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• The Reconstruction in Quake Zone

  2008-7-16

  The Reconstruction in Quake Zone

   

  After 5.12 Wenchuan Earthquake, the suffering area are facing the great challenge of reconstruction. But Chinese governments spares no effort and takes great materials and manpower to help those people impacted by this catastrophic disaster out of problem, restoring people’s normal life in the quake zone! However, although government has make effort to reduce those suffering people’s damage as possible, individual concerned still would be sticking to great difficulty physically and psychologically for long time even for life to many people who lost almost everything concrete: relatives, friend, and property.   

   

  It is reported that by now 5.12 Wenchuan Earthquake has caused several million people suffered, more seriously over 100,000 persons disabled hardly to independently live by themselves and to deal with their own basic live. To those people, their some damage might never be compensated with anything. Certainly our responsible government will take care of their rest of life, but what about those who are not taken into the scope of being taken care by governments but still suffered great lose in terms of their economic level like living house, enterprise, land of food provider? Before earthquake happened, most of them enjoyed not so wealthy but well-off life, however, sudden quake happened to them, everything was eaten by nature disaster, and the majority of the quake-striken has slipped into poverty, bankruptcy, and even worse having nothing to deal with themselves.  What will you do?

   

  So Facing such rigour situation, our society and governments should stick together to give hand to them in helping them gradually step out of hardest time. Government should take multi-measures: specifically directly subsidizing promulgating more favorable economic policy to guide and encourage investors to develop their enterprises, provide more job opportunities for people in the quake zone. And even more important, local government should guide the suffered people to have agriculture farming self-secure activity. By those means, the quake zone could really reconstruct as early. Additionally, government and all people have to strength the conception of prevention earthquake and coping with earthquake properly to reduce potential damage as possible as they can.      

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• the year of 2008

  2008-7-14

  Back again

   

  Hello, the blog-visitor, for certain long time I have not come back here to talk something about economics and politics that I show in my title announcement with everyone!  In fact because of money-care work tied, I have no so much time to manage the blog. Well I will take effort to spare some time from my endless work to be back here for sharing my viewpoint about home and abroad economic and political event in 2008 full of great events: heartbreaking earthquake, magnificent event, turbulent economic development!

   

  For China, 2008 is eventful, sorrowful as well, but meanwhile also makes rest of country see the greatness of Chinese nation. From the disastrous snowstorm at the beginning of this year to the catastrophic earthquake that has happened not long time ago, Chinese nation shows unprecedented persistence and cohesion in front of great natural disaster. 

   

  But in respect of economy and finance, in general China still keeps robust and rapid but not steady development. And for many foreign far-sight businessmen, China is still their favorable investment destination, which is main pillar to her dynamic development, confronting with tiring natural disaster impact though. But unfortunately, it seems that government did not do a good job in curbing hateful inflation that was triggered by global energy crisis last August, but anyway the government really has made effort to do that under such complex international economic environment.  And stock market suffered large slow-down: bear market showed in Shanghai Composite Index jumped down the level of around half thousand points.  Well, the energy resource, the economic developing drive, sees turmoil that crude oil price had surged $147 one barrel in this July from about $70 one barrel last year. However, what rends people mind worry about is oil crisis has been leading world food crisis. Specifically it is reported that American are producing and buying food: corn, peanut full of eatable oil for biochemical oil production as replacement of less and less crude oil reserve supply.

   

  Well let’s go back our home to hear what happened. I thought May 12 quake is a regretful day for some Chinese people, esp for those Sichuan because this quake resulted in 80,000 people died over 100,000 people injured, several million people homeless and direct economic damage no a precise statistic until but at least several trillion dollars, I presume. In this quake Chinese show a great courage and braveness to crash difficulties and fight against natural catastrophe.  Here what have to mention is Chinese government quick response and efficient relief work: Almost no sooner  did break the earthquake in Wenchuan county the epicenter of 5.12 quake than Chinese centre government took quick response to dispatch the PLA garrisoned locally Sichuan to quake zone. Meanwhile the government also promulgated update news to public, organizing various relief work team: medical tem, firefight team, and other working group to rush in quake-seized area for relief, and even Premier personally came to onsite to direct relief work at same time without consideration of personal safety.  Additionally, Chinese social group, and international body and group, and foreign country’s government and non-government organization also gave their hand to help the quake-hit people through different ways: to be a volunteer, donation money or various equipments required in relief work.  With home effort and abroad help, Sichuan quake zone now has got through most difficult time, gradually recovering their normal life!

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• A great Star in Muslim World Perished

  2008-1-02

  Bhutto Dies in Bomb Attack

  

   

  Benazir Bhutto, the first elected female leader of a Muslim state, was on Thursday killed in a gun and bomb attack after a rally in the Pakistani city of Rawalpindi. The death of Ms Bhutto, 54, who had served as Pakistan's prime minister from 1988-90 and again from 1993-96, raised the spectre of instability and violence in the nuclear-armed Muslim nation.

  Ms Bhutto – who returned to Pakistan in October after eight years of exile – had hoped to stage another political comeback in the parliamentary elections scheduled for January 8. The leader of the Pakistan People's party, the former prime minister had recently been negotiating the terms of a power-sharing agreement with President Pervez Musharraf.

  Mr Musharraf, a political rival of Ms Bhutto's who overthrew then-prime minister Nawaz Sharif in 1999, quickly condemned the attack. “This cruelty is the work of those terrorists with whom we are fighting,” Mr Musharraf said in a brief televised address.

  “The biggest threat to Pakistan and this nation is from these terrorists. I seek unity and support from the nation . . . we will not sit and rest until we get rid of these terrorists, root them out.”

  Mr Sharif, another former prime minister hoping to stage a return to power after a lengthy exile – and another rival of Ms Bhutto's – called the assassination a “tragedy” and appeared to blame Mr Musharraf for the security lapse. “Benazir Bhutto was also my sister, and I will be with you to take the revenge for her death,” Mr Sharif said.

  The shock of the assassination reverberated strongly elsewhere in the region. Hamid Karzai, Afghanistan's president, who had met Ms Bhutto hours before her assassination, condemned her killing. “I met with her this morning [and] I found her to be a very, very brave woman, with a clear vision for her own country, for Afghanistan, and for the region, the vision of democracy and prosperity and peace,” Mr Karzai said. “I am deeply sorry, deeply pained, this brave sister of ours, brave daughter of the Muslim world is no longer with us.”

  “The subcontinent has lost an outstanding leader who worked for democracy and reconciliation in her country,” said Manmohan Singh, prime minister of India, Pakistan's neighbour and nuclear rival. India also issued a nationwide alert to all of the country's states to remain vigilant following the assassination.

  Leaders around the world echoed Mr Karzai and Mr Singh. Gordon Brown, UK prime minister, called the day's events “a tragic hour for Pakistan” and referred to Ms Bhutto's attackers as “cowards”.

  In Crawford, Texas, President George W. Bush said the US strongly condemned “this cowardly act by murderous extremists who are trying to undermine Pakistani democracy”.

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• The Surging Fuel Price Impact the Economic Impulse

  2007-12-17

   

  NERVOUS BEIJING RAISES FUEL PRICES AS SHORTAGES BITE

   

   

  The murder of a man who jumped a petrol queue in China's central Henan province on Wednesday is the stuff of nightmares for the authoritarian Chinese government.

  Faced with worsening fuel shortages across the country Beijing raised petrol, diesel and jet fuel prices at the pump by almost 10 per cent yesterday, in an effort to boost domestic supplies and exorcise the spectre of social unrest.

  The policy reversal came as shortages spread to the capital, which is usually immune from the country's periodic supply crunches.

  But the government is unwilling to allow prices to rise too much because of a morbid fear of spiralling inflation, which has a history of toppling governments in China and is currently running at a 10-year high, above 6 per cent.

  In announcing the price increase the government said it would not allow rising fuel prices to be passed on to transport and other fuel-dependent industries but would provide direct subsidies to these sectors instead.

  Soaring global crude oil prices, which were pushed above $96 a barrel in Asian trade yesterday – partly in reaction to China's increase – pose a serious dilemma for Beijing, which last raised its tightly controlled fuel prices in May 2006.

  China is the second-largest crude oil consumer after the US and although it was a net exporter as recently as 1993 it now relies on imports for nearly 50 per cent of its crude supply.

  The current shortages, particularly of diesel, result from a combination of high global oil prices and strict government controls, causing huge losses for Chinese refiners that must pay more for oil but cannot raise prices at the pump.

  Even after this week's rise, wholesale petrol prices are equivalent to only about $76 a barrel in China, compared with the international average of $102, according to analysts.

  The one-off price increase therefore appears to be a stopgap measure made by an administration that is betting falling international prices will eventually allow it to loosen its the FT in a recent interview.   (For continuity)

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• The Surging Fuel Price Impact the Economic Impulse

  2007-12-17

   

  NERVOUS BEIJING RAISES FUEL PRICES AS SHORTAGES BITE

   

   

  The murder of a man who jumped a petrol queue in China's central Henan province on Wednesday is the stuff of nightmares for the authoritarian Chinese government.

  Faced with worsening fuel shortages across the country Beijing raised petrol, diesel and jet fuel prices at the pump by almost 10 per cent yesterday, in an effort to boost domestic supplies and exorcise the spectre of social unrest.

  The policy reversal came as shortages spread to the capital, which is usually immune from the country's periodic supply crunches.

  But the government is unwilling to allow prices to rise too much because of a morbid fear of spiralling inflation, which has a history of toppling governments in China and is currently running at a 10-year high, above 6 per cent.

  In announcing the price increase the government said it would not allow rising fuel prices to be passed on to transport and other fuel-dependent industries but would provide direct subsidies to these sectors instead.

  Soaring global crude oil prices, which were pushed above $96 a barrel in Asian trade yesterday – partly in reaction to China's increase – pose a serious dilemma for Beijing, which last raised its tightly controlled fuel prices in May 2006.

  China is the second-largest crude oil consumer after the US and although it was a net exporter as recently as 1993 it now relies on imports for nearly 50 per cent of its crude supply.

  The current shortages, particularly of diesel, result from a combination of high global oil prices and strict government controls, causing huge losses for Chinese refiners that must pay more for oil but cannot raise prices at the pump.

  Even after this week's rise, wholesale petrol prices are equivalent to only about $76 a barrel in China, compared with the international average of $102, according to analysts.

  The one-off price increase therefore appears to be a stopgap measure made by an administration that is betting falling international prices will eventually allow it to loosen its the FT in a recent interview.

  Yanshan, which provides 60 per cent of Beijing's petrol, expects to lose more than Rmb1bn ($130m, £65m,

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• Dollar’s Depreciation Influence

  2007-12-04

  Dollar’s depreciation pulls those nation with large amount of foreign exchange into predicament

   

  The sliding dollar has presented custodians of the world's massive foreign exchange reserves with a conundrum.

   

  Countries such as China and those in the Gulf, which peg their currencies to the dollar, risk inflationary pressure that has the potential to trigger serious economic and social problems.

  But any move to cut their links to the dollar could spark a run on the currency that would undermine the value of their reserves.

   

  Global currency reserves have soared from $2,000bn in the second quarter of 2002 to $5,700bn (

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• The return rate of hedge fund boosts beyond full percent

  2007-11-27

  

  The return rate of hedge fund boosts beyond full percent in U.S

  A Californian hedge fund has made more than 1,000 per cent return this year by betting against US subprime home loans, making it one of the world’s best-performing funds of all time.

  Lahde Capital, set up in Santa Monica last year by Andrew Lahde, last week passed the 1,000 per cent mark, after fees, following the latest leg of the credit market turmoil. The fall in the value of subprime-linked securities has boosted a group of funds which spotted the problems in advance

   

  The decision to use derivatives to short, or bet against, low-quality US home loans taken by a select group of hedge funds last year appears to have become the most profitable single trade of all time, making well over $20bn in total so far this year.

  Presently the hedge fund is a new commer in Shanghai's financial market, compared to the very popular common fund in F-market that attracts more and more Shanghainese investor to pour their deposit into financeial capital market under the priciple that it is much more secure for the return of investment to invest in fund market. So the miracle of the return rate of the hedge fund in finance market will pioneer Shanghai's hedge fund investment fever in near future. But investors still need to keep vigilant to fund investment because the fund investment also exsits risk that were proved by recent report of fund invest's lose from No.1 of Shanghai Finance Channel! 

   

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• Give up Military Position As Chief of Army Staff

  2007-9-19

  

  Pakistan's President Musharraf  Give up Military Position As Chief of Army Staff If re-elected

  General Pervez Musharraf will retire from his powerful position as the military's chief of staff if he is re-elected as Pakistan's president next month, his lawyer said yesterday in a move to calm mounting opposition to his rule.

  The announcement marked the clearest indication yet that Gen Musharraf, who has ruled Pakistan since a bloodless coup in 1999, may be ready to relinquish control of the military and continue only as a civilian ruler.

  “If elected for a second term as president, General Pervez Musharraf shall relinquish charge of office of chief of army staff soon after the election and before taking oath of office as president,” said Sharifuddin Pirzada, the president's chief counsel, during a session of the Supreme Court.

  Pervez Musharraf anounced this decision two days ago. Doubtless, his such decission will help himself keep his position of president of Pakistan in next round election. Meanwhile as a matter of fact, he makes such announcement under various political pressure from his oppisition party "People's Party" that called him to resign. Additionally recent social Chaos like kidnapping Chinese worker in local place, some other mid-size blood attacks deteriorate Mr. Musharraf image as president. Among a series of incident three Chinese had been killed;  furthermore, Musharraf  stormed the Red Mosque in capital that has been defying government for six months in response to Chinese government's protest  at the kidnapping of seven Chinese who were accused of runing a brothel in Islamabad the capital of Pakistan.

  But more seriously, the former prime minister Mr.Nawaz Sharif of Parkistan returned from outside country to challenge Musharraf through triggering opposition party to separate Musharraff's force. Ironically this poor former Minister was force back to exile in Saudi Arabia after coming back the land that had belong to him eight years ago, for two hours.

  Eight year ago, Musharraff took the president position through non-blood-shed coup that not long ago Thailand watched such real scenario again.  

   

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• The icon of Chinese Financial Center: Shang Hai Finance Centre

  2007-9-18

  

   

  When Minoru Mori first came to Shanghai in 1994, the Japanese real estate tycoon was reminded of the dynamism of postwar Tokyo. He promptly bought a large plot of land in Pudong, the area designated by the government to become Shanghai's international financial centre.

  Thirteen years later, his trophy project is finally taking shape. Workers laid the last beam on Friday of the 1,614-ft tower, which is now the tallest in a country becoming addicted to tall buildings.

  Called the Shanghai World Financial Centre, Mr Mori believes the skyscraper will become an icon for the new-found confidence of China's financial markets. When construction started on the first floor in mid-2005, the Shanghai market was touching 1,000 points: as workers complete the 101th storey, it is above 5,000 points.

  “The timing is just about the best it could be,” said Mr Mori. The $1bn building will eventually host a string of international banks, he said, and become “the pride of Shanghai”.

  To get this far, Mr Mori has had to plough through some formidable obstacles. After initially breaking ground in 1997, the project's financial backers began to pull out when the Asian financial crisis devastated demand for office space. The company says there are now plenty of potential investors and Morgan Stanley has agreed to take a 10 per cent stake in the project.

  The tower also found itself caught up in the complex politics of Japan's relationship with China. The initial design included a large hole at the top of the building, where Mr Mori hoped to install a Ferris wheel. The developer said the hole was based on the Chinese symbol of a moon gate: angry Shanghaiese, who remember Japan's wartime occupation of the city, claimed it resembled the sun at the centre of the Japanese flag.

  In the aftermath of angry anti-Japanese demonstrations in Shanghai and Chinese criticism of visits by politicians to the Yasukuni shrine in Tokyo, Mr Mori quietly changed the design to a square in 2005. “We were never bullied for being Japanese,” he insisted.

  The Shanghai building is only surpassed in height by Taiwan's Taipei 101 tower and the Burj Dubai skyscraper. Yet tall buildings have not always been the best allies of financial market confidence. Construction of the Empire State building began in 1930, just as the Great Depression was taking hold, while the Twin Towers in Kuala Lumpur was topped out in 1997 as the Asian crisis was breaking.

  One of Mori Building's most ambitious projects was the Ark Hills in Tokyo, which was completed after two decades of work in 1986 – just a few years ahead of the prolonged slump in Japanese stocks. Mr Mori admits it took at least another decade before the building fulfilled its goal of becoming a centre for the international financial industry.

  Indeed, some analysts have drawn parallels between the Shanghai market today and “bubble” Japan of the late 1980s. Not only are valuations worryingly high, but a large part of Chinese corporate earnings this year have come from equity investments – just as speculation once boosted Japanese corporate profits.

  And while Japan rode out the 1987 crash after an initial fall, the Shanghai market has been oblivious to the global credit crunch since its February correction.

  Low clouds over Shanghai on Friday made it difficult to see the top of the new tower. Mr Mori will be hoping his prized skyscraper becomes the symbol of a market that has come of age instead of one that has already reached its peak.

   

  Undoubtedly, the completion of Shang hai Finance Center Tower is not only the symbole of Chinese skyscraper but the sign of Chinese Finance  position across the world.  We hope that the Tower as the tallest building in China construction history will play a critical role in the rise of the Finance Industry of China. Personally I thought what the Finance tower towering above the Jingmao Contruction which is rightly left hand of it just is similar to the World Trade Centre of New York in U.S.A that is the tallest tower in American continent but unfortunately one of them was tumbled straggledly in the 9.11 Attack from Al-qaida. Now both Shanghai and New York enjoy the title of world Financial Centre and exactly speaking the Lujiazui Zone will develop into a finacial tycoon like Manhattan of New York city.

  In any event we lay great expection in this icon tower in majority of Chinese that will lead China's finance industry to great prosperity.

   

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• Prime Minister of Japan: Shinzo Abe's sudden resignation

  2007-9-14

  

   

  Japanese Primier's Sudden Resignation

  I thought the news that Shinzo Abe as Japanese 90th Prime Minister will step down suddenly right after Apec submmit Meeting in Australia had  never occured to everyone who is keen to Japanese politics.    I by myself was so surprised to this news because Abe as  current Prime Minister of Japan is very popular with majority of Chinese for he since his inception of taking office last August actively improve Sino-Japan diplamatic relation that was so tdespressing  during last Primier Minister's tenure. 

  Last weekend,  it is reported that Abe has been sent into hospital to have treatment for his exhaustion and intestinal malady which may explain his sudden resignation as prime minister reasonably and also presumably. Meanwhile Japan Island also release the news that new prime minister will be elected in this  September among two candiates: Taro Aso who is current secretary-general of the Liberal Democracy Party and an ally of Mr Abe most obvious choice to replace him, another one: Yaso Fukuda  a semi-retired party elder. Whoever will be elected as PM of Japan, we hope he will keep attaching importance to Sino-Japan friend ties in future.

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