Category: Economy (Page 3 of 6)

      Economy

      More Apple audits in China

      February 20, 2012 /

      Apple is ramping up audits of factories in China.

      Apple has told a prominent Chinese environmental activist that it will soon launch independent environmental audits of at least two suppliers’ factories in China, the activist said.

      The audits come as Apple faces mounting criticism about toxic pollution and factory injuries at overseas suppliers’ factories. The environmental reviews would be separate from an independent probe of working conditions at the China factories of Apple suppliers, including Foxconn Technology, that began last week.

      Ma Jun, founder of The Institute of Environmental and Public Affairs, told USA TODAY Monday in a phone interview that Apple agreed to the independent audits in late January in response to two reports that IPE and other environmental groups released last year documenting hazardous waste leaks and the use of toxic chemicals at suspected Apple suppliers.

      Apple’s image has taken a beating with the problems at Foxconn, so let’s see if this is a new trend.

      Economy, Human Rights, Labor, Manufacturing, U.S. Relations

      Use of apps explodes in China

      November 4, 2011 /

      Not surprisingly, use of apps is growing fast in China.

      China, represented by the red line, began the year ranked tenth in terms of app sessions, with 1.8% of all sessions tracked by Flurry. By April, China had climbed to fifth with 2.7% of all sessions, and, in July, overtook the United Kingdom to become the second largest country, with 5.4% of sessions. By the end of October, China had further grown to 7.3% of sessions. The U.S., which declined in sessoin-share over the year, finished in October with 47%. If both China and the U.S. were to continue along their respective trajectories, China could overtake the U.S. by the end of 2013, with both countries converging around 23% app session-share.

      The implications here are huge. Of course from a business point of view, sellers of apps have a huge opportunity in China. But it’s also important from a cultural point of view. The Chinese government wants to control its population by controlling information, but mobile apps present yet another source of information. Like the despots in the Middle East, the dictators in China will have to face a more educated and informed citizenry, and that will cause them problems.

      Censorship, Economy

      Infiniti puts headquarters in Hong Kong

      November 3, 2011 /

      Executive Vice President Andy Palmer announces that Nissan will establish a global headquarters for Infiniti in Hong Kong from April 2012. This is a big move for the automaker and demonstrates the huge importance of the Chinese car market, particularly for luxury brands like Infiniti.

      Economy, Trade

      The shadow banking problem in China

      October 23, 2011 /

      With all the massive growth in China, there are serious problems below the surface. The basic problem is that the huge national and local governments are corrupt and cronyism rules. This has led to huge real estate loans that make little sense.

      Meanwhile, small businesses who legitimately need capital have to resort to a shadow banking system, and that poses a whole new set a problems. The Chinese government is trying to address the issue.

      Risks stemming from China’s shadow banking system and private lending must be “strictly controlled,” and such loans will be curbed, the head of the nation’s banking regulator said.

      Loans to local government financing vehicles and the real- estate industry, which also pose dangers for the banking system, can be managed, Liu Mingkang, chairman of the China Banking Regulatory Commission, said at a conference.

      The government and regulators have already implemented “effective measures” that will ensure the overall risks are “controllable,” Liu said, according to a transcript of his speech posted on the regulator’s website yesterday.

      Premier Wen Jiabao last week pledged to support smaller companies after media reports highlighted a credit squeeze that has driven many businesses to the so-called shadow banking system to obtain loans. More than 80 businessmen in the eastern city of Wenzhou have disappeared, committed suicide or declared bankruptcy to avoid repaying debts to informal lenders, the official Xinhua News Agency reported on Oct. 12.

      The story in China is much more complicated than you would learn from conventional wisdom and simple headlines.

      Domestic Politics, Economy

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