News & Reports 2011-01-22

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In This Edition

Chinese President Hu Jintao concludes a state visit to the United States.

Six world powers begin crucial nuclear talks with Iran in Istanbul, Turkey, just a month after similar meetings in Geneva.

A United Nations economic report suggests that China and India are to lead the rest of the world out of the worst of the economic downturn.

And heavy snowfall causes delays and cancellations of flights, trains and buses, worsening the transport peak challenge ahead of the Spring Festival

Hot Issue Reports

Call-in with Washington correspondent Wang Shanshan

1. President Hu Jintao wrapped up his state visit Friday. Today, his visit was in Chicago, the only stop outside Washington during the four-day trip.

Hu Jintao visited Walter Payton College Preparatory High School in downtown Chicago.

What's so special about the high school?

2. President Hu also visited an exhibition in suburban 2 Chicago showing achievements of Chinese companies in the midwestern United States.

Trade relations is the biggest topic of this visit, during which big trade deals have been announced.

How do the US trade and business circle think of President Hu's visit?

3.As President Hu Jinto concluded his visit Friday, how does the US media reflect on the state visit?

Wang Shanshan's cellphone number: 2024252207

US reactions to President Hu's U.S. visit

Meanwhile, China watchers in the United States are chiming in with their thoughts on President Hu Jintao's state visit.

Former Secretary of State Henry Kissinger took time to address the issue while speaking at a US-China Business Council luncheon 3 in Washington.

"We can call this summit a success, not because it has solved all the problems. But also it show how the problems can and will be solved. And the manner, in which our two presidents are work together, and the consolidated 4 arrangements they have set up, indicts 5 a direction and obligation to all associates to work creatively. This is a great achievement."

Kenneth Lieberthal is the director of John L. Thornton China Center at the Brookings Institute.

"I think, on balance he has been a cautious leader, when he stresses consensus 6, when he stresses stability, and when he is on progress on the basis of consensus and stability. So he has not only been a kind of leader who seeks major breakthroughs but also a kind of leader who likes to nurture 7 a process to produce progress."

Tamra Sami is Elsevier Business Intelligence's senior contributing editor.

"He seems to be very thoughtful. You know I mean I heard 'mutual 8 respects' and 'harmonious 9' many many times in his speech. So I think he is cautious and thoughtful. Which is what we can do right now. A few more people are cautious and thoughtful. This is not enough for those in the world. I think we are in a very reactionary 10 period. And so I think he seems to be a great leader."

Meanwhile, analysis by the Wall Street Journal suggests that President Obama is looking to assure Americans that they should not fear China's economic rise, using the Chinese President's visit to announce job-creating business deals for U.S. companies.

North Korea in a firm position to resolve all military issues with South Korea

North Korea has confirmed that it has sent a telegram to the South to propose high-level military talks.

The North's state television says the DPRK's defense 11 minister has proposed discussing "pending 12" military issues, including the sinking of one of the South's warships 13 last year as well as the deadly attack on a South Korean island.

"The letter says we are in a firm position to hold the North-South high-level military talks to solve all pending military issues. It also says we will express our opinions on Cheonan incident and shelling on Yeonpyeong Island at the talks to ease military tensions on the Korean peninsula."

The South has reportedly agreed to the high-level military talks.

If true, this would mark a major breakthrough on the Korean peninsula and heighten the prospects 14 of renewed aid-for-disarmament talks.

Meanwhile, Washington has revealed that it's sending Deputy Secretary of State James Steinberg to Seoul next week for talks.

Delegates to Iran nuclear talks begin meeting

Six world powers began crucial nuclear talks with Iran in Istanbul, Turkey, just over a month after similar meetings in Geneva.

The six powers - China, Britain, France, Russia, the United States, and Germany – hope Tehran will curb 15 its ability to turn nuclear power into atomic weapons.

Abolfazl Zohrevand, an Iranian delegate, said the current talks were more "positive" than the previous one, which ended last month with only an agreement to meet again in Turkey.

"Given what happened in the past in the Geneva talks and what I see now, I think the gap is narrowing. They agree that the policy of sanctions is ineffective."

While the six parties want the two-days of talks to focus on freezing Iran's uranium enrichment program, Tehran has repeatedly said this activity is not up for discussion.

Tehran insisted it wants only to make peaceful nuclear energy instead of nuclear weapons.

Tehran is under four sets of UN Security Council sanctions for refusing to cease enrichment and other activities that could be used to make nuclear weapons, and Iran warned it was in no mood to compromise.

Blair faces second grilling 16 on Iraq War

Former Prime Minister Tony Blair offered an apology for the deaths of soldiers and civilians 17 in Iraq, as he testified at Britain's inquiry 18 into the Iraq War.

"Of course, I regret deeply and profoundly the loss of life, whether from our own armed forces, those of other nations, the civilians who help people in Iraq, or the Iraqis themselves."

The 57-year-old Blair made a second appearance before a five-member panel scrutinizing 19 Britain's role in the U.S.-led invasion of Iraq after witnesses raised doubts about sections of his testimony 20 at an initial appearance a year ago.

Blair acknowledged that in phone calls and messages in 2002 - months before Parliament approved of Britain's role in the conflict - he reassured 21 U.S. President George W. Bush to back the United States in taking action against Saddam Hussein.

The timing 22 of the decision for military action is important to opponents of the war, as they hope the inquiry will conclude Blair had been determined 23 to back the U.S. invasion, whether or not it was supported by the public, Parliament or legal opinion.

Critics say Blair, who sent 45,000 British troops, deliberately 24 misled the public over the reason he gave for war that Saddam maintained the illegal possession of weapons of mass destruction. However, these weapons were never found.

Relatives of some of the 179 British personnel killed during the U.K.'s six-year mission in Iraq packed the small hearing room at London's Queen Elizabeth II conference center, where the former leader testified.

Members of the audience rejected Blair's apology and shouted: "Too late, too late," as the ex-leader spoke 25.

China Continues to Drive Global Economic Recovery in 2011

The United Nations has released its annual economic report, which suggests that the world's two most populous 26 countries -- China and India -- are going to lead the rest of the world out of the worst of the economic downturn. Tingting was at the release and filed this report.

The report "World Economic Situation and Prospects 2011" indicates that China and India have sustained their leading roles in driving the economic recovery in Asia and the rest of the world.

It says gross domestic product in east and south Asia expanded by 8.4 percent last year, up from 5.1 percent in 2009. A moderate slowdown is expected in the near outlook with GDP forecast to grow on average by 7.1 percent in 2011 and 7.3 percent in 2012.

UN Under-secretary-General Sha Zukang explains.

"Though the momentum 27 of the recovery of global economy will slow down, developing countries will sustain relatively 28 robust 29 growth. These countries have adopted active stimulus 31 policies and effectively encouraged consumption. They have contributed greatly to the global economic recovery."

The report suggests that China will sustain its growth dynamics 32 by its various tailored measures.

Policy reforms that aim to expand the coverage 33 of social protection systems foster a more inclusive financial system and promote real wage growth. This has provided a major boost to household consumption and domestic market expansion.

China's National Bureau of Statistics says the national economy resumed annual double-digit growth of 10.3 percent last year. Consumer prices rose 3.3 percent, higher than the expected 3 percent.

Some say China's risk of inflation will increase this year.

Zhu Baoliang(祝宝良), Vice 34 Director of the Department of Economic Forecasting at the National Information Center, says people do not need to worry about inflation given that the country's economic growth will be moderate in 2011.

"This year, the pressure on China's RMB appreciation 35 is increasing. Exports will decrease. And investment, especially in the real estate sector 36, will cool down. All these point to a moderate economic growth."

The UN report predicts China's GDP growth rate to decelerate to 8.9 percent in 2011 and 9.0 percent in 2012.

Economic experts predict the country will contain inflation within 5 percent.

For CRI, I'm Tingting.

Sleet 37 and snowfall test Spring Festival transport

The heavy snow that is blanketing the southern and eastern regions of China are now severely 38 affecting the Spring Festival transport peak, with hundreds of flights, trains and buses being delayed or canceled.

Snow and sleet have swept through Shanghai and Chongqing, as well as through the provinces of Zhejiang, Jiangsu and Yunnan, causing continuous traffic problems, shutting down airports, and canceling or delaying other transportation services.

Sections of the Nanchang-Jiujiang expressway in Jiangxi has had to be closed, causing a 20-kilometer long traffic jam.

The weather is now making a number of people re-think their travel options.

"It's snowing so I think to travel by train is safer."

"I'm worried that the road will be frozen so there might be some troubles by buses. Therefore I decided 39 to take the train. I got my ticket in only some ten minutes."

However, the bad weather is also effecting the railways.

The Wuhan-Guangzhou high-speed railway has been forced to slow down, and backup generators 40 are now being prepared in case of power outages.

The National Meteorological Center forecasts that most regions in south and east China will see more ice and snow in the coming three days.

China to promote deepwater oil exploration

Chinese energy officials are looking at going deeper into the ocean in their search for more oil and gas.

Word of this comes as the China National Offshore 41 Oil Corp, or CNOOC, has announced that its output surpassed 60 million metric tons last year.

This puts China number 4 in the world when it comes to offshore oil extraction, after Norway, the UK and the United States.

Jin Xiaojian is the head of Engineering for CNOOC.

"Deepwater oil exploration requires larger investment but delivers a higher return, as well as more risks. In the past it was certainly beyond our ability. Projects of this scale will post great challenges to our management."

It's reported that the Chinese authorities plan to invest nearly one trillion yuan, or 150 billion US dollars, in its 12th Five-Year Plan period, looking for oil resources, with most of the money being earmarked for offshore development.

Deepwater areas are said to be home to around 70-percent of the world's oil and gas supplies.

Rare stamps from Hong Kong set for auction 42

Hong Kong's most important philatelic item, a block of four stamps from the 19th century, will be auctioned 43 off in Hong Kong on Sunday.

The auctioneer, Spink, said the artifact already received a great deal of interest from around the world.

Olivier Stocker, chairman of Spink, said fierce bidding is expected for that ultimate prize.

"It's very special because it is the rarest stamp of Hong Kong - 1862, roughly 35 to 40 copies have survived, but this is the only multiple. It's a block of four, it's in pristine 44 condition, vibrant 45 colours, wonderful gum. This is absolutely the best piece of Hong Kong philately."

The stamps are estimated to fetch over one million U.S. dollars, considered to be the highest on record for a block of stamps from Asia.

The block of four, featuring the head bust 30 of Queen Victoria, has only been seen at auctions 46 twice in its lifetime.

Auction for talents

A first-of-its-kind talent auction has now taken place here in China.

Our Zhang Wan 1 explains.

When it comes to job hunting, many young people especially college graduates would say it's very hard to find well paid job.

"What's import for us now is to be realistic. How much you earn at the beginning of a job is not that important."

They are often persuaded to stop having high expectations when job hunting and face reality, as there are many people competing for the same position.

However, if your talents are in demand things will probably be different, you will be the one courted by several employers. In a special talent auction organized by an auction company in Beijing, many potential employers are bidding for their expected talent.

Zhao Xiaokai, general manager of the auction company explains:

"Usually employers try to pay less to potential employees, but through auction, they must pay higher for an employee."

The event, which is called special talent auction, is the first of its kind in China, several potential employers are bidding for a one-year working contract with a female bodyguard 47 Xiao Mei.

Xiao Mei won a national wrestling competition, she is not only proficient 48 in Chinese and English, but also good at driving and the law, and she knows how to be a good secretary.

Finally, the deal is made at the price of 180,000 yuan. Xiao Mei says this number is similar to her annual salary last year.

He Yang, another talent, offers one year of his working as a counselor 49 up for bid.

"I think working as a counselor; it's enough to get 30,000 to 50,000 yuan a year."

However, he is proved to be wrong at this point. His offer brings fierce competition in the bidding. With the starting price of 10,000 yuan, the deal goes to the highest bidder 50 at one million in the end.

When the highest bidder Lu Jianhua from a job agency for retired 51 people is asked if he feels it worth the price, he firmly says yes.

"We hope he will not only give us his creative ideas, but also help our partner companies in our website."

After the success of the event, the auction company is calling for more talented people who can serve as butler and family financial advisor 52.

For CRI, I am Zhang Wan.

Newspaper Picks

From the Shanghai Daily: Well-wishers and officials have now been bringing gifts to an elderly cobbler who became an overnight internet sensation after a photograph of him working on Shanghai's snow-coverd, freezing streets was posted online.

80-year old Zhang Tianyuan says the parade of gifts and well-wishes he has received has made him the happiest he's been in recent years.

The devout 53 Buddhist 54 also says he's going to remember the names of everyone who has come to see him, and bless them before he goes to sleep every night.

After receiving 500 yuan from local officials, Zhang is also asking people not to bring him anything else, saying that while he welcomes the visitors, he has enough already.

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From the AFP: A German pensioner 55 down on his luck has been given a six-month suspended jail sentence for attempting to cash a million-dollar bill at his local bank.

The 65-year old, whose business reportedly ran into difficulties after he became ill, brought the fake note to the bank in western Germany, saying he had received it in return for the sale of a property in Sri Lanka.

In court he claimed that he just wanted the bank to check whether the bill was real, but bank employees testified that he wanted to have the money credited to his account.

The US Treasury 56 Department does not print a million-dollar bill.

Market update

US stocks were slightly higher Friday after General Electric and other companies reported strong profits.

The Dow rose 0.4 percent, to 11,872. S & P 500 rose 0.2 percent to 1283, and the Nasdaq composite index slid 0.6 percent to 2,690.

In Europe, Britain's FTSE 100 gained 0.5 percent to 5896, Germany's DAX went up 0.5 percent to 7062, and France's CAC 40 rose 1.3 percent to 4017.