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This category contains 167 posts

China is bailing out the world’s teetering oil producers – on terms that could cripple them


Oil-exporting nations are facing budget crises, political instability and social upheaval thanks to the cratering of crude oil prices in recent weeks. Enter China. Despite an economic slowdown of its own—which has been a factor in plunging oil prices—Beijing is stumping up billions of dollars in loans to many of these countries, in exchange for what some analysts … Continue reading

China’s charm offensive: $3 billion attempt to buy good relations with South East Asia


After his successful charm offensive in central and eastern Europe, Chinese Premier Li Keqiang directed the same offensive at South East Asia. According to a Reuters report, the Chinese government’s mouthpiece Xinhua said in its report yesterday that Li has offered more than $3 billion in loans and aid to neighbours Cambodia, Vietnam, Myanmar, Thailand … Continue reading

Could a Russia-China alliance save Russia from collapse?


As soon as the US began to adopt its policy of a pivot to Asia to encircle China, China switched to Russia’s side by joining Russian veto over Syria issue. China followed Sun Tze’s teaching in The Art of War, that subduing the enemy by diplomacy is the second best strategy. I regard it as … Continue reading

Why China keeps throwing trillions in investments down the drain


A recent study performed by two economists affiliated with a Chinese state agency found that China’s state investments have becoming alarmingly wasteful and ineffective. There are two indisputable facts about China’s mammoth investments in its infrastructure and factories. One, they are a growth engine, accounting for roughly half of the country’s GDP increase since 2000. … Continue reading

China seeks to expand free trade area to South Asia in quest to dominate all Asia


Geologically, the Himalayas are regarded as the boundary of South Asia. As China lies to the north of the Himalayas, it is certainly not a part of South Asia and it has never claimed that in history. However, a Reuter’s report says that China is very interested in having its status raised from “observer” in … Continue reading

Australia and China sign landmark free trade deal


China and Australia on Monday sealed a landmark free trade agreement more than a decade in the making, significantly expanding ties between the world’s second largest economy and one of Washington‘s closest allies in Asia. The deal, which Australia called the best ever between Beijing and a Western country, will open up Chinese markets to … Continue reading

China makes public its dream for Greater Asia Co-prosperity Sphere


In my post “China’s Greater Asia Co-Prosperity Sphere” on January 28, 2012, I said: “Decades ago, Japan shed lots of blood to fight for the establishment of its Greater East Asia Co-prosperity Sphere but failed disastrously. However, it seems that China will succeed in establishing a greater Asia Co-prosperity Sphere centred on China without firing … Continue reading

Massive spending won’t make China’s Asia dream come true; money can’t buy respect


After two years of waxing poetic at home about a “China Dream,” Xi Jinping wants to enchant the entire Asia region—and is dangling $1.25 trillion to make sure he does. “China’s development will bring huge opportunities and benefits to the Asia-Pacific and the world, President Xi told business leaders in Beijing on Sunday. “We are … Continue reading

How much did Australia sacrifice to China in deal to export one million live cattle per year?


Australian Prime Minister Tony Abbott should reveal the negative impacts of free trade with China, Oposition Leader Bill Shorten says, accusing the government of “selective leaks to soften up the electorate” for painful concessions to Beijing. The Australian this morning revealed one million beef cattle valued at more than $1 billion are set to be … Continue reading

Three major nations absent as China launches World Bank rival in Asia


As Japan and the US will not allow China to increase its stake in the Asian Development Bank (ADB) and World Bank, China set has set up a multinational rival bank called the Asian Infrastructure Investment Bank (AIIB). 21 countries in the region, all of them except Japan, Australia, Indonesia and South Korea, attended the … Continue reading

China’s says its New Silk Road will be America’s ultimate nightmare


The following is a translation from Chinese media. The website of a Spanish media outlet reported on October 9 that while the US “New Century” is rapidly aging, the Beijing–Moscow-Berlin strategic trade alliance may be a reality in the future. The website said: Beijing and Moscow leaders attach great importance to the alliance, in which … Continue reading

China: the tricky chessboard of the free trade agreements


US and China are facing each other with similar but opposite strategies in the whole Asia-Pacific area: The Trans Pacific Partnership (TPP), of which China isn’t a part, and the Regional Comprehensive Economic Partnership (RCEP) led by China and the ten nations of ASEAN that will create a regional free market of more than 3 … Continue reading

China seeks to be centre of Asian Union, world’s largest Free Trade Zone


As far back as January 2012, I pointed out “China’s desire to establish an East Asia Co-prosperity Sphere,” which Japan shed a lot of blood to establish decades ago, but failed. ASEAN plus China, Japan and Korea (APT – ASEAN Plus Three) will be its embryo. If Australia and New Zealand, who both already have free trade … Continue reading

China working hard to woo India; Russia sees chance for new cold war with America


Chinese President Xi Jinping is showing China’s goodwill in India, especially China’s desire to resolve its border dispute with India peacefully and maintain peace along the disputed border so the dispute can be solved. Russia wants a Russia-China-India alliance to counter the U.S. It seems that there is no way to form such an alliance … Continue reading

China wants a military base on Maldives in Indian Ocean


When China’s President Xi Jinping visited Indonesia last year, he raised his idea on reviving the maritime silk road running from China through Southeast Asia and the Indian Ocean to Europe. His true intention may well be to obtain trade related shipping facilities along China’s trade lifelines linking the Middle East and Europe. The US … Continue reading

China’s protectionism, unpredictable laws, unreliable suppliers and intimidation tactics create uncertainty for foreign companies


It’s hard to keep a straight face as China accuses Microsoft of “monopolistic behavior” and raids its offices in Beijing, Shanghai and elsewhere. What, that cartel known as the Communist Party suddenly has a problem with large organisations that dominate their particular sectors? I have no inside intelligence on whether the tech giant Bill Gates … Continue reading

Multinationals invest less in China because of market access barriers


Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world’s second-largest economy, a U.S. business lobby said on Tuesday. China’s economy expanded 7.4 percent year-on-year in the January-March quarter, its slowest pace in 18 months. Concerns over market access and slower growth are greater this … Continue reading

Japanese investment in Southeast Asia surged last year to almost three times amount invested in China


Japanese companies‘ investments in Southeast Asia surged last year to almost three times the amount invested in China, after relations between Beijing and Tokyo soured in 2012 and Chinese labor costs rose, a government agency of Japan said on Friday. Japanese companies invested 2.33 trillion yen ($22.8 billion) in Singapore, Thailand, Indonesia, Malaysia, the Philippines … Continue reading

Venezuelan state’s economic response to protests: Rationing plus Chinese and Russian loans to float a liberal dollar market


As protests continue against Venezuela’s faltering “oil revolution,” the political strategy of the Chavista administration is striking for its intransigence. President Maduro has refused to recognise any grievances by students or other protesters. He calls protesters “fascists” and blames them for all the ills of the economy.  Protests are attacked by the national guard and often by … Continue reading

China to bypass Malacca Strait by Kra Isthmus Canal in Thailand


The following article was translated from Chinese media: The trade route to the Indian Ocean through the Malacca Strait has the problems of pirates, shipwrecks, haze, sediment and shoals. Its rate of accidents is twice as high as the Suez Canal and four times higher than the Panama Canal. An alternative shorter route is to build … Continue reading

45,000 more rich Chinese waiting to move to Vancouver, Canada


Over 60pc seeking Canadian wealthy investor visa are from China and want to live in British Columbia’s main city, data shows A South China Morning Post investigation into Canada’s immigration programme for millionaire investors has revealed the extraordinary extent to which it has become devoted to a single outcome: Helping rich mainland Chinese settle in … Continue reading

China gets tougher on foreign companies; foreign companies leave


Life is getting tougher for foreign companies. Those that want to stay will have to adjust. According to the late Roberto Goizueta, a former boss of The Coca-Cola Company, April 15th 1981 was “one of the most important days…in the history of the world.” That date marked the opening of the first Coke bottling plant … Continue reading

China condemns US “protectionist methods” over cyber espionage fears


China‘s Commerce Ministry has condemned a $1.1-trillion spending bill passed by the U.S. Congress last week over clauses that limit technological purchases from the Asian giant, saying they clash with the principles of fair trade. The bill, signed by President Barack Obama on Friday, included a cyber-espionage review process for federal purchases of technology from … Continue reading

China surpasses US as world’s largest trading nation


China became the world’s largest trading nation in 2013, overtaking the US in what Beijing described as “a landmark milestone” for the country. China’s annual trade in goods passed the $4tn (£2.4tn) mark for the first time last year according to official data, after exports from the world’s second largest economy rose 7.9% to $2.21tn and … Continue reading

Beijing’s aggression accelerates relocation of foreign industry out of China


China sees itself as assertive, but the rest of the world sees it as aggressive. With the risk of war so high, many multinationals, especially from Japan, are speeding up relocation of industry out of China. The debate continues on the motivations and risks of China’s decision on November 23 to announce an East China … Continue reading

Boeing gets $20.7 billion worth of 737 Max commitments from China


Boeing has secured commitments for around 200 of its 737 Max aircraft, the upgraded variant of its best-selling short-haul planes, from multiple Chinese customers, said two sources familiar with the deals. The deals are worth a combined $20.7 billion at list prices and must be approved by the Chinese government, a usual practice for aircraft orders … Continue reading

Australian government sees Asia as priority over US


Australian Treasurer Joe Hockey has expressed doubts the world has seen the last of the US debt impasse as he urged the United States to get its house in order and signalled a renewed focus on opening more markets in Asia as a response to ongoing instability. In an interview with Fairfax Media, Mr Hockey … Continue reading

EU-China investment pact of limited but global significance


In the debate about the transatlantic free trade agreement one issue has remained below the radar: the European Union (EU) is shortly to also commence negotiations with China. On October 18, 2013 the EU member states are set to pass the mandate for the negotiation of an international investment agreement with China. Beijing hopes that … Continue reading

China ups Venezuelan oil investments, but refuses Chavista leaders’ plea for a cash bailout


Back in April, Brazil’s Folha de SaoPaulo ran an article entitled: “The Future of Venezuela Depends on China“ and highlighted this quote:  Translation: “If Maduzo wins, he’ll have to regain the confidence of the Chinese.” – TOM O’DONNELL, petroleum consultant Indeed, it is now clear that the short-term strategy of the post-Chavez Maduro-Cabello administration was to escape the country’s severe dollar crisis … Continue reading

Australian government to drastically lower foreign investment thresholds as bargaining chip against China


Tensions within the Australian government coalition are growing, with the Nationals expected to insist on a lowering of foreign investment thresholds as Liberals push for them to be used as a bargaining chip with China. The Nationals partyroom meeting next Thursday is expected to endorse the lowering of the threshold for purchases of farmland from … Continue reading

As China workers earn more, American companies shed their optimism


It’s not that American multinationals don’t love China.  They do. But for different reasons now.  They like the growing middle class. They like the data on luxury spending and on car loving Chinese. What they don’t like is rising wages. What brought them to China in the first place, cheap and abundant labor, is no … Continue reading

History shows that Japan and China have very different futures


I’ve frequently come across the view that China is on track to become like Japan but with 10 times the population. It is a form of wishful thinking that drives a great deal of investment in China in the hope that carving out a market share will bring untold riches one day. In an example … Continue reading

Why big American businesses fail in China


If Tolstoy had written a history of foreign corporations in China, it might have started something like this: “Companies that succeed in China do so for similar reasons; every company that fails, fails in its own way.” Since China opened up to foreign investment in the late 1970s, some of America’s most powerful corporations have … Continue reading

China’s growth affects future of Europe


The EU of social welfare or of generational warfare, the continent of debt-bound economies or of knowledge-based community? Is the predatory generation in power? Why the only organised counter-narrative comes as a lukewarm Mouse Mickey – between Anonymous and Pirate party, from the Wiki-leaky to Snowden-picky. Europe’s redemption lies in the re-affirmation of the Lisbon … Continue reading

EU competing with China in Latin America


German Chancellor Angela Merkel and other EU leaders have become increasingly concerned that China’s continued rise in Latin America could squeeze out European business. China has not only increased the quantity of its exports to Latin America, but also used its economic resources to expand into the high-tech market, long considered German industry’s strong suit. … Continue reading

US investment in Australia helps both countries in China


Massive investments by the US in Australian resources projects are helping both nations develop a healthy relationship with China, says departing American ambassador Jeffrey Bleich. “People like to spin out doomsday scenarios,” Mr Bleich told The Australian in a farewell interview. “They sell books and newspapers,” he said, of the view that China and the … Continue reading

China wants fewer curbs in free trade zones to lure foreign investment


China hopes to suspend its laws governing foreign investment in proposed free trade zones, the cabinet said, in a sign the world’s second-biggest economy could open further to foreign competition. The State Council, China’s cabinet, will ask senior members of the National People’s Congress, or parliament, for the power to suspend laws and regulations governing … Continue reading

Perils of doing business in China – an Australian perspective


The perils of doing business in China have come into focus again recently, with allegations that staff from the British pharmaceutical giant GlaxoSmithKline paid $500 million in bribes over several years. Four executives from GlaxoSmithKline were arrested in July, while its British-born head of China operations has been prevented from leaving the country. There are … Continue reading

Australia and China resume free trade talks


Australia will undertake a major rethink of its investment stance towards China, with the Rudd government now prepared to discuss reducing hurdles to Chinese investment as it strives to conclude a free trade agreement with Beijing. New Trade Minister Richard Marles is preparing to fly to China for talks on the FTA and has signalled … Continue reading

Australia moves to diversify away from China under Kevin Rudd’s leadership


Australia’s second-time Prime Minister Kevin Rudd has wasted no time hammering a nail in the coffin of the China boom after ending the political career of his predecessor. Making his first press statement Wednesday night after successfully challenging Julia Gillard for the Labor Party leadership, the Mandarin-speaking Rudd said Australians must diversify away from the … Continue reading

China to build Nicaragua Canal, another Pacific-Atlantic connection


For centuries since the colonisation of the New World, entrepreneurs have dreamed of building a canal spanning Nicaragua to make it easier to tap Asia’s riches. Sixteenth century Spanish conquistador Hernan Cortes yearned to cleave the isthmus, and ever since, French, American and Dutch financiers have all made abortive, Quixotic attempts to bisect the Central … Continue reading

China destroys Belgian chocolates as trade spat intensifies


Belgians are justly proud of their nation’s reputation as one of the world’s finest chocolate producers. So when Chinese authorities announced this week that they had destroyed an unspecified amount of their chocolates because they contained toxic substances, alarm bells rang. The Belgian media was swift to point out echoes of 2008, when Beijing declared a shipment of Belgian chocolate … Continue reading

The China Syndrome


To the ham-lovers of Smithfield, Virginia, it is American weakness that explains why Chinese tycoons may soon own the giant pork producer that dominates their home town. Local hams, made from peanut-fed pigs and then hickory-smoked, first earned fame in colonial times. In Smithfield images of hogs vie with American flags as a badge of … Continue reading

Wine: China hitting the bottle!


Looks like France is waking up with a hangover and will be in need of some hair of the dog to get through China’s statement that there will be an anti-dumping probe carried out by the latter on wine exports from the EU. France’s Trade Ministry is worried and has made a public call for … Continue reading

European companies complain about China’s regulatory discrimination


An unlevel playing field in China costs European companies € 17.5 billion in missed revenues annually, according to a survey of the European Union Chamber of Commerce in China. The findings – which also highlight alleged regulatory discrimination as a key concern for these businesses – come amid rising trade tensions between China and the EU which, if intensified, … Continue reading

Chinese developer ‘rescues’ London docks with $1.5 billion deal


London Mayor Boris Johnson sealed a 1.5 billion USD deal with a Chinese property developer to turn a historic London dock into a 21st-century “Asian business port”: the Royal Albert Dock is set to become London’s third business district. The deal is believed to be worth $9bn to the UK economy, generating $35 million in business … Continue reading

While Belarus borrows, China makes money


China is building an entire city in the forests near the Belorussian capital Minsk to create a manufacturing springboard between the European Union and Russia. Belarusian President Aleksandr Lukashenko allotted an area 40 percent larger than Manhattan around Minsk’s international airport for the $5 billion development, which will include enough housing to accommodate 155,000 people, … Continue reading

China, Switzerland sign MOU on concluding Free Trade talks


In relations with China, symbols often have a greater importance than details of contracts. During the stay of Chinese Premier Li Keqiang in the Alpine country which he visited in 2010 as vice premier, Li has met political, business leaders and inked a series of important agreements. Li Keqiang held his first speech on European in … Continue reading

China loses out as Canada joins US in halting oil pipeline construction


British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers.” That’s potentially big trouble in a nation where oil exports amount to $73 billion annually and the industry employs more than 550,000 workers. It’s also a bad omen for nations, notably China, that have invested billions … Continue reading

Chinese companies claim they are ‘treated unfairly’ by Australia


China‘s state-owned companies may be deterred from investing in Australia because they are being treated unfairly, a Chinese business leader says. Chairman of the China Chamber of Commerce in Australia, Hu Shanjun, said Australia was still a popular place for Chinese groups to invest, but that could change. Mr Hu, who also heads the Bank … Continue reading

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