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Media Report
February 24 , 2017
  • The Guardian：China hits back at Donald Trump's 'champion of currency manipulation' jibe
    The Guardian reports: "Beijing has hit back at Donald Trump after the US president risked reigniting a simmering feud with China by accusing it of being the 'grand champion' of currency manipulation...[on] Thursday [we]...saw Trump reiterate his desire for American nuclear supremacy, the US president, who has attacked China over trade, Taiwan, North Korea and the South China Sea, threatened to undermine the tentative rapprochement with a fresh verbal assault. 'I think they're grand champions at manipulation of currency. So I haven't held back. We'll see what happens,' Trump said. The president's comments were reported just hours after the incoming treasury secretary, Steven Mnuchin, made apparently contradictory remarks signalling that the White House had no immediate plans to label China a currency manipulator – something Trump had pledged to do on his first day in office. Beijing rejected Trump's claims on Friday, with a foreign ministry spokesperson, Geng Shuang, claiming his country had 'no intention of deliberately devaluing its currency to gain a trade advantage'. Asked by the Guardian about Trump's claims of currency manipulation, Geng said: 'If you must pin the label of 'grand champion' … on China, then we are a grand champion of economic development. We've made great achievements since the start of economic reform and opening-up, making us the undisputed grand champion.' "
  • Reuters：China say North Korea's nuclear plan is a problem between U.S. and North Korea
    Reuters reports: "China on Friday dismissed renewed pressure from U.S. President Donald Trump over its role in North Korea, saying the crux of the matter was a dispute between Washington and Pyongyang.Trump told Reuters in an interview on Thursday that China could solve the national security challenge posed by North Korea 'very easily if they want to', turning up pressure on Beijing to exert more influence to rein in Pyongyang's increasingly bellicose actions.China has made clear that it opposes North Korea's nuclear and missile programs and has repeatedly called for denuclearization of the Korean peninsula and a return to negotiations between Pyongyang and world powers...'We have said many times already that the crux of the North Korean nuclear issue is the problem between the United States and North Korea,' Chinese Foreign Ministry spokesman Geng Shuang told a daily news briefing, responding to Trump's remarks. 'We hope the relevant parties can shoulder their responsibilities, play the role the should, and together with China play a constructive role for peace and stability on the Korean peninsula and for its denuclearization,' he added."
  • The Wall Street Journal: China Real Time Report：China Dials Back Its Lending to Wobbly Venezuela
    The Wall Street Journal comments: "Beijing continued to lend to Venezuela last year, but not as much, reducing exposure to one of the world's worst-performing economies. Chinese policy banks extended $2.2 billion in credit, compared with $5 billion in 2015 and $4 billion in 2014...Among the factors reducing Beijing's appetite for lending to Caracas were consumer inflation—720% last year and heading for 2,200% this year, the International Monetary Fund estimates—security and political instability, say analysts. 'China is primarily concerned that the Venezuelan opposition, were it to assume control of the government, would be unfriendly to China,' said Margaret Myers, co-author of the report and a director with the Washington-based Inter-American Dialogue. While China is committed to maintaining a presence in Venezuela, the $2.2 billion credit line extended to Caracas last year can 'hardly be considered a lifeline' for Venezuela...China's decision to concentrate its financial firepower on Brazil, Ecuador and Venezuela reflects in part these countries' rich natural resources and their willingness to negotiate the government-to-government deals that Beijing prefers...The three countries 'are in need of Chinese loans and tend to embrace China with relatively open arms,' Ms. Myers said."
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