YOUNG’S CHINA BUSINESS BLOG
I’ve been trying to avoid writing about the latest punitive tariffs for Chinese solar panels that look set to come from the European Union this week, since the story has dragged on for more than a year now and the outcome was almost inevitable. But that said, it would be a bit remiss of me not to write at least something on this latest move, which is expected to see European Trade Commissioner Karel De Gucht formally recommend the introduction of anti-dumping tariffs for solar panels supplied from China.
Last month’s New York IPO filing by online retailer LightInTheBox has many predicting a new stream of Chinese listings could soon hit the market, prompting many to guess who might be next. One of the leading candidates for a near-term New York offering was Cloudary, the literature unit of online entertainment firm Shanda, though that prospect is dimming with each passing day due to recent turmoil at the company.
As if its problems weren’t bad enough in China, global fast food giant Yum (NYSE: YUM) is getting a new round of indigestion in its most profitable market from a new food safety scandal that gets my personal award for “grossest” scandal of the year. China followers will know I’m talking about the latest revelations that some unscrupulous food processors illegally treated meat from dead foxes and minks to look like mutton, and then sold the product to unsuspecting restaurants.