25 Jun

Chinese consumer confidence slips

Chinese consumer confidence slips   By Hu Yuanyuan (China Daily)   BEIJING – Chinese consumer confidence slipped 3 points to 105 in the second quarter. It’s the first decline this year and comes amid concern over growing inflation, according to a report by The Nielsen Co released on Tuesday.  Despite the decline, however, China continues to enjoy solid consumer confidence compared with other countries.  Consumer confidence levels above and below a baseline of 100 indicate varying degrees of optimism and pessimism.  Global consumer confidence declined to [...]

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25 Jun

American manufacturing Sticking it to China

American manufacturing Sticking it to China   A factory in rural Georgia helps East Asia eat   ASK someone to write down all the differences between China and rural Georgia and his hand will fall off before he’s halfway done. So let us restrict ourselves to the vista: cranes, skyscrapers, spanking new rail networks and smog: China. Barbecue restaurants, red clay and trees: Georgia. And whereas most rural Georgians are surviving quite well, thank you, without skyscrapers and subways, Chinese diners, who go [...]

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25 Jun

Moody’s cuts Japan rating to Aa3

Moody’s cuts Japan rating to Aa3   TOKYO – Moody’s Investors Service cut its rating on Japan’s government debt by one notch to Aa3 on Wednesday, blaming large budget deficits and a buildup of debt since the 2009 global recession.    The ratings agency also warned that frequent changes in Japan’s government have hampered its ability to tackle the problem of bulging debt as Tokyo prepares for its sixth leader in five years.    “Over the past five years, frequent changes in administrations have prevented [...]

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25 Jun

Print and Packaging Companies Are at War With Each Other

Print and Packaging Companies Are at War With Each Other     CONCORD, Calif., Aug. 18, 2011 /PRNewswire/ — As millions continue to be unemployed, print and packaging companies contract hired guns to steal employees from their competitors. The trend has reached a furious pace with requests for people doubling. Rather than working to transition new people into the industry, companies pay big fees to firms to steal their competitors’ best employees. The aging printing industry and the charge towards digital technology [...]

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25 Jun

Drives make headway in the packaging industry

Drives make headway in the packaging industry     The profit margins associated with the implementation of electric drives will see them experience widespread acceptance in the European packaging industry over the next seven years, according to recent analysis from Frost & Sullivan.   “The need to maximise profit margins, while maintaining the competitive pricing of the end product, is motivating the implementation of drives in the packaging production line,” said Frost & Sullivan research analyst Ramasubramanian N. Rising energy costs have impacted the [...]

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25 Jun

China flash PMI rises in August

China flash PMI rises in August   HSBC’s China Flash PMI showed the Chinese factory sector may have slowed slightly in August from July as new orders and new export orders eased on languid overseas demand.    The flash Purchasing Managers’ Index (PMI), designed to preview China’s factory output before official data, edged up to 49.8 in August, from July’s final reading of 49.3.    That leaves the index a touch under the 50-point mark that demarcates expansion from contraction in economic activity. HSBC publishes [...]

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25 Jun

Euro zone crisis will hurt China’s real economy

China state media: Euro zone crisis will hurt China’s real economy   China’s top official newspaper, the People’s Daily, says the debt crisis across the Euro zone will have a far-reaching impact on China’s real economy, mainly by sapping demand for exports. But it goes on to say, holdings of euro assets will limit any damage to foreign exchange reserves, as China holds a relatively small amount of euro assets.   The article says the euro zone’s problems reflected deep-seated institutional failings that [...]

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25 Jun

Trade balance possible next year

Trade balance possible next year   Updated: 2011-08-23 07:39 By Hu Yuanyuan (China Daily)   BEIJING – China may achieve a trade balance next year, as weakening demand from the US and the EU will hit exports while imports are set to grow, an official from the country’s top think tank said.     State Councilor Dai Bingguo (second right) meets former UN under secretary-general Akashi Yasushi, the leader of the Japanese delegation to the 7th Beijing-Tokyo Forum, on Monday. Wang Chen (third right), minister of the [...]

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25 Jun

China’s yuan advances to 6.3925 against USD

China’s yuan advances to 6.3925 against USD  Updated: 2011–08–16 11:19   The Chinese currency renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per US dollar on Tuesday, according to the China Foreign Exchange Trading system.     In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted average [...]

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