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Media Report
March 04 , 2019
  • The Washington Post reports that China's government has trimmed this year's economic growth target to a relatively robust 6 to 6.5 percent amid a tariff battle with Washington and a slowdown in global growth. The growth target announced Tuesday at the opening of the ceremonial national legislature is down slightly from 2018's three-decade low growth of 6.6 percent. But it would be among the world's strongest expansions if achieved. The announcement comes amid a tariff battle with Washington and slowing global demand for Chinese exports. The finance ministry also said the country's defense budget this year will rise 7.5 percent. Chinese authorities are expected to use the congress to highlight measures intended to support economic growth. Legislators also are due to endorse a change in rules on technology in response to U.S. and European pressure.

  • Reuters reports, "The lawyers for Huawei Chief Financial Officer Meng Wanzhou are suing the Canadian government, its border agency and federal police, alleging their client was detained, searched and interrogated for three hours in violation of her constitutional rights. Canada arrested Meng in Vancouver on Dec. 1 at the request of the United States, which has brought sweeping charges against her and China's Huawei Technologies Co that portray the company as a threat to U.S. national security. Meng was charged with bank and wire fraud to violate American sanctions against Iran. In a civil lawsuit filed in the British Columbia Supreme Court on Friday, Meng's lawyers said the manner in which officers obtained evidence and information from Meng constituted serious violations of the Canadian Charter of Rights and Freedoms. Meng is the daughter of Huawei's founder."
  • The Wall Street Journal reports, "President Xi Jinping, battling a persistent downturn in China's economy, is trying to gird his rule by demanding absolute loyalty from the Communist Party in an effort to stifle simmering dissent. In recent weeks, Mr. Xi has put members of the ruling party on notice. He summoned senior officials from across China to warn them about 'major risks' to the world's No. 2 economy, reminding them to shoulder responsibility for solving problems. His administration issued a slew of new party directives demanding 'unity and concerted action.' Last week, state media publicized that the rest of the party leadership submitted self-evaluations for Mr. Xi's review, in a recently revived ritual designed to portray him as the ultimate authority. While Mr. Xi remains undisputedly in charge, party watchers say his maneuvers point to disquiet within the government and political elite."
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