Chinese Economics Thread

[antiterror13]

Countries like NZ and Australia already have free trade agreements with China, and are members of the RCEP led by China. TTP would have met the ultimate desire of both counties which was access to the North American market. So I guess its back to bilateral trade talks….. sigh

Actually China was invited to join the TTP in the beginning but declined. An attempt to join later was rejected on a variety of reasons. Eg It was felt in some quarters that in the interim China under Xi had moved China away from a domestic economy that was compatible with a rules based open trading system which was at the centre of the TTP

Therefore to come up with a direct alternative similar to what the TTP offers means, China would have to be willing to incorporate a higher standard than what the RCEP has.

also remember the more significant free trade agreement between China and ASEAN (10 countries) since 1 Jan 2010.

Note China - NZ FTA was signed in 2008 and with Australia 20 Dec 2015. With South Korea also 20 Dec 2015

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My point is ... that China already signed many and many (and many more to come) FTA with other countries

 

[broadsword]

Wow, money pouring out of China... Up until now it was against the rules and illegal. Now that's a new fashion! Probably coming out from Mr Xi's anti-crruption campaign. Those who weren't sanctioned by the state and did that against the rules are into the famous campaign. Those smart who waited are now free to go!

That's the truth.

 

[antiterror13]

@t2contra ... what is that for ... is it for me?

We dont need those thing ... not in this forum

 

[broadsword]

Wow, money pouring out of China... Up until now it was against the rules and illegal. Now that's a new fashion! Probably coming out from Mr Xi's anti-crruption campaign. Those who weren't sanctioned by the state and did that against the rules are into the famous campaign. Those smart who waited are now free to go!

That's the truth.

Here's the truth...

China has 130,000 more multimillionaires this year
chinadaily.com.cn | Updated: 2016-11-10



View of the Canton Tower, left, and other skyscrapers and high-rise buildings along the Pearl River in Guangzhou city, South China's Guangdong province, May 31, 2014.[Photo/VCG]

The number of Chinese multimillionaires has increased by 130,000 over the past year, according to a new report.

The report called "Going Global: Trends of Chinese High Net Worth Individuals 2016" was jointly released by the Hurun Research Institute and China CITIC Bank Private Banking.

As of May 2016, there were 1.34 million multimillionaires in the Chinese mainland, 10.7 percent or 130,000 more than last year, the report said.

These multimillionaires include entrepreneurs, gold-collar workers, real estate investors and professional stocks investors, accounting for 55, 20, 15 and 10 percent respectively.

With the renmibi's inclusion in the SDR basket and the decline in domestic investment yield, a growing number of rich Chinese people have started considering global asset allocation.

The report showed 80.3 percent invested in overseas financial portfolios with an aim of asset allocation and risk diversification, followed by protecting and increasing their assets (67.4 percent) and preparing for their children to study abroad (37.1 percent).

In terms of investment trends, Chinese multimillionaires preferred products with stable dividends. Among their overseas portfolios, foreign exchange deposits are the most common product, accounting for 62.9 percent, followed by insurance (45 percent) and stocks (41.4 percent).

Compared with common people, there's strong demand from China's high net worth individuals to go abroad, including traveling, shopping, children's education, business, investment and medical cosmetology.

The multimillionaires who have invested in overseas property own 2.3 homes abroad on average. Among them, 74.9 percent aim for investment, and 56.4 percent for their children's education.

Guangdong province, with 240,000 people whose assets are worth more than 10 million yuan, became the place with the most multimillionaires this year, followed by Beijing, Shanghai and Zhejiang province.

 

[broadsword]

@t2contra ... what is that for ... is it for me?

We dont need those thing ... not in this forum

Somebody else needs it....before he kills himself.

 

[advill]

If we examine closely, China has come out TOPS in trade, manufacturing, project developments (railways, infrastructures etc.) and investments in many countries. The Chinese have achieved albeit with a few problems, remarkable successes in these areas. Besides China, the Overseas Chinese have also been very hardworking and conscientious business entrepreneurs for many decades in the US, Canada, some Western countries; and definitely in South East Asia. Of course there bound to be jealousies and threats used by a few economic declining countries. Better for them to keep their "houses" in order first, and cooperate constructively with China and the others, for the sake of progress and peace in most, if not all regions.

 

[Blackstone]

Wow, money pouring out of China... Up until now it was against the rules and illegal. Now that's a new fashion! Probably coming out from Mr Xi's anti-crruption campaign. Those who weren't sanctioned by the state and did that against the rules are into the famous campaign. Those smart who waited are now free to go!

That's the truth.

The truth is with the demise of TPP, US left the Asian economic battlefield to China, who is consolidating the region with AIIB, OBOR, and FTAAP. That's the naked truth.

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Administration officials said Mr Obama would try to explain the situation to leaders of the 11 other countries in the TTP pact next week when he attends a regional summit in Peru. The deal, which President Obama hoped would be part of his legacy, was slammed by President-elect Donald Trump during the election campaign, and Republicans made it clear they wouldn't consider it during the lame duck session. The USTR statement follows a Twitter message on Friday from Jared Bernstein, a former economic adviser to Vice President Joe Biden, that the administration was giving up on a lame-duck TPP vote. Matthew McAlvanah, a spokesman for USA trade representative Mike Froman, said Friday that despite all the work the administration has done with lawmakers on Capitol Hill "ultimately it is a legislative process, and the final step is for Congress to take". The failure to pass what is by far the biggest trade agreement in more than a decade is a bitter defeat for Mr. Obama, whose belated but fervent support for freer trade divided his party and complicated the campaign of Mrs. Clinton. Sen. Chuck Schumer, who will become the chamber's top Democrat in January, also told labor leaders Thursday the deal would not be ratified, according to a source familiar with his remarks. President-elect Donald Trump walks with Senate Majority Leader Mitch McConnell on Capitol Hill. The US already has trade agreements with numerous 12 participating nations, but the TPP would draw it closer to Japan, the world's third-largest economy and a significant ally of Washington. "We've got a strong case to make with regard to the Trans-Pacific Partnership, and we're going to encourage Republican leaders to take it up and pass it because of the enormous benefits that would accrue to American workers, American businesses, and the broader USA economy", he added. But experts say that with Trump's election the deal is a non-starter. Neither proposed trade framework would have the TPP's safeguards for intellectual property, the environment, labor or other USA priorities, administration officials say. It's a piece of good news for USA labor groups, who opposed the deal on the grounds that it will harm American workers' wages, send jobs overseas, increase the prices of vital prescription drugs by extending patents, and harm the environment by allowing corporations to challenge laws that could affect their profits in a dozen countries. Trump's aides had also told the Obama administration to stand down on going forward with foreign policies after the election. And he said it's up to Trump whether any trade deal would move forward after that. TheCelebrityTruth

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[SamuraiBlue]

I wonder why everyone is saying TPP is dead?
Yes the US may not participate but there are 11 other nations that is participating.
It would be mostly natural resources but nations like Peru, Canada, Chile, Australia and/or Vietnam which are rich of it and Japan, Singapore and/or Taiwan would use it for good use if they participate.
Would they just give up after 8 years of negotiation?
I doubt it.

 

[vincent]

I wonder why everyone is saying TPP is dead?
Yes the US may not participate but there are 11 other nations that is participating.
It would be mostly natural resources but nations like Peru, Canada, Chile, Australia and/or Vietnam which are rich of it and Japan, Singapore and/or Taiwan would use it for good use if they participate.
Would they just give up after 8 years of negotiation?
I doubt it.

A lot of the contents are there because of US' insistence. Others agreed to them because of the promised access to the American market. Without the US, the other countries might as well start over, maybe with RCEP.

 

[Equation]

Apply evenly to effective areas....LOL!