By Shen Hongle, China Today

China and its 1.3 billion people have created enormous wealth for the world. It has the world's second largest GDP, which is fueled by strong domestic demand, an asset that protected the country from the impact of the global financial crisis and elevated its role in world economic recovery. Of course, China's GDP per capita is only a tenth of that of the U.S., ranking only the 102nd in the world. But the affluent classes here have astonished the world with their strong purchasing power. "Buy a house in the U.S., or settle in Australia": This used to be the standard advice circulating in some privileged groups, but now it's a common debate within the rapidly expanding middle class. A Chinese businessman spent US $33.2 million on a 500-square-meter apartment in April 2009, setting a new record on the New York real estate market. Some foreign media have commented: "Made in China" has a brother –"Bought by China."

By Tang Zhihao, China Daily

BEIJING - The consumer electronics retailer Best Buy said on Tuesday that it will close its retail headquarters in Shanghai, along with nine of its stores in China.

BEIJING - China's consumer price index (CPI), a major gauge of inflation, rose to a 28-month high of 5.1 percent in November, the National Bureau of Statistics (NBS) said [Dec. 11].

China is a key market for U.S. exports. Those exports are generating jobs in every corner of the United States and across every major sector. These involve some of our country's largest companies, but also an increasing number of small and medium-sized enterprises. 

By Greg Hugh, Staff Writer

The December meeting of U.S.-China Business Connections featured Shean Ferrell, Managing Partner of Pellegrene, Ferrell & Associates, speaking on U.S. Retail and China Manufacturing, Operating a lean company to drive maximum retail sales and profitability.

Op-Ed Commentary: Chris Devonshire-Ellis

Sept. 20 – China is facing increasing competition from other Southeast Asian nations as regional growth both expands and creates alternative investment markets.

By Yu Yongding and Fu Yu, China Daily

China's trade surplus climbed in July to its highest level in 18 months, raising new questions about whether the country's currency remains undervalued despite government efforts to introduce a more flexible exchange rate. Chinese officials claim the pace of reform and appreciation is gradual and controllable, but nonetheless the United States Congress has pushed to pass measures penalizing Chinese exporters, especially as the November midterm elections approach. Yu Yongding, an academician of the Chinese Academy of Social Sciences and former member of the Monetary Policy Committee of the People's Bank of China, recently spoke on currency reform and the trade balance between China and the U.S. in an interview with China Daily reporter Fu Yu.

By Kelly Chung Dawson, China Daily
 
NEW YORK -Despite an increase in Chinese exports in the first half of the year, experts are predicting a weak Christmas season for imports to major U.S. department stores.

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CHINAINSIGHT (CI) is published monthly ((except July/August and November/December are combined) by China Insight, Inc., an independent, privately owned company started in 2001 and headquartered in the Twin Cities area of Minnesota.

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