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John Ross: China tests its nuclear financial weapon – US markets understood, has Trump?
On Monday 5 August China tested an economic nuclear weapon – it allowed the RMB’s exchange rate to fall. In addition to the drop itself it took it below the psychologically important 7.0 level. Financial markets understood immediately the impact of this drop in the RMB’s exchange rate – the US S&P500 share index fell by 3% in a single day, the worst daily decline of 2019. This sharp fall on US share markets repeated the experience following the RMB’s devaluation in 2015.
2019-08-09 -
US may fall further in ranks of China's trading partners
China's overall foreign trade expanded steadily in the first seven months of the year, with a 4.2 percent year-on-year increase, while trade with the US declined, customs data showed Thursday. Experts noted that the US, which was formerly the No.2 trading partner of China, might fall into fourth spot soon if trade tensions worsen.
2019-08-09 -
He Weiwen: Why the U.S.’s 90 day ultimatum to the WTO will get it nowhere
U.S. President Donald Trump issued a White House Memorandum (hereafter referred as the Memo) on July 26, on reforming the WTO’s developing economy status. The Memo set a 90-day ultimatum to the WTO to change the developing economy status of several WTO members, including China. If the WTO fails to meet the deadline, the U.S. says it will act unilaterally. The Memo, harsh in wording, was in fact neglected in the WTO and refuted immediately by China.
2019-08-09 -
Ding Gang: More than durian to China-Malaysia relations
My recent visit to Malaysia came eight years after my first trip to the country. As the car approached the Petronas Twin Towers, the landmark of Kuala Lumpur, I saw a billboard of China Construction Bank (CCB). On the second day, as I was wandering in the city, I noticed a signpost next to the office building of the operation department of CCB. It showed that the British Malaysian Chamber of Commerce is housed in the same building.
2019-08-08 -
John Ross: Who benefits from Hong Kong protests?
Hong Kong is now in its ninth consecutive week of mass protests. The violent clashes between police and protesters have grabbed global attention.
2019-08-08 -
Hanfu: The controversies behind the new trend
Hanfu, the traditional clothing for Han Chinese, an ethnic group that makes up more than 90 percent of the Chinese population, has seen a resurgence in recent years. Mainly favored by young people, the hanfu isn't only popular, it's gained widespread acceptance as daily attire.The hanfu boom has seen a proliferation in styles. To cater to the diverse tastes of youth, sellers are putting a fancy spin on this ancient attire.
2019-08-08 -
China can withstand a long-lasting trade war
The trade war between China and the United States could go on for another decade and hurt Americans more, experts warned on Monday during a seminar at the Renmin University of China, where 10 Chinese academics gave their analyses on the ongoing dispute. They believe that with strategic thinking and staying power, China can use the situation as an opportunity to upgrade its economy.
2019-08-07 -
Liu Dian: Early Economic Explorations
Since the People’s Republic of China was founded in 1949, the Communist Party of China (CPC) has consistently performed strategic exploration of economics. From 1949 until the end of the first Five-Year Plan period (1953-1957), China completed a series of remarkable economic achievements.
2019-08-07 -
Liu Dian: Early Economic Explorations
Since the People’s Republic of China was founded in 1949, the Communist Party of China (CPC) has consistently performed strategic exploration of economics. From 1949 until the end of the first Five-Year Plan period (1953-1957), China completed a series of remarkable economic achievements.
2019-08-07 -
Liu Dian: Early Economic Explorations
Since the People’s Republic of China was founded in 1949, the Communist Party of China (CPC) has consistently performed strategic exploration of economics. From 1949 until the end of the first Five-Year Plan period (1953-1957), China completed a series of remarkable economic achievements.
2019-08-07 -
Zhao Minghao：U.S.' ideological offensive is not beneficial to both sides
On Monday, China-U.S. trade talks resumed after a three-month suspension in Shanghai. The choice of Shanghai, China's financial hub, as the meeting venue demonstrates China's hope to handle the economic and trade frictions between the two countries in the spirit of "business is business."
2019-08-07 -
William Jones: New US tariffs cannot Trump China
US President Donald Trump's rash measure of imposing a new 10 percent tariff on Chinese goods on top of the 25 percent already levied threatens to hurt the US economy. It may also create a major blowout in international financial markets. In addition, this attempt to play hardball with the Chinese side in these all too important discussions could totally poison the atmosphere for amicable talks with China on any issue in the future.
2019-08-07 -
China’s fixed investment grew 15.6 percent on average
The investment in fixed assets in China grew at an average annual rate of 15.6 percent over the past 70 years, according to the National Bureau of Statistics (NBS) on Tuesday, in a report regarding achievements in economic and social development since the People's Republic of China was founded.
2019-08-06 -
Chen Dingding: Is the Greater Bay Area China’s Future?
In recent decades, in addition to the famous Belt and Road Initiative (BRI), China has aimed to reshape the Pearl River Delta, which includes Hong Kong, Macao, and nine cities in Guangdong province. The goal was to create one economic entity called the Greater Bay Area. According to the Development Outline published by the State Council of China on February 18, 2019, the Greater Bay Area will represent China in industrial competitions worldwide and provide opportunities for internal economic transformations.
2019-08-06 -
William Jones: UN ambassadors contradict media hype on Xinjiang
Ambassadors from 50 countries assigned to the United Nations Office at Geneva wrote a letter to the President of the Human Rights Council and the High Commissioner for Human Rights to voice their support for China's position on issues related to the Xinjiang Uygur Autonomous Region.
2019-08-06 -
Ratcliffe: Potential U.S. spy chief is Trump's next 'yes-man'
You are only as good as the information you're given, but what if that information only consists of what you want to hear? U.S. President Donald Trump continues to abide by this modus operandi with the nomination of Republican Congressman John Ratcliffe as his national intelligence director. On the way out is Dan Coats, who has at times contradicted Trump in his assessment of foreign threats.
2019-08-06 -
Chinese diplomats on social media an inevitable trend
Chinese diplomats abroad are using Twitter to speak for and defend their country. Young generations are more open and more likely to follow this trend . Diplomats speaking on Twitter has made the Western world, which holds China to double standards, uncomfortable, experts said.
2019-08-06 -
Central bank will provide reasonably ample liquidity in H2 amid mounting pressure
The People's Bank of China (PBC), the country's central bank, said it will maintain a prudent monetary policy that's neither too tight nor too loose in the second half of 2019 and tackle mounting external and internal pressure via a multitude of policy tools.
2019-08-06 -
He Weiwen: Washington needs to reconsider its China trade policy
China-U.S. trade consultation will be resumed in Shanghai from Tuesday. The world stock market has already greeted the news, with various kinds of wishes and cautious optimistic anticipations loomed up for an early deal. There are two positive gestures and two harmful threats.
2019-08-05 -
Shenzhen to play key role in Greater Bay Area
Shenzhen, Guangdong Province, will play a bigger role in leading the development of the Guangdong-Hong Kong-Macao Greater Bay Area and influencing other urban areas in China as it aims to become an example of what a city can be in a strong and modern socialist country, analysts said on Sunday.
2019-08-05
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