Chinascope – Page 708

Xinhua: China’s Luxury Market Is Cooling Down

Xinhua recently reported that, in the year 2014, China’s market in luxury goods saw a one percent decline from 2013. The report was based on Bain & Company’s latest research results. The research showed that the market suffered mainly from the anti-corruption campaign, overseas spending, and the proliferation of counterfeit goods. However, in the meantime, Chinese consumers were responsible for around 30 percent of all luxury spending globally. Chinese buyers combined domestic and overseas spending increased by nine percent. This is the first time in eight years of Bain’s research history that the Chinese domestic market has declined. The decline was seen mainly in the sector of men’s products. The year 2014 also saw the highest number of luxury store closures. For example, Hugo Boss closed seven stores, Ferragamo closed six, Zegna closed six, and Burberry closed four stores.

Source: Xinhua, February 15, 2015

http://news.xinhuanet.com/fashion/2015-02/15/c_1114367560.htm

Briefings | | February 17, 2015 | Economy/Resources

BBC Chinese: China-Supplied Fighter Jets May Be a Threat to the Falkland Islands

BBC Chinese recently reported that, not long ago, China signed an agreement with Argentine President Cristina [Fernandez de Kirchner] to supply her nation with fighter jets that are considered capable of attacking the Falkland Islands (also known as the Malvinas Islands). According to the British Ministry of Defense, the China-made FC-1 fighters are a concern. The British army is planning to enhance the radar system deployed at the Falkland Islands. The islands are currently under British control, but Argentina also claims sovereignty. British analysts pointed out that Argentina has been suffering a major economic downturn and President Cristina has been trying to distract domestic public opinion by introducing new conflicts with Great Britain. China sold Argentina a frigate last year and promised to invest 162 billion pounds in Argentina over the next five years.

Source: BBC Chinese, February 15, 2015

http://www.bbc.co.uk/zhongwen/simp/press_review/2015/02/150215_press_china_argentina_fighters

Briefings | | February 17, 2015 | Geo-Strategic Trend

People’s Daily: U.S. Filed WTO Complaint against China’s Export Subsidies

People’s Daily recently reported that the United States just filed a WTO (World Trade Organization) case against China for subsidizing eight categories of export companies. These included textiles, clothing and shoes, metal materials, light industry and specialized chemical products, medicine, construction materials, and agricultural products. The Chinese government provided funding via the public service platform to companies located in 179 industrial parks. The U.S. filing claimed that the Chinese government provided $US one billion worth of subsidies in the period from 2010 to 2012. The public data released on the Chinese Ministry of Commerce official website supported some of the numbers. Before this new filing, there had been 24 WTO filings between the United States and China. The U.S. had initiated 15 of them. Some analysts pointed out that this latest conflict occurred at the very moment when President Obama was asking the U.S. Congress for the power to fast track international trade negotiations. However, the WTO investigation may discover that this type of “hidden subsidy” has been used widely by governments all over the world, including the U.S. government.

Source: People’s Daily, February 13, 2015

http://finance.people.com.cn/n/2015/0213/c1004-26560398.html

Briefings | | February 17, 2015 | US-China Relations

Beijing Experts Discussed How China Should Deal with U.S. Financial Dominance

On February 1 in Beijing, the Chongyang Financial Research Institute of Renmin University held a new book release conference and forum exploring the theme, "Financial Sanctions: the U.S.’s New Global Asymmetric Power."

The participants in the forum generally agreed that the U.S. financial hegemony is an exclusive weapon built on its comprehensive national strength. Using this weapon to provide sanctions against other countries is “a massively profitable business without any cost.” It is like "killing people without firing a shot." The difficult situation in Russia is a new example of the United States applying its financial hegemony. In modern society, financial sanctions have become the core of economic sanctions.

[The experts at the forum believed that] “Facing this situation, China, on the one hand, should not simply oppose the monetary system in which the United States is the center, as it is impossible to change the reality that the Federal Reserve is essentially the equivalent of the World Bank. Instead, China can actively get into the system and make it change the rules so the direction in which it moves is favorable to China. On the other hand, China should establish "infrastructure" in the financial sector and develop a cross-border payment transactions system capable of replacing the SWIFT code.

Source: China Review News, February 2, 2015

http://hk.crntt.com/doc/1036/0/2/8/103602851.html?coluid=151&kindid=11515&docid=103602851&mdate=0202110708

Briefings | | February 13, 2015 | US-China Relations

Qiushi: The Faculty Is the Key to Political Education in Universities

Qiushi published a commentary in support of tightening the ideological education of college students. The commentary expressed the belief that the faculty members are the key to providing an effective Marxist education in universities and colleges. The commentary stated that faculty members who engage in the following four types of behavior are not good college teachers.

The first was, “Openly attacking and defaming the Party’s leadership … discrediting socialism, and not having correct ideals and beliefs.” The second was “Complaining, venting grievances, sending out bad vibes to the students, and having no real skills.” Third was “Spreading Western values … praising the West, and having no sense of social responsibility.” Finally came, “Speaking against the Constitution and the law in the classroom and having no political bottom line, no legal bottom line, and no moral bottom line.”

Source: Qiushi, February 13, 2015

http://www.qstheory.cn/tjyd/2015-02/13/c_1114357291.htm

Briefings | | February 13, 2015 | Government/Politics

Huanqiu: Norway is Making Cold War Allegations

Huanqiu published a commentary on Norway’s expulsion of a Chinese student, asking whether Norway wants trade or human rights.

“A country at the far end of the Eurasian continent and close to the artic suddenly made “cold war style” noises against China. After Norway expelled a Chinese student using the pretext that he was a ‘national security threat,’ it listed Russia and China as ‘threats’ in its annual national security assessment report. The head of its national security department openly accused ‘China and Russia of engaging in espionage activities.’"

Cui Hongjian, Director of the European Department at the China Institute of International Studies, a State think tank, said, “The Norwegian government ought to think clearly. Do they want communications with China and the development of good economic and trade relations, or do they want to be shouting slogans about so-called ‘human rights and democracy.’" According to Huanqiu, the Chinese Embassy in Norway issued a statement stating that the Norwegian government’s remarks are irresponsible, “full of cold war rhetoric” and “without any basis.”

Source: Huanqiu, February 6, 2015 http://world.huanqiu.com/exclusive/2015-02/5610058.html

Briefings | | February 12, 2015 | Government/Politics

BBC Chinese: China Responded to Obama Welcoming Dalai Lama

BBC Chinese recently reported that President Obama welcomed the Dalai Lama at the National Prayer Breakfast and called him “a friend.” This was the first time the President and the Dalai Lama appeared jointly in public. Chinese Ministry of Foreign Affairs spokesperson Hong Lei responded at a press conference that China is against any country allowing the Dalai Lama to visit and is against anyone using the Tibetan Issue to interfere with China’s domestic matters. Hong said the Dalai Lama has long been using the name of religion to perform the function of splitting China. He urged the United States to “keep its promise” on the Tibetan Issue. The last time President Obama met with the Dalai Lama was on February 21, 2014, in the White House Map Room instead of the Oval Office. That meeting was a closed-door meeting with no media present.

Source: BBC Chinese, February 6, 2015

http://www.bbc.co.uk/zhongwen/simp/world/2015/02/150206_beijing_obama_dalai

Briefings | | February 11, 2015 | US-China Relations

China’s Reaction to Trump’s Election Win

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

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

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