#Newspaper

Sotheby’s relocates April Hong Kong auctions to New York due to coronavirus

//The global auction calendar continues to be buffeted by pestilence and geopolitics as Sotheby’s announced today it is relocating its Modern and contemporary art sales in Hong Kong in April to New York due to the coronavirus.

//Kevin Ching, the chief executive of Sotheby’s in Asia, says in a statement the decision was taken after “careful consideration and reflection on nearly 50 years of working with our clients in Asia”.

//The majority of auctions that had been due to take place during New York’s Asia Week in March have now been postponed until June.

//Sotheby’s European chairman and worldwide head of Impressionist and Modern art says ,"The goal now is to create a jam-packed week in London following Art Basel and ending in time for US clients to return home for 4th July. Live auctions will also be supplemented by online-only sales. "//


Full Article: The Art Newspaper, (24-Feb)
https://bit.ly/2To0kM5

#Coronavirus #Ecomony #Sotheby #Art

#Analysis

One day, Hong Kong will be kicked out from the West for sure

I used to say that - China is fully committed to strengthen her economy to the point where the entire world must also suffer losses when she collapses. Assume today there is an economic recession , or even an economic disaster in China; how big of an impact will this have on the global economy? This is a topic that will be considered by many who are interested in political ecosystem, and it is also one of the reasons why the other countries are not in sync with the US as Trump wages an all-out trade war.

'You can bear the consequences and reap the benefits, but the consequences may be too heavy for me."

But as long as the US manages to persuade the majority of countries to overcome the above two points and impose sanctions of the same intensity, China will suffer a massive setback. Whether China will open up or self isolate herself is hard to predict.

For Hongkongers, there is little room of 'self-preservation' regardless of the situation. In the worst-case-scenario, internally the Hong Kong Government will side with the CCP for its survivability through constantly evacuating Hong Kong citizens’ assets and transferring Hong Kong reserves, may even be made to act as the 'white gloves' of China. On the other hand, China will assimilate, banished, and oppressed the people of Hong Kong.

Internationally, due to Hong Kong being considered as 'part of China', she will lose her independent economy and her special status among other countries, and possibly even be sanctioned under this consideration. When the western world deprives Hong Kong of its economic status and special treatment, the foundation of which 'Hong Kong' was built on will be lost.

The reason Hong Kong is what it is today is built on the recognition from the West, but not the protection and blessing of our great motherland. When Hong Kong loses that recognition, we will be of no value to them.

We must prepare ourselves for this inevitable day: the dark days only gets darker. For Hong Kong to turn the tables, a group of people must insist on the sole identity of 'Hongkonger', relinquishing all connections to Greater China. However...

What should we do when even Hongkongers corrupt and let this identity perish? That is another problem.

Source: Polymerhk, (03-10-2018)
http://polymerhk.com/articles/2018/10/03/41373/

#HongKong #Ecomony #CCP #TradeWar

#Analysis

One day, Hong Kong will be kicked out from the West for sure

I used to say that - China is fully committed to strengthen her economy to the point where the entire world must also suffer losses when she collapses. Assume today there is an economic recession , or even an economic disaster in China; how big of an impact will this have on the global economy? This is a topic that will be considered by many who are interested in political ecosystem, and it is also one of the reasons why the other countries are not in sync with the US as Trump wages an all-out trade war.

'You can bear the consequences and reap the benefits, but the consequences may be too heavy for me."

But as long as the US manages to persuade the majority of countries to overcome the above two points and impose sanctions of the same intensity, China will suffer a massive setback. Whether China will open up or self isolate herself is hard to predict.

For Hongkongers, there is little room of 'self-preservation' regardless of the situation. In the worst-case-scenario, internally the Hong Kong Government will side with the CCP for its survivability through constantly evacuating Hong Kong citizens’ assets and transferring Hong Kong reserves, may even be made to act as the 'white gloves' of China. On the other hand, China will assimilate, banished, and oppressed the people of Hong Kong.

Internationally, due to Hong Kong being considered as 'part of China', she will lose her independent economy and her special status among other countries, and possibly even be sanctioned under this consideration. When the western world deprives Hong Kong of its economic status and special treatment, the foundation of which 'Hong Kong' was built on will be lost.

The reason Hong Kong is what it is today is built on the recognition from the West, but not the protection and blessing of our great motherland. When Hong Kong loses that recognition, we will be of no value to them.

We must prepare ourselves for this inevitable day: the dark days only gets darker. For Hong Kong to turn the tables, a group of people must insist on the sole identity of 'Hongkonger', relinquishing all connections to Greater China. However...

What should we do when even Hongkongers corrupt and let this identity perish? That is another problem.

Source: Polymerhk, (03-10-2018)
http://polymerhk.com/articles/2018/10/03/41373/

Further reading:
U.S. Allows Google Internet Project to Advance Only if Hong Kong Is Cut Out
https://t.me/guardiansofhongkong/19409

#HongKong #Ecomony #CCP #TradeWar

#Newspaper

China’s Second-Quarter Rebound Already Losing Steam, Data Show

//China had historic contraction in first quarter due to virus

//While March data showed a pickup from the slump in the first two months of the year, the earliest indicators for this month show domestic demand as still very weak and companies remaining cautious

//The global shutdown has caused clients and orders to disappear, according to a survey of sales managers by World Economics

//The central bank and government have stepped up support for financial markets in the past month...but the stock market has lost momentum

//Recovery from depends on domestic and global demand rebounding

Full Article: Bloomberg News (25-Apr)

#coronavirus #globalshutdown #recessioninchina #firstquarter #ecomony

#Newspaper
China's street-stall debate puts CCP Leader Xi Jiping and Premier Li Kexiang at odds

//PRC Premier Li Kexiang stressed the job creation capacity of street stalls during a news conference at the close of the National People's Congress, China's parliament. The term "street-stall economy" has become a buzz phrase

One private estimate says the country's jobless rate could be 20% if migrant workers who lost jobs in urban areas and returned to their hometowns are included.

Days later, China's latest buzz phrase was hit with an unexpected headwind. The Beijing Daily, the official newspaper of the Chinese Communist Party's Beijing Municipal Committee, on Saturday published a commentary saying that street stalls are "unhygienic and uncivilized," and not suitable for the capital.

The following day, state-run China Central Television followed up with a commentary to the same effect.

Over the past several years, President Xi Jinping's regime has cracked down on stalls as part of efforts to maintain security and strengthen governance. Li's public endorsement of the street vendors is seen as a policy reversal.

The conflicting messages have left cities in confusion. But almost immediately, local authorities reversed the decision.

Close aides of Xi hold key positions in the two organizations that openly criticized Li, namely the Beijing municipal government and the Publicity Department of the party's Central Committee, which oversees media outlets.

The more popular Li and his policies become, the more political danger they pose to Xi, as the wave could lead to a backlash against the president's iron-fisted rule.

This is why Xi's camp has been quick to counterattack Li's populism.

Tensions have been rising between Xi and Li because China is about to enter perhaps its most crucial political season in a decade.//

Source: Nikkei Asian Review #Jun11 #Xi #Ecomony #streetstall
#LiKexiang #CCP

#NetizensVoice

In 2018, Xi Jinping already mentioned to replace Hong Kong with Hainan Island

(01 Jun)What’s wrong with Hainan’s Economy?
30 November 2018 at 10:45
President Xi Jinping visited Hainan Island at the beginning of the year and announced a series of measures to stimulate its economy, which included establishing the country’s largest free-trade zone in order to attract international investment.

Such an announcement triggered a lot of excitement. Apart from the zone, the Hainan Government also proposed a plan that would allow foreigners to enjoy uncensored internet access upon entering Hainan Province, but the suggestion later ceased to proceed.

Scholars involved in Hainan’s reformation plan told the press that Hainan Province will try the most advanced systems and practises in the world, including learning from Hong Kong and Dubai. In the future it will become China’s delegate and play an important role in boosting the world’s confidence.

Some people are expecting Hainan to become “Bali+Hong Kong” in the near future and are hoping that Hainan will later overtake Hong Kong.

Half a year has passed, has Hainan’s economy managed to make any progress? Statistics can explain everything.

The Bureau of Statistics of Hainan Province has just released Hainan’s economic data of October and it has shocked a lot of people.

The saleable area of houses sold from January to October in 2018 dropped 36% whereas sales revenue fell by 20% in comparison to the same period last year.

Another major source of economic growth, investment in fixed assets, ask dropped an astonishing 14.7%.

Transportation of freight also experienced an economic downturn with a decrease of 2.2%.

In October alone, Hainan Government’s fiscal revenue also showed a rare downward trend: the overall public budget revenue fell by 4.2% compared with the same period last year while the pre-expenditure fell by 3.1%.

As for the major consumer goods, vehicle production experienced a steep drop of 71.2%.

Many are concerned because if the trend persists, Hainan will soon replace the three provinces in Northeast of China and become the province with the slowest economic growth.

What exactly is wrong with Hainan’s economy?

Source: LIHKG
https://lih.kg/2046914

#Hainan #Xi #Hainan #FreeTradeZone #BluePrint #FinancialHub #Ecomony #ChinaPropaganda