After China’s decision over the weekend to allow greater flexibility in the Yuan’s exchange rate and with construction equipment makers outperforming in Japan, Asian stock markets powered higher Monday. In anticipation of Yuan gains and improved risk appetite, regional currencies rose sharply. Macquarie Private Wealth Division Director Martin Lakos said, “It looks like China is […]
While North and South Korea are in dispute, the Obama administration turns to China for help in diplomatic talks to prevent a military skirmish. This move underlines the United State’s increasing dependence on one of the world’s communist country. The Obama has been pressing for a UN sanctions resolution with the help of China against […]
North Korean leader Kim Jong Il is expected to arrive in Beijing after spending two days touring the northeast Chinese port city of Dalian. On his rare trip outside North Korea, Kim surprised the international media, normally accustomed to state secrecy, by making his visit very public. For two days, his entourage of up to […]
Out of necessity, local Tibetan monks were forced to break away from the tradition of leaving their dead out for vultures. They instead set fire to the mountains of blanket-wrapped bodies of the victims of China’s earthquake. Villagers looked on by the hillside, as the monks chanted and recited prayers for the dead. The mass […]
Local Chinese media reported that the death toll from a powerful earthquake that struck China’s northwest Qinghai province on April 14 has risen to 1,144 people. On the morning of April 14, a 7.1 magnitude earthquake, the strongest to strike the country in two years, hit an area in Qinghai, near Tibet. The epicenter of […]
The earthquake that struck Yushu Tibetan Autonomous Prefecture in the early morning of April 14 is now said to have been much more devastating than initial reports indicated. A total of 589 were confirmed dead as of Wednesday night and local Chinese media reported that the injured has reached tens of thousands. An estimated 90 […]
The China Earthquake Administration said that at least 67 people died and many others were buried under the debris after a 7.1-magnitude earthquake hit northwest China’s Qinghai Province early on Wednesday. Zhuohuaxia, a publicity official with the Tibetan Autonomous Prefecture of Yushu, said that more than 85 percent of the houses near the epicenter, the […]
After more than seven days of being trapped in the pitch dark conditions, at least 114 Chinese miners have been pulled alive from a flooded coal mine, prompting cheers from officials who hailed the rescue a miracle. A total of 153 miners had been trapped in the unfinished Wangjialing mine in Xiangning, Shanxi province after […]
