- Revised data now shows that China became the world’s third largest economy in 2007, surpassing Germany and trailing only the US and Japan. Merrill Lynch economist Lu TIng predicts that the number two spot will be within reach in “three to four years”.
- China cracks down on counterfeit bills as the Chinese New Year, a peak season for cash transactions, approaches. The fake bills are usually sold for 10 cents on the dollar, and often have serial numbers starting with ‘HD90’.
- Police apprehended 13 “baby-snatchers” and rescued five kidnapped children yesterday.
- The LA Times reports that Bush has “many fans in China”. Blogger Peking Duck disagrees.
- Think driving in China is dangerous? Well, it is. Though China has only 5% of the world’s cars, it accounts for 20% of traffic accidents globally.
- Those mildly amusing video screens you find in the back of Shanghai taxis are “likely to be banned” in the near future. The potential ban is part of a clampdown on outdoor advertising that is being undertaken in advance of the 2010 World Expo.
Photo from Laurence&Annie