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Media Report
October 26 , 2018
  • The New York Times：Shinzo Abe Says Japan Is China's 'Partner,' and No Longer Its Aid Donor
    The New York Times reports: "It has been eight years since China overtook Japan as the world's second-largest economy. Yet the Japanese government continued to provide China with development assistance usually reserved for poorer countries. Until now. In Beijing for the first official visit by a Japanese leader since 2011, Prime Minister Shinzo Abe acknowledged China's economic dominance by announcing an end to the aid. Instead, he pledged to forge deeper economic and political cooperation, in what is widely seen as a hedge against the volatile, America-first policies of President Trump. The announcement — coupled with new cooperation agreements Mr. Abe signed on Friday with his Chinese counterpart, Li Keqiang — signaled a significant shift in a relationship that has been haunted by war and occupation and is still strained by territorial disputes and other issues, which, publicly at least, have receded into the background."
  • Bloomberg：China's Yuan Nears Decade Low as Brief Period of Calm Ends
    Bloomberg reports: "After a quiet few weeks, the yuan is center stage again. The currency slid toward its weakest in a decade on Friday, approaching a key support level of 7 per dollar before managing a slight rebound. The moves came after it fluctuated in a narrow band of about 1 percent through October, the tightest range since April 2017. Now bearish wagers are building again as capital outflow pressure grows." 
  • The Wall Street Journal：U.S. Leads the Way in the Billionaires Race—but China Is Catching Up
    The Wall Street Journal reports: "The U.S. is home to more dollar-based billionaires than any other country but China has cut into its lead, according to Swiss bank UBSGroup AG's annual report card on the state of the megarich. Overall, global billionaire wealth increased by a record $1.4 trillion to $8.9 trillion in 2017, a year in which economies around the world grew at robust rates, equity markets soared and bond yields stayed low as central banks mostly maintained easy-money policies in an environment of low inflation. The financial backdrop has been less supportive this year, as global equity markets are mostly down on the year and bond yields have risen. But billionaires' wealth is likely to rise further this year. Much of the riches generated by billionaires come from their own businesses and not the financial markets, UBS noted. U.S. tax cuts that went into effect this year will likely also have an impact."
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