Roughly half of China's population is urban, but officials want another 150 million in cities by 2020. Further urbanization, it is hoped, will bring GDP growth back to double digits. Farmers stand to lose and social tensions may rise, however.
BRICS Development Bank to Go Forward; Reactions Varied.
BRICS countries convened in South Africa last week to discuss the startup of a development bank with a capital goal of $50 billion. Reactions from existing global institutions have been both hot and cold.
US Takes Stand Against Chinese Cyber Espionage; US Companies Follow Suit
New laws have banned sectors of the US government from buying information technology from Chinese government-linked companies until the end of the fiscal year. Homeland Security has indicated more measures will come, while China has blasted the laws at discriminatory, groundless and provocative.
The soccer-model superstar met hundreds of fans in China last week. Beckham will be "global ambassador" for the Youth Football Program and the Chinese Super League.
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