February 13, 2011 9:54 pm
China in talks over Panama Canal rival (click title to entry - thank you)
By John Paul Rathbone and Naomi Mapstone in Bogotá
China is in talks to build an alternative to the Panama Canal that would link Colombia’s Atlantic and Pacific coasts by rail – a move that Bogotá also hopes will spur Washington to push for Congressional approval of a US-Colombia free-trade pact.
“It’s a real proposal ... and it is quite advanced,” Juan Manuel Santos, Colombia’s president, told the Financial Times. “The studies [the Chinese] have made on the costs of transporting per tonne, the cost of investment, they all work out.”...
I don't believe there has been much progress noted about the Trans-Columbian railroad lately. But, one has to wonder what goes on with these Chinese million-billionaires. But, I thought this article below interesting.
May 25, 2011
HSBC Holdings, the U.K.-based banking behemoth, said it was going to hire 2,000 employees in China and Singapore. Since over 50% of its profits come from Asia, HSBC knows a thing or two about the region.
“Opportunities for growth are many in China. We forecast that the combined middle-class population of India and China will exceed the population of the U.S. by 2025,” the company said.
HSBC already has more than 5,000 employees working at its Chinese banks and clearly expects to make a mountain of money there by offering wealth management and insurance in addition to traditional banking services....
2025. An important year when the Middle Classes of China and India will replace the Middle Class of the USA. Then what does anyone need the USA Middle Class for?
