Wen Jiabao speaks, 36 die in a bus crash, China-Japan relations degrade, and Chinese manufacturing numbers continue to disappoint.
China’s Premier Wen Jiabao urged extra measures to support exports and help meet economic targets as a decline in industrial companies’ profits added to evidence that the nation’s slowdown is deepening.
At least 36 people died when a double-decker sleeper bus hit the back of a methanol tanker and burst into flames on Sunday in China's worst traffic accident in more than a year.
Tensions in the waters surrounding China and Japan have risen to an all-time high. Now, Japan, China, and South Korea are butting heads over Takeshima Island, in the Sea of Japan.
Thursday’s release of the Flash PMI stunned analysts. Earlier, most of them had confidently predicted China would show signs of growth in July because of Premier Wen Jiabao’s late-spring stimulus program. There was, however, no uptick last month. In fact, July’s indicators were extremely disappointing.