If only I could eat sausage and hamburger
If only I could eat sausage and hamburger
There has been a seeming explosion of articles in Western blogs about this new McDonalds hamburger that features two sausages and two hamburger patties. It must exist because there are photos of the ads but I certainly haven't seen any at the local McDonalds here in Shenzhen. Maybe it's only being offered in a certain region? Or are the testing it in certain locations before expanding the offering? It's not around yet, but I'll keep my eyes open.
Rescue workers at the site of the deadly landslide in Yunnan province.
Rescue workers at the site of the deadly landslide in Yunnan province.
Landslides, pollution, Ford, EU legal disputes, the wedding market, and economic optimism.
1. Earthquakes behind China landslide that killed 46: expert
A landslide in southwest China that killed 46 people was partly caused by an earthquake that hit the region four months ago, a geological expert said on Saturday.
Unstable soil and steep slopes also contributed to Friday's landslide in Yunnan province, the state-run news agency Xinhua quoted Jiang Xingwu as saying.
Wiped out an entire village.
2. China hit by extreme air pollution
After weeks of record-breaking cold, accompanied by clear, dry skies, the weather turned warmer late Thursday. By the weekend, many of the pedestrians in Beijing were wearing face masks. On Saturday, the Children's Hospital of Beijing reported 900 children treated for respiratory problems. Hospitals also reported sharp increases in the number of older patients who were having difficulty breathing.
Wow.
3. Ford Keeps Rolling In China
Ford's success in China is important because growth in China is absolutely key to Ford's long-range global plan. The company has said that it expects 70% of its overall growth to come from Asia and Africa by the middle of the decade -- much of that from the Chinese auto market, now the largest in the world.
Ford was very late to the Chinese auto party, arriving years after rivals such as General Motors , Volkswagen , and Toyota had established major presences in the Middle Kingdom. Many analysts questioned whether the company would be able to win significant market share in the face of such strong, established competition.
I think the new Ford Fusion will do well in China.
4. China shoe exporters stand tall with EU victory
The legal dispute began in 2006 when 150 Chinese companies appealed an EC decision to slap a 16.5% anti-dumping duty on all Chinese and Vietnamese-made shoes made of leather imported by European trading companies and sold in EU countries.
5. Love in China: Navigating an $80 Billion Wedding Market
Understanding the interplay of how Chinese are embracing foreign traditions or holding on to old customs related to dating and marriage is essential for marketers. Each year in China more than 10 million couples marry, creating an industry estimated at $80 billion annually with strong ties to retail, fashion, jewelry, travel and tourism, financial planning, real estate and household purchases.
6. China Is Cause for Optimism on World Economic Pickup, Swan Says
China’s economic recovery is a sign that global demand will improve this year, Australian Treasurer Wayne Swan said ahead of a visit to Hong Kong where he will speak today at the Asian Financial Forum.
“I’m optimistic that 2013 will be a better year for the global economy,” Swan said yesterday in his weekly economic note. “One cause of optimism is recent evidence that China’s economy appears to be stabilizing after economic conditions moderated in 2012.”
Hmm... what's this?
Hmm... what's this?
That was fast, considering Apple can barely keep the 16 GB wifi models in stock in their American stores. Something tells me Apple might agree with my previous hypothesis. I'm tempted to roll by the Beijing Sanlitun Apple Store on the morning of the 7th but it's a dangerous proposition. Based on personal experience (wink wink), I can tell you this is a good product that's going to continually sell out on the mainland for months (if not the year) to come.
U.S. Secretary of State Hillary Rodham Clinton and Chinese Foreign Minister Yang Jiechi. Photo from Feng Li, Pool / AP by way of SF Gate
U.S. Secretary of State Hillary Rodham Clinton and Chinese Foreign Minister Yang Jiechi. Photo from Feng Li, Pool / AP by way of SF Gate
Auto sales numbers, buying of US entertainment assets, and Clinton's China visit.
1. China Slowing Auto Sales Still Eclipse US-Japan-China
Three years ago, China passed the U.S. as the world’s biggest car market. By 2015, it will likely exceed the U.S., Japan and Germany combined -- and that takes into account the current economic slowdown.
2. Wanda of China set to buy more US entertainment assets
Fresh on the heels of spending $2.6 billion to buy AMC Entertainment, the nation's second-largest theater chain, Chinese conglomerate Dalian Wanda Group is poised to make more acquisitions in the U.S. entertainment industry.
3. Clinton, China haven't narrowed gaps on Syria, sea
Clinton had been scheduled to meet Vice President Xi Jinping, who is expected to take over as China's top leader later this year, but that was canceled by the Chinese for "unexpected scheduling reasons," State Department spokeswoman Victoria Nuland said. A meeting between Xi and the visiting prime minister of Singapore, Lee Hsien Loong, also was canceled without explanation.
The Georgetown Hoyas and Bayi Rockets brawl during an exhibition game in 2011.
The Georgetown Hoyas and Bayi Rockets brawl during an exhibition game in 2011.
The UCLA Bruins are in China. I think it's great US collegiate teams are coming here and playing their Chinese peers. Should be a good experience for them. Hopefully they won't follow Georgetown's lead (though to be fair, it wasn't entirely the Hoyas' fault).
WTO ruling, IMF forecasting, and UN urging.
1. Visa Among U.S. Firms Seen Helped by WTO Ruling on China
WTO judges in Geneva yesterday agreed with the U.S. that China unfairly discriminates against foreign suppliers of electronic-payment services by imposing requirements on them that aren’t applied to domestic companies. They rejected the U.S. argument that China UnionPay Data Co., the world’s fastest- growing bank-card network, monopolizes the handling of domestic- currency payment-card transactions.
“It is definitely a mixed bag for both parties,” Scott Lincicome, an attorney at White & Case LLP, said in a phone interview. “The one thing we can safely say for sure is that both sides are going to appeal.”
2. It's not looking good for global growth, even in China, says IMF
The forecast for 2% growth in the U.S. this year and 2.3% next year were also scaled down from previous estimates. China’s economy is expected to swell a whopping 8% this year and 8.5% in 2013, but both of those forecasts are lower than previous ones. The same is true for for India’s forecasts of 6.1% expansion for 2012 and 6.5% for 2013, both slashed 0.7 percentage points.
3. UN head visits China seeking tough action on Syria
U.N. leader Ban Ki-moon was headed to China on Tuesday amid alarm over the spiraling violence in Syria and a diplomatic push to get Russia and China to back a tougher response to attacks by President Bashar Assad's regime. Ban's trip comes ahead of a U.N. Security Council vote this week on whether to allow sanctions and military intervention in Syria if Assad's regime or insurgent forces fail to comply with a U.N. peace plan. Russia and China have blocked previous efforts to sanction Syria.
It seems this US Olympic uniform controversy won't simmer down.
1. "China-Made" Goes Far Beyond Olympic Uniforms
"It’s a huge gaffe in terms of support for the United States," said John Greening, a professor of marketing at Northwestern University.
Greening said Team USA tarnished its brand by outsourcing items which could have been made here.
"It may not have been [made at] the lowest price, but it would have been at an acceptable price, and it would have been consistent in believing the things that ‘Brand USA’ stands for,” he said.
Patrick Sandusky, a spokesman for the United States Olympic Committee, would not speak directly to the findings concerning the Team USA store items.
What does 'Brand USA' stand for, anyway? And what is an acceptable price? The US Olympic Committee is already severely strapped for cash and is competing against a juggernaut of a Chinese Olympic team with huge government funding and massive resources (not to mention their ability to handpick athletes from a population of 1.3+ billion and train them from childhood).
Do Americans really want a greater percentage of the little money the USOC has to be allocated towards producing all its merchandise in the US or is there real value in having the products produced more cheaply in China, thus freeing up money to support the actual athletes? Let's be real for a second - the US uniforms aren't being produced by Li-Ning or Erke; they're being produced by Ralph Lauren, an American company that has continued to support the US Olympic Committee and has committed to supporting them in the future. If Ralph Lauren really is a villian, then how many American companies are left that aren't villians?
Producing merchandise in China is cheaper than producing it in the US. Less money spent producing merchandise means more money available to put towards our athletes. Cheaper production means more profit on sold merchandise, meaning more money available to put towards our athletes. These are all equations I'm fine with. At the Olympics I'd rather America show how great it is by our athletes winning gold medals, not by proving that we too can manufacture quality berets and blazers.
Just my thoughts. Anyone disagree? Let me know.
By the way, not a great time to have the last name Sandusky.
More (yawn)...
2. Why 'Made In China' Is Gold For US Olympic Team
The quite remarkable thing about America's medal success in the Summer and Winter Olympics is that, unlike China or Russia or Great Britain or Germany – basically every top Olympic nation on earth – the USOC gets no money from the government. While China is harvesting farms girls from remote provinces to be canoeists, gymnasts, and weightlifters – training them in state-owned facilities and paying top dollar to lure top coaches – the USOC is panhandling on the doorstep of corporate America.
Ralph Lauren? NBC? Visa? McDonalds? They are the lifeblood of American Olympic success because they pay to be associated with the brand. Reid's office probably isn't even on the USOC's speed dial.
3. White House, Romney Don't Condemn 'Made in China' US Olympic Uniforms
President Obama’s spokesman felt the same way [as Romney did] earlier in the day.
“Maybe for future Olympics, those kinds of things should be considered,” deputy White House spokesman Josh Earnest told reporters aboard Air Force One en route Norfolk, Va., this morning.
“The United States Olympic Committee has said that they are a—they are privately funded. This isn’t a government decision,” he said.
4. Ralph Lauren To Make 2014 Olympic Uniforms In US
In response to the controversy, Ralph Lauren Corp. announced Friday that it was committed to producing Team USA uniforms for the 2014 Winter Olympics in America.
"Ralph Lauren promises to lead the conversation within our industry and our government addressing the issue of increasing manufacturing in the United States," the company said.
5. Ralph Lauren Should Apologize for 'Made in China' Uniforms: A Fan's Take
I'm not a fashion critic, but the beret, come on Ralph, it… is… awful! Polo is preppy, that's no secret, but the beret is taking the preppy look to an uncharted and ridiculous height.
Lots of "7.6's" in the news today.
1. China's economic growth slows to 7.6%
China said its economy grew 7.6% in the second quarter compared with a year earlier. It was the weakest pace of expansion in three years but in line with analysts' expectations.
Declining investment in real estate and infrastructure as well as shrinking exports to Europe and the U.S. have contributed to the slowdown in the world's second-largest economy.
2. Global stocks up as China growth slows as expected
Other analysts expect Chinese growth to continue to slow as consumer demand fails to keep up with industrial production capacity. China's GDP will likely average about 6 percent growth a year during the next five to 10 years, said Anil Gupta, a professor at the Smith School of Business at the University of Maryland.
3. Why China's growth data failed to spur rally in stocks
Diane Lin, Fund Manager at Pengana Capital agrees, adding that the biggest concern at the moment is a risk of a delayed response from the Chinese government that could lead to a further weakening of the economy and earnings.
Other economic indicators released alongside the GDP data pointed to a pick-up in growth. China’s fixed asset investment, which is watched as an indicator of construction activity, grew 20.4 percent in the year to June, compared to expectations for a rise of 20 percent.
Following the announcement of record Rolls-Royce sales in China, Audi now says China as become its biggest market:
Audi is forecasting that it will sell 250,000 cars in Germany in 2012. Like its German competitors Mercedes-Benz and BMW, Audi is pinning its hopes on China for rapid growth, as it sees more traditional markets lose strength amid the eurozone debt crisis.
So how long before every car maker in the world announces China as their biggest market?
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