Politeía Digest

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Posts Tagged ‘China

Google says hackers based in China accessed U.S. officials’ Gmail accounts

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By Cecilia Kang and Ellen Nakashima

Google said Wednesday that hackers based in China gained access to hundreds of Gmail accounts, including some belonging to senior U.S. government officials and military personnel. The personal Gmail account of one Cabinet-level official was compromised, an official with knowledge of the breach said.

The hackers allegedly used a “phishing” campaign to trick users of the popular e-mail service into revealing their passwords, which allowed the perpetrators to monitor incoming and outgoing messages. Read the rest of this entry »

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Written by Theophyle

June 2, 2011 at 8:21 am

Bamboo capitalism

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China’s economy

China’s success owes more to its entrepreneurs than its bureaucrats. Time to bring them out of the shadows

FEW would deny that China has been the economic superstar of recent years. Thanks to its relentless double-digit annual growth, it has become the world’s second-largest economy and in many ways the most dynamic. Less obvious is quite what the secret of this success has been. It is often vaguely attributed to “capitalism with Chinese characteristics”–typically taken to mean that bureaucrats with heavy, visible hands have worked much of the magic. That, naturally, is a view that China’s government is happy to encourage. Read the rest of this entry »

Written by Theophyle

March 11, 2011 at 8:20 am

Posted in China, Economics, The Economist

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U.S. Sees Shift in China’s Tone on Yuan

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By Ian Talley, Bob Davis And Jason Dean

WASHINGTON—U.S. officials, parsing every word that Chinese President Hu Jintao and his delegation uttered in a visit here this past week, said there were subtle signs they were preparing to let the yuan appreciate faster. Read the rest of this entry »

Written by Theophyle

January 23, 2011 at 10:24 am

Wary Powers Set to Square Off

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By Loretta Chao, Jason Dean and Bob Davis

China’s President Hu Jintao landed in Washington for a summit that will help to define a new relationship between the world’s longtime superpower and its rising Asian rival, at a time when their bonds have been frayed by mutual suspicions and an ideological gulf. Read the rest of this entry »

Written by Theophyle

January 19, 2011 at 2:29 pm

Mr China goes shopping

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Charlemagne

China’s buying spree raises hope, and fear in Europe

SALDI! ¡Rebajas! The winter sales have started. And like the increasingly numerous Chinese tourists across Europe, the Chinese state has gone shopping. On his tour of Europe this month, China’s vice-premier, Li Keqiang, announced his country’s plan to buy cheap European government bonds, as Chinese companies purchased shares in European petrochemical ventures, tens of thousands of cars and even a few million euros’ worth of Spanish wine and ham to top off the shopping basket. Read the rest of this entry »

Written by Theophyle

January 17, 2011 at 10:15 am

Bun fight

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Big Mac index

Why China needs more expensive burgers

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 yuan one of the most undervalued currencies in our Big Mac index, which is based on the idea of purchasing-power parity. This says that a currency’s price should reflect the amount of goods and services it can buy. Since 14.5 yuan can buy as much burger as $3.71, a yuan should be worth $0.26 on the foreign-exchange market. At just $0.15, it is undervalued by about 40%. The tensions caused by currency misalignments prompted Brazil’s finance minister to complain last month that his country was a potential casualty of a “currency war”. The Swiss, who avoid most wars, are in the thick of this one. Their franc is the most expensive currency on our list. Read the rest of this entry »

Written by Theophyle

January 2, 2011 at 7:32 am

Military strength eludes China, which looks overseas for arms

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By John Pomfret

MOSCOW – The Moscow Machine-Building Enterprise Salyut on the east side of town has put up a massive Soviet-style poster advertising its need for skilled workers. The New Year’s party at the Chernyshev plant in a northwest suburb featured ballet dancers twirling on the stage of its Soviet-era Palace of Culture. Read the rest of this entry »

Written by Theophyle

December 25, 2010 at 11:44 am