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Media Report
December 02 , 2016
  • Bloomberg：China Seizes Opening in U.S. Backyard as Trump Upends Policy
    Bloomberg reports: "As Donald Trump weighs plans to tear up trade deals and deport illegal migrants from Latin America, Chinese President Xi Jinping is moving swiftly to reset relations in America's backyard. Xi returned from a Latin American swing last week having lavished Ecuador with $10 billion in energy and infrastructure deals, and bestowed Ecuador and Chile with China's highest diplomatic status. He told Peru's Congress relations were 'standing at a new historical starting point.' While attending a summit in Lima with his lame duck U.S. counterpart, Barack Obama, he cast China as the region's most eager trade advocate...Now China finds itself in position to become Latin America's primary growth driver, increasing its chances of surpassing the U.S. as the region's largest trading partner. Trump, meanwhile, is vowing to crack down on immigration from places like Mexico and withdraw the U.S. from the 12-nation Trans-Pacific Partnership free trade pact, which includes Chile, Mexico and Peru."
  • The Wall Street Journal：Study Emphasizes Foreign Investment's Role in Chinese Economy
    The Wall Street Journal comments: "The role of foreign investment in China is greater than Chinese government data suggests, according to one new study. Foreign direct investment, or FDI, in China accounts directly and indirectly for about one-third of China's gross domestic economy and over a quarter of jobs in China, according to 'Developing China: The Remarkable Impact of Foreign Direct Investment,' a study by Michael Enright, a business professor at the University of Hong Kong. More conventional measures put the contribution from foreign companies in single-digit percentages...'Foreign investment has clearly been important here, and there seems to be an increasing tendency to downplay its importance,' [Mr. Enright said in an interview]...China has recently touted its indigenous capabilities and created national strategies such as 'Made In China 2025' aimed at replacing imported goods with local products. Chinese think tanks and academics recently have tended to discount foreign companies' role in the economy, Mr. Enright said."
  • The Wall Street Journal：China Escalates Efforts to Cool Down Financial System
    The Wall Street Journal reports: "China's central bank has stepped up efforts to drain cash from the country's financial system in the past week, as it seeks to curb excessive borrowing and tame frothy markets...At the same time, the PBOC has been guiding major state-owned banks to restrict their short-term lending to other financial institutions, according to market participants. The scarcity of funds and sharp rise in borrowing costs has contributed to a selloff in China's domestic bond markets, which had thrived in recent months on an abundance of cheap funds available to investors. The yield on 10-year Chinese government bonds rose as high as 3.00% on Friday, its highest point since mid-June. Bond yields rise as their prices fall...'It's all part of the government's broader deleveraging campaign that seeks to put China's high debt level under control. The message is clear: the days of easy money are over,' said Suan Teck Kin, an economist at United Overseas Bank in Singapore."
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