Translation Tag: finance
Researchers at Yunnan University and East China University of Political Science argue China’s aid and investment to Africa are inaccurately portrayed by Western countries as “debt trap diplomacy,” exacerbating sovereign debt risks in African countries and driven primarily by strategic rather than commercial objectives. To rebut and limit the reach of such arguments, the authors suggest Beijing seek ways to diversify Chinese investment and aid across sectors and projects, help Chinese enterprises assess investment risk and follow laws and social norms of host countries, better target aid to national development conditions, and strengthen media engagement in Africa and the West.
A report to the National Congress of the Chinese Communist Party (CCP), more commonly referred to as just the “Party Congress,” is arguably the most authoritative document in the Chinese Party-state ecosystem. It is technically the report of the outgoing Central Committee (here, the 16th Central Committee) at the quinquennial gathering of the Party Congress (here, the 17th Party Congress). Delivered by the General Secretary of the CCP (here, Hu Jintao), the report not only provides an official summary of the Party’s work over the past five years, but also outlines the official Party stance on all major policy issues and sets policy priorities for the incoming Central Committee (here, the 17th Central Committee).
Zhou Yu, a researcher at the Shanghai Academy of Social Sciences, suggests the U.S. will increasingly resort to financial sanctions to pursue its geopolitical goals. Frequent and large-scale deployment of sanctions, Zhou argues, will ultimately undermine their effectiveness by encouraging other states to reduce their dependence on global financial public goods controlled by the U.S., and by dampening enthusiasm for sanctions among other Western powers, which the U.S. relies on to make its actions effective.
A researcher affiliated with the People’s Bank of China examines the nature and effects of a perceived growing U.S. tendency to deploy financial sanctions toward geopolitical objectives. The article outlines an extensive set of recommendations Beijing can take to better prepare for and protect against various sanctions scenarios, including deepening China’s global economic integration, improving diplomatic and trade ties with U.S. allies and partners, and promoting reform of the international monetary order.
Zhang Bei, a senior economist at the People’s Bank of China, warns that risks to China’s financial security are increasing amid an evolving geopolitical environment. Zhang sees sanctions as a double-edged sword, with economic and reputational costs to the sanctioning country—particularly if the sanctioned country is well-integrated with the global economy and financial markets. As a result, Zhang argues that China can reduce the likelihood and impact of potential sanctions by increasing financial openness and integration, diversifying trade and investment relations, and taking a more active role in global economic and monetary governance, including through measured RMB internationalization.
In this second installment of a three-part paper on the collapse of the Soviet Union, former Vice President of the Chinese Academy of Social Sciences Li Shenming highlights the role of the “fifth column”—forces that worked within the USSR and the leadership of the Communist Party of the Soviet Union (CPSU) to spread Western values and viewpoints. As a prognosis, Li argues that the CCP must prioritize ideological work, maintain absolute control over the military, and be vigilant of what he terms Western efforts to “infiltrate” China, including through cultural and economic exchange.
Yao Yang, dean of the National School of Development (NSD) at Peking University, identifies three near-term challenges to China’s economic development. The first two—insufficient consumer demand and declining interest in real estate purchases — have both been affected by declining consumer confidence amid the COVID-19 pandemic and ensuing lockdown measures. The third challenge is the risk of recession in key export markets such as the United States and Europe, which may negatively affect Chinese exports. To address these challenges, Yao emphasizes the importance of policies designed to stabilize the real estate market, as well as measures to shore up consumer confidence (which he calls “more precious than gold”), such as direct payments to Chinese citizens. Yao suggests that Beijing should lead by example and implement a more “rational” approach to COVID-19 prevention and control. This speech was delivered to the China Economic Observation (CEO) conference just prior to the November 2022 protests across China opposing the Chinese government’s “dynamic zero-COVID” measures.
This document is the official readout of the June 2022 meeting of the Politburo, one of the CCP’s key decisionmaking bodies. The meeting agenda included a review of a report on political and discipline inspections of financial institutions, among other matters.
This article, published by the Development Research Center of the State Council, unpacks the “disorderly expansion of capital,” a term that rose to prominence in the wake of Beijing’s tech crackdown during the summer of 2021.
A former official at the China Securities Regulatory Commission encourages China to develop its own financial model in order to avoid the pitfalls of the U.S. model. He argues against excessive financialization, in order to avoid harming the development of the real economy.