Today's Xinhua article brings to our attention that China's forex reserves have ballooned to $1.76 trillion as of the end of April. To put this number in perspective: it is about 15% of the US annual economic output. Before people get carried away, allow me to explain what the forex reserves is not: it is definitely not the government's money, so there is no sense in talking … [Read more...] about China's forex reserves larger than those of G7 combined
News
Grace Wang wins "Chinese Youth Human Rights Award"
Grace Wang Qianyuan has apparently been awarded the 8th annual Chinese Youth Human Rights Award. This award is granted by a select group of dissidents (veterans of Tiananmen in 1989), and includes with it a "minimum $1000 cash award". Her acceptance letter firmly plants her in the corner of the dissidents, and dashes the insistence of some that she was a "moderate" voice. … [Read more...] about Grace Wang wins "Chinese Youth Human Rights Award"
Lesson on physics: a stone sinks deeper if it keeps on digging
Alright, I have to concede, after a few days of reflection, that I might have been a bit too harsh on Sharon Stone. Some of the commentators, both on this blog and else where, have suggested/recommended leaving her alone for it was not worth the ink (or the LCD backlight decay) to argue over her remarks. I see the wisdom of such perspectives now. All I really should have … [Read more...] about Lesson on physics: a stone sinks deeper if it keeps on digging
China phases out thin plastic bags
In the deluge of earthquake news, something like this that affects daily life in China has managed to slip under the radar. This article describes a situation that people in China are already aware of. At least in Shanghai, it's said that an extra charge will be imposed to get your goods in those familiar plastic grocery bags. Details: The Chinese government is set to ban the … [Read more...] about China phases out thin plastic bags
Shenzhen aims for major political reforms
Many in the West appear unaware that the Chinese political system is reforming itself... (it might be more accurate to say many in the West see the political system in China as old Communists waving their hands and issuing imperial edicts.) The truth is, although the pace of this reform is painfully slow compared to economic reforms, it is happening. One of the more … [Read more...] about Shenzhen aims for major political reforms