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Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

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Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

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Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized

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Xinhua Commentaries: “Exposing the Three Major Political Deficits of the U.S.”

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China’s Former Central Banker Suggested Renminbi Globalization to Solve World Market Problem

On August 10, 2019, at a 40 person forum on China’s financial system, Zhou Xiaochuan, the former Chairman of China’s People’s Bank, stated that trade protectionism, the development of modern technology, and currency-based economic sanctions have caused significant twists in the global market system.

Zhou pointed out that the first global market twist came from trade conflicts between countries. A trade war can last a long time and cause obvious twists in the distribution of global resources.

The second one is due to the development of technology. Some IT companies pursue a “winner takes all” or “winner takes the biggest share” result. They therefore burn a tremendous amount of money to claim that market share and increase traffic. Zhou suggested fair competition as the solution.

The third one is that the U.S., due to its control of the U.S. dollar, uses currency as its means to impose economic sanctions. Zhou argued that the globalization of the Renminbi will solve this problem.

Source: Sina, August 11, 2019
https://finance.sina.com.cn/money/bank/yhpl/2019-08-11/doc-ihytcern0062585.shtml

 

Briefings | | |   Economy/Resources

Chinese Government’s Disinformation and anti-American Propaganda: On the First Day of School!

On September 2, the first day of the new school year, the Chinese official media again pushed the party’s ideological education in the form of the “First Class of the New Semester” program. A popular China Central Television host called on the students across the country to love and care for the Chinese national flag as much as they love life.

Radio Free Asia (RFA) reported that, on September 2, teachers in some schools taught the students that the United States has manufactured the Hong Kong “independence movement” so as to stop China’s rise.

Mr. Xie, a legal professional working in Beijing, told RFA that the Ministry of Education mandated ideological education sessions, from the kindergartens to the universities, on the first day of school. Even kindergarten children aged between three and six were asked to memorize and recite this stuff.

Another RFA interviewee said that the Ministry of Education issued an official document that required every school and every family to organize the students to watch (the program). Some schools even used the Hong Kong situation as the subject of the first class of the semester. Now the government characterizes the Hong Kong situation as a Hong Kong independence movement. School teachers do not know the truth about Hong Kong. They can only accept the order that the Ministry of Education issued.

Source: Radio Free Asia, September 2, 2019
https://www.rfa.org/cantonese/news/education-09022019093615.html

Briefings | | |   Government/Politics

JP Morgan to Include China in Its Benchmark Bond Index

Starting on February 28, 2020, Chinese government’s debt will start to be part of the Government Bond Index-Emerging Markets (GBI-EM), a benchmark emerging-markets index that JPMorgan Chase & Co. will manage. The process of inclusion will be completed over 10 months.

The total capital of GBI-EM, which tracks global emerging markets, is approximately $226 billion, among which some $202 billion will be tracked in the GBI-EM global diversified benchmark. The Chinese government bonds will be capped at 10 percent of the index.

Earlier in April, Bloomberg Barclays, another index provider, began adding Chinese bonds to its global benchmark.

Source: The Paper, September 4, 2019
https://www.thepaper.cn/newsDetail_forward_4335465

Briefings | | |   US-China Relations

Facing Risks and Challenges, Xi Emphasizes a “Fighting Spirit”

Recently, General Secretary of the Chinese Communist Party Xi Jinping delivered a speech at the Party School of the CCP Central Committee. The speech centered on the theme of “fighting” or “battling.” He said that the major battles during China’s development will be no less and no more complicated [than previous battles], and this includes Hong Kong, Macao and Taiwan issues.

An official from Xinhua News Agency reported that Xi’s speech was given on September 3rd at the Party School, at the opening ceremony of the training session for young and middle-aged CCP cadres. Xi said that cadres should “promote the fighting spirit and enhance fighting capabilities” and that “the great rejuvenation of the Chinese nation is not easy. It cannot be achieved by beating gongs and sounding drums. A great fight must be put up to achieve a great dream.”

Xi Jinping declared [the need] to fight against and defeat four major risks and challenges. They include “endangering the leadership of the CCP and the Chinese socialist system, endangering China’s core interests and major principles, endangering the fundamental interests of the Chinese people, and endangering China’s goal of ‘two hundred years’ and the great rejuvenation of the Chinese nation.”

Source: Central News Agency, September 3, 2019
https://www.cna.com.tw/news/acn/201909030318.aspx

Briefings | | |   Government/Politics

Mingpao: China Assessing the Level of High-Tech Dependency on the U.S.

Mingpao, one of the primary Hong Kong newspapers, recently reported that the Chinese government is assessing the dependency level that Chinese domestic high-tech vendors have on U.S. technologies. The goal is to evaluate the capabilities China has to sustain the trade war. It is also to be better prepared for a Chinese blacklist of U.S. companies. The China National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Commerce are jointly leading this effort. The process aims to minimize domestic damage while maximizing the strength of the attacks against the United States. Government officials have already contacted many Chinese companies, such as Xiaomi and Oppo, on their supply chain details. Some Chinese companies have already started moving away from U.S. suppliers. According to a June survey that the US-China Business Council conducted, most of the U.S. companies in China did not have the intent to withdraw from China completely.

Source: Mingpao, September 1, 2019
https://bit.ly/32hD7N6

Briefings | | |   Information/Technology US-China Relations

VOA Chinese: The Trade War May Impact the Pandas in the U.S.

Voice of America (VOA) Chinese Edition recently reported that the trade war between China and the United States is introducing not only the worry about the future of the world economy, but also the concern for the future of the pandas in the U.S. According to the rental agreements between a number of U.S. zoos and China, upon the expiration of the contracts, unless the contracts are renewed, the pandas have to be returned to China. The agreements also indicate that the U.S. born baby pandas are also property of China. The San Diego Zoo failed to obtain a renewal of their contract. Currently there are only three zoos left in the United States that still have pandas: The National Zoo in DC, the Atlanta Zoo, and the Memphis Zoo. In the past decades, the Chinese government has used pandas as a foreign relationship tool. Sometimes they are leased and sometimes they are given as gifts.

Source: VOA Chinese, August 30, 2019
https://www.voacantonese.com/a/people-worried-china-could-recall-giant-pandas-from-us-because-of-trade-war-20190830/5063011.html

Briefings | | |   US-China Relations

Foreign Ministry Spokesperson: U.S. Is Liable for Its Fentanyl Problem

At its regular press conference on August 26, 2019, China’s Foreign Ministry Spokesperson Geng Shuang blamed the U.S. for its fentanyl problem. From the supply and demand theory, Geng indicated that the fault is the result of the U.S. demand. He argued that implicitly it is not the result of China’s supplying such a drug.

The question asked was: “US President Trump tweeted on August 23 that he has ordered American delivery companies to search for fentanyl in all packages from China and block any deliveries that contain such substances. FedEx, UPS, and the U.S. Postal Service said they began taking measures to prevent drug traffickers from using their services following President Trump’s instruction. I wonder, what is China’s comment?”

Geng gave a lengthy answer, including the statement, “As laws of basic economics tell us, demand and supply come hand in hand. Supply dries up when there is no demand. In the U.S., people tend to abuse prescription painkillers. The American people, accounting for only five percent of the world population, consume as much as 80 percent of the world’s total opioids. The U.S. government can by all means intensify its efforts to reduce the demand for fentanyl.”

Source: China’s Foreign Ministry website, August 26, 2019
https://www.fmprc.gov.cn/mfa_eng/xwfw_665399/s2510_665401/t1692042.shtml

Briefings | | |   US-China Relations

Chinese Communist Party Strengthens Grassroots Propaganda Work

China’s official Xinhua News Agency reported that the Central Committee of the Chinese Communist Party (CCP) released the “Regulations on the Propaganda Work of the Chinese Communist Party.”

The spokesperson for The CCP’s Central Propaganda Department said that, considering the new situation, some tasks are urgent. They include codifying the “important thoughts of General Secretary Xi Jinping on propaganda and ideological work and also the experiences and practices of the CCP’s long-term propaganda work, especially the work since the 18th CCP Congress.”

The spokesperson mentioned that the grassroots propaganda work is relatively weak. The regulation made the grassroots propaganda work a separate chapter. It clearly stipulates the propaganda work in enterprises, rural areas, institutions, schools, research institutes, streets and communities, and social organizations. For example, township (street) party organizations should specify one party committee member to be responsible for propaganda; village (community) party organizations should employ dedicated propaganda staff; state-owned and state-controlled enterprise party organizations should set up a propaganda work office. The party committee of a university should set up a propaganda department. The party organizations in enterprises with state shares, non-state economic organizations, and social organizations shall employ propaganda staff.

Party committees at all levels have been told to take the study and promotion of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, aka Xi Jinping Thought, as their primary political task.

Source: Central News Agency, September 1, 2019
https://www.cna.com.tw/news/acn/201909010099.aspx

Briefings | | |   Government/Politics