In China, palaces and temples are important sites. Today our guide was talking about I.M. Pei, the famous Chinese American architect who designed the addition to the Louvre "palace" in Paris.
News from China Daily Business Section:
China's plan to combat the recession:
"Measures to encourage spending include an improved social security net, reduced precautionary savings, imposition of minimum wage requirements and increased income for rural and low-income households through fiscal transfer." "The Chinese government intends to shift to producing for the domestic market instead of export-oriented industries."
[There is much talk here about shifting to a new international "super" currency as an alternative to the current U.S. dollar dominated global monetary system.]
"China became the 'world's factory' with its export-driven development model which made China's economy vulnearable to global economic fluctuations. The asymmetry between China's status as a trade griant and its obscure currency is increasingly sweeping."
China's gold reserves:
In May China's gold reserves had risen to 1,054 tons by the end of 2008, up from 600 tons in 2003. That makes China the fifth largest holder of gold reserves in the world. Only six countries hold more than 1,000 tons.
No comments:
Post a Comment