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Media Report
August 29 , 2018
  • The New York Times reports: "In April, on the 69th anniversary of the founding of China's Navy, the country's first domestically built aircraft carrier stirred from its berth in the port city of Dalian on the Bohai Sea, tethered to tugboats for a test of its seaworthiness. "China's first homegrown aircraft carrier just moved a bit, and the United States, Japan and India squirmed," a military news website crowed, referring to the three nations China views as its main rivals. Not long ago, such boasts would have been dismissed as the bravado of a second-string military. No longer. A modernization program focused on naval and missile forces has shifted the balance of power in the Pacific in ways the United States and its allies are only beginning to digest."
  • CNBC reports: "The Chinese government will continue implementing measures to cushion the impact from the country's ongoing trade war with the U.S., a top China economist said on Wednesday. U.S. tariffs appear to be affecting the Chinese economy already as the latest manufacturing data show slowing export orders. The trade war's disruption to supply chains could cut 0.7 percentage points from China's growth, said Robin Xing, chief China economist at Morgan Stanley."
  • The Wall Street Journal reports: "Asian markets were mixed Wednesday. Japan's Nikkei 225 and Taiwan's Taiex rose by 0.7% and 0.9% apiece, while China's Shanghai Composite Index dipped 0.4%. Results from three of China's biggest four banks suggest its megalenders are holding up well, despite Beijing's efforts to slow the buildup of leverage, and signs of economic strain. On Wednesday, Agricultural Bank of China rose 1.3%, while Bank of China and China Construction Bank fell 0.8% and 0.9% respectively. Larger peer Industrial and Commercial Bank of China has yet to report."
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