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So, about those Republican debates

Photo: Anthony Moretti 10Jan2015

Photo: Anthony Moretti 10Jan2015

Just how do they look to the Chinese? The Atlantic has the answer.

But outside of the U.S., and particularly in China, the Republican party’s tangle of candidates can loosely be classified in three groups: Donald Trump, Jeb Bush, and everyone else. The last Republican debates were translated and broadcast in China, and Chinese netizens mostly found the candidates wanting. (They also overwhelmingly don’t like Hillary Clinton.)

“Just looking at these faces, I feel Hillary being the next president is already certain. These old men look so terrible. Why can’t the Republicans find someone young and handsome?” one Chinese blogger wrote below a photoof the last debate, which featured Donald Trump, Jeb Bush, Scott Walker, Mike Huckabee, Ben Carson, Ted Cruz, Marco Rubio, Rand Paul, Chris Christie, and John Kasich. (Former HP CEO Carly Fiorina was added this time around.)

China’s economic woes have U.S. college leaders worried

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The Boston Globe explains why.

Many universities in Greater Boston, and across the country, in the past five years have come to depend heavily on tuition revenue from international students — primarily from China.
As a result, education specialists say, continued economic troubles in that country could have wide-ranging influence on local colleges’ bottom lines if fewer Chinese students can afford to attend.

“Everybody in the higher education world that has a China program and that has counted on Chinese students to fill the coffers and make the bottom line look good is thinking of this,” said Marguerite Dennis, an international student recruitment consultant and former director of international programs at Suffolk University.

Continued fluctuations in the Chinese stock market, which suffered a rout this summer, could disproportionately affect Greater Boston because there are so many colleges here. The region ranks third among US cities in the number of foreign students, according to a 2014 report by the Institute of International Education.

 

The latest Chinese status symbol — act like a Westerner

The Echo Wheel of Liverpool, as seen from the Radio City 96.7 tower, 9March2015, Anthony Moretti

The Echo Wheel of Liverpool, as seen from the Radio City 96.7 tower, 9March2015, Anthony Moretti

The BBC explains.

With 190 billionaires and more than two million millionaires, China tags just behind the US in number of high-net-worth individuals, according to research from Forbes magazine and Boston Consulting Group.

Many of these fortunes have grown rapidly, in lock-step with China’s newly expanding economy and multiplying business opportunities. Some who find themselves newly wealthy have little knowledge or training in how to behave in international business or social events.

“The country was so isolated 30 years ago,” said Ho. “The spike in wealth has happened in a compressed time. This transformation has created a lot of pressure on individuals.”

As a result, some businesspeople may appear uncouth and blunt to their western or Asian counterparts. Finesse, on the other hand, can smooth many business transactions. “Simply knowing how to be comfortable with a knife and fork can be a deal clincher,” said James Hebbert, who represents Seatton, a British etiquette school in China.

China’s propaganda about its economy doesn’t match reality

Photo: Anthony Moretti 10Jan2015

Photo: Anthony Moretti 10Jan2015

The Irish Times takes a look at what China’s national leaders are trying to do to convince the citizenry that the Chinese economy is sound.

Despite record recent declines in the Shanghai and Shenzhen bourses, it is these events that are the actual talk of the Village mall. It seems that stock-market news has to be far more catastrophic before it can compete with a sword attack for public attention.

In the past week the Chinese stock market lost 23 per cent of its value in five days, sparking volatility on exchanges all over the world.

Although it recovered later in the week, it is far from settled, largely because economic growth in China seems to be slowing. The Chinese government says it is decelerating to a “new normal” rate of about 7 per cent a year, an enviable slowdown to most European countries.

BREAKING: Stocks go splat; China to blame?

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The New York Times has the story.

A searing six-year rally in United States stocks had advanced into the summer months, shrugging off challenges like the dispute over Greece’s debt. But in the last two weeks, world markets tumbled as investors grew increasingly concerned about developments in China, which unexpectedly devalued its currency last week, and the outlook for the economies of other large developing countries.

As the selling gathered steam Friday afternoon, some benchmark indexes were at or near 10 percent below their recent peaks — a “correction” in Wall Street parlance. “This is likely going to go down as the first meaningful correction in four years,” said David Rosenberg, an economist and strategist at Gluskin Sheff.