Tag Archives: China

Mongolia Law Signed To Welcome Foreign Investors After Boom Slows

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“Mongolia’s parliament approved a law that ended different rules for domestic and foreign non-state investors after the Mongolian tugrik fell 21% against the dollar this year and foreign direct investment slumped by 47%.  Mongolia’s mineral boom has slowed amid a protracted dispute with key investors, including Rio, and increasing calls for a greater share of revenue to go to its citizens. Building infrastructure will allow the landlocked country to export a greater volume of its abundant natural resources after low commodity prices hurt its $10 billion economy.  Mongolia’s central bank said it was in talks with the People’s Bank of China to double the currency swap agreement between the nations.”

http://www.bloomberg.com/news/2013-10-27/mongolia-premier-welcomes-foreign-investors-as-boom-slows.html

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Problems for bitcoin in China as HK trader goes down

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“Chinese users of GBL, a bitcoin trading platform that claims to be based in Hong Kong, were shocked when they found on Oct. 26 that access to the service’s website was no longer available.  With their uncashed bitcoins lost due to the discontinuation of service, users across China have decided to report the case to local police, which had not yet decided as of Oct. 30 whether the case had been made for an investigation, the newspaper said.  GBL, whose domain was only registered on May 9, had been  questionable from the outset, as the introduction to its services featured on the company’s website was a patchwork of information cut and pasted from other companies.”

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131105000045&cid=1202

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China market: Third-party e-payments top CNY1.5 trillion in 3Q13

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“In the China market, third-party e-payment services generated a total transaction value of CNY1.509 trillion (US$245 billion) in third quarter of 2013, rising 12.5% on quarter and 54.6% on year, according to China-based consulting company Analysys International.”

http://www.digitimes.com/news/a20131105VL201.html

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America’s “State-Run” Economy Just Like China’s?

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“The Economist’s American Finance editor Tom Easton declared that he had recently moved to the U.S. from China, but ‘didn’t leave a state-run economy.’  Easton discusses this provocative claim in the accompanying video and provides a list below of issues – beyond ‘obvious’ areas such as interest rates and health care – where the influence of the U.S. government cannot be avoided. ‘Everyone talks about how all-pervasive the Chinese economy and government is inside of it,’ he says. The Chinese government ‘directs capital, controls the banking system and the ‘highlands’ of important industries. I’m still in China when I came back to America.'”

http://finance.yahoo.com/blogs/daily-ticker/america-state-run-economy-just-china-economist-easton-143743553.html

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Russia: Hidden chips ‘launch spam attacks from irons’

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“Cyber criminals are planting chips in electric irons and kettles to launch spam attacks, reports in Russia suggest.  State-owned channel Rossiya 24 even showed footage of a technician opening up an iron included in a batch of Chinese imports to find a ‘spy chip’ with what he called ‘a little microphone’. Its correspondent said the hidden devices were mostly being used to spread viruses, by connecting to any computer within a 200m (656ft) radius which were using unprotected Wi-Fi networks. Other products found to have rogue components reportedly included mobile phones and car dashboard cameras. More than 30 devices had already been sent to retailers in St Petersburg.”

http://www.bbc.co.uk/news/blogs-news-from-elsewhere-24707337

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The U.S. Dollar’s Days are Numbered …

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“The U.S. and the euro zone will likely complete a free-trade agreement next year. It will be the largest agreement of its kind in history, representing almost 50% of world GDP. Mexico had the highest percentage growth in household wealth from 2012 to 2013, with an increase of 17%.  The Chinese renminbi is already entrenched as one of the top 10 most-traded currencies in the world. And the Chinese domestic bond market is already the fourth largest — and it’s growing at 30% a year!  The Reserve Bank of Australia has already announced that it plans to invest about 5% of its reserves in Chinese debt.  Since 2005, the renminbi has appreciated about 35% against the U.S. dollar.”

http://thesovereigninvestor.com/2013/11/01/u-s-dollars-days-numbered/

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The Chinese Driving Bitcoin’s Prices Into The Stratosphere

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“On Oct. 20, Bitcoin Magazine’s Vitalik Buterin wrote that, with some caveats, ‘the Bitcoin markets are dominated by the Chinese.’  ‘Although it might be hard to believe, the Chinese Bitcoin exchanges are in fact responsible for much more trade volume than those in Europe and the United States. BTCChina, the most prominent Chinese Bitcoin exchange, currently shows roughly the same volume as MtGox and BitStamp, and there are plenty of other exchanges that have not received as much public attention outside of China, but whose volumes add up to even more than BTCChina altogether.'”

http://www.businessinsider.com/china-and-bitcoin-2013-10

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Heavy Smog In China Blocked Out Everything But A Giant TV Screen

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“China’s smog has been so bad lately that entire cities were shut down last week because of pollution that can be seen from space.  The conditions change quickly, as can be seen by these totally different photos of the same skyscraper taken only 10 days apart in Shenyang in Liaoning province.  Monday was a particular smoggy day in Shenyang, and a Reuters photographer snapped this photo that shows everything but a massive TV screen obscured by the pollution. It highlights the fact that the toxic cloud covers just about everything.”

http://www.businessinsider.com/heavy-smog-in-china-blocked-out-everything-but-a-giant-tv-screen-photo-2013-10

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Fake Windows Painted on Qingdao Residential Complex Buildings

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“October 23rd, Qingdao, the Yichang Meijing [‘Beautiful Scenery’] Residential Neighborhood located at the intersection of Yichang Road and Xinglong No. 1 Road in Qingdao city’s Shibei district is a low-cost high-rise residential complex. On the walls of three buildings near the Yichang Road side, many ‘windows’ were neatly painted, with netizens calling it a modern Ma Liang and His Magic Brush.”

http://www.chinasmack.com/2013/pictures/fake-windows-painted-on-new-chinese-qingdao-apartment-building.html

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Guy Who Predicted Lehman Brothers’ Fall Sees Big Trouble for China

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“The next financial crisis will not come from the United States. All of my systemic risk indicators are clearly pointing at Asia. Asia is back where we were in 2007; they have a trillion dollars of toxic assets off the balance sheets — hidden. If you look at interbank lending, we meticulously measure every day how much banks trust each other, and that is a phenomenal leading indicator.  If you take summer 2011, the S&P dropped 20 percent in about 35-45 days. And sure enough, right before that, the interbank trust in Europe in May and June was completely breaking down because some banks in Europe, France and Germany own a lot of Greek bonds and the Greek bonds were in flames.”

http://www.dailyfinance.com/2013/09/12/china-bank-risk-lawrence-mcdonald-predicted-lehman-brothers/

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