Banking
Tibet’s ecology improving
Environmental protection efforts have made headway in Tibet in the past five years and the government will continue to stress the construction of an “ecological civilization,” according to a government report.Released by the people’s congress of the autonomous region in January, the government work report found that the sustained ecological improvements in the region are a result of the government’s emphasis on striking a balance between economic growth and environmental protection.In 2009, the central government gave the green light to the autonomous region to implement a long-term ecological shelter zone preservation and construction plan.
Environmental protection efforts have made headway in Tibet in the past five years and the government will continue to stress the construction of an “ecological civilization,” according to a government report.Released by the people’s congress of the autonomous region in January, the government work report found that the sustained ecological improvements in the region are a result of the government’s emphasis on striking a balance between economic growth and environmental protection.In 2009, the central government gave the green light to the autonomous region to implement a long-term ecological shelter zone preservation and construction plan.
Banking
Bow to Beijing a low move by HSBC
HSBC has put money before morality to back China’s new security law: one that’s an assault on the freedoms of Hong Kong’s people.
Luckily for HSBC, it’s headquartered in Britain: a country where you can say what you like about Boris Johnson and his shambolic handling of the pandemic.
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How China’s role in global finance has changed radically
Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.
‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.
(more…)Banking
Could China’s financial repression be good for growth?
China’s financial reform and development over the past four decades could be described as strong in establishing financial institutions and growing financial assets, but weak in liberalising financial markets and improving corporate governance.
When China began economic reform in 1978, it had only one financial institution — the People’s Bank of China. As a centrally planned economy, the state arranged the transfer of funds and there was little demand for financial intermediation.
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