The number of rich Chinese families has dropped, although only slightly, says this year’s Hurun Wealth Report, according to the China Daily. Both a dropping economy and the trade war triggered off the effect, says Rupert Hoogewerf, chairman of the Hurun Report, now in its 11th year.
Private companies have a hard time getting bank loans, says economist Arthur Kroeber to Barron’s. But that is nothing new, he adds, the problem is that state-owned companies get loans too easy. That division is more important than the level of China’s debts, he adds. “Too much attention has been paid to the debt problem.”
International trade veteran Harry Broadman discusses how the world’s boardrooms have to shape up to deal with the fallout of the trade war and global tumult hitting companies and countries.
Trade negotiations between the US and China have moved away from substantial issues, as the Trump administration is using the ongoing trade war as a tool to win the presidential elections in the US 2020, says Harry Broadman, former top trade and economic adviser to Presidents George H.W. Bush and Bill Clinton to CNBC.
Many stories about China and the Chinese in Africa are simply myths, says journalist and author Howard French, of China’s Second Continent: How a Million Migrants Are Building a New Empire in Africa. He discusses how Chinese entrepreneurs ended up in Africa. “There was no big masterplan by the Chinese state to do so,” he says at The Columbia Global Centers in Nairobi.
The phase-1 trade deal between China and the US is a non-deal paving the way out of an untenable situation, says leading economist Arthur Kroeber in Money Week.
Mainland China has been watching the recent events in Hong Kong with astonishment, to say the least. LSE scholar, fellow at Harvard Kennedy School and former Chinese national television (CCTV) news anchor Shirley Ze Yu explains in the South China Morning Post how the former British colony has fallen into China’s economic orbit and how – in the long run – it will join the mainland.
The China Speakers Bureau is happy to announce that Dr. Shirley Ze Yu has decided to join the China Speakers Bureau. She is currently visiting Senior Fellow, Institute of Global Affairs at the London School of Economics.
For the first time in 21 years the annual Hurun (China) rich list notes fewer wealthy people, says its chairman Rupert Hoogewerf to AFP. “Nearly 40 percent of those in the rich list two years ago has dropped off,” he said.
US companies make US$544 billion in annual revenue in China, much more than the US exports to China, warns economist Arthur Kroeber at Barrons. Global companies will feel the heat.
China’s consumers are changing because of the trade war and food-driven inflation, says China expert Victor Shih at the Investor Place. They will pick pork over iPhones, he says, with a drastic impact on the stock markets.
The US administration is trying to decouple its economy from China’s. And while there might be some arguments in favor of that position, the treat of decoupling for the world economy is huge, says international trade expert Harry Broadman in Forbes (here in pdf-format). Down the line, the US and global economies will be worse off, he warns.