It was raining in Beijing the morning of Oct. 8 as new Japanese Prime Minister Shinzo Abe flew to the city on his maiden official trip to China. As his aircraft touched down in the Chinese capital, the rain stopped and the sky began to clear, a phenomenon cited by both Abe and the Chinese media as a sign that Sino-Japanese ties were slowly but surely on the mend. An editorial in the China Daily, the country’s national English-language newspaper, said the break in the rain illustrated “optimism in the long-strained ties between China and Japan” and urged the two [...]
Last February wasn’t a good month for Terry Semel. Not only was the Yahoo! Chairman and CEO in the middle of an ambitious overseas expansion project, but his web search company had been called before Congress to testify about its involvement in a high-profile international incident. Bad news for any businessman, but for U.S. foreign policy it was a sudden and unsettling introduction to the reach of the information age. The trouble for Yahoo started with the jailing of Shi Tao, a Chinese journalist who had been convicted of “illegally providing state secrets to foreign entities” after an email he [...]
HONG KONG — The arrest of the most high-profile public figure in China in a decade may be a shocking example of endemic corruption in the world’s biggest out-of-control economy, but the question on the lips of some financial investigators in the West is: Will the trail of Chen Liangyu’s ill-gotten loot lead to the United States? The shadow economy in China, a combination of embezzlement, bribery, tax avoidance and underground banking of both legal and illegal money, is huge, and growing. Much of this money is laundered abroad, mostly via Hong Kong, say investigators, and there is growing evidence [...]
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