Translation Tag: finance
Days after Trump’s “Liberation Day” tariffs announcement, Guan Tao, the global chief economist at BOCI China, assesses the impacts of the intensifying U.S.-China trade war. He compares this round of tariffs with the earlier tariffs imposed during Trump’s first term, concluding that their impacts on China this year may be similar to those of 2019. However, Guan views the external environment as increasingly suppressive and unpredictable, arguing that it will force China to “focus on doing its own things well” and spur domestic reforms spanning its development pattern, trade model, and macroeconomic policy priorities. Guan expects U.S.-China economic and trade relations to worsen but is confident these domestic adjustments will enable China to weather the “tariff storm.”
Three Chinese state-affiliated researchers Jiang Zhao, Dong Chao, and Fu Jiang assess the impact of Trump 2.0 on the global economy and U.S.-China trade relations. They foresee Trump’s policies as harmful to multilateral economic cooperation, but they believe the impact on China will be limited. They also propose a slate of countermeasures for Beijing, which include further diversifying export markets and trade cooperation with emerging economies, optimizing China’s ability to attract foreign investment, accelerating RMB internationalization, and “telling China’s economic development story well” to influence global public opinion.
Yang Guoliang, a professor at the University of International Business and Economics (UIBE) in Beijing, frames U.S. pursuit of strategic competition with China as a reemergence of Western imperialism. He suggests the relative shift in economic power away from the West in past decades, toward the rest of the world, has led Washington to characterize globalization as “out-of-control” and introduce its own set of restrictions on international commercial engagement. While reiterating the need for continued reform and opening up, he underscores the need for China to set its own limits on commercial openness — particularly in the realm of inbound foreign investment from the West — in order to safeguard its sovereignty, security and development interests.
In this article, Renmin University scholar Cui Shoujun assesses the drivers of evolving China-Latin America relations and identifies tailwinds and headwinds for this relationship down the road. He identifies 2015 as a transformative year in this relationship, marked by the establishment of the China-CELAC forum and more strategic regional engagement by China in the following years. He suggests that going forward, Beijing will need to appreciate diversity among regional capitals, encourage broader and more even Chinese commercial engagement across Latin American countries, and navigate U.S. intentions and anxieties about PRC presence in Latin America in seeking to develop ties with the region.
In this interview, Xu Poling, a Russia expert at the Chinese Academy of Social Sciences, reflects on lessons learned from recent research trips to the country. He seeks to explain Russia’s relative resilience in the face of sanctions, concluding several factors are at work – the quick imposition of strict outbound capital controls, forced sales of foreign currency to increase central bank holdings, insistence on selling gas to Europe in rubles, and de-dollarization efforts since 2014.
This article, penned by scholars from the Chinese Academy of Social Sciences and Tongji University, explores how China can use the BRI to navigate U.S. trade and technology controls. Drawing on three case studies of BRI projects in Southeast Asia, the authors suggest Beijing can better insulate itself from the impact of U.S. controls through deepened economic integration with BRI partners. They also argue it will be important to ensure BRI projects benefit partners in areas from technology upgrading to human capital development, to challenge what they see as Western efforts to discredit the BRI among China’s neighboring countries.
In this lengthy article, a BRI researcher at China Development Institute, a Shenzhen-based think tank, outlines perceived challenges to the Belt and Road Initiative around its 10th anniversary. These include geopolitical risks from competition with the United States, political and financial instability within partner countries, weak economic growth, and ill-defined goals and poor marketing. The author recommends Beijing improve risk monitoring and project oversight to manage financial and economic risks, and improve the BRI’s reputation across the globe by deepening diplomatic cooperation with a wide array of countries.
A researcher at Peking University explores risks to future projects under the Belt and Road Initiative (BRI). These risks, in his analysis, range from intensifying geopolitical competition to instability in the business environments of partner countries. The author highlights the need to address concerns in partner countries about the ultimate intent of BRI investments, associated with the heavy involvement of China’s SOEs. To address these risks, he recommends increasing intergovernmental dialogue with host countries, implementing risk assessment systems, and improving the reputation of the BRI by marketing Chinese culture through international exchanges, among other measures.
Qu Qingshan, one of China’s top Party theorists, argues that developing and modernizing the financial system is an integral component in the pursuit of modernization and “rejuvenation of the Chinese nation.” He emphasizes that for China to be a strong player in the global financial system, several structural risks in the domestic finance industry must be addressed. This piece appears in one of the leading Party newspapers and echoes Xi Jinping’s recent emphasis on strengthening the financial system, signaling policy priorities.
This is a news report of a January State Council meeting, where rural revitalization, regulation of the food delivery industry, and capital market regulation were discussed. Alongside these topics, the State Council emphasized the need to better integrate artificial intelligence (AI) in manufacturing. This signals focus at senior leadership levels on the role AI can play in China’s bid to become an advanced manufacturing powerhouse.