Wandering China

An East/West pulse of China's fourth rise from down under.

5% of foreign reserves – ‘Australia to buy Chinese government debt’ [Financial Times] #RisingChina #Australia #ForeignReserves

Australia broadens relations with its top export destination by investing 5% of foreign reserves in Chinese government bonds.

Earlier this month, Australia became only the third country to establish a direct currency trading link with China, after the US and Japan. The RBA and the People’s Bank of China also set up a currency swap facility in March 2012. The RBA had around A$38.2bn ($39bn) in foreign reserves at the end of March. Financial Times, April 24, 2013

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Australia to buy Chinese government debt
By Josh Noble in Hong Kong
Source – Financial Times, published April 24, 2013

Source - Haver Analytics

Source – Haver Analytics

The Australian central bank plans to invest about 5 per cent of its foreign reserves in Chinese government bonds, in the latest move to build closer economic ties between the two countries.

“This decision to invest in China is an important one. It reflects the broader economic relationship between China and Australia and our increasing financial ties”, Philip Lowe, deputy governor of the Reserve Bank of Australia, said in a speech on Wednesday in Shanghai. “It provides greater diversification of our investments and will help with our understanding of the Chinese financial markets.”

Earlier this month, Australia became only the third country to establish a direct currency trading link with China, after the US and Japan. The RBA and the People’s Bank of China also set up a currency swap facility in March 2012. The RBA had around A$38.2bn ($39bn) in foreign reserves at the end of March.

Please click here to read the rest of the article at its source.

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Filed under: Australia, Beijing Consensus, Charm Offensive, Chinese Model, Economics, Finance, Financial Times, Government & Policy, Influence, International Relations, Mapping Feelings, Peaceful Development, Public Diplomacy, Soft Power, Strategy, The Chinese Identity, The construction of Chinese and Non-Chinese identities, Trade

CrossTalk: China Power Engine Without Fuel? [Russia Today]

CrossTalk show at the APEC 2012 meeting from Russia Today : Running time 25.26minutes

Jim Rogers, William Powell from Time Magazine and David Pilling, Asia Editor from the Financial Times discuss the destiny of the Chinese economy.  For instance – Are we expecting too much for the Chinese economy when they loudly announced to the world they were slowing down?

Some key areas stood out:

1. Have we gotten too used to China as an engine of growth but it is not in the position to bail out the rest of the world. Though it has huge savings, its economy is only 1/10 of Europe, the US and Japan combined – has the world taken China for granted? Why can’t China have a recession?
2. Soft or Hard Landing? – depends on industry – basic services, consumer growth will continue to boom, though real estate stands to take a hard landing.
3. Signalling and shifting gears by looking inward – shift from investor-led growth with its side effects to a stronger focus on domestic demand.
4. Question of Western media lecturing China what to do + Bias of Financial media
5. Symbiosis rolling down the cliff (Interdependence becomes a crutch)
5. Cyclical slump with systemic implications because of the once-in-a-decade leadership transition
6. Questioning the veracity of government figures
7. Protectionism as a response
8. Nationalisation of the Yuan

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CrossTalk: China Power Engine Without Fuel?
with Peter Lavelle
Source – Russia Today on Youtube, September 12, 2012

Will over-investing lead to a bust? Could China shatter markets across the world? And if there is a hard landing, what will the consequences be? CrossTalking with Jim Rogers, William Powell and David Pilling from the Financial Times.

RT LIVE http://rt.com/on-air

Filed under: APEC, Beijing Consensus, Chinese Model, Domestic Growth, Economics, Environment, Finance, Financial Times, Government & Policy, Influence, japan, Media, Modernisation, Peaceful Development, Politics, Pollution, Population, Public Diplomacy, Reform, Social, Soft Power, Strategy, Tao Guang Yang Hui (韬光养晦), The Chinese Identity, The construction of Chinese and Non-Chinese identities, Trade, U.S., , , , , , , , ,

Foxconn looks to a robotic future [Financial Times]

Foxconn, the world’s biggest contract electronics manufacturer by revenue and site of an unfortunate spate of employee suicides, has at the moment 1 million workers with 10,000 robots. According to this report, it is something the company wishes to change to keep up with the times: along with the broader sweep toward automation with Chinese manufacturers. ‘The chief executive said the group would have up to 300,000 robots next year and 1m by 2013, highlighting the drastic changes China-based manufacturers are making as competition for labour increases.’ At the same time manufacturing seems to be pushing inland away from the coastal cities, with Foxconn planting its flag in Chengdu where ‘ government officials say Foxconn is expected to employ 100,000 workers by the end of the year and eventually reach a headcount of 300,000.’

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Foxconn looks to a robotic future
By Kathrin Hille in Beijing
Source – Financial Times, published August 1, 2011

Salaries for migrant workers, the mainstay of Foxconn’s workforce in China, grew 30-40 per cent last year, says Dong Tao, chief regional economist at Credit Suisse. Photo – FT

Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive.

Foxconn, China’s biggest employer, produce Apple’s iPad and other electronic gadgets. The group currently employs 1m workers but has just 10,000 robots on its production lines.

Mr Gou outlined the company’s ambitious automation plans at a Foxconn gathering late last week in Shenzhen, a coastal manufacturing centre in southern China. According to people who attended the function, the chief executive said the group would have up to 300,000 robots next year and 1m by 2013, highlighting the drastic changes China-based manufacturers are making as competition for labour increases. Read the rest of this entry »

Filed under: 52 Unacceptable Practices, Beijing Consensus, Chinese Model, Culture, Domestic Growth, Economics, Environment, Financial Times, Government & Policy, Human Rights, Infrastructure, Mapping Feelings, Migrant Workers, Migration (Internal), People, Resources, Social, Trade

Renren plans US listing this year [Financial Times]

China’s version of Facebook is getting its US listing. The Chinese internet landscape has been changing rapidly, and the voice of social media is getting stronger, and stronger. Savvier companies work hand in hand with the authorities to allow for their growth, whilst ‘Facebook and other western social media sites, including YouTube, are blocked in China.’

Chinese Social-Networking Site Renren Files to Raise $584 Million in IPO (Bloomberg, April 16, 2011)

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Renren plans US listing this year
By Kathrin Hille in Beijing
Source – Financial Times, published February 20 2011

Renren.com plans to list in the US this year in a deal that could make the Chinese company one of the world’s first social networking sites the public can invest in.

The company plans to raise about $500m in an offering managed by Deutsche BankMorgan Stanley and Credit Suisse, said people close to the situation.

China’s internet companies have mostly been followers, copying their larger and more mature US peers’ business models and adjusting them for their domestic market. But Renren’s planned listing could make it a leader in attracting investor funds. Read the rest of this entry »

Filed under: Beijing Consensus, Bloomberg, Charm Offensive, Communications, Culture, Domestic Growth, Economics, Education, Finance, Financial Times, Influence, International Relations, Internet, Media, Public Diplomacy, Social, Soft Power, Technology, The Chinese Identity, The construction of Chinese and Non-Chinese identities

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