Article Abstract:
The average ratio of boys to girls is similar to the world average for first births in China, but there are significantly more boys with second births. This has led to a worsening imbalance in the sex ratio since 1982. Young men will have problems finding wives, a problem that will be particularly acute in China, but which will also affect South Korea and Taiwan. Girls move away from the family home and are seen as a lost investment. Infant mortality rates are higher for girls in China. Infanticide still occurs. Girls may be given away for adoption. Sex-selective abortion may be carried out, and increased abortion may be linked to a drop in mortality rates for girls. Girls may be forced into marriage. Urban areas and rural areas with pension provision show less of a preference for boys.
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Article Abstract:
Guangdong International Trust and Investment Corp's (GITIC's) collapse has spurred foreign banks to cut back on their lending in China. In Oct 1998, GITIC was closed by Beijing because of the institution's debts totalling $4.3 bil. It was announced in Jan 1999 that GITIC would apply for bankruptcy and creditors could claim what they are owed by going through the legal system in the country. Foreign banks learned that loans registered with the State Administration of Foreign Exchange would not be repaid by Beijing.
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Article Abstract:
China may be prompted to devalue the renminbi in the face of continuing deflation problem in the country. For the past two years, the Asian country has struggled to veer from currency devaluation, but that may have to change as retail prices consistently drop for 21 consecutive months. China has also failed to meet earlier economic growth expectations, although it managed to post a 7.6% growth rate in the first six months of 1999.
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