Mr John Tsang Chun-wah ︰ if the United States from falling from a financial cliff "will be difficult to immune

Hong Kong Financial Secretary John Tsang said recently that if the United States is falling from fiscal cliff "recession in the U.S. economy, Hong Kong will not be an exception, the economy is also likely to be recession; but for the public to worry about the third round of U.S. quantitative easing measures to Order a lot of hot money inflows push up inflation and property prices in Hong Kong, he is cautiously optimistic.

John C Tsang, in his personal blog author said, if the United States is falling from fiscal cliff ", so that the recession in the U.S., which will bring the global economy a heavy blow, the European recovery will be more distant mainland economic risk of a hard landing will increase; Hong Kong as a small export-oriented economies will face major trading partners lose growth momentum, even recession, Hong Kong also not been spared. Hong Kong's economy is likely to be a recession, asset prices may fluctuate, corporate bankruptcies and rising unemployment? Living of the people will be greatly affected. On the other hand, Mr Tsang said that many people worry about re-election of U.S. President Barack Obama, Federal Reserve Chairman Ben Bernanke planned to implement QE3, so that the devaluation of the Hong Kong dollar pegged to the dollar, a lot of hot money inflows, pushing up inflation and Floor price impact? livelihood.

Mr Tsang said that the property market this attitude more cautiously optimistic, because in the end of October, the Government introduced two measures to manage demand for residential buildings, including raising the special rate of stamp duty and extend the applicable period, as well as to non-permanent residents and corporate buyers open levy a 15% buyer stamp duty, the hot money inflow significant increase in the costs and risks of the residential property market.

Greece an extra two years to reach the budget target

Greece's international lenders agreed on Monday to allow the Greek fiscal surplus as a percentage of GDP 4.5% in 2014 to reach the target, delayed for two years to 2016. According to the files of the euro zone finance ministers' meeting, the two-year delay standards will need 32.6 billion euros of additional capital.

However, the debt to GDP ratio, Eurogroup Chairman Juncker said to allow Greece will be reduced to 120% of the target deadline extended by two years to 2022, but the International Monetary Fund (IMF) President Christine Lagarde said, IMF adhere to the 2020 deadline. Juncker said the euro group meeting will be held on the 20th of this month, will be further discussions in this regard.

New York crude oil fell 4.8 percent to $ 84.44

New York crude oil (85.15, -0.42, -0.49%) futures prices closed Wednesday fell sharply, mainly due to rise in the dollar exchange rate, and the United States government report showed U.S. crude inventories rose more than expected last week, so as to suppress oil prices fell below $ 85 a barrel.

The same day, the New York Mercantile Exchange (NYMEX) price of light sweet crude for February delivery fell $ 4.27, to close at $ 84.44 a barrel, down 4.8%, to erase the gains of the previous trading day. Financial information provider FactSet statistics data, which means that New York oil prices hit the lowest closing price since July 10. Tuesday's closing, the December contract rose sharply to 3.6%.

London's ICE Futures Europe exchange price of North Sea Brent crude oil futures for December delivery fell $ 4.25 to close at $ 106.82 a barrel, down 3.83%; erase the gains of the previous two trading days. In terms of the closing price, the difference between the North Sea Brent crude oil futures in New York light sweet crude to $ 22.38 a barrel, the spread in the October 14 last year hit $ 27.88 a barrel, the highest level.

U.S. stocks sharply lower, the dollar also rose, leading to the pressure of the crude oil futures market, "financial cliff" as investors started to feel worried. After the re-election, Obama will have cooperation with a divided Congress, the Republicans continue to control the House of Representatives, while the Democrats retained control of the Senate.

The term "financial cliff" January 1, 2013 by Federal Reserve Chairman Ben - Bernanke (Ben Bernanke) originally used to describe this time node. At this date, the Bush Administration tax concessions relief policies Obama administration's 2% payroll tax relief and unemployment compensation measures to extend the policy will expire at the same time, this will lead to the sudden decrease in government expenditure, thus spending curve looks like a cliff, so named after the "fiscal cliff.

The U.S. Department of Energy's Energy Information Administration (EIA) for the week ended November 2 crude oil and petroleum products inventory report released today. The report showed that the crude oil inventories increased by 1.8 million barrels, an increase than analysts had expected. Energy information and consulting firm Platts survey, analysts on average expected U.S. crude oil inventories increased by 100 million barrels last week. The report also showed that gasoline inventories increased by 2.9 million barrels last week, analysts expected a decrease of 100 million barrels; distillates (including diesel and heating oil) inventories increased by 100,000 barrels, the analyst is expected to be reduced by 200 million barrels.

In other energy trading at the New York Mercantile Exchange, the price of RBOB gasoline futures for December delivery fell 10 cents to close at $ 2.60 per gallon, down 3.74%; heating oil futures prices for December delivery fell 9 cents , to close at $ 2.96 per gallon, down 2.94%; natural gas futures prices for December delivery fell 5 cents to close at $ 3.57 per million British thermal units, a decrease of 1.30%.

The Energy Information Administration on Thursday released natural gas inventory report for the week ended November 2. Platts survey, analysts on average expected natural gas inventories increased by 26 billion cubic feet to 30 billion cubic feet last week.

Samsung raised the price of Apple iPhone chip

Reporter was informed that the 11th Samsung Electronics has suddenly raised the wholesale price of the iPhone and iPad application processor, and an increase of nearly 20%. Samsung Electronics is substantially increased their old customers - Apple applications processor supplier prices, this is the first time. The industry believes that the two companies have been started in the worldwide patent wars, this price will exacerbate the conflict existing between.

A very understanding of the negotiation process of the two companies of electronic industry executives who on the 11th, said: "Recently Samsung to Apple prices require Apple is unwilling to accept, but can not find an alternative source of supply, eventually accepted prices requirements. "the source said, the recent trading of the two companies are beginning to reflect the new prices rose nearly 20%.

Samsung Apple two companies used to focus on supply problems occur in a contradiction. Before the prices with different memory chips and displays, in addition to Samsung Electronics, Apple is nowhere to buy this product, therefore prices are likely to make the relationship between the two companies has become more tense. Currently, in the world capable of producing Apple requires application processor, only a Samsung Electronics.

Apple for the iPhone and iPad application processor All procurement to Samsung Electronics, the number of last year to more than 130 million, and this year is expected to be more than 200 million. It is reported that Samsung Electronics and Apple signed a long-term supply contract ending in 2014, although the two sides will hold regular price negotiations, but has no special price factors, the price will essentially unchanged.

The industry believes that, the Samsung Electronics raise the wholesale price of the application processor, in addition to the factors and the Apple lawsuit, Apple is trying to reduce the number of application processor is one of the reasons to buy from Samsung at.

Germany, and Britain called for raising the corporate tax efficiency

According to reports, German Finance Minister Theo Schaeuble and British Chancellor of the Exchequer Osborne jointly called on countries in the world should be "enough to correct the error behavior of multinational corporations 'erosion of the tax base and the transfer of profits' leadership in worldwide build, improve corporate tax efficiency. "

Common unified corporate tax base "(CCCTB) mechanism set by the EU, countries should multinational profits taxable part of the consensus, and this part of the unified tax profits, rather than solely on the basis of the multinational respective reporting that a portion of the profits tax.

Analysts said that some developed countries with economies in both with preferential policies to attract multinational companies in the country reside, while multinational corporations pay the corresponding taxes. However, many multinational enterprises, especially those engaged in catering and other intangible assets are legitimate uses of "transfer pricing" means the corporate effective tax rate is much lower than the statutory tax rate. OECD (OECD) are stepping up revised guidelines to deal with transfer pricing rules.

Wall Schaeuble and Osborne, intangible assets in the proportion of economic activity and trade is growing, small adjustments to transfer pricing rules, and can not effectively prevent some multinational companies to evade responsibility for the acts of the corporate tax, even could lead to the government will not have enough capacity to SMEs as a major transfer of profits among tax jurisdictions taxed. Analysts said that to prevent enterprises to use "to avoid double taxation principle of" double tax avoidance, tax should consider the introduction of more stringent regulatory measures for multinational corporations.

New York Huang Jinping closed at $ 1,730.90

Beijing early morning of November 13, the New York gold (1724.10, -6.80, -0.39%) futures closed Monday does not appear to change was mainly due to India's strong demand and market fears the Japanese economy to form a support for the gold market, but with the United States "financial cliff" uncertainty related to the European debt crisis led to market pressure.

The day, the 12-month contract by the New York Mercantile Exchange (NYMEX) under the Commodity Exchange (COMEX) gold futures prices closed at $ 1,730.90 an ounce, there was no change compared to last Friday's closing price. In last week's trading, the New York gold futures prices rose more than 3%.

The senior investment the website TrueContrarian.com the Editing Steven - Kaplan (Steven Kaplan) pointed out that If the (U.S.) 'financial cliff' the problem is resolved, then the U.S. federal government deficit will continue to remain at a high level, but may strong rise in gold futures prices. However, the Republicans are unlikely to agree to a substantial increase in tax revenue, it is expected that the gold futures market will continue to face downward pressure. "

Gisborne Potter, managing partner of Silver Arrow Capital Management, the asset management company - Green Nevis root (Gijsbert Groenewegen) pointed out that the gold market is subject to the euro zone sovereign debt crisis, "financial cliff" and "quantitative easing" policy. He also pointed out that, from a fundamental point of view, gold futures prices need to break through the resistance level of $ 1740 per ounce, then the impact resistance of 1790 U.S. dollars an ounce.

The term "financial cliff" January 1, 2013 by Federal Reserve Chairman Ben - Bernanke (Ben Bernanke) originally used to describe this time node. At this date, the Bush Administration tax concessions relief policies Obama administration's 2% payroll tax relief and unemployment compensation measures to extend the policy will expire at the same time, this will lead to the sudden decrease in government expenditure, thus spending curve looks like a cliff, so named after the "fiscal cliff.

The so-called "quantitative easing" (Quantitative Easing QE), a concept first proposed by Japan, in the context of the economic malaise, the sharp contraction in bank credit, the Bank of Japan on the zero interest rate from the beginning of March 2001 (between banks further deepening of the night lending rate) policy, mainly refers to the Central Bank in the implementation of the zero interest rate or near-zero interest rate policy, through the purchase of bonds and other long-term bonds, to increase the supply of base money injection of liquidity to market intervention to to encourage spending and borrowing, and also simplified described as indirectly by printing money.

Bloomberg: Europe agreed to grace Greece two years to reach the deficit and debt targets

European governments agreed to grace Greece two years to complete the deficit target, and will seek to fill the resulting financing gap, in order to ensure that Greece still remain to prevent further deterioration of the debt crisis in the euro zone. Monday of euro zone finance ministers' meeting agreed to grace Greece in 2016 to reduce the deficit target of 2% of GNP, but the countries in the next week to decide how to fill a funding gap of up to 32.6 billion euros resulting. This is three years after the outbreak of the debt crisis in Greece, Europe once again make a compromise, led by Germany, the creditors agreed to continue to inject liquidity to Greece and not allow a Greek default to lead Greece out of the euro zone to cause the situation to further confusion. Eurogroup Chairman Juncker told reporters that extend the last date to Greece's deficit reduction "would be an appropriate adjustment to further fiscal consolidation in the future". He said the parties are currently looking for "the right approach" to cover the deficit, but which does not include the official sector holdings of Greek debt written down. However, the euro zone finance ministers' meeting did not discuss how to increase member states funded affordable conditions, increase financial support for Greece, Greece's main creditors Germany will hold a general election in 2013 will become a source of relief funds in Greece troubled by the problem of Chancellor Angela Merkel.

The scapegoat, Entwistle: BBC

Negative news on the BBC continue to simmer, Saville only wolf dressed in sheep BBC plunged into the most serious crisis of confidence, then who is going to foot the bill for these embarrassments, president Entwistle became the scapegoat, also became a BBC short-lived president, the trouble is far from over, will set off a vigorous reform, otherwise the BBC would never be able to regain credibility.

Negative news on the BBC continue to simmer, Saville only wolf dressed in sheep BBC plunged into the most serious crisis of confidence, then who is going to foot the bill for these embarrassments, president Entwistle became the scapegoat, also became the BBC's short-lived president, the trouble is far from over, the day of the "rebirth" where?

George Entwistle, president of the British Broadcasting Corporation (BBC), announced his resignation, which are the direct and indirect causes NEWS serious misrepresentation and Savile sex scandal, the BBC's credibility was unprecedented questioning Entwistle said it must be held responsible, will be a lot of people follow suit. Entwistle's resignation, the BBC Chairman of the Board of Chris Patten decided its superannuation paid 1.32 million pounds, but denounced the move not only exposed the preservation of their own facial motive, will make Entwistle late section can not be maintained. Patten to resign at this cusp is not excessive.

The a Men claimed today, a senior politician of the Conservative Party in the 1980s had a children's welfare home in Wales against him of sexual assault in the BBC's "Newsnight" program November 2, even though he is in the program not name names, but a lot of people have speculated this politician is original on MPs Lord McAlpine. The innocent in strokes McAlpine immediately issued a solemn statement, deny that they have any connection with this case and. November 9, victims come forward to admit that the wrong people age, their own confirmation. Public opinion again outcry, the BBC was accused of irresponsible society "insult to injury" that its contrition lack of sincerity ". On October 29, the late British famous TV show host Jimmy Saville sexual abuse of minors and the mentally ill "scandal" in British society, a series of exploding Police said the victims up to 300 people, the events continue to simmer , "star accomplice, events expose British celebrity worship dark side" the BBC therefore fall into the most serious crisis of confidence, credibility and values ​​advertised by the Western media is also doubtful.

 Entwistle, 50 years old, took office he took office from September 17, to resign due to the BBC News scandal on the evening of November 10, 54 days of BBC president allows him to become one of the BBC the most "famous" the president Recently, he was so busy Saville sex scandal looked to apologize on behalf of the BBC, the president once made him proud, but now "achievements" of his tragic fate.

BBC plunged into a serious crisis of confidence due to host the sexual abuse scandal exposed an alarming spate of heavyweight media and celebrity scandals, not only shocked British society, people flaunt the credibility of the Western media and values ​​are bound to generate new views. The BBC is not a cold day, after the end of the internal self-examination, I'm afraid I have to have at least six executives step Entwistle followed the BBC the trouble is far from over, the leadership of the only all won the BBC covered with stains layer, perhaps in order to contribute to the "rebirth" of the BBC.

The BBC real problem in the management system, the company had approximately 20,000 employees, such a large team, it is not easy to do proper oversight. Since the 1980s, the BBC appeared excessive management, layer after layer of management, and ultimately lead to the high positions of the BBC president, do not understand the internal day-to-day workflow, so nothing happening below know, and this is where the real problem. Reform is imperative, otherwise it will never be able to regain credibility.

The WWII pilot son of Nanjing seeking Rather Than benefactor rescue nuns Rengshi Mi

According to the Modern Express reported slender braids, exaggerated facial expressions, a full word "dragon" costume ... when the 65-year-old American teacher DavidYao standing on the podium of Nanjing Normal College of Foreign Languages, students who shines. The students even more surprising is that David and his father and Nanjing Normal University have a deep sense of love. David recalls do teachers Nanjing Normal University, he learned from his father during World War II, as the father of the U.S. Air Force pilot was forced to land in Nanjing, after being resettled in Jinling Women's University, (formerly Nanjing Normal University), he would very much like behalf of his father to find a rescuer at the time.

The forced landing Nanjing 1944

To help his father find the savior of the World War II period, the 10th, Nanjing Normal University teacher David to his father again to verify when the experience of Nanjing forced to land after being rescued.

David sent mail about "forced landing event time has confirmed, in 1944, my father and I sincerely thank those who he rescued from the hands of the Japanese in Nanjing in 1944 the nuns."

In 1944, the U.S. B29 fighter officially began the war against Japan. David's father, Gary Klatt Lieutenant is responsible for carrying the driver of the 462 bomb group. They Piaradoba from India took off, flying over the Himalayas, to provide supplies to the Chinese army in Chengdu and loading fuel bombing.

A total of four aircraft for the bombing of Japan, the task of transporting fuel. "My father is the first batch of the bombing of the the B29 members of one of Japan once, After bombing missions in the return process, an engine of the aircraft was hit by Japanese anti-aircraft guns, his father and his comrades made a forced landing in Nanjing."

David said, they found an empty place and successful forced landing Nanjing (then the Japanese occupation). Magic, a group of nuns, and help they hide the aircraft, providing food, transfer damaged engine, to provide all the help they can provide. After 10-12 hours, the aircraft took off again and successfully flew back to Chengdu, perform more tasks bombing of Japan. "

In the mail, David said, today, he and his father have been thinking about how to return the help they provide year.

"He and I are still very much want to know where these nuns from, why they would appear in Nanjing."

In David's opinion, may be destined, 2005, in case he did not know all the story, came to Nanjing.

David said, "My father and I have China as well as the friendly people with a deep love and I want to thank those nuns and their descendants, they saved my father! (Otherwise I would not have to appear in this world on!) "

Rescue nuns and forced landing location Rengshi Mi

According to David's narrative, his father was in an open place, was rescued by a group of nuns.

December 7, 1941, after the outbreak of the war in the Pacific, Nanjing has been the Japanese occupation, the the Wang puppet government of Nanjing, will nuns? If there is, they will take shelter where? Lian-red analysis, Nanjing Normal University professor of history, Japan was also a Christian, habit of every weekend and even during the Nanjing Massacre, the church is also there to worship, the church is not there is because of the Japanese invasion. In addition to churches, temples were retained. As for the Nanjing where a nun? Piece of an emergency landing of ground war era? There is no way of knowing.

By Shenghong, a history professor at Nanjing Normal University, said that after the outbreak of the Pacific War, the missionaries all get rid of the churches are closed. Two Christian universities run by the Americans were also forced to change the flag changing of the guard, the Japanese occupation of Jinling Women's University, became the headquarters do not know where there are nuns sanctuary.

The Jiangpu near the U.S. pilots had crash

The retirement of Nanjing Agricultural University Professor Wang Kunjie introduced 1942 years ago, he had an American pilot saw the crash in the countryside near Nanjing Jiangpu.

Born in 1931, Wang Kunjie born in Anhui and the County Churk miaozhen,. "Around 1942, when the town near Japanese one day, U.S. planes dropped on an abandoned fields where two or three miles away from the town suddenly, I flew to run in the past, to the front of the engine also smashed a pit smoking, aircraft on the ground. "Wang Kunjie later listen to the town said, the people on the plane and later come up with a silk cloth to look to the illiterate farmers a variety of text on a piece of silk, Some people say that there are nine kinds of text, some say there are 12 kinds of text, we later learned, he is American pilots. "Then Jiangpu middle school English teacher, surnamed Zhou, it seems is the the Jiangpu new Austin people, no one knows English town, put him hired. '

Etc. the Wang Kunjie once again rushed to the crash site, Chou working with pilots standing on the edge of the pit to speak. "The pilot was wearing a green uniform, was not injured, it seems not very old, but the plane burned very badly, almost on the left engine."

Ishihara catch the general election last train to build new party, Ichiro Ozawa, or a strong return

Taking into account the possibility of the dissolution of the House of Representatives during the year increased to accelerate founding pace in order to catch up with the next general election, the former Tokyo Governor Shintaro Ishihara, announced to form a new party on the 13th. In addition, the Tokyo High Court made a second trial on the former Secretary General of the Democratic Party, National Life First Party, Ichiro Ozawa, the political capital case sentencing Ozawa innocence.

The Ishihara Jianxin Party Cou congressional elections "lively"

Japanese media reported on the 12th, Shintaro Ishihara and rise up Japan Party agreed announced the formation of a new party on the 13th, and then rose in Japan, the party would be disbanded and their respective five members of Congress will join the new party, Ishihara. Rise up Japan's party a party cadre also revealed that Rep. Nakatsu Chuanbo Township left the Democratic Party in July this year will also join the new party.

After the formation of a new party, Ishihara New Party will be held on the 15th, the third pole of political parties (the ruling Democratic Party and the Liberal Democratic Party, the largest opposition party) grand coalition "with the Japanese Restoration will consult. Japan Restoration by young politicians, the high popularity Osaka Mayor Toru Hashimoto was founded in September 2012, it also has a policy conservative color.

Ishihara, aged 80 years, to four consecutive elected governor of Tokyo since 1999, was originally the senior members of the LDP conservatives. January 25, Ishihara, announced his resignation, quit the Liberal Democratic Party, and said that a formation of a new party rose in Japan and both belong to the conservative party's first Takeo Hiranuma et al. In order to enhance its strength and Ishihara school also actively promote cooperation with Japan Restoration Council, trying to be formed by joining forces with the trend of the Liberal Democratic Party and the Democratic Party to compete.

Ozawa was acquitted due to lack of new evidence

12, 2009, the Tokyo High Court said in the verdict, designated to fulfill the duties of the prosecution lawyers on Ozawa's political funds case of insufficient evidence, the non-adoption. The Court will therefore maintain the Tokyo District Court of first instance verdict, sentencing Ozawa innocence.

In July of this year, Ozawa led 50 members of Congress in the ruling Democratic Party left the party and established the first party of the national life, causing a huge blow to the forces of the Democratic Party and the Noda government. Analysts said Ozawa, the second trial was acquitted, basically able to erase a blot of his political career, the Ozawa faction will be a strong return to the political arena, which will give the forthcoming elections to the House of Representatives and the whole of Japanese politics uncertain.