China in Asia Regional Round Up: Dec. 23

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Dec. 23 – Here is how China has been reported across the region over the past week.

Asia’s Paradox of Thrift
Asian governments have used every trick in the book to push consumers to buy more goods, to keep the economy healthy and kicking. With the industry faltering and exports slowing to seven year lows, all Asian governments have taken some precautionary measures – reduced interest rates and pumped money into the economy. Nonetheless, many have gone a step further in promoting consumer spending. (2point6billion.com)

China to the Rescue? Not!
Thomas Friedman, the author of the world is flat, writes in his nytimes column: Dafen is just one of a million Chinese and American enterprises that constitute the most important economic engine in the world today — what historian Niall Ferguson calls “Chimerica,” the de facto partnership between Chinese savers and producers and U.S. spenders and borrowers. That 30-year-old partnership is about to undergo a radical restructuring as a result of the current economic crisis, and the global economy will be highly impacted by the outcome.(Communist Tax Lawyer)

New Vietnam Container Route to China Launched
The new international shipping container route starting from Cai Lan port in Quang Ninh province to China and Hong Kong has been officially launched. The port is the first deep-water port located in northern Vietnam with a capacity of accommodating freighters weighing up to 50,000 DWT. (Vietnam Briefing)

Asia Holiday Season Tourism Sector in for a Bumpy Ride

Come the holiday season and the Asian tourism industry is sure to be hard hit, once with reduced international travelers dampened by the financial crisis, twice by political instability in prime tourist locations such as Thailand and India and thrice by weakening local currencies. (2point6billion.com)

Ferrari to Display Tata Logo on 2009 F1 Car
For the first time in motor sport history, the scarlet Ferraris of Felippe Massa and Kimi Raikkonen fighting for world championship honors in 2009 will bear the logo of an Indian company. The Tata Group would join such big names as Shell, Alice (an Italian internet company), Acer Computers, AMD microprocessors, drinks giant Martini and Dubai-based finance and investment firm Mubadala as the main backers of the Ferrari F1 team in 2009. (India Briefing)

Hong Kong, Vietnam agree on Tax Pact
Hong Kong and Vietnam have finalized a double taxation agreement that will decrease the amount of tax being paid by each country’s investors. (Vietnam Briefing)

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