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☆ Xi Jinping’s Green Leap Forward - The New York Times
▼ + stars: | 2024-04-19 | by ( Jacob Dreyer | ) www.nytimes.com time to read: +1 min

He has brushed aside Deng Xiaoping’s maxim “To get rich is glorious” in favor of centralized planning and Communist-sounding slogans like “ecological civilization” and “new, quality productive forces,” which have prompted predictions of the end of China’s economic miracle. In recent years, the transition away from fossil fuels has become Mr. Xi’s mantra and the common thread in China’s industrial policies. It’s yielding results: China is now the world’s leading manufacturer of climate-friendly technologies, such as solar panels, batteries and electric vehicles. Last year the energy transition was China’s single biggest driver of overall investment and economic growth, making it the first large economy to achieve that. This raises an important question for the United States and all of humanity: Is Mr. Xi right?

Persons: Jinping, Deng, Xi Locations: China, United States

☆ Opinion | What Janet Yellen Needs to Tell China’s Leaders
▼ + stars: | 2024-04-03 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

It would be great if Treasury Secretary Janet Yellen had a copy of “The Portable Karl Marx” with her on her trip to China this week. China was “among the most unequal countries in the world” in 2018, another I.M.F. working paper released that year said. While Xi Jinping name-checks Marx, it’s clear from his behavior that what he really pursues is national greatness under the direction of the Chinese Communist Party. That’s more in line with Lenin, who believed that a “vanguard” party would lead the proletariat, than with Marx or Engels.

Persons: Janet Yellen, Karl Marx ”, Mao Zedong, Deng Xiaoping, ” Marx, Xi, Marx, it’s, Lenin, Engels Organizations: International Monetary Fund, Chinese Communist Party Locations: China, Brazil

☆ Zong Qinghou, self-made billionaire founder of top Chinese beverage brand Wahaha, dies
▼ + stars: | 2024-02-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

The self-made billionaire, who was once China’s richest man, died of an illness on Sunday at the age of 79, his company Hangzhou Wahaha Group said in a brief statement, without providing further details. Victory in that bitter battle boosted Zong’s wealth to $8 billion, making him China’s richest man in 2010 and again in 2012, according to Forbes. He was nicknamed “the richest man in cloth shoes” for always sporting plain black shoes, complete with a dark jacket and slacks. That year, Zong founded the Hangzhou Wahaha Group after acquiring a failing state-run canned food factory. The dispute was eventually settled in 2009, with Danone selling its stake for about $500 million and ceding all control to Wahaha.

Persons: Hong Kong CNN — Zong Qinghou, Zong, Forbes, Jack Ma, Lei Jun, Zong Fuli, Mao Zedong’s, ”, Deng Xiaoping, Wahaha, Danone Organizations: Hong Kong CNN, Hangzhou Wahaha, Danone, Forbes, Getty Locations: China, Hong Kong, Hangzhou, “, Guangzhou, Beijing

BEIJING (AP) — As the U.S. presidential campaign moves closer to a Donald Trump-Joe Biden rematch, China is watching uneasily. While Biden has looked for areas of cooperation with China, Beijing is concerned about his efforts to unite allies in the Indo-Pacific in a coalition against China. “For China, no matter who won the U.S. presidential election, they would be two ‘bowls of poison’,” said Zhao Minghao, a professor of international relations at Fudan University in Shanghai. When Biden and Trump squared off in 2020, U.S. intelligence agencies reported before the election that China viewed Trump as “unpredictable” and opposed his reelection. “Trump is by nature volatile and cruel and is a person hard to be familiar with,” said Shi Yinhong, international relations professor at Renmin University of China.

Persons: Donald Trump, Joe Biden, uneasily, Biden, It’s, hasn’t, ”, Zhao Minghao, Sun Chenghao, Trump, Chuan Jianguo, “ Trump, Sun Yun, Sun, Xi Jinping, Antony Blinken, Xi, Miles Yu, China's, ” Yu, Deng Xiaoping, Shi Yinhong, Shi, Wang Yiwei, ” Wang, ” Shi, ___ Tang, Yu Bing, Chen Wanqing, Eric Tucker Organizations: BEIJING, U.S, China, Trump, “, Fudan University, Center for International Security, Tsinghua University, Stimson Center, Hudson Institute, Communist Party, Renmin University of China, White, Institute of International Affairs, Associated Press Locations: China, Beijing, Taiwan, Shanghai, Asia, Pacific, Sun, Washington, Lago, Florida, City, United States, U.S

☆ Ben Rhodes: Henry Kissinger, the Hypocrite - The New York Times
▼ + stars: | 2023-11-30 | by ( Ben Rhodes | ) www.nytimes.com time to read: +4 min

Mr. Kissinger was not uncomfortable with that dynamic. From the side of the free world, Mr. Kissinger backed genocidal campaigns — by Pakistan against Bengalis and by Indonesia against the East Timorese. The generous defense is that Mr. Kissinger represented an ethos that saw the ends (the defeat of the Soviet Union and revolutionary Communism) as justifying the means. Mr. Kissinger was fixated on credibility, the idea that America must impose a price on those who ignore our demands to shape the decisions of others in the future. Mr. Kissinger lived half of his life after he left government.

Persons: Kissinger, —, Salvador Allende, Allende’s, ”, Kissinger’s, Deng Xiaoping, Henry Kissinger Organizations: East, Soviet Union, Mr, Chinese Communist Party Locations: Vietnam, Cambodia, Laos, United States, Germany, Japan, Pakistan, Indonesia, East Timorese, Chile, Soviet, America, East Pakistan, Bangladesh, Soviet Union, China, Republic of China, Tiananmen, U.S, Taiwan

☆ APEC Summit Biden Aims to Fortify Ties With Asian Nations at Summit in San Francisco
▼ + stars: | 2023-11-16 | by ( Katie Rogers | ) www.nytimes.com time to read: +12 min

Image President Xi Jinping of China spoke to a crowd of U.S. business executives at a dinner in San Francisco on Wednesday evening. “There are hundreds and hundreds of activists —” Crowd: “Go home Xi Jinping!” “— who are coming together from all corners of this nation.” “We are really upset. 1 question for us is: Are we adversaries or partners?” Mr. Xi asked. Mr. Orlins said the Chinese had prepared three versions of a speech Mr. Xi could deliver that night. After Wednesday’s events with Mr. Biden, Mr. Xi picked the friendliest one.

Persons: Xi Jinping, Carlos Barria, Xi, —, Xi Jinping doesn’t, ”, ” “, Jinping, Josh Edelson, Xi —, Mr, Tim Cook, Larry Fink, BlackRock, Jerry Brown, Elon Musk, ” John L, Holden, Biden, Doug Mills, ” Michael Hart, Jim Wilson, Angus, Gina M, Raimondo, “, Ms, “ I’m, Stephen A, United States — Deng Xiaoping, Jiang Zemin, Hu Jintao, Deng, It’s, ” Mr, Orlins, “ They’re, Jeff Chiu, Biden’s Organizations: Visit, Credit, Agence France, Hyatt Regency, Apple, Boeing, Pfizer, Nike, FedEx, Elon, McLarty Associates, San Francisco . Credit, New York Times, U.S, American Chamber of Commerce, ., Mr, National Committee, United, China Relations, Associated, U.S ., China Business Council, Economic Cooperation, Consulate Locations: China, U.S, San Francisco, Hong Kong, Tibet, United States, California, Filoli, San Francisco ., ”, Iowa, Asia, Pacific

☆ China's not-so-special economic zone embodies a harsh new reality
▼ + stars: | 2023-11-16 | by ( David Kirton | ) www.reuters.com time to read: +9 min

REUTERS/David Kirton Acquire Licensing RightsSHENZHEN, China, Nov 16 (Reuters) - Tony Xiong is among the latest arrivals to the glitzy office towers in the newest part of Shenzhen, built to showcase China's economic miracle. Office workers are not the only ones grumbling about the unattractiveness of Qianhai, a special economic zone where Chinese dreams of global financial might and economic prosperity that once seemed inevitable are now darkened by half-empty skyscrapers and shopping malls as well as barely used motorways. And that's before China's tallest skyscraper of over 1,000 metres and a cluster of other towers are completed. With China entering a new era of sluggish growth, Qianhai may never reach the international status to which it aspires. The Qianhai Authority and China's State Council Information Office did not respond to Reuters requests for comment on the local and macro economic challenges.

Persons: David Kirton, Tony Xiong, Qianhai, Knight Frank, Antonio Fatas, Deng Xiaoping's, Xi Jinping, Xi, Zhiwu Chen, incentivised, Witman Hung, I've, Brian Miller, Klaus Zenkel, it's, Bill Deng, Zhang, James Pomfret, Marius Zaharia, David Crawshaw Organizations: REUTERS, Rights, Reuters, Authority, Communist Party, University of Hong, Qianhai Authority, HSBC, UBS, Standard Chartered, Chamber of Commerce, Greater, Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, Hong Kong, Beijing, Shanghai, China's, Qianhai, University of Hong Kong, Guangzhou, Hengqin, Macau, Nansha, South China, Greater Bay Area, . Hong Kong

☆ This city never slept. Now with China tightening its grip, is the party over?
▼ + stars: | 2023-11-03 | by ( Chris Lau | ) edition.cnn.com time to read: +16 min

China’s message at the time was that even if change was coming to Hong Kong, its spirit of “anything goes” would be staying put. People gather outside a restaurant on a near-empty street in the Soho area of Hong Kong. Officials say they were “fluorescent.”A Hong Kong government spokesman told CNN this week that the activities were “well-received by local residents and tourists”. Under Hong Kong’s pandemic restrictions, live music was all but banned in small venues for more than 650 days. Months before the virus emerged, China had been tightening its grip on Hong Kong in response to pro-democracy protests that had spread throughout the city.

Persons: Hong Kong, Boy George, Grace Jones, Pete Tong, Paul Oakenfold, China’s, Deng Xiaoping, China –, Deng, Deng’s, –, Noemi Cassanelli, Hong, John Lee, “, ”, Gary Ng, Covid, Benson Wong, Wong, Lan Kwai Fong, Cassanelli, Hong Kongers, Kongers, Ng, Yan Wai, ” Yan, hasn’t, Billy H.C, Kwok, Richard Feldman, Feldman, Becky Lam, ” Lam, “ They’ll, ” Feldman, Kwai Fong, Marco Chan, Chan, ” Allan Zeman, Allan Zeman, Lan, CNN “ They’ll, they’ll, Lam, Hong Kong’s Organizations: Hong Kong CNN, East, West, Britain, Occupy Central, National Security, Michelin, CNN, Hong, Tai Hang, National, Hong Kong Wine, HKSAR, Immigration Department, Chinese University of Hong, Soho Association, Netflix, “, Lan Kwai Fong Group, Hong Kong, Shady Locations: China, Hong Kong, Asia, Hong, Soho, Japan, Singapore, Tai, Thailand, Lan Kwai, expats, Britain, Canada, Australia, Natixis, Chinese University of Hong Kong, Lan, revelers, California, Central, Shenzhen, Hong Kong’s Central, Bangkok, Shanghai, Taipei, Petticoat

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ Analysis: China's economic woes embolden calls for deeper reforms
▼ + stars: | 2023-09-21 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

Both camps argue their proposals should be treated with urgency by policymakers, ahead of the annual Central Economic Work Conference, an agenda-setting gathering of top leaders expected in December. The pro-reform camp is beating the drum for faster structural reforms, including relaxing the system of residence permits, or "hukou", to spur consumption, removing market entry barriers for private firms at the cost of state giants. Reforms are urgently needed as growth engines such as property, exports and infrastructure are stalling, he said. Structural reforms with expansionary effects can also have immediate effects." TIGHTROPEDespite the heated debate, analysts expect Chinese leaders can walk a tightrope between stimulus and reforms.

Persons: Tingshu Wang, Yu Yongding, Yu, Kristalina Georgieva, Liu Shijin, Liu, It's, Tao Wang, Deng Xiaoping, Yi Xianrong, Kevin Yao, Sam Holmes Organizations: Central Business, REUTERS, Economic Work Conference, Reuters, International Monetary Fund, Fund, UBS, Asian Development Bank, Qingdao University, Thomson Locations: Beijing, China, BEIJING, China's, United States

☆ China's economic woes embolden calls for deeper reforms
▼ + stars: | 2023-09-21 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

Structural reforms with expansionary effects can also have immediate effects." TIGHTROPEDespite the heated debate, analysts expect Chinese leaders can walk a tightrope between stimulus and reforms. Rob Subbaraman, chief economist at Nomura, said short-term stimulus would spur growth but at the cost of worsening structural distortions. Meanwhile, structural reforms would bring short-term pain and take longer to boost activity, but produce higher quality, sustainable growth over time. "China needs both, whereas it is where it is now because historically it's relied more on policy stimulus than on the harder structural reforms," he said.

Persons: Tingshu Wang, Yu Yongding, Yu, Kristalina Georgieva, Liu Shijin, Liu, It's, Rob Subbaraman, Deng Xiaoping, Yi Xianrong, Kevin Yao, Sam Holmes Organizations: Central Business, REUTERS, Economic Work Conference, Reuters, International Monetary Fund, Fund, Nomura, Asian Development Bank, Qingdao University, Thomson Locations: Beijing, China, BEIJING, China's, United States

China’s Foreign Ministry said Beijing was “strongly dissatisfied” with Baerbock’s comments and “firmly opposes” them. “The remarks made by Germany are extremely absurd, seriously infringe on China’s political dignity, and are an open political provocation,” Chinese foreign ministry spokesperson Mao Ning said at a regular news briefing on Monday. The Chinese Foreign Ministry often leaves out content it deems sensitive from the transcripts of its regular briefings. In June, US President Joe Biden also referred to Xi as a “dictator,” sparking a fierce backlash from Beijing. As a result of this and China’s political decisions, we need to change our approach to China,” the paper said.

Persons: Xi, ”, Berlin’s, Annalena Baerbock, “, Putin, Germany’s, Patricia Flor, Mao Ning, Xi –, Joe Biden, Jiang Zemin, Mike Wallace, Jiang, Deng Xiaoping, Mao Zedong’s, Angela Merkel, Baerbock Organizations: CNN, Fox News, China’s, Ministry, Chinese Foreign Ministry, CBS, South China, Germany’s Greens Locations: China, Germany, United States, Ukraine, Beijing, Berlin, Moscow, Taiwan, South, “ China, Australian

☆ Some foreign finance execs in China spending nearly a third of their working time studying 'Xi Thought,' report says
▼ + stars: | 2023-09-17 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

The study of 'Xi Jinpeng Thought' in state-owned Chinese companies has been mandated. But now employees of foreign firms are being pulled into the 'study sessions' as well. First published in 2017, Xi Jinping thought lays out 14 principles by which China will prosper. China's President Xi Jinping Lintao ZhangIn addition to the pressure to study of Xi's doctrine, new laws have limited international banks' abilities to operate as normal in China. "Foreigners and foreign organisations in mainland China shall comply with Chinese law and must not endanger China's national security, harm the societal public interest, or undermine societal public order,'" the law states, per The FT.

Persons: Franklin Templeton, Xi, Xi Jinping, Mao Zedong, Deng Xiaoping, Jiang Zemin, Xi Jinping Lintao Zhang Organizations: CCP, Service, Blackrock, Bloomberg, BlackRock, Marxist, Deloitte Locations: Wall, Silicon, China

Like his predecessors, Xi wields power through his control of the Communist Party, the military and the government. One-Man Party Xi overturned term limits, erased factions and installed loyalists to establish sweeping control of the Communist Party. When Xi first took power in 2012, few in the Politburo Standing Committee, the most powerful group in China, had close ties with him. Party leaders often set broad policy, and government ministries and agencies refined and implemented their goals, sending feedback to the leaders. You Are Being Watched The world’s biggest and most pervasive surveillance system ensures that nobody can easily challenge the power Xi has amassed.

Persons: Xi, Mao, Deng, –, Deng Xiaoping, Alibaba, Jack Ma Organizations: Communist Party, Man, Companies Locations: China

☆ Opinion | Why Is China in So Much Trouble?
▼ + stars: | 2023-08-31 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

The narrative about China has changed with stunning speed, from unstoppable juggernaut to pitiful, helpless giant. My sense is that much writing about China puts too much weight on recent events and policy. For three decades, after Deng Xiaoping took power in 1978 and introduced market-based reforms, China experienced an enormous surge, with real gross domestic product increasing more than sevenfold. This surge was, to be fair, only possible because China started out technologically backward and could rapidly increase productivity by adopting technologies already developed abroad. Since the late 2000s, however, China seems to have lost a lot of its dynamism.

Persons: Xi Jinping, Deng Xiaoping Organizations: Monetary Fund Locations: China

☆ Billionaire investor Ray Dalio says India's moon landing demonstrates its economic 'ascendance'
▼ + stars: | 2023-08-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Ray Dalio heralded India's economic potential following its moon landing on Wednesday. The Chandrayaan-3 landing was "one of many straws in the wind showing its ascendance," he said. "India's successful lunar mission ... is another one of many straws in the wind showing its ascendance," Dalio said in a post on X. The landing meant India became the first country to reach what is thought to be the most water-rich region on the moon – beating Russia, China, and the US. Dalio has hailed India as the next big global investing opportunity previously amid worsening relations between Washington and Beijing.

Persons: Ray Dalio, Dalio, Deng Xiaoping, Narendra Modi, Elon Musk, Goldman Sachs Organizations: Service, Bridgewater Associates, Indian, Elon Locations: Bridgewater, India, Wall, Silicon, China, Russia, Washington, Beijing

☆ Biden resists pressure from lawmakers and seeks short extension to key China science pact
▼ + stars: | 2023-08-24 | by ( Jennifer Jett | Abigail Williams | ) www.cnbc.com time to read: +4 min

The Biden administration is seeking a short-term extension to a landmark science and technology agreement with China despite pressure from some U.S. lawmakers who say Beijing could exploit it to gain a security and military advantage. A six-month extension to the Science and Technology Agreement, or STA, will keep the pact in force as the U.S. seeks "authority to undertake negotiations to amend and strengthen the terms," a State Department spokesperson told NBC News on Wednesday. "If it were to go away, not only would it impede government-to-government cooperation, but it would also put other science cooperation at risk," said Seligsohn, a former environment, science, technology and health counselor at the U.S. Embassy in Beijing. China also considers it the enabling document for all other science cooperation with the U.S., including with academic and research institutions. The State Department spokesperson said it was aware of the issues involved with working with China in the are of science and technology.

Persons: Biden, Jimmy Carter, Deng Xiaoping, Deborah Seligsohn, Antony Blinken, Elise Stefanik, Mike Gallagher of, Blinken, Sen, Rick Scott, Donald Trump Organizations: Central South University, Science, Technology, State Department, NBC News, U.S, Villanova University, Embassy, House Republican Conference Locations: China, Central, Changsha city, Hunan province, Beijing, U.S, New York, Mike Gallagher of Wisconsin, United States

Xinhua/Shutterstock‘Absolutely safe’As heavy rains moved toward the region in late July, China’s top flood control officials met to hash out their response plan. The flood was caused by flood water discharge, not by heavy rainfall.”CNN has reached out to the Zhuozhou and Bazhou governments for comment. Rescuers use rubber boats to transfer Zhuozhou residents trapped by flood waters after days of downpours brought by Typhoon Doksuri on August 2. In the recent rains, at least three upstream reservoirs released flood waters into rivers flowing into Baiyingdian from the west and the south, according to state media. Many countries have systems that involve discharging pent up flood waters into otherwise dry land after major storms.

Persons: Xi Jinping, Xi’s, ”, It’s, Xiong’an, Jade Gao, Ni Yuefeng, downpours, Typhoon Doksuri, Zhai Jujia, Li Guoying, Hongzhang Xu, Xiao, Li Na, Zhu Xudong, it’s, Xiong’an –, Xu, Baiyangdian Lake, Kevin Frayer, “, Meili Feng, Simon Song, Deng Xiaoping, Jiang Zemin, Xu Kuangdi, Yi Haifei, Andrew Stokols Organizations: CNN, Xinhua, Getty, Censors, China News Service, China’s, Water, Australian National University, Authorities, China’s Ministry of Water Resources, Hebei Provincial Department of Water Resources, Geographical Sciences, University of Nottingham, Shanghai’s Pudong New, Chinese Academy of Sciences, Urban Computing Center Locations: Beijing, China, Hebei, Xiong’an’s, Xiong'an, Zhuozhou, AFP, Bazhou, Xiong’an, Tianjin, ”, Xinhua, Baiyingdian, Baiyangdian, Mississippi, University of Nottingham Ningbo, “, Hebei province, Shenzhen, Shanghai’s Pudong, Shanghai

A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Sources have told Reuters the Biden administration is likely to adopt new outbound investment restrictions on China in the coming weeks. Japan, the U.S. and Europe have already restricted the sale of high-tech chipmaking tools to Chinese companies while China has hit back by throttling exports of raw materials. To be sure, investment flows often fluctuate and many firms aren't leaving China completely or aren't leaving at all. "A lot of our clients are worried about their exposure to China as a sole country of supply."

Persons: Carlos Barria, Deng Xiaoping, Logan Wright, Biden, John Ramig, Buchalter, Daniel Seeff, Cardigan, Chi Lo, Lee Smith, Baker Donelson, Samuel Shen, Tom Westbrook, Winni Zhou, Jacqueline Wong Organizations: REUTERS, Corporate, China Markets, China's, Administration of Foreign Exchange, Investors, Reuters, Oxford Economics, Ministry of Commerce, Management, Thomson Locations: Pudong, Shanghai, SHANGHAI, SYDNEY, China, Japan, U.S, Europe, Haining, Peru, Hong Kong, Baker, Singapore

☆ The one thing Elon Musk, Ray Dalio, Apple and Goldman Sachs agree on: India
▼ + stars: | 2023-07-30 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

The nation's booming tech scene, buoyant stock market, and youthful population are just some of the factors going for it. Billionaire investor Ray Dalio has said the country is ready for rapid growth, while Elon Musk has highlighted the prospect of Tesla building a factory there. Apple CEO Tim Cook has also voiced his optimism toward India, while Goldman Sachs predicts the South Asian economy to surpass the US in size by 2075. Goldman Sachs expects the South Asian nation's GDP to surge to $52.5 trillion by then, from $3.4 trillion at the end of 2022. His sanguineness toward India has seen Apple open its first two stores in the country earlier this year.

Persons: Ray Dalio, Elon Musk, Tim Cook, Goldman Sachs, Here's, Tesla, Musk, Narendra Modi, Modi, Dalio, Deng Xiaoping, Mark Mobius, Mobius, —, He's Organizations: Service, Billionaire, Apple, Wall, Elon, Twitter, Reuters, Bridgewater Associates, Bloomberg, Big Tech Locations: India, Wall, Silicon, China, Washington, Beijing

☆ Billionaire Ray Dalio hails India as the next big investing opportunity, saying its economy is on the verge of a China-style rapid surge
▼ + stars: | 2023-06-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Ray Dalio praised India's economic potential Thursday after meeting with the country's prime minister Narendra Modi. The Asian country is "at the brink of the fastest growth rates and biggest transformations in the world," the billionaire investor said. Tesla CEO Elon Musk also met Modi this week, pledging to ramp up the EV maker's presence in India. Legendary investor Mark Mobius also said he was bullish on investing in India – which logged strong GDP growth of 7.2% last year – this week. Read more: Legendary emerging markets investor Mark Mobius — who's known for his bullish views on China — is now setting his sights on India

Persons: Ray Dalio, Narendra Modi, Elon Musk, Modi, —, Dalio, Deng Xiaoping, Mark Mobius, Mobius Organizations: Service, Bridgewater Associates, Twitter, Mobius Capital Partners, Bloomberg Locations: India, Washington, Beijing, China

☆ Why Hong Kong can’t cut loose from the US dollar just yet
▼ + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar. The Hong Kong Monetary Authority (HKMA) is committed to keeping the Hong Kong dollar between 7.75 and 7.85 per greenback. People walk past the Hong Kong Monetary Authority (HKMA) on May 4, 2023, in Hong Kong, China. “Pegging the Hong Kong dollar to the US dollar encourages such transactions to be carried out in Hong Kong and under Hong Kong law, even if neither party is based in Hong Kong.”This helps to create jobs and prosperity in Hong Kong, while also benefiting mainland China.

Persons: Hong, hasn’t, Andy Xie, ” Logan Wright, Bill Ackman’s, Ackman, Wright, Peter Parks, Kong, Deng Xiaoping, Margaret Thatcher, outflows, Chi Lo, Chen Yongnuo, Hong Kong’s, ”, Richard Cookson ,, Boaz Weinstein, Daniel Fung, Rhodium’s Wright, Xie, Eddie Yue, Banks, John Greenwood, “, Greenwood, ” Greenwood Organizations: Hong Kong CNN, British, Hong, Traders, Hong Kong, Bill Ackman’s Pershing, Capital Management, Getty, Lehman Brothers, Hong Kong Monetary Authority, US Federal Reserve, Asia Pacific, BNP, Asset Management, Fed, China News Service, Rubicon Fund Management, Bloomberg, Saba Capital Management, National Security Law, CNN Locations: Hong Kong, United States, China, Hong, Beijing, AFP, Britain, “, ”, Riding

☆ China's Tiananmen Square demonstrations and crackdown
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +4 min

Tanks rolled into the square before dawn on... Read moreJune 4 (Reuters) - Sunday is the 34th anniversary of China's bloody crackdown on pro-democracy demonstrations in and around central Beijing's Tiananmen Square, when Chinese troops opened fire on their own people. April 17: Protests begin at Tiananmen Square, with students calling for democracy and reform. May 13: Hundreds of students begin a hunger strike on Tiananmen Square. May 30: Students unveil a 10-metre (33 ft) high "Goddess of Democracy", modelled on the Statue of Liberty, in Tiananmen Square. June 5: An unidentified Chinese man stands in front of a tank convoy leaving Tiananmen Square.

Persons: Read, Hu Yaobang, Mikhail Gorbachev, Gorbachev, Zhao Ziyang, Li Peng, Wen Jiabao, Zhao, Li, Butcher, Yuan Mu, Deng Xiaoping, Ben Blanchard, Robert Birsel Organizations: Communist Party, of, Asian Development Bank, People, Paramount, Thomson Locations: Tiananmen, Beijing, China, Xian, Changsha, Shanghai, Great

☆ Strongmen are riskier the more they stay in power
▼ + stars: | 2023-05-22 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

The longer authoritarian leaders stay in power, the greater the risk they will make decisions that damage their economies. For example, the Turkish stock market rose nine-fold in dollar terms during Erdogan’s first decade in charge. Similarly, the Russian stock market rose five-fold in dollar terms during Putin's first 14 years in the Kremlin. Xi’s zero-Covid policy meant the Chinese economy had a bad year in 2022 when the rest of the world was rebounding. In the last nine years, the stock market has lost nearly 20% of its value in dollar terms.

☆ Analysis: China's Xi takes 'diplomatic dance' to isolated Russia
▼ + stars: | 2023-03-18 | by ( John Geddie | ) www.reuters.com time to read: +5 min

"There's been kind of an increasingly pronounced diplomatic dance on China's part as the war has played out," said Andrew Small, senior fellow at the German Marshall Fund. The U.S. and European leaders have said intelligence showed China was considering sending arms to Russia, which Beijing has denied. Xi called Putin his "best friend" during a 2019 visit where they admired pandas in a Moscow zoo. It is not clear if there will be any such photo ops this time amid more serious business and the bloody Ukraine war. "Whatever support Xi gives to Russia will be on China’s terms," another European diplomat said.

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