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Garrison Keillor: Improve Your Marriage In One Day | Reader's Digest
The benefit luncheon in Atlanta is not a happy time. It is an organization of Very Rich People Helping Wretched People Without Having to Be in the Same Room with Them, and it’s full of alpha males of the sort you see strutting around airports with cell phones clipped to their ears hollering at somebody in Cincinnati and gushy women who tell you they adore your TV show and never miss it on Sunday night, even though it’s radio and it’s on Saturday. I give my 15-minute speech, which suddenly isn’t amusing at all, and the president of Very Rich People gives me, in gratitude for my generosity, a hideous Lucite plaque, which I deposit in a trash bin at the airport, and I fly home to Minnesota, and there is my elegant wife waiting at the curb in her car.
Garrison  Keillor  Very  Rich  People  Helping  Wretched  Without  Having  to  Be  in  the  Same  Room  with  Them 
yesterday by Michael.Massing
Legal bump in the belt and road? A Mideast port giant, a Chinese rival and a Hong Kong lawsuit over a Djibouti deal | South China Morning Post
DP World, a global port operator owned by the United Arab Emirates, is suing Hong Kong-based China Merchants Port Holdings (CM Port), a unit of state-owned China Merchants Group, for allegedly infringing DP World’s exclusive port agreement with Djibouti, which sits on the Horn of Africa near some of the world’s busiest shipping lanes.
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yesterday by bbishop
China Property ‘Stealth Easing’ Spreads in Boost to Home Prices - Bloomberg
At least 11 Chinese cities have eased restrictions on residency-permits this year, potentially giving their ailing property markets a boost. The moves are seen as part of a “stealth easing” of property curbs that have helped keep a lid on housing prices. New-home prices rose at the slowest pace in eight months in December, the most recent data show.
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yesterday by bbishop
Sports Deal Gone Sour Touches a $3.3 Trillion Market in China - Bloomberg
China Merchants Bank Co. in 2016 used proceeds from a 2.8 billion yuan ($414 million) wealth-management product to invest in London-based MP & Silva, the company that was dissolved by the U.K. High Court in October, as part of a Chinese consortium...The China Merchants Bank WMP was raised in 2016 with proceeds from other WMPs for the sole purpose of funding the consortium investing in MP & Silva. It was labeled a “specialized” WMP, a designation used for instruments bought by a small number of institutions. The group, led by Everbright Securities Co., paid $1 billion in May of that year for a 65 percent in stake in the company
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yesterday by bbishop
Vice premier urges bolder, more effective measures implementing proactive fiscal policy - Xinhua
At the meeting, Han studied major issues, including the launch of another round of tax cuts and fighting the "three critical battles" against risks, poverty and pollution.

The MOF should stick to the basic tone of seeking progress while maintaining stability, promote high-quality development and take coordinated steps to ensure steady growth, advance reform, make structural adjustments, improve living standards and guard against risks, Han stressed.

He said that larger tax cuts will be helpful in improving the country's income distribution system and the tax structure and better serve China's current macro policy.

The MOF should relieve the social insurance payment burden of firms, strengthen the management of the fiscal revenue and expenditure and create a sound policy environment for fair competition, Han said.

Han underlined that measures should be in place to effectively prevent and handle financial risks, reinforce the monitoring of the local government debt risk and deploy more funds to facilitate winning the battles against poverty and pollution.
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yesterday by bbishop
Caixin View: China’s Credit Is Bottoming Out, But Surge Won’t Last
China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, grew by a net 4.64 trillion yuan ($684.93 billion) in January, the highest level according to available data going back to January 2002 and beating market expectations, according to data released last Friday by the central bank. TSF includes financing that exists outside the conventional banking system, such as initial public offerings, loans from trust companies and bond sales. The benchmark Shanghai Composite Index closed Monday up 2.68%, with the Shenzhen Component Index rising by 3.95%, likely in part due to a positive effect on sentiment, combined with a fairly positive end to recent U.S.-China trade talks. But we don’t think the new data give a strong signal that China’s credit growth is on its way up for the long term.
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yesterday by bbishop
China’s Car Sales Fall Further - Caixin
The number of vehicles manufactured and sold in China in January saw a two-digit year-on-year decline, according to an official summary Caixin acquired from industry observer the China Association of Automobile Manufacturers (CAAM)...A slowing Chinese economy was the major reason for the decline, some analysts said. Also, potential consumers could be postponing their purchase plans due to the national Chinese Lunar New Year holiday.
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yesterday by bbishop
State Firm Overseer Says Mixed-Ownership Can Help Fix the Economy - Caixin
Both China’s state-owned enterprises (SOEs) and the private sector are facing the same economic challenges and should work together to push supply-side reforms that increase consumer demand, Xiao Yaqing, director of the State-owned Asset Supervision and Administration Commission (SASAC), said in a keynote address at the private-sector dominated Yabuli China Entrepreneurs Forum on Friday
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yesterday by bbishop
Securities Regulator Defends Plan to Scrap First-Day Trading Cap
Speaking at an economics forum in Beijing, China Securities Regulatory Commission (CSRC) Vice Chairman Fang Xinghai responded to controversy over his proposal last month to remove controls on how high the price of a stock can rise on the day of its initial public offering (IPO). Fang said then that the restriction, which prevents a stock rising more than 44% on its debut, can create “illusionary and unreasonable” prices on thin trading volumes.
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yesterday by bbishop
HNA to Weigh $1 Billion Sale of Swiss Firm SR Technics, Sources Say - Caixin
HNA Group Co. Ltd., the embattled Chinese conglomerate, is exploring options for Swiss aircraft-maintenance firm SR Technics including a potential sale, people familiar with the matter said.
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yesterday by bbishop
Chinese vice premier stresses importance of taxation - Xinhua
During an inspection of the State Taxation Administration, Han called the taxation authority "an important junction of implementing macroeconomic policies and serving microeconomic operations." This year, the administration should effectively implement the government's policies to cut taxes and fees to strengthen the people's sense of fulfillment, he said...The vice premier also underlined efforts to improve law enforcement, the supervision system and tax inspection to crack down on tax evasion and fraud and to optimize the taxation and business environment. // Comment: If they really crack down then a lot of the tax cuts will be offset by forcing people and firms into compliance
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yesterday by bbishop
China's sees brisk growth in infrastructure investment in Q4 2018 - Xinhua
Such growth came after the issuance of a guideline by the State Council last October on boosting the investment in nine kinds of infrastructure facilities including railways, highways and waterways, airports, water conservancy, energy and environmental protection as well as infrastructure conducive to agriculture and rural development. Many provinces have unveiled infrastructure construction plans for this year, with Henan and Sichuan's planned investment exceeding 3 trillion yuan (443 billion U.S. dollars), according to the paper.
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yesterday by bbishop

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