• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Cleaner Chinese Coal? Not Really.

    The front page of the New York Times today has an article on China building cleaner coal-fired plants. The title and the article are fairly accurate but any conclusions should be carefully drawn. In particular, China is not taking effective steps to cut emissions of greenhouse gases. In raw terms, … More

    China Hype Doesn’t Help

    A Wall Street Journal headline today adds to a chorus of claims that China’s stimulus efforts are benefiting American business and the world economy. As with previous claims, however, there’s little substance. The WSJ article cites Caterpillar reporting China sales of excavators have returned to pre-crisis highs, concurrent with intensifying … More

    Don't Just Do Something, Stand There

    The Department of the Treasury has again declined to label China a currency manipulator. This will ruffle some feathers on the Congress, labor groups, certain industries, and some plain ol’ regular Americans. Those with ruffled feathers can make good points but Treasury is still right to have done nothing. There … More

    The True Story On Chinese Bond Purchases

    The New York Times today both informs and misleads on China’s role in the American economy. The Times headline warns, “China Slows Purchases of U.S. and Other Bonds.” That may well be true, but it isn’t supported in the story that follows. The story actually cites slower growth in the … More

    Currency Misdirection from Beijing

    A paper by Chinese central bank chief Zhou Xiaochuan — arguing the world should move off the dollar system — has attracted much attention. Like so many economic stories involving the PRC, there is less here than meets the eye. It is hardly a new thought. Beijing has wistfully imagined … More

    Trade Protectionism: The Chinese Pot and the US Kettle

    Chinese trade minister Chen Deming’s op-ed in the Wall Street Journal today chides the rest of the world on turning toward protectionism. This is remarkable on two counts: (i) that the PRC should lecture any country on protectionism and (ii) that the US has opened itself to being lectured by … More

    China Not About to Dump American Bonds

    The Financial Times makes a valiant effort to curb wild talk about China dumping U.S. Treasury bonds. Luo Ping of the China Bank Regulatory Commission may use strong language – “we hate you guys” — but he has a better grip on the PRC’s options than much of the American … More

    First Rain From Trade Storm

    Yesterday’s Wall Street Journal had a front-page story on soaring unemployment among China’s rural migrants. While official Chinese employment statistics are spotty, the gigantic figures being thrown around are no surprise. The Journal and other outlets emphasize the Communist Party’s overwhelming fear of political instability caused by job loss. This … More

    Skies Darken Over U.S.-China Trade

    The Sino-American trade conflict I wrote on last month has just become more likely. Chinese trade numbers show exports declining and imports collapsing at the end of 2008, the latter plunging 21% in December. The grave weakness in imports puts paid to the once-popular but unfounded notion that China could … More

    Chinese Growth Underpowered

    In a few weeks, China will claim to have completed its economic survey and announce a growth rate for 2008. The only thing we know for certain is that figure won’t be accurate. Today, the People’s Bank tipped growth of 9.3% for the year. The final official figure could be … More