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Media Report
January 12 , 2017
  • The Wall Street Journal：Trump Nominee's Proposal to Block China From Islands Sets Off Alarms
    The Wall Street Journal reports: "A U.S. blockade of Chinese-built islands in the South China Sea risks triggering a dangerous military confrontation and would be too costly to sustain long-term, experts warned Thursday after U.S. President-elect Donald Trump's pick for secretary of state proposed such a move. The proposal by Rex Tillerson in his Senate Foreign Relations Committee confirmation hearing Wednesday is likely to have alarmed Chinese leaders as it went well beyond Mr. Trump's own remarks, as well as the advice from more hawkish elements of the U.S. military, security experts said. China's initial response was low key, with a foreign ministry spokesman declining to comment on the former Exxon Mobil Corp. chief executive's suggestion, while defending Beijing's actions within what it sees as its sovereign territory...Even so, his proposal intensified the uncertainty that has engulfed U.S.-China relations in recent weeks following Mr. Trump's pledges to confront Beijing on trade and territorial issues, including the Chinese island outposts he has described as a 'massive fortress.' Mr. Tillerson's remarks 'sound very alarming,' said Zhu Feng, an expert on the South China Sea at Nanjing University. 'I think he wanted to outline the worst-case scenario. The problem is that it could pull both powers into a vicious cycle.' "
  • BBC：China crackdown sends Bitcoin sliding
    BBC reports: "China's central bank said it wanted to investigate market manipulation, money laundering and unauthorised financing. Chinese exchanges trading in the currency have seen the price of Bitcoin fall more than 16%. The move comes as Beijing's tries to crack down on money flowing out of the country illegally. The weakening yuan has prompted many people to try to buy foreign currencies. The Bitcoin currency had soared to record highs in the first days of 2017, a rise attributed largely to strong demand from China, where most Bitcoin trading takes place. The Chinese central bank said that the 'spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering'. The currency traded at $760 (£624) on Thursday morning, down from more than $915 the previous day. Earlier in January, Bitcoin hit a $1,129 high. The crypto-currency relies on web-based transactions handled across thousands of computers and is used as an anonymous way to move money globally. As a result, some speculate that people in China are using it to circumnavigate strict government rules aimed at preventing money from leaving the country. Currently, there's an annual maximum that people are legally allowed to change into a foreign currency. The value of the yuan fell by about 7% last year. In contrast, Bitcoin's value rose by 125% in 2016, making it the world's best-performing currency when compared with its central bank-issued peers."
  • Quartz：After getting a $40 billion pledge from China, Nigeria ordered Taiwan's unofficial embassy to move out
    Quartz comments: "Nigeria has ordered Taiwan to move its unofficial embassy, a trade mission, out of the capital of Abuja, another sign that an unofficial diplomatic truce between China and Taiwan has ended after eight years. Nigeria said that Taiwan, which Beijing maintains is a renegade province of China, would stop enjoying privileges granted to sovereign countries. Nigeria has never established official diplomatic ties with Taiwan. 'We recognize the People's Republic of China, the one-China Policy,' Nigeria's foreign affairs minister Geoffrey Onyeama said on Jan. 11, after a meeting with China's foreign minister Wang Yi. Onyeama was referring to the doctrine that only one China exists and that is the one represented by the Chinese communist party in Beijing. In response, Taiwan's foreign ministry said it strongly 'condemns the unreasonable, rude, and outrageous act of political hype carried out by the Nigerian government in complying with mainland China's political goals.'  The ministry said it would be sending an envoy to deal with the issue...Nigeria's latest move marks the beginning of another stage in this renewed rivalry: China may no longer be content to just block diplomatic recognition of Taiwan. Beijing wants to limit Taiwan's international space, even through unofficial channels like trade missions."
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