Chinese Economics Thread

[solarz]

I don't know how you can say that the level of potency is irrelevant if it was the US FDA that made the press release and also recommended that people did not have to retake it. If it was ineffective it would be irresponsible not to force a total recall.

I'm not sure what you are saying here. What's the difference, in your mind, between a "total recall" and a "voluntary recall"?

 

[Icmer]

I'm not sure what you are saying here. What's the difference, in your mind, between a "total recall" and a "voluntary recall"?

Voluntary Recalls - 21 CFR 7
A recall is a method of removing or correcting products that are in violation of laws administered by the Food and Drug Administration (FDA). Recall is a voluntary action that takes place because manufacturers and distributors carry out their responsibility to protect the public health and well-being from products that present a risk of injury or gross deception or are otherwise defective. 21 CFR 7 provides guidance so that responsible firms may conduct an effective recall.

A recall is an alternative to an FDA-initiated court action for removing or correcting violative products that have been distributed. 21 CFR 7 sets forth specific recall procedures for FDA to monitor recalls and assess the adequacy of a firm's efforts in recall. Recall may be undertaken voluntarily and at any time by manufacturers and distributors, or at the request of the FDA. A request by the FDA that a firm recall a product is reserved for urgent situations and is directed to the firm that has primary responsibility for the manufacture and marketing of the product that is to be recalled.

vs.

Mandatory Device Recalls - 21 CFR 810
Medical device recalls are usually conducted voluntarily by the manufacturer under 21 CFR 7. In rare instances, where the manufacturer or importer fails to voluntarily recall a device that is a risk to health, FDA may issue a recall order to the manufacturer under 21 CFR 810, Medical Device Recall Authority. 21 CFR 810 describes the procedures the FDA will follow in exercising its medical device recall authority under section 518(e) of the Federal Food, Drug, and Cosmetic Act (Act).

If, after providing the appropriate person with an opportunity to consult with the agency, FDA finds that there is a reasonable probability that a device intended for human use would cause serious, adverse health consequences or death, the FDA may issue a cease distribution and notification order requiring the person named in the order to immediately:

• cease distribution of the device;
• notify health professionals and device user facilities of the order; and
• instruct these professionals and device user facilities to cease use of the device.

The person named in the order will have an opportunity for a regulatory hearing or to provide a written request to FDA asking that the order be modified, vacated, or amended. FDA may later amend the order to require a recall of the device.

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[solarz]

vs.

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Okay, what is your point then?

 

[Jura The idiot]

now I read
Chinese yuan weakens in July
Xinhua| 2018-08-04 14:52:29

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China's yuan weakened more than 3 percent against a basket of currencies in July, according to a China Foreign Exchange Trade System (CFETS) index.

The CFETS RMB Index, which measures the yuan's strength relative to a basket of currencies, came in at 92.41 at the end of July, a 3.4 percent decline from a month ago, CFETS said.

The index compares the yuan to the value of 24 currencies, including the U.S. dollar, euro and Japanese yen, which was expanded from a basket of 13 currencies in 2016.

In July, an index that measures the yuan against the Bank for International Settlements currency basket went down 3.36 percent to 95.67, while against the Special Drawing Rights basket it weakened 3.33 percent to 92.7, according to CFETS.

China's central bank announced Friday that it would raise the reserve requirement ratio from zero to 20 percent for financial institutions trading foreign exchange forward contracts from Monday.

As part of the macro-prudential policy framework, the move is a response to recent pro-cyclical fluctuations in the forex market and aims to forestall macro-financial risk, the People's Bank of China said.

The central bank said it would "enhance monitoring and make counter-cyclical adjustments in accordance with the development of the situation to keep the forex market steady and the yuan's exchange rate basically stable at a reasonable and balanced level."

 

[Jura The idiot]

now noticed the tweet

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An undersea pipeline to supply water to Taiwan's Kinmen Island from Longhu Lake in Fujian Province begins operations today; the 28-km pipeline is able to provide 34,000 cubic meters of water daily

 

[antiterror13]

Why would China do that? .. China is rich enough to not selling water which is badly needed in China

btw, how much China charge Taiwan daily for 34,000 m3 or about 400L per second ?

 

[manqiangrexue]

Why would China do that? .. China is rich enough to not selling water which is badly needed in China

btw, how much China charge Taiwan daily for 34,000 m3 or about 400L per second ?

We do it for family just like every other Chinese province that needs it!

 

[azesus]

del

 

[advill]

Examining the Political, Economic, Social-Cultural, Technological & Security (PESTS) Analyses which I often emphasised in my Int'l Biz Courses to University students (including Guangzhou & Macau Universities) as an Adjunct (& Visiting) lecturer, ECONOMIC & Security have become the current focus requiring urgent attention. If we trace history, Economic issues could lead to Security problems of countries (i.e. hostilities & War). Several international and regional friends/colleagues and I are very concerned that Economic issues (particularly Trade Wars) could spin out of control, especially with pompous and gung-ho leadership who is unpredictable (a trait that brings about gross mistrust). Whatever we may read in the media, the Asian Region will find ways to stand on its own. Knowing China, the country will survive Economically, as its history thru' the ages of turbulence have shown resilience. The Chinese believe and I fully agree in the saying "With Crisis there is Opportunity".

 

[Jura The idiot]

now I read
China instructs banks, insurers to up financing support for real economy
2018-08-11 19:48 GMT+8

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The China Banking and Insurance Regulatory Commission said Saturday that it has encouraged banks and insurance companies to increase funding to meet the financing demands of the real economy.

Preliminary data showed that newly made yuan loans in July stood at 1.45 trillion yuan (212 billion US dollars), up 623.7 billion yuan from the same period last year, the commission said in a statement on its website.

"[The commission] instructed banking and insurance institutions to have an accurate understanding of the relations between promoting economic growth and containing risks," the statement said.

It also urged the institutions to make full use of current favorable conditions including abundant liquidity and declining financing costs to raise their financing support for the real economy.