Weekly Wrapup: Bank Irregularites, West to Blame for China’s CO2, Pink Slips, and 35% of Grads Employed

Friday, February 27, 2009 7:43
Posted in category The Big Picture

With so much going on in China, and only a limited amount of bandwidth, I have created this weekly post to highlight articles that I feel are (1) important, (2) relevant, and (3) interesting.

This week there are 4 articles that I have chosen to highlight as each are quite interesting, they are all relevant, and there are issues within each that I think you the reader should be aware of.

If you have an article that you feel needs to be mentioned, please do so in the comments section.

NAO: Three National Banks Involved In Illegal Conduct
Industrial and Commercial Bank of China, Bank of China, and China Construction Bank have all been involved in irregularities during the recent shareholding reforms.

Gee… who would have thought?

China’s increasing carbon emissions blamed on manufacturing for west
This story, although an old one, is garnering a lot of attention lately and is one that I think many need to consider. For myself, I can see the need for there to be a recognition of the fact that the West has benefited in many ways from opening up factories in China, and being able to reduce their environmental equipment budget is one of them.

Pink slips hit where it hurts the most
A lot of people out there would like to believe that China is rebounding, that people are enjoying the fruits of 15 years of expansion, and that China will fare better than others.

Wrong.

More and more, my friends are growing concerned about jobs, and more specifically losing their jobs. Freezzes began a year ago, but with EYI and others announcing furloughs and others preparing layoffs, the fear is only growing among the middle class

… and yes, this is occurring on the east coast too

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One Response to “Weekly Wrapup: Bank Irregularites, West to Blame for China’s CO2, Pink Slips, and 35% of Grads Employed”

  1. Jay Boyle says:

    February 28th, 2009 at 12:00 am

    Regarding environmental laws:

    China’s laws are in many ways more strict then the USA’s the problem is there is a double standard of enforcement. One for Foreign companies and one for local companies.

    I would argue that the environmental issues are more to do with corruption and local protectionism than with the law.

    Jay