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Media Report
December 11 , 2017
  • Financial Times：China volatility darkens 2018 investment outlook
    Financial Times reports: "From a potential economic slowdown to a clampdown on debt, analysts are pointing to clouds forming on China's horizon. In the past two-and-a-half weeks, China's equity market has fallen 5 per cent while yields on 10-year Chinese government bonds briefly jumped above the crucial 4 per cent threshold, in a sign of growing investor anxiety. This recent volatility has brought to the fore questions over the investment outlook for next year and whether economic headwinds could damp prospects for China. Accentuating China's sell-off is the contrasting fortunes of other global equity markets. Recent losses for the mainland's CSI 300 index and Hong Kong's Hang Seng contrast with the S&P 500 and Euro Stoxx 50 rising modestly. Some investors believe the drop in China's equity market is merely a reflection of investors taking profits after a stellar year, rather than anything more sinister. 'A lot of the sell-off is probably driven by sentiment, with people saying markets are up so much this year, let's take profit,' says Nicholas Chui, a fund manager at Aberdeen Standard. 'This is very China specific, hence we've seen divergence. At the same time, the tax bill passing through has boosted the US.' Both the CSI 300 and Hang Seng have enjoyed a stellar year and in terms of their year-to-date performance sit on gains of 31 per cent and 20 per cent respectively. Trading is typically thinner at the end of the year, leading some analysts to suggest investors are sitting on the sidelines rather than putting their cash to work."
  • The New York Times：Fearing the Worst, China Plans Refugee Camps on North Korean Border
    The New York Times reports: "A Chinese county along the border with North Korea is constructing refugee camps intended to house thousands of migrants fleeing a possible crisis on the Korean Peninsula, according to an internal document that appears to have been leaked from China's main state-owned telecommunications company. Three villages in Changbai County and two cities in the northeastern border province of Jilin, have been designated for the camps, according to the document from China Mobile. The document appeared last week on Weibo, a microblogging site. The camps are an unusual, albeit tacit, admission by China that instability in North Korea is increasingly likely, and that refugees could swarm across the Tumen River, a narrow ribbon of water that divides the two countries. For decades, Chinese policy on North Korea has centered on maintaining stability in a neighboring country known for its repression and volatility. Despite international sanctions and condemnation, the North in recent months has intensified a program to test nuclear weapons and missiles, increasing the potential for internal instability or the chance of an attack by the United States."
  • NPR：Worries Grow In Hong Kong As China Pushes Its Official Version Of History In Schools

    NPR comments: "The last time China pressured Hong Kong to scrap its curriculum in favor of one developed by China's Communist Party-led government, tens of thousands marched through the city chanting, 'Down with national education!' It was the summer of 2012, and the movement to stop Hong Kong's government from introducing China's national education into city schools launched the careers of activists like Joshua Wong... After protesters besieged government headquarters for 10 straight days, officials backed down. Now the government has returned with a scaled-back plan to change how history is taught in Hong Kong's secondary schools... The new proposed curriculum for city schools is missing key parts of modern Chinese history, like Hong Kong's 1967 pro-Communist riots against British rulers and the Tiananmen Square massacre of 1989... 'These are crucial parts of history being taken out,' says secondary school history teacher Cheung Siu-Chung. 'Teachers are asking what the rationale is behind this, and our own deputy secretary of education said these parts of history are trivial and aren't even worth mentioning.' The new proposed history curriculum for Hong Kong would go into effect in two years. It would require Hong Kong schools to spend more time teaching students about China's modern history — from the Communist revolution in 1949 through its transformation to an authoritarian, capitalist powerhouse today."

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