Can you believe all of the shopping that is going on in NYC. One Chinese shopper refers to it as “ Buy In America”. Just a few years ago, China was an economically depressed country. They had been left out of the market. It appears that they are now driving the market. This article indicates that NYC is expecting 159,000 Chinese tourists in NYC by the end of 2008. There must have been an economic boom. The peasant farmers may have been left out of the boom but not everyone. These shoppers are taking advantage of the drop in the U.S. dollar. The article also states that many Chinese are buying real estate in New York, and spending an average of $340,000.00 U.S. dollars. Clearly, the Chinese are shopping globally and making decisions on a how and where to spend their money in the global market.
- Here is the article,
Chinese purchase "cheap" goods with dollars
13:01, February 20, 2008
On February 14, after China Eastern Airlines' flight from New York landed at the Shanghai Pudong International Airport, people swarmed off the plane, all carrying shopping bags. Miss Yang, who took advantage of Spring Festival to travel to the United States, said, "I bought a digital camera, an iPod, designer bags, clothes and shoes. The dollar fell and buying things has become so cost-effective."Miss Yang is only one of the many infected by the "Buy-in-America" craze now on the rise. With the weak dollar and the rise of the RMB, prices in the United States are much lower than in China. Not only are tourists physically shopping, but they are also shopping online with US dollars.During Spring Festival, on Madison Avenue in New York, the crowd was surging, and there was no room for your feet. Traffic police were dispatched to force the crowd, at a standstill and constantly screaming, to move. These shoppers mainly come from Europe; however, many also come from China.Michael Elvidge, from a tour bus company that has been operating for over 80 years, said, "This is the first time in my life to see so many Chinese people in Manhattan."Kimberly Spell, a spokesperson for the New York City Tourism Bureau said that in the last two years, the number of Chinese tourists has risen. New York City received 145,000 Chinese tourists last year; and by the end of this year, the number of Chinese tourists will reach 159,000 – a record high. The New York City Tourism Bureau estimated that once China's tourist visa to the United States opens up, this figure will see a new high.Spell said that foreign tourists contribute significantly to New York City's economy. Last year, New York City's total income from tourism reached 24.7 billion – half of which came from foreign tourists.
Chinese tourists' contribution to the city's tourism industry has become increasingly apparent.Ms. Wu, a white-collar worker in Shanghai, likes to buy cosmetics on the Hong Kong Salsa website. She likes a 30-ml bottle of Anna Sui, now selling at 22.80 US dollars. At the beginning of last year, it was 182 yuan. Now it costs only 164 yuan: a 10 percent decline in price.The biggest reason for the price gap is the weak US dollar. With the strength of the yuan increasing; the gap between in value between the US dollar and the RMB is narrowing. Early last year, the yuan exchange rate against the dollar was 7.80, but today it stands at 7.15.The value of items that are 100 USD, were once 780 yuan, a year ago. But now they cost nearly 10% cheaper.Moreover, in fear of economic stagnation, American chain enterprises launched large scale "discount sales" and promotional activities during the "end of the year" of shopping season.
As a result, the entire United States is "on sale" in the eyes of the Chinese people.According to a survey by the New York Tourism Bureau, Chinese tourists stayed in New York an average of 5.9 nights, with 79% of people living in hotels; 86 percent going out to eat; 84 percent going shopping; and 58 percent visiting tourist spots. In terms of shopping, Chinese tourists mainly buy European-brand cosmetics and clothes. And, it is worth mentioning that among the current Chinese tourists in New York; more than 80 percent are business travelers. Many of them purchase homes in New York. According to statistics, Chinese people spend an average of 340,000 US dollars on real estate in New York: 5,000 US dollars more than the British.
By
People's Daily Online
Saturday, February 23, 2008
Lesson 6 - Blog Post
Here is an article that I read on February 12, 2008. In this article, it indicated that China is using “nationalism” to obtain military secrets from Mr. Chung. Chung commented that he wanted to help the “motherland”. This spying incident shows that China is interested in more than just being economic partner or competitor with the U.S. China’s spying shows that China considers the U.S. as a potential threat. Since 1999, there have been six (6) other news reports regarding China’s spying to obtain U.S. secrets is a major player in the world. It is not hard to see why China spies on the U.S. China was left out of the world market due to the wars it lost and the territory it relinquished due to those losses. In 1842, China lost the First Opium War and gave up Hong Kong in perpetuity to Britain for 99 years. IN 1958, China lost the Second Opium War and had to open up additional ports and grant unrestricted trade to foreigners. In 1895, China lost the Sino-Japanese War and gave up Taiwan to the Japanese. In 1945, the Japanese turned over Taiwan to China but the U.S. intervened and reunification has not occurred. This article mentions that a majority of the information involved was regarding the sale of military equipment to Taiwan. One has to wonder if China is planning for forced reunification.
China has a history of loss and since becoming a global player, it plays the global of rules of the spy game. Although this spy plot was discovered, China is also signaling its military capability to obtain information about the U.S. China is also showing weaknesses in our system of securing our secrets. These actions make China a global player and most assuredly a topic for discussion in every U. S. and allied forces military think tank.
Ex-Boeing engineer charged in China spying case
Page 1 of 2 View as a single page 5:00AM Tuesday February 12, 2008By James Vicini
WASHINGTON - A former Boeing engineer was arrested on Monday on charges of stealing trade secrets for China about several aerospace programs, including the Space Shuttle, the US Justice Department said.
It also announced a separate case in which a US Defence Department official and two others from New Orleans were arrested on Monday on espionage charges involving the passing of classified US government documents to China.
"We take every one of these cases very seriously," Assistant Attorney General Kenneth Wainstein told a news conference.
"The threat is very simple. It's a threat to our national security and to our economic position in the world, a threat that is posed by the relentless efforts of foreign intelligence services to penetrate our security systems and steal our most sensitive military technology and information," he said.
Department officials said Dongfan "Greg" Chung, 72, of Orange, California, who was employed by Rockwell International from 1973 until its defence and space unit was acquired by Boeing Co in 1996, was arrested without incident at his residence.
He was accused in federal court in California of espionage involving economic secrets, conspiracy and other charges. If convicted, he faces a potential sentence of more than 100 years in prison, the officials said.
Chung, a China native who is a naturalized US citizen, held a secret security clearance when he worked at Rockwell and Boeing on the Space Shuttle program, the officials said.
He retired from the company in 2002, but the next year he returned to Boeing as a contractor, a position he held until September 2006.
According to the charges against him, Chung took and concealed Boeing trade secrets relating to the Space Shuttle, the C-17 military transport aircraft and the Delta IV rocket.
DESIRE TO HELP 'MOTHERLAND'
Individuals in the Chinese aviation industry began sending Chung letters asking for specific information as early as 1979, the officials said. Chung responded in a letter with a desire to help the "motherland."
Between 1985 and 2003, Chung made multiple trips to China to give lectures on technology involving the Space Shuttle and other programs, and met with Chinese officials during those trips, the officials said. He also sent to China 24 manuals about the B-1 Bomber.
A Boeing spokesman, Dan Beck, said his company has been working with investigators.
"We do not comment on ongoing government criminal investigations and will not comment on the subject matter of the case," Beck said. "Boeing is not a target of the investigation and has been cooperating with the government."
The other case involved Gregg William Bergersen, a Defence Department official who had a top-secret security clearance, and Tai Shen Kuo and Yu Xin Kang, both of New Orleans.
Working under the direction of an individual identified in court documents only as "PRC Official A," Kuo cultivated friendships with Bergersen and others in the US government and obtained from them sensitive classified information for China.
The officials said much of the information involved the US sale of military equipment to Taiwan.
The criminal conduct spanned a two-year period from January 2006 to February 2008, said the documents filed in federal court in Virginia.
Kuo, a naturalized US citizen who had a furniture business in New Orleans, gathered the secret information, the officials said. Kang, a Chinese citizen and a legal permanent US resident, took the secrets from Kuo and gave them to the unidentified Chinese official.
Bergersen is a weapons systems policy analyst at the Arlington, Virginia-based Defence Security Cooperation Agency, which is part of the Defence Department. He received an undetermined amount of cash from Kuo for the secrets, the officials said.
China has a history of loss and since becoming a global player, it plays the global of rules of the spy game. Although this spy plot was discovered, China is also signaling its military capability to obtain information about the U.S. China is also showing weaknesses in our system of securing our secrets. These actions make China a global player and most assuredly a topic for discussion in every U. S. and allied forces military think tank.
Ex-Boeing engineer charged in China spying case
Page 1 of 2 View as a single page 5:00AM Tuesday February 12, 2008By James Vicini
WASHINGTON - A former Boeing engineer was arrested on Monday on charges of stealing trade secrets for China about several aerospace programs, including the Space Shuttle, the US Justice Department said.
It also announced a separate case in which a US Defence Department official and two others from New Orleans were arrested on Monday on espionage charges involving the passing of classified US government documents to China.
"We take every one of these cases very seriously," Assistant Attorney General Kenneth Wainstein told a news conference.
"The threat is very simple. It's a threat to our national security and to our economic position in the world, a threat that is posed by the relentless efforts of foreign intelligence services to penetrate our security systems and steal our most sensitive military technology and information," he said.
Department officials said Dongfan "Greg" Chung, 72, of Orange, California, who was employed by Rockwell International from 1973 until its defence and space unit was acquired by Boeing Co in 1996, was arrested without incident at his residence.
He was accused in federal court in California of espionage involving economic secrets, conspiracy and other charges. If convicted, he faces a potential sentence of more than 100 years in prison, the officials said.
Chung, a China native who is a naturalized US citizen, held a secret security clearance when he worked at Rockwell and Boeing on the Space Shuttle program, the officials said.
He retired from the company in 2002, but the next year he returned to Boeing as a contractor, a position he held until September 2006.
According to the charges against him, Chung took and concealed Boeing trade secrets relating to the Space Shuttle, the C-17 military transport aircraft and the Delta IV rocket.
DESIRE TO HELP 'MOTHERLAND'
Individuals in the Chinese aviation industry began sending Chung letters asking for specific information as early as 1979, the officials said. Chung responded in a letter with a desire to help the "motherland."
Between 1985 and 2003, Chung made multiple trips to China to give lectures on technology involving the Space Shuttle and other programs, and met with Chinese officials during those trips, the officials said. He also sent to China 24 manuals about the B-1 Bomber.
A Boeing spokesman, Dan Beck, said his company has been working with investigators.
"We do not comment on ongoing government criminal investigations and will not comment on the subject matter of the case," Beck said. "Boeing is not a target of the investigation and has been cooperating with the government."
The other case involved Gregg William Bergersen, a Defence Department official who had a top-secret security clearance, and Tai Shen Kuo and Yu Xin Kang, both of New Orleans.
Working under the direction of an individual identified in court documents only as "PRC Official A," Kuo cultivated friendships with Bergersen and others in the US government and obtained from them sensitive classified information for China.
The officials said much of the information involved the US sale of military equipment to Taiwan.
The criminal conduct spanned a two-year period from January 2006 to February 2008, said the documents filed in federal court in Virginia.
Kuo, a naturalized US citizen who had a furniture business in New Orleans, gathered the secret information, the officials said. Kang, a Chinese citizen and a legal permanent US resident, took the secrets from Kuo and gave them to the unidentified Chinese official.
Bergersen is a weapons systems policy analyst at the Arlington, Virginia-based Defence Security Cooperation Agency, which is part of the Defence Department. He received an undetermined amount of cash from Kuo for the secrets, the officials said.
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