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Media Report
July 28 , 2017
  • Reuters：Value of U.S. deals in China sinks on rising trade tensions
    Reuters reports: "U.S. corporate acquisitions in China collapsed to their lowest level for 14 years in the first half of this year, as trade tensions between the two countries and uncertainty about Chinese government regulations took a toll on deal making. The value of mergers and acquisitions involving American companies in China dropped 32 percent to just $523 million in the six months to June 30 from $771 million in the same period last year, and were down 87 percent from $4 billion in the first six months of 2015, according to Thomson Reuters data. Bankers and lawyers involved in deal making say that increasing signs of trade friction between Washington and Beijing are acting as a deterrent. The tensions were reflected at a meeting earlier this month when officials from the two countries failed to agree on major new steps to reduce the U.S. trade deficit with China. American companies do not want to make acquisitions in an environment where they could get caught in crossfire between the two governments, these sources said. That could happen if, for example, U.S. President Donald Trump's administration imposed punitive tariffs on Chinese steel and other products and Beijing retaliated with its own action against American goods or entities."
  • The Hill：Trump's China sanctions spell trouble for global businesses
    The Hill comments: "U.S. sanctions on North Korea have been in effect for decades and as a result, most American business leaders today have had to pay little or no attention to their impact or implications. In 2008, the North Korea sanctions program intensified and grew. Now, the Trump administration appears to be further expanding prohibitions by specifically targeting Chinese firms. These conditions, called 'secondary sanctions,' mean U.S. businesses could experience the economic effects of our strained relationship with North Korea for the first time... The practical intent of this is to require U.S. parties to know who their foreign partners are and if they have some kind of business relationship with North Korea. Recently, the U.S. government has specifically targeted Chinese entities linked to North Korean financial activities... Consequently, non-U.S. companies doing business with North Korea were forced to evaluate their customers and business relationships — which any insider will tell you specifically targeted Chinese companies, as China controls approximately 90 percent of all trade with North Korea. As the Trump administration further tightens the sanctions program, particular with secondary sanctions, U.S. companies will need to begin evaluating whether their Chinese partners are in business with North Korea and to what extent.
  • Bloomberg：China's Xi Promises to Revitalize Party Ideology as Power Grows
    Bloomberg comments: "Chinese president Xi Jinping has promised to 'give a new summation' of ruling Communist Party theories, a fresh sign of his efforts to guide ideology ahead of a leadership reshuffle. In a speech on Thursday at a workshop with senior party officials, Xi described China's development as being at a 'new historical starting point' and urged the officials to continue a tradition of ideological reinvention. That has raised expectations he will seek to write his political theory into the party charter at the twice-a-decade conclave, according to observers such as Beijing-based historian Zhang Lifan. It would build on his elevated designation last October as the party's 'core' leader. The 19th Party Congress is expected to be held in the fourth quarter and will mark the halfway point for Xi's presumed term in power. Based on recent retirement conventions, he and Premier Li Keqiang are the only ones on the party's top seven-member Standing Committee expected to stay on. Xi has been amassing power ahead of the reshuffle. His designation as 'core' leader is a significant semantic change in China's elite politics, which has for more than three decades stressed collective leadership."
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