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China As America’s Banker, America As China’s Farmer: Malthus Was Right

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By Agustino Fontevecchia
Agustino Fontevecchia
24 March 2011
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China’s agricultural problems, where a quickly growing and increasingly affluent population is putting pressure on food supplies, will eventually spill over to the U.S., says environmental and agriculture guru Lester Brown. With the U.S. the world’s largest grain producer and China the largest holder of U.S. debt, Lester asks, “with China now America’s banker, will America become China’s farmer?”

Thomas Malthus sparked one of the most heated debates in economics back in 1798 when he anonymously published his Essay on the Principle of Population in which he famously postulated that as population growth turned exponential and outstripped agricultural production, which grew at a linear rate, famine and poverty would lead to civil strife and war. In a teleconference on Wednesday, Lester Brown, head of the Earth Policy institute, echoes Malthus’ fears noting that the British economist “was right in the sense that we are having trouble feeding the world population.” Apocalyptically, he adds that he sees he sees “no prospect that we will be able to face rising demand.” (Read On The Verge Of A Global Food Crisis).

China, Brown explains, will put incredible strains on global grain markets and will force the American consumer to forget about cheap food. With news that China had quietly entered the U.S. grain market to buy corn in the last couple of weeks, a nightmare scenario is brewing up for both countries. The U.S., with grain production at around 400 million tons a year, is the world’s breadbasket, according to Brown, exporting more than Canada, Argentina, and Australia together, the next three largest exporters. China, with over $900 million in Treasuries, is the U.S.’ banker.

Read more: China As America’s Banker, America As China’s Farmer: Malthus Was Right

China takes new tack in Libya vote

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By David Cao
David Cao
21 March 2011
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China "expressed regret" over the use of military force in Libya even as it decided last week not to block authorization of the strikes at the United Nations Security Council. China's rare acquiescence moved it further away from its longstanding foreign policy based on non-intervention.

"The Chinese side has always opposed the use of military force in international relations," a government statement said after military strikes against Libya. The attacks are part of a European-led effort to establish a no-fly zone over the country and shake support for Libyan strongman Col. Moammar Gadhafi.

Analysts said the government's decision Thursday not to veto a Security Council resolution to approve the use of force in Libya reflects changes in Beijing's diplomatic strategy as its global interests become more extensive and complex.

China has in the past abstained or voted in favor of sanctions or military force only in cases where countries violated international nonproliferation rules or invaded another country. Beijing abstained, for example, in the vote on Resolution 678 in November 1990 authorizing the use of force against Iraq for its occupation of Kuwait in the Gulf War.

Read more: China takes new tack in Libya vote

Gallery - Beijing Heating System Suffers Explosion

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By David Cao
David Cao
16 March 2011
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An explosion attacks Beijing municipal heating system at Sidaokou Crossing in Haidian district on Mar. 16, 2011.

Beijing explosion

The accident cause is unknown, Beijing police begins investigation, one death and injury report yet.

The new subway line construction field nearby is highly suspect.

 

Read more: Gallery - Beijing Heating System Suffers Explosion

China to Suspend Approval of New Nuclear Projects

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By David Cao
David Cao
16 March 2011
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China has suspended the approval process for nuclear power stations so that safety standards can be revised after explosions at a Japanese plant, according to Wednesday's executive meeting of the State Council, or the Cabinet.

The State Council has required relevant departments to do safety checks at existing plants, according to a statement released after the meeting, which was presided over by Premier Wen Jiabao.

The statement said all reactors in operation in China are safe and the country remains unaffected by radioactive leakages following explosions at Japan's Fukushima Daiichi nuclear plant which was crippled by Friday's 9.0-magnitude quake and ensuing tsunami.

The radioactive leakages won't affect public health in China since they are diluted by the air and sea, the statement said, citing nuclear experts.

"Safety is our top priority in developing nuclear power plants, " the State Council said in the statement, calling for a comprehensive safety check and enhanced management over existing plants.

Before the revised safety standards are approved, all new nuclear power plants, including pre-construction works, should be suspended, according to the statement.

China has six nuclear power plants in operation, which are located along the country's eastern and southern coasts.

The State Council also required the country's environmental regulator, the National Nuclear Safety Administration, to step up monitoring of radioactive substances and issue alerts timely, said the statement.

On March 12, the National Nuclear Safety Administration, under China's Ministry of Environmental Protection, began nationwide radiation monitoring, with results released on its official website every day.

Early in the day another fire broke out at the crippled Fukushima Daiichi nuclear power plant, triggering fear in Tokyo and international alarm. Workers withdrew briefly because of surging radiation levels and a helicopter failed to drop water on the most troubled reactor.

The statement also said that China would continue help Japanese authorities to move Chinese citizens in Japan to safety.

Chinese nationals are leading an exodus of foreigners from Japan

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By David Cao
David Cao
16 March 2011
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FOREIGNERS are scrambling to leave Japan as nuclear fears mount but airline schedules are in chaos after dozens of carriers cancelled and redirected flights away from Tokyo.

International companies have set up evacuation plans in Tokyo and parts of northern Japan and many foreign groups were moving operations to the south and giving staff the opportunity to leave the country.

China has been quick off the mark and has been the first to start a large-scale evacuation of its citizens from affected areas, sending buses to four prefectures: Miyagi, Fukushima, Ibaraki and Iwate to evacuate nationals.

The country was taking people to Toyko's Narita airport or Nigata airport on the northwest coast to board flights to China.

About 33,000 Chinese nationals live in the disaster-hit Japanese prefectures, the China News Service said. China successful lifted 30,000 of its citizens out of Libya when fighting broke out several weeks ago.

Read more: Chinese nationals are leading an exodus of foreigners from Japan

More Articles …

  1. Lamborghini Aftersale System Piss Chinese Owner Off
  2. China Offers Support to Japan, Plays Down Quake Impact at Home
  3. ‘Shocking Proposals’: Zany Highlights from This Year’s NPC
  4. China’s Nuclear Energy Officials Watch Japan
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Banking

  • China's Gold VAT trade reform aims to tax free for investment
  • China's digital RMB transactions top 14.2 trillion yuan
  • Renminbi asset appeal spurs dim sum bond market
  • UnionPay International Expands European Footprint with Strategic Partnerships and Enhanced Payment Network
  • China T-bond move seen safeguarding financial stability

Business China

  • Inbound Tourism Poised as Next Growth Engine for China's Service Sector
  • China sees 11.279m cross-border trips during the Labor's Day Holiday
  • Spring Festival Returns Ignite Service Consumption in Small Cities: Leisure and Entertainment Orders Up Nearly 30%
  • China's Auto Output and Sales Hit New Highs in 2025
  • China's record-breaking 45-trillion-yuan foreign trade volume in 2025

Real Estate

  • 21 Chinese cities tighten Real Estate Policy
  • LANZHOU NEW AREA new ghost town in China
  • Chinese invest $110 billion in US real estate
  • China's listed real estate companies post $461b of inventories for 2015
  • Beijing eases restrictions on foreigners buying apartments

Manufacturing

  • China to Build Seamless Asteroid Monitoring Network Covering Solar Blind Spots
  • Solar thermal power station in Jilin sets pace for cold climates
  • China-made C919 transports 5 million passengers in past 3 years
  • China's large drone FP-985 completes pioneering plateau logistics flight
  • China's NEV output tops 16 million units as exports double

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