antiterror13
Brigadier
US$130B is roughly 75% the size of Vietnamese economy
Chinese Economics Thread
- Thread starter Norfolk
- Start date
US$130B is roughly 75% the size of Vietnamese economy
It's just more fashionable to knock on Chinese products nowadays. Once more high-end Chinese product brands (like the DJI's Phantom 4 drones, for instance), become popular in the West, the situation will improve.
AFP•July 7, 2016
Shanghai (AFP) - Chinese appliance giant Midea has secured majority control in German industrial robotics supplier Kuka, it said Thursday, with a multi-billion-euro offer that stoked controversy in Europe.
Midea -- best known for selling washing machines and air conditioners -- offered 115 euros (then $130) per share for Kuka, one of the world’s leading manufacturers of industrial robots, in June.
It valued Kuka at 4.6 billion euros and was a near 60 percent premium to Kuka's closing price before Midea announced it was increasing its stake in the German firm in February.
As of Wednesday, the offer had been accepted by holders of 43.74 percent of Kuka’s shares, the Chinese company said in a statement on the Shenzhen stock exchange, where it is listed.
Adding the shares it already owns, it said it had "approximately 57.25% of the issued share capital and the existing voting rights of Kuka".
Beijing has pushed Chinese companies to "go out" and invest in foreign targets to increase their technological capabilities and seek new markets as economic growth slows at home.
But the Kuka deal has raised concerns in Europe about the transfer of high-end technology to China, with European media reporting officials in Brussels and Berlin oppose a Chinese takeover of the firm -- allegations denied by Berlin.
The powerful IG Metall trade union has also sought to find different buyers for Kuka shares, pushing for a 25.1 percent stake previously owned by technology company Voith to remain in German hands -- but no competing buyer came forward.
Voith sold Midea its shares for 1.2 billion euros last week.
On Thursday, Midea closed up 0.25 percent to 24.44 yuan in Shenzhen before the announcement.
Gordon Chang and the other doomsayers will be disappointed.
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Thu, Jul 7, 2016, 11:53AM EDT
BEIJING, July 7 (Reuters) - China' foreign exchange reserves in June unexpectedly rose $20 billion to $3.21 trillion, central bank data showed on Thursday, rebounding from a 5-year low in May.
Foreign exchanges reserves stood at $3.21 trillion at the end of June, the People's Bank of China reported on its website. Economists polled by Reuters had predicted reserves would fall by $20 billion to $3.17 trillion.
China's reserves, the largest in the world, fell by $27.9 billion to $3.19 trillion in May, their lowest since December 2011.
China's yuan currency has fallen to 5-1/2 year lows, reviving worries about its cooling economy and a possible resurgence in capital outflows.
(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)
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Thu, Jul 7, 2016, 11:53AM EDT
BEIJING, July 7 (Reuters) - China' foreign exchange reserves in June unexpectedly rose $20 billion to $3.21 trillion, central bank data showed on Thursday, rebounding from a 5-year low in May.
Foreign exchanges reserves stood at $3.21 trillion at the end of June, the People's Bank of China reported on its website. Economists polled by Reuters had predicted reserves would fall by $20 billion to $3.17 trillion.
China's reserves, the largest in the world, fell by $27.9 billion to $3.19 trillion in May, their lowest since December 2011.
China's yuan currency has fallen to 5-1/2 year lows, reviving worries about its cooling economy and a possible resurgence in capital outflows.
(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)
Pretty sure Gordon Chang is used to being wrong at this point.
AssassinsMace
Lieutenant General
Gordon Chang doesn't need to be right. He only exists as the token Asian to confirm what Westerners want to believe. What he writes is click-bait popular beliefs and that's what sells.
Equation
Lieutenant General
Gordon Chang and the rest of the China nay sayers are usually Christian feeling threaten by the rise of Chinese Communism would hinder their Biblical oppressing empire.
They don't care about facts or history, they're just throwing anything out there at the wall and hope that it would stick.My Dutch radio station reported on an investigation in the success of take overs by Chinese and Western companies by three universities, two in the Netherlands and one in England. It concerns some 15 000 take overs in the period 2000 - 2008. They say that Chinese companies are more careful in selecting take over candidates, pay a lower premium over the stock exchange value and are more effective in governing the companies.
I remember that when Chinese companies started buying foreign companies around 2000 the expectation was that they would make many mistakes and be less successful because of their lack of experience.
I remember that when Chinese companies started buying foreign companies around 2000 the expectation was that they would make many mistakes and be less successful because of their lack of experience.