The Chinese stock market is going through a serious correction, and it’s dragging down U.S. stocks as well.

Posted by Gerardo Orlando as Economy, Monetary Policy, Trade, U.S. Relations at 6:04 pm

News Corp. not doing well in China:

Not sure if this was Murdoch trying to manage expectations but he was emphatic about the difficulties News Corp. faces in China, especially with MySpace. “We don’t do very well in China. … All I would say there is that nobody—and I challenge anyone to argue this—nobody, none of the American media companies or British media companies have made any impact there yet. … It is a vast market, but it is certainly a very, very sensitive one and as we have seen what happened to Google there and what happened to eBay there, it is very difficult, even to—to Yahoo, it is a very difficult market for outsiders.”

Posted by Gerardo Orlando as Economy, Trade at 10:48 am

According to Forbes, the online community in China is exploding, growing to No. 2 behind the United States.

A fast-expanding online population, estimated to hit 136 million by the end of 2006, has been the engine behind China’s explosive growth in the Internet industry despite the government’s water-tight control of the content that can be made public online.

This growth in the nation’s Internet population–now the world’s second largest behind the U.S.–has driven a 47% surge in total online spending, to 276.8 billion yuan ($35.5 billion), according to a comprehensive annual survey released by the Beijing-based Internet Society of China, a national industry business association.

Posted by Gerardo Orlando as Culture, Economy at 10:37 am