Weekend in China

The monetary chief in Hong Kong, Joseph Yam, argued against any changes in the HK currency's peg to the U.S. dollar as a means of calming inflation.

"With the U.S. economic slowdown and its credit crisis unresolved, Hong Kong and the Chinese mainland's economy will be affected and the public should be psychologically prepared, he added."

(Xinhua/China View)

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Despite rice shortages in many countries, the supply in China is not at risk, according to various government officials. This is due to the reliance on domestic supply instead of imports for the bulk of their needs. The government has curbed exports and increased subsidies to maintain price stability.
(China Daily)

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Roland Soong over at EastSouthWestNorth gives us the "Red Army" on the march. Americans be afraid. Very afraid. Capitalism run amok?

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New Zealand and China, friends with new free trade benefits:

"The China-New Zealand free trade agreement, to be singed in Beijing on Monday, will boost bilateral complementary and mutually beneficial trade ties, and enrich the content of "China-New Zealand comprehensive cooperative relations for mutual benefits and win-win situation in the 21st century."

(Xinhua/China View)

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The United Arab Emirates seeking new business opportunities with the East, roadtrips to China:

"The Chinese government invited Sheikh Mohammed Bin Rashid Al Maktoum on an official visit to the country. The ruler responded by arriving with an entourage of 50 business leaders and throngs of government support -- an obvious symbol of the importance the U.A.E. has put on growing relations with China. "

The president of China, Hu Jintao, and the premier, Wen Jiabao, welcomed members of the visiting group.

Said Sultan Ahmed Bin Sulayem, Chairman of Dubai World, one of the Dubai government's investment arms:

"We are concentrating in China, concentrating in Africa, because these are places where they're hungry for capital and there is growth potential," he said, "The officials in the East are encouraging while the officials in the West are creating noises unnecessarily. So, naturally, people will look at more investment in the East..."

(CNN)

And in a related story from the Kippreport, the United Kingdom roadtrips to the United Arab Emirates right after the U.A.E. trip to China. The geographic direction of these road trips is most notable.

As Prince Andrew comes to town, Sheikh Mohammed, Ruler of Dubai, comes to the end of this four-day trade trip to China. The two trips highlight the importance of jet-setting, high-level delegations to beefing up trade relations...