Island controversy, China as a jobs' bogeyman, coal mines, lower forecasts, automotive dealer plight, and iPads for students.
Noda, who is scheduled to make a speech to the United Nations General Assembly this week, addressed reports that Japanese companies are facing economic harassment in China, telling the Journal that "recent delays in customs and visa issuance are of concern." He said damaging economic ties between the two nations could hurt the global economy.
For the second time in as many weeks, Mitt Romney's campaign released a new television ad blasting President Barack Obama as weak against China on trade. "Fewer Americans are working today than when President Obama took office," the ad's narrator says. "It doesn't have to be this way. If Obama would stand up to China."
As I post previously today, China isn't the problem when it comes to American jobs. I guess China's still the jobs' bogeyman (for both candidates). Oh well.
Three separate coal mine accidents over the weekend left 22 miners trapped in northeast and east China, according to local government sources. Eleven people were trapped after a fire broke out Saturday morning in a coal mine in northeast China's Heilongjiang Province. The accident that occurred at the Longshan coal mine in Youyi County of Shuangyashan City was previously reported to have happened on Sunday as a result of the mine owner's attempt to cover up, the rescue headquarters said.
China’s GDP growth outlook was cut to 7.5% from 8%, while Japan’s forecast was lowered to 2%, South Korea’s cut to 2.5%, and Singapore’s trimmed to 2.1%, the credit-rating firm said in a statement. “Our lower forecast for China recognizes that the central government had elected not to inject an economic stimulus of a size and speed necessary for an 8% growth rate,” S&P credit analyst Andrew Palmer said in the statement.
Car dealers nationwide have begun to experience life in the slow lane after government policies to spur sales ended last year. Also putting the brakes on sales were ownership restriction rules starting in late 2010 that were intended to ease traffic congestion in cities such as Beijing and Guangzhou. In addition, the economy has slowed this year, exacerbating the plight of dealers. "For some car brands, we have inventories on hand of up to four months worth of sales," Pang Qinghua, chairman of Pang Da Automobile Trade Co. Ltd. said. "The normal stockpile lasts for one and a half months."
And the schools are making sure the students are focused on homework, too, by locking out popular social networking apps and other time wasters.