Straight Talk on China From Someone Who’s Been There For 15 years
May 17, 2012
Dan Collins from China money report talk about China and Gambling. Steve Wynn’s profits over 70% come from Macau.
Shanghai’s wealthiest residents revealed
May 14, 2012
By Xie Yu
China Daily/Asia News Network
Saturday, May 12, 2012
SHANGHAI – Business owners, real estate investors and professional investors are the wealthiest people in Shanghai, according to Shanghai Wealth Report 2012, published on Friday by Hurun Report and the Australia-based independent financial adviser Gao Fu Wealth Management.
There are 370,000 people with 6 million yuan (S$1.2 million) living in Shanghai today, or one-in-65 people in a city with a population of 23 million.
A Chinese Group Plans To Construct A 200 Acre “China City” In Michigan
May 10, 2012
A Chinese group known as “Sino-Michigan Properties LLC” has bought up 200 acres of land near the town of Milan, Michigan. Their plan is to construct a “China City” with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens. Essentially, it would be a little slice of communist China dropped right into the heartland of America. This “China City” would be located about 40 minutes from both Detroit and Toledo, and it would be marketed to Chinese business people that want to start businesses in the United States. Unfortunately, this is not just an isolated incident. In fact, Chinese companies have been buying up land and businesses all over the country in recent years. There has even been talk of establishing “special economic zones” inside the United States modeled after the Chinese city of Shenzhen. It was inevitable that the Chinese were going to do something with the trillions of dollars that they have made flooding our shores with cheap products. Now they are rapidly buying up pieces of America, and many of our politicians are welcoming them with open arms.
Fed clears China’s first US bank takeover
By Veronica Smith (AFP) – 20 hours ago
WASHINGTON — The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.
Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.
10-yuan sex workers in China
May 7, 2012
China is said to have over 4 million prostitutes and the number is rising. Most of these prostitutes are impoverished woman from poor rural areas who have minimum education and oftentimes suffer from domestic violence. Without proper skills and desperately in need of money, these women look to China’s more developed cities for opportunities and take up the only job they can do – sell sex. And the saddest thing is that not all prostitutes are equal. According to Sex Work in China, there are 7 hierarchies of sex workers in China:
Chongqing rolls on
Some Chinese economists wonder how long Chongqing can continue spending as much as it does without piling up crippling debts. The planning exhibition showcases Chongqing’s “ten big cultural facilities” (begun before the arrival of Mr Bo): lavish buildings of Pyongyang-style pomposity, including a “grand theatre” second only in size to Beijing’s. These have cost Chongqing a total of more than $1.5 billion so far. That is small beer, though, compared with the $7.6 billion spent by Mr Bo on a “Green Chongqing” campaign that has included mass tree-planting, in which some trees have ended up dead, locals say, because of the unsuitable climate.
The Startling Plight of China’s Leftover Ladies
May 5, 2012
China’s men far outnumber women. So why is it so hard to find a good husband?