a part and lost.

So when it comes to bailing out European governments, China’s financial sector is willing but cautious: “The $3 trillion in reserves are the fruits of the hard work of the Chinese people.  We’re willing to work with those European countries in distress for a better solution.  But…we have to be accountable to the people.”-Jin Liqun, China Investment Corp

Both the U.S. media and the Chinese media are reporting that China wants nit picking details concerning any European bailout.  The Chinese think the European governments haven’t done enough when it comes to austerity measures.  They want to see more cuts, and more taxes imposed on the European people.

But there’s another reason China is taking its time with agreeing to any European bailout; they want to use the situation to bring China closer to being the A Number 1 economic and financial authority throughout the World: “It will also help China gain a greater say in the global financial system.”-Zhong Wei,  Financial Research Center at Beijing Normal University

In fact, today, October 28, China called on the G20 to become more united (under China?): “The opinions of emerging markets and developing countries should be taken seriously no matter when we talk on the reform of the international currency system, the global economic governance, or the price of commodities.  These countries’ presence and say should be increased.”–Cui Tiankai, Vice Foreign Minister of China

The next Group of 20 meeting is November 3-4 in the southern French city of Cannes.

 

International, U.S.

World War 3: U.S. Navy to establish new base in South Korea, China the target

“There is a growing resentment in the two Koreas, and also in Okinawa and Guam. Everywhere people are saying, ‘We have had enough of the US military occupation, it is time to close down the bases and time to find different ways for achieving security.'”-Christine Ahn, Korea Policy Institute

To remember the 2010 sinking of a South Korean ship, South Korea commemorated a new naval base.  It will be the United States who uses that new base.

Local Koreans are opposed to the base.  The base will be completed by 2015.  Analyst say it will increase tensions between the U.S. and China: “If this base is tied to the U.S. missile defense system, it might be part of the U.S. strategy to contain China. Beijing is concerned with the U.S. military getting closer to its territories.  This deal is going to foment a regional arms race, which pits Korea in between the U.S. and China.”- Christine Ahn, Korea Policy Institute

Who said Obama was a man of peace?

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? The truth is that Europe, not the U.S., is China’s biggest trading partner

As a matter of incompetence, or conspiracy, when the list of China’s top trading partners is presented, it shows the United States as the top dog.  But that’s misleading, because the European Union, as a whole, is not counted.

Instead, EU members are broken up into the individual member states.  If you look at the European Union as one trading unit, which it should be, then it’s Europe that is China’s number one trading partner.

Not only that, but the percent of trade between Europe and China has been going up.  This is more proof that China does not need the United States to be economically viable.

However, recently the Chinese General Administration of Customs announced a second straight month of decline in their trade surplus.  Lu Peijun, vice minister of the General Administration of Customs, said China’s trade conditions are deteriorating due to worldwide falls in demand, and rising domestic costs.