Russia to help Afghanistan in defense field
January 19th, 2009 Russian President Dmitry Medvedev expressed his country’s readiness to assist Afghanistan in the field of defense and security,reports Xinhua.
Cambodia-Vietnam Trade Nears US$1.7 billion
January 16th, 2009Trade between Viet Nam and Cambodia came close to US$1.7 billion in 2008, a 31 percent year-on-year increase, according to sources from the Vietnam Commerce Bureau in Cambodia.
According to state news, Vietnam exported more than $1.45 billion worth of goods, including construction steel, farm machinery, fertilisers, plant protectants, consumer goods, processed agricultural produce and seafood, dairy products and re-exported oil and gas.
China’s Internet Users as Numerous as U.S. Population
January 16th, 2009The number of internet users in China reached 298 million in 2008, nearly the populations of the United States, according to the official China Internet Network Information Center. The figure is a 43 percent increase over 2007.
There have been many articles, including this excellent one by James Fallows, on the manner in which the internet in China is censored – how the so-called Great Firewall of China operates. People who live outside the wall often do not fully appreciate just how it works, doesn’t work, the ease of which it can be circumvented, and how many people actually don’t bother or care. With so many people online in China, those who are outside the wall and want to feel part of the action can dowload this Mozilla Firefox plug.
EU says Russia and Ukraine have been damaged in the business world
January 16th, 2009The European Union has said Ukraine and Russia have both been damaged over their inability to provide European countries with gas.An EU statement has warned that the dispute between the two countries will have significant economic, financial and political consequences.
The statement followed a meeting of EU energy ministers in Brussels, reported by Tajikistan News
Chinese Officials Gamble, and Their Luck Runs Out
January 15th, 2009An increasing number of Communist Party bosses and government officials who, government prosecutors say, pillaged state funds, company accounts and municipal treasuries to try their luck in Macau, according to the nytimes.
Many of the biggest losers have been sent to prison and at least 15 have been executed. Some have committed suicide. The scandals have become a source of deep embarrassment for the Chinese government, which has now begun cracking down on travel visas for Macao.
North Korea delays clampdown on market trading
January 15th, 2009Communist North Korea has postponed a planned clampdown on market trading for fear of provoking widespread public resistance, reported AFP.
The regime, apparently fearful of undermining the state-directed economy, in late November announced plans to ban general markets that sell consumer goods from early 2009.
China Claims No.3 GDP Spot
January 15th, 2009China’s National Bureau of Statistics yesterday revised its 2007 economic growth estimate from 11.9 percent to 13 percent. The new numbers raised China’s GDP to 25.7 trillion yuan ($3.5 trillion at 2007 exchange rates), edging past Germany’s 2.4 trillion Euros ($3.3 trillion) for the same period. Merrill Lynch economist Ting Lu agrees with the numbers:
“Today’s numbers definitely raise the weight of China in the world economy. I think it will take only three to four years for China to overtake Japan as the second-largest economy. “
Russia Blames America for the EU’s Gas Crisis
January 15th, 2009Russian gas company Gazprom claimed that the Ukraine was blocking gas supply to the EU, hours after they had resumed. Gazprom stated that the US was ultimately responsible for the Ukraine’s blockage. According to Gazprom deputy chairman, Alexander Medvedev,
“It looks like … they are dancing to the music which is being orchestrated not in Kiev but outside the country.”
Medvedev later explained that he was referring to the Ukraine’s strategic partnership deal with the US.
Vietnam Catholics file suits against state media over trial reports
January 14th, 2009Two Vietnamese Catholic women filed a legal case against state media outlets over their coverage of a recent trial stemming from a tense land dispute with the church.
The two women demanded corrections, apologies and damages from a state newspaper and a television station for reporting that they had pleaded guilty in court to charges of disorderly conduct and vandalism, which they deny.The women took part in mass prayer vigils last month for the return of a church property in the capital that was taken over by the government 50 years ago, reports the AFP.
Dollar flow to China slows down
January 14th, 2009China’s foreign reserves grew at its slowest pace since 2004. The central bank had less dollars to buy Treasury bonds and other foreign assets with because investment money migrating out. The nytimes reports:
China’s central bank released data on Tuesday evening showing that reserves grew by $40.45 billion, to $1.95 trillion, in the fourth quarter of 2008. That was less than half the growth in the third quarter and less than a third of the pace in the first half of the year.
While China continues to run large trade surpluses, companies and individuals have been moving savings out of the country and delaying investments into China. The reserves actually shrank $25.90 billion in October, at the height of the financial crisis, and then gained $5.03 billion in November and $61.30 billion in December, according to the central bank.
