Beyond Borders

Asian nations seek cooperation in the face of the financial crisis As the global financial crisis continues to spread worldwide, its impact on the member states of the Association of Southeast Asian Nations (ASEAN) and the ASEAN Plus Three countries-China, Japan and South Korea-is deepening, according to a semi-annual report recently released by the East Asian Economic News of the World Bank Faced with slumping exports and other challenges, Asian countries have come up with huge bailout packages in an ef...     

Crisis-Driven Cooperation

Not hit as badly as the West, East Asian and Southeast Asian countries grapple with the financial crisis from a long-term perspective Although Thailand postponed at the last minute the annual summits of East Asian and Southeast Asian leaders scheduled on April 11-12, regional cooperation will continue to forge ahead with full vigor, even more so in the context of the global financial crisis, said Chinese international studies experts.     

Of Limited Application

<正>While Iran's recent nuclear deal has brought the prospect of easing tensions over the country's nuclear ambitions,the international community has started to shift attention to Pyongyang in the hope that a similar approach can settle the nuclear deadlock in the Northeast Asian country.The two cases do have much in common,     

A Leg up for China

The ongoing financial crisis is taking a heavy toll on emerging East Asian countries, including China, with weakening exports, reduced investments and credit flows that have dried to a trickle. But a     

Powerhouses for Sustainable Growth

The recent financial crisis andcontinuing turbulence have left companies and economies across the world reeling from the impact.Despite this,Asian countries have until now provided a counterbalance to the global slowdown by promoting domestic consumption and investment.Yet,can they-China and India in particular-continue along the path of economic growth? Corporate executives and entrepreneurs from China and around the world discussed how companies should build sustainable enterprises to stay afloat in tough economic times at the 12th annual CEO Forum hosted by Business Week magazine on December 3-4 in Beijing.     

To the Rescue!

Local officials and the Central Government have different ideas about how to put the country's topsy-turvy real estate market back on track when Meng Qinghai, a correspondent for China Central Television, traveled to Shenzhen in July, he discovered a disturbing situation-one similar to the U.S. subprime mortgage crisis had emerged in one of China's most economically developed cities. Some home buyers there reported that they had stopped making their monthly pay- ments on their mortgages. The reason was simple: When their home prices dropped,     

Self-Improvement as a Crisis Strategy

In response to the grave global financial crisis.the Chinese government and industrial enterprises have adopted a series of rellef measures,some of which have achieved early success.That was expected ,but it appears we are approaching a national consensus that our best response may be to seize this opportunity to realize the more upscale goal of economic transformation.Look beyond crisis management for inroads on confidence-building,industry upgrading.and laying new foundations for growth.     

Draw Lessons from the Rise and Fall of International Financial Centers

Title: Capitals of Capital: The Rise and Fall of International Financial Centers, 1780-2009 Publisher: Cambridge Univer- sity Press Author: Youssef Cassis, Jacque- line Collier Pub date: March 2010 408 pages, Paperback, USD 50T HE financial world is plagued by cutthroat wars, but no bloodshed is ever witnessed. From the Asian financial crisis to the U.S. subprime catastrophe, a number of financial storms have swept the world in recent years. In the battle for profits, nobody is a permanent winner.     

Breaking Development Deadlock

Leaders of the Association of Southeast Asian Nations gather in Thailand topromote regional development against a backdrop of global financial crisis The long expected 14th Summit of the Association of Southeast Asian Nations (ASEAN) took place in central Thailand's Hua Hin from February 27 to March 1. Under the theme of "ASEAN Charter fo     

All Aboard

正With the notable exception of the UK, European nations have agreed to a unified response to the debt crisis The EU Summit ended on December 9 in Brussels with two surprises:EU leaders agreed on establishing a new "fiscal compact" based on inter-governmental treaties to cure the ongoing debt crisis, and British Prime Minister David Cameron decided to keep the United Kingdom out of that compact.     

By Mutual Consent

What China and the United States can do together to turn crisis into opportunity As the battle against the global financial storm heats up, China and the United States are increasingly finding themselves in the same boat. In the face of looming downturns, both countries have pumped massive fiscal stimuli into various key industries to foster a turnaround. But an end to the crisis will not necessarily turn on a spigot of     

Europe Needs to Learn from China

FOUR years into the international financial crisis,it’s clear that the economic policies followed in Europe to deal with the crisis have failed.Realization of this has now led to major political changes in Europe,epitomized by the outcome of the French and Greek elections.The Financial Times,one of the world’s leading newspapers,considered these events so significant that it headlined its lengthy review of them "Seven Days Which Shook Europe."A key reason Europe’s policies have failed to solve the economic problems that arose from the financial crisis is that there has been a consistent     

Perils of a Post-Olympic Slump

The seven-year run-up to the Olympics has seen China’s white-hot economy chug along with an annual growth rate of more than 10 percent. But the global economic race is more of a marathon than a sprint. Several former Olympic host countries, including Japan and Australia, suffered economic slumps to varying degrees after the euphoria. Now eyes are turning to China to see if the Games will have a similar impact after they end. Will a post-Olympic slowdown play out here, or could it even prompt another economic take-off in the country? China Development Observation, a business monthly, interviewed Chen Jian, Executive Director of the Beijing Olympic Economy Research Association; Li Yining, a renowned economist; and Zhuang Jian, a senior economist at the Asian Development Bank China Resident Mission, for some answers.     

China and Europe:A Mutual Study

IT’S been 20 years since China set about constructing a socialist market economic system.During these two decades,China stood strong through the Asian financial crisis.It has also weathered the global financial crisis,which shows China has developed strong capabilities in macroeconomic regulation and control.Since the turn of the century,many economists overseas have defined China’s developmentpath as the "China Model." In reality,there is nosuch fixed model for China’s economic or socialdevelopment.     

An Interview with Fu Zhihuan

IN the mid- to late-1990s, Chinese railway transport experienced great difficulty owing to fierce competition. In 1998, despite floods and the Asian financial crisis, the Chinese railway industry performed a miracle and decreased its losses by 1.9 billion yuan. In 1999, it canceled out the accumulated losses of the previous five years. Since then it has consistently shown an annual profit.     

A Crisis That Brought Good

The economic woes from the global financial crisis may have been exactly what China neededThe U.S.economy is recovering,an indication that the source of the 2008global financial crisis is slowly on the up and the recovery of the world economy is accelerating.Many minds have begun to reflect on the crisis and its ensuing pains in order to understand how various countries coped with the crisis and how they plan to prepare for the next.Two days are particularly unforgettable in     

Asian Banks: Leading the Way to Recovery

The global financial crisis has rocked the American and European Union banking system leaving many Western banks teetering on the verge of bankruptcy.But in the East,Asian banks have fared well so far.     

Current Rural Medical Service in China

In contrast to the great changes that have taken place in the Chinese economy, China is confronting with a rural health crisis. Statistics shows that about 40-60% of the people in rural areas fail to see a doctor when they get sick simply because they cannot afford it and 70% of the people impoverished due to diseases. In the western part of the country, 60-80% of the patient farmers have to die at home. Part of the Chinese farmers has     

A BEAUTIFUL HOME FOR ALL

正COP15 provides a platform for solutions to the world's biodiversity crisis Earlier this year, a herd of wild Asian elephants wandering in southwest China's Yunnan Province captured the attention of the entire world. Departing their home range in Xishuangbanna on the very southern border of Yunnan as early as March 2020, the herd traveled more than 500 km north before reaching the provincial capital,     

Financial Crisis Redux?

Observers refute the start of a new Asian financial crisis sparked by Viet Nam's financial and economic troubles It looked like a sudden nightmare when stockholders with hundreds of millions of Vietnamese dong found their pockets half empty overnight. The once prosper- ous bull market in Viet Nam plummeted to