Author: UYA

China thinks long-term on financial stability — so should we   [Copy link] 中文

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Post time 2018-8-17 15:26:59 |Display all floors
UYA Post time: 2018-8-17 12:34


Your posts are starting to sound like a supporter of a banned poster, who uses emojis
[/quote]
Your posts are starting to sound like a supporter of a banned poster, who uses emojis


Trump would be banned from here... But as instigator of the backlash against China he deserves full credit.

But yes I'm sure this website has banned most people who don't mouth the party lines well enough sooner or later.

I'm just pointing out reasons for my opinion.


Your 'reason' is 50,000 soybean jobs that might not go away because the beans will just be sold to China via south america, could just be moved into a different crop, or even if lost no one gives a crap in the US because these are the worst kind of job anyone can have and we have plenty of other employment opportunities better since the job market in the US is at historically positive levels.

Hence, DESPERATE just as a mater of fact compared to what is going on with chinese, debt, bubble, and currency/stock market, and impending $200 billion 25% tariffs in the coming wee, and the threat to millions of Chinese jobs compared to the 50,000 US crap farming jobs you are trying to tell us to worry about... What kind of paint chips are you eating?

Your starting to make this a "personal" thing?


It would be typically Chinese of you to make this out to be a personal thing when your reasons for being worried about the US (50,000 soybean jobs at most) are pathetic compared to what is already going on in China already observers are saying you can expect going forward with further tariffs.

Naturally at the end of the day Chinese take it 'personally' whenever their reality that China is infallible is ever questioned. This is the kind of stuff that only make other rational logical people think less of you.

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Post time 2018-8-17 15:32:52 |Display all floors
UYA Post time: 2018-8-17 12:34


Your posts are starting to sound like a supporter of a banned poster, who uses emojis
[/quote]

What was it you were saying about this 'super smart' long term well throughout out plan?

Reuters, August 15th, 2018
"China Vows To Keep It's Feet Dry While Drowning
BEIJING (Reuters) - China’s state planner pledged on Wednesday to keep debt levels under control even as Beijing rolls out fresh stimulus to support the stumbling economy as a trade war with the U.S. deepens.

The comments by the National Development and Reform Commission (NDRC) came a day after China reported surprisingly weak data that showed investment growth has slowed to a record low.

To stabilize business conditions and weather the trade war, Beijing is stepping up infrastructure spending and injecting more funds into the banking system, which is lowering borrowing costs. New loans by China’s largely state-backed banks surged 75 percent in July from a year earlier.

But some China watchers fear Beijing’s shift in priorities may mark a return to its unrestrained, credit-fueled growth, reversing years of work by regulators to reduce risks in the financial system and stem a rapid build-up in debt.

NDRC spokesman Cong Liang told a media briefing that new spending on roads, railways, elderly care and education will not be as heavy as in the past and will aim to meet real demand, reducing the risk of over-capacity.

Authorities are also hoping to attract private investment in such projects to reduce the government’s debt burden, he said, noting that regulators are relaxing restrictions on local governments’ ability to sell special bonds to fund projects.

Several large rail projects have been announced in just the last few days.

On Wednesday, the NDRC gave Jiangsu Communications Holdings the green-light to sell up to 20 billion yuan ($2.90 billion) of so-called enterprise bonds, or debt issued by state-owned firms.

Of the proceeds, 12 billion yuan will be used to finance high-speed railway and toll road projects.

The issuance was the biggest enterprise bond approved by the NDRC since mid-June.

In a more tangible sign of pump-priming, builders and engineers started work on a revamp of a train station in southwest Beijing on Monday. The station is said to be the biggest in Asia by size, and the project is budgeted to cost 7.2 billion yuan.

However, analysts such as Capital Economics have cautioned that new projects are unlikely to put a floor under economic growth until the middle of next year.

Cong reiterated a pledge made by the ruling Communist Party’s Politburo last month that China will still meet this year’s economic growth target of around 6.5 percent, despite the trade war.

Analysts say that will surely require more spending, but Cong maintained that the government will push ahead with its “structural deleveraging” in a gradual and orderly way.

Highlighting the dangers policymakers face in stimulating the slowing economy without fueling asset bubbles, data on Wednesday showed China’s new home prices accelerated at their fastest pace in almost two years in July.

Cong said China would “resolutely curb” property price rises.

“We still have sufficient capacity to cope with impact from escalating trade frictions, and ensure the successful completion of the economic and social development goals set at the beginning of the year,” Cong said.

At the start of this year, China’s leaders had made risk and debt reduction their top priority, even if it led to somewhat slower growth.

That scenario appeared to be playing out roughly to plan earlier in the year, before the trade war erupted, with growth easing only slightly to 6.7 percent in the second quarter year-on-year.
China, U.S. will restart talks to solve trade war

Some economists are now cutting their second-half and full-year growth estimates for China in the wake of Tuesday’s weak readings.

While stressing it does not see a hard landing for the world’s second-largest economy, ING said in a note it has trimmed its 2018 forecast to 6.6 percent from 6.7 percent.

It sees growth cooling to 6.5 percent and 6.3 percent in the third and fourth quarters, respectively, as tougher U.S. tariffs start to bite.

So far, official data shows trade frictions have had limited impact on the economy, and any impact from higher tariffs will be “controllable”, the NDRC’s Cong said.

Many local governments and state firms are still saddled with debt following China’s massive stimulus during the global financial crisis.

Despite some progress in its risk crackdown in the last few years, China is still among the economies most at risk of a banking crisis, the Bank for International Settlements (BIS) said earlier this year.

China’s overall debt level rose 2.7 percentage points in 2017 to 251.3 percent of gross domestic product, according to the central bank."

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Post time 2018-8-17 16:36:40 |Display all floors
Boston101 Post time: 2018-8-15 05:41
If China doesn't need more arable land, then why is China importing so much food; such as soy?

re:   "then why is China importing so much food; such as soy"

  You mind asking you why the U.S. is  importing so much from China



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Post time 2018-8-17 17:25:58 |Display all floors
emanreus Post time: 2018-8-17 16:36
re:   "then why is China importing so much food; such as soy"

  You mind asking you why the U.S.  ...

Because the Chinese flood the market with cheap stuff

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Post time 2018-8-17 18:12:39 |Display all floors
Boston101 Post time: 2018-8-17 17:25
Because the Chinese flood the market with cheap stuff

They wouldn't sell it, unless Americans buy it.

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Post time 2018-8-17 18:14:55 |Display all floors
TruismStrike Post time: 2018-8-17 15:32
Your posts are starting to sound like a supporter of a banned poster, who uses emojis

[/quote]

Are Chinese people running around like the sky is falling?
Again.....
Western media will say they are winning and China is in a panic.

From what I see....
China has not blinked

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Post time 2018-8-18 14:34:12 |Display all floors
It is still too early to conclude. Whatever news that is going on out there is just speculation. However, the one that is wobbling and jittery usually makes a lot of noise, to overcome one's own anxiety and to scare the opponent.

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