China stops importing pork products from Ireland

China is suspending the import of Irish pork products and animal feed over concerns the food may be contaminated with a potentially harmful chemical. The ban went into effect on Monday. Since September, China has imported 2,047 tons of pork. There is no time table for when the ban will be lifted. 

The scare revolves around dioxin, a chemical derived from petroleum that is believed to be harmful to humans.

http://news.xinhuanet.com/english/2008-12/08/content_10474951.htm

Fed approves China Construction Bank branch in US

On Monday the U.S. Federal Reserve has approved an application by China Construction Bank Corp. to open a branch in New York. This is the second largest bank in China and the Chinese government opens 57 percent of its shares. In New York, the Bank of China already has a branch there and this move shows the increased presence of Chinese banks in the United States. 

http://www.reuters.com/article/marketsNews/idUSWAT01060620081208

China auto sales fall in November

Chinese passenger car sales fell 10.3 percent in November from a year ago. The stalling economic growth has hurt consumer confidence. Thus China wants to improve that confidence in order to promote spending once again. 

This news is disturbing because China is already the world's second-largest auto market. One area in which people tight on money have cut back spending is in automobiles. The sales of sedans, sports utility vehicle, and multipurpose vehicles also dropped.

http://www.google.com/hostednews/ap/article/ALeqM5g0FQpX549rHMSQ9zoJJiWO1Y6regD94UG9P01

China irks US with computer security review rules

The Chinese government is straining trade tensions with Washington with its plan to require foreign computer security technology to be submitted for government approval. This move might require suppliers to disclose business secrets. The rules are to take effect May 1st. Washington is against this move and is pressuring Beijing to stop.

Beijing earlier once tried forcing foreign companies to explain how encryption systems work. This plan could hurt China if enough business decide to deal with other countries that have fewer controls to do business.

http://www.google.com/hostednews/ap/article/ALeqM5jDnJ0C2BTOmQa_hn3Kw0dph-EfoQD94UJST00

China to take lead in checks

China has been put in charge of drafting a document on how to handle North Korea's declaration of its nuclear program. Thus China has the main role in this multi-national disarmament deal that promises North Korea aid for compliance. The world out of Washington is that it is too early to tell if a deal between the six countries can be met. The incentives besides aid offered to North Korea is improved standing in the global community. North Korea is not expected to make any moves before president-elect Barack Obama takes office. 

http://www.straitstimes.com/Breaking%2BNews/Asia/Story/STIStory_312126.html

Official: China wants to put $10B in Brazil oil

China seeks to loan Brazil's state oil company $10 billion to help develop new oil fields off the coast of Rio de Janeiro. The deal has not yet been confirmed but this China deal may be part of other deals in the next few weeks considered for Brazil's new investment plan. China has begun to build infrastructure in Africa and is turning its eye towards South America as well. These deals will help give China access to resources. 

http://www.google.com/hostednews/ap/article/ALeqM5hDm_YtYt_O0ImdigEJujyJyj1RMwD94UPIHo0

China’s Industrial Output May Grow at Weakest Pace Since 1999

As exports cooled, China's industrial production probably grew at the slowest pace in nine years due to the slowing of the exports industry. Central bank Governor Zhou Xiaochuan says China needs to prepare for the worst case scenario. The decrease in production, mixed with labor disputes has increased social unrest within the nation. To meet these problems, there will presumably be more rate cuts and fiscal easing. China's leaders are holding an annual economic policy meeting in Beijing this week to consider a package of measures to boost consumption. 

http://www.bloomberg.com/apps/news?pid=20601080&sid=aLOURSVyYk8Y&refer=asia

Obama to Borrow China’s Wealth, Clout in Effort to Steady World

President-elect Barack Obama is expected to be the least confrontational (at least initially) president towards China. Obama realizes America needs China's help to resolve geopolitical issues such as North Korea and managing to stay afloat during the global financial crisis. The current administration has reportedly handled U.S.-China relations well and this is the momentum the president-elect is inheriting. That said, mutual distrust has been growing on both sides as some believe the U.S. purposely triggered the financial crisis to slow down the growth of other nations, most notedly China. Obama has spoken against unfair trade and currency manipulation. Yet rhetoric against China cannot get too strong as China holds large reserves of U.S. currency. 

http://www.bloomberg.com/apps/news?pid=20601080&sid=a8RcQQDb19c0&refer=asia

Becoming more accountable

China success has been brought by the opening up of its economic doors allowing capitalism to flourish in a socialist state. China is known for being an international manufacturing center and trading partner. One major issue that has tainted the Chinese reputation is the high amount of trademark infringement that has been freely practiced in this state. In order for China to continue its economic development is to tighten laws and against all trademark infringement because it wont benefit the government, the people nor international relationships. As in the case of the American based company apple who recently won a law suit against a Chinese based electronic company for trademark infringement.

http://www.china.org.cn/business/news/2008-12/02/content_16889234.htm

As Rome Burns, China Won't Talk

Due to several European leaders meeting with the Dalai Lama, China has cancelled attending the summit to speak about economics in the wake of the recent global slowdown. This article says China could use help in today's global economy and how President Hu Jintao said the party's legitimacy of rule is up at stakes.

This article views China's move as immature. I view this move on China's part as perhaps seeking to give a reason to withdrawal from the summit over a different reason from their true motive of not attending. Perhaps China seeks to handle its economy without input from others or wants to handle things without being obligated to fulfill others' suggestions. Other nations need to avoid doing moves that might anger or upset the Chinese. In the comment section from this article, there is a storm of debate, some of which has degraded itself to horrible language.


http://newsweek.washingtonpost.com/postglobal/pomfretschina/2008/12/china_cancels_summit_with_europe.html