China Archives - Page 36 of 54

Will a Weaker RMB Necessarily Aid the Chinese Economy?: Michael Pettis

As part of China’s adjustment process, it is a virtual certainty that domestic growth will slow significantly for many years. However, many analysts argue that by boosting China’s export competitiveness abroad, a weaker RMB will provide some relief from the sharp expected slowdown associated with rebalancing. But such claims are invalid: China’s export competitiveness will deteriorate no matter what Beijing does to the currency. Why?

China Slowdown Could Translate to Better Quality Growth

China is slowing down but that may not necessarily be a bad thing. China’s economic transformation could probably mean better quality growth, according to Goldman Sachs economist Jim O’Neill.

His comments came as China released yet another set of disappointing trade data in August, raising concerns of a “hard landing” in the world’s second largest economy.

Making Sense of China’s Mixed Signals

The Chinese economy is no longer blistering hot but it has been sending out mixed signals about its state of health. From deteriorating manufacturing output and falling prices to unexpected rebounds the following month, how can we make sense of Chinese contradicting economic reports?

Is There Any Credibility Left In China’s Bull Case?: Michael Pettis

In order to argue that we will not see a sharp slowdown in Chinese growth, it is not enough to claim that some expert or institution has predicted that Chinese growth will not slowdown. Neither can we hold on to the argument that China has enough savings in its coffers to bail itself out of a crisis. Nor can we assert that Beijing leaders cannot tolerate growth below 8 percent, so of course growth will not drop below 8 percent. As greater evidence for the bear camp surfaces, China bulls need stronger justifications for their positions or risk losing credibility.

Chinese Banks Snub IMF, World Bank Meetings To Be Held In Tokyo: WSJ

Several major Chinese banks have pulled from annual meetings of the International Monetary Fund (IMF) and World Bank to be held in Tokyo next week, claimed a report by the Wall Street Journal on Tuesday, with the territorial dispute between China and Japan now threatening to spill onto the global arena.

China Central Bank Makes Record $46 Billion Injection Into Money Markets

The People’s Bank of China (PBOC), China’s central bank, added a record 290 billion yuan ($45.96 billion) into its financial system on Tuesday, reported Reuters, through a series of reverse bond repurchase agreements aimed at easing a potential cash crunch coming from an upcoming week-long holiday.

China’s Rich Are Getting Poorer

The number of billionaires in China has fallen for the first time in seven years amid the country’s worsening property and stock market slump, according to the Hurun Research Institute.

The number of billionaires in China fell to 251 this year, down 20 from last year, but still significantly higher than six years ago when there were only 15 billionaires.

At the same time, the average wealth of the Hurun Top 1,000 has fallen 9 percent to US$860 million, though that amount still almost doubles that of 2008 when it was US$439 million.

China Opens Library In Tanzania To Teach “Chinese History & Reality”

China’s State Council’s Information Office opened a “China Library” in Tanzania’s capital of Dar es Salaam on Monday, as part of a “cultural exchange” between the two nations aimed at helping “Tanzanian people to learn about Chinese history and reality.”

Senior Chinese Government Advisor Calls For ‘Economic Attack’ On Japan

A senior advisor to the Chinese government has called on authorities to impose “tough measures” on Japan, such as sanctions and bond market manipulation, so as to force Tokyo to reverse its decision to nationalise the disputed Senkaku/Diaoyu islands.

China’s Luxury Market Affected By Fewer Chinese Men Taking Up Mistresses: Report

The waning social practice of married, wealthy, Chinese men with “second wives or girlfriends” may be having a negative impact on luxury goods sales in China, claimed a report by CNBC on Tuesday, after several luxury brands also warned of declining profits amid China’s economic slowdown.