To a Chinese Scrap-Metal Hunter, America's Trash Is Treasure: Johnson Zeng is a Chinese trader who travels across the U.S. in search of scrap metal. By his estimate, there are at least 100 others like him driving from scrap yard to scrap yard, right now, in search of what Americans won’t or can’t be bothered to recycle. His favorite product: wires, cables, and other kinds of copper. His purchases, millions of pounds of metal worth millions of dollars, will eventually be shipped to China. [more inside]
"Honey laundering is a complex exercise that involves several players in the honey chain from apiary to wholesaler to retailer. In the case against ALW, evidence was presented to show the use of fake country-of-origin documents for shipments, replacement of labels on Chinese containers with fraudulent ones, switching of honey containers in a third country, and even the blending of Chinese honey with glucose syrup or honey from another country."
We're All State Capitalists Now 'No, according to some commentators, the contest between the two Asian superpowers is also fundamentally a contest between economic models: market capitalism vs. state capitalism.' [more inside]
""You can't forget there are people listening when you say you are going to do things, and I try not to overpromise."
This past March, former US President Bill Clinton acknowledged to the Senate Foreign Relations Committee that tariff policies his administration championed in the mid-1990's helped destroy Haiti's rice production and contributed to the impoverished nation's inability to feed itself. But while most of the world has stopped paying attention to Haiti's woes, Mr. Clinton has become the de facto leader of the effort to rebuild it after the catastrophic earthquake this past January. Will his influence be enough? Reports from the UN Office of the Special Envoy to Haiti indicate that the reconstruction progress has been slow. [more inside]
It's the ten-year anniversary of NAFTA this week. Has it been a success? [more inside].
Last week, the WTO ruled against a corporate welfare program for US exporters (again). This week, a Canadian hemp company claims the US owes them US$20m under NAFTA for harrassment and impinging on future returns.
Is everyone asleep at the wheel? "The Senate on Tuesday approved a bill to normalize trade with China, marking a turning point in a half-century of stormy relations between the world’s strongest power and its most populous nation. In return, trade relations will no longer hinge on China’s human rights record, a link that has long irritated Beijing." It is a sad day for human rights in China.