Patrick Cheng

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Japan’s economy is not underperforming – its population is getting too old

Japan is officially back into recession as its economy shrank for the second consecutive period in the third quarter this year.<p>Japan’s economy – …

Economics

Chinese Pull Back From U.S. Property Investments

The nation’s economic and stock-market slump puts buyers on the sidelines<p>Karen Xu, a Shanghai resident looking to invest in U.S. real estate, decided this spring to seek a Miami one-bedroom condominium in the $500,000-to-$750,000 price range.<p>China’s economic slowdown has since changed her mind. “I …

Stock Markets

What are the chances of an actual currency crisis in China?

2015-11-27T09:56:21.000Z<p>By: David Keohane<p>First things first, and to repeat ourselves, China’s recent devaluation was pathetic.<p>We mean, really, what …

China

Is China the new Japan?

The new Chief Economist at the IMF, Maurice Obstfeld, posed a challenging question at the end of his first major policy conference in charge last …

Economics

IPOs restarting in China, you say? Risk free returns as usual, you suggest?

2015-11-10T08:54:52.000Z<p>By: David Keohane<p>Macquarie on Friday:<p>We should know by now that trying to anticipate results on margin flows is truly a mug’s …

Stock Markets

Capital Flight From China: Why Investors Are Taking Their Money Elsewhere

SHANGHAI – Two decades ago, when he first set up his business in China, the European businessman with an interest in design was captivated by …

How ISIS Spread in the Middle East

And how to stop it<p>“It is perfectly true, as the philosophers say, that life must be understood backwards. But they forget the other proposition: that it must be lived forwards.” This observation was made in 1843 by the Danish philosopher Søren Kierkegaard in a journal entry, but it might have been …

Middle East

「煤都」撫順:因煤而興,因煤而困 - 紐約時報中文網

中國撫順——礦坑的坡度很陡,車在蜿蜒的顛簸道路上向下滑行。<p>「路本來是暢通的,可是昨天晚上的暴雨和接下來的泥石流讓路很不好走,」撫順地質環境監測站站長崔原說。崔站長今年44歲,負責監測泥石流的情況。泥石流導致路上到處散落着採煤的副產品。<p>廣告<p>礦坑底部附近,一座四層樓高的破舊建築以危險的角度傾斜着。將煤炭運至地面的傳送帶由又高又細的柱子支撐着,其中一半搖搖欲墜地歪了。<p>這座撫順西露天礦是亞洲最大的露天煤礦。此時礦坑裡人數寥寥的礦工並未從事開採工作,而是在清理泥石流堵塞的通道、撲滅煤火。當深埋地下的煤炭數百上千萬年來首次接觸到空氣的時候,便會自燃。<p>撫順是中國的眾多「煤都」之一,目前陷入了困境。該市的煤炭 …

Why China’s model of capitalism is popular in Africa—and America’s isn’t

We live in a bipolar world. History has not quite ended even though it’s pretty much accepted that capitalism has triumphed over socialism. But which version of capitalism? There is the free market, democratic approach of most of the western world, with the US as its most visible example. Or …

South Africa

China’s Great Game: Road to a new empire

“The granaries in all the towns are brimming with reserves, and the coffers are full with treasures and gold, worth trillions,” wrote Sima Qian, a …

China

This Is How Europe Came to Dominate the World by the 20th Century

<i>This post is in partnership with the History News Network, the website that puts the news into historical perspective. The article below was</i> …

World History

Paris Review - Jim Harrison, The Art of Fiction No. 104

Interviewed by Jim Fergus<p>Issue 107, Summer 1988<p>Photo by Andy Anderson<p>This interview was conducted over a five-day period in mid-October of 1986 at Jim Harrison’s farm in Leelanau County, Michigan. It was the middle of the bird-hunting season, and his friends, painter Russell Chatham and writer Guy …

Literature

Want to Keep People Away? Don't Insult Them; Confuse Them.

By Sadie Stein October 8, 2015<p>A woman diagnosed as suffering from hilarious mania. Color lithograph, 1892. Image via Wellcome<p>Contrary to popular wisdom, in my experience many of the best comebacks are not cutting. L’esprit d’escalier is all well and good, but take it from me, zingers aren’t what …

Columbia University

Is the US slowdown for real?

In the aftermath of the supposedly “weak” US employment data published last week, investors seem to have shifted their assessment of the likelihood …

Economy

Paris Review - Norman Mailer, The Art of Fiction No. 193

Interviewed by Andrew O'Hagan<p>Issue 181, Summer 2007<p>Norman Mailer in 2006.<p>I saw Norman Mailer over the course of two days in April, at his home on Cape Cod. The sun was out long enough to let me see the Provincetown transvestites making their way down Commercial Street in a caravan of fake curls, …

Literature

媒体:政治局常委当年怎样当处长

The truth about China's dwindling war chest

Beijing is burning through its trillions of foreign exchange reserves. But is it really forcing 'quantitative tightening' on a limp global economy?<p>China is the world's largest creditor. Beijing's massive money reserves (it is still the largest holder foreign holder of US government debt) currently …

The Financial Times and the Future of Journalism

In a generally depressing decade for newspapers, the <i>Financial Times</i>, a global business publication based in London, has provided something of a bright spot. In emphasizing digital distribution early on and setting up a metered paywall, which allowed readers to access a limited number of posts each …

Journalism

中信證券困境突顯中國經濟風險 - 紐約時報中文網

香港——中信證券擁有市場支配地位、銀行業人才、全球野心和顯赫的政治人脈,它把自己看成是中國的高盛(Goldman Sachs)。<p>作為中國最大的國有金融企業旗下的券商,隨着股市繁榮和企業借款額的激增,中信證券風生水起,其股價在六個月內上漲了兩倍。<p>北京方面正在展開行動,調查為何政府極力干預股市,也未能阻止暴跌,導致一度大漲的股市市值蒸發5萬億美元。而此時,中信證券成為了矛頭所指。<p>廣告<p>本周二,該公司表示,包括總經理程博明在內的三名高管因涉嫌內幕交易,正在接受調查。官方通訊社新華社曾在8月報道,該公司有八名員工涉嫌參與非法證券交易,其中包括至少兩名高管。<p>在如今的艱難時期,中信證券這樣一家在中共高層有深 …

向松祚:中国经济困难比想象的多

农业银行首席经济学家向松祚认为,增长模式需从硬项目转向软环境转变,根本在于打破官本位<p>  尽管表示中国经济仍有巨大潜力,中国农业银行首席经济学家向松祚9月12日在一个论坛讨论中称,中国经济面临的困难比想象的要多,增长模式需从硬项目转向软环境转变,根本在于打破官本位。<p>为何如此判断困难程度?自称并不喜欢三驾马车分析模式的向松祚表示,就以投资、消费、出口来看,2015年1月到8月数据令人悲观,形势严峻。<p>投资长期以来是中国经济增长的主要推动力,向松祚解析,高峰时占整个投资九成的三大类投资,即基建、房地产、制造业,近两年持续放缓,房地产投资跌至5%不到,制造业跌至6%不到,基建投资在13%到15%之间。其 …

America's dark and not-very-distant history of hating Catholics

Progressives and conservatives are in a rare unity welcoming Pope Francis to the US, but anti-Catholicism was rampant before John F Kennedy was president<p>Congress and the United Nations rolling out their red carpets, nuns working overtime to bake communion hosts, prison inmates carving a walnut …

Religion

The Next Revolution in Photography Is Coming

It’s time to stop talking about photography. It’s not that photography is dead as many have claimed, but it’s gone.<p>Just as there’s a time to stop …

National Parks

Singapore monetary policy caught between rock and hard place, say analysts

SINGAPORE (REUTERS) - Singapore is caught between a rock and a hard place: easing its exchange rate-based monetary policy would strengthen its export …

Economics

国务院:个别地方与企业串通骗取中央补助资金