KEY POINTS
-A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar
-His remarks come ahead of a BRICS summit to be held in August in South Africa
-Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar
India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.
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1,487 comment(s).Last comment by IDQWE001 2023-10-04 18:00
idq, Foong................................................for China bashers like both of u.............China do any thing also wrong la..........there is a very famous poem on the internet about people like u......................................................................
until now, I still cannot figure how a poor country like China can built 40,000 km of HSR............shanghai metro has 800 km compare to Tokyo metro with 200 km. ...and also invest 1 trillion USD in BRI .
the 1 trillion USD BRI is easier to understand....................They have converted 1 trillion of foreign reserves from $ 2 trillion down to $1 trillion into BRI investments.
who feels threatened? Western countries feel threatened because they cannot accept how a communist country than do better than democratic free country. Do Malaysia feel threatened? surely not.
China’s Exports to the US Plunged 24% In June, ......go to zero, China still not scared......China will still carry on ..................USA share of China trade has drop to 15 % ...... when it drops to zero, Biden will be voted out of office and Xi will still be president of china .....see who scared la.
China’s Exports to the US Plunged 24% In June, ..who send kissinger, yellen, blinken others to Beijing? Did China send anyone to Washington? see who more scared.
The world of China bashers....depends where u are who u are. If u are in America , u are expected to be a China basher, all main stream media is expected is expected to be China bashers .
If u are in Taiwan it depends on your political affiliation.
But if u are in Malaysia, it would be rather silly and id.iotic to be a China basher.
Evergrande's overdue results to show steep losses, market eyes liquidity update
HONG KONG (Reuters) - China Evergrande Group (HK:3333), the world's most indebted property developer, is expected to post on Monday significant losses in its long overdue results for 2021 and 2022 - numbers the market will scour for updates on the company's liquidity.
The developer defaulted in late 2021 and has been struggling to complete projects and repay its many suppliers and creditors. After announcing an offshore debt restructuring plan in March, it is now garnering support to complete the process.
With about $300 billion of total liabilities, Evergrande's debt problem has rippled through China's property sector, a pillar of the world's second-largest economy,
No problem as long as the boss still the CCP member he still could enjoy life with his US dollars and girl friends. He might migrate to US same as many Old Red Army 2nd and 3rd generation. One of them was Xi daugter.
When typical chinese has nothing to back-up their view, this is what normally they would do to manupulate us thru their own understanding of moral or racial card hijacking our emotion feeling of guilty.
You are right most of the CCP supporters trying to play race cards it manupulates all Chinese MUST support CCP. CCP does not represent 100% China. Communism and Socialism are not original from ancient China. Those are rubbish from Europe culture.
Some CCP dogs not even could master his ancient language, his parents must be shame on him.
China's deflation pressure builds as consumer prices falter
BEIJING: China's producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation, adding to the case for policymakers to use more stimulus to revive sluggish demand.
The worsening factory-gate price deflation and the move by consumer prices towards deflation for the first time since February 2021 bode ill for China's economic growth.
Momentum in China's post-pandemic recovery has slowed from a brisk pickup seen in the first quarter with demand for industrial and consumer products weakening, raising concerns about the health of the world's second-largest economy.
"We think the more challenging deflation environment and sharp slowdown in growth momentum support our view that the PBOC has entered a rate-cutting cycle," said economists at Barclays in a research note.
Deflation or disinflation ... it is up to you to name it. CCP dogs feel very happy and proud of it. Finally changes not seen in hundred years negative assets bad debts. LOL.
The world of China bashers....depends where u are who u are. If u are in America , u are expected to be a China basher, all main stream media is expected is expected to be China bashers .
If u are in Taiwan it depends on your political affiliation.
But if u are in Malaysia, it would be rather silly and id.iotic to be a China basher.
China used to be famous for toys. Now China is famous for cars, drones, ships, infrastrutures high tech ..... the G7 countries eat what? no wonder they feel threatened.
China's export slide to steepen in June, imports seen down
BEIJING: China's export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories.
Outbound shipments from the world's second-largest economy were projected to have fallen 9.5% year-on-year, following a drop of 7.5% in May, according to the median forecast of 30 economists in the poll finalised on Wednesday.
That would be the worst decline since January, when China's supply chains were grappling with a wave of COVID-19 infections unleashed by the end of harsh pandemic-related restrictions.
Chinese factory activity has been shrinking in recent months and policymakers are now reckoning with the prospect of prolonged slower growth in the world's second-largest economy around just 3% annually, according to economists' forecasts. That is less than half the rates typical throughout recent decades and creates the feel of an economy in recession.
One-third of respondents to the trade poll forecast that exports in June dropped by a double-digit percentage, as in January. Societe Generale was the most bearish, anticipating a drop of 15.7%.
Imports in June are expected to have shrunk by 4.0%, after a fall of 4.5% in May, reflecting persistently weak domestic demand.
China's trade data will be released on Thursday.
Chinese consumer prices teetered on the edge of deflation in June while producer prices fell at their fastest pace in more than seven years, bolstering the case for further policy stimulus.
Weakness in exports was also evident in slower growth of daily average container throughput in June compared with a year earlier, Fitch Ratings said in a note on Monday, while it fell 0.4% year-on-year in the first week of July.
That is incredible. So what seems to be driving these relatively large numbers of Chinese citizens to the border with the U.S. and Mexico?
One of the things we’ve learned from the reporting is the economic aftershock of COVID. Because you might know this very well, China went through a very strict period of COVID lockdown. So a lot of people that we spoke to, a lot of the migrants, they had been small business owners. A lot of them had online stores selling from makeup to clothing to shoes to building supply. And a lot of their business got crushed during the COVID lockdown. So that’s what was described to me as a trigger for the trip.
So tell me about the role of social media in all of this. Are they actively going online and trying to search out ways to get out of China or ways to come to the U.S.?
A lot of people describe to me that they actually came across this by accident. A lot of people describe to me, for example, they just one day saw a video describing how to go to America on their Douyin feed; Douyin’s the Chinese counterpart of TikTok. And then some of the people didn’t understand what was that about, so they did some research – and because of the algorithm, you just keep getting more videos of a similar content. That’s how everything started for many of the people we spoke to.
I find that really surprising, given that we know that China has a lot of control over its Internet content there. And the fact that this would be even available in China, I guess it speaks to something about China’s efforts to try to keep a lock on what the Chinese people know about issues like this.
That’s a great point. One thing we actually found out watching all this Douyin videos is a lot of the daily users, they kind of package this not into like “how do we flee to America” or “how do we migrate to America” – they actually kind of use hashtags such as “international traveling” or like “trekking through the rainforest.” It’s almost like a vacation you’re taking instead of a very dangerous journey you’re taking.
Very interesting. And this prevents authorities from checking what it is that they’re searching for, that kind of thing?
We don’t know that for sure, but people we spoke to said this is kind of a clever way for them to supplement around censorship. One thing that we also found out about kind of the information that this migrant would learn from the Internet is a lot of kind of mixed information, a lot of false information. And a lot of them read this from platforms like Douyin or YouTube. And also just to your point, for example, one of the Internet Douyin influencers – his name is Baozai – his original account posting very detailed information about how to come to America in this way was blocked by Douyin and by other online social media platforms.
Xi daughter studied in America many many years ago...............that time, it is a very popular destination for studies........................................not now.
All CCP members love US dollar and Westerns although keep on promoting hate and fear to their citizens. At last Xi immediate family still follow the natures of CCP. No difference.
And the 100 million members of the CPC did not come from Mars to rule China. All of them are born bred and raised in China....with values totally aligned with the people
All CCP members love US dollar and Westerns although keep on promoting hate and fear to their citizens. At last Xi immediate family still follow the natures of CCP. No difference.
Communism and socialism original from Westerns rubbish got nothing to do with 5 thousands culture. Xi immediate family love Westerns so much. Lol.
India rejects BYD's US$1 billion factory proposal: Economic Times
NEW DELHI: India has rejected Chinese automaker BYD Co's proposal to set up a US$1 billion factory in India in partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic Times reported on Saturday.
Reuters reported this month that BYD had submitted a US$1 billion investment proposal to build electric cars and batteries in India in partnership with a local company.
Reuters could not independently verify the contents of The Economic Times' report.
India's Department of Commerce, Department for Promotion of Industry and Internal Trade (DPIIT) had sought opinions from other departments on the investment proposal, the report said.
"Security concerns with respect to Chinese investments in India were flagged during the deliberations," the report quoted an Indian official as saying. — REUTERS
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KEY POINTS -A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar -His remarks come ahead of a BRICS summit to be held in August in South Africa -Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.