China

Monday

Clarissa Tan

Would you prefer to do business with the eurozone or China?

Does it really matter now whether the eurozone breaks up or not? The damage may already have been done, in terms of business confidence. A £10 billion bailout for Cyprus has been agreed, but nobody will forget that its people woke up one morning to find their bank accounts raided — something you don’t hear of happening even in developing countries. At the height of the confusion, Britain had to send out cash on a plane to its troops in Cyprus so they wouldn’t be deprived, a bit like a UN mission plopping food packets over stricken areas. The buzz is that Russian billionaires may now stage some sort of

Wednesday

Samantha Kuok-Leese

The world has yet to see the best of Chinese literature

– Hong Kong  Imagine if every British novel published since the 1940s was about the Second World War. That’s about as accurate a view of contemporary China held by readers in the Anglophone West, say experts here. On the eve of this year’s Man Asian Literary Prize announcement, it’s worth considering why that’s still the case. The prize celebrates Asian literature written in, or translated into, English. While eligible authors span the continent from Japan to Iran, all previous winners have come from East Asia, and three out of those five from China. Harvey Thomlinson, a Hong Kong-based publisher, also had a mission to highlight quality Chinese literature in English

Thursday

Alexander Chancellor

Edinburgh Zoo and the great panda racket

If you have nothing to do, are suffering from stress, and wish to be rendered comatose, I recommend that you get interested in the efforts being made by Edinburgh Zoo to mate its two giant pandas. The zoo has thoughtfully installed video cameras in the pandas’ enclosure so that we can constantly watch them online and marvel at their sloth. I had my laptop tuned to the ‘Panda Cam’ throughout the weekend and checked it from time to time to see what the pandas were up to. The answer was never anything at all except for sleeping or eating. Often there was no panda in camera shot; but when there

Martin Vander Weyer Martin Vander Weyer

Europe’s cap on bankers’ pay is merely a harbinger of the Great Persecution to come

‘Possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire,’ was Boris Johnson’s assessment of the proposal to cap bankers’ bonuses at 100 per cent of base salary, or 200 per cent with shareholders’ approval. This blunt exercise in market interference was tabled by a committee of MEPs led by a British Lib Dem, Sharon Bowles (perhaps in revenge for the fact that she didn’t win the Bank of England governorship, for which she applied) as a condition of agreeing a new set of bank capital reforms. With the support of all member states other than the one

Thursday

Julia Lovell

The curse of the mummy

The former Soviet Union is so down on its economic luck that it can no longer maintain Lenin’s embalmed body. A brash official from rural China called Liu Yingque decides to buy the deteriorating corpse, create a red tourist attraction in his own county, and so make the area rich beyond its wildest dreams. Liu’s only difficulty is finding the millions of yuan necessary to purchase Lenin. He soon hits upon a solution: he recruits a performing troupe from nearby Liven, a village in which every resident is disabled in some way, and dispatches them on a nationwide fundraising tour. The travelling freakshow — featuring deaf-mutes exploding firecrackers next to

Tuesday

Alex Massie

Europe’s defence budgets may not be noble, but they are at least rational

Gideon Rachmann is unhappy that european defence budgets are still falling: Since 2008, in response to the economic downturn, most big European countries have cut defence spending by 10-15 per cent. The longer-term trends are even more striking. Britain’s Royal Air Force now has just a quarter of the number of combat aircraft it had in the 1970s. The Royal Navy has 19 destroyers and frigates, compared with 69 in 1977. The British army is scheduled to shrink to 82,000 soldiers, its smallest size since the Napoleonic wars. In 1990 Britain had 27 submarines (excluding those that carry ballistic missiles) and France had 17. The two countries now have seven and six respectively.

Saturday

Rod Liddle

Syria exposé shows the BBC at its best

Superb piece of journalism on the BBC News from Lyse Doucet. A horrible story, of some appalling mass murder in Syria – told calmly and bravely; unpartisan, questioning and undoubtedly exposing the team to danger, for our benefit. The very best of journalism. You can see it here. Actually, the piece which followed Doucet’s wasn’t bad either – a fine report from Damian Grammaticus on the Chinese economic slowdown as seen from the ghastly city of Wuhan. I mention this because the corporation isn’t simply a handy base for collective noncing, overpaid middle managers and political bias. I write about that stuff often enough, probably too often, because if the

Tuesday

David Blackburn

Mo Yan’s malignant apology for ‘necessary’ censorship

The Chinese writer Mo Yan collected the Nobel Prize for Literature last night. In his acceptance lecture, he reiterated his view that a degree of censorship is ‘necessary’ in the world, and compared it to airport security. The comparison is utterly base. Airport security is a fleeting restriction on personal liberty; a social contract entered into freely by making the decision to travel by air. Censorship is a legal mechanism imposed on entire societies by a self-appointed oligarchy that maintains itself by persecuting and prosecuting individual transgressors. Mo Yan’s logic is as flawed as his apology is malignant. Having said that, his enthusiasm for censorship was quite restrained on this occasion: he told Granta recently that

Thursday

Clarissa Tan

The indebted superpower: China

Not only the US, but China is gearing up to welcome a new President, in its case Xi Jinping. That’s not the only similarity between the two global powers. While nothing can beat America’s critical levels of debt (watch the media leap like lemmings over the term ‘fiscal cliff‘), the Middle Kingdom isn’t doing too shabbily at clocking up credit of is own. It’s a bit of a myth that Easterners love to save, as a report today from Standard Chartered shows. The explosion of a middle class means consumers want their shiny goods, and they want them now. China’s new leader will inherit an economy that’s 30 per cent more leveraged

Thursday

David Blackburn

The politics of the Nobel Prize for literature

The Nobel committee have delivered their verdict on the literature prize: Mo Yan is new laureate. Over at the books blog, I explain why this is an important decision politically. Yan is the first Chinese citizen to win the award, a reminder that the country’s culture influence is growing together with its political and economic power. In that sense, the award has recognised that we are living in a new age. Yan’s books have been banned from time-to-time by the Chinese authorities, but he is accused by many of being too close to the party line. Several human rights activists are appalled that he has won the prize. However, others

David Blackburn

Mo Yan wins the Nobel Prize for Literature

The new Nobel laureate is Mo Yan, a Chinese writer. He is the first Chinese citizen to win the prize, and doubtless will become the first of many as China’s cultural ascent matches its economic boom and political prominence. I must confess that I’ve never read anything by him, and I suspect that I’m not alone. The big chief at the Nobel academy, permanent secretary Peter Englund, suggests that we start with Yan’s novel, The Garlic Ballads. The Guardian has helpfully linked to this New York Times review of the novel. His novel Big Breasts and Wide Hips also seems to be a popular choice on the wires, and not

Thursday

Emily Rhodes

China bans Haruki Murakami’s ‘1Q84’: George Orwell would have seen the irony

Books – or lack thereof – are the latest manifestation of anti-Japanese sentiment in China. The escalating dispute over the Senkaku/Diaoyu Islands has provoked some Beijing bookshops to remove Japanese books from their shelves. The most prominent book to be made to disappear is Haruki Murakami’s recent novel 1Q84, a critically acclaimed worldwide bestseller. Rather ironically, given the circumstances, the title echoes Orwell’s 1984 – in Japanese, ‘Q’ and ‘9’ are homonyms. Orwell has an uncanny knack of turning up at the choicest moments. Remember the glitch in July 2009 when Amazon deleted 1984 from everyone’s Kindles? People were startled by the realisation that Amazon could remove a book from

Wednesday

Humphrey Hawksley

Hot War in the South China Sea?

Like the deserts of the Middle East, the barren islands of the South China Sea now loom as a new theatre of war.  Asian countries, indeed America, too, are at odds over how to deal with this power-play by a rising China — if that’s what it is; or scramble for maritime minerals; or as recently witnessed in Chinese cities a resurgence of nationalism and loathing of Japan. The South China Sea brings in China, Japan, Vietnam, Indonesia, Malaysia, the Philippines, little Brunei and unrecognized Taiwan. They represent the glittering success story of the developing world, the Tiger economies, the shared goal of wealth and education, the peaceful transitions to democracy

Sunday

Ross Clark

Sinophobia, the last acceptable racism

The Chinese have excelled at London 2012, much to the annoyance of their Western rivals. In this week’s issue of the Spectator, Ross Clark argues that the claims against swimmer Ye Shiwen reflect irrational suspicion of her country. Here is an edited version of Ross’s article (you can read the full version here): The story of London 2012 has been that of a country which was once an underachiever in the Olympics but which, through sheer hard work on the part of its athletes, has hauled itself to the top of the medals tables, producing in the process one of the most dramatic world records in Olympic history. I refer,

Thursday

Sebastian Payne

The View from 22 — Unionist gold and the coalition’s new economic strategy

Have Alex Salmond’s hopes for Scottish independence died, thanks to the Olympics? In this week’s cover feature, Iain Martin writes that the national pride and spiritual unification emanating from the 2012 games have finished off the SNP’s hopes of a break from the union. On this week’s View from 22 podcast, Iain recounts when he first realised Salmond had a serious problem: I was sitting on Friday and Saturday on the shore of Loch Fyne in the Highlands watching Team GB do these extraordinary things. I felt a wonderful feeling of togetherness and it seemed to me that it was the perfect riposte to narrow nationalism and the peevish attitude of

Tuesday

Paul Ormerod

Who will rule the 21st century?

This is a nice big question to ponder on the holiday beach or in the rented villa. A vast amount has already been written on the rise of China and whether the US will be replaced as the global superpower. And where exactly does Europe fit into all this? It is easy to make a case for American weakness. The twin deficits of the balance of payments and the massive public sector gap between expenditure and income, the increasingly divided and embittered nature of policy discourse in the country, growing cultural fragmentation. The image of a divided nation appears to be supported by what has happened to the choice of

Friday

Clarissa Tan

China’s economy runs out of gas

Today’s news on the Chinese economy – that growth has slowed for the sixth quarter running – is no big surprise: the question for months now has been whether China’s landing will be hard or soft, not whether there will be a landing. Indeed, some analysts feel that the numbers suggest a recovery in the second half, and both Asian and European markets are buoyed by apparent relief the data isn’t worse.  Official Chinese statistics have to be taken with a large pinch of salt, obviously. Looking at the headline GDP numbers isn’t enough, as we pointed out recently – electricity consumption is probably a better gauge. But wait –

Monday

Clarissa Tan

Even the Chinese aren’t buying the ‘Chinese model’

It’s immensely difficult to manage such a huge and complex country as China, we are constantly told by its mandarins. Indeed it is. Tens of thousands of Hong Kongers took to the streets over the weekend to protest their new leader, the Chinese Communist Party-friendly Leung Chun-ying. There have been demonstrations annually on 1 July to mark the 1997 handover of Hong Kong from Britain, but Sunday’s was the biggest in years. The numbers of protestors range from 65,000 to 400,000 depending on whether you ask the police or the demo organisers. They’re unhappy about everything from corruption to pollution to the widening income gap to a construction scandal surrounding

Friday

David Blackburn

Cameron defies increasingly isolated Merkel

‘No’ used to be the French prerogative in matters of European integration. Charles de Gaulle made a late career out of it. But perhaps the title is passing to Britain. David Cameron indicated yesterday that he would veto any EU banking treaty that did not safeguard the City, as James said he would. Meanwhile, George Osborne joined Cameron in recognising that a European banking union, under design by ECB president Mario Draghi, is necessary if the euro is to survive. Angela Merkel agreed, saying that the answer to the present crisis was more Europe everywhere, only at a pace that suits weary German taxpayers. This sedate approach is becoming unsustainable.

Thursday

Clarissa Tan

‘Communism’ vs socialism

Two bits of interesting news yesterday: 1. France – while the eurozone is in financial meltdown – is allowing some of its workers to retire early; 2. China – while the eurozone is in financial meltdown – is on a shopping spree, buying European assets on the cheap. Perhaps there we have, in a nutshell, the pattern of what is to follow in the coming months. Francois Hollande’s lowering of the pension age by two years to 60 applies to only a small class of workers, but it appears to be just the start of a slew of changes to employment laws — today, his government announced it would make