US-China Trade Update 3-31-2012: China's Grip

This week, U.S. President Barack Obama nominated Jim Young Kim, president of Dartmouth College, to the post of president of the World Bank. The president of the World Bank automatically becomes one of the most prominent figures in the field of international cooperation.China is facing new international demands to let up on it’s grip over its economy.  All this and much more in this week’s U.S. China update.

Contents
Global Relations
Trade
Economy

Global Relations

Commentary:China and Greece — Here We Go, Again
By Steve H. Hanke  March 20, 2012
As the November Presidential elections approach, the United States is looking more like a populist playground, with each passing day. Among other noxious things, China-bashing has become even more fashionable. When it comes to China, the three top Republican contenders for the nomination to challenge President Obama (Mitt Romney, Rick Santorum and Newt Gingrich) have gotten way out in the protectionist.” Read More
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Trade

In the News: China Life profit plunges 45% on stock losses
China Economic Review, March 27, 2012
“China Life Insurance (LFC.NYSE, 601628.SH, 2628.HKG) said its net profit slumped 45% in 2011 due to losses from its investments in the domestic stock market, The Wall Street Journal reported. China Life, which has 40% share of the domestic life insurance market, reported 2011 net profit was US$2.91 billion (RMB18.33 billion).” Read More

In the News: US paper firm expands for promising Chinese market
China Daily, March 27, 2012
“The US-based paper products producer Kimberly-Clark is establishing in Nanjing a new world-class manufacturing center, which will begin production at the beginning of next year, to meet the rising demand of the world's fastest growing consumer market.” Read More

Commentary: Right Time for China to Liberalize Renminbi
Institution, John L. Thornton China Center, March 26, 2012
“The Obama administration has raised the stakes in its increasingly tense stand-off with Beijing on trade and currency issues. It has set up a new agency to investigate China’s trade practices and, along with Japan and the European Union, recently initiated a process through the World Trade Organisation to challenge the restrictions that China places on exports of rare earth minerals.” Read More
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Economy

In the News: On the Road in China – Bling is the Thing
Wall Street Journal China Real Time Report, March 27, 2012
“What would you do with a spare 10 million yuan burning a hole in your pocket? If you already have a house and a car – how about a “house car”- or fang che – otherwise known as an RV?” Read More

Commentary: I would like to make a bet with the Economist
China Financial Markets, March 26. 2012
“I recently read in The Guardian an article by enthusiastic orientalist Martin Jacques in which he says that The Economist has just predicted that China’s GDP, measured in nominal dollars, will will be the world’s largest by 2018.  Earlier estimates, he says had China becoming the largest economy in the world by 2027.” Read More

Commentary: Should President Obama’s Choice Become President of the World Bank?
Peterson Institute for International Economics, March 23, 2012
“The surprise could hardly have been greater over the news that President Barack Obama had nominated Jim Young Kim, president of Dartmouth College, to the post as president of the World Bank. Before going to Dartmouth, Kim was a prominent professor of medicine and expert on global health issues. He has done extensive work on improving health in developing countries. But is he the right person for the job?.” Read More

Commentary: Can China Change?
Council on Foreign Relations China, March 21, 2012
“China is facing fresh international demands to loosen its grip over its economy, highlighted by a recent World Bank report calling into question the country's growth model. At the same time, China is in the midst of a once-a-decade Communist Party.” Read More
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