Along China’s southern coast you can find a city with tropical beaches and a thriving tourist economy. It’s called Sanya, and it, like many other places in China, has seen rapid economic development over the last 15 years. What is different about Sanya is that local leaders decided that as the city embarks on its growth plan, it’s also critically important to keep an accounting of the amount of natural resources and associated ecosystem services being lost, or gained, along the way. This methodology is a form of “natural capital accounting,” or more specifically development of a “natural capital balance sheet,” and confronted with daunting challenges, the city of Sanya provides an example for China and the world of how to grow sustainably.
Taking Stock Over Time
Perhaps nowhere is the importance of “knowing why” more apparent than in the interplay of world energy markets and the increasing urgency of climate and environmental issues. See how through context, connection and insight, we help professionals know why changes are occurring in world energy, identify and develop alternatives, and monitor the environmental impacts of energy: (more…)
You’ve seen the headlines. China’s economy is experiencing a “new normal”. The double digit growth which has helped to lift tens of millions out of poverty is declining to mid-single digits. This same growth has left huge environmental costs. As Premier Li Keqiang said a few days ago at the opening of the country’s annual parliamentary meeting, pollution has become “a blight on people’s quality of life and a trouble that weighs on their hearts.”
So now, a pure growth solution is no longer viable as a pathway for economic development. In order to understand this “new normal” pathway which matters so much to all of us and on which China may provide global leadership, we sat down with two champions for sustainable development in China, Professor Dajian Zhu, who advises central government planners, and Mr. George Lee, Chairman of Shanghia-based De Tao Group, which is catalyzing new avenues for sustainable development with the help of a growing network of global thought-leaders.
Professor Zhu helped provide some context, explaining that “China still has a significant challenge with per-capita income and economic prosperity compared with the rest of the world. Consider how our trajectory looks from a population growth perspective:” (more…)
The big three miners (Vale, Rio Tinto & BJP Billiton), together with Australia’s Fortescue Metals Group may be entering the final round of their fight to win more market share in China at the expense of high-cost rivals. The four companies added 234 million tonnes of iron ore to global sea-borne supply in the past two years, and will add another 196 million tonnes by 2020, according to Vale. Today’s graphic charts the Big Four miners’ iron ore production and operating margins since 2010, as well as the declining price of iron ore.
Qualcomm has agreed to pay the largest fine in China’s corporate history ($975 million), ending a 14-month government investigation into anti-competitive practices Today’s graphic shows the millions of dollars in fines that have been imposed since 2010 on dozens of companies in various industries under China’s anti-monopoly law that launched in 2008.
Middle East crude exports to China increased in January, with the market share improving to 53.9%, as the Asian country took advantage of low prices to stockpile. Today’s graphic shows China’s crude imports by region since 2012.
The Chinese economy grew at its slowest pace in 24 years in 2014. Provinces have in response lowered their GDP targets for 2015, with Shanghai eliminating its target altogether. Today’s graphic tracks the growth targets across Chinese provinces.
Reuters Breakingviews released its annual predictions book this week, preparing readers for the year ahead with punchy, provocative views on what will happen in 2015 – and what won’t happen, but should. Columnists on three continents apply insight and intelligence to topics ranging from global economic growth to oil prices, the fate of banking giants like Bank of America and Deutsche Bank, activist investors’ next targets and the UK’s next government.
The collected predictions range from the controversial to the analytical, accompanied by images, interactive graphics and calculators designed to help readers make a year’s worth of smart decisions. And whether the forecasts prove spot on, half right, or misguided, each of them offers the agenda-setting financial foresight Breakingviews readers have come to expect.