China Press Review – October 18, 2018

Press review

China, Belgium agree to unleash complementary advantages, tap more cooperation potentials
Chinese Premier Li Keqiang (L) and Belgian Prime Minister Charles Michel meet the press in Brussels,
China and Belgium on Wednesday agreed to keep unleashing complementary advantages, tapping more cooperation potentials, and yielding greater development achievements in pragmatic cooperation.
www.xinhuanet.com

Beijing must win the hearts of US businesspeople amid trade war, China policy adviser says
‘Trump would love to see [China] make trouble for US firms,’ economist Fan Gang, an ex-member of the central bank’s monetary policy committee, said at Tsinghua University
www.scmp.com

US shies away from calling China a currency manipulator
The United States has refrained from labelling China a “currency manipulator” in a move which may help defuse escalating tension over trade between the two countries.
www.bbc.com

Trump Embarks on Bilateral Trade Talks to Pressure China
Fresh off securing trade agreements with South Korea, Canada and Mexico, President Trump is embarking on a new plan: refashioning the Trans-Pacific Partnership to his liking through a flurry of bilateral trade deals.

China’s hidden $6 trillion debt pile is an ‘iceberg’ posing a ‘titanic risk’
Off-balance-sheet debt in Chinese local governments has ballooned in recent years and could now be worth as much as 40 trillion yuan ($6 trillion). According to analysts at S&P Global Ratings, this represents a “debt iceberg with titanic credit risks.” Rising debt levels in China are a major concern for the global economy, with fears that a wave of defaults could be imminent.
www.businessinsider.fr/us/china-debt-crisis-6-trillion-off-balance-sheet-debt-poses-titanic-risk-2018-10

China economic health check may show slowing GDP growth in wake of trade war
With the country’s growth engines of investment, consumer spending and exports close to peak capacity, tariffs pose a big challenge for the Chinese leadership
www.scmp.com

Opinion: The truth about trade with China
In these days of social media and the 24-hour news cycle, messaging on trade is often polluted with hyperbole and statements lacking facts and accurate data. The current trade dispute with China, in particular, is wrought with misconceptions.
eu.detroitnews.com

Trade war: Chinese exporters fight to save profit margins at country’s biggest trade fair
Some are dropping prices to share burden of tariffs with US buyers, while government advises diversifying by selling to Asia or Africa
www.scmp.com

Will Trump’s tariffs on Chinese imports make the next Christmas more expensive for Americans?
The weather is overcast on the second day of the 124th session of the Canton Fair in Guangzhou -perhaps fitting for the massive trade show for Chinese exporters as global trade wars threaten the economic outlook
www.scmp.com

Trade war with China represents persisting US concerns
Manoj Kumar MishraBy MANOJ KUMAR MISHRA OCTOBER 18, 2018 5:14 PM (UTC+8) 0 0
The downturn in US-China relations and the continuing trade war between the two powers are the results of an American attempt at setting right the trade imbalance between the two. The alarming speed of Beijing’s rise both on the economic and military fronts witnessed a steep increase in speculation among American leaders and scholars about Chinese intentions.
www.atimes.com

Costs of a US-China break-up are too high for either to bear
Earl Carr and Li Qingsi say constructive engagement between the two nations goes back decades, and any damage to bilateral ties will hurt the global economy. Fundamental differences aside, the two must try to find common ground on core strategic interests
www.scmp.com

For the first time in a decade, US is crowned ‘world’s most competitive economy’. How did China do?
For the first time in a decade, the United States was crowned the world’s most competitive economy by the organisation behind the Davos economic forum. The World Economic Forum on Wednesday released its latest global competitiveness report, which looked at 140 economies based on 98 wide-ranging social, political and economic factors.
www.scmp.com

China Stock Market Rocked by Forced Sellers; Yuan Hits Fresh Low
‘Extreme pessimism’ is pervading the market, fund manager says Shanghai Composite Index has dropped about 30% since January
www.bloomberg.com

China’s stocks are plunging again — falling 3% to near 4-year lows as trade jitters return (SHCOMP)
Chinese stocks fall to their lowest level since November 2014 as market turmoil returns. At the close of play in China, the Shanghai Composite — the country’s benchmark index — fell by more than 2.9%. The sell-off doesn’t appear to have a single driver, with trade war fears, slowing growth, and the impact of forced selling all being blamed.
markets.businessinsider.com

China’s yuan sinks further after US currency report
China’s politically sensitive yuan has sunk to a 22-month low against the dollar after the U.S. Treasury declined to label Beijing a currency manipulator amid a mounting tariff battle.
www.sfgate.com

Will Xi’s China Dream lead to Thucydides Trap?
Since the end of the Cold War, we have lived in an era almost devoid of genuine great-power competition, but that seems to be coming to an end. Pundits say the 21st century will be marked by conflict or cooperation between the two most prosperous and powerful countries on the planet. China-US relations have been on a path of strategic rivalry in recent years and that has led to a trade war. Each side views the other with growing suspicion and concern.
www.atimes.com

China’s central bank adds local government bonds into calculation for social financing
People’s Bank of China widens scope of indicator to reflect sharp rise in issuance of debt instruments in recent months
www.scmp.com

China overseas investment grows
China’s non-financial outbound direct investment totaled US$82.02 billion in the first nine months of this year, up 5.1 percent from a year earlier, official data showed Wednesday. China directly invested in 4,597 overseas companies in 155 countries and regions throughout the world in the first nine months, according to the Ministry of Commerce.
www.shine.cn/biz/economy/1810183655/

China ‘regrets’ US leaving postal union amid trade dispute
China says it regrets Washington’s decision to leave the United Nations treaty that regulates international postage amid a worsening trade dispute between the world’s top two economies.
www.waff.com

China’s FDI exceeds US$82 bn in first nine months: ministry
Chinese enterprises have increased their investment by US$10.78 billion along ‘Belt and Road’ countries despite tightened supervision
www.atimes.com

China’s cheap shipping advantage explained
Trump administration claims global postal alliance is flawed but what is the Universal Postal Union and why does it matter?
www.scmp.com

JD.Com Opens Up Its Logistics Network To Users
Chinese e-commerce firm JD.com is opening its logistics network up to consumers to send parcels around the country, the company said today in an announcement.

JD.Com Opens Up Its Logistics Network To Users

A Slowing Chinese Economy Means More Instability
With economic headwinds, protests become more common. Even China is no exception.
thediplomat.com

Europe’s Biggest Luxury Brands Are Nervous About China
After a lucrative yearslong shopping spree, Chinese shoppers may have to pull back.
www.bloomberg.com

‘Developing nation’ China seeks $260m climate handout
China is seeking $US180m ($260m) to help with climate mitigation projects in Shandong province, one of China’s most heavily industrialised centres. If approved, the money would be paid to the central government. China’s ¬application raises old tensions about which countries should be considered as developing. It has said previously it would be a contributor to climate finance for developing nations, not a recipient
www.theaustralian.com

CHINA’S INVESTMENT COMPLEX: A NEW WAVE OF COLONIALISM?
Since the 2000s, the China has created more than 3,000 infrastructure projects in Africa and loaned more than 130 billion USD to the continent.

China’s Investment Complex: A New Wave of Colonialism?

China Gains Control of Israeli Ports
Is Israel helping forge the sabre of its own demise?
watchjerusalem.co.il/455-china-gains-control-of-israeli-ports

Forum on China¬–¬¬Africa Cooperation meets the Belt and Road
The BRI seems to be China’s guiding policy for the FOCAC, but at this stage this is little more than China putting old wine in new bottles.

Forum on China­–­­Africa Cooperation meets the Belt and Road

Japan offers ‘quality’ alternative to China’s BRI
Tokyo is reasserting its role in Southeast Asia infrastructure-building as China’s competing offerings are increasingly viewed as debt traps
www.atimes.com

US-China trade war saps confidence among Hong Kong businesses
Sentiment among Hong Kong small to medium-sized businesses has dropped to its lowest levels since the first quarter of 2017, according to new survey
www.scmp.com

President Xi Jinping expected to attend opening ceremony of Hong Kong-Zhuhai-Macau bridge – but not to visit Hong Kong
Central government’s liaison office in Hong Kong has announced event will take place in Zhuhai on October 23
www.scmp.com

China Stops Buying U.S. Oil, Two Months After Record Total
A response to the full-on trade war between the United States and China, it is a both a stunning turn-around, coming just two months after record exports there, and a stark reminder of the difference between what it means to live in a free country and one that is not.
www.forbes.com

The geopolitics of China’s tax reforms
The continued legitimacy of the Chinese government under President Xi Jinping, as it was with former president Hu Jintao, depends on two main pillars: improvements in people’s material wellbeing and a strong sense of national pride. The notion that the government will improve the Chinese people’s quality of life in exchange for a broad acceptance of political direction is at the core of the unwritten social contract between Chinese people and the state
www.lowyinstitute.org

Fashion retailer New Look to exit China, close 120 stores
– British fashion group New Look is to exit China and will close its remaining 120 stores there by the end of the year, it said on Thursday. New Look, which is owned by South African investment firm Brait, trades as New Look Commerce (Shanghai) Co. Limited in China. It said the company’s Shanghai head office will close in the new year.
www.euronews.com

China blacklists former AC Milan owner over unpaid debt
The former Chinese owner of AC Milan has been added to China’s blacklist of untrustworthy individuals over millions of dollars in unpaid debt, according to a local court, which ordered that his passport be confiscated.

China blacklists former AC Milan owner over unpaid debt

China plans to ‘launch its own artificial moon’ by 2020
City of Chengdu unveils plans to replace streetlights with a satellite that boosts glow of real moon
www.independent.co.uk/news/world/asia/china-moon-launch-artificial-satellite-chengdu-light-a8589241.html

 

 

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