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HONG KONG — Even for China’s scandal-numbed diners, news that the lamb simmering in the pot may actually be rat took the country’s endless outrages about food hazards into a new realm of disgust. In an announcement intended to show that the government is serious about improving food safety, the Ministry of Public Security said over the Internet on Thursday that the police had caught traders in eastern China who bought [...] Hong Kong (CNN) – A 13-year-old boy is in intensive care in Beijing after two adults assaulted him by releasing compressed air into his body using a mechanical pump at an automobile repair shop. Chinese media reported that the boy, Du Chuanwang, who lives in Shandong Province on China’s east coast, suffered from dozens of puncture wounds in his intestines and multiple organ failure. The boy helped out at the auto repair shop, [...] From NYT: BOSTON — As the Chinese economy cools, some big U.S. and European companies are losing what had been one of their surest growth bets. Caterpillar, 3M, United Technologies and ABB are among the manufacturers that have reported weak performances in China in the first quarter as economic growth has slowed nearly to a three-year low. That is making investors nervous, though some Western chief executives predict a return to rapid growth [...] By Chris Oliver, MarketWatch Reuters A circuit board production line in Suining, China. HONG KONG (MarketWatch) — Chinese industrial companies reported weaker profits in the first two months of the year — the first such broad earnings drop since 2009 — stoking fresh concerns the economy hit a soft patch after rebounding in the final quarter of last year. Data released by the National Bureau of Statistics on Tuesday showed the [...] From FT: China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank. China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three-quarters of the new inflow invested abroad in non-US [...] Australia’s economic recovery could also come to an abrupt halt as many developed countries plunge into massive sovereign debt after bailing out the banksters and propping up with funny quantitative easing money hot off the presses. Also China tightens amidst equity and housing real estate bubbles in China, Hong Kong and Australia fuelled by speculators and banksters at it again. Tonight on UK BBC national TV, the UK Chancellor, Alistair Darling [...] |
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