Tuesday, July 17, 2018

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...

AIIB outlines 5 core areas for investment

The China-led Asian Infrastructure Investment Bank will invest in five major areas during its initial stages-energy, transportation, rural development, urban development and logistics-a top official said on Thursday. The bank will later expand the investment to other areas such as education and healthcare to promote social development, said Chen Huan,...

War With China? Effects Of A U.S. Blockade In The South China Sea

“Chinese and Western experts” say a blockade by the U.S. in the South China Sea of China's artificial islands would be an “act of war” according to breathless Wall Street Journal reporters. The New York Times says unnamed “American Navy experts” are calling a blockade “tantamount to war”. Association of...

Silk Route still has obstacles in Kazakhstan’s red tape

Landlocked nation's bid to become alternative to sea route between China and Europe is hobbled by costly and time-wasting red tape. Kazakhstan wants to establish itself as a major trading hub between China and Europe and get a share of a US$600 billion market, but it will have to drop...

Has China lost control of its currency?

Markets have taken fright at the prospect a new round of currency wars. But the Chinese say they want a "stable" exchange rate. So what's really going on? What's happened to the renminbi? Since the summer, investors have been keeping an uneasy eye on the value of the Chinese currency. In August,...

Chinese fund eyes Glencore’s gold mine in Kazakhstan

China's Silk Road Fund, a US$40 billion pool set up to invest along the ancient trade routes with Central Asia, is discussing a joint bid for Glencore Plc’s gold mine in Kazakhstan. The fund is partnering with China National Gold Group Corp on a possible joint offer for the Vasilkovskoye...

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...

The Belt and Road Initiative

The Belt and Road Initiative refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road, a significant development strategy launched by the Chinese government with the intention of promoting economic cooperation among countries along the proposed Belt and Road routes. The Initiative has been designed to...

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...

Australia Caught in Middle of US-China Power Tussle

Canberra could struggle to balance its interests as tensions rise over the AIIB and TPP. Tensions between the United States and China over the Chinese-led Asian Infrastructure Investment Bank (AIIB) are the next embodiment of a hard and soft power battle for economic and political dominance in the Asia-Pacific, and...

China and Kazakhstan open new second rail link – renaissance of ancient Silk Road...

China and Kazakhstan have established new second cross-border rail link - important implication for business, commerce, economic development, tourism and business travel between China, Kazakhstan, Central Asia and Europe. New rail link at Korgas Pass China and Kazakhstan opened a new second cross-border rail link at Korgas Pass, Khorgos a few...

China will need to cut 3.5 million jobs across six core industries as tonic...

A 10 per cent capacity reduction is needed in six main industries, according to new research. China's excess capacity problem is daunting by any yardstick. The nation’s ability to produce manufactured goods outstrips not only the demands of the mainland economy, but that of the entire global economy, as indicated by...

China’s Great Wall Motor to Invest in Russia Plant

SHANGHAI—Chinese auto maker Great Wall Motor Co. is planning to build a car factory in Russia even as the auto maker faces setbacks building its brand at home and abroad. In a statement to the Hong Kong exchange Monday, the company said it planned to invest an initial 2.1 billion...

China: Global Political Shift

I have been to China over the years more than a dozen times. I have spoken with people at all levels of policy-making, and one thing I have come to realize is that when Beijing makes a major policy change, they make it carefully and with great deliberation. And...

China’s Xi to promote globalization at Davos, not war and poverty

China's President Xi Jinping will promote "inclusive globalization" at this month's World Economic Forum (WEF) in Davos and will warn that populist approaches can lead to "war and poverty", Chinese officials said on Wednesday. This year's forum, from Jan. 17-20, is expected to be dominated by discussion of a surge...

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....

China to ease commercial banks’ bad debt burden via equity swaps

China's central bank is preparing regulations that would allow commercial lenders to swap non-performing loans of companies for stakes in those firms, two people with direct knowledge of the new policy told Reuters. The new rules would reduce commercial banks' non-performing loan (NPL) ratios, and free up cash for fresh...

China’s Africa Dream Isn’t Dead

Despite falling investment in the continent, Chinese entrepreneurs, investors, and wanderers are digging in. NAIROBI, KENYA — Jeff Kiarie was guarding a Chinese mine back in early 2014 near Arusha, Tanzania when Chinese managers and investors picked up and left, leaving their excavators, tractors, and wheel loaders behind, offering no...

China, Vietnam pledge peaceful resolution for sea dispute

(Reuters) - China and Vietnam have pledged to look for a peaceful resolution to their dispute in the South China Sea via talks, following a meeting between China's president and the head of Vietnam's Communist Party, state news agency Xinhua said on Wednesday. A joint communique carried by Xinhua said...

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...

Canada reveals it’s actively considering joining China-led Asian bank AIIB, despite U.S. reservations

OTTAWA - Canada broke its silence on Tuesday over whether it would take part in the China-led Asian Infrastructure Investment Bank, signalling it was actively considering joining the institution despite U.S. and Japanese reservations. A senior Canadian finance official revealed the stance to reporters ahead of meetings in Washington of...

Iran approved to join China-backed infrastructure bank

Shanghai (AFP) - Iran has been approved as a founding member of the Beijing-backed Asian Infrastructure Bank (AIIB), China's finance ministry said Tuesday, just days after Tehran sealed a historic framework agreement on its nuclear programme. Tehran's application was backed by other founding members on Friday, China's Ministry of Finance...

London Wants to Become the Center of Chinese Currency Trading

Three years ago, Chinese officials said U.K. Prime Minister David Cameron had “seriously damaged” relations by meeting with the Dalai Lama, the exiled Tibetan leader. As planned talks between the two countries were canceled or failed to take place, worries emerged that Britain would miss out on building deeper...

Venezuela receives $5 Billion funding from China

Cash-strapped Venezuela has received $5 billion in financing from China, President Nicolas Maduro announced Sunday as his country struggles with an economic crisis. "We just received $5 billion more in financing for development," Maduro said in a radio and television address. He did not provide further details on the loan from...

The Geopolitics of American Global Decline

Washington Versus China in the Twenty-First Century. For even the greatest of empires, geography is often destiny. You wouldn’t know it in Washington, though. America's political, national security, and foreign policy elites continue to ignore the basics of geopolitics that have shaped the fate of world empires for the past...

The China Syndrome: The Coming Global Financial Meltdown

All the phantom wealth piled up in China's boost phase is now melting down, and the China Syndrome will trigger a meltdown in global phantom assets. The 1979 film The China Syndrome took its name from the darkly humorous notion that a nuclear reactor meltdown in the U.S. would burn...

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 is spending nearly $1 trillion to rebuild the Silk Road

Two weeks ago, a 32-container train from Wuyi, China arrived in Tehran, Iran. You might think the arrival of cargo by rail would be no big deal, but in this case you’d be wrong. This was the first journey of its kind between the two cities, and it shortened...

Chinese New Year Not So Happy For China’s Growing Number Of Unpaid Workers

SHANGHAI — On a side street in China's biggest metropolis, workers in white T-shirts painted with red slogans stand on the sidewalk outside a private club, accompanied by a pair of uniformed policemen talking anxiously into their radios. The slogans call for their employer, which has closed down, to pay them the back salary they are...

China’s yuan hits 2016 high on strong fixing, global US dollar weakness

SHANGHAI (REUTERS) - China's onshore yuan on Friday (March 11) hit its strongest level against the US dollar in 2016, buoyed by the central bank's firmest midpoint this year and the greenback's slide after the European Central Bank suggested it was done cutting rates for now. Offshore yuan strengthened 0.3...

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