With his policies, particularly protectionism, Trump is about to throw the US’ world leadership in the bin. He sold an illusion to his voters since the industrial jobs which disappeared with globalisation and technology will not return. What is clear is that the consequences will hurt us all.
Hu Shuli via Caixin | It has been six years since China adopted what has been tagged “a prudent monetary policy stance” in 2011. In practice, policies have been slightly eased to alleviate pressure from a slowing economy and rein in financial market fluctuations.
We can expect a rise in interest rates in 2017, driven up by the Fed, but fuelled by doubts over Europe. And I would bet the dollar will appreciate against the euro and the yuan – and sterling – although I am not normally a betting man.
Henry M. Paulson Jr via Caixin | Trade does result in very real and serious job losses, while its benefits are spread more broadly over the entire U.S. economy. Yet many job losses are not a result of trade; they are actually driven by productivity gains related to rapid advancements in technology, a powerful force disrupting labor markets globally and affecting numerous countries, including the U.S. and China.
Caixin | Late summer and early autumn is traditionally a hot season for property sales in China. In 30 major cities, August property sales by floor space increased 27 %year-on-year to 22.9 million square meters, according to E-House China R&D Institute.
By W. Xinyi, L.Rongde and X.Yuanyuan via Caixin | China plans to set up seven new free trade zones, mostly in inland regions, to attract foreign investment amid the national economic slowdown.
Peter Drysdale via Caixin | China has a lead role to play at the Hangzhou G20 meetings on opening up global trade, investment, deeper financial reform
Fan Ruohong and Chen Na via Caixin | Renewable energy accounted for nearly a quarter of China’s power generation last year, even as wind and solar farms with 39 billion kilowatt-hours of capacity sat idle due to poor planning in the rush to meet Beijing’s ambitious green energy targets, the National Energy Administration (NEA) said.
Shi Rui, Wang Luyi, Li Rongde via Caixin | The number of provinces with pension spending deficits doubled over the last year, according to a new report, underscoring the urgency for creating a national system that would let wealthier coastal regions subsidize poorer interior ones. Pension funds in six provinces paid out more money than they collected in 2015, up from three regions a year earlier, according to the 2015 China Social Security Development Report compiled by the Ministry of Human Resources and Social Security.
Hu Shuli via Caixin | Chinese sports fans following the 2016 Summer Olympics in Rio de Janeiro have noticed something different about the latest generation of Olympians representing their country. Today’s young athletes are a lot less inclined to cry if they fail to win a gold medal. It’s a whole new ball game: China has replaced a form of gold-medal worship with true appreciation for athletic endeavors and achievement.