Why do Chinese banks, swimming in savings, invest in U.S. Treasury bills when rates of return are far higher at home? The answer may lie in disparity among Chinese firms in productivity and access to credit
By Douglas Clement, Editor, The RegionIn recent decades, few phenomena have been as globally significant as China’s astonishing economic transformation. Over a matter of years, it has transitioned from a poor nation dominated by small farmers and enormous, plodding state-owned enterprises into a dynamic economy where private companies shape international markets and annual GDP growth surges past expectations. As this is written, economists predict that China will soon eclipse Japan as the world’s second-largest economy, and it is arguably only a matter of time before the United States, too, places second.
Paul Krier to speak at UCBC meeting on April 7
WASHINGTON, D.C. – In a speech on the Senate floor [Mar. 15], U.S. Senator Amy Klobuchar called for the passage the Export Promotion Act of 2010 and the Travel Restriction Reform and Export Enhancement Act of 2010. In her remarks, Klobuchar discussed how the legislation will connect businesses with export promotion resources to allow them to expand into new markets and increase their bottom lines. Klobuchar cited that more than 95 percent of the world’s customers are located outside the United States, and recently, 30 percent of U.S. businesses indicated that they would be interested in exporting but did not know where to begin.
Utah Governor Jon Huntsman resigned on [Aug. 11] to become new U.S. ambassador to China. Huntsman, 49, was sworn in as ambassador to China in Salt Lake City, capital of Utah, shortly after his resignation as governor. Utah Lieutenant Governor Gary Herbert immediately took control of the state although he did not take an oath of office until later [that day].