Posts tagged ‘United States’

09/01/2014

* At 97m and growing, China has most outbound tourists – Chinadaily.com.cn

China had the highest number of outbound tourists and amount of overseas spending in the world last year, according to a report released on Wednesday.

At 97m and growing, China has most outbound tourists

Ninety-seven million Chinese traveled abroad in 2013, beating the 2012 mark by roughly 14 million, according to the China National Tourism Administration. The number is expected to surpass 100 million this year.

The report released on Wednesday by the Tourist Research Center of the Chinese Academy of Social Sciences said that China\’s tourists have had the world\’s strongest purchasing power since 2012. They overtook German and US tourists as the world\’s biggest-spending travelers in 2012, spending $102 billion overseas, a 40-percent increase from 2011.

Most Chinese tourists traveled to Asian and European countries, the report said, accounting for 75 percent of overseas tourists in those countries.

Song Rui, director of the center, said the 2013 figures for overseas spending have yet to be released, but there will \”definitely\” be a new record by Chinese tourists.

\”Chinese tourists spend so much abroad that some foreigners are calling us the \’walking wallets\’, \” Song said, who added that Chinese travelers who purchased luxury products during the 2012 London Olympics led Britons to coin the term \”Peking Pound\” for Chinese spending power.

The report said Chinese tourists spent on average $7,107 per person during their trips in the US in 2011. The average amount of spending by a tourist in the US that year, according to the US Commerce Department, was $2,440.

With increased spending and traveling by Chinese travelers, more travel service providers in foreign countries are adjusting their business models. Hotel groups, including Hilton Worldwide and Starwood Hotels & Resorts Worldwide, have designed new services specifically for Chinese customers.

via At 97m and growing, China has most outbound tourists – Chinadaily.com.cn.

Enhanced by Zemanta
09/01/2014

* Chinese Investment in U.S. Doubles to $14 Billion in 2013 – Businessweek

Chinese companies are on a North American buying spree, investing $14 billion in the U.S. last year, a record high, says a new report by New York’s Rhodium Group.

Chinese investment in the United States doubled in 2013, driven by large-scale acquisitions in food, energy and real estate,” write analysts Thilo Hanemann and Cassie Gao in “Chinese FDI in the U.S.: 2013 Recap and 2014 Outlook,” released on Jan. 7.

“We expect Chinese interest in U.S. assets to remain strong in 2014 because of aggressive economic reforms in China, a more liberal policy environment for Chinese outbound investors, and a positive outlook for the U.S. economy.”

Whereas state-owned companies have dominated in total deal value in the past, that is no longer true. In 2013, more than 70 percent of investment came from private enterprises, responsible for more than 80 percent of a total of 87 deals (of which 44 were acquisitions and another 38 were greenfield projects).

Where is the money going? Unconventional oil and gas was a top draw, with $3.2 billion invested in deals that include CNOOC’s (CEO) purchase of Calgary, Alberta-based Nexen Energy’s U.S. operations, Sinopec’s (SHI) joint venture with Chesapeake Energy (CHK) of Oklahoma City, and a Sinochem International (600500:CH) stake in West Texas’s Wolfcamp Shale. Commercial real estate was also a big draw, with 18 investments in San Francisco, Los Angeles, New York, and Detroit totaling $1.8 billion. And the single biggest deal: Shuanghui’s (000895:CH) $7.1 billion takeover of pork processor Smithfield.

Chinese companies are also becoming big employers of Americans, says Rhodium, providing more than 70,000 full-time jobs as of the end of last year. That’s an eightfold increase since 2007. Huawei Technologies (002502:CH) and Lenovo (992:HK) are big employers, but just one company—Smithfield—accounted for 37,000 of the total workers at Chinese companies.

A separate report released in early December by private equity fund A Capital found that Chinese investors put $24.7 billion into mergers and acquisitions in all of North America in the just first three-quarters of last year.

via Chinese Investment in U.S. Doubles to $14 Billion in 2013 – Businessweek.

Enhanced by Zemanta
09/01/2014

* India to seek foreign investment in giant, creaking rail network | Reuters

English: A speed board to show train speed lim...

English: A speed board to show train speed limits on the QR rail network in Queensland, Australia. The square/boxed limit is for Tilt Trains; the higher limit is because the Tilt Trains are capable of traveling through curved sections of track at faster speeds while maintaining passenger comfort. (Photo credit: Wikipedia)

India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country\’s last great state-controlled industries.

Foreign investors will be allowed to fully own new services in suburban areas, high speed tracks, and connections to ports, mines and power installations, said two senior officials involved in the deliberations.

Existing passenger and freight network operations will not be open to foreign investors under the initiative, which seeks to ease bottlenecks that slow travel on the world\’s fourth-largest rail system.

\”The plan is to allow 100 percent foreign direct investment in suburban corridors, high-speed train systems, freight line projects implemented through public-private partnership,\” said an official at the Department of Industrial Policy & Promotion.

via CORRECTED-India to seek foreign investment in giant, creaking rail network | Reuters.

Enhanced by Zemanta
08/01/2014

India Hits U.S. Where it Hurts: In the Club – India Real Time – WSJ

When trying to win a diplomatic spat, the ability to make life a little less comfortable for the other country’s citizens by denying them diplomatic privileges and an expat lifestyle, can prove a useful weapon.

India this week tightened the screws on the U.S. Embassy and American citizens in New Delhi as part of an ongoing row over the arrest of one of its mid-ranking diplomats in New York in December.

The government told the U.S. to shut down its club for American expats and stop operating shops and other commercial establishments in its embassy compound by Jan. 16, an Indian government official familiar with the matter told The Wall Street Journal on Wednesday.

This means no more dining at the restaurant, swimming in the pool or playing on the soccer field or tennis court for members of the elite American Community Support Association, popularly known as American Club. These perks, reserved for members who have to be recommended by a U.S. diplomat before they are granted membership, are rare in Delhi where open-air swimming pools and places serving steak aren’t the norm.

On top of this, the Indian government in recent days banned the embassy from screening movies at the American center in the capital, until they obtain a proper license.

Normal diplomatic immunity from traffic rules will no longer apply to U.S. embassy diplomats, the official added. Local traffic police “have been asked to make no exception,” with the U.S. Embassy cars, the official said.

via India Hits U.S. Where it Hurts: In the Club – India Real Time – WSJ.

07/01/2014

The Curious, and Continuing, Appeal of Mark Twain in China – NYTimes.com

There are few authors regarded as quintessentially American as Mark Twain. With his preternatural gift for capturing vernacular expression and his roguish wit, Twain is still widely seen as the founder of the American voice. More than a century after his death, “The Adventures of Huckleberry Finn,” Twain’s most celebrated work, remains a mainstay of middle school and high school English classes. Ernest Hemingway famously declared it the book from which “all modern American literature comes.”

For decades, one of Mark Twain's satires of American politics was required reading in Chinese schools.

Twain’s writings have won him literary fame in China as well. Although “Huckleberry Finn,” with more than 90 different translations in Chinese, is a favorite, a large portion of Twain’s popularity in China derives in fact from another, much more obscure work: a short story called “Running for Governor.”

A humorous account of Twain’s fictional candidacy in the 1870 New York gubernatorial election, “Running for Governor” was taught alongside the writings by Mao Zedong and other prominent Chinese thinkers and literary figures in middle schools across China for more than 40 years. In this time, it was read by several generations and millions of Chinese, making Mark Twain one of the best-known foreign writers in China and “Running for Governor” one of his best-known works.

“Just about anyone who has had a middle-school education in China knows Mark Twain and ‘Running for Governor,’ ” Su Wenjing, a comparative literature professor at Fuzhou University, said in a telephone interview. “And everyone remembers the specific cultural moment and social critique represented in the story, this is certain.”

Published in the literary magazine Galaxy just after the New York gubernatorial election in 1870, “Running for Governor” is a satire that takes aim at what Twain saw as the hypocrisy of the American electoral process and the dog-eat-dog nature of party politics. In the brief yet imaginative sketch, Twain finds himself nominated to run for New York governor on an independent ticket, only to be overwhelmed by a slew of false ad hominem attacks from several unnamed accusers.

via The Curious, and Continuing, Appeal of Mark Twain in China – NYTimes.com.

Enhanced by Zemanta
07/01/2014

U.S. Ambassador Renews Ties to His Ancestral Village – NYTimes.com

A light drizzle was falling on the village of Jilong on the afternoon of Dec. 17 when a large black sport utility vehicle pulled up to a parking area next to the pond. Out of it stepped Gary Locke, the American ambassador, who this month is expected to leave his post and return to his hometown of Seattle. This was Mr. Locke’s fifth visit to his ancestral village in the Taishan region of Guangdong Province, and his third and possibly final one as ambassador to China.

The rain tapered off as Mr. Locke and embassy colleagues walked around the pond to the front of the village. With the clearing weather, the crowd of 50 or 60 people began swelling to more than 100, all of whom wanted to greet Mr. Locke. On hand to document the event for Modern Weekly, a Chinese news magazine, was Alan Chin, an American photojournalist who lives in Brooklyn. Alan was spending one month in Taishan for a personal book project. His ancestral village is also in Taishan, and he can speak the local language, which has given him far greater access to the people there than most foreign journalists are able to get.

Taishan is better known to most of the world by its Cantonese name, Toishan. For decades, it was the main origin point of the Chinese diaspora. Immigrants from Taishan settled in Chinatowns in the United States and other countries, mostly taking low-wage jobs in restaurants, laundromats and convenience stores. Their goal in their new country was to move to the suburbs, where their children would in theory become better educated and move on to college and professional careers. While building their lives far from China, the first-generation immigrants would also send remittances to their home villages.

via U.S. Ambassador Renews Ties to His Ancestral Village – NYTimes.com.

Enhanced by Zemanta
02/01/2014

China denounces U.S. for sending Uighur ‘terrorists’ to Slovakia | Reuters

China\’s Foreign Ministry criticized the United States on Thursday for sending the last three Uighur Chinese inmates at the Guantanamo Bay detention center to Slovakia, saying they were \”terrorists\” who posed a real security danger.

Yusef Abbas, Saidullah Khalik, and Hajiakbar Abdul Ghuper are the last of 22 Muslim minority Chinese nationals to be moved from the Guantanamo Bay military prison in Cuba, according to the Pentagon.

Slovakia\’s Interior Ministry confirmed that it would take in the three. Uighurs are a Turkic-speaking Muslim people from China\’s far western region of Xinjiang.

Chinese Foreign Ministry spokesman Qin Gang said the three were members of the separatist East Turkestan Islamic Movement, which Beijing labels a terror group.

\”They are genuine terrorists. They not only threaten China\’s security, they will threaten the security of the country that receives them,\” he told a daily news briefing.

\”China hopes that the relevant country … does not give asylum to terrorists, and sends them back to China as soon as possible.\”

Qin added that China did not appreciate a recent U.S. State Department call for Chinese security forces to exercise restraint following the latest outbreak of violence in Xinjiang, also blamed by Beijing on \”terrorists\”.

\”These remarks neglect the facts and are feeble,\” he said. \”We urge the United States to abandon their double standards when it comes to terrorism, and immediately stop saying one thing and doing another, to avoid sending the wrong message to violent terrorist forces.\”

via China denounces U.S. for sending Uighur ‘terrorists’ to Slovakia | Reuters.

31/12/2013

BBC News – View from China on the threats to world peace

Which country poses the biggest threat to world peace? Syria? Iran? North Korea?

Well, according to Gallup International\’s end of year survey of nearly 68,000 people in 65 countries, the US takes the top spot, followed by Pakistan and China.

The Chinese people we spoke to on the streets of Beijing weren\’t so sure China deserved to come in at number three.

via BBC News – View from China on the threats to world peace.

21/12/2013

Taiwan’s take on Indian diplomat incident in the US

Thanks to one of our fellow readers, Arjit,

Taiwanese video explaining this incident 

http://youtu.be/04FMiZ-l_60

Until now, I hadn’t appreciated that my fellow Chinese had this kind of sense of humour!

20/12/2013

Power and patriotism: Reaching for the Moon | The Economist

IT WAS, as a Chinese newspaper put it, “a new beginning for the Chinese dream”. On December 15th the imprint left by Neil Armstrong’s boot on the moon in 1969 found its near-equivalent in the minds of China’s media commentators: the “Chinese footprint” gouged in the lunar dust by Yutu, a Chinese rover, after its mother ship made the first soft landing on the moon by a spacecraft since 1976. President Xi Jinping, watching from ground control, clapped as the image appeared on the screen. For the promoter-in-chief of the Chinese dream it was a moment to cherish.

Mr Xi launched the “Chinese dream” slogan within days of taking power in November 2012. It has since swept the nation, appearing everywhere on billboards and propaganda posters. It featured twice in a resolution adopted by the Communist Party’s Central Committee at a plenum last month that marked the tightening of Mr Xi’s grip. He has said the Chinese dream includes a “dream of a strong nation” and a “dream of a strong army” and, especially since the plenum, he has been playing up the strongman image.

Some Chinese actions in the region have appeared more assertive, too. On December 5th a Chinese naval ship had a tense encounter with an American cruiser in the South China Sea. Both sides kept quiet about it until more than a week later when American officials revealed that their vessel, USS Cowpens, had been forced to manoeuvre to avoid hitting the Chinese ship, which had passed in front.

The incident occurred while the American cruiser was watching China’s new and only aircraft-carrier, the Liaoning, as it made its first foray into the area, which is riven with competing maritime claims. (The Liaoning features in a special issue of four “Chinese dream” postage stamps issued in September; two others show Chinese spacecraft and one a deep-sea submersible.) America lodged protests with China about the near-miss in international waters. A Chinese newspaper, however, accused the Cowpens of posing a threat to “China’s national security”. The encounter is likely to add to American concerns that China is trying to claim the sea, a vital trading route, as its backyard.

The maritime near-miss came after the announcement on November 23rd of an “Air-Defence Identification Zone” in the East China Sea that would require all aircraft flying through it to report to the Chinese authorities. This enraged Japan, which controls islands within the zone, and was criticised by other countries, including America and South Korea. On December 16th during a visit to Hanoi, America’s secretary of state, John Kerry, said the zone had increased the risk of a “dangerous miscalculation or an accident”. China’s enforcement of it seems to have been scant, but nationalists at home have hailed the move. On the same day as Mr Kerry spoke, China’s defence minister, Chang Wanquan, was in Jakarta, where he said that critics of the zone were causing “a hundred harms and no benefits”.

“Chinese dream” rhetoric has suffused China’s coverage of the moon landing by the Chang’e-3 spaceship, and the Yutu (Jade Rabbit) rover’s successful deployment from it, sporting the Chinese flag on its side. In a televised call to three Chinese astronauts orbiting Earth in June, Mr Xi had said: “The space dream is an important part of the dream of a strong nation.” Despite some mutterings on Chinese microblogs about the pointlessness of replicating feats performed so long ago by the Soviet Union and America, Mr Xi appears as fixated on the moon as his predecessors were. The army’s main mouthpiece, the People’s Liberation Army Daily, said it was hard to say exactly when a Chinese person would land on the moon, but that Chinese spacemen were “heading towards this goal with unprecedented speed”.

via Power and patriotism: Reaching for the Moon | The Economist.

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India