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Media Report
December 08 , 2016
  • The Wall Street Journal: Opinions：Trump's Chinese Currency Manipulation
    The Wall Street Journal comments: "Donald Trump says he'll declare soon after he takes office that China is a currency manipulator because it is devaluing the yuan against the dollar. He may want to rethink that. These days China is intervening in the capital markets to prevent the yuan from going into free fall. The currency is now close to an eight-year low, down 12% from its peak in January 2014. One irony is that Mr. Trump is contributing to the yuan's fall with his critical tweets about China, as traders see economic trouble ahead. The Chinese government has tried to slow the yuan's fall by selling dollars—in essence manipulating the currency in the opposite direction of Mr. Trump's accusation. As a result, China's reserves have shrunk to $3.05 trillion in November from $3.99 trillion in June 2014...Hence Beijing's preferred course of action since August 2015 has been to allow market forces to gradually erode the yuan's value...If Mr. Trump wants a new deal with China, our advice is to focus on negotiating a pact for stable exchange rates while aiming to change abusive Chinese practices"
  • The Diplomat：US Sanctions Against China Over the East and South China Seas: A Serious Proposal?
    The Diplomat comments: "Earlier this week, U.S. Senator Marco Rubio (R-FL) introduced a bill in the Senate Foreign Relations committee that proposes punitive sanctions against China over its activities in maritime disputes in the East and South China Seas. The bill, called the 'South China Sea and East China Sea Sanctions Act of 2016'...proffers a plan to sanction Chinese individuals and entities 'that participate in Beijing's illegitimate operations in the South China Sea and East China Sea,' according to a release by Rubio's office...The core purpose of this bill is to constrain Chinese behavior by setting out the conditions under which punitive U.S. sanctions would take effect against Chinese individuals and entities. Even though the July 12 ruling is cited as an important precedent, the overarching objective isn't to uphold UNCLOS — which the U.S. hasn't ratified — or encourage respect for freedom of navigation and overflight among all South China Sea claimants. What's still unclear is the extent to which this bill is intended as muscular legislative messaging or a serious attempt at reforging U.S. policy"
  • Reuters：Chinese trade data shows signs of industrial recovery
    Reuters reports: "China's imports grew at the fastest pace in more than two years in November, fueled by its strong thirst for commodities from coal to iron ore, while exports also rose unexpectedly, reflecting a pick-up in both domestic and global demand. The upbeat data adds to signs of a modest industrial recovery in the world's largest economies, even as China and other Asian exporters brace for a potential trade war once protectionist U.S. President-elect Donald Trump takes office. 'The improvement reflects a strengthening in global demand, with recent business surveys suggesting that developed economies are on track to end the year on a strong note,' Julian Evans-Pritchard, China economist at Singapore-based Capital Economics, said in a note. 'But while global demand has recovered somewhat recently, lower trend growth in many developed and emerging economies means that further upside is probably limited. [Evans-Pritchard warned]"
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