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arden dzx

A Reflection of Power | Newsweek International | Newsweek.com - 0 views

shared by arden dzx on 03 Jul 08 - Cached
  • When you moved into Taiwan's media market, some people saw it as a vote of no confidence against Hong Kong.You're suggesting it was an insurance policy? That was the intention. I couldn't go to the United States and say: "Can you protect me?" Nobody would care. But I knew Beijing was thinking very much about Taiwan, and that they don't want bad press there. So we built the Taiwan business as leverage. If they do anything to us, our Taiwanese readers will know what happened. And Beijing knows that [should they move against us] we will do everything we can to make them pay on Taiwan.
  • Some experts argue that China does not intend to Westernize or liberalize, but only to modernize. Do you think people in China understand what democracy is and want it?Not at this moment. But anyone who would differentiate between Westernization and modernization is just talking rubbish. Take out the western culture and what else is modern? Nothing. The technology is Western, the trendy culture is Western, all this modernization is Westernization. China is prosperous today because it deals and interacts with the West. No, democracy isn't on normal people's radars yet. China will be open to it only when the economic cycle turns down. And when that happens, China will be in chaos. How so? In other countries, when there is a recession, you have churches, temples, charities, NGOs, civic organizations, unions and other institutions reaching out to help each other. They are shock absorbers. In China, you don't have any of this. Organizations that are not governmental are not allowed. In China, you have two pillars: the market and the government. If the market fails, the government will be dragged down because there is nothing in the middle.
  • How so? In other countries, when there is a recession, you have churches, temples, charities, NGOs, civic organizations, unions and other institutions reaching out to help each other. They are shock absorbers. In China, you don't have any of this. Organizations that are not governmental are not allowed. In China, you have two pillars: the market and the government. If the market fails, the government will be dragged down because there is nothing in the middle.
evawoo

RGE - Adapting to the state's growing role in global equity markets - 0 views

  • Central bank purchases of traditional reserve assets still dwarf sovereign wealth fund purchases of riskier assets -- as well as central bank purchases of equities. But over time, it is reasonable to expect that many over-reserved sovereigns will diversify their portfolios. The recent decision to increase the share of the CIC's initial $205-210 billion in capital that it can invest abroad and SAFE's increased willingness to purchase equities as well as bonds are examples.
  • A far more challenging issue is how the huge increase in financial assets managed by potentially non-economic agents will affect the efficiency of the global capital market and the allocation of risk and resources. ….
  • And then there is China. China enormous foreign asset growth in the first quarter implies that it might be able to add more to its reserves and sovereign fund in 2008 than all the oil-exporters combined even if oil stays at its current levels.
  • ...6 more annotations...
  • China consequently has an enormous latent capacity to alter the composition of global capital flows by changing the composition of its portfolio:
  • The offsetting risk is that state owners of assets will in some sense abuse their ownership rights, and use their rights to promote “state” objectives.
  • Qatar’s advertising in Forbes says as much: the QIA's evaluation criteria include “added value to the State of Qatar" such as "economic synergies or benefits for Qatar and its people."  Mubadala has made a string of investments (Ferrari, the “National”) designed to elevate the profile of Abu Dhabi.
  • China’s fund, like Singapore’s fund, reports directly to the top levels of China’s state. It has yet to build up enough of a track record to show how it will be used. However, China’s management of its state stakes in domestic industries suggests the need for some caution. One example: Three of China's four large state commercial banks have been listed, but they still aren’t managed in a fully commercial manner.
  • The Peterson Institute’s Ted Truman recently updated his “sovereign wealth fund scorecard.” His impressive and detailed work is worth reading carefully. Truman’s latest scorecard illustrates how the practices of many large existing sovereign funds – particularly those originating in non-democratic countries – differ from the practices of US state pension funds as well as Norway's government fund.
  • Kjaer’s framing implicitly raises a third issue, one that I don’t think has gotten enough attention. The surge in sovereign investment in safe government bonds that accompanied the surge in global reserve growth likely contributed to a “bond market bubble” – one that pushed down the real yields on government bonds in both the US. That contributed to a host of additional market distortions, as private investors scrambled to find higher returns.
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    中国外储投资对于世界资本市场的终极影响
evawoo

Should the Fed Buy Securities Outright? - Finance Blog - Felix Salmon - Market Movers -... - 0 views

  • Suppose that the value of the asset the Fed holds falls to zero after the trade. The trade was permanent, so there's no margin call or anything like that - the Fed owns the asset and it is worth nothing. Then, in the end, it is no different than the Fed simply printing that same amount of money and giving it to the banks as new reserves, it is an increase in the money supply.
  • If the central bank, or some other government agency, were to act as Market Maker of Last Resort and buy the impaired asset at a price no greater than its fair value but higher than what it would fetch in the free but unfair illiquid market, such a purchase would not be a bail-out. It would also be welfare-increasing...
  • My feeling is that it's not going to happen, mainly for political reasons. In this particular crisis, the distressed assets the Fed would end up buying would almost certainly be mortgage-backed bonds. But buying up mortgage-backed bonds looks very much like giving money to big banks and investors instead of giving it straight to struggling homeowners: the optics are simply terrible. If the collapse of Bear Stearns is seen as a bailout, this would be much worse. It might be a good idea, but its time
  •  
    看看美国的救市讨论
isaac Mao

Internet Helps Liberate, Create Music in China : NPR Music - 0 views

shared by isaac Mao on 26 Jun 08 - Cached
  • When America was rocking to the Beatles and Jimi Hendrix, the airwaves in China were dominated by songs with lyrics from Chairman Mao's Little Red Book.
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    Internet Helps Liberate, Create Music in China By Laura Sydell Listen Now [7 min 48 sec] add to playlist Chinese electronic musician B6 B6, a Shanghai-based electronic musician, explored Western music first on pirated CDs and then at music-sharing sites on the Web. Now he collaborates online with other performers. B6's studio equipment -- a jumble of keyboards, etc. Enlarge B6 works out of a home studio in a Shanghai high-rise. Above, some of his musical arsenal. Discover China's Indie Music Neocha Web site image Neocha.com With Sean Leow, B6 co-founded the music-sharing site Neocha.com, an ad-supported service that lets listeners discover music and pays musicians a share of advertising revenue. * Neocha.com * Neocha's "Next" Player Morning Edition, June 25, 2008 - Second in a three-part series. When America was rocking to the Beatles and Jimi Hendrix, the airwaves in China were dominated by songs with lyrics from Chairman Mao's Little Red Book. It's more open today, but the Communist government still bans anything that mentions sex or violence, or that has "low class humor" - which bans an awful lot of American music. So the music most likely to come pouring out of the radio in China is syrupy ballads usually produced in Hong Kong or Taiwan. But Chinese musicians and fans are finding a whole new universe of sound on the Internet. And it's helping to create and nourish a new generation of independent artists in China. From Black-Market Discs to Napster and Beyond One of them is B6, a 27-year-old electronic musician. He lives and works on the first floor of a high-rise on the outskirts of Shanghai. He's part of China's burgeoning electronic-music scene. Growing up, the CDs B6 listened to were mostly sold on the black market. "When I was in high school, I used to listen to rock 'n' roll music," he says. "At that time, it was very difficult to get foreign or Western music." And then, in 1999, the Internet came to China - and B6 and his fr
feng37

Stephen Fry » Blog Archive » The BBC and the future of broadcasting - 0 views

shared by feng37 on 19 Jun 08 - Cached
  • Here was a report that really delivered a blow to the BBC’s solar plexus. Peacock began to foresee the possibility of digital diversity on an unimagined scale, it also put forward the ideas of a consumer-led, market driven broadcasting world, one in which the very principles of a licence fee funded public service broadcasting system would naturally be seen as obsolete. This suited the tenor of the times: deregulation, privatisation and a rigorous dismantling of the frontiers of the state – it was happening in the city and in industry and the utilities, why not broadcasting? The BBC, long seen as harbouring tendencies and personnel that were socialistic at best, Marxist at worst, was suddenly no longer a secure and unassailable acropolis. It was no secret that Norman Tebbit and some of the more fundamentalist free-marketeers and red-baiters of the administration would have been very happy indeed to dismantle the entire structure of the BBC. Peacock prevaricated and the charter appeared safe, but at a great price. Nothing would ever be the same again, the old certainties were dead and the harsh realities of capitalism arrived at Wood Lane and Portland Place. Whole departments were razed and working practices abolished, and something called an internal market was put in place. Radio Times was outsourced, the permanent make-up staff went, engineers, editors and set-designers were suddenly out of a job. Twenty-five percent of the BBC’s output was commanded to be produced from outside sources and a whole new independent sector was born. Companies like Hat Trick and Talk Back achieved almost instant success.
feng37

Chinese Social Networks 'Virtually' Out-Earn Facebook And MySpace: A Market Analysis - 0 views

  • What can Facebook and Western social networks learn, if anything? If monetizing a social network is so easy, then why hasn’t Facebook opened up its payment API to third party developers? While the aggressive and intrusive hyper-viral aspects of the apps in China may not be replicable in a Western Market, the problems for creating a more viable business model run deeper. Western companies cannot innovate in the same way due to institutional problems stemming from their own struggle for an identity and revenue. Facebook has just recently announced a “credits” system, but it seems to miss the mark. The new system demonstrates little incentive for users to shell over money, and does not speak to the same need as paying for a social application that all your friends are already on and talking about. Facebook may be afraid to become a marketplace for applications, because they are reluctant to be labeled as a social gaming network or a social app store. Instead, they are a self-styled guru of dynamic human interaction. If they opened up their platform to become an apps store, their major revenue streams would put them into a pigeonhole, calling their $15 billion valuation into question. They obviously don’t want to be labeled as a “gaming platform” either, and don’t want to fully depend on selling digital trinkets. Like during the American gold rush in 1849, where Chinese merchants prospered while most prospectors went bust in search of striking gold, it appears that building viable, scalable businesses for Social Networking sites may still be an ancient Chinese secret for Westerners.
feng37

Valentine's Day - Wikipedia, the free encyclopedia - 0 views

  • In Saudi Arabia in 2008, religious police banned the sale of all Valentine's Day items, telling shop workers to remove any red items, as the day is considered an un-Islamic holiday. This ban created a black market of roses and wrapping paper.[36]
feng37

Naomi Klein: The Olympics: Unveiling Police State 2.0 - 0 views

  • The games have been billed as China's "coming out party" to the world. They are far more significant than that. These Olympics are the coming out party for a disturbingly efficient way of organizing society, one that China has perfected over the past three decades, and is finally ready to show off. It is a potent hybrid of the most powerful political tools of authoritarianism communism -- central planning, merciless repression, constant surveillance -- harnessed to advance the goals of global capitalism. Some call it "authoritarian capitalism," others "market Stalinism," personally I prefer "McCommunism."
  • By next year, the Chinese internal security market is set to be worth $33-billion. Several of the larger Chinese players in the field have recently taken their stocks public on U.S. exchanges, hoping to cash in the fact that, in volatile times, security and defense stocks are seen as the safe bets. China Information Security Technology, for instance, is now listed on the NASDAQ and China Security and Surveillance is on the NYSE. A small clique of U.S. hedge funds has been floating these ventures, investing more than $150-million in the past two years. The returns have been striking. Between October 2006 and October 2007, China Security and Surveillance's stock went up 306 percent.
  • Ever since the 1989 Tiananmen Square Massacre, U.S. companies have been barred from selling police equipment and technology to China, since lawmakers feared it would be directed, once again, at peaceful demonstrators. That law has been completely disregarded in the lead up to the Olympics, when, in the name of safety for athletes and VIPs (including George W. Bush), no new toy has been denied the Chinese state.
blt-fqx

傅德志爆出虎照幕后黑手 各地假新闻均源自一人-搜狐新闻 - 0 views

  • “假虎照幕后黑手是全莉”

      时报讯 (记者 薛冰 实习生 林珍 通讯员 方玮 乔利民) 昨日,中科院研究员傅德志在广州多所高校相继作报告揭穿陕西“周老虎”和“全老虎”造假全过程。

    有学生当场提出疑问:如果您讲解得这么有道理,证据这么充分,那为什么不提交给国家相关部门来处理呢?傅德志称已经在1个月前将报告提交国家有关部门,具体结果要等相关部门作出评定。“毕竟我只是植物学家,不是侦探。”傅德志说。

      华南虎事件

      “全莉一手导演整个事件”

      昨日,中科院研究员傅德志先后到中山大学、华南农业大学等多所高校为师生们作报告,报告中无一例外地揭露“华南虎”骗局事件经过。这个曾经以脑袋担保“周老虎”事件虎照是假的,被称为“打虎派首领”的科学家尖锐地指出:“中国境内相继出现的多个假华南虎事件都是全莉一手导演的!”此语一出,轰动全场。

      在华南农业大学的报告会上,傅德志指出:“陕西的‘周老虎’、湖南的‘吴老虎’、江西的‘陈老虎’以及浙江出现的假老虎事件都与全莉息息相关。”

      “为什么这样说?‘周老虎’事件后,她曾经将整件事情介绍给世界权威杂志发表,这本身就证明了跟此事件有关。”傅德志说。“稍后我从她的博客上找到了一张‘华南虎野生放归图’,这是她启动的一个华南虎野化放归项目规划图,而这张规划图与我勾画的一张‘华南虎事件泛滥图’十分相似,图上标注的地点与全莉的放归图地点基本吻合!”

      当记者质疑“为何说是全莉一手导演该事件?”时,傅德志解释:“因为她启动的这个华南虎野化放归项目,每个地区的预算启动经费就高达3000万。3000万的启动经费是很诱人的,全国各地都在争这个项目,所以出现造假也不奇怪。全莉的导演,最终导致一些地方的政府部门从利益出发,在权利上予以把控,最终不惜造假,导致假华南虎事件层出不穷。”

      老虎拍摄者

      “应该是保护站站长李坪”

      昨日的报告中, “周老虎”事件始末依然是傅德志披露的重头戏。他层层剖析“周老虎”事件背后的阴谋的历程:“‘周老虎’的拍摄者到底是谁?反正不是周正龙!我认为是陕西镇坪镇野生动物保护站站长李坪拍的!”

      傅德志指出,陕西镇坪最早拍摄“周老虎”照片时,应该是为了还原当地有虎的历史镜头,所以照片应该是镇坪林业局野生动物保护站的工作人员拍摄的。

      傅德志说,去年10月,有媒体刊登出来一张黑白的还原现场照片,是当时拍摄“周老虎”的场景。照片里的两人是局长覃大鹏和助手李蹇,拍摄者应该是李坪。还原历史的照片被关克看到之后,认为足以以假乱真,就编写了台词,导演出陕西农民发现野生华南虎这出“假戏真做”的闹剧。傅德志还毫不忌讳地将矛头指向政府官员:“周是连照相机都拿反、照片都不会拍的农民,怎么可能拍出质量这么好的照片。”

      说说“虎事”

      “一不小心成了公众人物”

      “如果您讲解得这么有道理,证据这么充分,那为什么不提交给国家相关部门来处理呢?”面对媒体的采访,傅德志表示:“作为科学家,我只想提出事实,其它的让公众和媒体去评论,我现在只想安心做我的学问!”

      回顾几个月来的“打虎”经历,傅德志称自己是偶然被卷入这场风波的,而不是想借此炒作自己。他认为作为一名植物学家,一名科学家,应该做到有板有眼、有始有终,既然已经站出来指出“周老虎”是假的,那么就要把这场打假战争进行到底。

      在报告中,傅德志用图文并茂的方式给学生和老师讲解“虎叶”比例失调的问题。为了证实自己的看法,他还特意用以前的老虎照片对照“周老虎”的照片,在真老虎的对照下,“周老虎”的体积显得非常小。最后,傅德志表示自己是一不小心便成了公众人物,不可避免地卷进了事件中。信息时报

feng37

As world trade falters, workers head home - Washington Post- msnbc.com - 0 views

shared by feng37 on 05 Mar 09 - No Cached
  • Singapore's exports collapsed by a stunning 35 percent in January, mirroring much of the rest of Asia. The export boom here was tied to credit-fueled buying sprees in the United States that stopped abruptly and may take years to return, if ever. Manufacturers are grasping for a Plan B. But none of the options -- mining domestic markets, or trying to tap consumers in still-growing China and India -- offers a truly viable solution.
  • "The collapse of globalization . . . is absolutely possible," said Jeffrey Sachs, a noted American economist. "It happened in the 20th century in the wake of World War I and the Great Depression, and could happen again. Nationalism is rising and our political systems are inward looking, the more so in times of crisis."
  • Economists from Credit Suisse predict an exodus of 200,000 foreigners -- or one in every 15 workers here -- by the end of 2010.
Jean Chen

[商界纵横] 主火炬手李宁的商业胜利-华尔街日报 - 0 views

  • 当这位1984年洛杉矶奥运会六枚奖牌获得者升到高空,沿着国家体育场鸟巢屋顶飞奔数分钟最后点燃火炬时,他似乎无视地心引力的存在──更别提奥运赞助商了。
  • 即便是在奥运开幕式那一幕传递给世人之前,李宁公司在中国消费者对企业的奥运认知度方面上也并未落后阿迪达斯太多。事实上,胜三公司最近的一项调查显示,45%的中国消费者误将李宁认为是奥运赞助商。
Jean Chen

打破定律-评耐克雅典奥运广告之刘翔篇 - 0 views

  • “打破定律,你能比你快”这句广告语深入人心,甚至成了教练孙海平训练刘翔和刘翔自我激励的口号,赛前赛后被大量媒体甚至官员引用,耐克品牌的“势能”也自然被推到一个理想高地。
  • 广告的定义超越了单纯的民族主义思想,却不流俗于简单的国际主义,它是民族主义向国际主义的勇敢跨越,这似乎迎合了中国人民的感情,因为中国正在经历“在全世界和平崛起”。毫无疑问,刘翔广告代表了耐克在中国本土市场营销传播的突破,打破了李宁在本土的的民族情感堡垒和阿迪达斯在国际市场的夹击。
  • “定律1.亚洲人肌肉爆发力不够?”
  • ...3 more annotations...
  • “定律3.亚洲人缺乏必胜的气势?”
  • “定律2.亚洲人成不了世界短跑飞人?”
  • “定律是用来被打破的 ”
Kenyth Zeng

A most auspicious day! « Flickr Blog - 0 views

  •  
    GFWed
feng37

Cisco Leak: 'Great Firewall' of China was a Chance to Sell More Routers | Threat Level ... - 0 views

  • Under the category "Cisco Opportunities," the document provides bullet point suggestions for how it might service China's censorship system called the "Golden Shield", and better known in the West as the Great Firewall of China. China's "Golden Shield" project was one of several government-run commercial opportunities for Cisco in 2002. Credit: Cisco The document is the first evidence that the networking giant has marketed its routers to China specifically as a tool of repression.
feng37

China's All-Seeing Eye : Rolling Stone - 0 views

shared by feng37 on 17 May 08 - Cached
  • The Fourth Amendment prohibition against illegal search and seizure made it into the U.S. Constitution precisely because its drafters understood that the power to snoop is addictive. Even if we happen to trust in the good intentions of the snoopers, the nature of any government can change rapidly — which is why the Constitution places limits on the tools available to any regime. But the drafters could never have imagined the commercial pressures at play today. The global homeland-security business is now worth an estimated $200 billion — more than Hollywood and the music industry combined. Any sector of that size inevitably takes on its own momentum. New markets must be found — which, in the Big Brother business, means an endless procession of new enemies and new emergencies: crime, immigration, terrorism.
  • here is a large and powerful country that, when it comes to human rights and democracy, is so much worse than Bush's America. But during my time in Shenzhen, China's youngest and most modern city, I often have the feeling that I am witnessing not some rogue police state but a global middle ground, the place where more and more countries are converging. China is becoming more like us in very visible ways (Starbucks, Hooters, cellphones that are cooler than ours), and we are becoming more like China in less visible ones (torture, warrantless wiretapping, indefinite detention, though not nearly on the Chinese scale).
evawoo

Capital - WSJ.com - 0 views

  • The past 10 days will be remembered as the time the U.S. government discarded a half-century of rules to save American financial capitalism from collapse.
  • In ordinary times, a capitalist economy lets prices -- such as those of homes, mortgage-backed securities and stocks -- fall to the point where the big-bucks crowd rushes in, hoping to make a killing. But if the big money remains on the sidelines, unpersuaded that a bottom is near, the wait for bargain hunters to take the plunge could be very long and very painful.
  • But something big just happened. It happened without an explicit vote by Congress. And, though the Treasury hasn't cut any checks for housing or Wall Street rescues, billions of dollars of taxpayer money were put at risk. A Republican administration, not eager to be viewed as the second coming of the Hoover administration, showed it no longer believes the market can sort out the mess.
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    Ten Days That Changed Capitalism----对于美联储和财政部救市的争议,资本主义已经改变?
evawoo

Heard on the Street - WSJ.com - 0 views

  • Wealthy clients of Sotheby's appear to be falling behind on their bills -- and that could signal trouble for the auction house and the art market.
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    华尔街倒霉 艺术市场也难独善其身
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