Monthly Archives: January 2009

On Again, Off Again (Repeat) — The “Bad Bank”

Posted on January 30, 2009 by Richard

The Bad Bank (see yesterday’s post) has hit a snag and may not progress past the light bulb stage. Executive regulators don’t seem to know how it would work in practice. Federal Deposit Insurance Corp Chairman Sheila Bair is apparently … Continue reading →

Posted in Banking and Finance, China After the Meltdown, Investment, U.S. Economy | Comments Off

US to Implement Chinese-Style Toxic Asset Buy

Posted on January 28, 2009 by Richard

American lawmakers appear to have shelved the frightful idea of “nationalizing” failing banks. However, they’ve now settled down to discuss — from media commentary, frantically — a plan that mimics the experience of modern Chinese banking regulators: the creation of … Continue reading →

Posted in Banking and Finance, China After the Meltdown, Investment, Scandals, U.S. Economy | Comments Off

Indian Migrant Workers in Dubai Drive to Airport, Leave Keys in Ignition and Fly Away

Posted on January 27, 2009 by Richard

Not only are Korean expats leaving China, as we posted earlier this month, but migrant Indian workers are no longer willing to call Dubai home: It’s the great escape by Indians who’ve hit the dead-end in Dubai. Local police have … Continue reading →

Posted in Imports and Exports | Comments Off

Watch Out! The Email Scam Some Attorneys Fall For

Posted on January 26, 2009 by Richard

Due diligence on potential clients purporting to hail from foreign lands means more than simply calling the bank and asking if their “Official Bank Check” is good. This article follows the latest court filing, Buckley, White, Castaneda & Howell v. … Continue reading →

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Here We Go Again! New U.S. Treasury Secretary and Manipulation of the RMB

Posted on January 23, 2009 by Richard

Paulson’s Legacy: Geithner: Timothy F. Geithner, who moved closer to confirmation as Treasury secretary on Thursday, told senators that President Obama believed China was “manipulating” its currency, Again? Since 2006, we’ve discussed Treasury’s desire to move the RMB, but, by … Continue reading →

Posted in China After the Meltdown, Foreign Exchange, U.S. Economy | Comments Off

Transparency in the U.S. — Who Can Now Say the Chinese Government is Opaque?

Posted on January 20, 2009 by Richard

Federal Reserve Board Vice-Chairman Donald Kohn before Congress on the importance of keeping secret the names of the recipients of the American banking bail-out. Gasp. I don’t think I can muster up even a single comment on this one.

Posted in U.S. Economy, Video | 1 Comment

The Trade Surplus: Will China, Like Garbo, Continue to Plead: “I Vant to Be Alone?”

Posted on January 19, 2009 by Richard

An enjoyable article by Alan Wheatley: China and the “Garbo Defense.” Indeed, what economic policy toward China will the Obama administration adopt? Any at all? “In bad times everybody talks more about financial cooperation, but the reality is that in … Continue reading →

Posted in Banking and Finance, Investment | Comments Off

A Treat — The Markopolos Madoff Letter to the SEC

Posted on January 7, 2009 by Richard

Sorry, China Hands, but this is too fascinating — must share it with all those following the Madoff Meltdown. Harry Markopolos’s 2005 letter to the SEC. Lengthy, detailed, intelligent, outrageous.

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1 in 5 South Koreans Living in China Have Left

Posted on January 7, 2009 by Richard

One in five of an estimated 700,000 South Koreans living in China at the start of 2007 have left [China], according to the [South Korean] consulate in Beijing. A brief article on its causes, worth reading.

Posted in Imports and Exports | Comments Off

Electric Power Generation No Longer a Growth Industry in China?

Posted on January 6, 2009 by Richard

Growth in electric power generation “has collapsed under the weight of the global economic implosion — at least for now,” claims Andrew Revkin, author of the New York Times Dot Earth blog,. Environmental activists appear to consider this progress in … Continue reading →

Posted in Entering the China Market, Investment | Comments Off