America Lost 2.7 Million Jobs to China in 10 Years

The Economic Policy Institute, a left-leaning economic think tank in Washington, D.C., estimates that America. lost 2.7 million jobs as a result of the U.S.-China trade deficit between 2001 and 2011, 2.1 million of them in manufacturing. Wages of American workers have also suffered due to the competition with cheap Chinese labor, EPI says. A typical two-earner household loses around $2,500 per year from this dynamic.

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Societe Generale: The China NPL issue gets worse

According to the China Banking Regulatory Commission (CBRC), total NPLs at China's commercial banks reached CNY 456.4bn at end-Q2, 4.2% qoq and up 11.9% (or CNY 48.6bn) from the trough in Q3 11. The NPL ratio was unchanged at 0.9%, due to a similar pace of loan growth. However, special-mention loans that are doubtful but still performing increased to CNY 1.5tn, while the total loan loss reserves set aside were CNY 1.3tn.

China’s manufacturing is contracting

China’s manufacturing may contract at a faster pace in August, a private survey showed, signaling more monetary and fiscal stimulus may be needed to secure a second-half rebound in economic growth.

The preliminary reading was 47.8 for a purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics, after July’s final 49.3 figure. If confirmed, it would be the weakest level since November and extend to 10 months the longest run of readings below the expansion-contraction dividing line of 50 in the index’s eight-year history.



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China New-Home Prices

China’s new-home prices rose in the largest number of cities in 14 months in July after interest- rate cuts and incentives for first-time buyers, complicating the government’s efforts to stimulate economic growth while curbing property speculation.


Bloomberg article

Japan arrests Chinese activists after landing on disputed isle

Japan to China: Get off my islands! 

`Kung Fu Panda 3' to be made in China

DreamWorks Animation Studios and various Chinese partners have announced that the next "Kung Fu Panda" movie will be developed in Shanghai.

Fresh South China Sea Tensions

China on its foreign ministry website:

“The US state department's so-called statement on the South China Sea issue disregards reality, confuses right and wrong, and sends a seriously wrong signal.”

China tells United States to "Shut Up"

(Reuters) - China's state-run media ramped up condemnation of the United States on Monday over tensions in the South China Sea, with the Communist Party's top newspaper telling Washington to "Shut up" and charging it with "fanning flames" of division in the region.

China with plans to get more ethical and confident

The Ministry of Commerce has started a one-year pilot program to promote a sound businessculture in 10 cities to help boost consumer confidence, officials said on Thursday.

"At present, a key impediment to domestic consumption growth is that businesses credibilityfalls beneath the public's expectations, and residents cannot buy goods at ease," Wen Zaixing,director of the ministry's department of market supervision, said at a news briefing.


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Chi Tong Kuok guilty of violating U.S. violate export laws

Chi Tong Kuok entered a plea Tuesday to conspiracy to violate U.S. export laws. Under the plea deal, he'll face no more than 46 months in prison.

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UNITED STATES v. CHI TONG KUOK