China's Debt Rises Sharply
China's first half year external debt rose by USD4.8 billion to reach USD327.8 billion at the end of June 2007, according to the State Administration of Foreign Exchange. During the first half of 2007, China borrowed mid- and long-term foreign debts of USD15.37 billion, an increase of 55.6 per cent over the same 2006 period. Meanwhile, China paid off USD11 billion of debt and USD1.74 billion of interest, up 31.76 per cent and 55.64 per cent compared with the corresponding 2006 period.
Money Makes Happy
State media report that a recent survey found that Chinese people are
happier this year than last year. Money toped the list when people were
asked what makes them happiest. The survey, conducted by the Xiaokang
Magazine, revealed that farmers are happier because the government
abolished the agricultural tax. It was also found that people in cities
have "to face the fast CPI growth and their relatively slow income rise
and are therefore not so happy", as China Daily puts it.
A similar study in the US found that money is not an important factor
for being happy. Friends, family, God, pets and listening to music is
more important for Americans than money.
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China's Debt Rises Sharply
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