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CAPE TOWN, South Africa - Central bank chiefs from the U.S., Europe and Japan warned Tuesday of the risks of the Chinese economy overheating, potentially adding to inflationary pressures in other countries. U.S. Federal Reserve Chairman Ben Bernanke and European Central Bank President Jean-Claude Trichet also urged Beijing to let its currency rise in value, saying it would benefit both China and the global economy. "A quick pace toward greater flexibility would be in China's interest and create more flexibility for monetary policy to address the potential overheating of their economy," Bernanke said in a satellite linkup with a banking conference in Cape Town. "We could all be better off, China on the one hand and the global economy on the other hand," echoed Trichet. Critics argue that China is keeping its currency artificially low, contributing to its massive trade surplus with other countries and undermining competitors' prices. Both Bernanke and Trichet conceded that the cheapness of Chinese products flooding world markets had helped reduce global inflation, although said this was balanced by China's huge appetite for fuel and raw materials -- which has contributed to higher oil prices. Overall, China's impact on global inflation was "modest," Bernanke said. China is one of the world's fastest-growing economies, and its expansion has had a ripple effect on prosperity in other countries and offset more modest growth rates in North America, Europe and Japan. Trichet said the current boom was "absolutely exceptional in the global economy," but warned that this could not last indefinitely. "Complacency would be the worst possible advice for all of us," he said. Japan, where growth is a sluggish 2 percent, is keeping a watchful eye on the new Asian giant. "We need to be mindful of the risk of overheating and we can't rule out some risk of inflation in the Chinese economy," said Toshihiko Fukui, governor of Japan's central bank. China is witnessing a stock market boom, with millions of first-time investors jumping into the market, tapping savings and retirement accounts and mortgaging homes to buy stocks. Authorities are worried that the new money is fueling a bubble in prices. Chinese stocks rebounded Tuesday in volatile trading after their sharpest one-day drop in three months a day earlier as strong buying by institutions offset selling by retail investors. The benchmark Shanghai Composite Index fell 8.3 percent on Monday -- the benchmark's sharpest decline since an 8.8 percent drop Feb. 27 triggered a global market sell-off.

The U.S. National Academy of Sciences announced on Tuesday the election of 72 new members and 18 foreign associates in recognition of their distinguished and continuing achievements in original research. The election was held this morning during the business session of the 144th annual meeting of the academy, and brought the organization's total number of active members to 2,025. Foreign associates are non-voting members of the academy. The 18 newly elected, from 12 different countries, brought the total number of foreign associates to 387. Two Chinese scientists, Zhang Qifa and Li Aizhen, were among the new foreign associates. Professor Zhang is the director of National Key Laboratory of Crop Genetic Improvement, Huazhong Agricultural University, in central China's Wuhan. Li is from the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences. The U.S. National Academy of Sciences is a private organization of scientists and engineers dedicated to the advance of science and its use for the general welfare. It was established in 1863 by a congressional act signed by Abraham Lincoln. The act calls on the academy to act as an official adviser to the federal government, upon request, in any matter of science or technology

Rescuers take a rest outside a flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in a flooded coal mine in Xintai, authoritative sources said on Saturday morning. [Xinhua]XINTAI, Shandong Province -- One hundred and seventy-two miners were trapped in a flooded coal mine in east China's Shandong province, authoritative sources said on Saturday morning.The flooding occurred at around 2:30 p.m. Friday in the coal mine of Huayuan Mining Co. Ltd (formerly known as Zhangzhuang coalmine) in Xintai City, about 150 kilometers south of Jinan, Shandong's capital.A total of 756 miners were working underground at the time of the flooding and 584 managed to escape after the accident, Xu Qinyu, general manager of the company said on Saturday morning.Downpours hit the area Friday with a precipitation of 205 millimeters, triggering flash flood and a 50-meter breach of a levee of the Wen river in the region.Floodwater from the Wen river swamped the coal mine via an old shaft. A 100-millimeter rainfall Saturday night worsened the flooding situation. The rain ended around 7 a.m. Saturday.By 8:50 a.m., the working places under the mine have been all inundated, according to the rescue headquarters.Wang Ziqi, director of the Shandong coal mine safety administration, said the trapped miners had only slim chances of survival.Most of the trapped people were from rural areas in Tai'an City and surrounding areas, said Wang Junmin, vice governor of Shandong.About 2,000 Chinese People's Liberation Army troops, armed police and miners have closed up a 30-meter section of the breached levee of the Wen river by midday Saturday.The closure of the breach is crucial to the rescue efforts and it will stop water from continuing to flow into the mine, according to rescuers.In a separate accident in Xintai, nine people were trapped in the Minggong coal mine after it flooded because of the rainstorms.Ninety-five people were working underground when the accident happened. Eight-six have been lifted alive. Rescue work is underway.Li Yizhong, director of the Administration of Work Safety and Zhao Tiechui, director of the State Administration of Coal Mine Safety, have rushed to the site to oversee rescue efforts.The work safety watchdog issued on Saturday an emergency notice urging coal mines to draw lessons from the Huayuan mine accident and immediately take preventive measures against rainstorm-triggered floods.Huayuan Mining Co. Ltd is a licensed enterprise with an annual capacity of 750,000 tons.Rescuers prepare to install the drain pipes outside the flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in the flooded coal mine, authoritative sources said on Saturday morning. [Xinhua]Rescuers work outside the flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in the flooded coal mine, authoritative sources said on Saturday morning. [Xinhua]

NANJING -- Police in Nanjing, East China's Jiangsu Province, have nabbed 47 suspects over human trafficking and rescued 40 babies, said senior officers with the Nanjing railway police office on Friday.A group of four women, each holding a newborn baby in arms but never breast-feeding the infants, arouse police suspicion on May 24 on a train from Kunming, capital of Southwest China's Yunnan Province, to Nanjing and were questioned.The women, including one identified as Lang Chunyan from Tancheng County of East China's Shandong Province, confessed that the babies were bought from Yunnan and they had been doing so with the help of two other suspects, Dao Xiufen and Ding Fachang, since 2005. While Lang's husband, Shen Yuzhou, was in charge of selling babies with the help of 10 human traders in Shandong.Lang also confessed that they usually buy a baby girl at 1,500 yuan (US0) but sell it for 8,000 yuan, while a baby boy usually costs them 8,000 yuan and can fetch 20,000 yuan for them.The Nanjing railway police set up a special team of more than 10 policemen to investigate the case.The team arrived in Yunnan on May 27 and arrested Dao, Ding and seven other suspects. Shen was later arrested in Shandong.Investigations found that the gang of human traders headed by Shen and Lang have bought 27 newborn babies in Yunnan during 16 trips and then sold them in Shandong.Forty out of more than 60 babies who were trafficked by the gang have been rescued by police so far, while police were trying to find the others.

BERLIN - German Chancellor Angela Merkel Tuesday called for "good and intensive relations" with China.German Chancellor Angela Merkel addresses a news conference in Berlin January 15, 2008. [Agencies] "The German side is perfectly ready" to continue the sound relations with China on both economic and political levels, Merkel told a news conference in Berlin, in response to a question raised by Xinhua.The two countries have to rely on each other when it comes to international cooperation, said Merkel, who plans to visit Beijing in October for the Asia Europe Meeting (ASEM).The Chancellor said China played a "constructive role" at the climate conference held on the Indonesian island of Bali in December which laid a groundwork for a successor to the Kyoto agreement on cutting greenhouse gas emissions.She also wished China every success in hosting the Beijing Olympic Games.