China Real Time Report: Beijing has lately stepped up its campaign against the country’s “fake news” scourge, with the General Administration of Press and Publications putting pressure on news organizations to dismiss journalists suspected of doctoring their stories. Ironically, the latest example of alleged news fakery comes from China’s own state broadcaster, CCTV.
In a development that could further inflame Hollywood’s frustrations with unauthorized reproduction of its intellectual property in China, Chinese netizens are accusing CCTV of repurposing footage from the movie “Top Gun” for use in a news story about an air force training exercise.
As noted yesterday by the blog Ministry of Tofu, the alleged IPR violation, spotted by Internet user “Liu Yi,” took place during a November 23rd evening news broadcast. CCTV has removed the clip in question from its website, but a copy of the broadcast posted on Chinese video sites does reveal some striking similarities.
January 30, 2011
Managers get set for rise of the renminbi
FT reports: More fund houses are rolling out funds and share classes denominated in renminbi, or contemplating the idea, as they look to profit from the Chinese currency’s likely rise against the US dollar and its importance on the world stage. Indeed, while investment choices are still scarce, the sweep of renminbi-denominated investments on offer already ranges from bonds and funds to certificates of deposit, currency swaps and insurance products.
Some fund managers argue that renminbi-denominated share classes of traditional funds are a superior play on the appreciation of the renminbi as they offer the chance to register a currency gain as well as a return on underlying investments higher than the inflation rate.
Just this month, Pharo Management UK revealed plans to become the first hedge fund manager to create shares in an investment vehicle denominated in renminbi. Investors in Pharo’s flagship fund do not have to hold renminbi as the fund’s administrator can handle spot exchanges into the currency. This underscores the extent to which the future of the US dollar and the rising power of the renminbi – dubbed the redback – are becoming concerns for investors.
“We think you should set up a renminbi share class for the same reason you might create a share class in euros or sterling,” says Peter Fegelman, a senior manager with Pharo. “Investors are looking to hold non-US dollar currencies and we do believe the renminbi will appreciate.
Some fund managers argue that renminbi-denominated share classes of traditional funds are a superior play on the appreciation of the renminbi as they offer the chance to register a currency gain as well as a return on underlying investments higher than the inflation rate.
Just this month, Pharo Management UK revealed plans to become the first hedge fund manager to create shares in an investment vehicle denominated in renminbi. Investors in Pharo’s flagship fund do not have to hold renminbi as the fund’s administrator can handle spot exchanges into the currency. This underscores the extent to which the future of the US dollar and the rising power of the renminbi – dubbed the redback – are becoming concerns for investors.
“We think you should set up a renminbi share class for the same reason you might create a share class in euros or sterling,” says Peter Fegelman, a senior manager with Pharo. “Investors are looking to hold non-US dollar currencies and we do believe the renminbi will appreciate.
Despite China’s illusive might, U.S. factories maintain edge
AP reports: U.S. factories are closing. American manufacturing jobs are reappearing overseas. China’s industrial might is growing each year.
And it might seem as if the United States doesn’t make world-class goods as well as some other nations.
“There’s no reason Europe or China should have the fastest trains, or the new factories that manufacture clean energy products,” President Barack Obama said in his State of the Union address last week.
Yet America remains by far the No. 1 manufacturing country. It out-produces No. 2 China by more than 40 percent. U.S. manufacturers cranked out nearly $1.7 trillion in goods in 2009, according to the United Nations.
The story of American factories essentially boils down to this: They’ve managed to make more goods with fewer workers.
The United States has lost nearly 8 million factory jobs since manufacturing employment peaked at 19.6 million in mid-1979. U.S. manufacturers have ranked near the top of world rankings in productivity gains over the past three decades.
That higher productivity has meant a leaner manufacturing force that’s capitalized on efficiency.
And it might seem as if the United States doesn’t make world-class goods as well as some other nations.
“There’s no reason Europe or China should have the fastest trains, or the new factories that manufacture clean energy products,” President Barack Obama said in his State of the Union address last week.
Yet America remains by far the No. 1 manufacturing country. It out-produces No. 2 China by more than 40 percent. U.S. manufacturers cranked out nearly $1.7 trillion in goods in 2009, according to the United Nations.
The story of American factories essentially boils down to this: They’ve managed to make more goods with fewer workers.
The United States has lost nearly 8 million factory jobs since manufacturing employment peaked at 19.6 million in mid-1979. U.S. manufacturers have ranked near the top of world rankings in productivity gains over the past three decades.
That higher productivity has meant a leaner manufacturing force that’s capitalized on efficiency.
Subscribe to:
Posts (Atom)
