Notes On China

Where innovation lies - Not in China!

Source: The Economist

Thomson Reuters’ "Top 100 Global Innovators" report rates companies by the proportion of their patent applications that are granted; the number of “quadrilateral” patents (those granted in China, Europe, Japan and America); how often patents are cited by other companies; and whether patents relate to new techniques or inventions or are refinements of existing ones. This approach is intended to overcome the limitations of using the number of patents filed or granted as a measure of innovation.

Of the 100 companies in the list, 40 are from America, 27 from Japan and 11 from France. The report “underscores the fact that although China is leading the world in patent volume, quantity does not equate to influence and quality.”


China nearly bankrupt according to HK professor

Source: Epoch Times

Larry Lang (郎咸平), chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

Lang’s assessment that the regime is bankrupt was based on five conjectures:

Firstly, that the regime’s debt sits at about 36 trillion yuan (US$5.68 trillion). This calculation is arrived at by adding up Chinese local government debt (between 16 trillion and 19.5 trillion yuan, or US$2.5 trillion and US$3 trillion), and the debt owed by state-owned enterprises (another 16 trillion, he said). But with interest of two trillion per year, he thinks things will unravel quickly.

Secondly, that the regime’s officially published inflation rate of 6.2 percent is fabricated. The real inflation rate is 16 percent, according to Lang.

Thirdly, that there is serious excess capacity in the economy, and that private consumption is only 30 percent of economic activity. Lang said that beginning this July, the Purchasing Managers Index, a measure of the manufacturing industry, plunged to a new low of 50.7. This is an indication, in his view, that China’s economy is in recession.

Fourthly, that the regime’s officially published GDP of 9 percent is also fabricated. According to Lang’s data, China’s GDP has decreased 10 percent. He said that the bloated figures come from the dramatic increase in infrastructure construction, including real estate development, railways, and highways each year (accounting for up to 70 percent of GDP in 2010).

Fifthly, that taxes are too high. Last year, the taxes on Chinese businesses (including direct and indirect taxes) were at 70 percent of earnings. The individual tax rate sits at 81.6 percent, Lang said.

His speech can be found on Youtube


A Chinese Man Set Himself on Fire in Tiananmen Square Last Month →

A self-immolation took place in the heart of China’s capital city last month, but it has taken weeks for the news to leak out via foreign tourists. Police acted immediately to put out the fire and the man who did it has reportedly recovered.

The incident, which took place on October 21, has gone completely unreported on China’s heavily censored state media and social networks, despite being witnessed by hundreds of onlookers in the middle of day. After The Daily Telegraph published a photo of the man in the UK this week, government officials have finally admitted that the incident took place and that the 42-year-old man “took the extreme action because of discontent over the outcome of a civil litigation in a local court.” Read more.


The Staggering Stats of China’s Mobile Sector [Infographic] →

siliconhutong:

Sunny Ye over at Techrice has done a great job at helping people envision what is happening in China’s mobile device market.

A few tidbits:

  • Android leads smartphone sales with 43% of the market, followed by Symbian with 22%, and then iOS with 18%.
  • 70% of the cellphones in the world were made in China
  • China now has 930 million mobile device subs.

Take a look at the whole article. Superb.


futurejournalismproject:

Who Owns US Debt: Scratch That, Who Owns Over $100 Billion
The Guardian grabbed info from the US Treasury and asked others to wrangle the data a bit. We can’t help but oblige.
Interesting to note that while we list those holding $100 billion plus in US debt, Thailand, Singapore, India, Turkey, Mexico and others have considerable holdings of their own.
Matter of fact, the US Treasury includes a line item simply labeled “All Other”.
This is all other countries. And all other countries hold $202 billion in US debt.
Note too the American relation with “oil producing” countries.
The US buys their oil. They take the cash and buy US debt. Somewhere to the tune of $229 billon.
Good times. 
And as Democrats and Republicans play their debt ceiling games, keep in mind who will come calling should they not get their act together.
First in line, China with over a trillion, followed by Japan with $912 billion and then a world of folk around the globe with their billions.
Source: US Treasury via the Guardian.
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futurejournalismproject:

Who Owns US Debt: Scratch That, Who Owns Over $100 Billion

The Guardian grabbed info from the US Treasury and asked others to wrangle the data a bit. We can’t help but oblige.

Interesting to note that while we list those holding $100 billion plus in US debt, Thailand, Singapore, India, Turkey, Mexico and others have considerable holdings of their own.

Matter of fact, the US Treasury includes a line item simply labeled “All Other”.

This is all other countries. And all other countries hold $202 billion in US debt.

Note too the American relation with “oil producing” countries.

The US buys their oil. They take the cash and buy US debt. Somewhere to the tune of $229 billon.

Good times. 

And as Democrats and Republicans play their debt ceiling games, keep in mind who will come calling should they not get their act together.

First in line, China with over a trillion, followed by Japan with $912 billion and then a world of folk around the globe with their billions.

Source: US Treasury via the Guardian.


Latitude News: Chinese-style parenting under attack, in China →

latitudenews:


Yao Jiaxin in courtroom

Yao Jiaxin in courtroom

Yale law professor Amy Chua succeeded spectacularly in making America hear her Battle Hymn of the Tiger MotherThanks to Chua and the online chatter that exploded after the publication of her memoir of raising her two daughters Chinese-style in Connecticut, there can be few parents in the US today who do not have a position on what the New York Times dubbed “extreme parenting”.

Chua’s book has also been a bestseller in China, under the intriguing titleBeing a Mother in America – a Yale Law Professor’s Child-raising experience. But it’s a murder case in Xi’an, the ancient city best known for its terracotta army, that has triggered a bitter re-examination of the legitimacy of tiger mom parenting among the Chinese.

It would not be an exaggeration to say that 21 year old piano student Yao Jiaxin topped China’s most hated list in 2011. On October 20 of last year, Yao ran into a young woman while driving home. That was an accident. It’s what happened next that is shocking. When he got off his car, he found out that the injured victim was noting down the car’s license plate number. It was then “within three seconds” that he made a decision that altered his life for ever. Fearful of future blackmailing, Yao took out a dagger and stabbed the woman to death – six times - before fleeing the scene. Three days later, escorted by his parents, Yao turned himself in and confessed to his crime. The open trial that started in March this year made him a celebrity overnight.

First people were puzzled. No one could imagine how the same fingers that played Beethoven and Mozart so gracefully could end a life so ruthlessly. Soon public outrage seized whole nation. People started to ask: why? And the voices arguing that what Yao did was testimony to the bankruptcy of harsh parenting became louder and louder.

[story continues on the LatitudeNews.com site]