From the monthly archives:
Huang Guangyu, China’s richest man with an estimatednet worth of $6 billion, has been detained by police amid allegations of securities fraud.
Guangyu built from scratch one of China’s largestcompanies, home appliance retailer Gome Electrical Appliances. Gome stores are all over China and prospered during the Chinese real estate boom.
Trading of Hong Kong-listed Gome shares have [...]
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I am sad to say that the Chinese are doing a better job of goosing their economy than we are. Not only is China increasing spending, it is also lowering income taxes.
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China’s Yi Jianlian scored 27 points topower the New Jersey Nets to a 112-95 win over the lowly Los Angeles Clippers on Saturday.
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I and many others have wrote about China’s massive $586billion stimulus plan. That is a ton of money but just the tip of the iceberg.
In addition to the $586 billon being spent by the central government, the Chinese provinces are spending another $1.5trillion dollars.
We’re talking about $2 trillion dollars!
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The economy in Singapore is getting worse.
Singapore officials lowered their 2008expectations for the fourth time this year and warned that its economy would shrink by 1% in 2009.
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The Chinese Minister of Human Resources and Social Security warned that the job outlook is “grim” and is worried that the globalfinancial crisis could make the job market even worse.
Riots over factory closures and job losses are becoming more common.
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Here is a novel way to goose an economy.
Taiwan will issue coupons worth $3,600 Taiwan dollars (US$109) to all Taiwanese on January 18, a week before the start of the ChineseNew Year holidays.
The coupons can be used for everything from clothes to hotels to restaurants to taxis.
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There has been very little good financial news hitting the airwaves lately but one company is enjoying very strong sales to China — helicopter makerSikorsky.
“Sikorsky Aircraft has been busy in China for the pastfew years,” said Scott Pierce, Vice President, Sikorsky Asia. “In early 2007, we delivered the first S-92(R) helicopter to China, and soon [...]
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I don’t think this any other economic significance, but I thought it was interesting to see the Seattle Mariners hireDonWakamatsu, the first ever Asian MLB baseball manager.
Plus, I was born in a small town named Aizu Wakamatsu.
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Singapore and Japan are officially in a recession. It looks like Taiwan will join thelist.
The Taiwanese economy shrunk by 1.02% in Q3,the first decline since 2003.
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