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Media Report
March 07 , 2019
  • Financial Times reports, "China's economy is around 12 per cent smaller than official figures indicate, and its real growth has been overstated by around 2 percentage points annually in recent years, according to new research. The findings in the paper published on Thursday by the Brookings Institution, a Washington think-tank, reinforced longstanding scepticism about Chinese official statistics. They also add to concerns that China's slowdown is more severe than the government has acknowledged. Even based on official data, China's economy grew at its slowest pace since 1990 last year at 6.6 per cent. The paper's analysis covers 2008 to 2016, so it does not contain an estimate for last year's growth in gross domestic product or the size of the Chinese economy. But if 2018 GDP were overstated by the same degree as the authors estimated for 2016, it would imply that actual 2018 GDP was Rmb10.8tn ($1.6tn) below the official figure of Rmb90tn."

  • NPR reports, "Chinese telecom manufacturer Huawei is suing the U.S. government, arguing that Congress violated the Constitution when it banned government agencies from purchasing Huawei equipment. In the 2019 National Defense Authorization Act, Congress prohibited U.S. government agencies from contracting with Huawei or companies that use Huawei equipment. The U.S. government has alleged that Huawei is closely allied with the Chinese government and that its equipment could be used to spy on Americans. Huawei has denied the allegation and said it's a privately owned company with no interest in spying. In a lawsuit filed Wednesday in a federal court in Texas, Huawei argued that when Congress called it out by name, that violated the Constitution's Bill of Attainder clause, which prohibits Congress from singling out a company or individual for punishment without a trial."
  • The Washington Post reports, "Taiwan has submitted an official request to purchase new fighter jets from the United States to 'counter current enemy threats,' the island's deputy defense minister said Thursday. The request comes as Chinese leader Xi Jinping has used increasingly strident rhetoric toward Taiwan, a self-governed island which split from the mainland during a civil war in 1949. China claims Taiwan as part of its territory and maintains that the two sides must ultimately be reunified. Xi warned in a January address that he would not rule out the use of force against Taiwanese independence activities. The island's democratically elected, independence-leaning leader, Tsai Ing-wen, has opposed threats to self-rule. Taiwanese Deputy Defense Minister Shen Yi-ming, who announced the fighter jet purchase request at a news conference, said the goal is to provide pilots with more sophisticated equipment, in part to 'demonstrate our determination and ability to defend ourselves.'"
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