Soft drink baron of China has topped the list of richest people in China released by country’s Forbes equivalent, Hurun rich list.Zong Qinghou is now the wealthiest man in China having a personal fortune of $12bn among the 1363 yuan billionaires of the country.
Fears of currency war deepens as U.S. prepares to take on China over latter’s so called unfair currency exchange policy.
U.S. House of Representatives finally passed the bill Wednesday which allows U.S Commerce Department to impose duties on the goods from countries having undervalued currency.
Not only U.S. alone but most of the Europe is also passing through the aftershocks of recession forcing government to take some tough decision at economy level making people and workers unhappy though.
President Obama achieved a needed political victory getting the small business aid bill of $42 billion been passed by Senate on Monday.
U.S. people still don’t believe that recession is over though announcement has been made by economists that recession was already over last year.
A film ‘The Social Network” to be released next week may have to deal with the controversy over its portrait of young founder of world’s most popular social networking site Facebook, Mark Zuckerberg.
The film portraits a character said to be based on Zuckerberg stealing the idea to start a social networking site in college campus to be in touch with the friends.
U.S. has continued to increase pressure on China on the current issue of China’s uneven exchange policy in a meeting between heads of two countries.
President Obama met Chinese Premier Wen Jiabao in New York in the side lines of U.N. General assembly meeting which was addressed by Obama on Wednesday.Obama talked with Jiabao regarding concerns of U.S trade community for current exchange policy changes by China and requested him to solve the issue with more speedy reforms.
Bill Gates has again topped the list of richest men in America release by Forbes on Wednesday. Founder of world’s largest software making company Microsoft ,Bill gates had stood at no.1 spot last year also with fortunes worth $ 50billion.This year he has become more wealthier with his fortune reaching $54 billion ,that means he earned $4 billion in the year of 2010.
Great recession came to an end in June 2009 according to a report by an highly credible independent body of economists in U.S. Report will give great relief to those who fear second wave of recession in U.S. if economy didn’t get stable now.
Though U.S. is hitting hard to China for recent issue regarding currency exchange policy of China at country level, states particularly from southern part of U.S. hoping high from China to boost their state wise economies.