Europe will engage rather than confront China in trade, EU ambassador to China says

The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday. Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence. Nicolas Chapuis EU ambassador to ChinaEU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensur


The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday.
Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence.
Nicolas Chapuis EU ambassador to ChinaEU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensur
Europe will engage rather than confront China in trade, EU ambassador to China says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, told, deals, chapuis, europe, china, engage, confront, ambassador, deal, uschina, wto, trade


Europe will engage rather than confront China in trade, EU ambassador to China says

The European Union will take “a different approach” than the U.S. when it comes to managing the trade relationship with China, the EU ambassador to China told CNBC on Friday. Ambassador Nicolas Chapuis emphasized, however, that the EU is “in the same boat” as the U.S. despite the divergence. “We think that policy of engagement, clarity, the possibility to strike smart deals, to take stock of China’s innovation policies and formidable economy of this country is of interest to us and engagement rather confrontation is the right path,” Chapuis told CNBC’s “Street Signs.” The ambassador said that the EU is working to deliver “a smart and sensible agreement” and that his staff will “take stock of the potential of economic, trade, political relationship between the EU and China.”

The fact that trade tensions may be reduced, thanks to the U.S.-China deal is good news. On the other hand, managed trade, quantitative targets, bilateral deals, this is not what a global world needs. Nicolas Chapuis EU ambassador to China

EU Trade Commissioner Phil Hogan said on Thursday that the EU will be closely monitoring the newly signed “phase one” trade deal between Washington and Beijing, to ensure it complies with WTO rules. “As my commissioner said… we do not like bilateral arrangements in globalization. Of course, the U.S. is entitled to any deal it wishes with China. But if it is not WTO compatible, then we have an issue,” the ambassador said. The EU will monitor progress on the U.S.-China deal “extremely closely to see if our concerns on managed trade, on quantitative targets are valid or not,” said Chapuis. He said that he received a call from Chinese officials after the deal was signed that assured the EU “will not be impacted by the U.S.-China trade deal.”

US-China trade deal’s global impact


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, told, deals, chapuis, europe, china, engage, confront, ambassador, deal, uschina, wto, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Developing economies reliant on agriculture are more exposed to climate risks, McKinsey finds

Countries and regions with lower per capita GDP levels are generally more exposed to climate change, according to McKinsey Global Institute’s newest climate risk report. In some regions, crop yields may increase, while in others environmental conditions could cause some crops to fail entirely, according to McKinsey. Jonathan Woetzel, director of the McKinsey Global Institute, told CNBC in an email that adaption is essential to help manage risks. According to McKinsey, since the 1880s, the averag


Countries and regions with lower per capita GDP levels are generally more exposed to climate change, according to McKinsey Global Institute’s newest climate risk report.
In some regions, crop yields may increase, while in others environmental conditions could cause some crops to fail entirely, according to McKinsey.
Jonathan Woetzel, director of the McKinsey Global Institute, told CNBC in an email that adaption is essential to help manage risks.
According to McKinsey, since the 1880s, the averag
Developing economies reliant on agriculture are more exposed to climate risks, McKinsey finds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, finds, global, agriculture, regions, according, measures, risk, heat, exposed, developing, risks, mckinsey, gdp, economies, change, reliant, climate


Developing economies reliant on agriculture are more exposed to climate risks, McKinsey finds

Herd boys pull out an ox stuck in muddy waters in the drying Mabwematema dam 20km North of Zvishavane, on December 25, 2019.

Countries and regions with lower per capita GDP levels are generally more exposed to climate change, according to McKinsey Global Institute’s newest climate risk report.

“Poorer regions often have climates that are closer to physical thresholds. They rely more on outdoor work and natural capital and have less financial means to adapt quickly,” the report said.

For example, a changing climate “could both improve and degrade food system performance,” the report said. In some regions, crop yields may increase, while in others environmental conditions could cause some crops to fail entirely, according to McKinsey.

Countries like Canada, Russia, and parts of northern Europe may benefit slightly from the change in climate conditions as warmer temperatures may lead to greater agricultural yields, according to the global consulting firm.

Jonathan Woetzel, director of the McKinsey Global Institute, told CNBC in an email that adaption is essential to help manage risks. He said, however, immediate steps could be costly for affected regions.

“Mobilizing finance to fund adaptation measures, particularly in developing countries, is also crucial,” and it may require more public-private partnerships, according to the director. Key adaptation measures include protecting people and assets, building resilience, reducing exposure, and ensuring that appropriate financing and insurance are in place, Woetzel said.

To battle climate change effects, “governments of developing nations are increasingly looking to insurance/reinsurance carriers and other capital markets to improve their resiliency to natural disasters as well as give assurances to institutions that are considering investments in a particular region,” he said.

According to McKinsey, since the 1880s, the average global temperature has risen by about 1.1 degrees Celsius with significant regional variations.

As the climate changes, hazards are likely to intensify and have a broader physical impact, affecting more regions. McKinsey said that in turn would hit its workability indicator, which measures outdoor working hours lost to extreme heat and humidity. It also factors in hazards like heat stress, heatstroke and other human health conditions affected by the change in climate.

McKinsey found that the top quartile of countries, based on GDP per capita, will have a much smaller increase in risk by 2050 than the bottom quartile when it comes to its workability indicator.

According to the National Bureau of Economic Research, countries that derive a significant percentage of their GDP from agriculture could be most at risk as intense heat and precipitation kill crops and delay fieldwork.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: grace shao
Keywords: news, cnbc, companies, finds, global, agriculture, regions, according, measures, risk, heat, exposed, developing, risks, mckinsey, gdp, economies, change, reliant, climate


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China’s vice premier is upbeat about the economy, estimates growth of more than 6% in 2019

US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020. China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News. Liu added that data for this month points to a better-th


US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.
China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News.
Liu added that data for this month points to a better-th
China’s vice premier is upbeat about the economy, estimates growth of more than 6% in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: grace shao christine wang, grace shao, christine wang
Keywords: news, cnbc, companies, vice, premier, economy, trade, xinhua, estimates, growth, liu, president, upbeat, chinas, 2019, world, china, trump


China's vice premier is upbeat about the economy, estimates growth of more than 6% in 2019

US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News.

Liu added that data for this month points to a better-than-expected economic outlook, Xinhua reported.

It wasn’t immediately clear which data Liu was referring to.

The comments come a day after President Donald Trump signed the “phase one” trade deal with Liu, marking a temporary truce in the trade war between the world’s two largest economies.

During the signing ceremony, Liu delivered a message from Chinese President Xi Jinping, who said the agreement is “good for China, for the U.S. and for the whole world,” according to a translation.

In his own remarks, Liu said China’s economy is “transitioning from high-speed growth to high-quality development.”

He also said “China will continue to enhance the legal environment” and “welcomes investors from around the world,” as the country continues to open up.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: grace shao christine wang, grace shao, christine wang
Keywords: news, cnbc, companies, vice, premier, economy, trade, xinhua, estimates, growth, liu, president, upbeat, chinas, 2019, world, china, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China-US phase one deal could give Hong Kong’s port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.” The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. “There is very little exported from here that is manufa


Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island.
We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”
The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board.
According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018.
“There is very little exported from here that is manufa
China-US phase one deal could give Hong Kong’s port a much-needed boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
Keywords: news, cnbc, companies, chinaus, muchneeded, boost, hong, world, according, port, levesque, kong, deal, phase, business, container, china, kongs


China-US phase one deal could give Hong Kong's port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. Geovien So | SOPA Images | LightRocket | Getty Images

The port of Hong Kong, once the world’s busiest, could get a boost after the phase one trade deal between the U.S. and China is signed, according to the managing director of Modern Terminals. The ambiguity brought on by the trade dispute between China and the U.S. in the last two years has created a lot of uncertainty for businesses, particularly for the port business, said Peter Levesque of Modern Terminals — the second largest container terminal operator in Hong Kong. He added that he hopes both sides can get this initial deal implemented. “It’s almost impossible to put a game plan together when the goal post is moving almost daily,” Levesque told CNBC’s “Squawk Box” on Wednesday. “So we hope that through phase one agreement that we’ll be able to get a lot more certainty around what the future looks like. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”

Shanghai overtakes Hong Kong as busiest port

Levesque, who has been a resident of Hong Kong for 25 years, said he witnessed the the territory’s handover to China in 1997, as well as China’s rapid economic growth. The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. But it has since been overtaken by others in the region — a worrying trend as the port business is one of the key drivers of Hong Kong’s economy. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. Four mainland Chinese ports — Shanghai, Ningbo-Zhousan, Shenzhen, Guangzhou — were among the top 5 world container ports by volume in the world that year.

Hopefully both sides can step back … and hopefully we can get there without having any miscommunications and misunderstandings that set us back again. Peter Levesque managing director of Modern Terminals

Hong Kong’s port activities are mostly made up of transshipment businesses, and only about 14% to 15% of that business is trans-pacific to the United States, according to Levesque. “There is very little exported from here that is manufactured in Hong Kong. We’re taking business, we’re moving shipments through China, through Hong Kong to the rest of the world. And then in the opposite direction, through Hong Kong back into China,” he said. Hong Kong’s economy entered a technical recession in the third quarter of 2019, and contracted by 3.2% quarter-on-quarter in real terms, after declining by 0.5% in the preceding quarter. “When China and the United States aren’t agreeing with each other, it actually affects all markets. And that’s just something we hope to rebound with the implementation of phase one,” Levesque added.

Impact of phase one trade deal

“China agreeing to buy another $200 billion worth of goods and services from the United States, and I think more importantly, addressing the issues around IP (intellectual property) protection and forced technology transfer and opening up markets more for financial industry and the insurance industry — those are major positive steps. And the U.S. side then coming back and lowering tariffs,” Levesque said. “Hopefully both sides can step back and take a deep breath and get this phase one into implementation and hopefully we can get there without having any miscommunications and misunderstandings that set us back again,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
Keywords: news, cnbc, companies, chinaus, muchneeded, boost, hong, world, according, port, levesque, kong, deal, phase, business, container, china, kongs


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Australian bushfires will be a ‘big drag’ on growth, says economist

David Gray | Getty ImagesRaging bushfires across Australia are threatening to drag down the economy as the country’s tourism and consumer sectors take a hit, said the chief economist of BetaShares Capital. David Bassanese, chief economist at BetaShares Capital warned Monday that beyond the devastating loss of lives and property, Australians should also brace for a slowdown in its economy. “So possibly, from a macro perspective, it could have a negative impact on consumer confidence, which at the


David Gray | Getty ImagesRaging bushfires across Australia are threatening to drag down the economy as the country’s tourism and consumer sectors take a hit, said the chief economist of BetaShares Capital.
David Bassanese, chief economist at BetaShares Capital warned Monday that beyond the devastating loss of lives and property, Australians should also brace for a slowdown in its economy.
“So possibly, from a macro perspective, it could have a negative impact on consumer confidence, which at the
Australian bushfires will be a ‘big drag’ on growth, says economist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: grace shao
Keywords: news, cnbc, companies, change, drag, fires, homes, climate, economist, hitting, big, think, australian, australia, lot, bushfires, growth, bassanese


Australian bushfires will be a 'big drag' on growth, says economist

Fire and Rescue personal run from flames as a bushfire burns trees along a road near homes on the outskirts of the town of Bilpin on December 19, 2019 in Sydney, Australia. David Gray | Getty Images

Raging bushfires across Australia are threatening to drag down the economy as the country’s tourism and consumer sectors take a hit, said the chief economist of BetaShares Capital. At least 24 people across the country have died from the wild fires, according to official numbers, and the disaster has so far killed half a billion animals and thousands have evacuated from their homes. David Bassanese, chief economist at BetaShares Capital warned Monday that beyond the devastating loss of lives and property, Australians should also brace for a slowdown in its economy. “Certainly, from a broader economic perspective, it’s not helpful,” said Bassanese. “So possibly, from a macro perspective, it could have a negative impact on consumer confidence, which at the moment is very vulnerable — it’s been the big drag on economic growth.” As of Sunday, tens of thousands of homes in both New South Wales and Victoria states were without power, Reuters reported. Despite large-scale military and police effort in providing supplies and evacuating coastal towns, two people remain to be missing, according to Reuters.

These fires are a lot bigger, a lot earlier in the season than we’ve ever seen before … and I think this is hitting high when we’re talking about climate change, I think this is the wake-up call in Australia. David Bassanese chief economist at BetaShares Capital

It’s important that the Australian government can make efforts in implementing global climate change policies in place, Bassanese said, urging Canberra to be at the forefront of combating climate change. “In reality, Australia is going to be one of those countries” that would be most negatively affected by climate change, he said. Australia has been battling wildfires across much of its east coast for months, and experts have pointed out that climate change is a key factor to the three-year long drought that has left the country’s bushland tinder-dry and susceptible to fires.

Australian Prime Minister Scott Morrison and his conservative government have faced much criticism for not doing enough to address the climate issues domestically and internationally. On Monday, the prime minister announced that his government will be committing $2 billion Australian dollars over two years to bushfire recovery, Reuters reported. “These fires are a lot bigger, a lot earlier in the season than we’ve ever seen before … and I think this is hitting high when we’re talking about climate change, I think this is the wake-up call in Australia. Climate change is starting to affect us and more and more people (are realizing) these are the first tangible signs that’s hitting us right square in the face,” said Bassanese.

More RBA cuts?


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: grace shao
Keywords: news, cnbc, companies, change, drag, fires, homes, climate, economist, hitting, big, think, australian, australia, lot, bushfires, growth, bassanese


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Iran vows to retaliate over the killing of its top military commander

Iran has vowed to retaliate over the assassination of the country’s top military commander Major-General Qasem Soleimani. Iranian Foreign Minister Mohammad Javad Zarif warned Friday that the targeted killing of Soleimani was “extremely dangerous & a foolish escalation.” Soleimani, head of Iran’s elite Quds Force, was killed in a U.S. military airstrike at Baghdad’s international airport. Iranian President Hassan Rouhani said his death will make Iran “more decisive” in its resistance against the


Iran has vowed to retaliate over the assassination of the country’s top military commander Major-General Qasem Soleimani.
Iranian Foreign Minister Mohammad Javad Zarif warned Friday that the targeted killing of Soleimani was “extremely dangerous & a foolish escalation.”
Soleimani, head of Iran’s elite Quds Force, was killed in a U.S. military airstrike at Baghdad’s international airport.
Iranian President Hassan Rouhani said his death will make Iran “more decisive” in its resistance against the
Iran vows to retaliate over the killing of its top military commander Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: joanna tan grace shao, joanna tan, grace shao
Keywords: news, cnbc, companies, quds, revenge, soleimani, killing, president, vows, rouhani, retaliate, zarif, assassination, iran, state, military, commander, television


Iran vows to retaliate over the killing of its top military commander

Iran has vowed to retaliate over the assassination of the country’s top military commander Major-General Qasem Soleimani.

Iranian Foreign Minister Mohammad Javad Zarif warned Friday that the targeted killing of Soleimani was “extremely dangerous & a foolish escalation.”

“The U.S. bears responsibility for all consequences of its rogue adventurism,” Zarif said on Twitter.

Soleimani, head of Iran’s elite Quds Force, was killed in a U.S. military airstrike at Baghdad’s international airport. The move was directed by U.S. President Donald Trump, the Pentagon said Thursday.

The U.S. State Department designates the Iranian Quds Force as a foreign terrorist organization, and Soleimani has been blamed for the deaths of hundreds of American and coalition service members. The Pentagon said Soleimani approved this week’s attacks on the U.S. Embassy in Baghdad.

“A crushing revenge will be taken for Soleimani’s unjust assassination … We will take revenge from all those involved and responsible for his assassination,” Iranian Defence Minister Amir Hatami was quoted by state news agency IRNA as saying.

Iranian President Hassan Rouhani said his death will make Iran “more decisive” in its resistance against the U.S.

“Soleimani’s martyrdom will make Iran more decisive to resist America’s expansionism and to defend our Islamic values,” said on state television,” Rouhani said on state television, Reuters reported. “With no doubt, Iran and other freedom-seeking countries in the region will take his revenge.”


Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: joanna tan grace shao, joanna tan, grace shao
Keywords: news, cnbc, companies, quds, revenge, soleimani, killing, president, vows, rouhani, retaliate, zarif, assassination, iran, state, military, commander, television


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China’s corporate borrowing soars and cash flows deteriorate, independent survey shows

Finally, the economy saw record levels of corporate borrowing in the fourth quarter, the survey showed. “Loan applications nationally shot to an all-time high, while rejections sank to an all-time low,” according to the China Beige Book. That’s now become an understatement,” the China Beige Book said. China’s manufacturing was “surprisingly solid” despite a protracted trade war with the U.S., the survey showed. Shehzad Qazi managing director at China Beige Book


Finally, the economy saw record levels of corporate borrowing in the fourth quarter, the survey showed.
“Loan applications nationally shot to an all-time high, while rejections sank to an all-time low,” according to the China Beige Book.
That’s now become an understatement,” the China Beige Book said.
China’s manufacturing was “surprisingly solid” despite a protracted trade war with the U.S., the survey showed.
Shehzad Qazi managing director at China Beige Book
China’s corporate borrowing soars and cash flows deteriorate, independent survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: grace shao
Keywords: news, cnbc, companies, shadow, independent, survey, beige, china, economy, book, firms, shows, quarter, corporate, chinas, showed, borrowing, deteriorate, cash, flows, loans, soars


China's corporate borrowing soars and cash flows deteriorate, independent survey shows

Jiangsu Pilot Free Trade Zone Lianyungang Area on November 28, 2019 in Jiangsu Province of China. Wang Chun | VCG | Getty Images

China’s fourth-quarter economic growth may have been “the weakest of 2019” — but it still showed an improvement compared to the previous quarter and to the same period a year ago, a business survey released on Thursday showed. Manufacturing and services saw the strongest revenue improvement compared to the the previous quarter, though profit was “muted,” according to research firm China Beige Book’s quarterly review of the world’s second-largest economy, which was based on a survey of more than 3,300 Chinese businesses. Three important results emerged from the survey. First, there are signs that cash flows have deteriorated quickly. “It is easy to discount a seemingly unceasing trend of worsening cash flow, since it in some ways is a feature of the system. But even by Chinese standards, Q4 late payables and deliverables soared—to the worst levels we’ve recorded,” the report said. Secondly, new orders continue to fall even though companies are reporting higher revenue in the fourth quarter. “Demand may not hold up,” the report said, adding that “firms may not yet have understood the message their customers are sending.” Finally, the economy saw record levels of corporate borrowing in the fourth quarter, the survey showed. “Loan applications nationally shot to an all-time high, while rejections sank to an all-time low,” according to the China Beige Book. “For the first time since 2012 we saw each of our four core sectors—Manufacturing, Retail, Services, and Property—report over 30% of firms borrowing.”

Shadow banking looms

The rise in business loans is in part due to the comeback of shadow financing, according to the survey. Shadow banking refers to unregulated lending activities that often present higher risks as they are subject to less regulatory oversight. China Beige Book’s data showed that the proportion of loans from non-bank lenders have increased to nearly 40% in the fourth quarter of 2019, compared to 29% in the same period in 2013. China’s smaller private firms have contributed to the country’s economic growth but traditionally, they have had a more difficult time getting loans than the larger, state-owned corporations, leading many to turn to shadow banking. “Firms say shadow bankers are paying little heed to official data refusing to acknowledge their resurgence, accounting for roughly two-fifths of loans for a third straight quarter,” the report showed. “And the bond market appears just as agreeable, with issuance rising for a record sixth straight quarter.” “We’ve shown in the past that the economy is not even credit-constrained, much less starved. That’s now become an understatement,” the China Beige Book said.

Proportion of loans from bank and non-bank lenders

Source: China Beige Book Analytics Platform “This is the third consecutive quarter where shadow banking represented roughly 2 out of every 5 loans made. This may seem surprising considering that Beijing continues to maintain that shadow banks have largely been erased from the equation since 2016-17,” said Shehzad Qazi, managing director at China Beige Book. “Borrowing rose in every sector this quarter outside of manufacturing (where credit access had been rising for 5 consecutive quarters through Q3-19). But the distinctive feature in Q4 was a spike in borrowing — both in the loan and bond markets — in parts of the economy where cash flow tightened significantly,” Qazi told CNBC via email.

Trade war effect

Other concerns include oversupply, and rising wages that could eat into profits. China’s manufacturing was “surprisingly solid” despite a protracted trade war with the U.S., the survey showed. The world’s two largest economies have been embroiled in a trade dispute that has seen both sides levy additional tariffs on billions of dollars worth of goods from each other.

The phase one deal is helpful mostly in that it ensures the headwinds for Beijing aren’t likely to get materially worse over the next year. Shehzad Qazi managing director at China Beige Book


Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: grace shao
Keywords: news, cnbc, companies, shadow, independent, survey, beige, china, economy, book, firms, shows, quarter, corporate, chinas, showed, borrowing, deteriorate, cash, flows, loans, soars


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics

Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China. Lintao Zhang | Getty ImagesTwo Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics. China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy. Investment flowing inBe


Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China.
Lintao Zhang | Getty ImagesTwo Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics.
China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy.
Investment flowing inBe
China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-25  Authors: grace shao
Keywords: news, cnbc, companies, olympics, zhangjiakou, beijing, infrastructure, snow, winter, pours, 2022, resorts, report, china, readies, billions, ski, city, talent


China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics

Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China. Lintao Zhang | Getty Images

Two Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics. Since 2015, when it was announced that Beijing and its surrounding cities would play host in 2022, the Chinese government has been pushing for the development of winter sports. Some incentives include dishing out tax exemptions and increasing access to resources, as it hopes to attract 300 million people by 2022. By the end of last year, the area developed for ski resorts in Zhangjiakou had 169 routes stretching over 162 kilometers and more than 10,000 pieces of equipment available for rental. Together, the seven ski resorts in the same city can now host more than 50,000 people in a day, according to municipal government reports. China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy. The number of visitors to China’s ski resorts has tripled from 5.5 million in 2009 to 15.1 million in 2016, according to a report by legal and accounting advisory Dezan Shira & Associates.

Investment flowing in

Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games (BOCOG) host a Global Recruitment Launch event for volunteers of the Beijing 2022 Winter Games at the Shougang Park, Shijingshan District, Beijing on December 5, 2019. Evelyn Cheng | CNBC

According to China Tourism Academy’s 2018 China winter tourism report, Zhangjiakou city — which will co-host the Winter Olympics with Beijing and Yanqing — is one of the top 10 winter destinations in the country. Considered a fourth-tier city, Zhangjiakou was not expected to come under the spotlight. In fact, just a few years ago, Chongli district in Zhangjiakou was surrounded by muddy roads and underdeveloped villages, among a few hills covered completely in snow during winter. Still, challenges remain. A November travel report by the New York Times revealed that the Chinese ski resort town may not be ready for guests yet, as the city is “cold enough for snow to stick around in the winter, but that snow has to be blasted out of machines over a land parched by droughts.”

The Canadian city of Vancouver, which hosted the 2010 Winter Olympics, was also hit with the same problem, which led to the city allocating much of its $2 billion budget to producing artificial snow. Australian Olympics snowboarder, Scotty James, told CNBC’s “Street Signs” in December that the most important thing for athletes is the consistent temperature. “Whether if (the snow) is man-made or natural, that doesn’t really matter, what’s more important is the temperature, and it’s definitely cold enough here in China,” said James.

Recruiting talent

In 1996, China had only 11 ski resorts in the country. Twenty years later, the country had 646 ski resorts, according to EU SME Centre, a research center funded by the European Union which has partnerships with six European countries’ business councils in China. The market size of the skiing industry in 2022 is expected to be 3.5 billion euros ($3.97 billion) — an increase of more than 480% from 2015, according to a 2018 report by the EU SME Centre. “China officially has the world’s largest beginner market for winter sports,” wrote legal and tax advisory Dezan Shira & Associates’ Peter Upton in a September report. “I would draw a line here between the hardware side (buildings, equipment, etc) and the software side (programming, athlete development infrastructure, etc) — neither market is saturated — but there is much more need on the software side,” Mark Simon, a consultant for the China Hockey Group and Chinese hockey club Kunlun Red Star, told CNBC in an email. Beijing is finding different ways to promote winter sports, and is seen as trying to push winter sports mainstream. For one, ice hockey in China has seen tremendous growth in fan base and participation since Song Andong, the first China-born player, was drafted to play in the U.S. National Hockey League. In October, the Beijing Olympic City Development Association and the International Data Group co-hosted the World Winter Sports Expo 2019 to educate the masses on the various sports and attract investors into the market.

This picture taken at the Yanqing sports school in Beijing. Wang Zhao | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-25  Authors: grace shao
Keywords: news, cnbc, companies, olympics, zhangjiakou, beijing, infrastructure, snow, winter, pours, 2022, resorts, report, china, readies, billions, ski, city, talent


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics

Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China. Lintao Zhang | Getty ImagesTwo Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics. China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy. Investment flowing inBe


Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China.
Lintao Zhang | Getty ImagesTwo Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics.
China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy.
Investment flowing inBe
China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-25  Authors: grace shao
Keywords: news, cnbc, companies, winter, city, china, infrastructure, talent, pours, ski, report, olympics, readies, billions, resorts, beijing, 2022, zhangjiakou, snow


China pours billions into infrastructure and talent as it readies for the 2022 Winter Olympics

Birk Ruud of Norway competes the Men’s Freeski Big Air finals during the 2019 Air+Style Beijing FIS SnowBoard World Cup on December 14, 2019 in Beijing, China. Lintao Zhang | Getty Images

Two Chinese cities — namely Beijing and Zhangjiakou — witnessed a burst of activity in winter sports investment after China was named the host of the 2022 Winter Olympics. Since 2015, when it was announced that Beijing and its surrounding cities would play host in 2022, the Chinese government has been pushing for the development of winter sports. Some incentives include dishing out tax exemptions and increasing access to resources, as it hopes to attract 300 million people by 2022. By the end of last year, the area developed for ski resorts in Zhangjiakou had 169 routes stretching over 162 kilometers and more than 10,000 pieces of equipment available for rental. Together, the seven ski resorts in the same city can now host more than 50,000 people in a day, according to municipal government reports. China playing host to the 2022 Winter Olympics has given winter sports a boost in the world’s second-largest economy. The number of visitors to China’s ski resorts has tripled from 5.5 million in 2009 to 15.1 million in 2016, according to a report by legal and accounting advisory Dezan Shira & Associates.

Investment flowing in

Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games (BOCOG) host a Global Recruitment Launch event for volunteers of the Beijing 2022 Winter Games at the Shougang Park, Shijingshan District, Beijing on December 5, 2019. Evelyn Cheng | CNBC

According to China Tourism Academy’s 2018 China winter tourism report, Zhangjiakou city — which will co-host the Winter Olympics with Beijing and Yanqing — is one of the top 10 winter destinations in the country. Considered a fourth-tier city, Zhangjiakou was not expected to come under the spotlight. In fact, just a few years ago, Chongli district in Zhangjiakou was surrounded by muddy roads and underdeveloped villages, among a few hills covered completely in snow during winter. Still, challenges remain. A November travel report by the New York Times revealed that the Chinese ski resort town may not be ready for guests yet, as the city is “cold enough for snow to stick around in the winter, but that snow has to be blasted out of machines over a land parched by droughts.”

The Canadian city of Vancouver, which hosted the 2010 Winter Olympics, was also hit with the same problem, which led to the city allocating much of its $2 billion budget to producing artificial snow. Australian Olympics snowboarder, Scotty James, told CNBC’s “Street Signs” in December that the most important thing for athletes is the consistent temperature. “Whether if (the snow) is man-made or natural, that doesn’t really matter, what’s more important is the temperature, and it’s definitely cold enough here in China,” said James.

Recruiting talent

In 1996, China had only 11 ski resorts in the country. Twenty years later, the country had 646 ski resorts, according to EU SME Centre, a research center funded by the European Union which has partnerships with six European countries’ business councils in China. The market size of the skiing industry in 2022 is expected to be 3.5 billion euros ($3.97 billion) — an increase of more than 480% from 2015, according to a 2018 report by the EU SME Centre. “China officially has the world’s largest beginner market for winter sports,” wrote legal and tax advisory Dezan Shira & Associates’ Peter Upton in a September report. “I would draw a line here between the hardware side (buildings, equipment, etc) and the software side (programming, athlete development infrastructure, etc) — neither market is saturated — but there is much more need on the software side,” Mark Simon, a consultant for the China Hockey Group and Chinese hockey club Kunlun Red Star, told CNBC in an email. Beijing is finding different ways to promote winter sports, and is seen as trying to push winter sports mainstream. For one, ice hockey in China has seen tremendous growth in fan base and participation since Song Andong, the first China-born player, was drafted to play in the U.S. National Hockey League. In October, the Beijing Olympic City Development Association and the International Data Group co-hosted the World Winter Sports Expo 2019 to educate the masses on the various sports and attract investors into the market.

This picture taken at the Yanqing sports school in Beijing. Wang Zhao | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-12-25  Authors: grace shao
Keywords: news, cnbc, companies, winter, city, china, infrastructure, talent, pours, ski, report, olympics, readies, billions, resorts, beijing, 2022, zhangjiakou, snow


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

North Korea seems likely to test long-range missile as it returns to ‘old tactics’ in talks with US

North Korea test fires a new weapon, in this undated photo released on August 11, 2019 by North Korea’s Korean Central News Agency (KCNA). North Korea said in early December that it would surprise Washington with a Christmas present. I think the North Koreans are going to test a intercontinental ballistic missile (ICBM),” Kazianis said. “And now North Korea is sort of going back to old tactics,” he said, ” I think what Trump is going to do is you’re going to see him apply maximum pressure 2.0. C


North Korea test fires a new weapon, in this undated photo released on August 11, 2019 by North Korea’s Korean Central News Agency (KCNA).
North Korea said in early December that it would surprise Washington with a Christmas present.
I think the North Koreans are going to test a intercontinental ballistic missile (ICBM),” Kazianis said.
“And now North Korea is sort of going back to old tactics,” he said, ” I think what Trump is going to do is you’re going to see him apply maximum pressure 2.0.
C
North Korea seems likely to test long-range missile as it returns to ‘old tactics’ in talks with US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: grace shao
Keywords: news, cnbc, companies, missile, icbm, pyongyang, talks, think, 2017, test, north, old, korea, tactics, longrange, kazianis, weapon, going, likely, returns


North Korea seems likely to test long-range missile as it returns to 'old tactics' in talks with US

North Korea test fires a new weapon, in this undated photo released on August 11, 2019 by North Korea’s Korean Central News Agency (KCNA). KCNA | Reuters

The United States needs to stop expecting North Korea to just “surrender,” said Harry Kazianis, senior director at D.C.-based think tank the Center for National Interest. The more achievable goal would be to mitigate tensions with Pyongyang using economic solutions and collaboration with China, he suggested. North Korea said in early December that it would surprise Washington with a Christmas present. “I hope I’m wrong … I think the North Koreans are going to test a intercontinental ballistic missile (ICBM),” Kazianis said. He explained it would probably be similar to the ICBM test in 2017, adding “I think the North Koreans have been very clear that they’re going to do this.” North Korea’s state-owned paper on Tuesday called for development of new weapons to bolster national security on the 28th anniversary of a late former leader’s inauguration as the supreme commander of the army. “If they really want to sort of drive the point home that they can put the United States at risk of a nuclear weapon, they would actually put a dummy warhead at the end of it and show that that warhead can get through the atmosphere and hit something like a city,” he told CNBC’s “Squawk Box” on Tuesday.

Kazianis said that the ICBM that Pyongyang tested in November 2017 already had a 10,000 km range, enough to threaten the continental U.S. He added that the country tested its first nuclear weapon 13 years ago. “This is a threat we have to take seriously,” he added.

Going back to 2017 tensions

The think tank director said, based on his conversation with many White House advisors, the consensus is that if and when Pyongyang fires an ICBM on Christmas Day, U.S. President Donald Trump would be “very insulted” and “very, very upset.” The president will feel that North Korean leader Kim Jong Un has broken a promise he made to Trump which is to not test ICBMs. Kazianis said that Trump’s approach to North Korea has been somewhat “unorthodox” as he met with Kim three separate times over the last two years trying to get a deal. “And now North Korea is sort of going back to old tactics,” he said, ” I think what Trump is going to do is you’re going to see him apply maximum pressure 2.0. You’re going to see more sanctions, a beefed up U.S. presence in the region and I think we’re going to go back to tensions of 2017.” But this time around, there is “no off ramp” like the 2018 Winter Olympics in South Korea that helped diffuse the tensions, Kazianis pointed out, adding that he is “very worried where this goes.” Sanctions can contain the problem to a certain extent but it is important to understand that if Washington’s goal is for Pyongyang to “surrender,” that is not going to be possible, he said.

China has control on the situation

Kazianis said that this situation is a major challenge for China, noting the country has always been “in a very prickly position” with North Korea. “(China) hates this to be honest with you. We have to remember, Beijing above all else craves stability. That’s how their markets stay stable. That’s how everything is pinned for them. So, I don’t think they like this,” said Kazianis.


Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: grace shao
Keywords: news, cnbc, companies, missile, icbm, pyongyang, talks, think, 2017, test, north, old, korea, tactics, longrange, kazianis, weapon, going, likely, returns


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post