BEIJING: The Chinese Central Government has gone into overdrive to restrain the damaging impact of local government debt expenditures.
The Beijing Review reports that, "If you ask China watchers to list threats to the country's economy, you would probably get this one item on everyone's list—hefty local government debt. China released the results of a long-awaited nationwide audit on government debts in an attempt to ease mounting market concerns over the amount of debt and its possible impact."
Many large multi-national food corporations take pride in providing fresh food products to global consumers. Nevertheless, a food contamination scare in New Zealand is rising to mammoth proportions.
Acording to Channel NewsAsia, "New Zealand dairy giant Fonterra faced a new contamination scare Tuesday with the forced recall of nearly 9,000 bottles of cream which had been tainted with E.coli bacteria."
Despite President Barack Obama's claims that the US economy is rebounding, the global value of the U.S. dollar continues to sink.
Channel NewsAsia reports that, "The dollar slipped slightly against the euro Monday as traders continued to digest an unexpectedly weak US jobs report that raised speculation the Federal Reserve will slow stimulus cuts."
BEIJING: China's Central Government has handed out hundreds of millions of dollars in subsidies to State-owned English language media outlets to market a global tourism campaign for the country. However, Chinese tourism continues to drop significantly.
China Radio International reports that, "Beijing witnessed an unexpected sharp drop in inbound tourism in 2013, as tourism officials looked for ways to reverse the trend. From January to November, the city recorded 4.2 million visitors, down 10.3 percent year-on-year, the Beijing Tourism Development Commission reported."
Apparently, the National Security Agency (NSA) has a big fan, and it's the Reuters news agency. Reuters has posted an editorial on its Website on Monday touting NSA surveillance as an effective tool for 'Big Business.'
According to Reuters, "We live in a global, digitally networked world. Cloud, mobile and in-memory technologies are its engines. Our new world has no boundaries; there is a huge potential for growth, employment and new business models. But it also comes with challenges for policy and industry."
Despite Argentina losing the Falkland Wars to the United Kingdom during the reign of British Prime Minister Margaret Thatcher, Buenos Aires continues to insist it has territorial jurisdiction over the Falkland Islands. Argentina is assumming that British Prime Minister David Cameron will not call their bluff and cede the land over to Argentina to avoid another war, even if the United Kingdom would likely win again.
The Guardian reports that, " will seek legal punishment, including prison sentences, for anyone who drills for in the Falklands and the surrounding waters it claims as its territories, the country's newly created Malvinas secretary has told the Guardian."
President Barack Obama has introduced an ObamaCare Website in the Spanish language. However, the website is riddled in numerous grammar, spelling and punctuation errors, while enrollees are expected to fill out forms in the English language.
Fox News reports that, "Mirroring problems with the federal health care website, people around the nation attempting to navigate the Spanish version have discovered their own set of difficulties. The site, CuidadoDeSalud.gov, launched more than two months late. A Web page with Spanish instructions linked users to an English form."
The security personnel of French President Francois Hollande are expressing grave concerns over his nightly romps in Paris. Hollande is allegedly riding his scooter to engage in a nightly rendesvouz with a mistress, while just one bodyguard accompanies him to bring along the croissants.
Channel NewsAsia reports that, "French magazine Closer on Friday said President Francois Hollande was having an affair with actress Julie Gayet, promising to back its claim with photographs after months of swirling rumours."
What? France is trying to shed it's image as the world's number one 'cheese-eating surrender monkeys.' The French government has pledged to upgrade weapons for Japan's military.
According to Channel NewsAsia, "France and Japan vowed on Thursday to strengthen their military ties, as Tokyo seeks French support in its long-running spat with Beijing over disputed islands that has raised fresh tensions."