Fonterra considers minority stake in China farms
Fonterra Cooperative Group may seek investment funds as partners in future farms and would be willing to take a minority stake. "Right now we're owning the farms but down the road (we're) looking at doing those more with partners," chief executive Andrew Ferrier said in Beijing. For the full story, click...
Shanghai Expo passes goal of 70 million visitors
China surpassed its target of 70 million visitors to the 2010 Shanghai World Expo, reaching the world record figure as the six-month exhibition enters its final week. Sixty-four million people visited the 1970 Osaka World Expo in Japan, Chinese media reported. "The news that total visitors surpassed 70 million is...
Geithner expecting yuan to get stronger
United States Treasury Secretary Tim Geithner expects China will allow the yuan to strengthen because officials there understand it's in the interest both of domestic growth and global economic stability. "They recognise it's important to the world," Geithner said in an interview with Bloomberg Television, after...
How to stop a currency war
In recent weeks the world economy has been on a war footing, at least rhetorically. Ever since Brazil’s finance minister, Guido Mantega, declared on September 27th that an “international currency war” had broken out, the global economic debate has been recast in battlefield terms, not just by excitable...
Fonterra in $42m Chinese farm deal
Dairy giant Fonterra has released details of a $42m investment in a new Chinese dairy farm it says will soon house 3000 cows and employ 100 locals in the northern Hebei province. Fonterra said the investment signals the next step in its strategy to expand local milk production on the ground in China, following the...
US-China ties crucial for Asia’s security
Shifts in the global balance of power, such as we can see in the US-China relationship between an emboldened China and a United States distracted by economic troubles, are harbingers of turbulent times ahead, says The Economist foreign editor Edward Carr. After “a pretty good decade” in the relationship, Mr...
It’s not about Guanxi. It’s about your Business Model ...
There’s been a certain amount of blog chatter about “guanxi” in China – the role of relationships when doing business in or with China. Dressed up as an almost mystical intangible that needs to be put in place in order to succeed, a lot of the debate has been about defining it, attempting to determine...
Where others fear to tread
FOR anyone seeking proof of the extent of China’s reach into Africa, this year’s graduation ceremony for executive MBA students at the partly state-run China Europe International Business School (CEIBS) in Shanghai would have been a good place to start. Alongside the predominantly Asian faces delightedly...
The man who could be China's next president
When the Communist Party's elite meet in Beijing this weekend for the Central Committee's 5th plenary session, all eyes will be on China's Vice President Xi Jinping. Xi, 57, is expected to assume the presidency when Hu Jintao steps down after his second and final term in 2012. But whether Xi is on track to succeed Hu...
Bun fight
A WEAK currency, despite its appeal to exporters and politicians, is no free lunch. But it can provide a cheap one. In China a McDonald’s Big Mac costs just 14.5 yuan on average in Beijing and Shenzhen, the equivalent of $2.18 at market exchange rates. In America the same burger averages $3.71. That makes China’s...
Xi who must be obeyed
In order to be taken seriously, sometimes “thumping the table is better than not thumping”, Xi Jinping reportedly said when he was a relatively little known provincial chief. On October 18th Mr Xi, who is now vice-president, was anointed as China’s leader-in-waiting. Yet earning the respect of his fractious...
A new epic
Six million tonnes of cement; 5m tonnes of pig iron; 4.12m tonnes of steel—China’s first five-year plan, formulated with Soviet help, was a resounding success. China surpassed all of these targets by 1957, the plan’s final year. Will China’s 12th plan, spanning 2011 to 2015, fare as well? The full...
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