The Chinese economy is slipping. Growth has slowed, and the national currency, the yuan, has reached an eight-year low. The United States, Europe, and other nations are seeking their manufactured goods elsewhere, like in Thailand, Vietnam, and Taiwan, where the labor is far cheaper than the ever-pricier Chinese. As growth slows, the Chinese government becomes anxious. This may be the… Read more »
MANILA, Oct. 3 (Xinhua) — The Philippine government is eyeing an additional 1 trillion pesos (20.7 billion U.S. dollars) for public investments annually with comprehensive tax reform measures that it has been pushing in Congress, a senior government official said Monday. Department of Finance Secretary Carlos Dominguez III said if this is achieved, some 10 million Filipinos could be freed… Read more »
BEIJING, Sept. 2 (Xinhua) — China had 31.97 million tonnes of national oil reserves at the start of 2016, said a statement by National Bureau of Statistics (NBS) Friday. The oil was at eight strategic storage bases, including those in Zhoushan, Zhenhai, Dalian, Huangdao, Dushanzi, Lanzhou, Tianjin, as well as some corporate facilities. Based on oil data released by CNPC… Read more »