China Press Review – October 4, 2019

Press review

Why the United States and China need to end the trade war
The trade war between the United States and China has already lasted for more than a year leading many to think that both countries have entered into a prolonged and costly battle over trade. Yet, there are compelling reasons that call for the United States and China to end the trade war as soon as possible.

Why the United States and China need to end the trade war

Why China will weather the trade war
Trade war or not, the China growth story remains intact and that the trend for less restrictive government policy looks set to stay. As the Chinese economy moves into a period of sustained quality growth, we see potential for higher returns on equity and increased revenue growth as capital expenditure requirements ease. This should lead to improved cash flow and dividends and plenty of medium- to long-term opportunities.
www.investmentweek.co.uk/opinion/4005608/china-weather-trade-war

US-China trade war could slow global manufacturing activity into start of 2020, economists warn
China’s manufacturing activity contracted for a fifth straight month in September, while Germany and the United States dropped to their lowest levels since June 2009 World Trade Organisation also slashed its global trade growth forecast for 2019 to 1.2 per cent, more than half of its projection of 2.6 per cent earlier in April
www.scmp.com

5 big risks that the world’s fragile economy doesn’t need right now
China has fueled its economy by loading up on debt and the numbers have gotten breathtakingly large. The Washington-based Institute of International Finance (IIF) has estimated that in the first quarter of 2019, the total amount of corporate, household and government debt in China hit an eye-watering 303% of GDP. The report said Beijing’s attempt to rein in non-financial corporate debt had been rather defeated by borrowing in other sectors which had brought China’s total debt pile to more than $40 trillion.
www.cnbc.com

China’s intellectual property revolution
China saw an amazing transformation from a copycat nation, which was a byword for piracy, into a powerhouse of innovation
www.downtoearth.org

Investments In China Will Grow Despite Global Economic Slowdown
Economic experts forecasted that China will retain investment interest in the coming months despite increasing fears for the global economy as its solid domestic market supports business confidence. According to China Daily, President of Cargill Asia Pacific, Robert Aspell, noted that the private agricultural firm still believes in China’s economy. Aspell said the U.S.-based company is “very, very confident about the direction where China is going.”
en.businesstimes.cn/articles/119735/20191004/investments-in-china-will-grow-despite-global-economic-slowdown.htm

Financial markets are a key source of America’s prosperity, so leave them out of the US-China trade war
The clamour to place greater restrictions on Chinese investment is growing on Capitol Hill. However, such a move would be deeply irresponsible, not least because it would threaten both the US economy and its global influence
www.scmp.com

Huawei has a plan to create a telecoms rival in the US, but Washington won’t be buying it
The offer to license 5G technology to an American company does not address Washington’s concerns, analysts say Telecommunications have increasingly been seen as a strategic national security domain and a geopolitical issue
www.scmp.com

Samsung Moves Mobile Phone Production Out of China
The decision comes amid falling sales and mounting competition.
www.sixthtone.com

The Chinese Sneakerheads Trading Shoes Like Stocks
All that is solid is melting into Airs, as China’s market for rare sneakers threatens to turn into a bubble.
www.sixthtone.com

Baidu Shuts Down Its Desktop Browser After Eight Years
The search giant remains heavily reliant on advertising revenue as it tries to find its footing in the mobile computing era.
www.sixthtone.com

Hong Kong’s port is failing to ready itself for LNG-fuelled cargo ships as rival Singapore races ahead, say analysts
Hong Kong’s failure to prepare infrastructure for refuelling container ships that run on eco-friendly liquefied natural gas will make its already struggling port even less competitive, analysts warn Rival Singapore is well ahead, having already ordered two LNG bunkering (refuelling) vessels
www.scmp.com

Hong Kong-listed mainland Chinese companies seen most at risk if US imposes curbs on capital flows into China
While the risk of Washington imposing curbs on US capital flows into Chinese equities remains remote, Societe Generale estimates that 10 stocks in Hong Kong could be exposed the most For US investors to fully divest their equity holdings, it would take them 180 days on Hong Kong exchange and 195 days in the US markets, according to Goldman Sachs estimates
www.scmp.com

China’s Digilog reaches final round in agritech hackathon
What began as a 24-hour hackathon involving 21 international teams and more than 200 participants from 26 countries has narrowed to five groups competing to most efficiently leverage artificial intelligence to remotely grow a crop of tomatoes in the Dutch town of Bleiswijk, agricultural media outlet Fruitnet reported.

China’s Digilog reaches final round in agritech hackathon

The Chinese social media stars unknowingly going viral in the West
“It’s not that Chinese internet culture is so different that no one would understand. It’s that it was just not visible for most international users,

The Chinese social media stars unknowingly going viral in the West

What next with China as a superpower?
The spectacular celebrations to mark the People’s Republic of China’s 70th anniversary of its founding were the culmination of a sweeping ideological struggle over the past century between two competing systems of socio-economic and political organisation. Under the stewardship of the Chinese Communist Party (CCP) from 1921, China has now arrived as a 21st century superpower with an unprecedented hybrid of totalitarian control and a capitalist market economy, the successor state to the old Soviet Union whose demise nearly 30 years ago was attributable to its rigid collectivism over market capitalism
www.bangkokpost.com

What China Is Really Up To In Africa
However, there is a common misconception that all Chinese projects in Africa have the backing of Beijing. More often than not, Chinese SOEs are operating in Africa on purely for-profit ventures that don’t have the ambitions of their government in mind. However, it can be difficult to separate China’s commercial intentions in Africa from the strategic, as, in many cases, the two inevitably overlap. The internationalization of Chinese construction firms and IT companies as well as the building of infrastructure to better extract and export African resources, are key concerns for Beijing. So while the infrastructure being built on the ground may not necessarily be orchestrated by Beijing it does ultimately play into China’s broader geo-economic interests.
www.forbes.com

EU-Japan take on China’s BRI with own Silk Road
The EU and Japan have signed an infrastructure deal to boost connectivity between Europe and Asia. The pact is being described as the EU and Japan’s riposte to China’s Belt and Road Initiative (BRI).
www.dw.com

China grows to be a powerful economy in the world as it celebrates its 70 th anniversary: Should the neighboring countries learn something?
China holds a significant position in global politics and over 700 million Chinese people have been pulled out from the depths of utter poverty during just 40 years. Isn’t this alone a historic feat?

China grows to be a powerful economy in the world as it celebrates its 70 th anniversary: Should the neighboring countries learn something?

The impact of a Trump impeachment would be just too unpredictable for confused markets to cheer it on
Hope that the impeachment inquiry may spur Trump to conclude a trade truce with China remains just that – mere hope. Too many variables are at play, including Beijing’s reaction to a weakened Trump presidency. Truth be told, markets have not done too badly under Trump
www.scmp.com

Hong Kong Versus Shenzhen: Two Competing Visions of China’s Future
One system favors economic growth at all costs, while the other yearns for freedom.
www.bloomberg.com

Billionaire Li Ka-shing Donates $128 Million As Protests Rock Hong Kong’s Economy
Billionaire Li Ka-shing will donate $128 million (HK$1 billion) to “ease the pressure” on small and medium sized businesses in Hong Kong after pro-democracy protests rocked the city’s economy.
www.forbes.com

Hong Kong bans face masks after months of protests
Hong Kong’s chief executive Carrie Lam has used a colonial-era emergency law to ban face masks after months of angry protests.
www.bbc.com

Donald Trump calls for China to investigate US political foe Joe Biden amid impeachment storm
US president says he has not asked Xi Jinping to do so, but it’s ‘certainly something we could start thinking about’ Trump discussed Biden on call with Xi and assured him that Hong Kong unrest would not come up during trade talks, according to CNN
www.scmp.com

How China is drawing on its own history to champion globalisation, peace and prosperity
Peace makes development possible and decent lives help peace endure. China, having forged its own path, makes it clear in its new white paper that, unlike the US, it champions globalisation, peace and better lives for everyone
www.scmp.com

Why China is the worst country Trump could ask for a favor
That was the reaction of a Chinese diplomat to the revelation that United States President Donald Trump had urged Beijing to investigate Democratic presidential candidate Joe Biden and his son Hunter for their business dealings in China. But the diplomat wasn’t simply expressing a desire to avoid what is turning into an increasingly messy scandal that could dominate the run-up to the 2020 election — but a foundational tenet of Chinese foreign policy. Since the 1950s, China has operated on the principle of non-interference in other country’s internal affairs. Indeed, many of Beijing’s grievances with other countries arise from the perception that they are doing just that, stirring up dissent and encouraging protests or separatism.
edition.cnn.com

Vietnam accuses Chinese ships of ramping up South China Sea tensions
Hanoi says Beijing’s survey and coastguard vessels are widening their activities in disputed, energy-rich waters
www.scmp.com

In Ways of Heaven, Roel Sterckx unpacks ‘Chinese thought’ for the Western reader
The Joseph Needham Professor of Chinese History, Science and Civilisation at the University of Cambridge offers insight into the Chinese psyche Philosophy in the Chinese sense rarely indulged in debate for its own sake, instead dealing with the practical
www.scmp.com

6 Reasons to Visit China
At first glance, China seems like home to bamboo forests, vibrant cities, and centuries of ancient history, but there’s more to the country than meets the eye. There are mountainous valleys, shimmering lakes, lively shopping streets, and tantalizing food markets. There is more than enough to do and see to ensure a memorable trip in China. But if you need more convincing, here are 6 reasons you should not miss out on a visit to China.

6 Reasons to Visit China

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Alain Gillard
Information Officer
Awex
Service Asie Pacifique
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a.gillard@awex.be
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