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Media Report
January 10 , 2018
  • Reuters：Inside the growing backlash against China
    Reuters comments: "China's rise over the last generation has been impressive, with the country moving from the periphery to the center of the global system, and climbing from impoverished backwater to a position of substantial wealth and power. But the strategic environment in which China's 'lay low' approach to international affairs has helped to make it the world's second-largest economy is changing – and a broader backlash against China is beginning. Under President Xi Jinping, Beijing has been pushing an increasingly aggressive and high-profile foreign policy, attracting the sort of attention that Xi's predecessors had carefully avoided. Now, countries that only a few years ago welcomed Chinese investment and engagement are beginning to mobilize against Chinese influence. The global conditions that favored China's rise began at the end of the Cold War. With the fall of the Soviet Union, the West in general and the United States in particular were eager to bring additional countries into the world order they felt they had created... In the 21st century, Washington has focused most of its strategic attention on Islamist terrorism, the Middle East and Afghanistan, while Europe has been preoccupied with the euro and the growth of the European Union... While this was happening, Beijing played its hand skillfully... Eschewing high-profile diplomacy, China kept its bilateral focus on commerce and investment, with a consistent emphasis on 'win-win' cooperation, which helped win friends... The last five years upended nearly all of this in very short order. Indirect diplomatic suggestions have been swapped for attention-grabbing proposals, strategic ambiguity has been abandoned for international military bases, high-profile drills, showy parades and standoffs with neighboring countries... Where China had chosen for the last generation to cultivate an image of itself that stood for partnership and resistance to "Western imperialism," Xi Jinping has now tossed it out in favor of an image of a proud, swaggering Great Power that evinces little concern for how its actions are perceived abroad."
  • CNBC：China is reportedly thinking of halting US Treasury purchases and that's worrying markets right now
    CNBC reports: "China, the United States' biggest buyer of sovereign bonds, could be slowing down or even halting its purchases, according to a report. Bloomberg News reported Wednesday, citing people familiar with the matter, that officials in Beijing have recommended the Chinese government lowers — or even stops — its buying of U.S. sovereign debt. The report also notes that Chinese officials think U.S. debt is becoming less attractive compared to other assets, adding that trade tensions between the two countries could provide a reason to slow down or halt the purchases. 'If China wasn't the largest foreign holder of US debt this wouldn't be a big deal. But, they are,' said Peter Boockvar, chief investment officer at Bleakley Financial Group. The news is worrying markets. Treasury prices fell, boosting yields. The U.S. dollar also fell against most currencies and gold increased. Dow futures were down more than 110 points... A taper in Chinese purchases would come as the Federal Reserve unwinds the massive balance sheet it amassed following the financial crisis. The Fed is also expected to raise rates three times this year. In 2017, the central bank also hiked rates three times."
  • The Wall Street Journal：With U.S. Aid Cut, Pakistan Drifts Closer to China
    The Wall Street Journal reports: "Senior Pakistani officials warned that the U.S. suspension of security aid announced last week will push their country closer to China, Washington's main rival for influence in Asia, as regional alliances realign. 'Punishing Pakistan pushes it towards America's major adversaries,' Khurram Dastgir-Khan, Pakistan's defense minister, said in an interview. 'By choosing castigation over cooperation, the U.S. has emasculated the war on terror in this region.' China has already invested heavily in a relationship that is redefining the balance of power in Asia, anchored by a $55 billion-plus infrastructure program that aims in part to boost Pakistan's economy—in part as a counterweight against their common competitor, India. The U.S., after decades of partnership with Pakistan, has over recent years tilted toward India, as it seeks to counter Chinese sway across Asia. That longer-term realignment is being accelerated by the Trump administration's penalization of Pakistan and its calls for India to take a bigger role in Afghanistan."
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