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500,000 visit Macedonian pavilion at Shanghai Expo 2010 June 24, 2010

Posted by Yilan in China, Macedonia.
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Half a million people from all four corners of the world have visited the Macedonian pavilion at the biggest global exhibition, Expo 2010 Shanghai China, since its opening on May 1 till today, Deputy Economy Minister and national commissioner of the exhibit, Metodij Hadzi-Vaskov said at a press briefing today.

Macedonia is being presented, Hadzi-Vaskov informed, as a country with tradition for preparing quality wine, there are wine tastings every day and the Chinese market is very interesting for Macedonian manufacturers. Macedonia, whose first cycle for presentation has ended, between May 1 and October 31 is presented under the motto “Urban Continuity”.

Macedonia, it was noted at the press briefing, for the first time has a pavilion spreading on 324 square meters, where visitors – companies and officials from all over the world – have the chance to learn about the country. – With a digital presentation the beauties of Macedonia are being screened, its urban continuity, the way it was managed in the past (the archaeological sites of Stobi, Heraclea) till the present, the deputy minister said.

Presentations involving tourism – mainly alternative and rural tourism – will be held in the second cycle of Macedonian presentations at the Shanghai Expo.

It is planned, Hadzi-Vaskov stated, a presentation to be held on Macedonia’s technical achievements in the energy sector, with an emphasis on renewable sources.

The third cycle of Macedonia’s presentations at the Expo 2010 will include authentic traditional handicraft products – filigree, Ohrid pearl, traditional costumes etc…

Expo 2010 Shanghai enables 240 participants from 190 countries to exchange experiences in terms of urban development, to explore fresh access to lifestyles in cities and to create ecologically better societies.

Macedonian Defence Minister Visits People’s Republic of China May 26, 2010

Posted by Yilan in China, Macedonia.
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In the framework of his visit to People’s Republic of China, Macedonian Defence Minister Konjanovski will have a meeting with General Xu Cai Hou, Deputy Chairman of the Central Military Committee of the People’s Republic of China, which is chaired by the President of People’s Republic of China.

During the meeting, Minister Konjanovski conveyed the regards of the President of the Republic of Macedonia, the President of Government and the Chief of General Staff of the ARM, expressed his gratitude for the principal policy of People’s Republic of China for the Republic of Macedonia and for the strong support that the People’s Republic of China is providing to our country. Underlining that the priorities of the Republic of Macedonia are the Euro-Atlantic integration, Minister Konjanovski emphasized that at the same time we want to build excellent communication and cooperation with People’s Republic of China, thanking at the same tine for the understanding that People’s Republic of China has for our positions and priorities.

At the meeting, which was attended by the Deputy Chief of the Army of People’s Republic of China, General Cai Hou emphasized the enhanced military cooperation between the Republic of Macedonia and People’s Republic of China, which was intensified this year with joint activities of both Ministries and armies and in accordance with the bilateral cooperation plan, it will continue next year as well. Furthermore, General Cai Hou underlined the economic development and industrial growth of People’s Republic of China.

Minister Konjanovski emphasized the position of the Republic of Macedonia for one China and welcomed the efforts of the People’s Republic of China for peaceful reintegration of all territories emphasizing that People’s Republic of China is a country that exports peace, stability and security.

In direction of enhancing and intensifying the cooperation, they discussed the visit of the Deputy CHOD of the Chinese Army to the Republic of Macedonia that is to take place in June this year, and the Deputy Chairman of the Central Military Committee of People’s Republic of China, General Cai Hou invited the Defence Minister Konjanovski to visit People’s Republic of China in the course of next year.

Conveying his pleasure from the cooperation hitherto, the two interlocutors agreed that the cooperation should be even more intensified in the future through frequent meetings on various levels.

During his visit to People’s Republic of China, the Minister of Defence Zoran Konjanovski, in addition to the meetings with high defence and military representatives of People’s Republic of China will also attend the Chinese – European high Forum of Political Parties that is being held in Beijing.

Roubini Says Greece May Lead Euro Exodus, China Faces Slowdown May 17, 2010

Posted by Yilan in China, EU, European Union, Yunanistan.
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New York University professor Nouriel Roubini said Greece and other “laggards” in the euro area may be forced to abandon the common currency in the next few years to spur their economies.

A “real depreciation” in the euro is needed to restore competitiveness in nations including Spain, Portugal and Italy, he said in an interview on Bloomberg Television today. The euro will remain the currency for a smaller number of countries that have “stronger fiscal and economic fundamentals,” Roubini said.

The European Union and International Monetary Fund last week approved a 110 billion-euro ($139 billion) lifeline for Greece to arrest the country’s fiscal crisis and stop the turmoil from spreading. Europe’s debt woes may push it into a “double-dip” recession, growth in advanced nations will be “anemic” and China’s overheating economy risks a slowdown, Roubini said, adding that Greece may still eventually need to restructure its debt.

“The challenge of reducing a budget deficit from 13 percent to 3 percent in Greece looks to me like mission impossible,” Roubini said. “I would not even rule out in the next few years one or more of these laggards of the euro zone might be forced to exit the monetary union.”

Greece agreed to the package on May 2, pledging 30 billion euros in wage and pension cuts and tax increases in the next three years to tame the euro-region’s second-biggest deficit.

Prime Minister George Papandreou had revised up the 2009 budget deficit to more than 12 percent of gross domestic product, four times the EU limit, and twice the previous government’s estimate. EU officials revised the deficit further on April 22, to 13.6 percent of GDP.

‘Ugly’ Process

The fiscal changes Greece needs to undertake as part of an international bailout will be an “ugly” process that will only get worse, Roubini said. Public opposition to the plan sparked riots in Athens last week that led to three deaths.

“They are not going to be able to raise taxes and cut spending that much,” he said. “As you raise taxes and cut spending in the short run, output is going to fall even more. The IMF expects another two to three years of recession in Greece. How much austerity and recession can a country take?”

The 16 euro nations, jolted into action by last week’s slide in the currency and soaring bond yields in Portugal and Spain, this week agreed to offer financial assistance worth as much as 750 billion euros to countries under attack from speculators. The European Central Bank said it will counter “severe tensions” in “certain” markets by purchasing government and private debt.

‘Not Convinced’

The MSCI Asia Pacific Index rose 0.2 percent to 119.02 as of 12:50 p.m. in Tokyo, as some companies forecast higher earnings. Standard & Poor’s 500 Index futures dropped 0.2 percent and the euro fell against the dollar for a second day, after climbing as high as $1.3094 on May 10 after eurozone officials announced the agreement.

“The markets are not convinced because while there is $1 trillion of money on the table, that money is going to be disbursed only if these countries do massive amounts of fiscal consolidation and structural reform,” Roubini said. One or more European economies may default on their debt, he said.

The lending plan is just “another nail in the coffin” for the currency, which is at risk of being “dissolved,” investor Jim Rogers said in a Bloomberg Television interview in Singapore today.

Spending Cuts

“This means that they’ve given up on the euro, they don’t particularly care if they have a sound currency,” the chairman of Rogers Holdings said. “You have all these countries spending money they don’t have and it’s now going to continue. Nobody is minding the economics behind the necessities to have a strong currency.”

A weaker euro may spur growth in Europe as spending cuts and higher taxes reduce consumption, said Sebastien Barbe, head of emerging-market research for Credit Agricole CIB in Hong Kong.     “The ECB cannot lower interest rates further and fiscal expansion is out of the question so it is up to external demand and a lower euro to help European growth,” Barbe said. “The euro is likely to continue to depreciate and a lower euro could save economic growth in countries like Germany.”

In China, where property prices rose at a record pace in April and consumer prices climbed at the fastest rate in 18 months, the economy faces the risk of a “significant slowdown,” Roubini said.

“China should be tightening monetary policy, increasing interest rates and let its currency appreciate over time,” he said. “They are too slow, they are not doing it fast enough.”