July 4th, 2011
11:17 PM GMT
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(CNN) – Oh say can you see…the end of American independence?

This Fourth of July, the United States celebrates its 235th year of freedom from British rule. That’s emancipated us from yeasty marmite, pesky ‘u’s in our ‘neighbors’ and from having to ask God to “save the Queen”.

Phew. Yes, today we celebrate our independence from Britain.

But we do that by underlining our growing dependence on another country – China. And with our most patriotic of Americana for the day – fireworks and flags.

Nearly 97% of U.S. money for firework imports popped up in China last year, according to U.S. trade statistics. The hard numbers: we paid nearly $200 million for all of our skyrockets, Roman candles, sparklers and other pyrotechnics. More than $190 million of that went to the Middle Kingdom.

As for the Stars and Stripes, about 88% of our money for American flag imports billowed over to China in 2010.  U.S. foreign trade statistics show that the U.S. imported $3.2 million worth of flags, and $2.8 million of that went to our top trade partner.

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July 4th, 2011
04:29 PM GMT
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(CNN) - From Hong Kong to mainland China, through boardrooms and dining rooms – we've followed him for ten months. And now we say goodbye to Michael Wu.

His catering company, the Hong Kong Maxim's Group, has broken into one of the world's biggest markets.

The challenge now is to conquer it.

To do that, he needs his staff more than ever before.

It’s time to rub shoulders with 'The Boss:'

Filed under: The Boss


July 4th, 2011
04:28 PM GMT
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(CNN) - On this edition of the “The Boss,” risk is the main ingredient as Michael Wu’s experimental chocolate cake hits the shelves.

But not before our other boss, Steve Hindy, launches a lager with a difference.

It's not just cakes and ale – it's millions of dollars riding on strategy, tactics and taste on episode 29 of The Boss:

Filed under: BusinessThe Boss


July 4th, 2011
04:12 PM GMT
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