Naomi Rovnick

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China’s aluminum stockpiles are the highest in two years.

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Good morning, Quartz readers!

After publishing a blockbuster story revealing that Chinese premier Wen Jiabao’s family are (or at the very least have been), collectively, multibillionaires, the New York Times got itself blocked from the Chinese internet. In other words, the Grey Lady was “river crabbed.” That is Chinese online slang for “censored.” (The phrase came about because the Chinese word for river crab—he xie (河蟹)—sounds like the word for “harmonious society.” It is a gentle poke at the Communist Party’s idea that depriving people of information prevents social unrest.)

China’s coming political transition is making business people nervous. They rely on having “guanxi” (connections) with the right officials to get things done and the Beijing government can part an entrepreneur from his assets if it wants.

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Japan has named a new justice minister after the previous incumbent, Kaishu Tanaka, resigned after being embroiled in an organized crime scandal.

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Not so long ago, wealthy Chinese would keep the price tags dangling off their sunglasses, wear their ties back to front to display the designer label and celebrate every business deal with that showiest of French wines, Chateau Lafite Rothschild Bordeaux, sometimes mixed with Coca Cola. They also had a reputation for being daft with their money, buying highly leveraged structured derivatives from Hong Kong private banks that offered eye popping returns or unlimited losses. They were known as the bao fa hu (暴发户) which translates as “newly rich” or “upstart” (one of a number of Chinese modern stereotypes).

Wei Jaifu, the boss of Beijing government-backed Chinese shipping firm COSCO, just told Bloomberg: “the Chinese economy has seen a turning point in the third quarter, and it is bullish news for the shipping industry.” Wei said he believed the economy will recover because “Premier Wen [Jiabao] said” it would.

Indian billionaire Vijay Mallya inherited his father’s brewing business including the Kingfisher beer brand, then diversified into aviation.

You know how it is. You have fallen victim to the global recession. You sense you will be poorer next year than you are now. So holidays are out. But what about a house swap with a friend far away? You can live their lives for a while, and get some new ideas about how to change your own.

Chinese investors fear they may start to get a chilly reception in Canada, the Wall Street Journal reported (paywall). These fears are reportedly based on Canada rejecting a $5.21 billion bid for natural gas producer Progress Energy Resources from Malaysian energy giant Petronas.

Despite the economic slowdown in China, 2012 is already a record year for Chinese companies buying up US firms. In the first nine months of this year, Chinese corporate buyers spent more snapping up American purchases than any previous year on record, according to a report by consultancy Rhodium Group.

Here’s one way to understand China’s growth right now: Picture a flabby, middle-aged man running a marathon. While taking crystal methamphetamine.

Yes, China is still slowing down. No, we still don’t know exactly how badly. China’s GDP in the third quarter was up 7.4% from a year earlier, its slowest pace of expansion since the first quarter of 2009. This quarter’s performance was also slower than the second quarter’s 7.6% rise. But coming hot on the heels of better-than-expected industrial production and strong exports, this leaves plenty of scope for the usual heated discussion between bulls and bears on whether China’s economy is maturing and rebalancing toward a developed-world model, or hurtling towards disaster.

BHP Billiton CEO Marius Kloppers has turned gloomy. In a speech, he said the company will halt coal mine expansion in Australia. He added it was unlikely that record-high commodities prices, caused by the rapid rise of China, would occur again in the next decade. And he forecast demand for iron ore would grow by 650 million tonnes in the next 10 years, compared to 800 million tonnes in the previous decade.

Good morning, Quartz readers!

Good news today from Oslo for the embattled European Union. The Norwegian Nobel Committee awarded it the 2012 peace prize for contributions over more than six decades to “peace and reconciliation, democracy and human rights.” Note the absence of “prosperity.”

Three of the four real estate billionaires who placed highest—in their industry—on last year’s Forbes China Rich List have seen their combined net worth shrink by $2.05 billion in the past 12 months.

Talk about a wealth gap. China’s economy is slowing, and its people remain largely poor, with per capita GDP of $8,500. Yet the Forbes China Rich List reveals the country’s 100 wealthiest people have a combined personal wealth of $220 billion.  That is more than Ireland’s economic output, in 2011 ($218 billion) and more than nine times that of Cyprus ($24 billion).