Showing posts with label Xi Jinping. Show all posts
Showing posts with label Xi Jinping. Show all posts
Sunday, February 6, 2022
Monday, June 6, 2016
US - China Dialogue Begins in Beijing
Chinese President Xi Xinping opened the new round of the US-China dialogue with remarks seeking to alleviate tension between the two countries over the South China Sea,80% of which China considers to be its territorial waters.He wants to see confrontation eased in the region.China and the US should talk more often to reduce tension and build more trust.The vast Pacific should be a stage for inclusive cooperation,not a stage for competition,Mr.Xi said.The Pacific shouldn't be a battlefield for different parties.*
Economically,China wants tariffs removed from cold rolled steel;and it wants market economy status,having signed on to the World Trade Organisation 15 years ago.In that status,it would be more difficult for other countries to punish China with tariffs.Mr.Xi also wants an investment treaty.*
Nonetheless,questions are being raised about China's intentions with regard to Scarborough Shoal in the South China Sea,which it claims along with Taiwan and the Philippines.Will China build a military airstrip there as it has in the Spratly Islands?
Economically,China wants tariffs removed from cold rolled steel;and it wants market economy status,having signed on to the World Trade Organisation 15 years ago.In that status,it would be more difficult for other countries to punish China with tariffs.Mr.Xi also wants an investment treaty.*
Nonetheless,questions are being raised about China's intentions with regard to Scarborough Shoal in the South China Sea,which it claims along with Taiwan and the Philippines.Will China build a military airstrip there as it has in the Spratly Islands?
Monday, April 8, 2013
Asia This Day:Xi Jinping Addresses Forum;After Hours Futures Trading Begins
A major bilateral conference,the Boao Forum for Asia Annual Conference 2013,has been taking place in the coastal town of Boao on South China's Hainan Island Province.It started Saturday and concludes today,Monday,April 8.The theme of the conference is "Asia Seeking Development for All:Restructuring,Responsibility and Cooperation."
New Chinese President Xi Jinping made a keynote address at the gathering.He said it has become an important forum with growing global influence and a new starting point.He hopes it will scale an ever greater height.
It is Mr.Xi's first multilateral diplomatic meeting in China since his election in March.He recently completed his first foreign trip to Russia,Tanzania,South Africa and Congo.He also attended the fifth BRICS Summit in Durban,South Africa,portraying China as unswervingly following a path of peaceful development.
At the Boao Forum,Mr.Xi warned that no one should be allowed to throw a region into chaos for selfish gains.Although growing interaction inevitably leads to friction,it is important that countries resolve differences through dialogue-remarks taken to be references to North Korea's recent barrage of bellicose rhetoric and military moves aimed at South Korea and its US ally.
The more China grows,the more development opportunities it will create for Asia and the world.In the next five years,China's imports will reach around 10 billion dollars,and its outbound investment will reach 500 billion,Mr.Xi predicted.Its outbound tourists may exceed 400 million.
China will continue to properly handle differences and frictions with relevant nations,while upholding its sovereignty,security and territorial integrity-i.e.,Taiwan belonging to China,as well as disputed islands in the South China sea.
The real challenge is to broaden and deepen the cooperation we've seen happen in Asia,said Stephen Groff,Vice President of the Asia Development Bank.The ADP has stepped up its presence in Myanmar,which has been on a course of liberalisation of late.Myanmar may become a middle income nation.
We're quite confident that we're gonna see strong economic growth in the Philippines.It needs a lot of work to build the manufacturing sector to provide the kind of jobs that the people need there,Mr.Groff observed.
The Hong Kong Stock Exchange has introduced after hours futures trading.This will be from 5pm to 11pm local time.That way,traders can adjust their positions to late-breaking developments.Small brokers are complaining the change could put them out of business.The exchange replied that they are not in the business of increasing everyone's profits.
The MSCI Asia-Pacific index was flat in early Monday trading,but Japan's Nikkei average rose 2.3% on the Bank of Japan announcing another round of bond-buying.
New Chinese President Xi Jinping made a keynote address at the gathering.He said it has become an important forum with growing global influence and a new starting point.He hopes it will scale an ever greater height.
It is Mr.Xi's first multilateral diplomatic meeting in China since his election in March.He recently completed his first foreign trip to Russia,Tanzania,South Africa and Congo.He also attended the fifth BRICS Summit in Durban,South Africa,portraying China as unswervingly following a path of peaceful development.
At the Boao Forum,Mr.Xi warned that no one should be allowed to throw a region into chaos for selfish gains.Although growing interaction inevitably leads to friction,it is important that countries resolve differences through dialogue-remarks taken to be references to North Korea's recent barrage of bellicose rhetoric and military moves aimed at South Korea and its US ally.
The more China grows,the more development opportunities it will create for Asia and the world.In the next five years,China's imports will reach around 10 billion dollars,and its outbound investment will reach 500 billion,Mr.Xi predicted.Its outbound tourists may exceed 400 million.
China will continue to properly handle differences and frictions with relevant nations,while upholding its sovereignty,security and territorial integrity-i.e.,Taiwan belonging to China,as well as disputed islands in the South China sea.
The real challenge is to broaden and deepen the cooperation we've seen happen in Asia,said Stephen Groff,Vice President of the Asia Development Bank.The ADP has stepped up its presence in Myanmar,which has been on a course of liberalisation of late.Myanmar may become a middle income nation.
We're quite confident that we're gonna see strong economic growth in the Philippines.It needs a lot of work to build the manufacturing sector to provide the kind of jobs that the people need there,Mr.Groff observed.
The Hong Kong Stock Exchange has introduced after hours futures trading.This will be from 5pm to 11pm local time.That way,traders can adjust their positions to late-breaking developments.Small brokers are complaining the change could put them out of business.The exchange replied that they are not in the business of increasing everyone's profits.
The MSCI Asia-Pacific index was flat in early Monday trading,but Japan's Nikkei average rose 2.3% on the Bank of Japan announcing another round of bond-buying.
Monday, March 25, 2013
Asia This Day:Markets Rally On Cyprus Deal;World Trade Challenges
A tentative resolution of the Cyprus problem has been agreed,and the prospect of a bailout for the tiny yet significant nation has sent Asian shares higher in early Monday trading.India's Nifty Fifty index was up 0.86%,and the Sensex index rose 0.82%.US stock index futures were also higher,along with oil futures,while gold futures fell,as did Treasury bond futures.
At a China development conference this weekend,World Trade Organisation Director General Pascal Lamy said the full globalisation of China's trade won't be without challenges.The new Chinese leadership under President Xi Jinping seems to be headed in the right direction on improving market access to China.I heard them saying we want to keep China opening its market,we want to keep internationalising the Chinese economy.
This will be challenging,however,as it faces resistance from domestic players who will not always welcome foreign competition.We want to grow our exports,but we also know we have to grow our imports.This obligates the domestic players to increase their quality and productivity.
Overall,this opening up has worked for China,but that doesn't mean it will happen in a painless way.What is painless is often inefficient,but what is efficient is sometimes painful.
The WTO's influence waned when the Doha Round of trade talks that began in 2001 floundered over the next 10 years.They failed to resolve a rift between developed and developing countries,but new WTO talks have begun.This time,instead of negotiating a big bundle of 20 topics,it is being done slice by slice,bit by bit.
The stumbling blocks in the old talks were US-China differences.No WTO Director General can push the US and China to agree on something if they don't agree,and this is what happened.
A very important negotiation is going on regarding customs standardisation,which would reduce the cost of cross-border trade.We have a problem moving the rule book forward so another layer of trade liberalisation happens,Mr.Lamy observed.
In other regional developments:
The HSBC flash China Purchasing Managers Index for March came in at 51.7,indicating a rebound in Chinese manufacturing.
Luxury retailer Tiffany saw a 13% increase in jewelry sales in the Asia Pacific region ex-Japan.
Goldman Sachs has raised its growth forecasts for the US and Japan.
Tiffany(TIF)
At a China development conference this weekend,World Trade Organisation Director General Pascal Lamy said the full globalisation of China's trade won't be without challenges.The new Chinese leadership under President Xi Jinping seems to be headed in the right direction on improving market access to China.I heard them saying we want to keep China opening its market,we want to keep internationalising the Chinese economy.
This will be challenging,however,as it faces resistance from domestic players who will not always welcome foreign competition.We want to grow our exports,but we also know we have to grow our imports.This obligates the domestic players to increase their quality and productivity.
Overall,this opening up has worked for China,but that doesn't mean it will happen in a painless way.What is painless is often inefficient,but what is efficient is sometimes painful.
The WTO's influence waned when the Doha Round of trade talks that began in 2001 floundered over the next 10 years.They failed to resolve a rift between developed and developing countries,but new WTO talks have begun.This time,instead of negotiating a big bundle of 20 topics,it is being done slice by slice,bit by bit.
The stumbling blocks in the old talks were US-China differences.No WTO Director General can push the US and China to agree on something if they don't agree,and this is what happened.
A very important negotiation is going on regarding customs standardisation,which would reduce the cost of cross-border trade.We have a problem moving the rule book forward so another layer of trade liberalisation happens,Mr.Lamy observed.
In other regional developments:
The HSBC flash China Purchasing Managers Index for March came in at 51.7,indicating a rebound in Chinese manufacturing.
Luxury retailer Tiffany saw a 13% increase in jewelry sales in the Asia Pacific region ex-Japan.
Goldman Sachs has raised its growth forecasts for the US and Japan.
Tiffany(TIF)
Monday, March 4, 2013
Asia This Day:China Reins In Property Market;National Party Congress Convenes
The Shanghai property index was down 8.53% in early Monday trading,with some shares dropping as much as 10% on news of new government restrictions on the sector.It was the worst decline in five years.
The property market has really taken off,according to Jing Ullrich,Chairman of JP Morgan Global Markets China,triggering government concern about social inequality and the middle class.I think buyers may slink to the sidelines again.
Property is the one area the middle class can stash their wealth.The rising income of the middle class has stoked prices.
Property prices are hardly affordable for newcomers.There may be declines for the next three months,but in the long term,urbanisation and income growth are still very positive for the property sector.There may be a great deal of volatility in the next month or two as the new measures are applied.
This year should be a better year for the stock market than 2012.In the near term,Hong Kong shares should hold up better than the mainland,being supported by international investors,but the mainland shares are cheaper.People need to think about China concept stocks such as those of multinational firms doing business in China.They could make double digit gains.
The National Party Congress in Beijing will be attended by 3,000 delegates over the next 10 days.Xi Jinping will be formally named President.There should be social services and urbanisation developments.Big ministries may be reshuffled.There may be financial services reform to create more of a level playing field between State-Owned Enterprises and Small and Medium-sized Enterprises,and to make the financial services industry globally competitive.
About 280 million migrant workers live in Chinese cities without social benefits.Only those born in cities have medical care.Migrant workers do not have benefits.They are second class citizens.
The Indian Nifty Fifty and Sensex indexes were both down in early Monday trading.There was a lot of pressure on auto stocks from poor February sales.Asia shares generally were down on the new Chinese property market restricitons.
Australian company profits declined,led by mining and manufacturing,as commodity prices fell.
iShares FTSE China 25 Index Fund(FXI)
The property market has really taken off,according to Jing Ullrich,Chairman of JP Morgan Global Markets China,triggering government concern about social inequality and the middle class.I think buyers may slink to the sidelines again.
Property is the one area the middle class can stash their wealth.The rising income of the middle class has stoked prices.
Property prices are hardly affordable for newcomers.There may be declines for the next three months,but in the long term,urbanisation and income growth are still very positive for the property sector.There may be a great deal of volatility in the next month or two as the new measures are applied.
This year should be a better year for the stock market than 2012.In the near term,Hong Kong shares should hold up better than the mainland,being supported by international investors,but the mainland shares are cheaper.People need to think about China concept stocks such as those of multinational firms doing business in China.They could make double digit gains.
The National Party Congress in Beijing will be attended by 3,000 delegates over the next 10 days.Xi Jinping will be formally named President.There should be social services and urbanisation developments.Big ministries may be reshuffled.There may be financial services reform to create more of a level playing field between State-Owned Enterprises and Small and Medium-sized Enterprises,and to make the financial services industry globally competitive.
About 280 million migrant workers live in Chinese cities without social benefits.Only those born in cities have medical care.Migrant workers do not have benefits.They are second class citizens.
The Indian Nifty Fifty and Sensex indexes were both down in early Monday trading.There was a lot of pressure on auto stocks from poor February sales.Asia shares generally were down on the new Chinese property market restricitons.
Australian company profits declined,led by mining and manufacturing,as commodity prices fell.
iShares FTSE China 25 Index Fund(FXI)
Sunday, February 19, 2012
Asian Markets Open For Business-issue 2
Asian markets were opening higher across the board this morning,Monday.The MSCI Asia Pacific Index rose 0.92 on optimism for a Greek debt settlement in Brussels today,as well as China's relaxation of bank reserve requirements,freeing up capital for lending.
The People's Bank of China lowered the reserve ratio requirements by 50 basis points effective Friday,24 February.The cut is expected to add 64 billion dollars to the system.The reserve requirements were last eased in November 2011.
Thailand's flood-related losses were even more devastating than previously thought.Thai GDP fell 10.7% in Q4,when it had been expected to fall just 5.0%.The Thai economy grew a minuscule 0.10% in 2011 because of the deluge.
India's stock market is closed today for the Maha Shivrati holiday,while the U.S. market is shuttered for Presidents' Day.
China's Vice President Xi Jinping signed an agreement at the end of last week's visit to the U.S. permitting a substantial increase in the number of Hollywood films allowed into China from about 20 to 34 a year.As well,the revenue allowed to U.S. filmmakers from IMAX films will be raised from 13-25%.Mr.Xi's visit is being hailed as successful in both countries.He is expected to become President in 2013 and lead China for the next 10 years.
Dreamworks Animation is opening a studio in China with two Chinese partners.The 330 million dollar complex will be built in Shanghai.
Japan posted a record trade deficit.Exports were down 9.3% on the year,while imports rose 9.8%.Tokyo says the figure is a temporary decline in exports.
The People's Bank of China lowered the reserve ratio requirements by 50 basis points effective Friday,24 February.The cut is expected to add 64 billion dollars to the system.The reserve requirements were last eased in November 2011.
Thailand's flood-related losses were even more devastating than previously thought.Thai GDP fell 10.7% in Q4,when it had been expected to fall just 5.0%.The Thai economy grew a minuscule 0.10% in 2011 because of the deluge.
India's stock market is closed today for the Maha Shivrati holiday,while the U.S. market is shuttered for Presidents' Day.
China's Vice President Xi Jinping signed an agreement at the end of last week's visit to the U.S. permitting a substantial increase in the number of Hollywood films allowed into China from about 20 to 34 a year.As well,the revenue allowed to U.S. filmmakers from IMAX films will be raised from 13-25%.Mr.Xi's visit is being hailed as successful in both countries.He is expected to become President in 2013 and lead China for the next 10 years.
Dreamworks Animation is opening a studio in China with two Chinese partners.The 330 million dollar complex will be built in Shanghai.
Japan posted a record trade deficit.Exports were down 9.3% on the year,while imports rose 9.8%.Tokyo says the figure is a temporary decline in exports.
Subscribe to:
Posts (Atom)