Dissenting on debt levels
Aug 18, 2017 (WiC 376)
“The scenario of an abrupt slowdown of the Chinese economy is highly unlikely”

Jin Zhongxia, China’s representative at the IMF, rejects that body’s latest warning that the Chinese economy will face increasing risks due to “dangerous” debt levels. The IMF has forecast that China’s economy will grow annually at 6.4% between 2018-20 and the government will hit its target of doubling 2010’s GDP level. However, it said debt levels will have to hit 290% of GDP by 2022 to do so, raising the prospect of a “disruptive adjustment” (WiC suspects this is bureaucratese for ‘crisis’).

Raising the steaks
Jul 21, 2017 (WiC 375)
“If we could achieve the same sort of market share in China as we’ve achieved in other countries, that could mean a potential 20% increase in the exports of beef from Nebraska”

The governor of Nebraska, Pete Ricketts, tells China Daily that the first of his state’s beef was recently flown to Shanghai, after the 14-year ban was lifted on US exports of the meat to China. He said beef exports to China could add $200 million annually to the Nebraskan economy.

Trade talks
Jul 14, 2017 (WiC 374)
“I credit it to the wisdom of our president [Rodrigo Duterte] to really be more realistic and practical, to consider the positive points of having a relationship with China renewed”

The Philippine Secretary of Trade and Industry Ramon Lopez lauds a 34% year-on-year increase in the country’s exports to China. He told the South China Morning Post this was down to taking a “realistic and practical” approach to disputes over islands in the South China Sea.

Birthday message
Jul 7, 2017 (WiC 373)
“In today’s world, if any party, country and people should be proud, the CCP, the PRC and the Chinese people have the most reasons to be proud”

President Xi Jinping celebrates the Chinese Communist Party’s (CCP) 96th birthday. The People’s Republic of China (PRC) came into being in 1949.