InfoAnda - Amid the global economic crisis, China rises

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Tablets and slates take center stage at trade show | 10 January 2010
UN says 2 dead in attack near its Iraq compound | 29 November 2008
Masses gather in India for Hindu festival | 13 January 2010

Lawmakers Look For Ways To Help Raise Money For Health Care Costs, Including Taxes On Alcohol, Cigarettes | 15 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : Amid the global economic crisis, China rises

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Amid the global economic crisis, China rises By JOE McDONALD,AP Business Writer - Thursday, October 8 Send IM Story Print BEIJING – The auto-parts maker Delphi Corp. is headquartered in Troy, Mich., in the heart of the region that made the United States the car capital of the world. It's a place where the phrase "buy American" is right at home. Now the 3,000 employees of Delphi's brake and suspension unit are getting a new boss. Battered by weak sales, Delphi is selling the unit to investors led by a company named Shougang Corp. Shougang is a steel maker owned by the government of China _ a government that calls itself communist but espouses a "socialist market economy" as it marches down globalization's road toward a capitalistic future. "Everyone's so desperate for cash that the Chinese show up with a checkbook and people say, `Yes, please'," says Arthur Kroeber, managing director of Dragonomics, a Beijing research firm. Explosive growth in China and India, coupled with Japan's clout as the world's No. 2 economy, has long been expected to shift economic power from the United States to Asia as this century progresses. The financial crisis and resulting Great Recession are accelerating that process. "China certainly comes out of the crisis stronger rather than weaker, and it's the opposite for the United States," says Stephen Roach, chairman of Morgan Stanley Asia. Some Americans have begun declaring this the "Chinese century" since it began nearly a decade ago. But while they and others fear the rise of China in international relations and the global economy, the reality is less dramatic: Beijing is still getting its own sprawling, chaotic house in order and is in no position to supplant the United States as global leader in the near future. At the same time, Beijing's power remains undefined: On an unfamiliar global stage, it is unsure what role it wants to play. For decades, China followed the dictum of its late supreme leader, Deng Xiaoping, to keep its head down abroad and focus on development at home. But earlier this decade, emboldened by success and mindful that their globalized economy needs stability, communist leaders started pressing for a place among the nations that manage world affairs. These days, Beijing is claiming a bigger voice in global economic forums such as the Group of 20 and is getting more deference in the United Nations, which could mean protection for friends such as Iran and Myanmar. Its military spending is the world's second-highest, behind that of the United States. "China is very likely to be the second-most-powerful country _ if it isn't now, then within a decade," says Kenneth Lieberthal, director of the Brookings Institution's John L. Thornton China Center in Washington. For the United States, it's a mixed blessing. The American and Chinese economies are intertwined, and the success of one depends on the health of the other. The United States is China's biggest trade partner. Americans bought Chinese goods worth $338 billion last year. Beijing is Washington's biggest creditor, with more than $800 billion invested in government debt. American automakers look to China's growing market to propel future sales. The financial crisis set back U.S. growth by years and will add trillions to the federal debt over the next decade. But China avoided the worst of the crisis. Its banks are healthy and, with the help of a 4 trillion yuan ($586 billion) stimulus, this year's economic growth is on track to top 8 percent. Already, demand from China can affect oil prices, and it is starting to influence what products are available worldwide. Western jobs are tied to Chinese spending, from British auto factories to Australian iron mines. Chinese money is financing development of oil fields from Venezuela to Central Asia. And China's role as Washington's lender-in-chief is altering the dynamic of the countries' relationship. At a meeting in London in April, President Barack Obama assured his Chinese counterpart, Hu Jintao, that Washington would cut its budget deficit _ a promise no American leader ever had to make to a Soviet leader. Washington's three-year-old strategic dialogue with Beijing has long been dominated by U.S. trade grievances. But the latest round in July, overshadowed by America's need for China to keep buying its debt, became a discussion between equals. China, a major destination for foreign investment, was starting to reverse the flow and invest abroad before the financial crisis. The crisis accelerated that and has led to a flurry of deals. In some cases, Chinese companies have stepped in to save Western jobs _ a notion unthinkable a decade ago. In Britain, China's Nanjing Automobile Group plans to reopen the Longbridge factory idled by the collapse of MG Rover to make limited-edition MGTF sports cars. And in Sweden, Beijing Automotive is joining a bid to buy Saab from General Motors, while Geely Automobile wants to acquire Ford's Volvo unit. "It's better to be part of the race than to watch it from the stands," says Paul Akerlund, a union representative at Saab. "We see advantages in gaining access to the Chinese market, which is the fastest-growing auto market in the world." In diplomacy, China is only starting to stake out positions on a wide array of global issues. It has used its influence in the United Nations to help allies such as Sri Lanka resist Western pressure on human rights. But Chinese leaders have yet to decide what overall political and military role they want abroad. "They clearly want to be a country of some gravitas both regionally and globally," Lieberthal says. "But there are a lot of aspects of the American approach _ too ready to interfere, to tell others what to do _ that the Chinese criticize as `hegemonic.'" Even as it is on track to overtake the American economy in size as early as 2030, China is burdened by enormous problems of corruption, poverty and pollution. Measured by income per person, China ranked 130th out of 210 economies in a World Bank survey last year, behind most of Latin America and parts of Africa. "China's foreign currency reserves are huge. But that does not mean we are a rich country," says Cho Tak Wong, chairman of Fuyao Group, which produces glass for Chinese and global automakers. "We are about 100 years behind the United States." China also has become a fast-growing market, and the financial crisis has only increased its importance to global companies. Chinese demand affects everything from global steel prices to the design of consumer goods. Cadillac created its 2008 CTS with China in mind, adding a deeper back seat for Chinese buyers driven by chauffeurs. Other countries' urgent need for cash has created opportunities for Beijing to make deals for resources to drive its booming economy. State companies have struck oil deals in Brazil, Venezuela, Russia and Africa and bought stakes in Australian and Canadian miners. Delphi turned to Chinese buyers for its remaining brake and suspension operations after it sought bankruptcy court protection four years ago. The buyers are Shougang and two partners _ the Beijing city government and an auto-parts maker, Tempo Group. Delphi says the $90 million sale should close in November, seven months after it was announced. Contrast that with 2005, when Chinese oil company CNOOC Ltd. tried to acquired Unocal Corp. CNOOC offered to pay more than a rival American bidder but withdrew after critics in Washington said the sale might threaten U.S. energy security. Still, the United States has many strengths that China lacks. The U.S. remains the world center for innovation in many areas and a magnet for smart, ambitious immigrants. "Europeans may hope that the U.S. has been knocked down a peg or two, but even if that is so, they could be in for a nasty surprise," says Howard Wheeldon, senior strategist at BGC Partners, a London brokerage. "Never underestimate the ability of the American people to rise to a challenge." ___ AP writers Robert Barr in London and Karl Ritter in Stockholm contributed to this report. (jrm) Recommend Send IM Story Print Related Articles RPT-DEALTALK-Glaxo eyes Dr Reddy's as Big Pharma hunts in India Reuters - Thursday, October 8 RPT-UPDATE 1-India cbank: raising HTM limit being examined Reuters - Thursday, October 8 Japan Hot Stocks-Elpida, Nikon, Crescendo, Sega Sammy, shippers Reuters - Thursday, October 8 JGBs gain after Treasuries rally, 30-yr sale eyed Reuters - Thursday, October 8 BRIEF-Moody's assigns first-time (P)B1 rating to Lumena Reuters - Thursday, October 8 News Search Top Stories British bank mulls huge rights issue: report Tiny device could speed breast cancer detection: study Tiny moon feeds largest ring around Saturn Aer Lingus to slash hundreds of jobs, cut pay Europe hits hole on rough road to economic recovery More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Gold price hits record high on report to ditch dollar Letterman apologizes to wife over affairs Tiny moon feeds largest ring around Saturn 'Masters of light' win Nobel Physics Prize Cracks emerge as IMF, World Bank work for recovery More Most Viewed » Oldest hominid skeleton sheds light on human origins More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 8 October 2009
Welcome to Hawaii Pacific Teleport
Welcome to Hawaii Pacific Teleport
Russian journalist's unsolved killing remembered
Egypt breaks ties with France's Louvre Museum
Japan's tech titans ready for 3D tussle
Turkey expects to seal deal with Armenia, doubts emerge
Turkey's Gul lobbies hostile France on EU bid
Nobel Peace prize seeks return to activist roots | International |
Iran says some countries offer it nuclear fuel
EU moves towards Microsoft truce
Hamas asks to delay reconciliation deal: Hamas source
Russia, Turkmenistan end gas dispute: Kremlin
Egyptian imam seeks $10 million in CIA renditions trial | International |
Saudi faces prison over TV sex revelations
Afghan vote subject to complex fraud audit
Ahmadinejad calls Geneva talks a 'step forward'
Somali pirates attack French military flagship
EU warns Czechs about costs of treaty delays
Annan says some Kenyan big men to face ICC | International |
French minister under fire for gay sex tourism | International |
Obama turning to Hollywood for health reform help
Dell plans first U.S. smartphone with AT&T: report | Technology |
Nearly 100 charged in US, Egypt in ID theft scheme
FCC chief lauds opening of wireless networks | Technology |
Statue of Helen Keller to be installed in Capitol
Djokovic cruises, Sharapova out at China Open
Orange County water main break creates sinkhole
Online ads: Big Brother or customer service? | Technology |
Ex-prep school dean charged with 4th sex assault
China: North Korea nuclear talks could resume
Google, authors asked to submit deal changes by November 9 | Technology |
Duncan: Chicago education plan not causing deaths
Labor nominee clears divided Senate panel
Khmer Rouge tribunal summons gov't party officials
Vietnam typhoon damage estimate hits $785 mln: UN
Man sentenced to 7 years in frozen chicken scam
Typhoon threatens Japan; troops aid Philippines
Slain Florida couple's daughter appears on `Oprah'
Tajikistan downgrades Russian language
Maldives to hold cabinet meeting underwater
Pakistan expects 'tough resistance' in Waziristan
Biden stumps for NJ's Corzine at union convention
Myanmar's Suu Kyi meets junta minister: official
Foreign rescue teams leave quake-hit Indonesia city
HSBC in advanced talks on buying RBS Asia assets: report
Jaguar reports loan from Indian bank
Honda switches Japan work to British plant
IMF faces headwinds in expanded role
Panasonic, rivals fined for price-fixing
ADB lends $500 mln to revive Indonesian economy
Pakistani stocks rise to year high; rupee firms
Two new movies lift lid on Brazil's dark side
South Korean plane delayed by bird on board
Naomi Watts tops list of actresses to invest in
The Manhattan Transfer -- 40 years and still singing
Artist wraps women's eyes around old heart of Paris
With Obamas, art changes on White House walls
Indonesia mulls declaring villages mass graves
Last-minute Prince decision to stage two Paris concerts Sunday
Aid reaches villagers deep in Indonesia quake zone
Jung's Red Book on display for first time
A list of nominees at Taiwan's Golden Horse Awards
Aid helps quake victims and Indonesia's sick
Kandahar NATO base: hockey, discos and funerals
Post-Saddam film headlines Abu Dhabi festival
Naomi Watts tops list of actresses to invest in | Entertainment |
The Manhattan Transfer -- 40 years and still singing | Entertainment |
Two new movies lift lid on Brazil's dark side | Entertainment |
Obama mulls troop boost request for Afghanistan
British bank mulls huge rights issue: report
US-TECH Summary
Blast outside Indian embassy in Kabul kills 12 | International |
UN attempts to defend neutrality in Afghanistan
Tiny device could speed breast cancer detection: study
Security Council to raise UN Gaza report next week
Mobile device makers want common earphone plugs
Pacific quakes stir panic but tsunamis tiny | International |
Typhoon Melor buffets Japan, disrupts industry | International |
U.N. council compromises over Gaza report debate
Pakistan wants U.S. 'trust, drones, market access | International |
FCC chief lauds wireless companies
Disappearance of Iranian scientist creates mystery
North Korea not near restoring nuclear plant: South | International |
Abbas faces more anger over UN war crimes report
Rights activists see double standard in Twitter arrest
Aer Lingus to slash hundreds of jobs, cut pay
US, Afghan troops seize tonnes of opium, kill 17 Taliban
Time 4 u 2 quit. Text messaging found to help smokers
Honduras talks start, police disperse protesters | International |
Dell closing US plant, cutting 900 jobs
Reformist website: Iran protester gets death sentence | International |
Google, authors to submit revised book deal Nov 9
Iraqi security forces strain budget, PM says
Taliban say control area after battle with U.S. | International |
Iran sees U.S. role in researcher's disappearance | International |
Saudi king in Damascus to mend fences with Assad
"Google phones" gaining market momentum
Hamas asks to delay reconciliation deal: Hamas source
YouTube pacts heighten copyright vigilance
Bing search gets vocal on new Samsung mobile phone
Bing search gets vocal on new Samsung mobile phone
Honduran leader offers to leave if Zelaya steps aside
'American Qur'an' blends US life, Quranic verses
Report: Global Muslim population hits 1.57 billion
Court papers: DNA at store matches elusive teen
Pakistan wants U.S. "trust", drones, market access
Pacific islanders flee as quakes prompt tsunami alert
Dell plans first U.S. smartphone with AT&T: source | Technology |
One dead as strong typhoon batters Japan
Time 4 u 2 quit. Text messaging found to help smokers | Technology |
China's Hu calls on police to protect Tiananmen
U.S. cool to Mugabe's overture for better ties
Rights activists see double standard in Twitter arrest | Technology |
Obama to make Asian debut tour next month
FCC chief lauds wireless companies | Technology |
U.S. Senate health bill costs pegged at $829 billion
Pakistan says US investment can fight extremism
Boxer plans hearing on toxic school drinking water
Pot legalization gains momentum in California
Small tsunami forms in Pacific, warnings canceled
Powerful 7.8 quake off Vanuatu, tsunami alert
Strong quakes near Vanuatu spark tsunami alert
Army unit's morale improving after 8 deaths
7.3 earthquake hits South Pacific, minutes after 7.8: USGS
Amid the global economic crisis, China rises
Korea Hot Stocks
Japan's current account surplus up 10.4 pct
Seoul shares up 0.4 pct; Tong Yang below IPO price
Fashion photographer Irving Penn dead at 92 | Entertainment |
Aerosmith guitarist goes solo as band flounders | Entertainment |
S.Korea exports recovery seen accelerating -survey
Guy Ritchie says he still loves retarded Madonna | Entertainment |
Data adds to S.Korea econ hopes as rate rise looms
Beastie Boys' Yauch hopeful he has beaten cancer | Entertainment |
S.Korea T-bonds edge up on U.S. lead; rate vote eyed
Australia Michael Jackson skit sparks racism calls | Entertainment |
Barbra Streisand tops U.S. pop chart for ninth time | Entertainment |
Seoul shares rise; Tong Yang Life below IPO price
British actress gets An Education in Oscar buzz | Entertainment |
Leonard Nimoy gets new sci-fi life on Fringe | Entertainment |
CBS orders full seasons of NCIS: LA, Good Wife | Entertainment |
Ellen Page to write comedy series for HBO | Entertainment |
A well-spoken Jude Law charges through 'Hamlet'
TV news channels explode in Europe but future unsure
Australia Michael Jackson skit sparks racism calls
No charges over Mel Gibson DUI report leaks
Guy Ritchie says he still loves "retarded" Madonna
Leonard Nimoy gets new sci-fi life on "Fringe"
Soprano Sills' estate sells for more than $500K
Fashion photographer Irving Penn dead at 92
British actress gets "An Education" in Oscar buzz
Celebrities to judge videos backing US health care reforms
Poland to sign EU's Lisbon treaty Sunday: ministry
Breakthrough hope for breast cancer treatment
Grim omens as U.S. envoy pursues Mideast relaunch | International |
Bank of England keeps interest rate at 0.5%
Car bomb kills 17 near Indian embassy in Kabul
At least 3 dead in Kabul blast: AFP photographer
US Solar Decathlon seeks best sun-powered homes
Italy's Berlusconi vows to stay, tension worrying | International |
Saudi Arabia, Syria urge unity government in Lebanon | International |
Nobel literature winner Mueller lost for words | International |
Turkey eyes talks by Azeri, Armenian leaders | International |
Japan new PM seeks to build trust with Beijing, Seoul | International |
Ex-cop pleads not guilty to posing as twin for sex
Landslide kills 6 Philippine health workers
Pakistani government defends US aid bill
Highest military court to hear Abu Ghraib appeal
Nadal edges Blake to reach China Open quarters
Red Cross aid appeal for Indonesia quake victims
Scientists race to prevent ash tree's extinction
New quakes, small tsunami panic Pacific islanders
Woman found in Fla. home under 8 feet of trash
Japan court acquits file-sharing software creator
Radio host seeks pardon for executed SC ancestors
Taiwan court orders hearing on Chen detention
'Nazi guard' trial to begin November 30: court
Roadside bomb wounds 10 soldiers in Thai south
AP NewsAlert
US encounters stumbling blocks in training Afghans
Sex crime charges shock Oregon wine country town
Obama to hold private meetings
WRAPUP 2-S.Korea ups lending controls, rate rise bets still on
Pakistani stocks, rupee end weaker on U.S. aid row
Pakistan's forex reserves rise to $14.75 bln
Oil prices rebound as stock markets surge
Taiwan dollar hits 1-yr high on funds, exporters
SKorea, EU to set final text of trade deal
S.Korea, EU to sign free trade deal next week
Australia bank loses tax avoidance case in NZ
Indian firms' earnings weak, better times ahead
Widow asks Toyota to act quickly on floor mats
Nobel literature winner Mueller lost for words | Entertainment |
Indonesia police say Sulawesi "blast" not bomb
Indonesia's Golkar party elects new head
Indonesian graft fighter charged with murder
Herta Mueller wins Nobel Literature Prize
Pusan festival opens with Korean political comedy
Aussie TV channel apologises for Jackson sketch
Thai villager beats back waves, but faces new threat
Van Gogh was also a wordsmith, his letters reveal
Nick Nolte's son, Brawley Nolte, arrested
Herta Mueller wins Nobel Literature Prize
US-ENTERTAINMENT Summary
Beastie Boys' Yauch "hopeful" he has beaten cancer
CBS orders full seasons of "NCIS: LA", "Good Wife"
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01