When can we expect Iron ore on that list?
Chinese Economics Thread
- Thread starter Norfolk
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Thanks ansy, with regards to the 'hide your power, bide your time', do you know what follows soon after Deng said it? I meant his words/advice, not events. Also i forgot, when he said it, was he president or retired?
Perhaps once mines in Africa and South America can cope with demand or once China reduces its steel production.
Probably not anytime soon.
Unconfirmed report has that China's iron ore price has already shot up beyond control and gov is looking into it.
GlobalTimes put it in a bit naughty way, China extends full open gesture to imported coal except for Australia
Hi Litebreeze,
He hold one position Chairman of the central advisory commission, When Gorbachev launch its Perestroika and Glasnost, China realized she can't used the threat of SOVIET UNION as a tool for western support. It needs to focus on its domestic development and advocate a peaceful international order to implement that reform. In other words international non interference (hide your power) and focus on domestic reform (bide your time).
China’s Financial Markets Attempt Deleveraging
China is bucking the global trend of greater economic stimulus amid the coronavirus, preferring instead to refocus on controlling its record debt burden. Policy makers are allowing for tighter liquidity in the financial system, a signal that Beijing wants to stabilize the level of debt in the economy. An economic recovery and a strong currency are giving policy makers more room to focus on limiting -- or even reducing -- the amount of debt in the financial system. While develeraging has been a key priority for President Xi Jinping since 2016, previous attempts were interrupted by the trade war and the crippling economic impact of this year’s global health crisis.
China is bucking the global trend of greater economic stimulus amid the coronavirus, preferring instead to refocus on controlling its record debt burden. Policy makers are allowing for tighter liquidity in the financial system, a signal that Beijing wants to stabilize the level of debt in the economy. An economic recovery and a strong currency are giving policy makers more room to focus on limiting -- or even reducing -- the amount of debt in the financial system. While develeraging has been a key priority for President Xi Jinping since 2016, previous attempts were interrupted by the trade war and the crippling economic impact of this year’s global health crisis.
Hi Crang,
Wow!!!! China is doing a conservative and prudent fiscal policy (which will make any GOP politician proud), Deleveraging while your economy is doing well, having additional fiscal tools in case of another financial shock. That's the reason foreign fund manager are rushing in, pushing up the value of YUAN as a result , they see China as a safe heaven.
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actually, it seems that tight monetary and prudent fiscal policies has been Xi's default position. He last attempted to deleverage in 2017-18, made limited progress, but had to reverse course as a result of the trade war and virus. Now that China is in a stronger economic position in comparison with everyone else, Xi may feel tempted to turn up the heat again on big money in China.
This is probably one thing that he and Li Keqiang can find common ground in. Xi wants to squeeze big money because of their potential to subvert CCP rule, Li wants to squeeze big money because they take all the bank loans away from small businesses. I suspect some of the defaults by SOE's were by design, to assuage the idea that SOE's are safe haven for liquidities not due to market qualities because they are government-backed.