The Power Generation in China still grows at a staggering pace. Note that it took UK 150 years to reach 85 Gigawatt per year.
英国用了150年才达到每年发电85兆瓦，中国现在每年都超过80兆瓦。
China’s heavy investment in infrastructures, such as Highway, Railway, and Metro (Urban Public Transit) continues.
中国的基础设施建设方兴未艾，继续高速发展.
China is now way ahead in terms of world’s shipping volume. In 2010, among the world’s largest 10 container ports, 6 are out of China. Shanghai now is the World’s biggest container port, handling more containers per year than Singapore or Hong Kong. Another fact worth noting is that 9 out of world’s 10 busiest container ports are all in Asia – tells something about where the future is?
在2010年世界十大集装箱港口排名中，中国有6个港口入围。如果算上其他亚洲港口，世界上最忙的10个港口有9个在亚洲。看来金融危机对欧美经济的打击确实不小。
Recently the housing price in China seemed to have calmed down. However, it is probably still too high considering the price of the house to the income level of the local residents. It is estimated that Dalian and Hangzhou have the highest (housing) price to income ratio in China. Internationally the price to income ratio need to come down to below 8 for houses to become affordable – in China only Changsha and Dongguan seem to be affordable under this criteria.
中国的房价是否还太高？上面这幅图可以给我们一些解答。根据国际水平，房价和收入比低于8才能满足大部分人的购房需求。在中国，大部分城市的房价收入比仍旧远高于8，因此最近房价的下跌似乎没有起到让老百姓买得起房的作用。
China’s GDP growth is heavily dependent on the use of Steel, which has been growing steadily in the past 20 years. Such a fact showed how reliant China’s growth is on infrastructure building and property development in the past two decades.
中国经济在过去二十年的增速和基础设施以及房地产的开发是分不开的。根据一些研究机构的报告显示，每年中国GDP增长需要依靠越来越多的钢材，显示出中国经济增长的真正来源。
During the last 10 years, China has become the de facto engine for world commodity demands. As of 2010, China accounted for 61.5% of world’s Iron Ore demand and 58.5% of World’s soybean demand. China is also one of the largest importer of other products such as coal and oil. It would be scary to imagine the impact on world commodity price if China slows down.
在过去十年中，中国成为了世界上的商品大王。在一些大宗商品中，比如铁矿石和大豆，中国的需求超过了世界总需求的一半还多。还有其他商品也都是中国需求占引领地位。如果中国增速慢下来，很难想象大宗商品的价格会受到怎样的冲击。
A very good video clip from Business Insider to talk about the difference between China and India. Democracy and Economic development, which comes first? It seems that the China way is winning the argument for the moment.
中印之间的对比其中最大的分别就在于民主和经济发展，哪个先搞?这两个地球上人口最多的大国采取的是两种截然不同的方式，因此产生了截然不同的结果。目前看来，似乎中国的方式更加有效。
China never stops surprising me.
One of the key reasons for such confusion, I guess, is the pace of change that has taken place in the past twenty years. When I was growing up in shanghai, I was told that china was lead by a ruling party called the communists, who claimed themselves to represent the best interests of the working class, and who defined china as a socialist country. Yet after 1989, china opened up at an increasing pace and in many aspects showed more capitalistic color than any European country. Naturally the question is raised: so what is china really?
Maybe this is too big a question for me, and probably there is never a correct answer. But I find it helpful to try the following definition: china is at an infant stage of a capitalist society. The animal spirit has been unleashed, and the rule of fittest to survive has been widely accepted. Today’s china arguably resembles the period of industrial revolution of the great Britain: productivity is being largely improved accompanied by urbanization, while the benefit of growth is extremely unevenly distributed among the winners and the losers. Also due to the extremely fast pace of change, the development and implementation of social rules is too slow to catch up with the change.
Continue (继续)
如果要用一个词语简单的概括2011年的全球金融市场，那么“欧债危机”可能具有相当的代表性。在过去的一年中，不管是股票、债券还是外汇投资者，似乎都要看欧洲的脸色行事。如果欧洲债务危机得到一定程度的缓解，各类风险资产便有很大的机会得到升值，反之亦然。
进入2012年，旷日持久的欧债危机是否会发生一些新的变化呢？在笔者看来，这个问题的答案既为是，亦为否。
先来看“是”的部分。欧债危机的新旧阶段的分水岭，当划分在2011年11月1日，即欧洲央行新任总裁德拉吉（Mario Draghi）的上任时间。俗话说新官上任三把火，德拉吉上任以来还不到三个月，但却已经实施了一些大刀阔斧式、前任行长特里谢（Jean-Claude Trichet）没有施行的新政策，总结下来有以下几条。
首先德拉吉在他上任后的第一次和第二次央行会议上，分两次将欧元基准利率从 1.5%下调到目前的1%，间接否认了前任行长特里谢在2011年上半年升息的政策。要知道欧洲央行一向以对待通胀威胁的严谨态度著称，即使在2008年 金融危机的时候，其基准利率也没有低过1%。这也是为什么特里谢在2011年上半年全球经济似乎还没有明显企稳，但似乎又有通胀隐忧的情况下，先于其他央 行急急升息的重要原因之一。但是德拉吉上任伊始就毫不犹豫将前任偏紧的货币政策逆转，可见其应对危机的决心。 Continue (继续)
IS China’s housing price expensive? Depends. Expensive is always a relative concept. This chart compares the housing price in a lot of Chinese cities to that of the United States, and it seems that the housing prices in two countries are quite similar.
中国房价贵么？要看你怎么看了。贵和便宜一直是一个相对概念。这张图表对比了中国和美国十几个大城市的平均房价。看起来似乎中美两国的房价差不多。
China is the second biggest creditor of US, just after Federal Reserve.
中国是继美联储之后美国的第二大债主
The actual currency composition of China’s foreign reserve is a state secret. However, we can get an educated guess on the components based on different sources of information.
中国外汇储备的外币构成没有人知道，但是可以管中窥豹，略知一二。
Up till June 2011, China has invested directly in all the major continents, with a fairly even spread among all of them.
截至2011年6月，中国对海外的直接投资分布五大洲，在每个主要国家都有踪迹。
According to Heritage Foundation, China’s outward direct investments are spread into sectors of energy, metal, power, transportation and other sectors. Data up to June 2011.
截至2011年6月，中国海外直接投资覆盖各个行业，最大的有能源，金属，运输，金融等行业。
This Article was originally published on Business Times.
A lot has been said about the potential rescue from China to the current European debt mess. For example, Mr Yu Yongding, a former member of China’s central bank monetary policy committee, wrote in Financial Times (Oct 31, 2011) that “Beijing will not ride to eurozeone’s rescue”.
I would argue the opposite in this article. To understand this issue more deeply, one need to start with a few numbers.
As of Oct 2011, China held a total foreign reserve worth of about 3.2 Trillion US Dollars, with a wide margin ahead of other governments with large foreign reserves such as Japan (less than 1.5 Trillion USD) and Russia (about 500 Billion USD). During January 2011 to September 2011, China has accumulated 354 Billion USD worth of foreign reserve, which was equivalent to about 1.3 Billion USD per day and almost 1 million USD per minute. Continue (继续)
Which countries will be hit hard if China lands hard? According to Maplecroft, There are a list of countries at the extreme risk if China lands improperly, including Mongolia, Singapore, South Korea and Australia.
中国硬着陆影响的不光是中国自己，还有周边一些其他国家。其中有一些国家和中国的相关性极高，因此受影响的可能性最大。这些国家包括新加坡，澳大利亚，韩国和蒙古。
此文原载联合早报
10月31日，希腊总理帕潘德里欧提议举行公投，由希腊全体人民决定是否接受欧洲议会、欧洲央行和国际货币基金组织（IMF）给予希腊的债务援助。 在此之前，欧洲债务危机断断续续已经持续了接近两年。希腊总理在这时候抛出这一令人大跌眼镜的怪招，为这场危机的解决又增加了许多不确定因素。
一个重要的问题是，为什么希腊总理要在这时候宣布举行公投？公投在希腊国内有民意支持么？回答这个问题，要从如何治愈希腊债务问题的源头说起。
从历史经验来看，一个国家要摆脱债务危机，似乎有两种方法：速效的和缓慢的。这有点像西医和中医，西医讲求用强效的大剂量，对患病区域集中用药以求快速见效，而中医讲求慢条斯理循序渐进。
绝大部分经历过债务危机的国家都会选择西医疗法，因为这种方法虽然在短时间内要经历很大的痛苦，但是耗时短见效快，咬牙坚持忍一忍，危机可能就过去了。 对这些国家渡过债务危机的历史进行的研究发现，基本上他们扭转局势都需要两个必要条件：第一就是快速和大规模的本币贬值，第二就是债务重组。这两个条件缺 一不可。大规模的本币贬值，让债务国的国际竞争力在短时间内成倍上升，为以后经济恢复元气夯下基础；债务重组让债务国的还债压力得到暂时的缓解，不至于被 过多的债务压得喘不过气来。 Continue (继续)
China is one of the world’s biggest consumers and importers of Soybean. In this sector, there are quite a few large players in the crushing of imported beans. The biggest of all is Wilmar, which controls about 17% market share of China’s soybean crushing, followed by China Agri (12%), Chinatex (9%), Cargill (9%) and Jiusan (6%). Most of the imported beans are GMO.
中国是全球最大的大豆进口国之一。中国的进口大豆压榨主要控制在一些巨型粮商手中。其中最大的是益海粮油(Wilmar)，占到17%左右的市场份额。其他比较大的商家有中国农业，嘉吉，九三，莱宝等。
China’s commodity appetite supports the global commodity market. For some of the items, China’s consumption solely determines their price. For example, China consumes more than half of world’s pork, more than 40% of world’s copper, and more than 1/3 of world’s cotton. If China slows down, the demands for all these commodities will slow down.
中国对全球大宗商品的需求是支撑这些商品价格的重要因素。举个例子来说，中国消费了全世界一半以上的猪肉，约40%的铜，以及超过1/3的棉花。如果中国经济受影响，那么这些大宗商品的价格可能都会有明显回落。
During the ten years between 2000 and 2010, the GDP per capita of China has increased dramatically at an annual pace of almost 40% per year. The only big country that has grown faster than China in terms of GDP per capita is Russia. Japan is a major country that has grown the most slowly, with an annual growth rate of slightly above 1% per year.
在2000至2010的10年中，中国的人均GDP从不到1000美元增长到超过4000美元，每年平均增长接近40%。其他发达国家的增速要慢很多。日本最慢，每年差不多1%多一点。
The CEO of Woodsford Capital Management Pte Ltd, Wu Zhijian, has been interviewed by Hedge Week to discuss the regulatory environment in Singapore for Hedge Funds.
伍治坚接受Hedge Week专访并发表对新加坡基金法规环境的看法。
The Interview can be downloaded from HERE.
China’s addiction to GDP growth can be traced back to 1992, more than a decade after the first stirrings of a market economy were launched with the establishment of the special economic zones. The student protests and subsequent clampdown in Tiananmen Square in Beijing in 1989 led many in China’s leadership to question the idea of opening up to the outside world. They worried that the introduction of capitalist-style reforms would inevitably weaken the political structure and so the atmosphere was tight and cautious as China entered the 1990s.
Now technically retired from his role in the leadership, Deng took it upon himself to revitalize the reforms he had first put in motion. On a tour of Shanghai, Shenzhen and other cities that had already seen some of the benefits he foresaw for the country from the reform program, Deng told audiences that for China, “growth is the first principle.” He reassured Communist Party members that the leadership would support local efforts to open up the economy and encouraged everyone to continue with the reforms he had started. The official media gave blanket coverage to the tour and speeches, ensuring that Deng’s words would be taken as party doctrine. Continue (继续)
With 3.2 Trillion Dollars, China ranks the World’s government of the highest foreign reserve, followed by Japan, Russia and Saudi Arabia.
中国拥有3万2千亿外汇储备，位居世界第一，后面跟上的有日本，俄罗斯和沙特。
China’s Global Reach (全球投资潮)
Oct 21
How much money has China invested outward as of today? This is an intriguing question to a lot of researchers and industry analysts. According to Heritage Foundation, China has since 2005 invested a total of $376 Billion world wide to other countries.
中国到底一共向世界各地投资了多少钱？根据美国Heritage Foundation的研究，自05年以来,中国共向国外直接投资了三千七百六十亿美元。
Are you a China Bull? (您对中国有信心么)
Is there a bubble in China property (中国房产有泡沫么)
Secret for China's Growth (中国经济增长原因探讨)
1421: the year China discovered the World
China's Environmental Crisis (中国的环境威胁)
China's Unfinished Revolution (未完成的革命)
Mr China – A memoir (中国先生)
The Chinese Century (中国世纪)
The State of China Atlas (中华新地图)
To live (活着)
Who will Feed China: Wake Up Call for a Small Planet (谁来养活中国)
Asia Hotel
WCM
Chinatells (主页)