#Newspaper #ChinaEconomy
Xi warned officials that efforts to stop virus could hurt China's economy

Previously,
Guangdong province grants rights of angary to local governments to take private properties for use in epidemic
https://t.me/guardiansofhongkong/17058

With growth at its slowest in nearly three decades, China's leaders seem eager to strike a balance between protecting an already-slowing economy and stamping out an epidemic that has killed more than 1,000 people and infected more than 40,000.

Xi Jinping warned top officials last week that efforts to contain the new coronavirus had gone too far and urged party committees and governments of all levels to achieve the targets of economic and social development this year.

Excerpt: Reuters #Feb12
https://reut.rs/2OR3qFs

#Xi #PrivateProperties #CoronavirusOutbreak
#ChineseCommunistParty

#ChinaEconomy #Crisis
"It’s time for global businesses to admit it: China isn’t a good investment"

The Washington Post, Feb 14, 2020

//The coronavirus outbreak is... an economic as well as a humanitarian crisis.

...Companies have to wonder whether China is peculiarly at risk for these mysterious epidemics. The SARS virus exploded out of China in 2003, causing thousands of infections with a 10 percent mortality rate...But no other global power has had two mysterious, rapidly spreading viruses arise in this time period. Is it worth the risk that it could happen again?

Combined, these factors will increasingly make it cost-effective to bring manufacturing back to the developed world or countries in those nations’ sphere of influence.

None of this will happen overnight, but any rational company has to see the writing on the wall. Slow but steady disengagement with China will cost money in the short term but will likely pay off big in the long term.//

Image: Bloomberg

#FailedState #WuhanPneumonia #ChinaEconomy
Work Resumption Plan Cancelled in Hubei, Epidemic is Not Under Control in China

Just in one day the work resumption order issued for Qianjiang City, located in China's epicenter Hubei Pronvince, was withdrawn by the authorities.

The authorities did not directly explain the change of plan, but stressed that traffic restriction is still in effect. The order contrasts the saying that China has the Wuhan pneumonia epidemic under control.

Source: am730 #Mar11
#QianJiang #HuBei

ADB: China Can Probably Stand On Its Own

In a sign of China's rising strength, the Asian Development Bank announced it may stop lending to the world's second largest economy.

The Asian Development Bank, the Manila-headquartered multilateral lender, may end loans to China in a move being characterized as more about the maturity of China’s economy—now the world’s second-largest—than political posturing. In a recent interview, ADB President Masatsugu Asakawa said a reassessment of whether China still meets the development criteria for further loans could start as early as next year.

Some analysts say the move has a political dimension and is symbolic of the estrangement between China and the West as well as a tectonic shift in geopolitical alliances. In 2016 China created its own infrastructure bank—the Asian Infrastructure Investment Bank—but the US and Japan notably declined to join. At just under 7%, Russia is the third-largest contributor to the AIIB’s coffers, after China and India, according to the AIIB’s website.

Although the AIIB’s role in has been described as complementary to ADB’s, the fact that it is offering financial assistance to other countries calls into question China’s need for further aid. When development loans are monopolized by economic superpowers, it promotes economic imbalances that hold countries back, says David Baxter, a sustainable development consultant.

“It is important that aid loans go to countries that really need it,” he says. “China does not.”

source: Global Finance #Sep15

https://www.gfmag.com/magazine/september-2022/china-asia-development-bank-loans-end

#Sept1 #ChinaEconomy #BeltAndRoad