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State of the Industry

- Caterpillar forced to rethink its China
- John Deere ramps up operations starting
at the beginning
- BorgWarner leading parts makers in
Eastern expansion

Exclusive Interviews

Tom Tan

President, BorgWarner China

Tom Tan has been with BorgWarner nearly 20 years, joining in 1995 as a member of the TorqTransfer Systems financial department. Tan has since held the positions of Controller and Manager in TTS, Beijing Warner Gear, and TTS Asia. He led in TTS Beijing as General Manager from 2003 until 2008, when he was promoted to Managing Director, China.

Breaking News

Kyrgyz MPs Give Govt Up to 4 Months for Kumtor Mine Deal with Centerra
February 6, 2014
The Kyrgyzstan parliament has given the government four months to complete a deal with Canadian miner Centerra Gold to form a 50/50 joint venture in order to exploit long controversial gold deposits in the Tien Shan Mountains near the country’s border with China.

Manitowoc Cranes Reorganizes
January 31, 2014
The crane manufacturer has announced that in order to increase efficiency and direct focus on global product sales, management across much of the company’s top leadership has been moved to new positions of had a redefining of responsibilities.

Komatsu & GE in Mining Equipment JV
January 30, 2014
In April, Komatsu FE Mining Systems LLC will be opening in Erie, Pennsylvania, combining strengths of the two manufacturing giants to produce “next-generation mining equipment.”

Fired Up: John Deere Completes $150 Million Modernization of Foundry
January 30, 2014
After years of work, John Deere has opened its new Waterloo, Iowa foundry, casting parts to fit its large tractors and other equipment.

Manitowoc Sells Interest in Chinese JV
January 24, 2014
After a difficult year of business working in the Chinese market including questions of IP rights and lawsuits, the Wisconsin-based manufacturer is selling its stake in a Chinese joint venture.

How Caterpillar Got Bulldozed
January 23, 2014
Despite the status of being the world’s top producer of earth-moving equipment and one of the longest established US firms operating in China, Caterpillar was seemingly blindsided by the collapse of one of its Chinese joint ventures.

Recent Figures

USCC Report Spotlights China’s Real Estate Boom and Bubble Risk

In the U.S.-China Economic and Security Review Commission’s recent monthly review, the commission devoted a section of the report on looking over the state of China’s real estate industry. Urban development has continued in China beyond the expectations of some pessimistic economists and observers, but trends have left doubts among many regarding sustainability.

“Moreover, unlike the United States, where households take out large mortgages at low interest to buy their homes, households in China are less heavily leveraged, and are subject to higher mortgage rates and tougher down-payment requirements. Demand for residential property is particularly robust in wealthy tier-1 cities Beijing and Shanghai, suggesting that the building boom there is unlikely to outstrip demand.

However, other factors suggest that real estate is far from stable. According to economist Nouriel Roubini, China is clearly overbuilding. Fundamental demand for urban housing has already begun to decline, as fewer people will become urban residents over the coming decade than over the past decade. Construction of new housing has outpaced demand by 60 million units since 2006. Further, China’s share of global construction, in terms of the number of buildings and amount of cement and steel used, dwarfs its share of housing demand. The share of China’s GDP invested in real estate, in turn, is comparable to Spain in the lead-up to that country’s property crash in 2008.”

If you have any questions or comments, please contact Editor Jonathan Stefonek at +86 21 5580 0330 x. 8109 or jonathan.stefonek@duxes.cn.

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