China Shrugs off Debt Worries as Xi Takes Firmer Economic Grip

New York Times
It’s Xi Jinping’s economy now, and he isn’t too worried about debt.

Conversation

12.19.17

Trump’s National Security Strategy and China

Zha Daojiong, Pamela Kyle Crossley & more
On December 18, U.S. President Donald J. Trump announced the United States’ new national security strategy. He called China a “strategic competitor,” and, along with Russia, called it a “revisionist power.” Those two nations, Trump said, are...

China Property Price Growth Slows to 21-Month Low

Hudson Lockett
Financial Times
Growth in the cost of new housing in China decelerated for a twelfth straight month in November, according to official figures, marking the slowest rise since early 2016.

China Plans to Kill Local Subsidies for Electric Cars

Bloomberg News
Bloomberg
The Ministry of Finance is working on a plan that would mandate authorities to phase out the incentives to discourage protectionism and help rein in state expenditure, people familiar with the matter said, asking not to be identified discussing...

Google Plans Big AI Push in China

Fortune
Google is expanding its artificial intelligence, or AI research to China.

What to Do about China's "Sharp Power"

Economist
WHEN a rising power challenges an incumbent one, war often follows.

Conversation

12.13.17

Is Chinese Investment Good for Workers?

Aaron Halegua, Yu Zheng & more
China’s Belt and Road Initiative is a $1 trillion plan to deepen economic relations between itself and up to 60 other countries worldwide through large investments in infrastructure, construction, and other projects. Many commentators have...

Google to Open Beijing AI Center in Latest Expansion in China

Shelly Banjo and David Ramli
Bloomberg
Google is deepening its push into China as it seeks an edge in one of technology’s most competitive fields: artificial intelligence.

China and the Rise of Africa’s New Autocrats

Eric Olander, Cobus van Staden & more
Anzetse Were is a Nairobi-based international development economist and newspaper columnist who is increasingly worried about a resurgence of autocratic rule in Africa. Buoyed by the United States’ apparent receding interest in promoting democratic...

China's Debt Levels Pose Stability Risk, Says IMF

Guardian
Fears that China risks being the cause of a fresh global financial crisis have been highlighted by the International Monetary Fund in a hard-hitting warning about the growing debt-dependency of the world’s second biggest economy.

Why China's GDP Growth Rate Tells Us Nothing about Its Economy

Fortune
China clocked in GDP growth of 6.9% in the first three quarters of 2017, and is set to end the year at 6.8%. But Peking University finance professor Michael Pettis believes that the figure is no indication of the actual state of the Chinese economy.

China Will Lead an Electric Car Future, Ford's Chairman Says

Keith Bradsher
New York Times
The world’s automakers are just starting to bet on an electric car future — and already, one of the most powerful people in the industry says that future belongs to China.

Trump Wasn’t Soft with Xi Jinping on Trade Gap, Says US Ambassador to China

Holly Ellyatt, Geoff Cutmore, Eunice...
CNBC
The U.S. ambassador to China has defended President Donald Trump’s stance towards the Asian nation during his recent visit, amid criticism that the U.S president was too soft on trade imbalances between the two superpowers.

Will Tech Firms Challenge China’s ‘Open’ Internet?

Robin Brant
BBC
China has been smart and ruthless in its control of the internet within its borders. It blocks some foreign sites altogether and it censors - heavily - what Chinese are allowed to see.

China’s Drive for Cleaner Energy Is Causing a Gas Shortage for Winter

Huileng Tan
CNBC
China's push to clean up its environment may have had an unintended consequence: a shortage of heating fuel supply is hitting some regions in the dead of winter, sending prices of domestic liquefied natural gas (LNG) to a three-year high...

China Will Lead an Electric Car Future, Ford's Chairman Says

Keith Bradsher
New York Times
Speaking in Shanghai, William C. Ford Jr., Ford Motor’s longtime executive chairman, outlined why in an unusually blunt comment. “When I think of where E.V.s are going,” he said, using an abbreviation for electric vehicles, “it’s clearly the case...

The Underclass That Threatens Xi's 'China Dream'

Andrew Browne
Wall Street Journal
Beijing’s mass evictions of migrants cast a chill over Xi’s lofty equality goals.

Special Report: Hidden Peril Awaits China’s Banks as Property Binge Fuels Mortgage Fraud Frenzy

Engen Tham, Clare Jim, Yawen Chen
Reuters
While property prices in China continue to rise, mortgage fraud remains largely a hidden danger, much as subprime loans in the United States remained mostly out of sight ahead of the 2008 global financial crisis.

Free Trade Talks with China Will Not yet Begin

Chris Hall
CBC News
Canada will not begin formal free trade talks with China — at least not yet.

China in Pole Position amid 'Desperate' Global Race to Secure Lithium Supplies

Sam Meredith
CNBC
China is outpacing the U.S. and other countries in a global race to secure supplies of an all-important element for electric cars.

Trump's First Major Trade Fight with China Could Be over Solar Panels

New York Times
With President Trump vowing to get tougher on trade, troubled American makers of everything from steel tubing and aluminum foil to washing machines have lined up to ask Washington for protection from foreign rivals.

U.S. Seeks to Deny China Market Economy Status in WTO

Shawn Donnan
Financial Times
The Trump administration has opposed China’s bid for recognition as a “market economy” in the World Trade Organization, citing decades of legal precedent and what it sees as signs the country is moving in the opposite direction under Xi Jinping.

Chinese Manufacturing Expanded More Than Expected in November

Yen Nee Lee
CNBC
China reported on Thursday that factory activity expanded at a quicker pace in November, with the official manufacturing Purchasing Managers' Index coming in at 51.8 — topping expectations...

Trump Starts Probe into Aluminum That China Calls Protectionist

Joe Deaux and Andrew Mayeda
Bloomberg
The Trump administration, invoking powers the U.S. hasn’t used in more than a quarter century, began a probe into Chinese aluminum imports that could lead to tariffs.

Chinese Stocks Are Beginning to Show 'Cracks.' Here's What It Means

Rebecca Ungarino
CNBC
China’s stock market has been steadily rising all year, but according to one technician the charts are beginning to show signs of weakness.

China Fintech Lending Boom Fuels Risks of Data Theft Black Market in User Details Thrives as Apps Require Borrowers to Grant Access to Phones

Gabriel Wildau and Yizhen Jia
Financial Times
The rise of online consumer loans in China has spawned a thriving black market in stolen user data.

Xi Jinping Makes China’s Toilets a Number Two Priority

Benjamin Haas
Guardian
Chinese urged to ‘Advance the Toilet Revolution Steadily’ and do away with squalid communal facilities as a national imperative.

Chinese Premier Backs More Investments in Eastern Europe

Pablo Gorondi
ABC
At a summit of 16 countries in the Hungarian capital, Premier Li Keqiang said efforts such as China’s “new Silk Road” initiative to expand trade across Asia, Africa and Europe, should be a boon to the countries that were formally part of the...

Chinese Premier Backs More Investments in Eastern Europe

Pablo Gorondi
At a summit of 16 countries in the Hungarian capital, Premier Li Keqiang said efforts such as China’s “new Silk Road” initiative to expand trade across Asia, Africa and Europe, should be a boon to the countries that were formally part of the...

Early China Indicators Signal That Economy Cooled This Month

Bloomberg News
Bloomberg
Confidence among China’s sales managers and steel producers waned in November, matching the mood among international investors, while sentiment among small businesses improved, according to the earliest available indicators.

Business Is Booming Between China, Japan and South Korea — the US Should Get in on It

Michael Ivanovitch
CNBC
China, Japan and South Korea account for a quarter of the world’s output of goods and services. Their combined trade surplus is currently running at an annual rate of $400 billion. They can recycle that trade income to finance, with interest, most...

Air China Indefinitely Suspends Flights between Beijing and Pyongyang

Reuters
Air China Ltd has indefinitely suspended flights between Beijing and Pyongyang, citing poor demand as North Korea faces growing sanctions from the United States over its nuclear weapons and missile programs.

A New Generation Looks at the China-Africa Relationship

Eric Olander, Cobus van Staden & more
Independent filmmakers Jidi Guo and Philip Man join Eric and Cobus to discuss their new documentary about how a new generation is responding to China’s growing influence in Kenya. This is the first documentary produced by the Shanghai-based pair,...

China to Fend off Bubble Risk with Tighter Property Rules

David Reid
CNBC
The authorities said they would stop funds being illegally funneled into property and that capital flow would be more forcibly balanced between real estate and other industries.

Chinese Social Media Giant Is Worth More Than Facebook

Daniel Shane
CNN
Tencent shares closed more than 2% higher in Hong Kong on Tuesday, valuing the social media and gaming giant at around $522 billion, according to FactSet. Facebook is currently worth a little over $519 billion.

China's Revealing Spin on the ‘Sharing Economy’

Brook Larmer
New York Times
China is the first country to frame “sharing economy” as a “national priority.” It fits with the image that Beijing wants to project: warm, generous, egalitarian.

The North Korean Nuclear Threat: The View From Beijing

Paul Haenle & Jen Psaki from Carnegie-Tsinghua Center for Global Policy
North Korea was atop the list of priorities for President Donald Trump during his first visit to China, but it remains to be seen how much substantive progress was made on bringing parties closer to a dialogue aimed at denuclearizing the Korean...

Depth of Field

11.20.17

Fake Girlfriends, Chengdu Rappers, and a Chow Chow Making Bank

Ye Ming, Yan Cong & more from Yuanjin Photo
Lonely dog owners in Beijing and a rented girlfriend in Fujian; the last Oroqen hunters in Heilongjiang and homegrown hip hop in Chengdu; young Chinese in an Indian tech hub and Hong Kong apartments only slightly larger than coffins—these are some...

Chinese Shadow Banking Has Slowed — but That's Not as Good as It Seems

Huileng Tan
CNBC
China is on a drive to reduce its reliance on debt, a habit that some experts warn could lead to a global financial crisis.

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.

China Could Sell Trump the Brooklyn Bridge

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.

'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...

Viewpoint

11.10.17

Bathed in the Xi Jinping Bromance

Orville Schell
Sitting in a grand salon of the Great Hall of the People in Tiananmen Square and awaiting the official arrival ceremony of President Trump was to be taken back to that period of Sino-Soviet amity when Stalin was Mao’s “big brother” and the Chinese...

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...

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

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.

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.

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.

Viewpoint

11.07.17

Sticking to the Script, Trump Seems to Internalize It

Orville Schell
Slowly we are stitching our way across Asia on Donald J. Trump’s great five-nation oriental hegira. After a punishing 2:00 a.m. departure from Yokota Air Force Base outside Tokyo, we arrived this morning at Osan Air Base outside of Seoul, a reminder...