Sunday, January 21, 2018

China’s exports tumble again in May as global demand stays weak

May's soggy Chinese trade data offered the latest sign that the world's second-largest economy was still a long way off from full health. Exports in dollar-denominated terms tanked 4.1 percent on-year, more than double April's 1.8 percent fall and slightly worse than estimates for a 3.6 percent decline, Reuters said...

How Beijing Is Responding To A Soaring Dollar, And Why QE In China Is...

While the topic of China's slowing economy has been a prominent fixture over the past week, first with the latest Chinese rate cut last weekend, followed by the announcement that China is once again lowering it target growth rate to 7% for the 2015 and onward, coupled with a...

Taiwan to Apply to Join China-Led Development Bank

Questions over Taiwan’s membership name could complicate any deal; Japan, Canada allow deadline to pass. TAIPEI—Taiwan said it would opt in while Japan and Canada stayed on the sidelines as a deadline passed Tuesday for joining a China-led development bank, though signals from Taiwanese officials that Taipei would set conditions...

A Court You’ve Never Heard of Is About to Raise the Stakes in the...

An international tribunal’s decision will reorder the tense chess game over the South China Sea — and test Washington’s commitment to the Philippines. An obscure court in The Hague will soon issue a ruling likely to inflame tensions in the South China Sea and force Washington to clarify how far...

Britain Joins China’s Asian Infrastructure Investment Bank Despite U.S. Concerns

In Face of Interest, Alliance Sometimes Fragile. Despite concerns voiced by its close ally the United States, Britain, a conventional Atlantic force, will become the first major Western economy to join a China proposed financing mechanism, which will explore investment opportunities in, mainly, Asia. Downing Street believes its decision to apply to...

The dragon’s new teeth

At a meeting of South-East Asian nations in 2010, China's foreign minister Yang Jiechi, facing a barrage of complaints about his country's behaviour in the region, blurted out the sort of thing polite leaders usually prefer to leave unsaid. “China is a big country,” he pointed out, “and other...

With Development Bank, China Challenges Japan’s Role in Asia

Support for the Asian Infrastructure Investment Bank is growing, but Japan remains wary. China’s plans for a new development bank to fund infrastructure in Asia pose a challenge to Japan, which has been a major donor in the region and controls a decades-old institution with a similar remit. Beijing’s efforts to...

Chinese Commodity Crash Continues, But Pigs Are Flying

When it comes to keeping track of China's economy, one can listen, and ignore, the official goalseeked and made-up-on-the-fly data released by the government, or one can simply observe the price dynamics of the all-important Chinese commodities sector (because with fixed investment accounting for well over 50% of GDP,...

Obama sharply criticizes China’s plans for new technology rules

(Reuters) - President Barack Obama on Monday sharply criticized China's plans for new rules on U.S. tech companies, urging Beijing to change the policy if it wants to do business with the United States and saying he had raised it with President Xi Jinping. In an interview with Reuters, Obama...

200th freight-train from China’s Zhengzhou to Germany’s Hamburg departs

ZHENGZHOU, (Xinhua) - Workers load a cargo train bound for Germany's Hamburg at the railway container station in Zhengzhou, capital of central China's Henan Province, Feb. 25, 2016. The 200th freight-train from Zhengzhou to Hamburg had departed on Thursday. The cargo rail service from Zhengzhou to Hamburg began in...

Forecasting the Aftermath of a Ruling on China’s Nine-Dash Line

A tribunal is likely to rule on China's hazy claims to South China Sea sovereignty. How Beijing and others react isn't set in stone. The arbitration tribunal of five impartial experts that has been considering the Philippines suit against China under the U.N. Convention on the Law of the Sea...

China’s debt mountain is growing fast

As China's manufacturing sector stalls, the world's second-largest economy is relying on a more dangerous growth engine: Debt. The Chinese government is encouraging banks to lend and people and businesses to spend. Sound familiar? America did it for years, spurring people to buy homes, cars and just about everything else on...

China Bank Bailout Calls Grow Louder as Markets Seen Vulnerable

Predictions of a Chinese banking system bailout are going mainstream. What was once the fringe view of permabears and short sellers is now increasingly being adopted by economists at some of the world’s biggest banks and brokerages. Nine of 15 respondents in a Bloomberg survey at the end of last month,...

China Quietly Prepares Golden Alternative to Dollar System

China, as current chair of the G-20 group of nations, called on France to organize a very special conference in Paris. The fact such a conference would even take place in an OECD country is a sign of how weakened the hegemony of the US-dominated Dollar System has become. On...

China’s Xi Jinping At Davos, World’s Most Powerful Beggar

Xi Jinping will address the World Economic Forum on Tuesday in Davos, the first time a Chinese leader has done so. Chinese state media tells us he will speak strongly in favor of globalization. That message will be difficult to accept, however, as his country is closing off its market,...

Japanese Deflation Threat Hangs Over China

Political pressure on China not to devalue the yuan could be adding to deflationary pressure, as it once did to Japan. Donald Trump, if elected, says he’ll brand China a currency manipulator and slap steep tariffs on its exports. Such threats have been a staple of American politics for years. What’s...

China economy: Workers of the world’s factory protest against wage cuts and layoffs

In China's industrial heartland, the Communist Party controls the unions – but workers who feel mistreated refuse to be silenced. In the “world’s factory”, the workers are angry and disillusioned. Strikes and other labour protests have spiked across the country as Chinese manufacturing plants lay off workers and reduce wages in...

China to lead way with landmark SDR bond offerings

HONG KONG/SINGAPORE, (IFR) - China is pushing for a landmark offering of bonds denominated in Special Drawing Rights, the International Monetary Fund's synthetic reserve currency, ahead of the renminbi's official entry into the SDR basket in October. The World Bank and China Development Bank are actively preparing to issue SDR...

Xi, Putin meet on promoting SCO’s regional role

TASHKENT, June 23 (Xinhua) -- Chinese President Xi Jinping and his Russian counterpart Vladimir Putin met here Thursday on enhancing bilateral ties and promoting the Shanghai Cooperation Organization (SCO)'s role in regional development and security. The two heads of state met briefly late Thursday ahead of the 16th SCO summit...

Germany Gets 80 Billion-Yuan Investor Quota for China

China awarded Germany a quota of 80 billion yuan ($12.9 billion) that will allow domestic investors to buy securities in China under the Renminbi Qualified Foreign Institutional Investor program. The quota was announced during a visit by Chancellor Angela Merkel to China to meet Premier Li Keqiang and President Xi...

China Devalues Its Currency as Worries Rise About Economic Slowdown

HONG KONG — As China contends with an economic slowdown and a stock market slump, the authorities on Tuesday sharply devalued the country’s currency, the renminbi, a move that could raise geopolitical tensions and weigh on growth elsewhere. The central bank set the official value of the renminbi nearly 2...

Chinese Stocks Just Lost 10 Times Greece’s GDP

"What happens in China will turn out to be far more consequential than any sting that Greece may deliver," says HSBC's Neumann. As Europeans hold their breath awaiting a referendum that will help determine Greece's future in the euro zone, a stock market slump on the other side of the...

India seeks $500 million loan from AIIB for solar power projects

India has set an ambitious target of having 100 GW solar power generation capacity by 2022 under the National Solar Mission. India has sought $500 million from the newly created, China-led Asian Infrastructure Investment Bank (AIIB) for solar power projects. "We have applied for $500 million funding from AIIB. Besides, $1...

Japan tops China in US govt debt holdings

WASHINGTON — There’s a new king of U.S. government debt. Japan edged China in February as the largest foreign holder of U.S. government securities, the Treasury Department reported late Wednesday. The agency released its monthly report on foreign holdings of U.S. government longer-term debt and it showed that Japan in...

Betting against China’s currency

The Chinese economy has experienced a bumpy start in 2016. Trading on the country's stock market had been suspended twice to prevent markets from panicking, and the value of the national currency, the yuan (also called renminbi), dropped to a five-year low against the US dollar. Earlier this week,...

The Silk Railroad of China-Europe Trade

Companies deep in China lean on railroads to ship to Europe. Multinationals operating in China have been setting up factories deep in the interior in search of affordable labor. The drawback: These plants can be more than a thousand kilometers (621 miles) from the coast. For companies exporting to Europe—still...

China’s obsession with IMF’s accounting unit and forging new global financial order reaches new...

Beijing is reviving efforts to broaden use of Special Drawing Rights to achieve longstanding strategic aim of dethroning US dollar in international monetary system. It is just one line in a foreign exchange document, but it signals a renewed seriousness. Last week, China's central bank started publishing the nation’s foreign exchange...

Chinese Stocks in Hong Kong Enter Bull Market; Shanghai Rebounds

China’s Shanghai Composite Index capped its steepest monthly advance in almost a year, while a gauge of Chinese companies trading in Hong Kong entered a bull market amid signs the nation’s economy and currency are stabilizing. The Shanghai Composite rebounded 12 percent in March, led by consumer and technology companies....

Is China on a Path to Debt Ruin?

There's still a chance to avoid the worst. It depends on how bold the government is willing to be. In the first quarter of 2016, Chinese debt rose to 237 percent of GDP — a level comparable to that of the U.S. or the Eurozone and yet much larger than...

Europeans Push Back Against Beijing in the South China Sea

France has thrown its hat into the acrimonious South China Sea debate, calling for more European naval patrols in a contested waterway that is at the center of a growing dispute between China and the United States and its Asian allies. French Defense Minister Jean-Yves Le Drian, speaking Sunday at...

Article Filter Options