Archive for March, 2019

China Experiences a Fracking Boom- and All the Problems That Go With It – The New York Times

“GAOSHAN, China — The first earthquake struck this small farming village in Sichuan Province before dawn on Feb. 24. There were two more the next day.

Sichuan is naturally prone to earthquakes, including a major one in 2008 that killed nearly 70,000 people, but to the rattled villagers of Gaoshan, the cause of these tremors was human-made.

“The drilling,” Yu Zhenghua said as she tearfully surveyed her damaged home, still officially uninhabitable five days later.

The drilling Ms. Yu referred to was hydraulic fracturing, or fracking. The technology, which has revolutionized the production of natural gas and oil in the United States, has created a boom in China, too, and with it many of the controversies that have dogged the practice elsewhere.

In the hours after the quakes, thousands of residents converged outside the main government building in Rong County to protest widespread fracking in the rolling hills and valleys here now yellowing with the flowering of rapeseed.

A shale gas drilling station in Rong County. In the last decade, the China National Petroleum Corporation alone has invested $4 billion in fracking shale gas in the Sichuan Basin.CreditGilles Sabrie for The New York Times
 Image
A shale gas drilling station in Rong County. In the last decade, the China National Petroleum Corporation alone has invested $4 billion in fracking shale gas in the Sichuan Basin.CreditGilles Sabrie for The New York Times

The protesters jostled with security guards along a sliding metal gate and dispersed only after officials announced they had suspended fracking operations of a regional subsidiary of China National Petroleum Corporation, the country’s largest oil and gas producer.”

Source: China Experiences a Fracking Boom, and All the Problems That Go With It – The New York Times

Posted in: Business and Finance, China, Climate Change, Environment

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Mark Zuckerberg Wants Facebook to Emulate WeChat. Can It? – By Li Yuan – The New York Times

“SAN FRANCISCO — As Mark Zuckerberg begins shifting Facebook to private messaging and away from public sharing and open conversations, the vision he has sketched out for the future of social networking already exists — just not in the United States.

Instead, it is a reality in China through a messaging app called WeChat.

Developed by the Chinese internet giant Tencent in 2011, WeChat lets people message each other via one-on-one texts, audio or video calls. Users can also form groups of as many as 500 people on WeChat to discuss and debate the issues of the day.

While Facebook users constantly see ads in their News Feeds, WeChat users only see one or two ads a day in their Moment feeds. That’s because WeChat isn’t dependent on advertising for making money. It has a mobile payments system that has been widely adopted in China, which allows people to shop, play games, pay utility bills and order meal deliveries all from within the app. WeChat gets a commission from many of these services.

“WeChat has shown definitively that private messaging, especially the small groups, is the future,” said Jeffrey Towson, a professor of investment at Peking University. “It is the uber utility of business and life. It has shown the path.” “

Source: Mark Zuckerberg Wants Facebook to Emulate WeChat. Can It? – The New York Times

Posted in: China, Information Technology, Journalism, Media and Social Media

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Opinion | America the Cowardly Bully – By Paul Krugman – The New York Times

Paul Krugman

By Paul Krugman

Opinion Columnist

Image.  President Trump’s trade belligerence has done lasting damage to America’s reputation.CreditCreditPete Marovich for The New York Times

“This is the way the trade war ends. Not with a bang but with empty bombast.

According to multiple news organizations, the U.S. and China are close to a deal that would effectively end trade hostilities. Under the reported deal, America would remove most of the tariffs it imposed last year. China, for its part, would end its retaliatory tariffs, make some changes to its investment and competition policies and direct state enterprises to buy specified amounts of U.S. agricultural and energy products.

The Trump administration will, of course, trumpet the deal as a triumph. In reality, however, it’s much ado about nothing much.

As described, the deal would do little to address real complaints about Chinese policy, which mainly involve China’s systematic expropriation of intellectual property. Nor would it do much to address Donald Trump’s pet although misguided peeve, the imbalance in U.S.-China trade. Basically, Trump will have backed down.

If this is the story, it will repeat what we saw on the North American Free Trade Agreement, which Trump denounced as the “worst trade deal ever made.” In the end, what Trump negotiated — the U.S. Mexico Canada Agreement, or U.S.M.C.A. — was very similar to the previous status quo. Trade experts I know, when not referring to it as the Village People agreement, call it “Nafta 0.8”: fundamentally the same as Nafta, but a bit worse.”

Source: Opinion | America the Cowardly Bully – The New York Times

Posted in: Trade and Trade Policy, Trade and Trade Policy

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