China’s Xi Jinping revives Maoist call for ‘self-reliance’

Chinese President Xi Jinping has invoked a long discarded Maoist slogan to call on state-owned enterprises to make advanced components that are now mostly imported.  Even as Mr Xi has sought to position China as a champion of globalisation amid the US retreat into protectionism, the call for “self-reliance” highlights how Mr Xi is also […]

A Fifth of China’s Homes Are Empty. That’s 50 Million Apartments

Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country. Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. […]

Chinese economists blame ‘China model’ for US trade war

Two leading intellectuals argue state capitalism sparked western backlash. Two prominent Chinese economists have broken with Communist party orthodoxy, arguing that the trade war with the US is the result of Beijing’s state-led development model rather than Donald Trump’s attempt to block China’s rise.  The criticisms highlight the split between the reform and statist-minded camps among […]

As Russia pivots to the east, trade with China is booming

Trade turnover between Russia and China has been rapidly growing, rising 30 percent to reach $77 billion from January to September, statistics from China’s General Administration of Customs show. The volume of exports from China to Russia has grown by almost 13 percent, exceeding $35 billion. Imports of Russian goods surged by around 40 percent […]

US threatens to block trade talks with China at G20

The US Treasury secretary has warned China not to engage in competitive devaluations of the renminbi as the two countries spar over their economic relations and engage in an escalating trade war. Steven Mnuchin said in an interview with the Financial Times that the Treasury monitored currency issues “very carefully” and noted that the Chinese […]

China accused the U.S. of “trade bullyism practices”, “greatest risk for the global economy”

China hit out against the U.S. in a 71-page paper, accusing President Donald Trump’s administration of “trade bullyism practices” that have become “the greatest source of uncertainty and risk for the recovery of the global economy.” The document, published on Monday, outlined the Chinese government’s response to criticisms leveled against it by the U.S. Issues addressed in the report include the […]

China joins Russia’s largest military exercise since cold war

Collaboration is a sign of deepening strategic bond between Moscow and Beijing Hundreds of Russian and Chinese tanks, attack helicopters, fighter jets and thousands of soldiers will this week fight side by side in the biggest war games in Russia since 1981, in a show of strength and friendship between Asia’s two largest military powers. […]

China to ignore Trump sanctions, continue doing business with Iran

China on Wednesday defended its business ties with Iran despite a set of U.S. sanctions targeting Tehran, potentially setting up further trade conflicts between Beijing and the Trump administration. A statement from the Chinese Foreign Ministry reported by Reuters states that China’s business dealings with Iran comply with all United Nations sanctions currently applied to Iran, and that the country would […]

Stiglitz on Trade War with China: “We have a demagogue who’s a president”  

Speaking to the South China Morning Post on the sidelines of the China Institute Executive Summit in New York, the Nobel Prize-winning economist and Columbia University professor said: “We have a demagogue who’s a president.” Trump, for political reasons, is trying to reverse a 70-year process of international agreements that have created an industrial chain “where borders […]

Europe needs more than management from Germany

Germany’s aversion to political vision used to be a blessing. Now it’s becoming a curse. When I arrived in Berlin seven months ago, Angela Merkel was German chancellor, leading a CDU-SPD grand coalition government. Now that I am preparing to leave Berlin again, Angela Merkel has just been elected as chancellor, and her CDU-SPD cabinet […]