China's big conglomerates are no longer buying up the world - February 23, 2018

Media Report

February 23 , 2018

CNN：China's big conglomerates are no longer buying up the world
CNN reports: "The party is over for some of China's most acquisitive companies. Three of China's biggest conglomerates -- Dalian Wanda, HNA and Anbang Insurance -- have spent billions of dollars on deals around the world. Now the Chinese government is worried that they risk overextending themselves, and they are coming under pressure to sell assets. The latest reversal came Friday, when Chinese regulators seized control of Anbang and removed its chairman. Analysts say the regulator is likely to offload some of the businesses Anbang snapped up during its global buying spree, such as New York's Waldorf Astoria hotel. Between them, Wanda, HNA and Anbang spent more than $50 billion in 2016 gobbling up assets around the world, according to research firm Dealogic. Last year, their spending plummeted by almost 75%. That drop was echoed by a fall in overseas acquisitions by Chinese companies in general. The Chinese government clamped down on companies borrowing heavily to make aggressive purchases abroad. That's because officials were worried about the flood of money pouring out of the country and the risks of Chinese companies making irrational or risky investments."
The New York Times：U.S. Gun Violence Draws Scorn in China as a Human Rights Issue
The New York Times reports: "A newspaper controlled by the Communist Party of China criticized the United States for its high level of gun violence, calling it hypocritical that a country that condemns others over human rights violations is failing to stem such slaughter at home. The opinion column in The Global Times, which is run by the Communist Party's People's Daily Group, said that after a gunman killed 17 people last week at Marjory Stoneman Douglas High School in Parkland, Fla., the United States should look to China, which has strict controls on guns. "It's inhumane for the U.S., which boasts about its human rights record, to turn a blind eye to gun violence, snub increasing calls for gun control and risk more innocent lives," the piece said... The view that guns are a human rights issue in the United States is regularly stated by official sources in China. China's annual report on human rights in the United States, which it issues in response to the State Department's reports on China's human rights situation, usually mentions gun violence."
The New York Times：Top Chinese Official Plans U.S. Trip to Address Trade Friction
The New York Times reports: "President Xi Jinping of China is sending his top economic policymaker to Washington on Tuesday in a bid to reduce trans-Pacific trade tensions before China's congress convenes for its annual session. The trip by Liu He, who joined the Politburo in October and is widely expected to be named China's vice premier for financial and industrial policy at the congress, comes as Trump administration officials have increased their criticism of Beijing's trade policies in recent weeks. Mr. Liu's trip was described by a person familar with the planning who spoke on condition of anonymity. The Commerce Department declared a week ago that American imports of steel and aluminum from China and other countries were a threat to national security, suggesting several ways for President Trump to tax or otherwise restrict such goods. Mr. Trump has considered imposing a "reciprocal tax" on countries, like China, that impose higher tariffs on their imports of American productsthan the United States levies on theirs. Mr. Liu is expected to lead a sizable delegation to Washington. He would be the second Politburo member to visit the city so far this month. Yang Jiechi, China's top diplomat, arrived earlier this month but made little headway at a time when the mood in Washington has shifted toward strong concern about China's rapid military buildup and record trade surpluses with the United States."

Calendar

2018-02-22 Top US Treasury official slams China's 'non-market behavior'
2018-02-21 A massive US farming industry fears China trade trouble
2018-02-20 China would not be the only country hurt by US steel tariffs
2018-02-14 The director of the FBI says the whole of Chinese society is a threat to the US
2018-02-13 As China Marches Forward on A.I., the White House Is Silent
2018-02-12 Chinese stealth fighters are combat-ready, Beijing says
2018-02-11 China pledges 'employment first' policies to create millions of jobs
2018-02-09 China draws up trade retaliation options against US
2018-02-08 China's imports surge 37% in January, exports jump 11%
2018-02-07 The Rise of China and the Fall of the ‘Free Trade’ Myth

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