well i dont know exactly what made this village so successful, but there must be something unique that cant be replicated in provinces like Guizhou and Yunnan. so i would still look at provincial and national policies along with local competitiveness to ameliorate the situation.
US Financial Crisis/Bailout, China's Role
- Thread starter FugitiveVisions
- Start date
Rising China
Junior Member
:china::china::china:
US thanks China for recession aid
Last Modified: 21 Feb 2009
By: Faisal Islam
America thanks China for helping it through recession and says human rights concerns come second to economic survival.
America and China will work together to help lead the world recovery, says the secretary of state, Hillary Clinton.
On her first official visit she has downplayed her past criticism over human rights and expressed her appreciation of China's purchasing of American debt.
It is the first time a top American politician has recognised the long running reality of American financial dependence on China.
But as our economics correspondent Faisal Islam reports from Shanghai, the price the Chinese want for further support could cause other problems.
US thanks China for recession aid
Last Modified: 21 Feb 2009
By: Faisal Islam
America thanks China for helping it through recession and says human rights concerns come second to economic survival.
America and China will work together to help lead the world recovery, says the secretary of state, Hillary Clinton.
On her first official visit she has downplayed her past criticism over human rights and expressed her appreciation of China's purchasing of American debt.
It is the first time a top American politician has recognised the long running reality of American financial dependence on China.
But as our economics correspondent Faisal Islam reports from Shanghai, the price the Chinese want for further support could cause other problems.
Obama administration does not have to worry about the need for foreign investors on US Treasuries at the moment. The decline of the stock markets are causing a surge in Treasuries as investors are moving into safe havens. The next week's allotment of US Treasuries for 94 billion has already been sold.
Schumacher
Senior Member
Good to hear, the world depends so much now on Sino-US cooperation on life/death situation like climate change & the financial crisis that it's ridiculous to have this important relation, thus the world, hijacked by some 'activists'.
bladerunner
Banned Idiot
Exactly, I think I suggested something like this could happen quite a posts earlier when the subject came up on who was going to continue to finance American debt. I dont know whether it was You Crobato when someone poasted and article which showed a couple od decades earlier most of the Treasuries bonds etc were bought locally
Rising China
Junior Member
:china::china::china:
Clinton urges China to keep buying Treasury bonds
BEIJING – U.S. Secretary of State Hillary Rodham Clinton wants China to continue investing in the United States because the two countries' financial futures are closely tied together.
"I certainly do think that the Chinese government and central bank are making a smart decision by continuing to invest in Treasury bonds," she said during an interview Sunday with the popular talk show "One on One." "It's a safe investment. The United States has a well-deserved financial reputation."
To boost the economy, the U.S has to incur more debt, she said, shortly before departing for Washington. "It would not be in China's interest if we were unable to get our economy moving," Clinton said. "So by continuing to support American Treasury instruments, the Chinese are recognizing our interconnection. We are truly going to rise or fall together. We are in the same boat and, thankfully, we are rowing in the same direction.
"Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market, namely the United States, the United States has to take some very drastic measures with this stimulus package, which means we have to incur more debt."
With the export-heavy Chinese economy reeling from the U.S. downturn, Clinton has sought in meetings with President Hu Jintao, Foreign Minister Yang Jiechi and Premier Wen Jiabao to reassure Beijing that its massive holdings of U.S. Treasury notes and other government debt would remain a solid investment.
Yang responded that China wants to see its foreign exchange reserves — the world's largest at $1.95 trillion — invested safely and to continue working with the United States.
During her trip to Beijing, Clinton's emphasis on the global economy, climate change and security were meant to highlight the growing importance of U.S.-China relations, which have often frayed over disagreements on human rights. Authorities in Beijing face a year of sensitive anniversaries — 20 years since the crushing of the Tiananmen Square democracy movement and 50 years since the failed Tibetan uprising that forced the Dalai Lama into exile.
As she wrapped up her trip to China, Clinton met with women's rights advocates and attended church, a day after talks with Chinese officials.
Sunday's session at the U.S. Embassy in Beijing gathered female lawyers, academics, environmental activists, health care workers and entrepreneurs to highlight the growing leadership role of Chinese women.
On Saturday, Clinton and Yang said regular dialogue on economic issues would now include terrorism and other security issues. Details will be finalized by President Barack Obama and the Chinese president at an economic summit in London in April. "We have every reason to believe that the United States and China will recover and together we will help lead the world recovery," she told reporters at a news conference with Yang.
Ahead of her talks, Clinton said China's controversial human rights record would be largely off the table, a blunt admission that startled rights groups.
Activists complained Saturday that Chinese police were monitoring dissidents and had confined some to their homes during Clinton's two-day visit. Several of those targeted had signed "Charter 08," an unusually open call for civil rights and political reforms.
Along with cooperating on the financial crisis, the U.S. wants China to step up efforts to address threats from nuclear programs in Iran and North Korea, and the tenuous security situations in Afghanistan and Pakistan.
With China surpassing the U.S. last year as the world's leading producer of greenhouse gases, Clinton said she and Chinese officials had agreed to develop clean-energy technology that would use renewable sources and safely store the emissions from burning coal.
Visiting a new gas-fueled power plant in Beijing, Clinton urged China not to repeat the "same mistakes" that Western countries made when they developed.
Beijing was the last and perhaps most important stop on Clinton's itinerary, capping a week on the road in Japan, Indonesia, South Korea and China intended to demonstrate the Obama administration's commitment to Asia. In Japan and South Korea, concerns over North Korea's nuclear program dominated the agenda, particularly amid a rise in belligerent rhetoric from Pyongyang directed at Seoul. She reaffirmed U.S. alliances with both countries and signed an agreement in Tokyo on the realignment of American forces.
Clinton met some 350 servicemen and women during a refueling stop at the Yokota Air Force Base outside Tokyo on her return trip to Washington.
Clinton urges China to keep buying Treasury bonds
BEIJING – U.S. Secretary of State Hillary Rodham Clinton wants China to continue investing in the United States because the two countries' financial futures are closely tied together.
"I certainly do think that the Chinese government and central bank are making a smart decision by continuing to invest in Treasury bonds," she said during an interview Sunday with the popular talk show "One on One." "It's a safe investment. The United States has a well-deserved financial reputation."
To boost the economy, the U.S has to incur more debt, she said, shortly before departing for Washington. "It would not be in China's interest if we were unable to get our economy moving," Clinton said. "So by continuing to support American Treasury instruments, the Chinese are recognizing our interconnection. We are truly going to rise or fall together. We are in the same boat and, thankfully, we are rowing in the same direction.
"Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market, namely the United States, the United States has to take some very drastic measures with this stimulus package, which means we have to incur more debt."
With the export-heavy Chinese economy reeling from the U.S. downturn, Clinton has sought in meetings with President Hu Jintao, Foreign Minister Yang Jiechi and Premier Wen Jiabao to reassure Beijing that its massive holdings of U.S. Treasury notes and other government debt would remain a solid investment.
Yang responded that China wants to see its foreign exchange reserves — the world's largest at $1.95 trillion — invested safely and to continue working with the United States.
During her trip to Beijing, Clinton's emphasis on the global economy, climate change and security were meant to highlight the growing importance of U.S.-China relations, which have often frayed over disagreements on human rights. Authorities in Beijing face a year of sensitive anniversaries — 20 years since the crushing of the Tiananmen Square democracy movement and 50 years since the failed Tibetan uprising that forced the Dalai Lama into exile.
As she wrapped up her trip to China, Clinton met with women's rights advocates and attended church, a day after talks with Chinese officials.
Sunday's session at the U.S. Embassy in Beijing gathered female lawyers, academics, environmental activists, health care workers and entrepreneurs to highlight the growing leadership role of Chinese women.
On Saturday, Clinton and Yang said regular dialogue on economic issues would now include terrorism and other security issues. Details will be finalized by President Barack Obama and the Chinese president at an economic summit in London in April. "We have every reason to believe that the United States and China will recover and together we will help lead the world recovery," she told reporters at a news conference with Yang.
Ahead of her talks, Clinton said China's controversial human rights record would be largely off the table, a blunt admission that startled rights groups.
Activists complained Saturday that Chinese police were monitoring dissidents and had confined some to their homes during Clinton's two-day visit. Several of those targeted had signed "Charter 08," an unusually open call for civil rights and political reforms.
Along with cooperating on the financial crisis, the U.S. wants China to step up efforts to address threats from nuclear programs in Iran and North Korea, and the tenuous security situations in Afghanistan and Pakistan.
With China surpassing the U.S. last year as the world's leading producer of greenhouse gases, Clinton said she and Chinese officials had agreed to develop clean-energy technology that would use renewable sources and safely store the emissions from burning coal.
Visiting a new gas-fueled power plant in Beijing, Clinton urged China not to repeat the "same mistakes" that Western countries made when they developed.
Beijing was the last and perhaps most important stop on Clinton's itinerary, capping a week on the road in Japan, Indonesia, South Korea and China intended to demonstrate the Obama administration's commitment to Asia. In Japan and South Korea, concerns over North Korea's nuclear program dominated the agenda, particularly amid a rise in belligerent rhetoric from Pyongyang directed at Seoul. She reaffirmed U.S. alliances with both countries and signed an agreement in Tokyo on the realignment of American forces.
Clinton met some 350 servicemen and women during a refueling stop at the Yokota Air Force Base outside Tokyo on her return trip to Washington.
Rising China
Junior Member
:china::china::china:
Economy China warns US against reckless spending
03/13/2009 | 09:44 PM
BEIJING - China's premier didn't say it in so many words, but the implied warning to Washington was blunt: Don't devalue the dollar through reckless spending.
Premier Wen Jiabao's message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying US bonds. China already is Washington's biggest foreign creditor, with an estimated $1 trillion in US government debt. A weaker dollar would erode the value of those assets.
"Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference Friday after the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."
The appeal suggested the outlines of Chinese President Hu Jintao's stance when he meets with President Barack Obama at an April 2 summit in London of the Group of 20 major economies on possible remedies for the global crisis.
Wen gave no indication whether Beijing wants changes in US policy. But economists said his comments reflect fears that higher US budget deficits from Washington's $787 billion stimulus package could drive down the dollar and the value of China's Treasury notes.
"China is telling the US to be careful, not to overspend and keep an eye on the dollar," said Kelvin Lau, regional economist at Standard Chartered in Hong Kong. "There are risks that China cannot control, so they're depending on the US to maintain fiscal prudence and keep the dollar reasonably stable."
Analysts estimate China keeps nearly half of its $2 trillion in foreign currency reserves in US Treasuries and notes issued by other government-affiliated agencies.
"Inside China there has been a lot of debate about whether they should continue to buy Treasuries," said Frank Gong, chief China economist for JP Morgan.
Beijing is trying to increase its leverage at the London G-20 meeting by reminding its partners of its role in financing US spending, Gong said.
"Without China's buying (Treasuries) and continuing to fund US deficit spending, interest rates could have been much higher. That could be very destabilizing in this very recessionary environment," he said. "By attracting a lot of attention to this issue, China is already increasing its influence ahead of the G-20 meeting."
Finance officials from the G-20 meet this weekend. US Treasury Secretary Timothy Geithner is pressing for a new coordinated global stimulus. Japan is supportive but European governments are reluctant to make expensive commitments before they see how current plans are working.
Wen also offered an unqualified defense Friday of his government's policies in Tibet, ignoring questions about a massive security buildup in the Himalayan region.
Tensions have spiked ahead of two key anniversaries this week – the 50th anniversary of a failed Tibetan uprising that sent the Dalai Lama into exile and Saturday's one-year anniversary of violent anti-Chinese riots in Lhasa that sparked the largest protests in decades.
Asked whether the massive security presence pointed to failings in Beijing's policies, Wen said: "The situation in Tibet is on the whole peaceful and stable. The Tibetan people hope to work in peace and stability.
"Tibet's continuous progress (has) proven the policies we have adopted are right," he said.
Wen expressed confidence the world's third-largest economy can meet its official growth target of 8 percent this year and emerge from the crisis "at an early date." But he said Beijing is ready to expand its 4 trillion yuan ($586 billion) stimulus if needed.
"We already have our plans ready to tackle even more difficult times, and to do that we have reserved adequate ammunition," he said. "That means that at any time we can introduce new stimulus policies."
Communist leaders worry about rising job losses and possible unrest amid a trade slump that saw Chinese exports fall 25.7 percent in February from a year earlier. They have promised to spend heavily to create jobs and boost exports.
Chinese bank lending and power demand have risen, suggesting the stimulus is taking effect. But growth in retail sales is weakening, indicating it has yet to spur private sector spending and investment, which analysts say will be key to its success.
Private sector economists expect growth as low as 5 percent this year. That would be the strongest of any major country but could lead to more waves of job cuts.
"I really believe we will be able to walk out of the shadow of the financial crisis at an early date," Wen said. "After this trial, I believe the Chinese economy will show greater vitality."
Wen also said Beijing wants the G-20 summit in April focus on helping the poorest countries.
The premier said Beijing has met its own commitments to help developing countries by erasing a total of $40 billion in debt owed by 46 countries and giving out 200 billion yuan ($29 billion) of aid to developing countries."
"We must see to it that we show concern for developing countries," he said. - AP
Economy China warns US against reckless spending
03/13/2009 | 09:44 PM
BEIJING - China's premier didn't say it in so many words, but the implied warning to Washington was blunt: Don't devalue the dollar through reckless spending.
Premier Wen Jiabao's message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying US bonds. China already is Washington's biggest foreign creditor, with an estimated $1 trillion in US government debt. A weaker dollar would erode the value of those assets.
"Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference Friday after the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."
The appeal suggested the outlines of Chinese President Hu Jintao's stance when he meets with President Barack Obama at an April 2 summit in London of the Group of 20 major economies on possible remedies for the global crisis.
Wen gave no indication whether Beijing wants changes in US policy. But economists said his comments reflect fears that higher US budget deficits from Washington's $787 billion stimulus package could drive down the dollar and the value of China's Treasury notes.
"China is telling the US to be careful, not to overspend and keep an eye on the dollar," said Kelvin Lau, regional economist at Standard Chartered in Hong Kong. "There are risks that China cannot control, so they're depending on the US to maintain fiscal prudence and keep the dollar reasonably stable."
Analysts estimate China keeps nearly half of its $2 trillion in foreign currency reserves in US Treasuries and notes issued by other government-affiliated agencies.
"Inside China there has been a lot of debate about whether they should continue to buy Treasuries," said Frank Gong, chief China economist for JP Morgan.
Beijing is trying to increase its leverage at the London G-20 meeting by reminding its partners of its role in financing US spending, Gong said.
"Without China's buying (Treasuries) and continuing to fund US deficit spending, interest rates could have been much higher. That could be very destabilizing in this very recessionary environment," he said. "By attracting a lot of attention to this issue, China is already increasing its influence ahead of the G-20 meeting."
Finance officials from the G-20 meet this weekend. US Treasury Secretary Timothy Geithner is pressing for a new coordinated global stimulus. Japan is supportive but European governments are reluctant to make expensive commitments before they see how current plans are working.
Wen also offered an unqualified defense Friday of his government's policies in Tibet, ignoring questions about a massive security buildup in the Himalayan region.
Tensions have spiked ahead of two key anniversaries this week – the 50th anniversary of a failed Tibetan uprising that sent the Dalai Lama into exile and Saturday's one-year anniversary of violent anti-Chinese riots in Lhasa that sparked the largest protests in decades.
Asked whether the massive security presence pointed to failings in Beijing's policies, Wen said: "The situation in Tibet is on the whole peaceful and stable. The Tibetan people hope to work in peace and stability.
"Tibet's continuous progress (has) proven the policies we have adopted are right," he said.
Wen expressed confidence the world's third-largest economy can meet its official growth target of 8 percent this year and emerge from the crisis "at an early date." But he said Beijing is ready to expand its 4 trillion yuan ($586 billion) stimulus if needed.
"We already have our plans ready to tackle even more difficult times, and to do that we have reserved adequate ammunition," he said. "That means that at any time we can introduce new stimulus policies."
Communist leaders worry about rising job losses and possible unrest amid a trade slump that saw Chinese exports fall 25.7 percent in February from a year earlier. They have promised to spend heavily to create jobs and boost exports.
Chinese bank lending and power demand have risen, suggesting the stimulus is taking effect. But growth in retail sales is weakening, indicating it has yet to spur private sector spending and investment, which analysts say will be key to its success.
Private sector economists expect growth as low as 5 percent this year. That would be the strongest of any major country but could lead to more waves of job cuts.
"I really believe we will be able to walk out of the shadow of the financial crisis at an early date," Wen said. "After this trial, I believe the Chinese economy will show greater vitality."
Wen also said Beijing wants the G-20 summit in April focus on helping the poorest countries.
The premier said Beijing has met its own commitments to help developing countries by erasing a total of $40 billion in debt owed by 46 countries and giving out 200 billion yuan ($29 billion) of aid to developing countries."
"We must see to it that we show concern for developing countries," he said. - AP
Rising China
Junior Member
:china::china::china:
Obama soothes China on multi-billion-dollar US debt
Agence France-Presse
Washington, March 15, 2009
First Published: 09:13 IST(15/3/2009)
Last Updated: 09:16 IST(15/3/2009)
President Barack Obama said on Saturday that China could have "absolute confidence" in the American economy, after Beijing pointedly questioned the safety of its huge haul of US government debt.
Obama took up comments by China's Premier Wen Jiabao on Friday, which represented a rare assessment by Beijing on the health of the US economy and the prospects for China's hundreds of billions of dollars in Treasury bonds.
"Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States," Obama said after meeting Brazilian President Luiz Inacio Lula da Silva at the White House.
"There is a reason why even in the midst of this economic crisis you have seen actual increases in investment flows in Washington in the US."
"I think it is a recognition that the stability not only of our economic system but also our political system is extraordinary."
Obama said that his comments were applicable to both US Treasury instruments and investments in the US private and industrial sectors.
Wen told reporters in Beijing on Friday that he was concerned about China's huge stake in the US economy as it endures the worst crisis in generations.
"We have lent huge amounts of money to the United States. Of course we are concerned about the safety of our assets," Wen said.
"To be honest, I am a little bit worried and I would like to... call on the United States to honor its word and remain a credible nation and ensure the safety of Chinese assets."
Wen's comments caused a stir in global markets, and were the latest disturbance to the critical US-Chinese relationship early in Obama's administration.
Last week, military tensions rose after the United States said Chinese boats harassed the US Navy surveillance vessel Impeccable in the South China Sea, forcing the ship to take emergency action to avoid a collision.
Beijing said the vessel was on a spying mission.
China also balked at US comments on the human rights situation in Tibet - but both sides tried to smooth over the row with Foreign Minister Yang Jiechi's visit to the White House on Thursday.
Beijing held 727.4 billion dollars in US Treasury bonds at the end of last year, just ahead of Japan, the holder of 626 billion dollars in bonds, according to US government data.
As the largest creditor to the United States, China is "extremely interested in developments in the US economy," Wen said.
Analysts say a loss of confidence in US Treasury securities could cause a dramatic drop in the dollar and force Washington to pay higher interest rates.
In February, Secretary of State Hillary Clinton asked China to keep on buying US debt, saying it could help jumpstart the flagging US economy and stimulate imports of Chinese goods.
"By continuing to support American Treasury instruments the Chinese are recognizing our interconnection. We are truly going to rise or fall together," Clinton said.
Most of China's foreign exchange reserves, which reached 1.95 trillion dollars by the end of 2008, is believed to be held in the greenback.
White House spokesman Robert Gibbs said Friday that "there's no safer investment in the world than in the United States."
Obama rolled out an audacious 3.55-trillion-dollar budget proposal last month that bristles with economic reforms and spending on healthcare, climate change and education.
The budget forecasts a 1.750 trillion dollar deficit in fiscal 2009, but foresees that figure falling to 1.171 trillion dollars in 2010.
The Chinese reportedly are concerned about the enormous amount of borrowed money, including Obama's nearly 800-billion-dollar stimulus, being used to boost US growth.
Concerns are flaring in China that the stimulus plan could hurt dollar-denominated assets, with some observers urging China to cut US Treasury holdings, the official Xinhua news agency said last month.
Domestic critics have charged that, as a developing country, China should be investing at home instead of subsidizing the world's richest country, or else diversifying into other foreign assets.
Obama soothes China on multi-billion-dollar US debt
Agence France-Presse
Washington, March 15, 2009
First Published: 09:13 IST(15/3/2009)
Last Updated: 09:16 IST(15/3/2009)
President Barack Obama said on Saturday that China could have "absolute confidence" in the American economy, after Beijing pointedly questioned the safety of its huge haul of US government debt.
Obama took up comments by China's Premier Wen Jiabao on Friday, which represented a rare assessment by Beijing on the health of the US economy and the prospects for China's hundreds of billions of dollars in Treasury bonds.
"Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States," Obama said after meeting Brazilian President Luiz Inacio Lula da Silva at the White House.
"There is a reason why even in the midst of this economic crisis you have seen actual increases in investment flows in Washington in the US."
"I think it is a recognition that the stability not only of our economic system but also our political system is extraordinary."
Obama said that his comments were applicable to both US Treasury instruments and investments in the US private and industrial sectors.
Wen told reporters in Beijing on Friday that he was concerned about China's huge stake in the US economy as it endures the worst crisis in generations.
"We have lent huge amounts of money to the United States. Of course we are concerned about the safety of our assets," Wen said.
"To be honest, I am a little bit worried and I would like to... call on the United States to honor its word and remain a credible nation and ensure the safety of Chinese assets."
Wen's comments caused a stir in global markets, and were the latest disturbance to the critical US-Chinese relationship early in Obama's administration.
Last week, military tensions rose after the United States said Chinese boats harassed the US Navy surveillance vessel Impeccable in the South China Sea, forcing the ship to take emergency action to avoid a collision.
Beijing said the vessel was on a spying mission.
China also balked at US comments on the human rights situation in Tibet - but both sides tried to smooth over the row with Foreign Minister Yang Jiechi's visit to the White House on Thursday.
Beijing held 727.4 billion dollars in US Treasury bonds at the end of last year, just ahead of Japan, the holder of 626 billion dollars in bonds, according to US government data.
As the largest creditor to the United States, China is "extremely interested in developments in the US economy," Wen said.
Analysts say a loss of confidence in US Treasury securities could cause a dramatic drop in the dollar and force Washington to pay higher interest rates.
In February, Secretary of State Hillary Clinton asked China to keep on buying US debt, saying it could help jumpstart the flagging US economy and stimulate imports of Chinese goods.
"By continuing to support American Treasury instruments the Chinese are recognizing our interconnection. We are truly going to rise or fall together," Clinton said.
Most of China's foreign exchange reserves, which reached 1.95 trillion dollars by the end of 2008, is believed to be held in the greenback.
White House spokesman Robert Gibbs said Friday that "there's no safer investment in the world than in the United States."
Obama rolled out an audacious 3.55-trillion-dollar budget proposal last month that bristles with economic reforms and spending on healthcare, climate change and education.
The budget forecasts a 1.750 trillion dollar deficit in fiscal 2009, but foresees that figure falling to 1.171 trillion dollars in 2010.
The Chinese reportedly are concerned about the enormous amount of borrowed money, including Obama's nearly 800-billion-dollar stimulus, being used to boost US growth.
Concerns are flaring in China that the stimulus plan could hurt dollar-denominated assets, with some observers urging China to cut US Treasury holdings, the official Xinhua news agency said last month.
Domestic critics have charged that, as a developing country, China should be investing at home instead of subsidizing the world's richest country, or else diversifying into other foreign assets.
bladerunner
Banned Idiot
It seems that China its proving harder than it thought to maintain growth at reasonable levels.
……………New research by published by Standard Chartered Bank this week painted a gloomy picture of China's economic outlook for this year.
"Even as the government invests a huge amount of money to counter weakening private consumption and collapsing external demand, the negatives are still overpowering," the bank's analysts said in a research note that warned against expectations of a Chinese recovery this year.
While focusing on helping itself at home, China is also offering to help boost the world economy by encouraging a raft of new Chinese investment overseas, including £1bn of extra investment in its China-Africa Development Fund.
However Professor Yu said that the outside world must learn to be less fearful of Chinese investments which in the past have attracted anti-Chinese nationalist sentiments overseas.
……………New research by published by Standard Chartered Bank this week painted a gloomy picture of China's economic outlook for this year.
"Even as the government invests a huge amount of money to counter weakening private consumption and collapsing external demand, the negatives are still overpowering," the bank's analysts said in a research note that warned against expectations of a Chinese recovery this year.
While focusing on helping itself at home, China is also offering to help boost the world economy by encouraging a raft of new Chinese investment overseas, including £1bn of extra investment in its China-Africa Development Fund.
However Professor Yu said that the outside world must learn to be less fearful of Chinese investments which in the past have attracted anti-Chinese nationalist sentiments overseas.