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China Current Events: July 18

Posted on | July 17, 2012 | No Comments

China’s GDP Hit Tells Story of Hubris Run Amok

The lesson from recent economic data and policy moves in Asia (MXAP) is this: Hubris still has its costs. In recent years, Asia believed its own press a little too much. The way it steered around the financial crisis of 2008, the dizzying stock gains, the migration of bankers from New York to Hong Kong and the region’s mergers-and-acquisitions binge were all interpreted as immutable signs of Asia’s economic arrival.  Read more

China may go to war with Vietnam to shore up support: Russian media

An article published in a Russian newspaper suggests that China’s government will launch a war against Vietnam over the South China Sea, both to establish sovereignty over disputed islands and consolidate the support of its public.  Read more

Russia detains 36 Chinese fishermen, 2 boats: Xinhua

Russia has detained 36 Chinese fishermen and seized two ships for entering an exclusive economic zone in its far eastern Primorsky region, China’s state news agency Xinhua reported on Tuesday.  Read more

Chinese newspaper slams PH, Vietnam for running to US for help

One of China’s top newspapers has assailed the Philippines and Vietnam for their alleged “attempt to grab islands and waters (in the South China Sea), which don’t belong to them by riding the back of the tiger,” apparently referring to the United States.  Read more

Beijing has ‘reservations’ over WTO payments ruling

Beijing said Tuesday it had “reservations” over a World Trade Organization (WTO) ruling largely backing the United States in a dispute over lucrative electronic payments, in which U.S. companies are global leaders but lag in China.  Read more

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