BUSINESS
August 6, 2011 | By David Pierson, Los Angeles Times
China called on the United States to "cure its addiction to debts" and "learn to live within its means" in a searing commentary published Saturday by the official New China News Agency in response to Standard & Poor's historic downgrading of the U.S. government's credit rating a day earlier. China, the largest foreign holder of U.S. federal debt, blamed "shortsighted political wrangling in Washington" for creating the financial morass that threatens to undermine the global economy.
WORLD
June 22, 2011 | By Barbara Demick, Los Angeles Times
After languishing for more than two months in prison without formal charges, China's most famous dissident artist was abruptly released on bail late Wednesday. The official New China News Agency reported that Ai had been freed "because of his good attitude in confessing his crimes as well as a chronic disease he suffers from. " The 54-year-old artist is reported to suffer from diabetes and high blood pressure, although he was not known to be seriously ill. More likely the release was a belated response by Chinese authorities to the international reproach that followed Ai's arrest April 3 at the Beijing airport.
BUSINESS
December 3, 2010 | By David Pierson, Los Angeles Times
China will tighten monetary policy next year, the country's Communist Party leadership said Friday, signaling the world's second-largest economy will likely slow down in the coming months to combat inflation and settle into a more sustainable pace of growth. The announcement by the nine-member Politburo, which was made through the state New China News Agency, said China would shift to a "prudent" monetary policy from a "moderately loose" approach. The decision comes after two years of unprecedented bank lending has flooded the economy with excess liquidity.
BUSINESS
October 1, 2010 | By David Pierson, Los Angeles Times
China on Thursday warned that a bill passed by the U.S. House enabling tariffs against currency-manipulating countries could damage ties between the world's two biggest economies. Foreign Ministry spokeswoman Jiang Yu said China "firmly opposes" the legislation and told American lawmakers not to engage in protectionism. Earlier in the day, a spokesman for the Commerce Ministry told state-run media that the legislation violated free-trade rules and would do little to narrow the United States' massive trade deficit with China.
WORLD
September 23, 2010 | By David Pierson and Megan K. Stack, Los Angeles Times
A dispute between China and Japan over the arrest of a Chinese fishing boat captain shows Beijing's desire to assert itself on the world stage without severely damaging its primary goal of continuing its rapid growth. In the two weeks since the fishing trawler collided with Japanese patrol boats near a group of disputed islands, Beijing has canceled ministerial level contact with Tokyo and Chinese travel agencies have been told to stop offering trips to Japan, a destination for 1.8 million Chinese tourists last year.
WORLD
August 31, 2010 | By Barbara Demick, Los Angeles Times
Chinese President Hu Jintao promised North Korean leader Kim Jong Il help in developing the North's economy and Kim spoke of his desire to restart nuclear talks during a summit Friday in the northeastern Chinese city of Changchun, the Chinese government said Monday. The belated announcement put an end to a five-day state visit that was bizarrely secretive even by the standards of the 68-year-old Kim, one of the world's most reclusive rulers. Kim slipped across the border into China in his armored train early Thursday, eluding detection by border residents and journalists and giving a very public snub to former President Carter, who was in Pyongyang to successfully win the release of Aijalon Mahli Gomes, an American held since January for illegally entering the country.