Blogs » Society » Media Markt Closing (For Real this Time)

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• Media Markt Closing (For Real this Time)
• Victims of Egypt hot air balloon crash left without compensation
• Use of 'gutter' oil lands restaurant owners in jail
• Watch: Bringing basketball to North Korea (before Dennis Rodman)
• This Week in Shanghai Sports
• Weekendist: Mar 1-3, Butch Bradley, Trippple Nippple, and more!
• Product Testing Labs In China
• Qian Qiu Xiao Guan: A Taste of Taipei
• Infographic: The numbers behind the Great Firewall of China
• The Glory of Imperial Russia
• China Shutters 225 Websites And More Than 30,000 Microblogs For “Obscene Content,” But Not PornHub
• Ai Weiwei Is Bored: Here He Is In His Beijing Studio (Pictures By Jamie Hawkesworth)
• Teenager Poops In Guangzhou Subway Trash Receptacle
• Why Yes, In China, There Is A Corporate Training Industry To Teach Working Girls How To Snare You Using Social Apps
• Here’s A Picture Of A Young Kim Jong-Un Wearing A Dennis Rodman Bulls Jersey
• China’s Navy Gets Its First Stealth Frigate
• Natural capital: avoiding the next financial crisis
• Young NPC delegate has no idea what she's supposed to be doing, neither do we
• Mo Yan gives first interview since winning Nobel Prize for Literature
• Shanghai traffic cops given anti-smog nose plugs

Media Markt Closing (For Real this Time) Posted: 28 Feb 2013 08:43 PM PST Date: Mar 1st 2013 12:43p.m. Contributed by: geofferson

Victims of Egypt hot air balloon crash left without compensation Posted: 28 Feb 2013 09:00 PM PST Video has emerged (below) of the horrifying final seconds of the fated Luxor hot air balloon ride in Egypt. Compounding the grief, the SCMP reports that many of the families of the victims are unlikely to receive anything in compensation. [ more › ]

Use of 'gutter' oil lands restaurant owners in jail Posted: 28 Feb 2013 08:00 PM PST Two restaurants owners in Shanghai received prison sentences of three and a half years, and 200,000 yuan each in fines for reusing cooking oil this week. Two employees also received prison sentences and fines of lesser severity. [ more › ]

Watch: Bringing basketball to North Korea (before Dennis Rodman) Posted: 28 Feb 2013 07:00 PM PST Koryo Tours (previously) point out that despite Dennis Rodman's much vaunted basketball diplomacy, they were the first to bring American players to the DPRK. Koryo took US players and coaches to two schools, to play against and train North Korean kids, as you can see in the above video. [ more › ]

This Week in Shanghai Sports Posted: 28 Feb 2013 06:27 PM PST Date: Mar 1st 2013 9:27a.m. NFL stars make their way to Shanghai for American Football Without Barriers

Weekendist: Mar 1-3, Butch Bradley, Trippple Nippple, and more! Posted: 28 Feb 2013 06:00 PM PST It's time to have a night on the town: stand-up comedy with Butch Bradley, dance to Dicky Trisco disco, marvel at Trippple Nippple insanity - you make the choice. On Saturday, we continue with the Toxic Avenger at Arkham and Sub-Culture's first big 2013 event. And since every weekend has only three nights that want to be used, we recommend paying 390 a visit for the screenig of a punk biopic, free beer and live music. And if that's still not enough, head over to our calendar for more. [ more › ]

Product Testing Labs In China Posted: 28 Feb 2013 06:09 PM PST Very helpful post over at the always very helpful Quality Inspection Tips blog, entitled, "List of the big testing laboratories in China."  The post sets out a list of product testing labs in China, with all sorts of contact information and personnell names.  If you are involved in manufacturing in China, this list will likely prove quite useful to you and I recommend you go read it.

Qian Qiu Xiao Guan: A Taste of Taipei Posted: 28 Feb 2013 05:25 PM PST Date: Mar 1st 2013 9:20a.m. Contributed by: mengsta

Infographic: The numbers behind the Great Firewall of China Posted: 28 Feb 2013 05:00 PM PST The Great Firewall of China might be loathed by pretty much everyone, but one can't deny that it can be pretty effective. This infographic, from Background Check, explains how the firewall actually functions. [ more › ]

The Glory of Imperial Russia Posted: 27 Feb 2013 05:00 PM PST It had been a winter of great discord, with even Russia's wealthiest cities stalked by a sweeping tide of violent bolshevism. And yet how far the Tsar's summer home seemed from all this blood, as the rich strolled on the warm grass oblivious to the death fast approaching. And even now was their blindness anything but the arrogance of the Imperial throne, and characteristic of this age of contradictions? Learning Chinese? Our lesson for today is inspired by several of the Russian television series we've seen imported into China over the years, and dedicated to anyone who has ever watched a full episode of these imported soap operas, or even just stumbled across the name of the Russian Foreign Minister when working through the news. Because you're not alone to find eight-character foreign names excruciatingly difficult to pronounce. This posting includes an audio/video/photo media file: Download Now

China Shutters 225 Websites And More Than 30,000 Microblogs For “Obscene Content,” But Not PornHub Posted: 28 Feb 2013 01:44 AM PST China ostensibly hates porn — hates it with a passion and hates it despite reason – but its state news organization links to it and — as the running joke with us goes — one particular porn site, the 39th most popular in the US, remains unblocked. To clarify: that's 39th most popular website, not just porn site, and 65th most popular website in the world. PornHub. Through thick, thin, and Internet nukeage, it has remained unblocked, like a cockroach, never to be eliminated. So it is that when we saw Xinhua's latest announcement that China's relevant ministries recently terminated 225 websites and more than 30,000 microblogs that distributed "obscene content" — culled from more than 79,000 tips — we wondered: is PornHub still there? The answer is yes. There's a lovely gif on the right sidebar, too. Please don't visit if you're in an office… …unless, that is, your office is the one that was assigned to assess those 79,000 user-sent tips. For anyone — and I mean anyone — that's a lot of porn to look at. Does one get desensitized? Does it basically ruin your chance of keeping a normal sex life? I don't know. But good job, Ministry of Industry and Information Technology and Ministry of Public Security. China is such a safer place thanks to your due diligence. PORNHUB. 225 websites closed for spreading porn (Xinhua)

Ai Weiwei Is Bored: Here He Is In His Beijing Studio (Pictures By Jamie Hawkesworth) Posted: 27 Feb 2013 10:44 PM PST The outspoken agitator you know as Ai Weiwei — who, last we checked, is still not allowed to leave the country — might be weary and beat down (or just mugging for the camera), judging by these pictures by Jamie Hawkesworth, who recently visited the artist in his Beijing studio, commissioned by the magazine AnOther. As Rob Alderson writes on It's Nice That: What I particularly love about the series is that while some speak of the dissident artist's plight in fairly direct terms (the policemen posted outside, the artist slumped unhappily towards the camera) other shots offer a far more tangential take on Ai Weiwei's situation, inviting us to see – or maybe invent – metaphorical detail as and when. This beautiful series is easily in the top bracket for the ubiquitous studio visit style photoshoots, combining Jamie's creative talent with the extraordinary situation of his famous subject. We're not the biggest champions of Ai Weiwei's work, but the artist is indeed a valuable lodestone, and it's for the greater good that he attracts such outstanding fellow artists. The "Ai Weiwei as caged bird" metaphor can't be clearer in this following shot, among others over at the It's Nice That website: Jamie Hawkesworth's stunning studio visit shots of Ai Weiwei for AnOther are superb (It's Nice That, h/t Alicia via Hypebeast)

Teenager Poops In Guangzhou Subway Trash Receptacle Posted: 27 Feb 2013 09:01 PM PST This raises a very, very important question: does poop really belong in the "recyclable" side of the trash bin? Biodegradable isn't the same as recyclable, is it? At least he's not doing it inside a subway carriage. (Sina Weibo user @粤语最盏鬼, h/t Will Crook) UPDATE, 7:28 pm: Mr. Crook sends this along: it appears that Guangzhou Metro has posted on its official Sina Weibo account the locations of bathrooms throughout the subway network. "Hurry and pass this to your nearby friends," it writes. It manages to avoid all mentions of what's happening in the picture above. Well played, Guangzhou Metro.

Why Yes, In China, There Is A Corporate Training Industry To Teach Working Girls How To Snare You Using Social Apps Posted: 27 Feb 2013 08:32 PM PST Those who use Momo and, to a lesser extent (but not much lesser), WeChat probably already know this, but social Apps are great for finding new and — how shall we say — temporary friends. However, if you are cruising around in the great murky sea trawling for bottles or booty, you open yourself up to getting hooked, too. Really open yourself up, actually, because you're going up against professionals. As if you needed confirmation that prostitutes are on social Apps to lure clients, please turn your attention to the above video, found by The Nanfang, in which working girls sit in on a lecture on this very subject. "Everybody wants to get more clients, get more tips," says the bespectacled lecturer, her curly hair tied into a ponytail to make her the spitting of every matronly "teacher" you've seen in pornos. "You can find the answer through our marketing method. Today, I want to tell everybody the reality…" It turns into a pep talk about the ease with which girls can break the profit ceiling by using Momo, WeChat and Weibo. (We wish Jim Boyce's Momo party had been like this.) "Really, it's all very easy!" says the lecturer. She turns toward a TV screen that shows a woman's profile and proceeds to assess it. A couple of women in the class begin whispering and giggling, but mostly everyone pays close attention. Men out there: you have no chance. Watch: Prostitutes in China get a lesson in using Momo, WeChat to lure clients (The Nanfang)

Here’s A Picture Of A Young Kim Jong-Un Wearing A Dennis Rodman Bulls Jersey Posted: 27 Feb 2013 07:14 PM PST Pictured above, flagged by Gawker via Daily NK, is Kim Jong-un, the dictator as a young man during his days at a Swiss boarding school. How exceptionally notable is it that from a team with Michael Jordan and Scottie Pippen, he chose to don the No. 91 jersey belonging to Dennis Rodman? We're reminded of this AP report back in 2009: "A classmate recalled him as timid and introverted but an avid skier and basketball player who was a big fan of the NBA star Michael Jordan." Ah, so maybe Kim was just a sports hipster? Whatever the case, here's your reminder that Dennis Rodman — The Worm, The Weird One — is currently in North Korea with VICE and, in all likelihood, killing it. You can follow his adventures at the hashtag #WORMinNorthKorea. We can't wait for his sit-down with the man — now all grown up — pictured above: It's true, I'm in North Korea.Looking forward to sitting down with Kim Jung Un.I love the people of North Korea. #WORMinNorthKorea — Dennis Rodmanさん (@dennisrodman) 2013年2月26日

China’s Navy Gets Its First Stealth Frigate Posted: 28 Feb 2013 09:31 AM PST The PLA-Navy has taken delivery of the first of 20 Type 056 frigates (above). They are called stealth frigates because of their ability to evade radar detection thanks to a sleek design and some of the same technology that goes … Continue reading →

Natural capital: avoiding the next financial crisis Posted: 27 Feb 2013 11:55 PM PST Earth's ecosystems are the foundations of our economy, but rarely appear in balance sheets. That means risks for markets Nature underpins global wealth creation. The renewable flow of goods and services provided by the earth's ecosystems buttress our economy and yield benefits for business. But this stock of ecosystems – also known as "natural capital" – is largely invisible in financial decision-making. As a result, natural capital does not appear on the balance sheets of businesses and is largely unaccounted for in financial products. Take for instance an investor in London, Shanghai or New York who finances a palm-oil development scheme in Indonesia or Africa, resulting in clearance of a large area of natural tropical rainforest. The dependency on and impacts of this investment on climate, food, energy, water and livelihood security are unlikely to be included in the cost of capital or debt, credit ratings on fixed income products, investment analysis or insurance premiums. Most finance institutions still do not believe that natural capital is material to their bottom line. As a result, for many types of financial products there are at present no metrics available to incorporate it (quantitatively) in credit risk. But loss of forests affects water supplies vital to agriculture and hydropower. Greenhouse gas emissions from forest clearance account for about 12-15% of emissions globally. Species loss is immense, while deforestation can trigger community conflicts. Economists estimate forest loss alone is eroding natural capital and ecosystem services valued at US$1.2 to US$4.7 trillion per year. There are also a number of ways natural capital consumption may affect the risk profile of an individual investor. First, there is a reputational risk, which may inhibit an institutions' ability to raise funds in the future, based on a history of irresponsible investment. Second, there are important legislative and liability considerations, demonstrated by a growing number of cases of companies being held financially responsible for biodiversity and ecosystem impacts. The EU Environmental Liability Directive (ELD), for example, makes companies directly accountable for impacts on water resources, fauna, flora and natural habitats. Operators of risky or potentially risky activities can therefore be held liable for the preventative and remedial costs of environmental damage. In these cases investors may be left exposed to any litigious action against the operating company which would adversely affect the price of their shares. For industries dependent on natural capital, the continued erosion of global resources presents additional operational challenges. Exponential population growth is putting ever increasing pressure on the limited global natural capital base. The resulting surging demand in the past decade alone has reversed a 100-year decline in resource prices. Growing pressure on agricultural production, as well as associated water and energy requirements, from feeding an additional billion people by 2030 will trigger considerable increases in the price of global commodities. These predicted price rises fall well within the investment horizon of pension funds and many project finance loans. And they represent potentially difficult supply-chain challenges for business and an important credit risk consideration for investors. A 2011 report by Ernst and Young found that 29% of profit warnings from FTSE companies were caused by increases in the cost of raw materials. For large financial institutions, where due to the complexity of their activities, the exact level of exposure to natural capital is often not fully understood, this represents a very real risk. A recent study by UNEP FI and PRI revealed that environmental externalities can equate to up to 50% of company earnings in standard equity portfolio. Natural Capital Declaration The Natural Capital Declaration, launched in June 2012, is an attempt to do something about this web of risks. The industry-led initiative aims to encourage widespread integration of natural capital considerations into financial products and services, and work towards their inclusion in financial accounting and reporting. It isn't the first step taken by the industry. Financial institutions began to address natural capital issues before 2012 through the adoption of the Equator Principles – a voluntary set of standards to help banks identify environmental and social risks linked to financing large projects like dams or mines – and the development of specific policies for environmentally sensitive sectors such as mining, oil and gas, forestry and chemicals. Leading companies are taking commitments to "green" their supply chains and some governments are making plans to account for natural capital nationally. However, a systematic approach to understanding how a bank, an investment firm or insurance company impacts and depends on natural capital – indirectly through corporate customers, or directly through say, project finance – is lacking. Many institutions are in the dark about how to integrate natural capital considerations beyond project finance. The increasingly complex web of financial transactions held on a financial institution's balance sheet, interbank lending, corporate finance and creative financial products, often mean that, as with the 2008 financial crisis, the location, dependency and exposure to natural capital and the risk of natural capital depletion is hard to measure. The Natural Capital Declaration specifically aims to develop metrics and tools to help financial institutions integrate natural capital in a broad range of financial products including corporate finance, corporate and sovereign fixed income, private equity and insurance products. As increasing global pressures chip away at stock of natural capital, businesses face mounting challenges. These can come in the form of legal liability, credit, reputational, regularity and portfolio risks, each presenting different threats and requiring additional mitigating measures. For example, climate-change driven shifting rainfall patterns have led to the destabilisation of the global commodities markets, exposing financial institutions to risks from increasingly unstable asset prices. Market destabilisation is one consequence of a shrinking natural capital base, other examples might be: declining hydropower linked to increasing drought, political restrictions on the export of genetic material, an unexpected and irreversible collapse of fish stocks, stranded assets resulting from changing energy legislation, all of which present a material risk to financial institutions. Acting now to boost profits The outlook is not all bleak however. Understanding the risks posed by degradation of natural capital can bring a market advantage and the ability to generate additional returns at the same time as maintaining the global stock of natural reserves. Financial institutions can generate long-term profit from equity holdings in companies which, say, take serious measures to sustainably and responsibly source fish, or which take a long term view to managing timber reserves in paper and pulp supply lines. Such measures will not only benefit individual holdings, but also boost stability in markets dependent on natural resources. Equally, as the corporate sector develops its natural capital agenda, integration of natural capital into business accounting standards will make it easier for financial institutions to discern profitable investments. Investments in new technologies which increase efficiency and cut consumption could also prove lucrative, as could low impact industrial processes. Financial institutions can improve their market position by leading in this space, as well as through the development of certified products. The Roundtable on Certified Palm Oil, set up in 2004, had certified 11% of total palm oil production by 2011, for example. Similarly, the Marine Stewardship Council (MSC), which certifies sustainably managed fisheries, presently accounts for 147 fisheries and 2,000 seafood businesses, meaning around 8% of all wild caught seafood is certified by this standard. Increasingly conscious consumers are driving the development of these markets. In the 12 months from 2010 to 2011, the volume of MSC certified products on retailers' shelves increased by 62%. When seen this way, natural capital is very much a risk and reward game. Risk mitigation side by side with opportunity expansion makes for a smart proposition.

Young NPC delegate has no idea what she's supposed to be doing, neither do we Posted: 28 Feb 2013 05:00 AM PST One of the youngest members of the National People's Congress has inadvertently highlighted the pointlessness of the very institution she belongs to after she admitted she had to do research online to work out what the hell she was supposed to be doing at the annual meeting of the NPC which takes place in Beijing next week. [ more › ]

Mo Yan gives first interview since winning Nobel Prize for Literature Posted: 28 Feb 2013 04:00 AM PST Mo Yan, winner of the 2012 Nobel Prize for Literature, has been subject to much criticism over his perceived cosiness with the Chinese government. In his first interview since becoming a Nobel laureate, Mo spoke to Der Spiegel about politics, writing, and Ai Weiwei. [ more › ]

Shanghai traffic cops given anti-smog nose plugs Posted: 28 Feb 2013 03:00 AM PST In an attempt to protect its officers from the sweet, cancerous smell of PM2.5 smog, Shanghai's Songjiang district has begun equipping its police force with hilarious purple nasal filters. Unlike the classic pollution masks worn by most air-quality conscious citizens, nasal plugs still allow police officers to blow whistles and shout (presumably while sounding as though they have severe congestion). [ more › ]

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