Archive for the ‘Wen Jiabao’ Category

China, Japan Cancel Summit: Islands, Oil Remain Sticking Point

March 17, 2009

Japan’s Premier Taro Aso will not visit China this month, Japanese government officials said Tuesday, following earlier reports that Tokyo and Beijing were trying to schedule a summit in March.

“We’ve been coordinating with China to hold the meeting as soon as possible, but we now recognise that realising it in March is difficult,” Chief Cabinet Secretary Takeo Kawamura told reporters.

AFP

No firm dates had been announced by either government, but Japanese officials had told reporters both sides were trying to schedule Aso’s meetings with China’s President Hu Jintao and Premier Wen Jiabao for late March.

The foreign ministry denied a Japanese media report Tuesday that China had postponed the meetings because of anger over Aso’s recent comments on the disputed Senkaku Islands, called the Diaoyu Islands by China.

“Between Japan and China, top government officials have visited each other on five occasions since last year,” an official said. “Foreign Minister (Hirofumi) Nakasone also visited Beijing earlier this month.”

“The relationship between China and Japan is very good right now.”

Aso last month said in parliament that Japan would ask the United States to defend the East China Sea archipelago, which is also claimed by Taiwan, in case of an attack, drawing a sharp rebuke from Beijing.

Aso and China’s leaders are set to attend the April 2 Group of 20 financial summit in London, where they could meet on the sidelines.

Related:
 China Violates Accord with Japan, Continues Oil Work At Sea
.
China Warship Rushes to Disputed Islands, Oil Beneath: Ace To Other Nations’ Claims?


China drill at sea

A file Philippine Air Force photo shows Chinese built structures ... 
A file Philippine Air Force photo shows Chinese built structures on the Mischief Reef in the disputed Spratly islands in the South China Sea. China on Monday defended its move to send a patrol ship to the disputed Spratly islands, saying it was not a violation of an agreement to maintain the peace in the area.(AFP/PAF/HO/File)

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China cements role as top creditor to US

March 17, 2009

China consolidated its position as the top creditor to the United States, with 739.6 billion dollars in US Treasury bond holdings as of late January, US government data showed.

The US Treasury Department released the monthly figure at a sensitive time, less than a week after Chinese Premier Wen Jiabao expressed concern about the fate of Chinese investments in the United States.

AFP

It marked growth from 727.4 billion dollars of Chinese-held Treasury bonds at the end of December and was up from the 492.6 billion dollars China held in January 2008, according to the Treasury statistics.

While that year-on-year figure represents a sharp increase, much of it was down to big rises in September and October.

China has been the biggest holder of US Treasury bonds since September last year, when it overtook Japan for the first time ever, according to US data.

However, it issued its most high-level note of alarm yet last Friday when Wen admitted to being worried about China’s massive investments in US debt.

“We have lent huge amounts of money to the United States. Of course we are concerned about the safety of our assets,” he told a press conference here.

US President Barack Obama later responded with an assurance that “not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States.”

Lawrence Summers, director of the White House’s National Economic Council, denied Sunday that US Treasury bonds might lose their “AAA” rating from credit agencies because of the economic crisis.

Japan remained the second-largest holder of US debt at the end of January, with 634.8 billion dollars, up from 626.0 billion at the end of December, the Treasury statistics showed.

US Treasury bonds are a preferred investment vehicle for China’s government as it seeks safe and reliable ways to place its nearly two trillion dollars of foreign exchange reserves.

China’s Economic Might, Arrogance Should Cause Caution in the West

March 13, 2009

China has so much cash in reserve that they are funding their own economic stimulus — and with their own money; not borrowed cash.

China is also funding the American economic stimulus by buying American Treasury bills and other debt.

Cinese leaders are gloating to some extent about the stupidity of American leaders who do not have the cash reserves so carefully put aside by China.  Many Chinese leaders also scoff at the tom foolery of most Americans who have such debt ridden lives, with mortgages, credit card debt, a loan for the car and a college loan still outstanding.

But what the Chinese leaders don’t talk about is that few Chinese have cars, nice homes and college degrees….

So Chinese arrogance about American debt is sometimes confused by envy for many things American….

And China has expressed some concern about the spend-crazy Americans.

Premier Wen Jiabao “We have loaned a huge amount of money to the United States,” Wen said at a news conference in Beijing. “Of course, we are concerned about the safety of our assets. To be honest, I’m a little bit worried. I would like for you [a Western reporter] to call on the United States to honor its word and stay a credible nation and ensure the safety of Chinese assets.”

This came at about the same time that United Nations Secretary General Ban Ki-moon called the U.S. a “deadbeat” nation.

Expect China to exert more influence over U.S. economic and foreign policy, just as Barack Obama is claiming the right to dictate policy to banks who took his bailout money.

China holds about $1 trillion in U.S. debt and will likely “buy” about $1 trillion more — especially if Obama and Nancy Pelosi demand another stimulus package.

Chinese arrogance and wealth is unmistakable, pervasive and in some ways very troubling for the West.

China is using its vast wealth and the current global recession as an opportunity to buy up natural resources at bargain prices.  China is building a world-class military complete with a global navy and an aircraft carrier.  And China is not afraid to confront the likes of the U.S. just as it did on the high seas last weekend….

We can expect China to continue to grow and dominate Asia, the Pacific and wherever they choose to go.

This US Navy file photo shows the military Sealift Command ocean ... 
This US Navy file photo shows the military Sealift Command ocean surveillance ship USNS Impeccable (T-AGOS-23). Five Chinese vessels maneuvered dangerously close to a US Navy ship in the South China Sea on Sunday, March 8, 2009, approaching within 25 feet of the unarmed surveillance ship, the Pentagon said.(AFP/NVNS)

Related:
China’s Love/Hate Relationship With The U.S

Obama Wasting America’s Strategic World Power; China Surges Despite Economy
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Era of Obama, American Weakness Emboldens Russia, China, Iran, North Korea, Terrorists

 Global Economy Weakness Leading To Social Unrest

Stimulus: China Will Fund U.S. Debt But “We Hate You Guys”

http://edition.cnn.com/2009/WORL
D/asiapcf/03/13/china.wen/index.html

Behind the U.S. and China At Sea Incident

Pelosi’s Stimulus II? Lawmakers Propose No Cost, High Employment Energy Package

China Buying Oil, Uranium, Gold, Other Products At Bargain Prices

Russia, “Desperate For Cash,” Sells Oil to China In “Very Bad Deal”

China pushes ‘top priority’ on drought relief

February 8, 2009

Chinese Premier Wen Jiabao has urged officials in drought-hit areas to place “top priority” on relief work as agricultural stability concerns China’s bid to revive its economy.

From China Daily

The fight against drought has to do not only with the safety of grain supply but also with the country’s efforts to stimulate domestic demand, Wen said during a visit to central China’s drought-hit Henan Province on Saturday and Sunday.
He said “It’s of vital significance to the overall economy to boost steady growth of grain production and farmers’ income” as China is in a key stage to cope with the global financial crisis.

Read the rest:
http://www.chinadaily.com.cn/china/2009-0
2/08/content_7454774.htm

China Drought “Red Alert”

February 5, 2009

China has declared an emergency in eight northern and central drought-hit regions, where nearly four million people are suffering water shortages.

Nearly half of China’s winter crop – some 10m hectares (24m acres) of wheat and rape seed – are also under threat.

President Hu Jintao and Premier Wen Jiabao ordered all-out efforts to fight the drought, allocating 400m yuan ($58m, £40m) in relief assistance.

BBC

China’s drought relief office called it an event “rarely seen in history”.

China faces droughts and floods annually but has seen a recent increase in extreme weather conditions.

The Chinese authorities say the current drought is expected to continue as no rain has been forecast in the affected areas for at least 10 days.

‘Red alert’

The Chinese leaders’ decision was announced at a State Council meeting, according to the Xinhua news agency.

Government efforts should be directed at stabilising grain production, increasing farmers’ income and ensuring agricultural production, the Council said.

The agriculture ministry says it is on red alert.

Read the rest:
http://news.bbc.co.uk/2/hi/asia-pacific/7871964.stm

China, After Delay, Reports Shoe Thrown at Premier

February 3, 2009

It hesitated for hours over the sensitive footage of a British protester shouting “dictator” and throwing a shoe at Premier Wen Jiabao. But finally, China‘s carefully controlled state broadcaster ran it Tuesday.

The move was a remarkable display of openness — but the footage already was leaking into China via satellite television and the Internet. Critics said it showed the increasing power of such media to erode strict information controls.

By HENRY SANDERSON, Associated Press Writer

“It is impossible for a country to shut out a piece of news,” said Shao Peiren, head of Zhejiang University’s communications research institute in eastern China.

The broadcast might also help the government by appealing to Chinese patriotism. Wen is the leadership’s most popular figure, and he emerged as the hero after last year’s devastating earthquake, calling himself “Grandpa Wen.” The nickname was embraced by some enthusiastic Chinese.

Still, incidents that could be seen as unflattering or insulting to the Chinese leadership have long been treated with the greatest sensitivity. The first Chinese reports on the protest during Wen’s visit to Britain’s Cambridge University left out key details, including that a shoe had been thrown.

But the China Central Television broadcast had it all. The evening news showed the footage among the first stories of its half-hour broadcast, leading into it with a report on Wen’s speech itself and his return to Beijing.

Then the shoe-throwing footage was shown, with no commentary from the anchors, just a simple news setup.

The camera was fixed on Wen, but later cut to the whistle-blowing protester being removed from the hall, while the audience shouted “Get out.”

“How can this university prostitute itself with this dictator here? How can you listen … to him unchallenged?” the man — who has yet to be identified — could be heard shouting.

The sound of the shoe hitting the stage, away from Wen, could be heard as well.

Read the rest:
http://news.yahoo.com/s/ap/20090203
/ap_on_re_as/as_china_britain_shoe

Related:
Man Charged With Public Disorder for Shoe Throwing At Chinese Premier

Free Press: Shoe Thrown At China’s Wen Not The Mega Media Event Bush’s Shoe Seemed

Man Charged With Public Disorder for Shoe Throwing At Chinese Premier

February 3, 2009

The man that threw a shoe at China’s Premier Wen Jiabao has been charged with a “public order offense” and is expected to stand trial before a Cambridge Magistrates’ Court on February 10.

He could face up to 6 months in prison or a £5,000 fine, the UK’s Crown Prosecution Service said in London.

The throwing of the shoe was seen as a protest of Chinese policies supported by Mr. Wen.

In China, the state controlled media told the Chinese public only that there had been an incident.  The shoe throwing was not further described.

Wen went to Britain to talk economic issues following the Davos international financial forum last week.

He was met on Sunday by “Free Tibet” protesters.
[chinese premier wen jiabao] 

Chinese Premier Wen Jiabao, Photo: Associated Press

CNN:
http://edition.cnn.com/2009/WORLD/euro
pe/02/03/china.uk.shoe.thrower.court/index.html

Related:
 Free Press: Shoe Thrown At China’s Wen Not The Mega Media Event Bush’s Shoe Seemed

Brits May Double Exports To China To Halt Recession

Free Press: Shoe Thrown At China’s Wen Not The Mega Media Event Bush’s Shoe Seemed

February 3, 2009

China has a nice way of dealing with criticism.  They ignore it.

Rather, they make it go away.

In the state controlled Chinese media the shoe thrown at China’s Premier Wen this week in London never happened.

Oh, something happened.  The Chinese just can’t say what.

Mr. Wen was also not accosted by a pro-Tibet freedom group in London….

You can’t buy loyalty like this with a free press….And China knows it.

The shoe landed several meters from Wen Jiabao.

The shoe landed several meters from Wen Jiabao. It landed a million miles from the Chinese media…

A pro-Tibet protester runs past a police cordon outside the Chinese Embassy in London.

Protest in Wen’s face: a pro-Tibet protester runs past a police cordon outside the Chinese Embassy in London on Sunday.

******

By HENRY SANDERSON, Associated Press Writer

BEIJING – China’s foreign ministry and media on Tuesday denounced a man who hurled his shoe at the country’s premier and called him a dictator on a visit to Britain — all while avoiding explicit descriptions of the protest itself.

Foreign Ministry spokeswoman Jiang Yu called the disruption of Premier Wen Jiabao’s speech “despicable” during a press conference but said it would not “stem the tide of friendly relations between China and Britain.” She didn’t mention shoes.

Unlike the now-famous incident when an Iraqi reporter threw his shoes at former President George W. Bush in December, covered widely not only in China but around the world, state-run newspapers and Web sites in China carried stories on Wen’s speech but did not directly mention the shoe-throwing.

China’s state-run CCTV network reported Foreign Ministry comments, which acknowledged a “disturbance” during the speech, but made no mention a shoe had been thrown at Wen.

The official Xinhua News Agency issued a story saying that Britain apologized for an incident and that China had “expressed its strong feelings against the occurrence of the incident.” However, it did not say what the incident was.

Read the rest:
http://news.yahoo.com/s/ap/20090203
/ap_on_re_as/as_china_britain_shoe_4

Related:
http://edition.cnn.com/2009/WORLD/e
urope/02/02/china.uk.shoe.protest/i
ndex.html

Dallas Federal Reserve Chief, China, Germany All Call Protectionism “Death”

February 2, 2009

Dallas Federal Reserve President Richard Fisher cautioned Monday that protectionist tendencies are dangerous, calling them the “crack cocaine” of economics.

Speaking on C-Span, Fisher addressed a proposed congressional fiscal stimulus law that would offer “Buy America” provisions in an effort to encourage the purchase of domestic goods. However, such provisions are dangerous, Fisher warned. “Protectionism is the crack cocaine of economics … (it) leads to economic death,” he said.

“We just cannot afford to go down that path,” Fisher added.

The Dallas Fed President just concluded his term as a voting member of the Federal Open Market Committee. Known as one of the most ardent inflation hawks in the nation’s policymaking body, Fisher added in his comments that failure to remove added liquidity from the system in a timely manner could result in serious price inflation.

The Federal Reserve needs to be cautious that their excessive lending and record low interest rates, set at a target range between zero and 0.25 percent, Fisher said, warning that an inflation problem could be “baked” into the country’s economic outlook.

******************
LONDON  — Visiting Chinese Premier Wen Jiabao on Sunday warned against protectionism in face of lingering global financial crisis.

Speaking at a meeting with former British Prime Minister Tony Blair, Wen said as international financial crisis is spreading, his visit to London was to send a message of confidence for Britain and China to join hands in overcoming current difficulties.

He noted that the two sides should further explore the potential for cooperation, and guard against trade protectionism, in particular.

Read the rest from China Daily:
http://www.chinadaily.com.cn/china/2009-02/02/conte
nt_7435205.htm

Related:
Economy Sparking Protectionism, Global Trade Disputes?

 Obama Forced to Rethink “Buy American” in Stimulus After Hits from China, Germany, Others

Brits May Double Exports To China To Halt Recession

February 2, 2009

Britain’s recovery from recession can be helped by a doubling in exports to China over two years, Prime Minister Gordon Brown said following talks in Downing Street with the Far Eastern giant’s Premier Wen Jiabao this morning.

 China's Premier Wen Jiabao (2L) leaves after meeting Britain's ...
China’s Premier Wen Jiabao (2L) leaves after meeting Britain’s Prime Minister Gordon Brown in Downing Street, central London February 2, 2009.REUTERS/Stephen Hird (BRITAIN)

Mr Brown said the massive 4 trillion yuan (£400 billion) fiscal stimulus announced by the Beijing authorities in November will create huge opportunities for British exports to China, particularly in the low-carbon technologies of the future.

By Andrew Woodcock and Robert Dex, Press Association
Independent (UK)

He thanked Mr Wen for his support in the battle against protectionism and for reform of global financial institutions, and broke into Mandarin to wish him a happy Chinese New Year by saying: “Gong Xi Fa Chai”.

Speaking alongside Mr Wen at a business conference in London, Mr Brown said his target was to increase British exports to China from 5 billion US dollars in 2008 to 10 billion in 2010.

Mr Brown said: “I believe that there is much scope for trade and investment to expand between our two countries even in these most difficult of times for the global economy.

“The strength of the relationship between China and Britain will be a pivotal force in helping us through the downturn and a powerful driving force behind our future growth and prosperity.

“We know from previous downturns that a retreat to narrow, short-term protectionist policies would only serve to deepen the global recession and we must not and will not allow that to happen again.”

Today’s meeting was one of a series of talks with leaders of the G20 group of leading economies ahead of the London summit in April, at which Mr Brown said “work against protectionism” would be a major theme.

Read the rest:
http://www.independent.co.uk/news/uk/politics/chin
a-to-aid-recession-recovery-by-doubling-uk-export
s-1523368.html