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Tianhe-2, the new Chinese supercomputer takes the lead and clocks in at 33.86 petaflops to break speed record

Tianhe-2, the new Chinese supercomputer takes the lead and clocks in at 33.86 petaflops to break speed record | Global Asia Trader | Scoop.it

A Chinese supercomputer known as Tianhe-2 was today named the world's fastest machine, nearly doubling the previous speed record with its performance of 33.86 petaflops. Tianhe-2's ascendance was revealed in advance and was made official today with the release of the new Top 500 supercomputer list.

 

Tianhe-2 was developed at China's National University of Defense Technology and will be deployed in the country's National Supercomputing Center before the end of this year. "The surprise appearance of Tianhe-2, two years ahead of the expected deployment, marks China’s first return to the No. 1 position since November 2010, when Tianhe-1A was the top system," the Top 500 announcement states. "Tianhe-2 has 16,000 nodes, each with two Intel Xeon Ivy Bridge processors and three Xeon Phi processors for a combined total of 3,120,000 computing cores."

 

The combined performance of the 500 systems on the list is 223 petaflops, up from 162 petaflops in the previous list released six months ago. A petaflop represents one quadrillion floating point operations per second, or a million billion.

 

26 systems hit at least a petaflop. IBM's Blue Gene/Q accounted for four of the top 10, while Intel provided the processors for 80.4 percent of all Top 500 systems. 39 systems use Nvidia GPUs to speed up calculations, and another 15 use other accelerator or co-processor technology such as AMD's ATI Radeon and Intel's Xeon Phi.

 

252 of the 500 are installed in the US, 112 are in Europe, 66 are in China, and 30 are in Japan. The slowest computer on the list hit 96.6 teraflops, compared to 76.5 teraflops for the slowest computer on last November's list.

 

Besides Tianhe-2, the only new entrant in the top ten is a Blue Gene/Q system named Vulcan at Lawrence Livermore National Laboratory.


Via Dr. Stefan Gruenwald
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Miro Svetlik's curator insight, June 18, 2013 4:01 AM

Hmm so chinese guys have dropped their famed own cpus and are now buying from intel ;). 33.86 petaflops is not bad however in the last article I have read they were claiming something around having 50+ petaflops so I assume this is a temporary figure (http://nextbigfuture.com/2013/06/china-tianhe-2-supercomputer-based-on.html

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Trading Portal for Stock Markets

Trading Portal for Stock Markets | Global Asia Trader | Scoop.it
Europe's Global Online Trading Portal at the Pillars of Hercules in Gibraltar.
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Investors Europe Stock Brokers's comment, March 6, 2013 11:04 AM
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China faces biggest fiscal challenge since 1981 @investorseurope Asia Stock Brokers

China faces biggest fiscal challenge since 1981 @investorseurope Asia Stock Brokers | Global Asia Trader | Scoop.it
Chinese fiscal revenue growth will hit its weakest level in over three decades this year, Deutsche Bank warned, which may hurt the slowing economy.
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Octoputin : What Goes Round Comes Round

Octoputin : What Goes Round Comes Round | Global Asia Trader | Scoop.it
Falling energy prices and the plunge in the Russian ruble are hitting currencies across the former Soviet states.
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CHINA - Zhejiang billionaire with ties to Ling Jihua detained @investorseurope Mauritius Stock Brokers

CHINA  -  Zhejiang billionaire with ties to Ling Jihua detained @investorseurope Mauritius Stock Brokers | Global Asia Trader | Scoop.it
A billionaire Zhejiang businessman with ties to the family of disgraced high-ranking official Ling Jihua has been detained by China's central anti-graft authorities, reports Duowei News, a US-based ...
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Brent crude oil rises above $62 a barrel as Asian markets open strong - The Economic Times

Brent crude oil rises above $62 a barrel as Asian markets open strong - The Economic Times | Global Asia Trader | Scoop.it
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent in early trade, while Japan's Nikkei stock average was up 0.4%.
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Russia strategically offloading more of its diamond production to India to avoid meltdown

Russia strategically offloading more of its diamond production to India to avoid meltdown | Global Asia Trader | Scoop.it
Last week Alrosa signed a dozen deals with Indian buyers to increase direct deliveries to Asia's third-largest economy. The firm earns half of its revenue, or around $2.5bn, from Indian-funded clients, and the deal could help Russia reduce risks linked to Western sanctions imposed over its role in the Ukraine crisis.
Last month Alrosa revealed a 10.5bn rouble (£110m) loss for its third quarter despite sales rising 7.6pc.
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IKEA’s charitable giving in Russia and the FCPA @investorseurope offshore stock brokers

IKEA’s charitable giving in Russia and the FCPA @investorseurope offshore stock brokers | Global Asia Trader | Scoop.it
When I was about to go work in Russia in 2012, somebody suggested that I read Lennart Dahlgren&...
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Falling oil prices a boon for China's economy

Falling oil prices a boon for China's economy | Global Asia Trader | Scoop.it
Since China surpassed the US in September 2013 as the world's largest net oil importer, falling oil prices have brought enormous benefits to the development of the country's economy, Shanghai's Nation...
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Poutine s'est entretenu avec Obama lors du sommet de l'APEC

Poutine s'est entretenu avec Obama lors du sommet de l'APEC | Global Asia Trader | Scoop.it
Vladimir Poutine a plusieurs fois parlé avec le président américain Barack Obama dans les couloirs du sommet de l'APEC à Pékin.

Via L'Info Autrement
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India's economy likely to grow 6.4% next year; may be a hair's breadth away from China by 2016: OECD

India's economy likely to grow 6.4% next year; may be a hair's breadth away from China by 2016: OECD | Global Asia Trader | Scoop.it
OECD has bumped up India's growth forecast for next year citing a pickup in investment because of the improved political situation.
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China's leading solar firm files for bankruptcy protection in US

China's leading solar firm files for bankruptcy protection in US | Global Asia Trader | Scoop.it
China's leading solar firm LDK Solar filed for bankruptcy protection in the United States Wednesday as a key step for the troubled company's overseas debt restructuring.The company started its overs...
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How Kurds World Forgot Are Holding Off IS

Right now in Syria a desperate fight is under way against Islamic State (IS) forces that control so much of the north of the country.In the east th...
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UK SMEs increasingly look to China for future growth - SMEweb

UK SMEs increasingly look to China for future growth - SMEweb | Global Asia Trader | Scoop.it
This is the finding of new research looking into SMEs' confidence about the UK's economic climate and their growth expectations.

Via Moti Blau
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Why Paul Krugman is scared of China - CNNMoney

Why Paul Krugman is scared of China - CNNMoney | Global Asia Trader | Scoop.it
For economist Paul Krugman, the challenges facing China's economy are enough to keep him up at night.

Via Almir Neto, Agriculture and economy
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79% of China’s GDP growth since 2008 is from Credit Expansion @investorseurope offshore stock brokers

It was nine months ago when we reported that Li Ka-shing, the richest man in Asia, had sold all of his major assets in China.

In 2013 when he started dumping his Chinese property holdings he was being ridiculed and criticized. Everyone was bullish on China’s real estate market.

It turns out you don’t want to bet against a man with a track record like Li’s.

Li Ka-shing’s grasp for major trends is unmatched. And he demonstrated his shrewdness and insight yet again when China’s real estate market went into correction mode last year.

He got out right at the peak of the market.

He recognized that China’s major credit bubble isn’t sustainable. Behind closed doors, the bosses in Beijing know it too.

A recent report by the chief economist at the Bank of Singapore reveals that the Chinese leadership is desperately trying to conceal the effects of excessive credit and engineer a ‘soft landing’.

And yet Chinese credit expansion continues.

Data from the Bank of International Settlements shows that in 2014 credit expansion’s share of GDP growth soared by 14%.

Since the end of 2008, credit expansion has accounted for 79% of China’s GDP growth.

Historical data and analysis shows that such levels of credit expansion inevitably lead to a lot of bad debts that can’t be repaid.

We’ve already seen first ever Chinese corporate defaults as a result of these policies, and we can expect more.

The long-term trend for China is of course, positive, but this doesn’t mean it’s going to be a smooth ride along the way. Nothing goes up or down in a straight line.

Right now, renminbi assets are falling and renminbi is weakening. Capital is fleeing China in fear of a major credit crunch.

Li was one of the first to spot this trend, and he got out.

Moreover, he’s hedging his bets across the board.

His most recent move is to restructure his investment companies and move them to the Cayman Islands.

Li is being very prudent-- moving his money and his assets far away to safe, stable locations so that no single government has control over him.

Until now he was very much dependent on a single jurisdiction. He resides in Hong Kong and has Hong Kong SAR citizenship. His business interests were centered in Hong Kong and China as well.

Now, Hong Kong is an incredible place. The banks are well-capitalized, the government is solvent, and there’s a lot of economic opportunity.

But no matter how safe you think your home country might be, it NEVER makes sense to be completely dependent on one place.

Li understands that. Hedging your bets is crucial.

He has already acquired a second passport (Canada), and now he’s moving certain business interests and cash assets abroad.

In doing so, Li is also making sure that the wealth he worked to build over his entire life will be properly safeguarded for his family.

It’s hard to imagine he’ll be worse off for doing any of this. And if the worst happens, Li will be much better off for following his instincts.

This is good advice for anyone.

Remember: rational, successful people have a Plan B.

Rational, successful people take steps to minimize their downside risk.

 
Until tomorrow, 
 
Simon Black 
Founder, SovereignMan.com
 
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CHINA : Slurry tank explosion flings faeces on people in Guangxi to bring in the New Year?

CHINA : Slurry tank explosion flings faeces on people in Guangxi to bring in the New Year? | Global Asia Trader | Scoop.it
A slurry tanker containing human waste suddenly burst spraying innocent bystanders and nearby shops in Hechi in southern China's Guangxi Zhuang autonomous region on Saturday, according to a Chinese ...
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Hero's welcome for South Africa's first Miss World in 40 years

Hero's welcome for South Africa's first Miss World in 40 years | Global Asia Trader | Scoop.it
South Africa on Saturday welcomed back home its first Miss World winner in 40 years, Rolene Strauss, with wild cheers More...
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International Adviser: Chase de Vere fined £560k for Keydata sale failings

International Adviser: Chase de Vere fined £560k for Keydata sale failings | Global Asia Trader | Scoop.it
Chase de Vere Independent Financial Advisers has been hit with a fine of £560,000 for misleading customers in the sale of Keydata products.
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Japan in recession as economy contracts 1.6% @investorseurope Mauritius Stock Brokers

Japan in recession as economy contracts 1.6% @investorseurope Mauritius Stock Brokers | Global Asia Trader | Scoop.it
The nation's gross domestic product fell at an annualised 1.6 per cent pace in July-September, after it plunged 7.3 per cent in the second quarter.
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Macau has one company per 13 inhabitants @investorseurope Mauritius Stock Brokers

Macau has one company per 13 inhabitants @investorseurope Mauritius Stock Brokers | Global Asia Trader | Scoop.it

'Local entrepreneurs continue to boost Macau’s economy as they continue to launch a record number of businesses. According to official data, thousands of firms are popping up every quarter, in the main SMEs owned by residents, reports the Macau Business Daily.

In the third quarter of this year,....'

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PS quer saber quantas acções do BES se transaccionaram na véspera da resolução

PS quer saber quantas acções do BES se transaccionaram na véspera da resolução | Global Asia Trader | Scoop.it
Requerimento socialista entregue a Fernando Negrão, que preside à comissão de inquérito, pretende conhecer os fluxos registados pela CMVM de compra e venda de acções do banco, nos quatro dias finais do banco.
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Israel seals long-delayed $144 million missile deal with India - Haaretz

Israel seals long-delayed $144 million missile deal with India - Haaretz | Global Asia Trader | Scoop.it
Under the plan, India will take delivery of 262 Barak 1 missiles over the course of about five years, starting in December of 2015.
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Hong Kong protest site calm as accusations fly

Hong Kong protest site calm as accusations fly | Global Asia Trader | Scoop.it
Hong Kong (dpa) - A key protest site for pro-democracy activists in Hong Kong was calm Monday, after a weekend which saw numerous clashes with poli...
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Is Australia destined to be dragged down by Europe's economic malaise?

Is Australia destined to be dragged down by Europe's economic malaise? | Global Asia Trader | Scoop.it
The EU economy is roughly the same size as the United States. When something that big hits the wall, it has reverberationsGreg JerichoThe global ec...
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India and China Have Outgrown the West - Huffington Post

India and China Have Outgrown the West
Huffington Post
(The trade balance is, however, skewed 2 to 1 in China's favor.) China has now overtaken the U.S.
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