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Media Report
September 06 , 2017
  • CNBC：China's yuan has fully recovered from 2016 and analysts say there's still room to run
    CNBC reports: "China's yuan has been on a tear all year and has now recouped last year's losses — and analysts say there's still room to run. At its strongest level on Tuesday, the yuan was changing hands at 6.5151 against the U.S. dollar, pushing gains to more than 6 percent this year, according to Reuters data. The currency's appreciation had quickened its pace in August, marking its best month in 2017. The yuan has strengthened much faster than expected, and it's even bucked the trend. While other Asian currencies have been falling in the face of rising political tensions between the U.S. and North Korea, the Chinese yuan has actually continued appreciating. Experts say the central bank has succeeded in demonstrating it can withstand downward pressure on the currency by tightening capital controls and with foreign exchange intervention... China's 19th Party Congress is set to kick off mid-October, and it's the country's most important political event in five years, culminating with a change in the upper echelons of leadership. For Beijing, maintaining stability in its economy and markets is a major priority ahead of the power shuffle, which is why the government has been working overtime to support the yuan."
  • The New York Times：China's Rights Crackdown Is Called 'Most Severe' Since Tiananmen Square
    The New York Times reports: "China is systematically undermining international human rights groups in a bid to silence critics of its crackdown on such rights at home, a watchdog organization said on Tuesday. The group also faulted the United Nations for failing to prevent the effort, and at times being complicit in it. 'China's crackdown on human rights activists is the most severe since the Tiananmen Square democracy movement 25 years ago,' Kenneth Roth, the director of the agency, Human Rights Watch, said in Geneva on Tuesday at the introduction of a report that he described as an international 'wake-up call'... 'The stakes are not simply human rights for the one-sixth of the world's population who live in China,' Mr. Roth added, 'but also the survival and effectiveness of the U.N. human rights system for everyone around the globe.' The report highlights China's measures to prevent activists from leaving the country to attend meetings at the United Nations, its harassment of those who do manage to attend and the risk of reprisals when they return or if they interact with United Nations investigators inside or outside China. The report also noted barriers placed by Chinese officials to visits by United Nations human rights officials. Beijing has not allowed a visit by the agency's High Commissioner for human rights since 2005, and continues to delay 15 requests for visits by special rapporteurs working on political and civil rights issues."
  • Foreign Policy：A Nuclear Slap in China's Face
    Foreign Policy comments: "According to Christine Lu, 'If you understand that dealing with people in China is all about face — giving face, getting face, saving face and not letting that person lose face — then you're all covered.' For China and its president, Xi Jinping, North Korea's latest nuclear test is a slap in the face. Xi styles himself as the strongest Chinese leader since Mao, but Kim Jong Un has humiliated him repeatedly, for example by killing Kim family members who were close to Beijing. In the latest affront, North Korea's sixth, and by far largest, nuclear test upstages a BRICS summit meeting Xi is hosting, and comes just before next month's crucial Chinese Communist Party Congress, where he hopes to consolidate further his hold on the country. The specter of nuclear chaos is hardly consistent with the image of control that he seeks to project. Xi is also attempting to manage China's rise to the top tier of nations, but if the Middle Kingdom cannot keep an erstwhile tributary state in check, how can it credibly challenge great powers? It is often noted that China's first interest with respect to North Korea is stability, and that it is therefore indulgent toward DPRK provocations. The North's barrage of missile tests, and its latest nuclear test, constitute grave threats to stability — which Beijing can no longer ignore."
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