GOTEBORG, Sweden - China's Zhejiang Geely Holding Group signed a deal with Ford Motor Co. here on [Mar. 28] to acquire the U.S. auto giant's Volvo car unit for nearly US$1.8 billion.

Narrated by Li Yining, collated by China Today staff reporter Liu Qiong
 
Li Yining is a well-known Chinese economist with an impressive set of responsibilities. Currently he is president of the Market Economy Academy of Peking University, honorary president of the Guanghua School of Management of Peking University (and its doctoral supervisor for work related to national economic policies), member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), and deputy director of the Subcommittee of Economy of CPPCC. Li Yining didn't start out thinking of himself as a "numbers guy." Born in 1930, his earliest career aspirations were to "bring salvation to the people through science" and "rejuvenate the nation through industry."

The Federal Reserve Bank of Minneapolis has named Dr. Kei-Mu Yi its director of research to replace Dr. Arthur J. Rolnick, who will retire July 31, 2010. Yi, currently vice president and head of Monetary and Macroeconomic Research at the Federal Reserve Bank of Philadelphia, will become senior vice president and director of research for the Federal Reserve Bank of Minneapolis on Aug. 16, 2010.

Reflecting a weak world economy, Minnesota’s manufactured exports were valued at US$3.7 billion in the third quarter of 2009. Exports fell by 17 percent (US$757 million) since the third quarter of 2008. U.S. exports fell by 21 percent.
 
Among the 20 largest exporting states (Minnesota ranks 20th), Minnesota had the fifth-smallest export decrease, behind Kentucky with the smallest decline (2 percent), and Texas, Indiana and Tennessee with the next-smallest declines (15 percent). Utah (14 percent growth to US$2.7 billion, ranked 26th) and Wyoming (4 percent to US$242 million, ranked 47th) were the only states to experience positive export growth during this period.

By Ding Qingfen, China Daily
 
Foreign direct investment (FDI) to China more than doubled in December, in the latest sign of economic recovery in the world's fastest-growing economy.
 
FDI skyrocketed by 103.1 percent from a year earlier to [US]$12.14 billion, compared to the 32 percent year-on-year growth in November, the Ministry of Commerce said on [Jan. 15].

By Greg Hugh, Staff Writer 
 
The first 2010 meeting of U.S.-China Business Connections (UCBC) held in January at the Metropolitan Community and Technical College in Minneapolis, Minn. was attended by a capacity group that filled the packed meeting room.

China Today’s editors predict how China will grow its economy in 2010
 
China Today Editor's Note: Since the beginning of 2008, China's GDP growth has shown a perfect "V" shape, indicating a solid recovery from the global economic slump. There is no doubt that China has achieved the goal of 8 percent GDP growth in 2009, but how will the economy grow this year? Our editors have made the top 10 forecasts for how China will grow its economy in 2010. 

COMMENTARY

By Louis Kuijs, Senior Economist, World Bank Office, Beijing 
 
Increasing the role of domestic consumption is one of the key objectives of China’s 11th Five Year Plan. China’s overall economic growth and development in recent decades has been truly impressive. However, it has been accompanied by some imbalances. A relatively low and declining role of consumption has been one of the key imbalances, together with increasing income inequality, intense use of resources and impact on the environment, and a rising trade surplus. The imbalances are largely an outcome of China’s capital-intensive, industry-led pattern of growth.  The 11th Five Year Plan (2005-10) aims at redressing the imbalances, in large part by adjusting the pattern of growth.

Search CHINAINSIGHT.info

Terms Of Use

Terms of Use All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without prior written permission of the publisher. For permission requests, contact the publisher, Terms of Use All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without prior written permission of the publisher. For permission requests, contact [email protected] with subject line “Permission request.”

About

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.

CHINAINSIGHT is the only English-language American newspaper to focus exclusively on connections between the United States and the People’s Republic of China (PRC).

Our goal is to develop a mutual understanding of each other’s cultures and business environments and to foster U.S.-China cultural and business harmony.