Chinese economy news stories on Newser

Premier to Chinese: Get Ready to Buy, Buy, Buy

Mary Papenfuss — Mon, 05 Mar 2012 04:35:29 CST

China's premier today called on his countrymen to spend big to boost the national economy because international markets aren't up to the job. "Expanding domestic demand, particularly consumer demand, is essential to ensuring China's long-term, robust economic development, and is the focus of our economic work this year," Premier Wen...

Foxconn Caves to Pressure, Ups Wages

Kevin Spak — Mon, 20 Feb 2012 11:24:26 CST

Foxconn will bump workers' salaries by as much as 25% while decreasing the amount of overtime demanded of them, the company announced this weekend, in a bid to stem the tide of outrage against it and high-profile customers such as Apple, Hewlett-Packard, and Dell. The move is a victory for...

Foxconn Workers Vowed to Jump Off Roof in Protest

Mary Papenfuss — Thu, 12 Jan 2012 03:50:00 CST

Close to 150 Chinese workers gathered on the rooftop of their Foxconn factory in Wuhan and threatened to leap to their deaths in a "suicide protest" against poor working conditions. The workers were talked down by the local mayor and company officials after spending two days on top of the...

China: Feeble Dollar Is Hurting Our Economy

Rob Quinn — Thu, 28 Oct 2010 04:10:07 CDT

China has countered American anger over its artificially low currency with a complaint of its own. America is printing dollars at an "out of control" rate, sending up commodity prices around the world and saddling China with "imported inflation," the country's commerce minister grouses. Inflation in China—which holds roughly...

House Votes to Sanction China Over Currency

Thu, 30 Sep 2010 05:50:00 CDT

The House has approved legislation that would allow the US to seek trade sanctions against China and other nations for manipulating their currency to gain trade advantages. The 348-79 vote yesterday sends the measure to the Senate, where its prospects are unclear. Senate supporters hope to get a vote on...

Obama Pressures China on Currency

Rob Quinn — Fri, 24 Sep 2010 12:15:24 CDT

President Obama has threatened to get tough with China if it doesn't hurry up and revalue its artificially low currency. The president spent most of a 2-hour meeting with Wen Jiabao yesterday pressuring the Chinese premier on the yuan issue, sending the message that "if the Chinese don’t take actions,...

Okay, Okay, I Praise China Too Much

Kevin Spak — Wed, 22 Sep 2010 12:38:39 CDT

China is mocking us. At this year’s World Economic Forum, they aired a cartoon in which a runner representing America fell over panting, while others teased, “He ate too many hamburgers.” And given China’s incredible growth, they have room to tease, says Thomas Friedman in today’s New York Times . But...

China's SAIC Eyes Big Stake in GM

Kevin Spak — Mon, 20 Sep 2010 12:34:34 CDT

China’s SAIC Motor Corp. is considering making a big grab for GM shares when the government sells off its stake in the company, creating a potential political dilemma for the Treasury, the Wall Street Journal reports. GM is set to go public again in November, and the government, which owns...

China Passes US in Energy Consumption

Kevin Spak — Mon, 19 Jul 2010 14:19:00 CDT

China has passed the US as the world’s most energy-hungry country, according to new data from the International Energy Agency. China consumed the equivalent of 2,252 million tons of oil last year, about 4% more than the 2,170 million tons the US guzzled. The US is unlikely to...