The world is full of scandals. Here are the 10 top scandals in China's economic community this year, including a prestigious CEO who was accused of faking his career credentials, a dairy tycoon's tricks and products from famous brands found to be faulty or even dangerous to consumers' health.
Apple Inc's iPhone 4 and iPad has triggered sakes, and boosted the company's revenue and stock prices. Many fancy products were launched this year, some of them at correspondingly fancy prices.
The Fed announced on Nov 3 a second round of monetary stimulus, dubbed QE2, in its latest move to jump start the sluggish recovery of the US economy. It will buy long-term Treasurys worth $600 billion in the coming eight months, and reinvest $250 billion to $300 billion more in Treasurys with the proceeds of its earlier investments, the US central bank said.
China has become the target of criticism because it is currently the world's biggest producer of rare earth metals. As mining the metals is very damaging to the environment, countries like US have long halted tapping this material and turned to China for supply of the metals.
Chinese Internet conglomerate Tencent is now in a dispute with Qihoo 360, an antivirus software company. The war started in late September when Qihoo 360 alleged Tencent's QQ, China's most popular instant messaging service, was leaking users' private data and offered a new service on 360 Safe to prevent privacy leaks. Tencent has since accused Qihoo 360 of slander and business foul play.
Forbes Asia magazine published its annual list of China's 400 richest (calculated in US dollars) on Thursday. Topping the list is 65-year-old Zong Qinghou, chairman of the leading food and beverage company Wahaha Group.
Mengniu Dairy Co, China's largest dairy company by market value, allegedly plotted online attacks with the assistance of a public relations company against its competitors, the Yili Group and Synutra International.
China's GDP grew 10.6 percent year-on-year in the first nine months of this year to 26.87 trillion yuan ($4.04 trillion).
The 2010 Shanghai World Expo is not only an occasion for celebration and cross-border culture exchanges, but also a good opportunity to boost economic development around the world.
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