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Media Report
September 26 , 2017
  • The Wall Street Journal：If This Is a Trade War, China's Winning
    The Wall Street Journal comments: "Steve Bannon, the recently departed White House chief strategist, asserts that, 'We're at economic war with China.' If that's the case, Beijing seems supremely confident of victory. Eight months into a Trump presidency, the Chinese leadership has offered a few gestures to placate the U.S.—lifting a ban on U.S. beef was one—while pressing its advantages on all fronts in its competition with the West for industrial dominance. Expect one or two more headline-grabbing concessions; Beijing is gearing up for a splashy announcement on electric vehicles, which may help Tesla. In Beijing this week, U.S. Commerce Secretary Wilbur Ross said he hoped for 'very good deliverables,' when Mr. Trump visits in November. But China sees competition as a zero-sum game. It flaunts its indifference to the West's complaints almost gratuitously, as in Shanghai's recent ban on soft-cheese imports, which sent French chefs on a hunt for local brie and Roquefort to fill their dessert trolleys. Foreign businesses are on notice that they are tolerated in China only for as long as they serve Chinese state goals. Even as President Xi Jinping promises to 'push forward market opening faster,' his 'Made in China 2025' plan has the overt aim of displacing foreign manufacturers in critical areas like robotics, medical equipment and driverless vehicles... This is the behavior of a government that senses it has the upper hand."
  • Financial Times：China's state-owned business reform a step in the wrong direction
    Financial Times reports: "When a mix of Chinese privately owned and state-owned companies came together in August to buy shares in China Unicom's $11.7bn offering, Beijing heralded it as another milestone for reform of country's state-owned enterprises. It certainly marks another step in the blurring of the line between private enterprises in China and SOEs. Sadly, the blurring is in the wrong direction. Rather than freeing up state enterprises to act more efficiently, the latest step move by Beijing is all about asking private companies to subsidise them... For fund managers sitting outside China, Beijing's latest scheme is highly perverse. The plan gives investors far more of an incentive to sell the stock of those companies that are more vulnerable to be enlisted to support the likes of China Unicom, and look for those that are less vulnerable... Perhaps the 19th Party Congress will adopt more significant and progressive reforms when it gathers next month. But for now, it seems that China's so-called reform policy is moving in only one direction — backwards."
  • CNBC：Ivanka Trump's China business ties are more secret than ever
    CNBC reports: "It is no secret that the bulk of Ivanka Trump's merchandise comes from China. But just which Chinese companies manufacture and export her handbags, shoes, and clothes is more secret than ever... In the months since she took her White House role, public information about the companies importing Ivanka Trump goods to the U.S. has become harder to find. Information that once routinely appeared in private trade tracking data has vanished, leaving the identities of companies involved in 90 percent of shipments unknown... The deepening secrecy means it's unclear who Ivanka Trump's company is doing business within China, even as she and her husband, Jared Kushner, have emerged as important conduits for top Chinese officials in Washington. The lack of disclosure makes it difficult to understand whether foreign governments could use business ties with her brand to try to influence the White House — and whether her company stands to profit from foreign government subsidies that can destroy American jobs. Such questions are especially pronounced in China, where state-owned and state-subsidized companies dominate large swaths of commercial activity."
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