November 5, 2014
...Foreign Ministry spokesman Hong Lei (click here) made the comment at a regular news briefing when asked to comment on a speech by US Secretary of State John Kerry in a lecture in Washington.
China's five year plan needs to include a Middle Class strategy that provides for wealthy Chinese, but, also a better quality of life for all citizens of China.
...Foreign Ministry spokesman Hong Lei (click here) made the comment at a regular news briefing when asked to comment on a speech by US Secretary of State John Kerry in a lecture in Washington.
Kerry promoted the importance of enhancing ties with China on Tuesday and expressed concerns about tension in the South China Sea ahead of President Barack Obama's China visit next week.
"We have noticed Kerry's speech. The 35-year history of diplomatic relations between China and the United States has fully proved that the two countries share important mutual interests and a wide scope for cooperation," Hong said.
Both sides should and can cooperate more at the bilateral, regional and global levels to safeguard and contribute to peace, stability and prosperity in the Asia-Pacific region and the world, he said....
China's five year plan needs to include a Middle Class strategy that provides for wealthy Chinese, but, also a better quality of life for all citizens of China.
Liu Qiangdong, CEO of JD.com, raises his arms to celebrate his company's being listed at the Nasdaq MarketSite in New York, May 22, 2014. [Photo/IC]
Tech giants rank high in the list of 400 richest Chinese released by Forbes magazine on Tuesday. This year's list has 242 billionaires, an increase from 168 in 2013, and includes more than 90 individuals who failed to make the cut last year, according to 2014 Forbes China 400 list.
IT moguls Jack Ma, Robin Li and Pony Ma occupy the top three places on the list, with Jack Ma sitting at the throne with personal fortune worth 119.34 billion yuan ($19.5 billion).
Let's take a look at the 10 richest Chinese in 2014....
Now, pay attention. The TPP is highly contested by American labor. China on the other hand has taken the initiative that if the TPP is not instrumented at the APEC, it will happily go another way with other nations. Sounds like a plan. I have to admire China to rise to the occasion to provide stability in American labor markets, hence, stability in their trade markets in the USA.
November 6, 2014
By Jayant Menon
There appears to be a race between the United States and China (click here) to dominate the rules-setting game for trade by being the first to be able to announce plans of realizing a Free Trade Agreement for the Asia-Pacific. If the Trans-Pacific Partnership can be concluded, in one form or the other, so an announcement can be made at the APEC meeting in Beijing at the end of the week it would steal the thunder from China. But if such an announcement is not forthcoming, China will likely announce a "Beijing Road Map" for an FTA of the Pacific-rim, building on APEC rather than the TPP. Billions of dollars in trade are at stake....
China is an emerging market. It should not set it self up for potential failure by limiting it's growth. The TPP and most other USA trade agreements are meant to circumvent the WTO. I think the WTO needs to be strengthened. It was suppose to be the one place trade disagreements were to be worked out. If countries are going to circumvent the WTO, it is going to be very costly and quite possibly even jurisdictional issues. The WTO has always prevented that and it should continue.
China has had it's lawsuits within the WTO, but, it has made it take notice of it's practices. That is good thing.
...In the last couple of years, (click here) rare earth prices have been unpredictable. In the short term, the WTO ruling could push prices further down by increasing Chinese supply. Last year, China’s rare earth exports rose by 38.3 percent, but the export value fell by 36.7 percent in the same period. The impact has already become visible in the market. The prices of the rare earth elements cerium, lanthanum and ytterbium plunged by 40 percent in the second half of last year and the trend has continued into this year as the average price of rare earth elements has fallen back to the levels of 2010....
...It has reached a level where even US defence industries are dependent on China for some of their advanced materials and components, including the magnets used in F-35 fighter jets....
No one wants the F-35 anyway. Interesting. The USA needs Chinese metal for magnets in the F-35 and then it's computer system becomes a problem. Yep, the F-35 is one big headache for many reasons.
China supplies almost 90 percent of global rare earth minerals and consumes about 70–75 percent. According to a US Government Accountability Office Report, as of 2010 China controlled 97 per cent of rare earth ore, 97 per cent of rare earth oxides, 89 per cent of rare earth alloys, 75 per cent of the neodymium iron boron magnets industry and 60 per cent of the samarium cobalt magnets industry. This dominance extends to the production of key intermediate products, such as magnets —many of these products being critical inputs for high growth industries such as hybrid cars, windmills and lighting.
Now, windmills and hybrid cars sound like an interesting venture for China and the USA. China needs, to some extent, decide it's own best interests, too. An F-35 or a hybrid car and windmills? I would think that is an easy decision.
China supplies almost 90 percent of global rare earth minerals and consumes about 70–75 percent. According to a US Government Accountability Office Report, as of 2010 China controlled 97 per cent of rare earth ore, 97 per cent of rare earth oxides, 89 per cent of rare earth alloys, 75 per cent of the neodymium iron boron magnets industry and 60 per cent of the samarium cobalt magnets industry. This dominance extends to the production of key intermediate products, such as magnets —many of these products being critical inputs for high growth industries such as hybrid cars, windmills and lighting.
Now, windmills and hybrid cars sound like an interesting venture for China and the USA. China needs, to some extent, decide it's own best interests, too. An F-35 or a hybrid car and windmills? I would think that is an easy decision.
