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China’s Growing Economic Crisis

By William Pesek
Bloomberg
Aug 30, 2012

Policy makers around the world have long envied China’s ability to get big things done. A huge 4 trillion-yuan ($630 billion) stimulus plan as the global economy cratered in 2008? No problem. Marshaling banks to lend trillions more? Check. Enacting sweeping regulatory changes at a moment’s notice? You bet.

Ahhh, the good old days. Now, a once-in-a-decade leadership shift is getting in the way of the stimulus-happy policies to which investors became accustomed. The nimbleness that helped China steer around the worst of the global crisis is confronting political paralysis of the kind more often seen in Japan, Europe and the U.S. The upshot is that China’s 7.6 percent growth rate may fall more in the next 12 months than anyone expects. Continue reading “China’s Growing Economic Crisis”

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‘Hometowns’ battle to claim their celebrities

By Hu Yongqi and Hu Yinan
2011-06-07 | China Daily

Cashing in by claiming a star as one of their own can boost tourism revenue and give regions bragging rights, report Hu Yongqi and Hu Yinan in Beijing.

As Li Na ended her campaign in France to become Asia’s first Grand Slam singles winner, another battle commenced at home.

Li Yanping, the new champion’s mother, was on a trip to her uncle’s native county of Xinhua in Hunan province on Saturday when the final began in Paris.

When she arrived, reporters, tennis fans and local officials were waiting.

National television repeatedly showed scenes of cheering crowds around Li Yanping with red banners proclaiming, “Come on, sister Na, a good daughter of Xinhua”.

A daughter of Xinhua? There’s certainly a family connection, but Li Na was born and raised in Wuhan, capital of Hubei province. People there felt that their thunder had been stolen. Continue reading “‘Hometowns’ battle to claim their celebrities”