Viewpoint

11.17.17

China and the United States Are Equals. Now What?

Robert Daly
Donald Trump’s Asia trip was historic in one respect: it belatedly focused American attention on the competition between the United States and China for global primacy. China has risen, the era of uncontested American leadership has ended, and any...

China's $38 Trillion Off-Balance Sheet Binge Poses Little Risk: UBS

Bloomberg
The Chinese finance sector’s 253 trillion yuan ($38 trillion) of off-balance sheet items pose little risk because more than two-thirds of them are relatively harmless components such as custodial funds and untapped credit-card limits, said UBS Group...

China Faces Waste Hangover after Singles’ Day Buying Binge

Reuters
China’s Singles’ Day online discount sales bonanza on Saturday saw bargain-hungry buyers spend over $38 billion, flooding the postal and courier businesses with around 331 million packages - and leaving an estimated 160,000 tonnes of packaging waste.

'It's a Mistake to Underestimate China'

Atlantic
At the recent APEC CEO Summit in Vietnam, President Donald Trump said the United States would refocus its existing development efforts in Asia toward infrastructure investment that promotes economic growth.

China Could Sell Trump the Brooklyn Bridge

Thomas L. Friedman
New York Times
There is a saying — “When you don’t know where you’re going, any road will get you there” — and it perfectly sums up the contrast between China’s President Xi Jinping and President Trump.

China is Challenging the West’s Dominance in Foreign Aid

Eric Olander, Cobus van Staden & more
Quietly, and largely out of sight, China has emerged to become a major player in the foreign aid space, challenging institutions and norms long established by the West. Although China’s international development budgets remain a tightly guarded...

China Investment Growth Slows, Industrial Output Misses Expectations

Reuters
CNBC
China’s fixed-asset investment growth slowed to 7.3 percent in the January-October period, and came in slightly below market expectations.

Amazon to Sell Part of Its Cloud Business in China

Wall Street Journal
Wall Street Journal
Amazon.com Inc. said it would sell computing equipment used for its cloud services in China to its local partner, Beijing Sinnet Technology Co., in a move analysts said underscores the increasingly chilly atmosphere for foreign companies here.

China’s Three New Economic Challenges for the U.S.

Roselyn Hsueh
Washington Post
President Donald Trump is scheduled to attend the Nov. 13-14 East Asia Summit, the last stop on a lengthy Asia trip. This year’s meeting brings together the leaders of 16 Asia-Pacific countries, the United States, Canada and Russia for a discussion...

Chinese Investment is Reshaping Africa’s Manufacturing Sector

Eric Olander, Cobus van Staden & more
Author Irene Yuan Sun argues in her new book that Africa is poised to become the world’s next manufacturing hub, boosted by Chinese investment and production expertise. With costs steadily rising in the People’s Republic of China, more and more...

AP FACT CHECK: US-China Trade Package Mostly about Symbolism

Washington Post
A trade and investment package announced during President Donald Trump’s visit to China is more about the art of diplomacy than the art of the deal.

Apec Summit: Trump and Xi Offer Competing Visions for Trade

BBC
US President Donald Trump and his Chinese counterpart Xi Jinping have set out starkly different visions for the future of global trade in speeches at a summit in Vietnam.

While We Obsess over Trump, China Is Making History

Fareed Zakaria
Washington Post
While news and analysis in the United States continue to be obsessed with President Trump’s daily antics and insults, halfway around the world, something truly historic just happened

These Are the 37 Major Deals US Firms Signed with Chinese Entities during Trump's Visit

CNBC
The Commerce Department has revealed the 37 major deals signed between U.S. and Chinese companies during President Donald Trump's trip through Asia, totaling more than $250 billion...

China's CEOs View Trump as a Dealmaker

Bloomberg
President Donald Trump’s ‘America First’ rhetoric on trade has prompted concerns among many that his words could soon be matched by action. Chinese executives say they’re not worried.

U.S. Companies Signed a Ton of Deals during Trump's China Trip

Fortune
U.S. companies, from chip giant Qualcomm to aircraft maker Boeing, announced a slew of deals on Thursday during U.S. President Donald Trump’s visit to Beijing. The deals could be valued as much as $250 billion, though some have been long in the...

Shaky U.S.-China Trade Relationship Will Top Trump's Agenda in Beijing

Rob Schmitz
NPR
Soft lounge music pipes through the speakers as elegantly dressed shoppers peruse organic produce and meats at City'super, one of Shanghai's most upscale markets, a cross between Whole Foods and Louis Vuitton. But one look at the price of...

Bitcoin Proves Hard to Kill in China

Gabriel Wildau
Financial Times
Chinese investors are still trading bitcoin and buying initial coin offerings, suggesting authorities in Beijing are struggling to clamp down on cryptocurrencies just weeks after announcing that public exchanges would be shut down.

How China’s Economy Is Poised to Win the Future

Ian Bremmer
Time
President Trump has plenty of work to do during his 10-day tour of Asia in November. In Japan and South Korea, he must reassure nervous allies that an “America first” foreign policy does not mean the U.S. has ceded regional dominance to China. In...

China Deflects Blame for Opioid Crisis as Trump Visit Nears

New York Times
As President Trump visits China next week, his vow to press for more stringent drug controls may run into resistance from a government loath to accept full responsibility for its role in the United States’ opioid problem.

Conversation

11.02.17

Trump Goes to Asia

Ely Ratner, David Dollar & more
Chinese officials like to talk about practicing “win-win” diplomacy. Their American counterparts sometime joke that this means China wins twice. From November 3 to November 14, Donald Trump will visit Japan, South Korea, Vietnam, the Philippines,...

Other

10.31.17

Down from the Mountains (Reader-Friendly Version)

Max Duncan
At 14 years old, Wang Ying doesn’t want to be a mother. She scowls darkly as her younger brother and sister squabble in the corner while she does the housework. But she grudgingly cleans up after them and cooks them a potato stew, which they eat...

Video

10.31.17

Down From the Mountains

Max Duncan
At 14 years old, Wang Ying doesn’t want to be a mother. She scowls darkly as her younger brother and sister squabble in the corner while she does the housework. But she grudgingly cleans up after them and cooks them a potato stew, which they eat...

China’s Global Ambitions Could Split the World Economy

Michael Schuman
Bloomberg
After the fall of the Berlin Wall, many economists and policymakers assumed the world would become one happy, prosperous economy. Aided by the spread of capitalism and technology, countries would be increasingly knit together by trade, finance, and...

China Shuts Down Tens of Thousands of Factories in Unprecedented Pollution Crackdown

Rob Schmitz
NPR
In the gritty industrial town of Yiwu, workers prepare jeans to be dyed in a vivid range of colors.Two months ago, this factory — and this entire city, located in China's eastern province of Zhejiang — was a much quieter place. Inspection crews...

China’s New Antipollution Push Could Cool Its Growth Engine

Keith Bradsher
New York Times
China’s minister for environmental protection said Monday that even tougher measures will be coming. 

China's Skewed Sex Ratio Makes President Xi's Job a Lot Harder

Quartz
As odd as it sounds, China’s economic policy is being held hostage by its heavily skewed sex ratio.

Which Industries Will China Set up in Xiongan, the President's Dream City?

South China Morning Post
Appointment of banking regulator to key role would boost confidence that the shrinking reform camp will still be able to influence policy

Chinese Property Boom Props up Xi’s Hopes for the Economy

Tom Hancock
Financial Times
Ocean Flower Island is a vision of luxury, Chinese-style. A man-made archipelago off the coast of the tropical island of Hainan in the South China Sea, it will boast thousands of apartments, 28 museums and 58 hotels including one which is “7-star...

China’s Reform Hopefuls Watch for Names. Only One May Matter.

Keith Bradsher
New York Times
A decade ago, this city in southeastern China had a reputation as one of the country’s grimmest, with smoggy skies, chronic traffic jams and streams so foul that they had to be paved over to contain the stench.

China’s "Rogue Aid" to Africa Isn't as Much or as Controversial as We Thought

Lily Kuo
Quartz
A decade ago, a New York Times columnist coined the term “rogue aid” to describe China’s financial assistance in the developing world: nontransparent, nondemocratic, and above all self-interested. Since then, the label has stuck.

China Is Quietly Reshaping the World

Anja Manuel
Atlantic
The Pakistani town of Gwadar was until recently filled with the dust-colored cinderblock houses of about 50,000 fishermen. Ringed by cliffs, desert, and the Arabian Sea, it was at the forgotten edge of the earth. Now it’s one centerpiece of China’s...

The Human Cost of China’s Economic Reforms

Robin Brant
BBC
Mr Yu is worried that millions of workers the Chinese government plans to lay off from failing state owned companies will be “abandoned” like he says he was 15 years ago.

Viewpoint

10.17.17

Stein Ringen: ‘The Truth About China’

Stein Ringen
Democracies have found it difficult to deal with the great dictatorships. So now with China. The first difficulty is to recognize just what we are up against, and to avoid wishful thinking.In his first five years, Xi Jinping has reshaped the Chinese...

How China's Financial Cracks Could Spread

Aaron Back
Wall Street Journal
Can financial turmoil in China play havoc with the rest of the world? It has already happened.

China’s Huawei Could Overtake Apple This Year in Smartphones, Top Analyst Says

Arjun Kharpal
CNBC
In the second quarter of this year, Huawei held a 11.3 percent market share, shipping 38.5 million units, IDC data show. Apple meanwhile shipped 41 million iPhones and had a 12 percent market share in the same period.

In China, Trading Begins on WeChat

Lianting Tu and Carrie Hong
Bloomberg
Regulators elsewhere may be clamping down on the financial industry’s use of private messaging apps, but in the world’s second-largest economy the practice is flourishing.

China Seeks Dominance of Global AI Industry

Louise Lucas
Financial Times
While the National Science Foundation in the US has no increase in funding this year, China has promised to “vigorously use governmental and social capital” to dominate the industry.

China's Pollution Crackdown Is Gaining Momentum

Bloomberg News
Bloomberg
That political will overlaps with an economic need to rein in surplus production of steel, aluminum and other basic materials after years of over-investment. How and when that capacity gets replaced will be a key factor in the economy’s performance...

Conversation

10.16.17

What to Watch at China’s Party Congress

Ho-fung Hung, Taisu Zhang & more
The Chinese Communist Party’s 19th Party Congress, a hugely important political meeting usually held once every five years, will begin on October 18 in Beijing. Like many events involving China’s ruling party, the most important decisions and...

China September Exports up 8.1%, Imports up 18.7% as Trade with North Korea Slides

CNBC
China reported strong trade data on Friday just days ahead of a major Communist Party Congress.

Xi Jinping Has More Clout Than Donald Trump. The World Should Be Wary

Economist
American presidents have a habit of describing their Chinese counterparts in terms of awe. A fawning Richard Nixon said to Mao Zedong that the chairman’s writings had “changed the world”. To Jimmy Carter, Deng Xiaoping was a string of flattering...

The Chinese World Order

Andrew J. Nathan from New York Review of Books
Ten years ago the journalist James Mann published a book called The China Fantasy, in which he criticized American policymakers for using something he called “the Soothing Scenario” to justify the policy of diplomatic and economic engagement with...

China Treats Its Foreign Aid Like a State Secret. New Research Aims to Reveal It.

Adam Taylor
Washington Post
Since the turn of the century, China has become an unavoidable global provider of foreign assistance, funding everything from opera houses in Algeria to tobacco farms in Zimbabwe.

China to Debtors: Pay up or Be Shamed

Keith Bradsher and Ailin Tang
New York Times
Troubled by huge debts run up by big state companies and politically connected local governments, China is taking steps instead to go after the little guys.

China Hastens the World toward an Electric-Car Future

Keith Bradsher
New York Times
There is a powerful reason that automakers worldwide are speeding up their efforts to develop electric vehicles — and that reason is China.

Breakingviews - China's Oil Giants Brace for Electric Car Crash

Katrina Hamlin
Reuters
China’s push into new energy vehicles (NEVs) – including battery-powered and hybrid cars – could curb demand for black gold. Sinopec and PetroChina will be hardest hit. The policy will also add to downward pressure on global crude prices.

Accelerating Fintech in China

Joshua Bateman
TechCrunch
China’s expeditious adoption of fintech is generating profits not only for startups, but also the companies investing in them. Sitting in the headquarters of FinPlus, a fintech venture capital firm and accelerator, its CEO, Mosso Lau, said, “There...

New Documentary Portrays Nuanced View of Africans’ Experience Living in China

Eric Olander, Cobus van Staden & more
When filmmakers Zhang Yong, Hodan Abdi, and Fu Dong set out to make a new documentary on the African migrant experience in China, they were determined to ensure that their own voices and experiences came through in the story. Until now, most if not...

Conversation

10.06.17

Is China the Future of Bitcoin, or Its Past?

Andrew Collier, Isaac Mao & more
China often dominates the market for Bitcoin, a virtual currency managed by a decentralized network of computers: at points over the last few years, China may have accounted for more than 75 percent of Bitcoin trading. Energy subsidies there make it...

What We Know about China’s 19th Party Congress and the Possible Economic Fallout

Sara Hsu
Forbes
On October 18, China will hold its 19th National Party Congress, which will provide broad indications for economic policy in the coming years. While it has been projected that there will be significant changes among the top party members, President...

In China, Cryptocurrency Sales Persist in the Shadows

Chuin-Wei Yap
Wall Street Journal
Three days after Chinese regulators outlawed cryptocurrency fundraising in early September, a woman met with half a dozen individuals at a Beijing golf club to pitch a digital-currency investment opportunity.

China's Real Reasons for Enforcing North Korea Sanctions: Trump, Party Congress

Nyshka Chandran
CNBC
Washington has praised the world's second-largest economy for making progress in enforcing sanctions imposed on North Korea. But China's current measures may just be a temporary move for its own gain...

The Curious Career Paths of China's Public-Sector Bosses

Tom Mitchell
Financial Times
The official heroes of China’s state-sector reform program range from dedicated anti-graft investigators, who have purged dozens of allegedly corrupt executives over recent years, to strategically minded administrators determined to create a stable...

Exclusive: One Ford, Two Systems - U.S. Carmaker Revamps China Strategy amid EV Push

Norihiko Shirouzu, Joseph White
Reuters
U.S. automaker Ford Motor Co (F.N) is overhauling its China plans as its global “One Ford” strategy is holding it back in the world’s biggest auto market, two high-ranking company insiders told Reuters.

This Week, Half of China's Population Is on the Move

Echo Huang
Quartz
Close to 700 million people in China are expected to travel during the country’s National Day holidays, known as the Golden Week, which kicked off on Sunday (Oct. 1).

As Sanctions Bite, North Korean Workers Leave Chinese Border Hub

Philip Wen
Reuters
Almost 100,000 overseas workers, based predominantly in China and Russia, funnel some $500 million in wages a year to help finance the North Korean regime, the U.S. government says.

China Accused of Flooding Europe with Cheap E-Bikes

Ivana Kottasová
CNN
Imports of Chinese e-bikes to Europe have increased from almost zero in 2010 to an estimated 800,000 in 2017, according to the European Bicycle Manufacturers Association. The industry group has had enough: It filed a complaint with the European...

China Steps up Battle Against Runaway Property Prices

Xinning Liu and Gabriel Wildau
Financial Times
Chinese banking regulators have told lenders to crack down on the use of consumer loans to finance home purchases, the latest effort to cool down the overheated property market and rein in financial risk.

Media

09.29.17

Trump on China

In the run-up to and during his race toward the presidency of the United States, Donald Trump made frequent statements about China, its people, and the government in Beijing, in remarks that ranged from effusive praise to outright attack, and which...