Posts Tagged ‘China’
Google, the world’s largest Internet search engine, said Tuesday that it may pull out of China because of a sophisticated computer network attack originating in China and targeting its e-mail service.
“We’re reviewing our operations there,” a company spokesperson said. “If it comes down to it, we may” leave.
Google said it had evidence to suggest that “a primary goal of the attackers was accessing the Gmail accounts” of Chinese human rights activists. The attack was discovered in December.
Based on its investigation to date, Google said it does not believe the attack succeeded. “Only two Gmail accounts appear to have been accessed, and that activity was limited to account information (such as the date the account was created) and subject line, rather than the content of emails themselves,” the post said.
Wow, the article reads it exactly – Gulf petro-powers to launch currency in the latest threat to dollar hegemony.
“The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait.
The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 trillion (£739bn), some 40pc of the world’s proven oil reserves, and financial clout equal to that of China.
I really thought this was an infromative interview, unlike the p.c. fluff we have here in the states’.
Wow, an actually informative interview. I guess we need to be more like China?
By Jonathan Wheatley in São Paul
Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president.
The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency.
Mr Lula da Silva, who is visiting Beijing this week, and Hu Jintao, China’s president, first discussed the idea of replacing the dollar with the renminbi and the real as trade currencies when they met at the G20 summit in London last month.
An official at Brazil’s central bank stressed that talks were at an early stage. He also said that what was under discussion was not a currency swap of the kind China recently agreed with Argentina and which the US had agreed with several countries, including Brazil.
Professor Roubini, of New York University’s Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan’s ascendancy.
Known as “Dr Doom” for his negative stance, Prof Roubini argues that China is better placed than the US to provide a reserve currency for the 21st century because it has a large current account surplus, focused government and few of the economic worries the US faces.