Crisis? What Crisis?

[Rubber Duck]

.....The CSI 300 Index exceeded 5,000 for the first time in China, where the central bank yesterday said it was raising interest rates for a fourth time since March. Benchmarks gained elsewhere across the region, except in the Philippines and Sri Lanka......


.....China Vanke Co. led the country's developers higher on speculation property demand will withstand the nation's interest- rate increase. China Vanke, the nation's largest publicly traded developer, rose 3.3 percent to 34 yuan. Poly Real Estate Group Co. added 1.4 percent to 77.27 yuan.

The People's Bank of China yesterday said it was raising the benchmark one-year lending rate 0.18 percentage point and the one-year deposit rate by 0.27 percentage point.

``The market mostly shrugged off the rate increase since there's still so much liquidity,'' said Gabriel Gondard, who manages $5 billion at Societe Generale venture Fortune SGAM Fund Management Co. in Shanghai....

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVYlHHqw9Z.I&refer=home

[touchring]

IDNs are not very different from Chinese stocks. :)

[thefabfive]

Cancer-causing textiles and re-used chopsticks
Blankets containing formaldehyde levels 900 times above accepted levels are found in Australia and New Zealand. The chemical compound can cause allergies and is carcinogenic. All made-in-China textile products, which represent 13 per cent of the country’s total exports, will be tested. In Beijing a factory is found selling re-used non-sterilised chopsticks.

http://www.asianews.it/index.php?l=en&art=10112&size=A

What crisis? The looming confidence crisis!

[touchring]

Cancer-causing textiles and re-used chopsticks
Blankets containing formaldehyde levels 900 times above accepted levels are found in Australia and New Zealand. The chemical compound can cause allergies and is carcinogenic. All made-in-China textile products, which represent 13 per cent of the country’s total exports, will be tested. In Beijing a factory is found selling re-used non-sterilised chopsticks.

http://www.asianews.it/index.php?l=en&art=10112&size=A

What crisis? The looming confidence crisis!



These issues are nothing new - the chinese media is full of such scandals, fake milk, fake this, fake that, anything you can think of can be faked. But life still goes on.

It's only recent one or two years that the fakes managed to get exported to the West.

They really need to enact severe laws, possibly even the ultimate penalty for food forgery, monetary rewards for tipoffs, and have them enforced.

[Rubber Duck]

This is primarily a Chinese problem because they make much more stuff than anyone else. The essential problem is Globalisation. Everything is sourced from around the World to get the cheapest price even if it is not passed on to the consumer.

People are buying brands in the West and getting exposed to all sorts of dangers. Yes, China does have a responsibility. So do the big brands that source from China and so do National Governments.



These issues are nothing new - the chinese media is full of such scandals, fake milk, fake this, fake that, anything you can think of can be faked. But life still goes on.

It's only recent one or two years that the fakes managed to get exported to the West.

They really need to enact severe laws, possibly even the ultimate penalty for food forgery, monetary rewards for tipoffs, and have them enforced.

[touchring]

This is primarily a Chinese problem because they make much more stuff than anyone else. The essential problem is Globalisation. Everything is sourced from around the World to get the cheapest price even if it is not passed on to the consumer.

People are buying brands in the West and getting exposed to all sorts of dangers. Yes, China does have a responsibility. So do the big brands that source from China and so do National Governments.


I think the chinese government has to punish frauds, using fake stuff and selling them as real is fraud.

Also, there are clearly too many factories and small time businesses and resulting in excessive competition.

And since there is a shortage in corn, wheat, it might be a good thing to start packing a few million of these people back to the fields to increase food production.

[Rubber Duck]

I think the chinese government has to punish frauds, using fake stuff and selling them as real is fraud.

Also, there are clearly too many factories and small time businesses and resulting in excessive competition.

And since there is a shortage in corn, wheat, it might be a good thing to start packing a few million of these people back to the fields to increase food production.

Didn't they try that once before? :confused:

[touchring]

Didn't they try that once before? :confused:


Well, i don't know how they will solve it. Free market doesn't work if people don't play by the rules.

[jacksonm]

They really need to enact severe laws, possibly even the ultimate penalty for food forgery, monetary rewards for tipoffs, and have them enforced.

http://www.drugresearcher.com/news/ng.asp?id=78089-sfda-china-corrupt-death

.

[touchring]

http://www.drugresearcher.com/news/ng.asp?id=78089-sfda-china-corrupt-death

.


That will only control the bigger officials and for very serious cases only. It doesn't solve the problem of fake goods and fraud.

Fake goods and fraud is a law enforcement issue, if the Chinese government wants to act on it, they can do it.

It's like how they act on every falungong practioner - this was even more wipespread than goods fraud, involving hundreds of thousands of people at one point.