CSG news update -- 2007-08-20

[China Study Group <chinastudygroup@gmail.com>]

China Study Group news update

Food Prices Fuel China Inflation Fears
http://biz.yahoo.com/ap/070819/china_inflation_fears.html?.v=3
AP | 2007-08-19
Joe Mcdonald
BEIJING (AP) -- Grocery shopping has become a painful experience for Zhang Xueyi. Meat prices have risen 50 percent in the past year, and eggs and other products are not far behind, forcing the 31-year-old railway technician's family to spend a third of its $400 monthly income on food.   "If ...

 Expert View: When the US calls China too capitalist, things are getting nasty
http://news.independent.co.uk/business/comment/article2876471.ece
The Independent | 2007-08-19
 Chris Walker
A businessman was found hanging in his factory last week. The news was lost amid the continuing market turbulence, but it is illustrative of a major story brewing in global markets. Operating out of a small town in Guangdong province, the man's highly successful company had been at the forefront...

A Chinese Century? Maybe It's the Next One
http://www.nytimes.com/2007/08/19/business/yourmoney/19view.html?_r=2&ref=yourmoney&oref=slogin&oref=slogin
New York Times | 2007-08-19
LESTER THUROW
CHINA claims that its economy is growing at 10 to 11 percent a year, and China's official analysts say that their nation will catch up with the United States long before the 22nd century arrives. Don't believe it.  First, let's deal with the implausibility of the official Chinese stati...

The essence of Hu Jintao's June 25th speech
http://www.chinaelections.org/en/readnews.asp?newsid={9D35BF26-786B-4EF1-8F43-FE97D987AA7C}&classname=News%20Highlights
 | 2007-08-19
Shen Baoxiang; translation by Toy Reid
"Socialism with Chinese characteristics is the banner of a modern, progressive, developing China. It is the banner under which the whole party, the entire nation, and all of the different races are engaged in a united struggle.” This statement is the most illuminating and most captivating passage ...

China to issue judicial interpretation on Property Law this year
http://english.people.com.cn/90001/90776/6242979.html
People's Daily Online | 2007-08-19
Xinhua
 The Supreme People's Court (SPC) will promulgate judicial interpretations on Property Law, Corporate Bankruptcy Law and regulations of criminal evidences in 2007, according to a SPC annual plan on judicial interpretations.  The landmark property law was adopted on March 16 after taking 13 yea...

Nearly 5,000 Chinese officials punished for extravagance
http://english.people.com.cn/90001/90776/6243142.html
People's Daily Online | 2007-08-19
Xinhua
 Nearly 5,000 officials were punished for extravagance in the first half of this year, according to the Chinese Ministry of Supervision (MOS).  In the first half of 2007, the government had took disciplinary actions against 4,866 officials of the Communist Party of China and government organs at v...

24,879 Commercial Bribery Cases Handled in Jan.-Jun.
http://www.china.org.cn/english/news/221358.htm
Xinhua | 2007-08-19
China investigated and dealt with 24,879 commercial bribery cases in first half 2007, with 6.156 billion yuan (US$791.26 million) of illicit money involved.     About 5,523 commercial bribery cases involved government officials, accounting for 22.2 percent of the total.     An official with ...

China eyes investing in private equity, hedge funds
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/19/AR2007081900027.html
Washington Post | 2007-08-19
Langi Chiang
SHENZHEN, China (Reuters) - The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official.  Shares in Blackstone cl...

 China laments "cold wind" of quality problems
http://news.yahoo.com/s/nm/20070819/ts_nm/china_safety_watchdog_dc_1
Reuters | 2007-08-19
Ben Blanchard
 BEIJING (Reuters) - Politically motivated, unfair, biased and poisoned by jealousy -- China's quality watchdog chief gave his verdict on Sunday on the storm surrounding the quality of Chinese goods, describing it as a "cold wind."   Li Changjiang told a carefully choreographed talk show on s...

 Missing China miners' relatives furious
http://news.yahoo.com/s/ap/20070819/ap_on_re_as/china_mine_flood_21
AP | 2007-08-19
CHARLES HUTZLER
 XINTAI, China - Distressed family members shouted and scuffled with guards after a third day without word on 172 miners trapped in a flooded mine in eastern China, where rescue crews began pumping water Sunday.   Paramilitary police and emergency crews plugged a breach in a dike that burst Frida...

Death toll in China bridge collapse climbs to 64
http://www.iht.com/articles/ap/2007/08/19/asia/AS-GEN-China-Bridge-Collapse.php
International Herald Tribune | 2007-08-18
BEIJING: The death toll in the collapse of a bridge in southern China jumped to 64 after rescuers found 17 bodies in the rubble, a state news agency said.  It was unclear how many victims might still be buried under the wreckage of last Monday's collapse in the tourist town of Fenghuang, the X...

From 'Go West' to 'Go Green': China's New Economic Strategy
http://www.china.org.cn/english/news/221150.htm
China.org.cn | 2007-08-16
Zou Di
When the State Council issued Opinions on Planning Major Functional Area China began steering a new course for its regional development policy.  The key concern of the Opinions focuses on environmental capacity. The 11th Five Year Plan first voiced their trepidation when they divided the country&#...