We went to a beautiful wedding today.  Ezra and Rebekah.  I could not be happier for them both. 

Terrible picture but I snapped it as we were running across the parking lot. 

Today's post is just a hodgepodge.  I found a few more pictures from the past.

I really wish I could remember who's graduation this was for.  I do remember him being really excited to wear the hat, though.  :)

I just always thought this one was funny. 

That's it for today...not much creativity in this tired head.

So my best friend lives and works in Memphis, Tennessee. A beautiful state, and one of my favorite places to visit. JT works for a very large corporation that is, by trade, a delivery service. I don't want to give anything away, but you've probably had something delivered to your home or work from this company. No...he doesn't work at the post office. No, no...not Graceland either! Think about it, people!

Anyway...so he lives in Memphis. Now, JT has been my best friend since college. A little history on our relationship. JT and I actually went to high school together for 2 years. But we weren't friends. Not that we were enemies either. We just ran with different groups. JT had his group of friends. I had my corner of the library where I hid and no one talked to me (just kidding. I was VERY popular. Especially with the girls...). So I transferred to a public school my junior year and from there on out, you would have thought that I would have never seen JT again, or even remember him 20 years later. But that wasn't to be the case.

JT and I ended up attending the same college (Ohio University-Zanesville) and working part-time for the same television station. As you can imagine, we became close friends. After 2 years of spending weekdays going to school together, and evenings working together, and weekends partying together (if you consider cruising the main strip and hanging at the mall "partying"), JT soon became my bestest friend in all the world. We then both graduated with our Associates degree and moved our little comedy show to Athens, OH where we terrorized co-eds for the next 2 years. JT got out of the television business (smart move) and took classes that would actually benefit him in his future. I decided to remain in the television production field and took film classes that allowed me to watch movies to get credit. After 2 years at Ohio U., JT went on to further his college career somewhere in Connecticut, and I got a job BACK in Zanesville where I slept on my parent's couch and continued to make minimal money. But it didn't matter where he went after our 4 years together, the guy will always be my best friend, no matter where he went.

Cut to many years later. JT was the best man in my wedding. THAT fell apart and I blamed him for not STOPPING me from getting married! The next time, I had my brother by my side. I figured having JT as my best man again would have been bad luck. So I stuck him at the end of the line (just kidding...he was right there somewhere. I don't remember where...). I was the best man at his first (and only) wedding. Oh yeah...I was also the videographer and worked my ASS off! But it was worth it. His video looked really cool...and his wife was happy. So that's all that mattered.

Now, I come to find out, that my best friend, who I've seen through his worst times (okay...really they were MY worst times...but let's not go there), who used to get me free cheeseburgers at Wendy's, who used to cringe when riding in the passanger seat of my Volkswagen Bug, who used to fall asleep in his living room while I was pouring out my heart about the latest girl that I was in love with, who got me HAMMERED in New Orleans while drinking shots out of some hot waitresses g-string, who still, to this day, has no idea what my phone number is (because he NEVER freakin' calls me!)...has  a SECRETARY?!?!?

Actually, he has had a secretary for 6 YEARS he tells me today. 6 YEARS?!?! And I didn't know? All of the things we have shared? All of the good times we've had? All of the women we've been through? Okay...maybe not too many women...but you get the idea. And now he has a SECRETARY? For the past 6 YEARS??? And I didn't know?!?!

WTF?!?!?!?!

Well...that's just not right. Now I HAVE to get me a secretary. We're the same age and HE has one. So now I have to get one, right? I mean, he CAN'T be MORE IMPORTANT than me? Can he? I swear...all he does is go to meetings all day long! Oh wait....maybe that's WHY he needs a secretary. To make sure he gets to and from his meetings on time...

Well then...THAT makes sense.

Okay...nevermind. I don't need a secretary now. But I'll tell ya what I COULD use. A babysitter! And one who actually WANTS to come over twice a week and watch my kids so I can take my wife out for dinner and a movie. Now THAT would be cool! Pttttth...only a geek would need a secretary...HAHAHAHAHAHAHA!

JT...you are such a dork. But I miss you all the same.

The worst thing a consumer with bad credit could do is search out a loan or a lender specializing in their unfortunate situation. These loans often include extremely high interest rates. High interest rates can hike up a monthly payment which in turn makes it even more difficult to make payments on time or even at all, thus reinforcing the bad credit cycle.

And while it is important to have positive new accounts reflected in your credit, it is vital to make certain steps first. First and foremost, when repairing bad credit, you should do all that you can to have the negatives removed from your credit report; meaning dispute all negative items that don’t belong on your credit report. Once that is taken care of, you can start to rebuild your credit. Start with a few secured credit cards. Try to pay your balance off monthly or keep your balance at 40% of your total credit line. If this seems insurmountable, try contacting your local credit union. They are sometimes able to start you with a low limit, unsecured card. Monthly payments with either one of these options should be only $10-$20 per month. In a short three to six month period, you should see your credit scores rise and you are well on your way to credit report repair.

Of course quicker credit repair options are out there and available to those who have a little more cash on hand. But if money is tight, these are the quickest and the best alternatives to those who are on a budget.

If you repair your credit you should not be intimidated. It just takes a little bit of research and patience to get back on track again. It is possible to turn your situation around even in these hard times.

I guess I need to go by Reinhold Niebuhr's quote:

“God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.”

i have 3 flasks in different sizes. if you stay ready....

so last night i broke my hiatus to show my face at the Coco Black's (the tall gal from the agytators) bday party. id met them both a year (or was it 2?) ago at the brooklyn hip hop festival but as of late thanks to filth and kristy being fucking awesome ive been bumping into them more. the occasion coupled with the fact that my homie jack davey (aka make dondub puff the j) was in town to spin the event was reason enough to bring me out of my cramped apartment and into the cramped club. needless to say between my flask and the champagne moochery that occured via the table full of random girls that just handed me a drink i got a lil drunk. all the beautiful people were there and of course the homie mel was there to capture them all. click here to see

i woke up pretty hung over but that did not stop me from finally getting to say bye to my brooklyn summer. see i had big plans this summer and tour was not one of them. we got the call to go on like 3 weeks before we left. and while tour does stand as one of greatest moments of 08 for me anybody who lives in brooklyn can tell you that summer in brooklyn is nothing short of amazing. when i bought my bike my goal was to ride to the brooklyn bridge but between being tired and popped tires i never made it in time before we hopped in the hiero van. so what did i do today? out of boredom i accidentally rode to the brooklyn bridge and back.

i had a pretty dope time going on my personal farewell fairweather tour of brooklyn and even found the waterfalls too boot. while they werent as riveting as you would think it was still cool to stumble upon not one but 3 of them. they were definitely nice easter eggs in my day. i went from ft greene park, to fulton mall, to the brooklyn promenade, to the brooklyn bridge to dumbo where i got some of my favorite pizza. i musta biked like 10 miles easy today and i capped it all off by sitting in front of habana outpost one more time.

all in all i had a good time aside from the blister on my finger i got via the pliers i used to adjust my brake. so whats next? well its saturday night and im blogging so you KNOW its not much poppin. i can either watch apocalypse now, snl reruns or network television. that is unless my homie wyatt hits me back up about some party that i may be too exhasted to go to from all that biking.

oh yeah and i'm hearing i need to record for mick boogie again, maybe i should do that... or my verse for ced hughes... or my verse for che grand... or my verse for spec boogie... or my verses for brooklynati... who the hell am i forgetting!?!?

]]> http://dianeslao.wordpress.com/?p=218 Sun, 12 Oct 2008 01:34:31 +0000 lao http://dianeslao.id.wordpress.com/2008/10/12/the-gaga-got-tired-in-shanghai/  

After not sleeping to get to an early flight, got stuck at the airplane as it was delayed for 2 hours, nonstop work, nightly gimiks and shopping, and after scoring the best cellphone deal for my friends, I finally felt tired while waiting for Rodney finish his last minute shopping. I wanted sooo bad to have a hot shower then sleep in my hotel. But I forced everybody to stop by at 'THE BUND', before heading home. I wanted to see what's the fuss as some ppl who's gone here and our chinese counterparts have all recommended the place.

It was the view of Shanghai, great architectural buildings that I think was thoroughly planned. One thing I like about this place is that almost everything is planned, buildings just don't come nowhere, all are properly in placed. I lived in 2 extreme places, one was a semi-city while the other is really provincial. I like Cavite as I still can see trees and I like Cebu as everything is accessible, there's always a lot of options to go if u want to have a fun night or just chill in starbucks with friends. Shanghai I think is the best of both worlds. I am amazed as to why there are still a lot of trees as everywhere I see is just pure city. BUT… for some reason I felt sooooo safe here. Being a tourist, I felt that nobody would come from behind and grab my bag. And I feel that even if the taxi driver couldn’t understand what we are saying english, tagalog or bisaya (with rodney) he'd still take us to wherever we wish to go and not worry that he'd take us somewhere dark for a hold up. After 4 days, I don't have anything to say bad about the place, prolly because we never went to the center and see for ourselves the dirty places my counterpart mentioned. But they've never really gone trough the dirty places in manila or colon in Cebu. That I think is hands down dirty. Hahaha!!

Despite all the rush and feeling awesome as I get to come home to a really nice hotel complete with all amenities, I still can’t stop counting the days to finally get home and sleep to prolly by now a dusty bedroom.

To be honest, before this election cycle I wasn't biased one way or another towards a party.  I always voted for the person regardless of party affliation.  But now I don't feel that they is a political party for me.  I'm fiscally conservative and I don't give a rip about what goes on in other people personal lives -- what is that?  A "Reblicrat"?.  Now I see that none of the politicians know how to handle money, nor manage instituions, and too many of them are wrapped around the finger of people who feel that their god is the only righteous god.

When I think about now, the song "Compared to What?" comes to mind.   It's a song filled with frustrations from the 60's that seems as relevant today as it did then.  If you don't know it, here are the lyrics (warning the lyrics are course and "raw"):

1. Love the lie and lie the love
Hangin' on, with a push and shove
Possession is the motivation
that is hangin' up the God-damn nation
Looks like we always end up in a rut (everybody now!)
Tryin' to make it real — compared to what?

2. Slaughterhouse is killin' hogs
Twisted children killin' frogs
Poor dumb rednecks rollin' logs
Tired old ladies kissin' dogs
I Hate the human, love that stinking mutt (I can't stand it!)
Try to make it real — compared to what?

3. The President, he's got his war
Folks don't know just what it's for
Nobody gives us rhyme or reason
Have one doubt, they call it treason
We're chicken-feathers, all without one gut (God damn it!)
Tryin' to make it real — compared to what? (Sock it to me, now)

4. Church on Sunday, sleep and nod
Tryin' to duck the wrath of God
Preacher's fillin' us with fright
Tryin' to tell us what he thinks is right
He really got to be some kind of nut (I can't use it!)
Tryin' to make it real — compared to what?

5. Where's that bee and where's that honey?
Where's my God and where's my money
Unreal values, crass distortion
Unwed mothers need abortion
Kind of brings to mind ol' young King Tut (He did it now)
Tried to make it real — compared to what?!

© Eugene McDaniels

Of course, I'm not as angry as this song is, but it resonates with me right now in terms of questioning what is really important right now.  This is a song that you really need to hear performed.  I first heard this from a tape of the "Atlantic Jazz and Soul" album when I was in my early teens.  It's kind of a rough song for a child, but I think I've always understood the intent behind it and I never really wanted to live in the world this song describes -- but here we are again.  I guess we didn't learn what we were supposed to learn ...  I hope everything will turn out okay.

It's strange. During past year there was a lot of changes in my life. I fell in love (or I just wanted to be in love), I broke up, my greatest dream came true.  Now I have no boyfriend and no new dreams. Sometimes I feel emptiness  but only sometimes.

But I started my note writting about P, so... A few weeks ago P. told something that haunts me. It was just a joke, but when P. is joking I don't ever know what he wants to tell me by that. Moreover lately when we were on business meeting P. was looking at me in that special way which I remember from last year autumn. I was so much thinking about it that he appeared in my dream last night. We were a couple, I don't remeber much more.

I was in awe at the beauty of the Fall day today and felt at peace just taking in everything around me.  Then I came upon a waterfall and spent a bit of time reflecting on life, and the true beauty of nature.  I only wish I had someone with me to have enjoyed everything I saw today.

I hope that you enjoyed my walk as much as I did.

My project has been to come up with three 25-minute sessions teaching the basics of html. A big portion of the school is doing home-room swaps for three Fridays, and I got volunteered to come up with something that I like to do that I'd want to show students.

It's actually a neat concept, and everyone seems to like it. It's all supposed to be based around what teachers like to do, not what they think students would like (though most can't help but think in those terms). So there are classes on golf, four-wheeling, raising chickens as pets (giant WTF there). And me doing Basic HTML Coding.

I had come up with a three-part series on creating a basic page, adding a CSS page, then lastly creating a four-page website on the computer. To speed up the process, I was going to have ready-made text to fill in the sites, they were just going to provide the code. What was the text? Beatles lyrics. Sgt Pepper, Eleanor Rigby, Yesterday, and Yellow Submarine.

Friday went fine, though as always I had assumed more of the kids than I ought to have. But I also hate to be going so slow as to bore others. All in all, it was good. I had nearly twenty students. Most were able to keep up, a couple had small troubles, and there's always the two kids. One kid being the one so advanced he'd be able to show me a couple of things, the other who only knows how to say, 'you're going too fast.' The latter kid, though, took 3 minutes to just type his name. His first name. I let Darwin take care of him.

The best moment had to be before it even happened. On Thursday I was working on some machines in a classroom during home-room. The teacher was reading off where students were going to be for the following day's festivities.

Teacher: Amanda, you're in World Drumming. Bethany, you're in Poetry Reading. Billy, you're in Basic HTML Coding.

Billy: YES!

I don't know whether to hope or weep for the future. Imagine if I had opened up a Dungeons and Dragons course...

Sprung front end.

Sprung seat.

Mini-Apes...

I'm droolin' (and my VTX is getting jealous!)

If anyone is feeling generous, I take deliveries at 5130 Woolridge Rd., Moseley, VA. :)

Doctors praise herbalist treating own cancer

(China Daily)
Updated: 2007-03-06 08:42

A middle-aged man in Beijing has been treating his skin cancer by
gathering medicinal herbs for more than 10 years, and his condition seems
to be well controlled.

Ten years ago, the condition of the patient, surnamed Yan, was so
helpless that the hospital sent him home.

But his father, a senior herbal doctor, has refused to give up helping
him by making a medicine with herbs at home.

Touched by his father's love, the patient began gathering herbs for
himself, making medicine and treating himself.

Doctors at a hospital praised his efforts after giving him a checkup on
Wednesday.

(Beijing Morning Post)

Top China News

� Wen targets balanced growth

� We'll be flexible with yuan: bank chief

� PLA rebuffs criticism of budget

� Secession talk is a dangerous step

� Wen: China to rein in soaring housing price

Today's Top News

� We'll be flexible with yuan: bank chief

� Wen targets balanced growth

� PLA rebuffs criticism of budget

� Secession talk is a dangerous step

� Premier: Economy growth to slow down to 8%

Most Commented/Read Stories in 48 Hours

To be continued

Banker: China to be flexible with yuan

By Bao Daozu (China Daily)
Updated: 2007-03-06 07:12

Zhou Xiaochuan, governor of the People's Bank of China or the central
bank, speaks at an economic forum in Beijing in this May 24, 2005 photo.
Zhou said on March 5 at the ongoing NPC session that the current yuan
flexibility is sufficient. [newsphoto]

The renminbi foreign exchange rate's trading band could be widened this
year but was "sufficient" at the moment, central bank chief Zhou
Xiaochuan said on Monday, March 5.

"I prefer not to comment on the pace (of the exchange rate's adjustment)
because it is determined by the market," Zhou, the governor of the
People's Bank of China (PBOC), told reporters on the sidelines of the
annual session of the National People's Congress.

Special coverage:
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"However, as the adjustment is determined by supply-demand relationship
in the market, it should be appropriate."

In July 2005, China abandoned the renminbi's decade-old peg to the US
dollar and appreciate the currency by 2.1 percent. Since then, the yuan
has gained almost another 5 percent against the dollar.

The yuan now rises or falls by about 0.3 percent a day against the US
dollar, and by 3 percent against other major currencies.

"The flexibility is sufficient for the moment," Zhou said.

"But I would not rule out the possibility of it being widened when the
current fluctuation range is not sufficient."

In addition to the renminbi's exchange rate, use of the country's hefty
foreign exchange reserves was also a hot topic during the NPC session.

Wu Xiaoling, vice-governor of the central bank, confirmed reports that a
foreign exchange investment company would not be established to tap the
reserves, without elaborating.

However, Guo Shuqing, the former head of the State Administration of
Foreign Exchange, yesterday offered what he regarded as investment
strategy for the operation of the company to be established.

Guo, who is now chairman of the China Construction Bank, said funds of
the company should not be used domestically and should be invested mainly
in financial assets such as bonds.

"It will make no sense if the money is used in the country because that
will equal with new investments in renminbi," Guo, a member of the
Chinese People's Political Consultative Conference (CPPCC) National
Committee, said.

Investment targets should be limited to financial assets because the
country has not enough hands to manage the investment if the money is put
into industrial projects, he said.

Guo dismissed reports about him being appointed as a key executive at the
investment company.

Meanwhile, regulators are aiming to open the country's markets to stock
index futures in the first half of this year.

Fan Fuchun, vice chairman of the China Securities Regulatory Commission
(CSRC), made the announcement in a meeting of the annual top legislative
body.

The CSRC had made a systematic research on the issues of fund companies'
involvement in stock index futures, he said, without elaborating.

International financial giants have reportedly been lobbying Chinese
regulators to let them join the first batch of investors to trade the
nation's pioneering stock index futures.

The trade of stock index futures would be launched on the Shanghai-based
China Financial Futures Exchange, CSRC chairman Shang Fulin said in
October last year.

Market watchers believe the introduction of such derivatives could
provide institutions with a much-needed tool to hedge risks, but may also
spur speculation and widen volatility.

The China Financial Futures Exchange, the country's first financial
derivatives exchange, was inaugurated on September 8, 2006.

Top China News

� Wen targets balanced growth

� Banker: China to be flexible with yuan

� PLA rebuffs criticism of budget

� Secession talk is a dangerous step

� Wen: China to rein in soaring housing price

Today's Top News

� China urges Japan to face up to history

� Banker: China to be flexible with yuan

� Wen targets balanced growth

� Pilot crashes into in-laws' house

� Premier: Economy growth to slow down to 8%

Most Commented/Read Stories in 48 Hours

**** ****

I found the full texts of the ballot initiatives at the state's site, but some of them are confusing as hell. When an issue boils down to some kind of republican/democrat bickering, it can be hard to tell. Then I found this kind-of-sort-of "progressive" site called coloradoballot.net that helped me out a lot. It's not that I agreed with them (in fact, I may have ended up about 50/50), but they did a good job, as far as I can tell, of putting the measures into language and state politics contexts that make sense to me. Their conclusions are definitely pro-business and capitalistic, though.

One big advantage of starting this process early is that I have plenty of time to get feedback from people and adjust my decisions (and endorsements) as need be. So please, help me research these ballot measures. I am not completely informed, but I plan on being so by November 4. Leave a comment if you have any additional information or arguments on any of these issues. I am not set in stone about my answers yet.

Anything in the 40s -NO

These are what I am going to call the conservative douche bag core of initiatives. Here you have:

46: End affirmative action by calling for "equality". You can tell a conservative douche bag wrote this because they use "sex" instead of "gender" or "gender identity".

47: End union dues. As much as union dues kind of suck, you can't make union dues optional. Why would anyone pay them if they didn't have to? Maybe some union workers believe they have a duty to the whole, but the rest are struggling to buy $6 cauliflower. Enforced dues are important if we do not want to be reminded what happens to workers without a union.

48: Outlaw abortion. Or, even better, make anyone who gets an abortion (and the doctor) murderers. Or better yet, outlaw some forms of birth control in which eggs may be fertilized before being expelled from the body. I don't really need to explain this one.

49: Do something that makes unions mad. I don't really get this one yet. I could use some help. It sounds kind of bad, but I don't really know. Something about reinstating something Bill Owens instated in 2001 that Ritter overturned in 2007. If Owens was for it, it probably sucks, right? Anyone else know anything about this one?

50 - NO

Increase the hours of operation for casinos, allow roulette and craps and increase the maximum allowed bet. Yeah, exactly what we need when the people are about to enter hard economic times. How about, we'll increase all of this when all casino profits go to feeding and housing people in Colorado. I'd vote yes on that. Though to be fair, the line bet in craps is supposed to be one of the most fair bets in the whole casino, so I hear.

51 - YES

Increase taxes to help developmentally disabled. Here is where coloradoballot.net and I part ways. I don't really care how developmentally disabled people and organizations get money. If it's a constitutional amendment, then so be it. They need money. I have a very good friend from Colorado who is facing the harsh realities of low funding for developmentally disabled Coloradans, and she is very excited about this issue. I trust her, and I trust the way the amendment is worded. I am open to suggestion if anyone knows something I don't. But the fear of other special interest groups trying to get their own amendments on the ballot to increase their funding is not something I fear. I would embrace that. The people could decide what we should pay for. Imagine that!

52 -NO

Increase some mineral and mineral fuel extraction tax to concentrate funds on the I-70 corridor. Well, I don't really care about I-70, and it seems stupid to tax environment destroyers and then put that money into a project that will make it easier for others to also destroy the environment. Put the money towards public transit and we might have a YES vote. Again, though, I am open to new information and arguments here.

53 -YES

Criminalize actions (or inactions) by executives for law broken by their companies. Hell yes I am voting for this. It is so freaking impossible to get retribution for the wrongdoings of these executives. If you reap the benefits of exploitation, then you will take the punishment when you are found out for it. I don't care if you were evil and did it on purpose or if you were stupid and had no idea your company was doing it. You are still a criminal. Some are worried this will keep businesses from coming here. Awesome.

54 - YES

Banning contractor companies who receive non-competitive bids from the government from contributing to campaigns, and banning companies who contribute to a ballot issue from receiving contracts related to that issue. I need some help here. While this sounds really good, coloradoballot.net is convinced that this is just a way to keep unions from contributing to Democrats. If so, I don't really want to help in dumb ass party bickering. So I need some more information on this one, I think.

55 - YES

Requires private employers to have "just cause" to fire a full-time employee. Sounds good to me. What just cause means can be argued out in court later. But too many people get fired for no other reason than employer greed. Want the company to make a little more money? Cut your executives' salaries, don't fire the woman with two children at home. coloradoballot.net thinks this will be devastating to businesses because they won't be able to fire people. But union businesses have these "just cause" clauses and they seem fine. But I am open to new information and arguments, of course.

56 -YES

Requires employers (20 or more employees) to offer health insurance to employees. Honestly, I am a little torn on this one. I think yes because people just need freaking health insurance and I don't care how they get it. But I am not sure this is a burden the employer needs to take on. After all, will this just keep them from hiring people or giving people raises? I'm not sure it would "decimate entire sectors of the economy here in Colorado", but it doesn't seem like a measure that is really going to end up putting more money in employee pockets, either. Does anyone have any ideas on this one?

57 -YES

Companies liable for employee injuries. Awesome. Too many companies get away with way too much. Worker's Comp. just is not enough many times, especially if the injury is long-lasting or psychological. The courts will define "injury" later. For now, if a company does not want this to affect them, they better not let their employees work in a toxic, dangerous environment.

58 -YES

Take money from oil companies and use it to fund higher education. Uh, duh.

59 - YES

Remove tax rebate in order to fund pre-K-12 education. This sounds good to me. It's good, right? Are we OK with leaving future education funding increases up to the state legislature instead of guaranteeing they will grow with inflation?

L - YES

Lower the age requirement to serve in the Colorado General Assembly to 21. Definitely. Hey, maybe I'll run next campaign ...

M and N - YES

Remove obsolete provisions. Sure, why not? These are of little concern.

O - NO

Make it harder for citizens to put a constitutional initiative on the ballot, but easier to put a statutory initiative. I would be for this if I trusted our "elected" officials. But they can't touch constitutional amendments (in theory), so in a nation where the people have so little power, being able to directly change our state constitution is incredibly important. And, hey, wake up. HAVING THIS MANY BALLOT INITIATIVES IS A GOOD THING!

Like I said earlier, this almost feels like a hint of democracy. Almost.

Please submit comments and I will make sure to keep this article updated as new information arrives. I have  a feeling some YESes may turn to NOs...

China didn't trigger global stocks rout

(Reuters)
Updated: 2007-03-05 14:41

China's stock market is too small and has too little foreign
participation to be blamed for triggering last week's rout in global
share prices, the country's securities regulator said on Monday.

Shang Fulin, chairman of the China Securities Regulatory Commission.
[file]
"China's stock market right now is relatively small and not very
globalize. So it's not possible for it to have such an impact," Shang
Fulin, chairman of the China Securities Regulatory Commission (CSRC),
told reporters.

A plunge of 8.84 percent last Tuesday in the benchmark Shanghai Composite
Index, the biggest drop in a decade, served as a wake-up call to global
investors that they had been underpricing risk assets around the world.

Weak U.S. durable goods orders and worries about defaults on poor-quality
mortgages later drove U.S. share prices sharply lower. Global markets
have been struggling to stabilize ever since.

But Shang said each market behaved according to its own characteristics.

"Markets in different countries are mainly influenced by their own
domestic conditions and will influence each other according to the
globalization of their market," he said on the sidelines of the annual
session of the National People's Congress, China's parliament.

Shang said the question of whether the CSRC would assume oversight of
China's corporate bond market was under active consideration.

The National Development and Reform Commission (NDRC), the top planning
agency, is currently responsible for approving new issues.

Critics complain that the NDRC's conservative issuance criteria have
stunted volumes at a time when developing the capital markets should be a
priority for a country where banks provide some 80 percent of companies'
external funding.

Top China News

� Premier: Economy growth to slow down to 8%

� 'RMB's rise should be controlled'

� Sound healthcare system needed

� US urged not to sell missiles to Taiwan

� U.S. seeks closer cooperation with China in securing world peace

Today's Top News

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Key Reports

China to curb lending, investment

(Bloomberg)
Updated: 2007-03-05 10:37

China will take more steps to curb investment and lending, Premier Wen
Jiabao said, as the government tries to stop the world's fastest-growing
major economy from overheating.

The country will further regulate real estate, Wen told the annual
meeting of the National People's Congress in Beijing.

China needs to prevent cash from the country's record trade surplus from
stoking inflation and raising the risk of asset bubbles and investment in
unneeded factories. The economy accounts for about a tenth of global
growth and expanded by 10.7 percent in 2006, the fastest pace in 11 years.

The government is "focusing more on the quality of growth than the pace
of growth," said Isaac Meng, senior economist at BNP Paribas Securities
Asia in Beijing. "How to cool down real estate and dampen property prices
remains a key focus."

Wen reiterated the target in China's five-year plan of 8 percent annual
growth in 2007. His speech mostly restated existing policies. The
government will control excess liquidity and further boost domestic
consumption, Wen said.

China's growth targets are "regularly set and regularly exceeded," said
Stephen Green, senior economist at Standard Chartered Bank Plc. in
Shanghai.

China is trying to reduce a reliance on exports and achieve more balanced
growth. The boom in overseas sales pushed foreign exchange reserves to $1
trillion and created tension with trading partners. China's exports are
cheap because the yuan is kept weak, U.S. and European manufacturers and
lawmakers say.

Borrowing Costs

The central bank raised interest rates in April and August and last month
ordered banks to set aside more money as reserves for the fifth time in
eight months, seeking to prevent an overheating.

Investment growth in the first two months of this year is likely to
trigger a rise in rates, Green said. Eleven of 14 economists surveyed by
Bloomberg News in January predicted the central bank will raise its
benchmark rate in the first half from 6.12 percent.

China's property prices rose faster in January, led by roughly 10 percent
growth in Shenzhen and Beijing, confounding government attempts to slow
gains. China's stocks have this year touched record highs and also
slumped by the most in a decade, raising concern about bubbles.

"We want growth to be slower, but it's not sure whether we can achieve 8
percent," central bank Governor Zhou Xiaochuan said Feb. 9.

Ballooning Surplus

China's 2006 trade surplus ballooned by 74 percent to $177.5 billion. The
U.S. trade deficit with the nation reached a record $232.5 billion.

Consumer prices rose more quickly in December and January than in the
previous 20 months, with increases of 2.8 percent and 2.2 percent
respectively. Central bank assistant governor Yi Gang said last month
that the government is determined to fight inflation this year.

Investment and lending may rebound, increasing the risk of accelerating
consumer price increases, the People's Bank of China said in February.
China's new yuan lending last year totaled 3.18 trillion yuan ($410
billion), overshooting the bank's target by 27 percent.

Question Session

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