Lifting Huawei ban can remove pressure on US firms, show goodwill to Beijing
US President Donald Trump promised during the G20 summit in Osaka, Japan, to lift some of the restrictions his government had placed on Chinese telecom company Huawei.
Shanghai Stock Exchange's STAR Market needs effective surveillance, support
The countdown to Shanghai Stock Exchange (SSE)'s STAR market is in its final hour. From November 5, 2018 until today, it has taken 259 days for the STAR market to officially take off. It will bring vitality to China's capital market. It is not only an important part of China's plan to deepen the capital market reform system, but also a significant experiment in China's financial supply-side reform. The market is conducive to pushing the nation's technological innovation, which is set to be expedited by the capital market reformist drive.
Vote-hungry attitude toward trade war with China can be US' Achilles' heel
The US-China trade war has lasted more than a year, only to see both sides take casualties. According to data released by China's General Administration of Customs last week, during the first half of 2019, China's exports to the US fell by 8.1 percent year-on-year to $199.4 billion, while imports plunged 29.9 percent to $58.92 billion, resulting in a trade surplus of $140.48 billion. In other words, while the first half saw Chinese exports to the US decline, though not by too much, US exports to China collapsed quite sharply. In particular, US exports of agricultural products to China slumped over the same period.
Vietnam's export surge does not justify massive manufacturing relocation from China
Vietnam's export revenue in the first five months of 2019 has seen a 6.7 percent increase year-on-year. Against the backdrop of a global economic slowdown and sprawling trade protectionism, this export performance has outshone other countries. In contrast, China's exports within the same period have been fluctuating and waning. Some are worried about industries withdrawing from China. However, there is no need to get too anxious.
China's single market still has great dividend potential in consumer sectors
Some people attribute the success of China's reform and opening-up to the “demographic dividend,” which is certainly not a comprehensive understanding. It would be a big mistake if we still regard the demographic dividend as a large supply of cheap labor. In my opinion, the broad concept of the demographic dividend should be classified into three levels: The first is the “cheap labor dividend,” the second is the “engineer dividend,” and the third is the “single market dividend.”
China's central bank needs to head off rising challenge posed by cryptocurrencies
Facebook's announcement of calling Libra a digital currency has sparked much debate, which is still continuing in the technology, finance and political fields. In addition to criticism toward data privacy and trading security, attention has been given to the future challenges to central banks' rights to issue currency. Some Chinese scholars and central bank officials have also weighed in on the issue.
What are the trends that are shaping the future of China's manufacturing migration?
In recent years, migration of the manufacturing sector from the Chinese mainland has become a major concern, especially against the backdrop of the US-China trade war over the past year. Indeed, if manufacturing moved offshore on a large scale, the mainland would lose its status as the world's factory and, like many countries, would face a potential hollowing-out of the economy. In this context, the Chinese economy would lose not only growth momentum but also its status as a manufacturing and economic power.
China's coordinative development economics powers up economy, global governance
Chinese culture is tenacious enough to grow continuously and prosper due to its core value, coordination. With coordinative measures, China has pushed for progress and the evolution of history. Following the coordinative principle, the country has dealt with many historical issues and built up a foundation for modernization.
China's manufacturers and market take the lead to embrace green vehicles
Although overall car sales in China have waned in the past 10 months, electric vehicles (EVs) have picked up the slack, thanks to the government's steadfast efforts to spur consumption of green cars. The plan is to cut the country's heavy reliance on imported oil and to reduce petrol-fired vehicles' choking tail-gas emissions.
China's continuous hike of gold reserves demonstrates diversification efforts
China increased its gold reserves for the seventh month in June, taking its total reserves to 61.94 million ounces, up 330,000 ounces compared to the previous month, data from the central bank showed on Monday. As gold is considered to be a typical safe haven asset, China's gold purchases are generally seen as a strategic measure to hedge against risks and uncertainties related to the international payment environment and its own currency.
EU-Vietnam free trade agreement won't affect China's ties to its Southeast Asian neighbor
In recent years, Vietnam has signed bilateral and multilateral free trade agreements with a number of economies or economic unions. On June 30, the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement were officially inked in Hanoi, Vietnam's capital. Hanoi views the deal as an important milestone for its global trade.
Retail 'market downgrade' sends alarm signals amid increased e-commerce monopoly
Talk of a so-called “consumption downgrade” has emerged in China in recent years. It refers to a shift of consumer preference from luxury products to cheaper goods amid the economic slowdown. Chinese officials have generally denied such a phenomenon, but even if China is really undergoing a “consumption downgrade,” cutting down spending on luxury goods is just a normal response by people when facing a slowing economy.
Resilient Chinese economy eases anxieties brought by bleak world economic future
China's macroeconomy is at a critical stage as internal economic problems have emerged in the last two years. When we attempted to define the “new normal” of China's economy and chose the path to structural reform on the supply side, we failed to consider world economy changes.
Bumpy road ahead for Libra's global currency goal as supervision called for
Facebook's announcement regarding its global cryptocurrency Libra, to be launched in 2020, has recently sent shockwaves through the world. Regulators in the US and European countries have already said that there would be plenty of scrutiny over the new cryptocurrency.
FedEx lawsuit against Department of Commerce reveals US governance predicament
US carrier FedEx has filed a lawsuit against the US Department of Commerce (DOC) on June 24 to prevent the government from “enforcing prohibitions contained in the Export Administration Regulations (EAR) against FedEx,” according to an online company statement.
Countries need to engage in the digital economy and cyberspace through trust, cooperation
As our societies have stepped into the era of the information technological revolution, a few nations that were slow to embrace the revolution and the new political environment are now taking the lead in international relations so that they can avoid being sidelined this time.
Resilient economy gives China psychological upper hand in upcoming trade talks with US
The truce in a raging China-US trade war, following a meeting in Osaka between the heads of the world's two largest economies on Saturday, is a piece of news eagerly anticipated by many.
The US should give China a fair hearing and pay attention to damage brought by tariffs
At the G20 summit in Japan, the planned meeting between Chinese President Xi Jinping and US President Donald Trump on the sidelines has received considerable attention. This high-profile meeting may revive trade talks that reached an impasse in May, pinning high hopes for maneuvering a trade truce that could stave off a fresh round of tariffs.