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ChinaSep 25th 2019 | DUANJIAPING
10-13 minutes
AS DARKNESS BEGINS to settle on Duanjiaping village, a few men in white skullcaps head towards a large mosque. It is time for the Maghrib, the fourth of the five daily prayers of devout Muslims. It is clear even before they reach the building’s high yellow walls that all is not right. The prayer-hall’s four minarets, topped by golden crescent moons, are still a towering landmark. But they are covered in scaffolding and green netting (see picture), and they are not due for repair.
Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Thursday, September 26, 2019
Wednesday, April 25, 2018
The Thucydides Trap
When one great power threatens to displace another, war is almost always the result -- but it doesn’t have to be.
BY GRAHAM ALLISON | JUNE 9, 2017, 10:21 AM
n April, chocolate cake had just been served at the Mar-a-Lago summit when President Donald Trump leaned over to tell Chinese President Xi Jinping that American missiles had been launched at Syrian air bases, according to Trump’s account of the evening. What the attack on Syria signaled about Trump’s readiness to attack North Korea was left to Xi’s imagination.
Welcome to dinner with the leaders who are now attempting to manage the world’s most dangerous geopolitical relationship.
The story is a small one. But as China challenges America’s predominance, misunderstandings about each other’s actions and intentions could lead them into a deadly trap first identified by the ancient Greek historian Thucydides. As he explained, “It was the rise of Athens and the fear that this instilled in Sparta that made war inevitable.” The past 500 years have seen 16 cases in which a rising power threatened to displace a ruling one. Twelve of these ended in war.
Of the cases in which war was averted — Spain outstripping Portugal in the late 15th century, the United States overtaking the United Kingdom at the turn of the 20th century, and Germany’s rise in Europe since 1990 — the ascent of the Soviet Union is uniquely instructive today. Despite moments when a violent clash seemed certain, a surge of strategic imagination helped both sides develop ways to compete without a catastrophic conflict. In the end, the Soviet Union imploded and the Cold War ended with a whimper rather than a bang.
Although China’s rise presents particular challenges, Washington policymakers should heed five Cold War lessons.
Lesson 1: War between nuclear superpowers is MADness.
The United States and the Soviet Union built nuclear arsenals so substantial that neither could be sure of disarming the other in a first strike. Nuclear strategists described this condition as “mutual assured destruction,” or MAD. Technology, in effect, made the United States and Soviet Union conjoined twins — neither able to kill the other.
Today, China has developed its own robust nuclear arsenal. From confrontations in the South and East China Sea, to the gathering storm over the Korean Peninsula, leaders must recognize that war would be suicidal.
Lesson 2: Leaders must be prepared to risk a war they cannot win.
Although neither nation can win a nuclear war, both, paradoxically, must demonstrate a willingness to risk losing one to compete.
Consider each clause of this nuclear paradox. On the one hand, if war occurs, both nations lose and millions die — an option no rational leader could choose. But, on the other hand, if a nation is unwilling to risk war, its opponent can win any objective by forcing the more responsible power to yield. To preserve vital interests, therefore, leaders must be willing to select paths that risk destruction. Washington must think the unthinkable to credibly deter potential adversaries such as China.
Lesson 3: Define the new “precarious rules of the status quo.”
The Cold War rivals wove an intricate web of mutual constraints around their competition that President John F. Kennedy called “precarious rules of the status quo.” These included arms-control treaties and precise rules of the road for air and sea. Such tacit guidelines for the United States and China today might involve limits on cyberattacks or surveillance operations.
By reaching agreements on contentious issues, the United States and China can create space to cooperate on challenges — such as global terrorism and climate change — in which the national interests the two powers share are much greater than those that divide them. Overall, leaders should understand that survival depends on caution, communication, constraints, compromise, and cooperation.
Lesson 4: Domestic performance is decisive.
What nations do inside their borders matters at least as much as what they do abroad. Had the Soviet economy overtaken that of the United States by the 1980s, as some economists predicted, Moscow could have consolidated a position of hegemony. Instead, free markets and free societies won out. The vital question for the U.S.-China rivalry today is whether Xi’s Leninist-Mandarin authoritarian government and economy proves superior to American capitalism and democracy.
Maintaining China’s extraordinary economic growth, which provides legitimacy for sweeping party rule, is a high-wire act that will only get harder. Meanwhile, in the United States, sluggish growth is the new normal. And American democracy is exhibiting worrisome symptoms: declining civic engagement, institutionalized corruption, and widespread lack of trust in politics. Leaders in both nations would do well to prioritize their domestic challenges.
Lesson 5: Hope is not a strategy.
Over a four-year period from George Kennan’s famous “Long Telegram,” which identified the Soviet threat, to Paul Nitze’s NSC-68, which provided the road map for countering this threat, U.S. officials developed a winning Cold War strategy: contain Soviet expansion, deter the Soviets from acting against vital American interests, and undermine both the idea and the practice of communism. In contrast, America’s China policy today consists of grand, politically appealing aspirations that serious strategists know are unachievable. In attempting to maintain the post-World War II Pax Americana during a fundamental shift in the economic balance of power toward China, the United States’ real strategy, truth be told, is hope.
In today’s Washington, strategic thinking is often marginalized. Even Barack Obama, one of America’s smartest presidents, told the New Yorker that, given the pace of change today, “I don’t really even need George Kennan.” Coherent strategy does not guarantee success, but its absence is a reliable route to failure.
Thucydides’s Trap teaches us that on the historical record, war is more likely than not. From Trump’s campaign claims that China is “ripping us off” to recent announcements about his “great chemistry” with Xi, he has accelerated the harrowing roller coaster of U.S.-China relations. If the president and his national security team hope to avoid catastrophic war with China while protecting and advancing American national interests, they must closely study the lessons of the Cold War.
This article originally appeared in the May/June 2017 issue of FP magazine.
BY GRAHAM ALLISON | JUNE 9, 2017, 10:21 AM
n April, chocolate cake had just been served at the Mar-a-Lago summit when President Donald Trump leaned over to tell Chinese President Xi Jinping that American missiles had been launched at Syrian air bases, according to Trump’s account of the evening. What the attack on Syria signaled about Trump’s readiness to attack North Korea was left to Xi’s imagination.
Welcome to dinner with the leaders who are now attempting to manage the world’s most dangerous geopolitical relationship.
The story is a small one. But as China challenges America’s predominance, misunderstandings about each other’s actions and intentions could lead them into a deadly trap first identified by the ancient Greek historian Thucydides. As he explained, “It was the rise of Athens and the fear that this instilled in Sparta that made war inevitable.” The past 500 years have seen 16 cases in which a rising power threatened to displace a ruling one. Twelve of these ended in war.
Of the cases in which war was averted — Spain outstripping Portugal in the late 15th century, the United States overtaking the United Kingdom at the turn of the 20th century, and Germany’s rise in Europe since 1990 — the ascent of the Soviet Union is uniquely instructive today. Despite moments when a violent clash seemed certain, a surge of strategic imagination helped both sides develop ways to compete without a catastrophic conflict. In the end, the Soviet Union imploded and the Cold War ended with a whimper rather than a bang.
Although China’s rise presents particular challenges, Washington policymakers should heed five Cold War lessons.
Lesson 1: War between nuclear superpowers is MADness.
The United States and the Soviet Union built nuclear arsenals so substantial that neither could be sure of disarming the other in a first strike. Nuclear strategists described this condition as “mutual assured destruction,” or MAD. Technology, in effect, made the United States and Soviet Union conjoined twins — neither able to kill the other.
Today, China has developed its own robust nuclear arsenal. From confrontations in the South and East China Sea, to the gathering storm over the Korean Peninsula, leaders must recognize that war would be suicidal.
Lesson 2: Leaders must be prepared to risk a war they cannot win.
Although neither nation can win a nuclear war, both, paradoxically, must demonstrate a willingness to risk losing one to compete.
Consider each clause of this nuclear paradox. On the one hand, if war occurs, both nations lose and millions die — an option no rational leader could choose. But, on the other hand, if a nation is unwilling to risk war, its opponent can win any objective by forcing the more responsible power to yield. To preserve vital interests, therefore, leaders must be willing to select paths that risk destruction. Washington must think the unthinkable to credibly deter potential adversaries such as China.
Lesson 3: Define the new “precarious rules of the status quo.”
The Cold War rivals wove an intricate web of mutual constraints around their competition that President John F. Kennedy called “precarious rules of the status quo.” These included arms-control treaties and precise rules of the road for air and sea. Such tacit guidelines for the United States and China today might involve limits on cyberattacks or surveillance operations.
By reaching agreements on contentious issues, the United States and China can create space to cooperate on challenges — such as global terrorism and climate change — in which the national interests the two powers share are much greater than those that divide them. Overall, leaders should understand that survival depends on caution, communication, constraints, compromise, and cooperation.
Lesson 4: Domestic performance is decisive.
What nations do inside their borders matters at least as much as what they do abroad. Had the Soviet economy overtaken that of the United States by the 1980s, as some economists predicted, Moscow could have consolidated a position of hegemony. Instead, free markets and free societies won out. The vital question for the U.S.-China rivalry today is whether Xi’s Leninist-Mandarin authoritarian government and economy proves superior to American capitalism and democracy.
Maintaining China’s extraordinary economic growth, which provides legitimacy for sweeping party rule, is a high-wire act that will only get harder. Meanwhile, in the United States, sluggish growth is the new normal. And American democracy is exhibiting worrisome symptoms: declining civic engagement, institutionalized corruption, and widespread lack of trust in politics. Leaders in both nations would do well to prioritize their domestic challenges.
Lesson 5: Hope is not a strategy.
Over a four-year period from George Kennan’s famous “Long Telegram,” which identified the Soviet threat, to Paul Nitze’s NSC-68, which provided the road map for countering this threat, U.S. officials developed a winning Cold War strategy: contain Soviet expansion, deter the Soviets from acting against vital American interests, and undermine both the idea and the practice of communism. In contrast, America’s China policy today consists of grand, politically appealing aspirations that serious strategists know are unachievable. In attempting to maintain the post-World War II Pax Americana during a fundamental shift in the economic balance of power toward China, the United States’ real strategy, truth be told, is hope.
In today’s Washington, strategic thinking is often marginalized. Even Barack Obama, one of America’s smartest presidents, told the New Yorker that, given the pace of change today, “I don’t really even need George Kennan.” Coherent strategy does not guarantee success, but its absence is a reliable route to failure.
Thucydides’s Trap teaches us that on the historical record, war is more likely than not. From Trump’s campaign claims that China is “ripping us off” to recent announcements about his “great chemistry” with Xi, he has accelerated the harrowing roller coaster of U.S.-China relations. If the president and his national security team hope to avoid catastrophic war with China while protecting and advancing American national interests, they must closely study the lessons of the Cold War.
This article originally appeared in the May/June 2017 issue of FP magazine.
Monday, February 5, 2018
Tankers Keep Greece Top
https://www.maritime-executive.com/article/tankers-keep-greece-top#gs.ZTl5u5g
BY MAREX 2018-02-03 16:42:44
Greece has topped the world fleet values ranking by VesselsValue, with an owned fleet worth just under $100 billion, followed closely by Japan and China, worth $89 and $84 billion respectively. The top 10 global fleets are worth an estimated $516 billion.
Greek owners remain the dominant force in global shipping. The value of the Greek fleet is concentrated in the tanker ($36 billion), bulker ($35.75 billion), and LNG ($13.5 billion) vessel types. Hellenic control of these markets stands at about 19 percent of the total worth of the fleets.
The strong commitment of Greek owners to the global shipping markets looks unlikely to change as others, such as Germany, are liquidating assets, says VesselsValue. However, the trend in Chinese ownership is rising, as state owned companies are consolidating and placing new orders, a reminder that there are always new challengers for the top spot. Greek owners, with their sharp focus on commercial results, should continue to lead the pack for the foreseeable future.
Wednesday, October 25, 2017
Xi Jinping's ‘New Era’ China a new era for the world?
Carrie Gracie
China editor
As Mr Xi declares China ready "to move towards centre stage in the world", it's not clear whether his mission to control will help or hinder him.
Officially no reason was given for barring the BBC, Financial Times, Economist, New York Times and Guardian, but unofficially journalists were told that their reporting was to blame. Another sign of Xi's determination to control the message at home and abroad.
BBC
China editor
As Mr Xi declares China ready "to move towards centre stage in the world", it's not clear whether his mission to control will help or hinder him.
Officially no reason was given for barring the BBC, Financial Times, Economist, New York Times and Guardian, but unofficially journalists were told that their reporting was to blame. Another sign of Xi's determination to control the message at home and abroad.
BBC
Western media is still wrong. China will continue to rise.
By Eric Li October 24 at 2:28 PM
The Washington Post
SHANGHAI — As the 19th National Congress of the Communist Party of China draws to a close, analysts are parsing through President Xi Jinping’s 30,000-plus-word report — delivered in a three-and-a-half-hour address without breaks — to decipher the direction of the most populous nation in the world. It is a laborious effort, especially considering the report’s extensive official jargon and policy details.
But there is a much easier way. Read The Economist’s coverage of the congress, which is considerably shorter in length, and bet on the opposite being true. Let me explain.
The Washington Post
SHANGHAI — As the 19th National Congress of the Communist Party of China draws to a close, analysts are parsing through President Xi Jinping’s 30,000-plus-word report — delivered in a three-and-a-half-hour address without breaks — to decipher the direction of the most populous nation in the world. It is a laborious effort, especially considering the report’s extensive official jargon and policy details.
But there is a much easier way. Read The Economist’s coverage of the congress, which is considerably shorter in length, and bet on the opposite being true. Let me explain.
Xi Jinping Unveils China’s New Leaders but No Clear Successor
By CHRIS BUCKLEYOCT. 24, 2017
The New York Times
BEIJING — President Xi Jinping thrust China into a new era of strongman politics on Wednesday, unveiling a leadership team without a likely successor among the six officials who will help him rule for the next half decade.
In a nationally televised ceremony, Mr. Xi introduced the new members of China’s highest council of power, the Communist Party’s Politburo Standing Committee, on the red carpet of the Great Hall of the People in Beijing. In addition to Mr. Xi and China’s premier, Li Keqiang, the committee included five new members, all men in their 60s.
“Over the past five years, we’ve done a lot. Some work has been finished, some we must continue with,” Mr. Xi, 64, said after briefly introducing the committee members, who stood stiffly in line. “A new era needs a new look, and even more needs new accomplishments,” he added.
The New York Times
BEIJING — President Xi Jinping thrust China into a new era of strongman politics on Wednesday, unveiling a leadership team without a likely successor among the six officials who will help him rule for the next half decade.
In a nationally televised ceremony, Mr. Xi introduced the new members of China’s highest council of power, the Communist Party’s Politburo Standing Committee, on the red carpet of the Great Hall of the People in Beijing. In addition to Mr. Xi and China’s premier, Li Keqiang, the committee included five new members, all men in their 60s.
“Over the past five years, we’ve done a lot. Some work has been finished, some we must continue with,” Mr. Xi, 64, said after briefly introducing the committee members, who stood stiffly in line. “A new era needs a new look, and even more needs new accomplishments,” he added.
Friday, October 20, 2017
China’s leader Xi Jinping declares the start of a “new era”
It sounds much like the old one—only more so
The Economist
Oct 21st 2017 | BEIJING
IN THE days before the opening on October 18th of the Chinese Communist Party’s quinquennial congress, the country’s security officials put their surveillance efforts into overdrive. On Chang’an Avenue, the boulevard that passes by the venue in Tiananmen Square, naked flames were banned. Tough luck for restaurants, family dinners and smokers. Out-of-towners driving to the capital were stopped at checkpoints and made to sign papers promising not to get into trouble during the week of the congress. Foreigners were barred from travelling to Tibet. The region is well over 1,000 miles from the capital, but the party fears that even a lone banner-waving separatist sympathiser that far away could spoil the event in Beijing.
Sunday, August 27, 2017
Chastised by E.U., a Resentful Greece Embraces China’s Cash and Interests
By JASON HOROWITZ and LIZ ALDERMANAUG. 26, 2017
The New York Times
ATHENS — After years of struggling under austerity imposed by European partners and a chilly shoulder from the United States, Greece has embraced the advances of China, its most ardent and geopolitically ambitious suitor.
While Europe was busy squeezing Greece, the Chinese swooped in with bucket-loads of investments that have begun to pay off, not only economically but also by apparently giving China a political foothold in Greece, and by extension, in Europe.
Last summer, Greece helped stop the European Union from issuing a unified statement against Chinese aggression in the South China Sea. This June, Athens prevented the bloc from condemning China’s human rights record. Days later it opposed tougher screening of Chinese investments in Europe.
Tuesday, June 20, 2017
In Greece, China Finds an Ally Against Human Rights Criticism
By NICK CUMMING-BRUCE and SOMINI SENGUPTAJUNE 19, 2017
GENEVA — China has long won diplomatic allies in the world’s poor countries by helping them build expensive roads and ports. Now, it appears to have similarly won over a needy country in Europe.
At a meeting of the United Nations Human Rights Council this month in Geneva, the European Union sought to draw renewed attention to human rights abuses in China — only to be blocked by one of its member countries, Greece. A spokesman for the Greek Foreign Ministry in Athens called it “unproductive criticism.”
Monday, June 19, 2017
Greece blocks EU statement on China human rights at U.N.
Sun Jun 18, 2017 | 5:43pm EDT
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Tuesday, May 16, 2017
China's Xi offers indebted Greece strong support
Sat May 13, 2017 | 12:50am EDT
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Friday, May 5, 2017
The extraordinary ways in which China humiliates Muslims
Bans on “abnormal” beards and even the name “Muhammad”
Economist
CHINESE officials describe the far western province of Xinjiang as a “core area” in the vast swathe of territory covered by the country’s grandiose “Belt and Road Initiative” to boost economic ties with Central Asia and regions beyond. They hope that wealth generated by the scheme will help to make Xinjiang more stable—for years it has been plagued by separatist violence which China says is being fed by global jihadism. But the authorities are not waiting. In recent months they have intensified their efforts to stifle the Islamic identity of Xinjiang’s ethnic Uighurs, fearful that any public display of their religious belief could morph into militancy.
Monday, March 6, 2017
North Korea fires four ballistic missiles into sea, angering Japan and South
Mon Mar 6, 2017 | 3:43am EST
Reuters
By Ju-min Park and Kaori Kaneko | SEOUL/TOKYO
North Korea fired four ballistic missiles into the sea off Japan's northwest on Monday, angering South Korea and Japan, days after it promised retaliation over U.S.-South Korea military drills it sees as a preparation for war.
South Korea's military said the missiles were unlikely to have been intercontinental ballistic missiles (ICBM), which can reach the United States. The missiles flew on average 1,000 km (620 miles) and reached a height of 260 km (160 miles).
Reuters
By Ju-min Park and Kaori Kaneko | SEOUL/TOKYO
North Korea fired four ballistic missiles into the sea off Japan's northwest on Monday, angering South Korea and Japan, days after it promised retaliation over U.S.-South Korea military drills it sees as a preparation for war.
South Korea's military said the missiles were unlikely to have been intercontinental ballistic missiles (ICBM), which can reach the United States. The missiles flew on average 1,000 km (620 miles) and reached a height of 260 km (160 miles).
Friday, January 20, 2017
China’s 6.7% Growth Fueled by Soaring Real Estate and Consumer Spending
By KEITH BRADSHERJAN. 19, 2017
The New York Times
BEIJING — China’s economy grew 6.7 percent last year and even accelerated slightly to 6.8 percent in the fourth quarter, the government announced on Friday morning, while dismissing concerns about the enormous lending that was needed to achieve that growth.
The strong results came after a weak start last year, when China’s currency and stock market were tumbling and many foreign investors fretted that the country’s three decades of robust economic expansion might be ending.
The New York Times
BEIJING — China’s economy grew 6.7 percent last year and even accelerated slightly to 6.8 percent in the fourth quarter, the government announced on Friday morning, while dismissing concerns about the enormous lending that was needed to achieve that growth.
The strong results came after a weak start last year, when China’s currency and stock market were tumbling and many foreign investors fretted that the country’s three decades of robust economic expansion might be ending.
Wednesday, December 14, 2016
U.S. ready to confront Beijing on South China Sea: admiral
Wed Dec 14, 2016 | 3:48am EST
Reuters
By Colin Packham | SYDNEY
The United States is ready to confront China should it continue its overreaching maritime claims in the South China Sea, the head of the U.S. Pacific fleet said on Wednesday, comments that threaten to escalate tensions between the two global rivals.
China claims most of the resource-rich South China Sea through which about $5 trillion in ship-borne trade passes every year. Neighbors Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims.
The United States has called on China to respect the findings of the arbitration court in The Hague earlier this year which invalidated its vast territorial claims in the strategic waterway.
Reuters
By Colin Packham | SYDNEY
The United States is ready to confront China should it continue its overreaching maritime claims in the South China Sea, the head of the U.S. Pacific fleet said on Wednesday, comments that threaten to escalate tensions between the two global rivals.
China claims most of the resource-rich South China Sea through which about $5 trillion in ship-borne trade passes every year. Neighbors Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims.
The United States has called on China to respect the findings of the arbitration court in The Hague earlier this year which invalidated its vast territorial claims in the strategic waterway.
Too big to fail: China maps out its Trump strategy
Wed Dec 14, 2016 | 2:15am EST
Reuters
By Ben Blanchard and Christian Shepherd | BEIJING
When Donald Trump becomes U.S. president next month, one issue above all others could force his new administration to work closely with China and underscore why he and Beijing need each other - North Korea.
A nuclear armed North Korea, developing missiles that could hit the U.S. west coast, is clearly bad news for Washington but also Pyongyang's sometimes-reluctant ally Beijing, which fears one day those missiles could be aimed at them.
Reuters
By Ben Blanchard and Christian Shepherd | BEIJING
When Donald Trump becomes U.S. president next month, one issue above all others could force his new administration to work closely with China and underscore why he and Beijing need each other - North Korea.
A nuclear armed North Korea, developing missiles that could hit the U.S. west coast, is clearly bad news for Washington but also Pyongyang's sometimes-reluctant ally Beijing, which fears one day those missiles could be aimed at them.
Tuesday, December 13, 2016
Inside China’s Global Spending Spree
By Scott Cendrowski
Photograph by Teru Onishi for Fortune
DECEMBER 12, 2016, 6:30 AM EST
FORTUNE
“One Belt, One Road,” China’s $3 trillion infrastructure-building campaign, could be a windfall for some Western companies and investors.
The high-rise coastal city of Dubai plays host to all kinds of luxury oddities: indoor ski slopes, gold-bar vending machines, vast artificial archipelagoes shaped like palm trees. But six miles inland, something just as unusual, if far less gaudy, is taking shape—the first coal-fired power plant in the Middle East.
Trump draws rebukes after saying U.S. isn’t bound by one-China policy
The Washington Post
By Emily Rauhala December 12 at 9:43 AM
BEIJING — Donald Trump is talking about Taiwan again — and so is China, in angry and mocking comments Monday that questioned whether the president-elect grasps a core element of relations between the world’s top economic powers.
In an interview broadcast Sunday, Trump said the United States would not necessarily be bound by the one-China policy — the diplomatic understanding that underpins ties between Washington and Beijing and that leaves China’s rival Taiwan on the diplomatic sidelines with the United States.
Monday, December 5, 2016
China says Trump clear about Taiwan, in touch with his team
Mon Dec 5, 2016 | 5:20am EST
Reuters
By Ben Blanchard and Roberta Rampton | BEIJING/WASHINGTON
U.S. President-elect Trump is clear about China's position on the Taiwan issue and China has maintained contacts with his team, the foreign ministry said on Monday, as Trump took to Twitter to complain about Chinese economic and military policy.
Trump's unusual call with Taiwan President Tsai Ing-wen on Friday prompted a diplomatic protest on Saturday, though U.S. Vice President-elect Mike Pence played down the telephone conversation, saying it was a "courtesy" call, not intended to show a shift in U.S. policy on China.
Reuters
By Ben Blanchard and Roberta Rampton | BEIJING/WASHINGTON
U.S. President-elect Trump is clear about China's position on the Taiwan issue and China has maintained contacts with his team, the foreign ministry said on Monday, as Trump took to Twitter to complain about Chinese economic and military policy.
Trump's unusual call with Taiwan President Tsai Ing-wen on Friday prompted a diplomatic protest on Saturday, though U.S. Vice President-elect Mike Pence played down the telephone conversation, saying it was a "courtesy" call, not intended to show a shift in U.S. policy on China.
Wednesday, November 16, 2016
Another Financial Warning Sign Is Flashing in China
Bloomberg
Bloomberg News
November 15, 2016 — 11:00 PM EET
Add another credit indicator to the financial warning signs flashing in China.
The adjusted loan-to-deposit ratio, which includes a range of off-balance sheet items and is an indicator of the banking system’s ability to weather stress, climbed to 80 percent as of June 30, according to S&P Global Ratings. For some smaller lenders, the ratio has already topped 100 percent, S&P estimates.
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