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Media Report
October 19 , 2018
  • The New York Times reports: "Secretary of State Mike Pompeo said Thursday that he had warned President Juan Carlos Varela of Panama about doing business with China, criticizing Chinese state-owned enterprises that engage in 'predatory economic activity.' As his plane left Panama City, Mr. Pompeo recounted his talks with Mr. Varela and local journalists. Clearly concerned that Panama could become a beachhead for growing Chinese economic influence in the Western Hemisphere, he emphasized that Panamanians should be cautious when considering business ties with China. Mr. Pompeo said he intended to tell the entire region that 'when China comes calling, it's not always to the good of your citizens,' and that countries had to watch out for Chinese companies that "show up with deals that seem too good to be true."

    His warning came more than a year after Panama cut diplomatic relations with Taiwan — which China views as a part of its territory — in favor of establishing ties with Beijing. Two other nations in the region followed suit this year.

  • The Wall Street Journal reports: "As China's economic growth weakens faster than expected and uncertainty from the trade fight with the U.S. casts a shadow over business, a surprising driver has been exports. But that may soon peter out.American clients of Ningbo Frank Electric Co., a Chinese manufacturer of kettles and other household appliances, have been placing orders several months in advance, salesman John Zheng said. 'It all looks so good at the moment,' he said. 'But it won't continue.' China released a gloomy report card Friday on its economy's performance, with the rate of economic growth sliding to 6.5% in the third quarter, the slowest pace since the global financial crisis. Just ahead of the release—and after Chinese stocks fell 3% Thursday, taking losses to nearly 25% since the start of the year—the country's top financial regulators all came out with comments to calm investors."
  • The New York Times reports: "Sputtering growth, soaring debt and an escalating trade war with the United States are increasingly weighing on China's economy. China's government on Friday reported that the economy grew by 6.5 percent over the three months that ended in September compared with a year ago. While fast by global standards, the pace is China's slowest since early 2009, during the depths of the global financial crisis. China has reported growth figures over the past two years that painted a picture of an economy that is gamely chugging along, despite the country's lingering problems and widespread doubts over the reliability of official numbers. A different narrative is emerging this year, one of a slowing economy that is forcing Beijing to make some difficult choices."
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