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Media Report
June 25 , 2017
  • Bloomberg writes that China's transformation from rags to riches isn't over quite yet. Thanks to economic reforms put in place by Deng Xiaoping from the seventies that set off rapid industrialization and urbanization, the China miracle is set to continue with its per capita GDP seen rising to 64th out of 166 countries by 2022, up from being the 133rd-poorest in 1992 — on par with Haiti and with over half its population living on less than $2 a day. The current $16,676 per capita GDP level is already higher than Brazil's when adjusted for purchasing power, according to a Bloomberg analysis of International Monetary Fund data. Importantly, this rise has translated into tangible benefits. The Chinese live six years longer on average and have full access to electricity, less than two percent of the population live under the global poverty line and the average calorie deficit has been cut by more than half, according to World Bank data going back to 1992. Over the next five years, China's per-person economic growth will see it bypassing the likes of Mexico and oil-rich Azerbaijan, putting it just shy of Argentina.

  • John Pomfret of The Washington Post comments: Is President Trump's surprisingly friendly start in relations with China coming to an end? Relations with Beijing appear destined for rocky times unless China begins to modify some of its long-standing policies...On North Korea, over the past week, the Trump administration has put China on notice that its efforts to reign in Kim Jong Un's nuclear ambitions are not enough...This week, the Trump administration also dismissed suggestions by China and South Korea for a freeze on U.S.-South Korea joint military exercises in exchange for a North Korean freeze on its nuclear and missile tests...Problems are also simmering when it comes to Taiwan. Before President Barack Obama left office, the State Department had prepared an arms sales package to the island, but it had yet to be finalized. Wanting to gauge China's response to North Korea and other issues, the Trump administration had delayed approval...In addition, for years, China has been lobbying the United States to agree to a "fourth communique" on U.S.-China relations...Finally, trade and investment issues appear destined to move from the sidelines of the relationship to center stage...Trump's "let's make a deal" approach to China provided Beijing with opportunities for significant wins in its relations with the United States. But Beijing so far appears unwilling to embrace Trump's central argument — that the relationship has been skewed in China's favor for too long and needs to be reworked.
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