Economy – Page 2

North Korea News Today

Will China Prevent Korean Reunification?

A recent report by a United States Senate Republican committee speculates that the People’s Republic of China (PRC) could prevent any potential reunification of North Korea and South Korea in the event that the Kim family is thrown out of power or the government of the DPRK collapses. Of course, such a scenario is not entirely implausible […]

Dell Considering Privatization

Dell Computer, once a titan of the PC industry in the 1990s, is rumored to be considering a private buyout that would take the corporation into the realm of private equity and allow it to reconfigure itself for future markets without the scrutiny of shareholders. Rather than face the fate of RIM or HP, both […]

Mohamed Abdi Hassan, aka “Afweyne” or “Big Mouth,” Somalia’s Most Successful Pirate Announces Retirement Due to Decline in Pirateable Ships

The world economy is taking a toll on Somali pirates as Somalia’s most successful pirate announces his retirement because it is no longer profitable for him to continue. Mohamed Abdi Hassan catapulted to fame in 2008 when he and his crew seized the Sirius Star, a Saudi Arabian tanker loaded with $100 million worth of oil and roughly equivalent in […]

US Oil Production to Rise 25% Due to Reserves of Shale Oil

Oil production in the United States will reach its highest level in 26 years due to the discovery of large reserves of shale oil according to an estimate released by the Energy Information Administration (EIA). Due to a rise in domestic production, oil imports to the United States will fall, positioning the United States to […]

Japanese Economy Heading Towards a Recession

Preliminary figures suggest that the economy of Japan is heading for a recession after a year with strained relations with China, a major trading partner, and an extremely strong yen currency, both of which have combined to result in a slowdown for the world’s third largest economy. Revised official data on Monday morning showed that […]

Suzuki to End Production and Distribution in the United States

The Japanese car manufacturer Suzuki announced it would be withdrawing from the American market after suffering years of losses because of dwindling sales and increasingly marginal vehicles. In addition to these woes, many of Suzuki’s manufacturing partners have withdrawn or cut off access to certain vehicle platforms, leaving the small car maker woefully underrepresented in […]

Rich Chinese Increasingly Finding Happiness is in Living Elsewhere

Wealthy citizens of the People’s Republic of China (PRC) are increasingly immigrating to nations like the United States, Canada, and the United Kingdom in search of better schools, cleaner air, and a higher quality of life. A recent poll of Chinese millionaires found that 16% held foreign residency while 44% planned on to move out […]

Does PRC Prime Minister Wen Jiabao’s Family Control Hidden Fortune?

It would seem contradictory, even some would say almost to the level of self-parody, that a government official and party member in a nominally communist country could be tied to a family that controls a fortune rumored to be valued in the billions of dollars. Yet such is the rumor with the Prime Minister of […]

The Hurun Rich List in China Reports Fewer Chinese Billionaires This Year than Last

The Hurun Rich List in the People’s Republic of China (PRC) reports that the number of Chinese billionaires has decreased this year with only 251 people making the list while 271 were on it last year. In 2006 only 15 billionaires were on the Hurun Rich List but this year marks the first time in […]

News

The Rise of South Korea: How Economic Success is Transforming the Republic of Korea into Asia’s Newest Power Broker

The Economy of South Korea: How the “Miracle on the Han” Transformed the Republic of Korea into an Economic Superpower South Korea’s chaebol: Economy at a crossroads – Counting the Cost from Al Jazeera English The rise of the Republic of Korea’s economy has placed South Korea on the world map as a leader in […]