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Sloppy People's Daily editing causes panic in financial marketsPosted by Jeremy Goldkorn, May 12, 2005 1:15 PM
Tha Asian Wall Street Journal reports: [Xinhua reporter] Guan Xiangdong... was on duty in Hong Kong Saturday while financially savvy colleagues took the day off, and she cobbled together a story on the impact of a possible appreciation of the Chinese currency using bits and pieces of news and analysis gleaned from that day's local newspapers... The People's Daily article was picked up and published by Bloomberg yesterday afternoon, causing a panic buy-up of Asian currencies in European markets as they started their trading day. Later on, Bloomberg published a report titled "China's People's Daily Says Yuan Report Was Mistake", saying that the People's Daily had sent a fax to Bloomberg's offices, telling them that "The English story is mistranslated and has already been pulled from our Web site". We can probably expect more of this type of thing, because foreign news agencies seem to be losing the plot: Reuters recently reported that Google was setting up "operations" in China because they had registered a rep office, and any Danwei reader knows that the main reason to visit China's state-owned websites is to find soft porn, something which has evidently escaped the notice of Bloomberg's reporters. LINKS: Thanks Andrew for link and document |
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Carl Crow's The Long Road Back to China: In 1939 Carl Crow - an American journalist, advertising executive and author who had lived in Shanghai for 25 years until forced out by the Japanese - travelled up the Burma Road from Rangoon to Chongqing on assignment for Liberty magazine - 'the most interesting assignment I have ever been given'.
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