Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘china’

EU Plans to Pitch Trade Bargain to Trump

Posted by hkarner - 20. April 2018

Date: 19-04-2018
Source: The Wall Street Journal

Deal would feature lower tariffs on U.S. cars, access to government bidding for Europe, and joint action on China

European officials want a permanent exemption from new U.S. tariffs on steel and aluminum imports.

The European Union is drawing up a peace offer it hopes will end trade hostilities with the White House and avoid steel and aluminum tariffs being imposed on the bloc in two weeks’ time, according to European officials.

Its centerpiece: A miniature, simplified version of the Transatlantic Trade and Investment Partnership—the controversial EU-U.S. trade agreement that was negotiated but never concluded under the Obama administration.

To complete the offer, the EU is considering joining forces with the U.S. in tackling what both see as China’s unfair trade practices, the officials said. Den Rest des Beitrags lesen »

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Don’t Rule Out an EU-U.S. Trade War

Posted by hkarner - 20. April 2018

Date: 19-04-2018
Source: The Wall Street Journal By Simon Nixon

Europe is demanding the Trump administration permanently exempt it from tariffs. A flashpoint in the dispute comes May 1

The European Union shares U.S concerns about Chinese trade practices but may soon find itself in a trade war of its own with Washington.

So far, the European Union has managed to stay out of the escalating trade tensions between the U.S. and China. Along with other U.S. allies, it negotiated for itself a temporary exemption from the tariffs on imported steel that President Donald Trump announced last month, citing national security concerns. Since then, the U.S. has introduced a further $50 billion of tariffs on an extensive list of Chinese imports in retaliation for what it claims is theft of intellectual property and has threatened a further $100 billion. The EU shares many of the U.S.’s concerns about Chinese trade practices and would like to work with the U.S. to put pressure on China to agree to a reform of global trading rules that would address Chinese overcapacity problems. Yet there is a real risk that the EU and U.S. may soon find themselves embroiled in a trade war of their own. Den Rest des Beitrags lesen »

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China’s New Revolution: The Reign of Xi Jinping

Posted by hkarner - 19. April 2018

Date: 18-04-2018
Source: Foreign Affairs

Standing onstage in the auditorium of Beijing’s Great Hall of the People, against a backdrop of a stylized hammer and sickle, Xi Jinping sounded a triumphant note. It was October 2017, and the Chinese leader was addressing the 19th Party Congress, the latest of the gatherings of Chinese Communist Party elites held every five years. In his three-and-a-half-hour speech, Xi, who was appointed the CCP’s general secretary in 2012, declared his first term a “truly remarkable five years in the course of the development of the party and the country,” a time in which China had “stood up, grown rich, and become strong.” He acknowledged that the party and the country still confronted challenges, such as official corruption, inequality in living standards, and what he called “erroneous viewpoints.” But overall, he insisted, China was headed in the right direction—so much so, in fact, that he recommended that other countries draw on “Chinese wisdom” and follow “a Chinese approach to solving the problems facing mankind.” Not since Mao Zedong had a Chinese leader so directly suggested that others should emulate his country’s model.

Xi’s confidence is not without grounds. In the past five years, the Chinese leadership has made notable progress on a number of its priorities. Its much-heralded anticorruption campaign has accelerated, with the number of officials disciplined for graft increasing from some 150,000 in 2012 to more than 400,000 in 2016. Air quality in many of China’s famously smoggy cities has improved measurably. In the South China Sea, Beijing has successfully advanced its sovereignty claims by militarizing existing islands and creating new ones outright, and it has steadily eroded the autonomy of Hong Kong through a series of political and legal maneuvers. Across Asia, it has enhanced its influence through the Belt and Road Initiative, a massive regional infrastructure plan. All the while, the Chinese economy has continued to expand, and in 2017, GDP grew by 6.9 percent, the first time the growth rate had gone up in seven years. Den Rest des Beitrags lesen »

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EU-Förderprojekt in Kroatien: Strabag klagt gegen Dumping aus China

Posted by hkarner - 17. April 2018

Ein chinesisches Konsortium erhält den Zuschlag für den Bau der geostrategisch wichtigen Peljesac-Brücke in Kroatien. Die Strabag zieht vor Kroatiens Verwaltungsgericht – und schaltet die EU-Kommission ein.

Das Offert der Strabag lag mit 352, 4 Millionen Euro um mehr als 70 Millionen Euro über dem der chinesischen Firma.

Profitiert Österreich von dem wachsenden chinesischen Engagement in Südosteuropa – auch im Hinblick auf Chinas gigantisches Infrastrukturprojekt „Neue Seidenstraße“? So wollte es Wirtschaftskammer Präsident Christoph Leitl noch während des österreichischen Staatsbesuchs in China verstanden wissen. Österreich sei für die Volksrepublik wegen seiner Vernetzung nach Südosteuropa interessant.

Doch was der Vormarsch chinesischer Betriebe in der Region tatsächlich bedeutet, veranschaulicht ein Brückenbauprojekt in Kroatien: Der österreichische Konzern Strabag verlor das Wettrennen gegen ein chinesisches Konsortium unter Leitung des staatlichen Bauunternehmens China Road and Bridge Corporation. Der österreichische Bauriese geht nun rechtlich gegen die kroatische Entscheidung vor – und schaltet die EU-Kommission ein.  Den Rest des Beitrags lesen »

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Root and branch: Economists understand little about the causes of growth

Posted by hkarner - 14. April 2018

Date: 12-04-2018
Source: The Economist: Free exchange

The first in a series of columns on the profession’s shortcomings

OVER the past decade economists have been intensely scrutinised for their intellectual failings in the run-up to the 2007-08 financial crisis. Yet had the recession that followed been more severe—wiping a quarter off the GDP of every advanced economy, say—those countries would still have ended up four times as rich per person, in purchasing-power terms, as developing countries are now, and more than ten times as rich as sub-Saharan ones. Robert Lucas, a Nobel prizewinning economist, once wrote that after you have started to think about the gap between poor and rich countries it is hard to think about anything else. Economists understand even less about economic growth than about business cycles. But the profession has done too little to address this failure or to understand its implications.

Economists have precious few hard facts about growth. They know that sustained growth in GDP per person only started in the 18th century. They know that countries can become rich only by growing steadily over long periods. They know that in some fundamental way growth is about using new technologies to become more productive and to uncover new ideas. Beyond that, almost everything is contested. Den Rest des Beitrags lesen »

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Xis starkes Blatt gegenüber Trump

Posted by hkarner - 12. April 2018

Bill Emmott is a former editor-in-chief of The Economist.

LONDON – Die Welt wird in Kürze Zeuge eines historischen Kräftemessens zwischen China und den USA werden, zwei Supermächten, deren Staatsoberhäupter sich selbst als unangefochtene Führer betrachten. Im unmittelbaren Sinne wird dies ein Kampf über den Handel sein. Zugleich jedoch geht es um die strategische Führung Ostasiens und, letztlich, der internationalen Ordnung. Und beim gegenwärtigen Stand der Dinge steht China stärker da als vielen bewusst ist. Die Frage ist, ob der chinesische Präsident Xi Jinping selbstbewusst oder dreist genug ist, dies unter Beweis stellen zu wollen.

China wird dieses Kräftemessen kaum gewollt haben; zugleich jedoch ist es keine große Überraschung. US-Präsident Donald Trumps jüngst angekündigte Einfuhrzölle auf Stahl, Aluminium und andere in China hergestellte Waren stehen im Einklang mit der von ihm propagierten Form des Wirtschaftsnationalismus. Und seine Entscheidung, Nordkoreas Einladung zu bilateralen Verhandlungen über dessen Nuklearprogramm anzunehmen, spiegelt dieselbe Art von „Na, komm doch“-Einstellung wieder, mit der er den früheren Kriegsdrohungen des Landes begegnet ist. Den Rest des Beitrags lesen »

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The Global Trade Game

Posted by hkarner - 9. April 2018

Mohamed A. El-Erian, Chief Economic Adviser at Allianz, the corporate parent of PIMCO where he served as CEO and co-Chief Investment Officer, was Chairman of US President Barack Obama’s Global Development Council. He previously served as CEO of the Harvard Management Company and Deputy Director at the International Monetary Fund. He was named one of Foreign Policy’s Top 100 Global Thinkers in 2009, 2010, 2011, and 2012. He is the author, most recently, of The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse.

History is less likely than game theory to provide useful insights into where the latest trade dispute between the US and China may be heading. The question, ultimately, is whether new tariffs will eventually lead to a more cooperative game, or to a competitive one in which everyone loses.

CAMBRIDGE – The trade confrontation between the United States and China is heating up. After firing an opening salvo of steep tariffs on steel and aluminum, the US administration has released a plan for a 25% tariff on 1,333 Chinese imports – worth about $50 billion last year – to punish China for what it views as decades of intellectual property theft. China has fired back with a plan to slap 25% levies on a range of US goods, also worth about $50 billion. In response to what he labels “unfair retaliation,” US President Donald Trump is now said to be considering yet another set of tariffs, covering another $100 billion worth of imports from China. Economists and market analysts are scrambling to figure out what will come next. Den Rest des Beitrags lesen »

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Gute Freundschaft mit China belebt das Geschäft

Posted by hkarner - 8. April 2018

Andreas Schnauder aus Peking, 8. April 2018, 19:18 derstandard.at

Österreichische Firmen räumen in China groß ab, Menschenrechte bleiben eher ausgespart. Ein heikles Manöver gelang offenbar bei der Seidenstraße

Österreichs politische Spitzenrepräsentanten haben beim offiziellen Staatsbesuch in China viel erreicht. So stehen die Chancen gut, dass der Schönbrunner Zoo wieder ein Pandamännchen erhalten wird. Präsident Xi Jinping habe zugesichert, das Anliegen Wiens „sehr wohlwollend prüfen zu werden“, erklärte sein Pendant Alexander van der Bellen nach dem Treffen im Volkskongress. Dort hatte der Bundespräsident eine hochrangige Delegation mit Kanzler Sebastian Kurz, vier Ministern und zahlreichen Vertretern aus Wirtschaft, Wissenschaft und Kultur angeführt, um neben Xi Ministerpräsident Li Keqiang und weitere Regierungsvertreter Chinas zu besuchen.

Viele Freundlichkeiten

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Punishing America First

Posted by hkarner - 8. April 2018

Date: 07-04-2018
Source: The Wall Street Journal

Trump to Iowa: You’ll have to suffer while I force Xi Jinping to give in.

Donald Trump and his advisers spent much of Friday telling everyone that the U.S. is not in a trade war with China, but investors weren’t buying it. Equity markets took a major header, falling by more than 2% across the board. Maybe investors are starting to look at the damage Mr. Trump may do to the Farm Belt states and to the GOP’s chances of holding Congress.

Mr. Trump raised the stakes late Thursday in his tariff showdown with Beijing, vowing to impose another $100 billion in tariffs on Chinese goods in light of its “unfair retaliation” after his initial $50 billion in tariffs. The latest target list still hasn’t been drawn up, and the silver-lining crowd is hoping that Mr. Trump was merely popping off as part of his negotiating strategy. Maybe that’s right. But then China popped off in return, saying it is ready to “forcefully” strike back if the new tariffs are imposed.

That’s the problem with protectionism. The other side can strike back, and businesses and markets don’t know when the politicians will decide to stop pounding their chests. Den Rest des Beitrags lesen »

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The US doesn’t need AI, they have Trump

Posted by hkarner - 6. April 2018

Date: 06-04-2018
Source: Technology Review
Subject: Here’s how the US needs to prepare for the age of artificial intelligence

Government indifference toward AI could let the US lose ground to rival countries. But what would a good AI plan actually look like?

Politicians worldwide are stealing one of the US government’s best ideas by drawing up ambitious plans to make the most of advances in artificial intelligence.

These AI manifestos, penned in Paris, Beijing, and elsewhere, follow the example of the Obama administration, which released a report on the technology toward the end of its tenure. This report did not include funding, but it made it clear that AI should be a key focus of government strategy.

The Trump administration has abandoned this vision and has no intention of devising its own AI plan, say those working there. They say there is no need for an AI moonshot, and that minimizing government interference is the best way to make sure the technology flourishes.

That looks like a huge mistake. If it essentially ignores such a technological transformation, the US might never make the most of an opportunity to reboot its economy and kick-start both wage growth and job creation. Failure to plan could also cause the birthplace of AI to lose ground to international rivals. Den Rest des Beitrags lesen »

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