Newswire: China and Mongolia

1) Wen Signals Unprecedented Spending Will Drive Chinese Rebound - Bloomberg

China's Premier Wen Jiabao signaled he will maintain unprecedented
government spending to drive a recovery from the slowest expansion in
almost a decade.

"China's economic rebound is unstable, unbalanced and not yet solid,"
Wen said yesterday in a speech at the World Economic Forum in Dalian,
a city in northeastern China. "We cannot and will not change the
direction of our policies when the conditions aren't appropriate."

To read the full article please visit -
http://www.bloomberg.com/apps/news?pid=20601080&sid=aF3.IaUQ.JEo

2) Standard Bank Borrows $1 Billion From Chinese Banks

Standard Bank Group Ltd., Africa's largest lender, said the $1 billion
loan facility it signed with four Chinese banks will be mainly used
for clients developing projects on the continent.

"The money will be used mainly to support our Africa business, for
clients wanting to do business in Africa and this would include
Chinese clients," said Chief Executive Officer Jacko Maree, after
signing the five-year facility in Macau. It will be used mainly to
fund projects, he added.

To read the full article please visit -
http://www.bloomberg.com/apps/news?pid=20601116&sid=aLPkKY95BnaY

3) Mongolia Fund to Manage $30 Billion Mining Jackpot

The Mongolian government will set up a sovereign wealth fund using
mining royalties and tax revenue, and distribute part of the income to
citizens to alleviate poverty, said Finance Minister Sangajav
Bayartsogt.

The fund, to be run by professional managers from 2013, will disburse
part of its annual income to every Mongolian in cash or non-cash
securities to let them own stakes in the country's mining wealth,
Bayartsogt said. Initial capital will be drawn from Ivanhoe Mines
Ltd.'s $4 billion Oyu Tolgoi copper- gold mine project, estimated to
generate $30 billion in tax revenue over 50 years, he said.

"We're drafting the idea to implement the proposal, and we're
studying examples like the Alaskan Permanent Fund," Bayartsogt said in
a Sept. 9 interview in the capital Ulaanbaatar, declining to specify
the size of the proposed fund.

To read the full article please visit -
http://www.bloomberg.com/apps/news?pid=20601109&sid=aWm8u8kb0R5E

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Beichuan, China - Pilgrims flock to disaster site, opportunists seek profit and the government hopes for stability

James Reynolds is the BBC's Beijing correspondent. The following excerpts and video have been been compiled from his most recent article, published at his BBC blog.



"I've just been down to Sichuan to see what things are like a year after the earthquake which killed more than 85,000 people...."

...

The Sichuan earthquake has now taken a prominent place in this national story. The government's response was portrayed as quick and compassionate. The Premier, Wen Jiabao, was cast as the noble hero - the leader who cried with the bereaved and who promised that fallen towns would one day rise again.

This is the official legend of the earthquake. It's what ordinary Chinese people are told - and it's probably what most of them genuinely believe as well.

On a hilltop overlooking the ruins of the town of Beichuan, hundreds of Chinese tourists now queue up to buy pieces of this legend. Vendors sell picture books and DVDs of the disaster, incense and candles to be placed on memorials.

But these tourists know almost nothing of the parents' story. Since early June 2008, the Communist Party has banned the Chinese media from covering the parents' campaign.

Over the last year, local officials have harassed, sometimes even attacked the parents in an effort to keep them quiet.

Click here to access Reynolds full article @ his BBC blog.

China: Stimulus Working

[Reuters Video] - China's central bank says the $580 billion stimulus measures are having a better-than-expected impact on the economy, with more action likely.

China and North Korea, still buddies after all the years...

Read a interesting article today on Xinhua News Agency about a new program recently initiated between China and the Democratic People's Republic of Korea (DPRK), aka North Korea.

It is called "China-DPRK Friendship Year." Anyone interested in signing up? The celebratory year coincides with the 60 year anniversary of the establishment of diplomatic relations.

Premier Wen Jiabao, who is more frequently seen on this website shaking hands with leaders in Latin America, explained the incredible importance of China's relationship with North Korea. He also emphasized China has not forgotten that North Korea was one of the first countries to establish diplomatic ties with China.

Chinese Premier Wen Jiabao and his counterpart of the Democratic People's Republic of Korea (DPRK) Kim Yong Il

The point... The Chinese don't easily forget, even if you grow into a country that is the demigod of the international community and really offers little economic benefit of continuing to support.

So listen world leaders! Be nice to China, and just maybe you too can party for one full year with China.

Official foreign tours by China's top leaders to Africa, Middle East, Latin America and Europe highlight “confidence, friendship and cooperation.”

Top officials from the Chinese government have been busy visiting or preparing for trips to Africa, the Middle East, Latin America and Europe.

Premier Wen Jiaobao latest European trip has boosted confidence in the two regions joint efforts at tackling the global financial crisis, reported Xinhua today.

Chinese Preisdent Hu Jintao will visit Saudi Arabia, Mali, Senegal, Tanzania and Mautitius from Feb 10th to Feb 17th.

Vice President Xi Jinping left yesterday on Sunday to meet Vice Premier Hui Liangyu (below) for his own official visits to Mexico, Jamaica, Colombia, Venezuela, Brazil and Malta.

Chinese Vice Premier Hui Liangyu (2nd L) is greeted upon his arrival in
Buenos Aires, Argentina, on Feb. 8, 2009.(Xinhua/Martin Zabala)

Jia Qingguo, associate dean of the School of International Studies at Peking University, told the Beijing-based Global Times newspaper that “the international community expects China's greater involvement in international affairs and a greater international responsibility for China.”

On the other hand, "it signifies that China is placing a greater emphasis on cooperation with the rest of the world, which has an important bearing on our own interests," Jia said.

Chinese Vice Premier Hui Liangyu (L) is greeted upon his arrival in
Buenos Aires, Argentina, on Feb. 8, 2009. (Xinhua/Martin Zabala)

Chinese Prime Minister Wen Jiabao gets shoe thrown at him in UK -- Reuters

President Bush isn't the only one getting shoes tossed his way. Chinese Prime Minister Wen Jiabao was in Europe yesterday giving a speech at Cambridge University in the UK when a protester in the audience threw a show at him, calling Wed a "dictator."

China's foreign ministry spokeswoman denounced the actions of the protester and hailed the Prime Minister trip to Europe as a important step forward in Sino-European relations.



Seems like throwing shows is becoming a popular way to express your anger and discontent towards an individual. It becomes all the more meaningful considering a great many cultures and people in the world also think of it as the "ultimate insult."

Leaders be ware...

UK to double exports to China - Reuters

Feb 2. - British Prime Minister Gordon Brown seeks to strengthen economic ties with China during a visit by Premier Wen Jiabao.

Brown says both leaders have agreed to resist trade protectionism in the face of the economic slump, while China prepares to send delegations to Europe to buy commodities, goods and technologies.

Peter Parker, Reuters