February 11, 2008 24/7 News Coverage the second hyperpower
US Treasury cautions China over sovereign wealth fund
Washington (AFP) Feb 7, 2008
The US Treasury cautioned China Thursday against using profits derived from its cash-flush sovereign investment fund to delay currency reform, as the fund's maneuvers came under Congressional scrutiny. The China Investment Corporation Ltd., launched in September with 200 billion dollars capital, wants to boost investment returns on China's massive foreign reserves and manage reform of ... read more
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    Geotimes Explores For Oil Around The World
    Washington DC (SPX) Feb 06, 2008
    With oil hovering around $90 a barrel, Geotimes magazine examines emerging trends and issues in several obvious, and some not-so-obvious locations, in this month's cover story "Oil Around the World." Land disputes, foreign sanctions, terrorism, war and economics play into the exploration and recovery of the world's oil and natural gas reserves. Be it Libya, Iraq or Norway, the South China ... more

    World Bank slashes 2008 China growth forecast
    Beijing (AFP) Feb 4, 2008
    The World Bank said Monday it had slashed its growth forecast for the Chinese economy in 2008 by 1.2 percentage points to 9.6 percent due to a weaker global outlook. The World Bank made the adjustment in its quarterly update on the Chinese economy, while also warning about growing signs of inflation. "The slowdown in the global economy should affect China's exports and investment in the ... more

    International Team Establishes Unique Observatory In Antarctica
    Dome Argus, Antarctica (SPX) Feb 04, 2008
    A team of scientists representing six international institutions, including Texas A and M University, has succeeded in reaching the summit of Antarctica - also a monumental achievement for ground-based astronomy - to establish a new astronomical observatory at Dome Argus on the highest point of the Antarctic Plateau. Two weeks after arriving Jan. 11 at "Dome A" for only the second time in ... more

    Mars In Their Sights
    Phoenix AZ (SPX) Feb 04, 2008
    U.S. and Chinese students are taking aim at the Red Planet using an ASU-designed camera on a Mars-orbiting spacecraft. The target lies millions of miles away, but for the 22 high school students in the first-ever China Youth Space Academy, Mars is square in their sights. Fifteen high school students from China are at ASU's Mars Space Flight Facility, collaborating with seven students from ... more

    China, US aluminum giants buy into Rio Tinto
    London (AFP) Feb 1, 2008
    Chinese aluminium giant Chinalco said Friday it and US peer Alcoa have bought a 12-percent stake in Anglo-Australian miner Rio Tinto, setting up a possible takeover tussle with rival BHP Billiton. Analysts said the acquisition was a possible defensive move to prevent, or at the least complicate, any tie-up between Rio Tinto and BHP Billiton, two of the biggest miners and suppliers of raw mat ... more

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    Gushan Environmental Energy Limited Opens Beijing Biodiesel Plant
    New York NY (SPX) Jan 29, 2008
    Gushan Environmental Energy Limited, China's largest producer of biodiesel as measured by annual production capacity, announced that its Beijing plant has commenced production, adding 50,000 tons to the company's annual biodiesel production capacity. Annual capacity of the Beijing plant is expected to increase to 100,000 tons in the fourth quarter of 2008 when additional expansion is completed. ... more

    Chinese Taikonaut Dismisses Environment Worries About New Space Launch Center
    Haikou, China (XNA) Jan 28, 2008
    Yang Liwei, China's first taikonaut, the Chinese term for astronaut, on Saturday dismissed worries about the environmental effects of a new space launch center to be built in the island province of Hainan, saying the launches will be non-toxic and do no harm to the local ecology. Yang, who is visiting the tropical island, said space and environment authorities had researched the impact of ... more

    China May Broadcast First Taikonaut Spacewalk Live
    Shanghai (AFP) Jan 26, 2008
    China may broadcast its first ever spacewalk live when it launches its third manned space mission later this year, state media reported Friday. The spacewalk is expected to be carried out by the crew of the Shenzhou VII spacecraft, rocketing into orbit some time late this year, Xinhua news agency said. "The Shenzhou VII spacecraft is capable of live-broadcasting the walk," Yuan Jie, presid ... more

    Move Over US - China To Be New Driver Of World's Economy And Innovation
    Athens GA (SPX) Jan 25, 2008
    A new study of worldwide technological competitiveness suggests China may soon rival the United States as the principal driver of the world's economy - a position the U.S. has held since the end of World War II. If that happens, it will mark the first time in nearly a century that two nations have competed for leadership as equals. The study's indicators predict that China will soon pass t ... more

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  • US subprime crisis could worsen China's bad loan problem: report

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    Foreign companies pour money into China: govt
    Beijing (AFP) Jan 21, 2008
    Foreign firms invested a record 82.7 billion dollars in booming China last year, the government said Monday, with analysts adding the tide of money had undermined efforts to slow economic growth. The 2007 figure for foreign direct investment, or FDI, was up 13.8 percent from a year earlier, the commerce ministry said in a statement. China has been striving to cool its economy over concer ... more

    China To Boost Civil Industrialization With Xian Base
    Xi'an, China (XNA) Jan 21, 2008
    China is constructing a civil aerospace center in the Shaanxi Province capital, a further move to step up its industrialization of the sector following the launch of the initial Shanghai base last year. The National Civil Aerospace Industrial Base of Xi'an, set to cover 23 square km, will focus on developing satellites, new materials, energies, IT and other technologies for the benefit of ... more

    China-Made Satellite Navigation System Monitors Dangerous Chemical Transport
    Beijing (XNA) Jan 21, 2008
    China has begun use of a domestically-developed monitoring system to oversee dangerous chemical transport based on the country's Beidou satellite, its management center announced on Thursday. The system provides all-day data on dangerous chemical transport to the Beidou navigation satellite, which in turn gives corresponding operational order, according to experts who researched and develo ... more

    US Has An Ally In Azerbaijan For Energy Supply
    Washington (UPI) Jan 18, 2008
    In retrospect, 2007 will be remembered as the high-water mark of Washington's attempts to develop the Caspian's post-Soviet hydrocarbon riches. If early 2008 is any indication, then the one remaining friend that America has in the Caspian basin is Azerbaijan. Neither Iran, subject to ongoing U.S. sanctions, nor the Russian Federation have evinced the slightest interest in sharing their oil ... more

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  • Multi-nationals in China face sharp rise in salary demands: survey
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