Chindia Alert: You’ll be Living in their World Very Soon
aims to alert you to the threats and opportunities that China and India present. China and India require serious attention; case of ‘hidden dragon and crouching tiger’.
Without this attention, governments, businesses and, indeed, individuals may find themselves at a great disadvantage sooner rather than later.
The POSTs (front webpages) are mainly 'cuttings' from reliable sources, updated continuously.
The PAGEs (see Tabs, above) attempt to make the information more meaningful by putting some structure to the information we have researched and assembled since 2006.
US President Donald Trump has described the coronavirus pandemic as the “worst attack” ever on the United States, pointing the finger at China.
Mr Trump said the outbreak had hit the US harder than the Japanese bombing of Pearl Harbor in World War Two, or the 9/11 attacks two decades ago.
His administration is weighing punitive actions against China over its early handling of the global emergency.
Beijing says the US wants to distract from its own response to the pandemic.
Since emerging in the Chinese city of Wuhan in December, the coronavirus is confirmed to have infected 1.2 million Americans, killing more than 73,000.
Speaking to reporters in the Oval Office of the White House on Wednesday, Mr Trump said: “We went through the worst attack we’ve ever had on our country, this is worst attack we’ve ever had.
“This is worse than Pearl Harbor, this is worse than the World Trade Center. There’s never been an attack like this.
“And it should have never happened. Could’ve been stopped at the source. Could’ve been stopped in China. It should’ve been stopped right at the source. And it wasn’t.”
Media caption Life for asylum seekers in lockdown on the US-Mexico border
Asked later by a reporter if he saw the pandemic as an actual act of war, Mr Trump indicated the outbreak was America’s foe, rather than China.
“I view the invisible enemy [coronavirus] as a war,” he said. “I don’t like how it got here, because it could have been stopped, but no, I view the invisible enemy like a war.”
Media caption US shopping centres re-open: ‘This is the best day ever’
Who else in Trump’s team is criticising China?
The deepening rift between Washington and Beijing was further underscored on Wednesday as Secretary of State Mike Pompeo renewed his rhetoric against China, accusing it of covering up the outbreak.
He stuck by his so far unsubstantiated charge that there is “enormous evidence” the coronavirus hatched in a Chinese laboratory, even while acknowledging there is still uncertainty about its origins.
“Those statements are both true,” America’s top diplomat told the BBC. “We don’t have certainty and there is significant evidence that it came from a lab.”
One of the most trusted US public health experts has said the best evidence indicates the virus was not made in a lab.
Dr Anthony Fauci, a member of Mr Trump’s coronavirus task force, said on Monday the illness appeared to have “evolved in nature and then jumped species”.
Why is the US blaming China?
President Trump faces a tough re-election campaign in November, but the once humming US economy – which had been his main selling point – is currently in a coronavirus-induced coma.
As Mr Trump found his management of the crisis under scrutiny, he began labelling the outbreak “the China virus”, but dropped that term last month days before speaking by phone with Chinese President Xi Jinping.
Both Mr Trump and his likely Democratic challenger, Joe Biden, appear to be fastening on to China’s unpopularity as an election issue, with each accusing the other of being a patsy for America’s primary economic competitor.
As the coronavirus began spreading in the US back in January, Mr Trump signed phase one of a trade deal with China that called a truce in their tariff war. The US president’s hopes of sealing a more comprehensive phase two deal are now in limbo because of the pandemic.
BEIJING (Reuters) – Tang Yue, a 27-year-old teacher from the city of Guilin in southwest China, steam-presses a blue dress and takes dozens of photographs before picking one to clinch her 200th online sale.
For a growing number of Chinese like Tang, hit by job losses, furloughs and salary cuts, the consumer economy has begun to spin in reverse. They are no longer buying – they are selling.
Instead of emerging from the coronavirus epidemic and returning to the shopping habits that helped drive the world’s second-largest economy, many young people are offloading possessions and embracing a new-found ethic for hard times: less is more.
With Tang’s monthly salary of about 7,000 yuan ($988), the self-described shopaholic said she has bought everything from Chanel lipsticks to Apple’s (AAPL.O) latest iPad in the past three years.
But the adrenaline rush that comes with binge-shopping is gone, said Tang, whose wages have been slashed with the suspension of all the classes on tourism management she usually teaches.
“The coronavirus outbreak was a wake-up call,” she said. “When I saw the collapse of so many industries, I realised I had no financial buffer should something unfortunate happen to me.”
There is no guarantee that the nascent minimalist trend will continue once the coronavirus crisis is fully over, but if it does, it could seriously damage China’s consumer sector and hurt thousands of businesses from big retailers to street-corner restaurants, gyms and beauty salons.
To be sure, there are signs that pent-up demand will drive a rush of spending as authorities reopen malls, leisure venues and tourist spots. In South Korea, the first major economy outside of China to be hit by the virus, people thronged malls this weekend to go “revenge shopping” to make up for time lost in lockdown.,
There are some signs that a similar trend will take hold in China, where some upscale malls are starting to get busy, although luxury firm Kering SA (PRTP.PA) – which owns Gucci, Balenciaga and other fashion brands – has said it is hard to predict how or when sales in China might come back.
A recent McKinsey & Co survey showed that between 20% and 30% of respondents in China said they would continue to be cautious, either consuming slightly less or, in a few cases, a lot less.
“The lockdown provided consumers with a lot of time and reasons to reflect and consider what is important to them,” said Mark Tanner, managing director at Shanghai-based research and marketing consultancy China Skinny.
“With much more of their days spent in their homes, consumers also have more time and reasons to sort through things they don’t feel they need – so they’re not living around clutter that is common in many apartments.”
#DITCHYOURSTUFF
Tang made a spreadsheet to keep track of her nearly 200 cosmetic products and hundreds of pieces of clothing. She then marked a few essentials in red that she wanted to keep. In the past two months, she has sold items worth nearly 5,000 yuan on second-hand marketplaces online.
Bargain-hunting online has become a new habit for some Chinese as the stigma that once hung over second-hand goods has begun to fade.
Idle Fish, China’s biggest online site for used goods, hit a record daily transaction volume in March, its parent company Alibaba (BABA.N) told Reuters.
Government researchers predict that transactions for used goods in China may top 1 trillion yuan ($141 billion) this year.
Posts with the hashtag #ditchyourstuff have trended on Chinese social media in recent weeks, garnering more than 140 million views.
Jiang Zhuoyue, 31, who works as an accountant at a traditional Chinese medicine company in Beijing – one of the few industries that may benefit from the health crisis – has also decided to turn to a simpler life.
“I used to shop too much and could be easily lured by discounts,” said Jiang. “One time Sephora offered 20% off for all goods, I then bought a lot of cosmetics because I feel I’m losing money if I don’t.”
Jiang, the mother of a 9-month-old baby, said she recently sold nearly 50 pieces of used clothing as the lockdown gave her the opportunity to clear things out. “It also offered me a chance to rethink what’s essential to me, and the importance of doing financial planning,” she said.
Eleven Li, a 23-year-old flight attendant, said she used to spend her money on all manner of celebrity-endorsed facial masks, snacks, concert tickets and social media activity, but now has no way to fund her spending.
“I just found a new job late last year, then COVID-19 came along, and I haven’t been able to fly once since I joined, and I’ve gotten no salary at all,” said Li, who said she was trying to sell her Kindle.
Some are even selling their pets, as they consider leaving big cities like Beijing and Shanghai where the high cost of living is finally catching up with them.
NO RETURN TO OLD WAYS?
As the coronavirus comes under control in China, the government is gradually releasing cities from lockdown, easing transport restrictions and encouraging consumers to venture back into malls and restaurants by giving out billions-worth of cash vouchers, worth between 10 yuan and 100 yuan.
But many people say they are still worried about job security and potential wage cuts because of the struggling economy. Nationwide retail sales have plunged every month so far this year.
Xu Chi, a Shanghai-based senior strategic analyst with Zhongtai Securities, said some Chinese consumers may prove the ‘21 Day Habit Theory,’ a popular scientific proposition that it only takes that long to establish new habits.
“We believe people’s spending patterns follow the well-known theory, which means most people in China, having been cooped-up at home for more than a month and not having binge-shopped, may break the habit and not return to their old ways,” Xu said.
Jiang said she was determined not to return to her free-spending ways and planned to cook more at home.
“I’ll turn to cheaper goods for some luxury brands,” she said. “I’ll choose Huawei’s smartphone, because (Apple’s) iPhone has too much brand premium.”
Tang, who has recently used 100 yuan of shopping coupons to stock up on food, is going to hold the purse strings even tighter.
“I’ve set my monthly budget at 1,000 yuan,” she said. “Including one – and just one – bottle of bubble tea.”
BEIJING (Reuters) – China announced on Wednesday that its parliament will open a key annual session on May 22, signalling that Beijing sees the country returning to normal after being reduced to a near-standstill for months by the COVID-19 epidemic.
During the gathering of the National People’s Congress in the capital, delegates will ratify major legislation, and the government will unveil economic targets, set defence spending projections and make personnel changes. The ruling Communist Party also typically announces signature policy initiatives.
The session was initially scheduled to start on March 5 but was postponed due to COVID-19, which has infected nearly 83,000 people and killed more than 4,600 on the mainland after emerging late last year in the central city of Wuhan.
As the epidemic has subsided, economic and social life gradually returned to normal, making it possible for the congress to convene, the official Xinhua news agency quoted the standing committee of the NPC, the legislature’s top decision-making body, as saying.
The committee also appointed Huang Runqiu as the new minister for ecology and environment, a post vacated when predecessor Li Ganjie became deputy Communist Party chief for Shandong province earlier this month, Xinhua reported.
Tang Yijun was also named as the new justice minister to replace Fu Zhenghua, who has reached the retirement age of 65 for ministers.
The Chinese People’s Political Consultative Conference (CPPCC), an advisory body to parliament, has proposed starting its annual session a day before the parliamentary session opens.
Analysts expect China to roll out additional fiscal stimulus in order to cushion the blow from COVID-19, which has developed in to a worldwide pandemic that some fear will trigger a severe global recession.
China’s economy contracted for the first time on record during the January-March period, when the government imposed severe travel and transport restriction to curb the spread of the epidemic.
Parliament is also expected to discuss the anti-government protests in Hong Kong, amid growing speculation that Beijing take steps to strengthen its grip on the city.
It is unclear how long parliament and its advisory body will meet for this time, and people familiar with the matter have told Reuters that this year’s annual sessions could be the shortest in decades due to COVID-19 concerns. Usually more than 5,000 delegates descend on Beijing from all over China for at least 10 days.
Beijing city plans to ease quarantine rules as early as Thursday, two sources familiar with the situation told Reuters, ahead of the key political meetings.
People arriving in the capital from other parts of China will no long have to be quarantined for two weeks unless they come from high-risk areas such as Heilongjiang in the north and some parts of Guangdong in the southeast, the sources said.
URUMQI, Dec. 8 (Xinhua) — Rich in resources but remote, Xinjiang in China’s far west has become a magnet for investors for its unique position on the Silk Road.
In a workshop of the Amer International Group in Urumqi, capital of Xinjiang Uygur Autonomous Region, workers are busy adjusting and packing laptops.
Recently, Amer sent the first batch of 2,000 laptops it produced for the German company TrekStor to the European market via China-Europe freight trains.
Headquartered in the southern Chinese city of Shenzhen, Amer invested 20 billion yuan (around 2.8 billion U.S. dollars) to build an industrial park in Xinjiang in 2018. So far, the industrial park has produced and exported around 1.5 million mobile phones, according to Wang Wenyin, the founder and chairman of Amer International Group.
“We saw Xinjiang’s geographical advantages, so we established the industrial park and cooperated with our counterparts in South and Central Asia in the fields of smartphones and IT high-end manufacturing,” Wang said.
Amer International Group is among a growing number of enterprises that have been attracted by Xinjiang in recent years, as trains and planes have made Xinjiang better connected than ever before.
As China’s key trade gateway to Central and West Asia, the remote region’s position as the heart of the Belt and Road Initiative is unmistakable. In 2013, China proposed the BRI, which opened up new space for the world economy, spurring trade and economic growth and stimulating investment and creating jobs worldwide.
Urumqi Customs saw the number of China-Europe freight trains skyrocket to 5,743 in the first 10 months this year, up 53.68 percent year on year, outnumbering the total of 2018.
To attract more investors, the local government has gone to great lengths creating a more friendly business environment, such as cutting the time required for starting a business and lowering the entry threshold for products.
Up to now, Xinjiang has had more than 1.8 million market entities including 359,000 enterprises, up 18 percent year on year.
Foreign and domestic business giants including German chemical giant BASF and China’s real estate conglomerates Wanda Group have also invested in the region.
Lai Naixiang, head of Kashgar Oumeisheng Energy Technology, a home appliance manufacturer, moved his business from Shenzhen to Kashgar in southern Xinjiang in 2017.
“We chose to settle in Kashgar because of the great market potential in adjacent Central Asian countries as well as Xinjiang’s lower electricity prices and preferential tax policy,” he said.
Last year, the company exported electric kettles worth more than 16 million yuan to Kyrgyzstan and Tajikistan.
Foreign trade in Xinjiang has seen booming growth. The region recorded around 131.5 billion yuan in imports and exports in the first 10 months of this year, up 28 percent year on year.
In the first 10 months, Kazakhstan topped the list of Xinjiang’s major trade partners, with trade volume between the two growing by 28.2 percent to 60.2 billion yuan.
Xinjiang’s trade with Kyrgyzstan, Australia, Pakistan, Britain, Argentina and Vietnam also showed fast growth, according to the local customs authorities.
“With further Belt and Road construction, Xinjiang will get more impetus in economic and social development. I see great potential in the region,” Wang said.
CHINDIA ALERT: You'll be living in their world, very soon 