These days, US and China cannot agree on the currency issues. US insists that RMB has been enderestimated and should be raised to the appropriate price while China states that US should not hype the currency issues which is not the prime reason of the depression and unemployment and will also cause the degradation of the trade between China and US.

The conflict of RMB exchanging rate has been a long histroy and was aroused directly because of  US’s midterm election. Meanwhile, US is worried about the growing power of China. China’s large trade surplus to US is regarded as a threat by US.

China has annouced to implement the currency reformation and RMB’s price has been raised during the past few days. However, US was not satisfied. Facing it, China claimed that the rise of exchanging rate needed depend on domestic economic situation and the pressure would have inverse impact on the solution of the problem. http://www.chinadaily.com.cn/china/2010-09/15/content_11308554.htm

Now EU has followed US to exert pressure on China, but there are few other countries advocating US’s appeal. http://www.voanews.com/english/news/asia/EU-China-Cannot-agree-on-Currency-Measures-104438954.html  http://www.chinadaily.com.cn/business/2010-10/07/content_11381089.htm

Actually, as  Premier Wen says, the major profit of the trade is gained by US corporation while very little was obtained by Chinese companies. http://www.cnnstudentnews.cnn.com/TRANSCRIPTS/1010/03/fzgps.01.html

Under the pressure of FCTC, the tobacco corporations in China deliberately plan the different strategies towards domestic and overseas market in order to escape the supervisement of FCTC and also to mislead the consumers. At the same time, Those companies play the “culture” card actively, changing the way of advertising to induce the consumers to buy the cigarettes regardless of the harm to health.

The usual methods used by those companies is to link the tobacco brand with the common value orientation of the citizens. For example, the “Chung Hwa” linkes its brand by advertising “Love My Chung Hwa” which means love the motherland in China. 

The actual propose of the advertisement is to increase the consumption and foster the recognition to the cigarettes of the next generation. It even impresses on the next generation by sponsoring the Hope Schools and sprots events and providing the bursary. It seems a kind support but actually a worse act. For instance, the school motto of SiChuan Hope School is “Determine to contribute to the society, tobacco helps you to be talent”. How will children feel when they see that motto? That’s a really unethical problem most Chinese tobacco companies commit. http://china.globaltimes.cn/society/2010-09/577420.html

China is facing a lot of problems while it is rising. The stunning news in the early 2010 of its illegal cooking oil shocked both its citizens and the world. It is reported that  the oil is made from kitchen waste and its annual profit of the industrial chain of is approximately 20 billion RMB. Read more:http://www.china.org.cn/china/2009-11/17/content_18902587.htm；http://www.nytimes.com/2010/04/01/world/asia/01shanghai.html

The followings are some of the process of retreiving, producing and using the illegal oil:

As mentioned above, the annual profit is extremely small compared to the other industry in China. Why such a low yield but high hazardous  industry is so prevalent in China? There must be some thing wrong with the business ethic.

As the industry is run by the disadvantaged, it reflects the lack of ethic of those individual proprietors, especially their expand of greed. They have no regardness of social responsibility but only care about making profits. Although it is upon to different person whether to assume the social responsibility according to Milton Friedman, you can’t bring about social problems.  The main ethics problem is those oil makers forget the basical principle of business which is running the businiess without deception and fraud.

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