China Looks Down Under

With China’s appetite for natural resources and foodstuffs ever growing, regional trading partners Australia and New Zealand are attracting fresh attention. New Zealand made news April 7 by becoming the first developed country to sign a free trade agreement with China (NZ Herald). The same week, Australia’s Prime Minister Kevin Rudd departed for his first tour of China, with rapidly expanding bilateral economic relations high on the agenda. Experts say burgeoning relations between China and its neighbors down under promise economic dividends, particularly for Australia’s mining industry and New Zealand’s farmers. They also raise political concerns, however, and threaten to bring a rise in protectionist sentiment that could undermine regional trade liberalization.

China’s new interest in Australia and New Zealand stems primarily from its need for commodities, a trend that has already brought gains to Latin America and Africa, as noted in a 2006 report from Deutsche Bank (PDF). The Economist writes that China’s hunger has been “manna from heaven” for Australia, the leading global exporter of iron ore, which is running mines at full tilt and still can’t meet heady Chinese demand. Not only has China been willing to buy up all the ore the Aussies can produce, its huge demand has spiked the price of the commodity—sending the price of fines, the most heavily traded form of iron ore, from $31.40 in 2003 to $132.20 in 2008. The prices of lump ore and iron pellets, two other commonly traded forms, have also jumped. Australian miners have reaped the benefits as the world’s leading steel manufacturers have rushed to gain access to Australia’s iron.

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On April 7, New Zealand became the first developed country to sign a trade agreement with China. China also needs to make trade agreements with Australia because of its need for iron ore from Australia. These trade agreements can help Australia's miners and New Zealand's farmers, but they do raise political concerns.

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Olympics to 'rebound from crisis'

Jacques Rogge told a meeting of national Olympic committees in Beijing that the Games would succeed.
But Mr Rogge urged China to respect its "moral engagement" to improve human rights ahead of the Games.
China said it hoped the IOC would steer clear of what it called "irrelevant political factors".
"I hope IOC officials can eliminate all kinds of disturbance and continue to adhere to principles of the Olympic charter," foreign ministry spokeswoman Jiang Yu said.

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There have been many protests going on in China and the government is classifying these anti-China protests as a 'crisis'. They are hoping that the games in Bejing will rebound.

China Upholds Use of Death Penalty

China says it has no plans to stop putting criminals to death. The Chinese position came in response to an Amnesty International report that places China at the top of a list of countries with the most executions. VOA's Stephanie Ho reports from Beijing.

The Amnesty International report on worldwide executions says China put to death more people than any other country in 2007, with at least 470 executions.

Last year, China reformed the way capital cases are handled, which has led to a substantial reduction in executions. Amnesty says the number of executions it could confirm fell by more than half, from more than 1,000 in 2006 to about 477 last year.

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China plans to continue using the death penalty to punish criminals. The Amnesty International report says that in 2007, China executed at least 470 people, which was more than any other country that year. The number might be higher than this however; the death penalty figures are treated as a state secret in China.

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China 'now top carbon polluter'

China has already overtaken the US as the world's "biggest polluter", a report to be published next month says.
The research suggests the country's greenhouse gas emissions have been underestimated, and probably passed those of the US in 2006-2007.
The University of California team will report their work in the Journal of Environment Economics and Management.
They warn that unchecked future growth will dwarf any emissions cuts made by rich nations under the Kyoto Protocol.
The team admit there is some uncertainty over the date when China may have become the biggest emitter of CO2, as their analysis is based on 2004 data.

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China has become the counrty that produces the most polution. Their industy is grwoing and they need to change their energy policies. The carbon emmision could cause many other problems in China other that pollution.

China takes stake in BP

China has accumulated a stake of just less than 1 percent in BP, the British oil company, the company confirmed Tuesday, a move that raises fresh questions about Beijing's strategy for investing its huge foreign currency reserves.

BP said it was aware of the Chinese stake, which is worth about $2 billion, and that it welcomed all shareholders.

The British company declined to identity of the specific investor, but China operates the State Administration of Foreign Exchange, an arm of the central bank that manages the country's $1.68 trillion in currency reserves, which is known as SAFE. China also controls the China Investment Corp., a $200 billion sovereign wealth fund that Beijing set up last September to increase the returns on its reserves by taking greater risks.

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China now owns about one percent of the British oil company BP, which is worth about $2 billion. This ownership raises questions about Beijing's foreign currency reserve investments.

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China 'gold medal' for executions

Amnesty said the hidden extent of executions in China, where figures are secret, might mean the Olympic host was behind the bulk of them worldwide.
But China's foreign ministry defended the death penalty, saying China limited it to a small number of criminals.
At least 1,252 people are known to have been executed in 24 countries in 2007.

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Last year Chinese authorities put to death 470 people. It is believed that many more have been killed by Chinese authorities but that the government is trying to hide it. Last year China killed more people than any other counrty and there are 60 crimes that result in the death penalty.

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