“What Could Go Wrong” – China’s “Worst Case Negative Loop”

“What Could Go Wrong” – China’s “Worst Case Negative Loop”

Tyler Durden on 05/22/2014 12:45 -0400

Yesterday, as we reported, in a surprisingly scathing report, Goldman announced that it was now positioning for an “imminent” two year real estate property downturn, which has significant probability of becoming a hard landing as many others, most notably Barclays in recent days, have pointed out. Which is perhaps why Goldman was one of the few banks this morning to trash last night’s “better than expected” HSBC manufacturing PMI report, as a softish landing is now clearly Goldman’s base case. Read more of this post

Ruling Complicates Global Fight on Auditing of Chinese Firms; Hong Kong Says EY Must Turn Over Papers Related to Former Client, But Firm Cites Beijing Law

Ruling Complicates Global Fight on Auditing of Chinese Firms

Hong Kong Says EY Must Turn Over Papers Related to Former Client, But Firm Cites Beijing Law

DINNY MCMAHON

Updated May 23, 2014 10:06 a.m. ET

BEIJING—A Hong Kong court threw new uncertainty into an accounting dispute involving Chinese companies traded abroad that has put global auditors at the heart of a struggle to assert control over those companies. Read more of this post

Challenges facing the world’s biggest funds

Challenges facing the world’s biggest funds

Posted By   On 23/05/2014 @ 12:57 pm In OPINION | No Comments

In the coming weeks, Towers Watson will be writing a series of articles, exclusive towww.top1000funds.com, that look at key challenges facing large asset owners. These will focus on specific practicalities that many global funds are encountering such as the role of internal teams. Read more of this post

Key dates in Thailand’s political history

Key dates in Thailand’s political history

Thursday, May 22, 2014 – 20:29

AFP

BANGKOK – The Thai army’s announcement Thursday that it is seizing power is the latest episode in decades of political turbulence which have seen at least 18 other successful or attempted coups since 1932. Read more of this post

‘Foreigners only’ law may dent Korea’s casino plans

‘Foreigners only’ law may dent Korea’s casino plans

Thursday, May 22, 2014 – 10:09

Bae Hyun-jung

The Korea Herald/Asia News Network

MACAU – The casino business is one of the very few industries that has been enjoying double digit growth over the years, especially in Asia, but whether South Korea will be able to take its share of the pie is yet to be seen. Read more of this post

Chinese brands gain on rivals

Chinese brands gain on rivals

Thursday, May 22, 2014 – 09:17

China Daily/Asia News Network

CHINA – The overall value of Chinese brands is rising but not reaching global levels. That signals they need internationalization, according to the 2014 BrandZ Top 100 ranking. Read more of this post

China corruption fight turns on ‘naked officials’ with family overseas

China corruption fight turns on ‘naked officials’ with family overseas

Thursday, May 22, 2014 – 20:47

Reuters

BEIJING – China has removed a senior”naked official”, one whose spouse and children have emigrated, from his post in the southern province of Guangdong, state media reported on Thursday, as the government’s anti-graft campaign turns its focus to a group it sees as a corruption risk. Read more of this post

Thai coup leader shows ruthless streak again

Thai coup leader shows ruthless streak again

Friday, May 23, 2014 – 18:13

AFP

BANGKOK – The Thai general who took power in a coup is a staunch royalist with a penchant for wading ruthlessly into the country’s political turmoil – and justifying his actions as a defence of the nation and its revered monarchy.

Read more of this post

Philanthropist, big spender, warlord: Chinese tycoon’s Australian faces

Philanthropist, big spender, warlord: Chinese tycoon’s Australian faces

12:34am EDT

By David Lague and Charlie Zhu

PERTH/HONG KONG (Reuters) – Former managers and staff at Liu Han’s Australian operations were dumbfounded when the Chinese tycoon went on trial last month for leading a murderous, mafia-style gang. Read more of this post

Industry 4.0 (aka “integrated industry”): Huge potential for value creation waiting to be tapped

Industry 4.0: Huge potential for value creation waiting to be tapped

May 23, 2014

Industry 4.0 (aka ”integrated industry”) will upgrade as an industrial location by bringing on the fourth industrial revolution. With trade flows becoming increasingly internationally interlinked, the Industry 4.0-related elements of increased automation and more flexible production structures will become more and more important. According to a recent study by Germany’s Fraunhofer Institute this opens up the prospect of generating significantly higher added value across numerous sectors. Especially for Germany with its particularly favourable basic conditions, Industry 4.0 thus provides the major opportunity to consolidate the country’s appeal in the international competition for investment – also relative to the fast-growing emerging markets. Read more of this post

Chinese patents: Ever more inventive; Mainland companies are building up their intellectual property

Chinese patents: Ever more inventive; Mainland companies are building up their intellectual property

May 24th 2014 | SHANGHAI | From the print edition

CHINA’S leaders see patents as rungs on the ladder to becoming an innovation powerhouse. So in five-year plans and through subsidies and official exhortations, they have encouraged locals to file patents. And locals have responded with gusto. Two years ago China’s patent office became the world’s busiest. Sceptics have scoffed that most of those filed are “utility model” patents—short-term ones granted for relatively trivial ideas, as opposed to proper “invention” patents—and that few Chinese inventors have won patents in countries where standards are higher. Read more of this post

A very British binge: The housing market is a huge problem in Britain. Blame the government, not the banks

A very British binge: The housing market is a huge problem in Britain. Blame the government, not the banks

May 24th 2014 | From the print edition

HAVING risen by 8% in the past year, British house prices are almost back to the double-digit pace that preceded the financial crisis. That parallel makes many anxious. Vince Cable, the business secretary, calls runaway house prices a “real, real, real worry”. Sir Jon Cunliffe, the central banker responsible for Britain’s financial stability, says housing is “too dangerous to ignore”. David Cameron, the prime minister, describes the rampant market as the biggest risk to Britain’s recovery.

Read more of this post

China’s War on English; To bolster Chinese language and culture, the government is demoting English in schools

http://www.businessweek.com/articles/2014-05-22/china-moves-to-protect-its-language-from-english

China’s War on English

By Dexter Roberts May 22, 2014

Chinese authorities are waging a war on American culture and the use of English. In April, China’s media regulators yanked the popular U.S. television shows The Big Bang Theory, NCIS, and The Good Wife from Chinese streaming websites Sohu (SOHU) andYouku (YOKU). The official party newspaper, People’s Daily, ran two editorials in April bemoaning the use of words borrowed from English when speaking Chinese. Then in mid-May came a flurry of reports in the state media confirming plans announced last fall to reduce the importance of English-language instruction and to expand courses on traditional culture in grade school and high school. Read more of this post

Due to a squabble between KB Financial Group and Kookmin Bank, the effectiveness of financial holding groups’ corporate governance is being questioned nearly 15 years after the government adopted the system

Structure of bank groups is called into question

Political appointees are issue

May 23,2014

Due to a squabble between KB Financial Group and Kookmin Bank, the effectiveness of financial holding groups’ corporate governance is being questioned nearly 15 years after the government adopted the system. Read more of this post

China’s largest steel trader, China Minmetals Corp opened its e-commerce platform to other dealers to help the sector handle overcapacity and a credit crunch

Steel traders in China look to the internet to solve woes

Xinhua

2014-05-23

China’s largest steel trader, China Minmetals Corp (CMC), on Tuesday opened its e-commerce platform to other dealers to help the sector handle overcapacity and a credit crunch. Read more of this post

Thailand Coup: Politicians Banned From Leaving

Thailand Coup: Politicians Banned From Leaving

The country’s armed forces summon ousted political leaders as an international outcry grows over the military coup.

9:26am UK, Friday 23 May 2014

Thailand’s army has banned 155 people, including politicians and activists, from leaving the country a day after seizing power in a bloodless coup. Read more of this post

Dick Smith – the entrepreneur who launched a crusade against the foreign ownership of Australian food processors in the late 1990s – says his company’s ”days are numbered”.

Dick Smith says company’s ‘days are numbered’ as local suppliers disappear

May 23, 2014 – 4:44PM

Jared Lynch

Dick Smith with a pallet load of his Australian grown sliced beetroot. Photo: Ben Rushton

Another iconic brand sold: Peters Ice Cream set to be sold to French company

The pool of Australian food producers is shrinking so fast that it is becoming difficult for patriotic players like Dick Smith to stay in business. Read more of this post

Indian e-retailers are so scared of Amazon that they’re all joining forces

Indian e-retailers are so scared of Amazon that they’re all joining forces

By Shruti Chakraborty May 22, 2014

The race to the bottom is on.

India’s biggest players in e-commerce have seen a flurry of activity this week in their efforts to play defense to Amazon’s overtures on their home turf. Amazon has been scaling up its India operations, such as next-day delivery and a slew of TV ads. Read more of this post

Hong Kong court rejects EY’s case that China law protects mainland audit papers

Hong Kong court rejects EY’s case that China law protects mainland audit papers

3:30am EDT

HONG KONG (Reuters) – A Hong Kong court on Friday rejected auditor EY’s contention that Chinese law prohibits the mainland partner of the firm previously known as Ernst & Young from passing on documents related to a former China client. Read more of this post

How to avoid cultural mistakes in Korea

Updated : 2014-05-22 17:48

How to avoid cultural mistakes in Korea

Joel Lee
A post titled “20 Cultural Mistakes to Avoid in Korea” on culture andtravel website Seoulistic. com has generated much chatter for itssarcastic take on aspects of Korean cultural behavior that foreignersregard as odd.  Read more of this post