The Chinese government is likely to kill a Chinese company’s offer to buy Hummer from GM, in part because “its gas-guzzling vehicles conflict with Beijing’s conservation goals.”
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Zerohedge explains why, in great detail too. Luo Ping, a director-general at the China Banking Regulatory Commission “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.” “We hate you guys. Once you start issuing $1 trillion-$2 [...] China recently lifted their subsidies on fuel prices because it can no longer afford them and because it will force their businesses to become more fuel efficient. Globalization – and this includes out-sourcing manufacturing to China – is highly dependent on cheap oil. But those days are gone. One immediate reversal is already happening. Furniture [...] Under obvious pressure from Chinese authorities, the Nepalese government has given the security forces guarding their side of Mount Everest free reign in dealing with any protests. If this keeps up, China may wrest the coveted Most Unloved Nation crown from the US. The Tibet demonstrations, the Olympic Torch protest, the Zimbabwe arms shipment, [...] The arms, including three million rounds of ammunition suitable for AK47s and 1,500 rocket-propelled grenades, were ordered by the Zimbabwean military at the time of the March 29 election Zimbabwe is landlocked, thus the arms have to come through South Africa. Major protests are planned should the arms be unloaded and trucked across South [...] Via Adam Curry. Thoughtful, longish piece on Tibet, somewhat favorable towards China. Worth reading. A western journalist working in Beijing [said] editors based in the West are overriding the local opinions of Western journalists actually on the ground, and British ex-pats based in China complained that the Western press has under-reported the degree to which the protests in [...] Live coverage for today’s S.F Olympic torch protests Live Video Students for a Free Tibet Direct Action to Stop the War OlympicTorchSF.com Dimension7 Text Updates Students for a Free Tibet Team Tibet OlympicTorchFS.com From Indybay |  | ||||
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