Billionaires, hackers, the Chinese and The New York Times

Chinese hackers took notice to stories in 2012 about communist billionaires written about by newspapers like The New York Times and blogs like ThinkBillions.

The hack attacks began after the newspaper published "Billions in Hidden Riches For Family of Chinese Leader" on October 25, 2012, identifying the significant accumulated wealth of the family of Chinese prime minster Wen Jiabao.

Symantec, the software security company, has gone into corporate-pr damage-control mode over failure to block hackers on Times corporate pc's.

Stay tune for future hack attack updates.

Caterpillar's financial sink hole in China

"Investors should always be concerned when a company has to write off [more than 80%] of the price paid for an asset." ---Ann Duignan, J.P. Morgan Chase & Co.


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Japan Detains Chinese Fishing Boat

via Reuters:

The boat, registered in Zhejiang province in eastern China, was found in waters near Goto, in Nagasaki prefecture in southern Japan, Xinhua said. The captain was being taken ashore following questioning.

In recent weeks Japanese military planes have scrambled numerous times against Chinese planes approaching airspace over the islands. Chinese planes have also shadowed Japanese planes elsewhere over the East China Sea.

The Chinese fishing fleet are ranging further and further offshore as fishing stocks near the Chinese mainland are depleted. Their presence in Japanese territory and in disputed waters is contributing to friction between the two Asian economic powerhouses, whose maritime borders are not defined.

In a similar case in late December, Japanese authorities stopped a fishing boat registered in the Chinese coastal province of Fujian, and detained its captain.

Chinese man keeps himself alive for 13 years with HOMEMADE dialysis machine

•Hu Songwen built his machine after he could no longer afford hospital bills
•He said two of his friends had died after building and using similar machines
•Offered Government medical aid after story went national, but says nearest hospital is too far away and too crowded


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Competing with the Chinese Labor Market

China: Not bullish on US bonds or debt

“In line with the future US economic recovery, the appeal of US debt is weakening. From a long-term perspective, it is not a good investment target. For this reason, CIC’s method is to buy relatively less US debt with hopes of allocating more to stocks and other assets,” - Lou Jiwei, chairman of sovereign wealth fund manager China Investment Corporation (CIC)

China calls record pollution: smog

Li Keqiang, set to become China’s next premier, called for the nation’s citizens to have patience as authorities work to reduce pollution in the world’s second- biggest economy.

“Production, construction, consumption cannot come at the price of hurting the environment,” Li said in comments broadcast by state radio yesterday. “The current situation wasn’t created in one or two days, it accumulated over a long time. Solving this problem will also be a long-term process.”



Bloomberg article

Yum Brands apologizes for chicken that is not so yummy

The Yum Brands' chief in China has apologized to KFC customers after the new media called it to task for failing to address problems quickly after major concerns were raised about antibiotics found in its chicken products.

China: The New Huge Net Importer of Rice

As reported in the WSJ: "China's demand for foreign rice is soaring, turning the country into a net importer of the grain and prompting analysts to take a closer look at the nation's stockpiles."

Chinese Money Flies the Friendly Skies

It is being found by airport agents in "wallets, purses and suitcases at airports across North America." What is? Cash. Good old cold hard cash. Call it diversified financial planning by some of the richer Chinese able to do so.

article: Chinese Fly Cash West

Chinese man marries, gets $150 million

Chinese businessman Wu Duanbiao was so happy that his daughter got married this weekend, he gave her and her new husband $150 million as a sign of his best wishes.

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