China Press Review – May 10, 2019

Press review

Trade war: Biggest threat to global economy and will destroy Europe jobs
French Finance Minister Bruno Le Maire said on local news that an escalation in the US-China trade war posed the gravest threat to the global economy and that it threatened to destroy jobs across Europe.
finance.yahoo.com

US China trade war: What’s in it for Europe?
Opportunities and threats for EU firms from the escalating trade war between the US and China
think.ing.com

Trump tweets: No need to rush to a trade deal with China
US President Donald Trump takes to Twitter after raising tariffs on Chinese products Tells farmers revenue will be used to buy their products for humanitarian aid
www.scmp.com

China and the US are caught in a Cold War trap
The trade war and peace talks have illustrated that more ‘flashpoints’ lurk on the horizon
www.asiatimes.com

Britain concerned by U.S.-China trade tensions – UK PM’s spokeswoman
The U.S. escalated a tariff war with China on Friday by hiking levies to 25% for $200 billion worth of Chinese goods in the midst of last-ditch talks to rescue a trade deal. “We have been saying on this for some time that we are concerned about it and that we are clear that nobody benefits from trade wars,” the spokeswoman said. “The discussions between the two are ongoing and we hope that they will find a resolution to avoid any further escalation.”
www.kitco.com

China Vice-Premier Liu He ‘came to US against pressure’ to prove Beijing’s sincerity in trade talks
Beijing’s top trade negotiator says he seeks ‘very candid exchange of views’ with US counterparts Talks coincide with US’ tariff increases on Chinese goods, which Donald Trump claims provoked greater urgency from Beijing
www.scmp.com

Trade war: Trump raises tariffs on $200bn of Chinese goods
The US has more than doubled tariffs on $200bn (£153.7bn) worth of Chinese products, in a sharp escalation of the countries’ damaging trade war.
www.bbc.com

China vows to implement ‘necessary countermeasures’ in response to Donald Trump’s US tariff increase
Increase from 10 per cent to 25 per cent on US$200 billion of Chinese goods was threatened by the US president in a tweet on Sunday Vice-Premier Liu He is in Washington for the 11th round of talks, but left a meeting with US Trade Representative Robert Lighthizer after less than 90 minutes
www.scmp.com

China Is Armed With Powerful Market Weapons in Duel With Trump
Currencies, Treasuries and soybeans are seen as cudgels Yuan and beans have fallen, but bonds have remained buoyant
www.bloomberg.com

Will China use its US$1.2 trillion of US debt as firepower to fight the trade war?
Fears are mounting among investors and analysts of potential adverse effects on global economic growth as China promises to strike back after US raised tariffs on Friday Uncertainties on how escalating tensions will unravel have hurt markets this week
www.scmp.com

Has Trump’s ‘Art of the Deal’ met its match in Xi Jinping’s long game? FBI’s former crisis negotiator breaks it down
Former FBI crisis negotiator says he is not convinced Trump has ‘appreciation for the strategic instruments that successful international relations require’
www.scmp.com

The U.S. and China Are Living in Different Universes
After all the talking, there’s still a huge gap in perceptions. That says as much about the countries’ leaders as it does about the state of diplomacy.
www.bloomberg.com

Trump’s China Tariffs: A Misplaced Strategy for the US Economy
Instead of imposing additional tariffs, which will hurt the Chinese and U.S. economies, the U.S. should have its own research and development strategy, says Richard Vague, author of The Next Economic Disaster

Trump’s China Tariffs: A Misplaced Strategy for the US Economy

US-China trade deal: higher tariffs come into effect as talks continue
Damaging trade war could destabilise the already slowing global economy
www.theguardian.com

US-China trade tensions ‘threat to the global economy’: IMF
Renewed tensions between the two economic superpowers were hanging over the negotiations that were set to resume later May 9 and IMF spokesman Gerry Rice renewed the call for a ‘speedy resolution’.
www.moneycontrol.com

US firms fear retaliation to Donald Trump’s tariffs will be ‘final nail in the coffin’ for exports to China
US Dairy Council fears for the future of its access to the huge consumer market with Beijing expected to respond to the anticipated new 25 per cent rate on Friday Exporters of blueberry, whiskey and wine also say that Beijing’s retaliation would put a dampener on their business, which is already reeling from previous tariffs
www.scmp.com

US hikes tariffs on China products, intensifying trade war
Talks to continue but global economic fears grow as Beijing vows to retaliate
asia.nikkei.com

Why US-China trade war’s latest escalation could be good news for Brazil, Mexico and Vietnam
With US tariff hikes on Chinese goods kicking in on Friday, other countries are watching with interest But their gains may not offset an overall negative impact on Asian economies
www.scmp.com

Today’s 25% Tariffs Against China Products: A Roadmap on What YOU Should do Now

Today’s 25% Tariffs Against China Products: A Roadmap on What YOU Should do Now

U.S.-China Trade War Worsens, but Investors Bet on a Deal
Global markets rose on Friday despite President Trump’s tariff increase amid hopes that the two sides still have time to negotiate.

9 Consequences of the Upcoming US-China Trade War
Based on all the articles I have read about the current geopolitical situation, I am not optimistic about the affect of the US-China trade war on American importers. Dan Harris, who wrote “the US-China Cold War start now,” announced that a “mega-storm” might be coming, and he may be right.
Now, if things turn out as bad as predicted, and if tariffs apply on more goods imported from China to the US — and at higher rates — what does it mean for US importers?

9 Consequences of the Upcoming US-China Trade War

High-tech supremacy at stake in US-China trade war
A race for global supremacy in the tech sector is at the centre of the fraught trade war negotiations between the United States and China.
www.businesstimes.com

US blocks China Mobile from offering service in America over national security concerns
Regulators vote against the Chinese telecoms company’s application to provide US phone service Ruling comes with Chinese delegation led by top negotiator Liu He arriving in Washington for trade talks
www.scmp.com

China urges U.S. to respect market economy after China Mobile denied entry
China urged Washington on Friday to stop putting “unreasonable pressure” on Chinese companies after U.S. regulators voted to deny market access to China Mobile Ltd and suggested they could revoke approvals given to two other Chinese carriers.
www.cnbc.com

China’s Electric Vehicle Market: Why a Storm of Competition Is Coming
China’s booming electric vehicle industry is headed for some tough price competition followed by a shakeout, according to experts. The competitive landscape for China’s EV market is changing dramatically on several fronts. The phase-out of Chinese government subsidies on EVs is set to gather speed in June before they are eliminated by 2020. Meanwhile, some 500 manufacturers have registered to make EVs in the country. Global automakers such as GM and Volkswagen are also expected to intensify their efforts in China, bringing superior technology and brand recognition.

China’s Electric Vehicle Market: Why a Storm of Competition Is Coming

Belgian brewer AB InBev prepares for Hong Kong IPO in July, plans to raise up to US$5 billion
Anheuser-Busch InBev, the maker of Budweiser beer, on Friday submitted an application to the Hong Kong stock exchange to sell shares in its Asia-Pacific operations Deal could be the biggest Hong Kong IPO from a company without mainland Chinese backing since 2010
www.scmp.com

China’s Electric-Car Mania Draws Parallels to the Dot-Com Bubble
BAIC says shakeout to come by 2021, kill off 80% of players China had about 500 manufacturers of EVs registered in March
www.bloomberg.com

A look behind the exodus of young factory workers in China
But it is inevitable that young workers will continue to leave factories en masse. Since earnings for factory workers are calculated on the basis of their workload, off-peak periods when orders are low tend to see workers hop between factories, as they chase positions which offer the highest pay packages.
news.cgtn.com

China c.bank says ‘rich’ policy tools ensure it can cope with uncertainties
China’s central bank said on Friday it is fully able to cope with external uncertainties, as it has “rich” policy tools and ample policy room to manoeuvre.
www.reuters.com

China bank first-quarter bad loans hit 16-year-high as regulator tightens oversight
The amount of non-performing loans (NPLs) at China’s commercial banks rose to 2.16 trillion yuan ($317.66 billion) at the end of March, the highest since the end of 2003, official data showed on Friday, as Beijing steps up efforts to curb financial risks.
www.journalpioneer.com

Hong Kong’s billionaire class shrinks the most as trade war wrought havoc on global markets, wiping out worldwide fortunes
Hong Kong’s billionaires lost a combined US$56 billion last year, or 17.5 per cent of their estimated fortunes, while their numbers fell to 87, according to Wealth-X 2019 survey Worldwide, the number of billionaires shrank to 2,604 while their combined wealth declined by 7 per cent to US$8.6 trillion
www.scmp.com

The origin of Ali Day
“Adversity is a necessary ingredient in the making of great men and companies,” Alibaba founder and Executive Chairman Jack Ma wrote to staff on April 20, 2005. The letter, which for the first time he defined Alibaba’s company culture and values, announced the launch of Ali Day, an annual celebration of Alibaba employees and their families set on the anniversary of a critical time in Alibaba history. This is how Ali Day came to be:
www.alizila.com

Property bargain hunters take a shine to decades-old subsidised housing flats in Hong Kong
Home Ownership Scheme flats have risen in price by 14.4 per cent in the first quarter, or more than double the rate of the broader market
www.scmp.com

What’s the difference among Hong Kong’s subsidised housing schemes, and who can buy?
Hong Kong’s subsidised housing offers a pathway to homeowner for those who meet maximum income restrictions, and for general buyers
www.scmp.com

Brain drain in China’s rust belt exacerbated by economic decline as talent competition heats up
Weaker economies in Northern provinces lead to talented employees moving to prosperous south, which leads to further economic weakness Housing costs are low in the Northeast, but companies in prosperous southern provinces can offer much higher salaries
www.scmp.com

China should replace Belt and Road bilateral deals with multilateral cooperation
AIIB offers model for drawing countries into sharing authority and easing tensions
asia.nikkei.com

Sinica Podcast: Howard French On China’s Past, Present, And Future
On this week’s show, recorded live in New York on April 3, Kaiser and Jeremy have a wide-ranging chat with former New York Times China correspondent Howard French, now a professor at Columbia University’s School of Journalism. We talk about his book Everything Under the Heavensand China’s ambitions and anxieties in the world today.

Sinica Podcast: Howard French on China’s past, present, and future

Hong Kong’s billionaire class shrinks the most as trade war wrought havoc on global markets, wiping out worldwide fortunes
Hong Kong’s billionaires lost a combined US$56 billion last year, or 17.5 per cent of their estimated fortunes, while their numbers fell to 87, according to Wealth-X 2019 survey Worldwide, the number of billionaires shrank to 2,604 while their combined wealth declined by 7 per cent to US$8.6 trillion
www.scmp.com

What a Heightened Trade War with China Would Do to US Tourism
How will President Trump’s threats to escalate the ongoing US-China trade war impact the US tourism sector, which has seen its growth flatline for the first time in 10 years?

What a Heightened Trade War with China Would Do to US Tourism

Chinese ex-Interpol president Meng Hongwei to face trial in Tianjin
Official accused of taking ‘huge amounts of bribes’, Supreme People’s Procuratorate says on conclusion of its investigation Case passed to the Tianjin No 1 Intermediate People’s Court where Meng will stand trial
www.scmp.com

Chinese truck driver collapses steel bridge and dumps 100-tonne load of concrete pipes into river
Driver who used map app to find construction site sent to crossing for light traffic Villagers say bridge was used by pedestrians and cars only
www.scmp.com

China’s coal capital is dying as local natural resources are exhausted
For more than a century, coal was the centre of life for the residents of Fushun, 50km from the Liaoning provincial capital of Shenyang, earning the city the nickname “capital of coal”.
www.scmp.com

Trudeau talks to Trump about blowback from China and ongoing steel tariffs
Leaders discussed the arbitrary detention of Canadians in China, Prime Minister’s Office says
www.cbc.ca/news/politics/trump-trudeau-call-china-trade-1.5130416

US coastguard to play bigger role in curbing Beijing’s ambitions in the South China Sea
Washington hopes to reduce burden on navy by asking coastguard to step up its activity in the disputed waters Commanders warn that budgetary constraints may limit their effectiveness
www.scmp.com

Xi Jinping tells Chinese police they must maintain social stability ahead of politically sensitive Tiananmen anniversary
Chinese leader hosts first public security conference since 2003 to highlight officers’ role in maintaining social stability Observers suggest event may be way of preparing for possible unrest amid US trade war
www.scmp.com

The Changing Faces of China’s Elite Academicians

After initial controversy over Baidu CEO Robin Li being nominated for China’s most prestigious academic title, Sixth Tone takes a look at how the selection criteria for academicians have evolved over the years.
www.sixthtone.com

In China, Surgeons Are Treating Addiction With Brain Implants
“It controls your happiness, anger, grief and joy.” Deep brain stimulation (DBS), an experimental technology that involves implanting a pacemaker-like device in a patient’s brain to send electrical impulses, is a hotly debated subject in the field of medicine. It’s an inherently risky procedure and the exact effects on the human brain aren’t yet fully understood.
futurism.com

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