China alters foreign cargo law. China will ban foreign companies, organizations and individuals from irregular-scheduled cargo sea transportation from Jan 1 next year, the Ministry of Transport said in a statement on its Web site on Wednesday.

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This news could have implications not only for businesses headquartered in Taiwan, but also for businesses in the United States of America and the Association of Southeast Asian Nations (ASEAN) as well. When countries change rules regarding cargo shipments there could be dramatic ramifications economically, financially, and geopolitically. Hopefully the news above will not have an adverse impact upon actors conducting trade at this time or in the future.

In somewhat related news it was noted that a there may be a Chinese Deputy Managing Director at the International Monetary Fund (IMF). To further enlighten this audience it may be prudent to quote directly from the official website of the China Post, ChinaPost.com.tw:

WASHINGTON — China is close to clinching a top-level post at the International Monetary Fund, IMF sources said on Wednesday after the Fund’s new chief pledged to give more power to emerging economies. They said Min Zhu, a Chinese national who was a special adviser to former IMF Managing Director Dominique Strauss-Kahn, was expected to fill a new deputy managing director post to be created by the Fund’s new chief, Christine Lagarde. “Min Zhu is expected to be named to deputy managing director,” an IMF board member told Reuters. The appointment, which would give China one of the top five management jobs at the Fund, would first need the approval of the 24-member IMF board of member countries…

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Matters pertaining to the IMF are generally considered newsworthy for the business community around the globe as policymakers at that institution can have an impact upon the international economy. Although it remains to be seen whether Min Zhu will ultimately be named to the aforementioned position these developments are certainly noteworthy. Frequent readers of this blog may have taken notice of the fact that in a previous posting on this blog the possibility of a non-Western Deputy Director was discussed even though at that time it was less certain where the prospective Deputy Director would hail from. Since the United States and virtually all of the ASEAN nations currently maintain some sort of trade relationship with China these developments may prove important from multiple perspectives.

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