True to form, US President Donald Trump has upheld his election promise to withdraw the US from the Trans-Pacific Partnership (TPP), a regional trade deal between 12 Asia-Pacific countries that, if implemented, would be the largest and most ambitious trade deal to date. However, with US withdrawal the deal is unlikely to survive, at least in its current form, providing an opportunity for the second-largest economy of the region, China, to capitalise on this opening to its advantage. But firstly, what is (or more likely was) the TPP, and why was it so significant? Concluded between 12 states in...Read More
Category: Global Collaboration
Feb 9, 2017 | Global Collaboration |
Since their ascension into the U.N and acceptance into the World Bank and World Trade organization, China has striven to take a greater role in the international community. One such mechanism for which the Chinese are undertaking to achieve this endeavor is the Asian Infrastructure Investment Bank (AIIB), an international financing institution which differs from the World Bank and International Monetary Fund (IMF) due to its sole focus is on infrastructure. As of its official founding on January 16th 2016, the 57 contributing member countries to the AIIB have raised over 100 billion dollars of authorized capital between them,...Read More
Nov 17, 2016 | Global Collaboration |
Chinese state-owned companies are “buying up foreign businesses at a record rate this year.” This has alarmed the U.S.-China Economic and Security Review Commission, which was set up by Congress to help monitor U.S.-China relations. It has accused Beijing of “using its huge state-owned enterprises (SOEs) as tools to advance national security goals.” Treating this as a national security issue, the Commission is urging the country to be more vigilant of these Chinese takeovers happening on domestic soil. The Commission recommends Congress to review the Committee on Foreign Investment in the United States (CFIUS) to essentially bar Chinese SOEs...Read More
Nov 16, 2016 | Global Collaboration |
Chinese President Xi Jinping embarked on a series of state visits to Peru, Chile, and Ecuador on Wednesday, November 16th. China, which is Peru and Chile’s largest trading partner and Ecuador’s third largest, will sign multiple agreements with these nations to boost cooperation in trade, investment, finance and nuclear power. According to Vice-Foreign Minister Wang Chao, in Ecuador, Xi will talk with President Rafael Correa, meet reporters, attend launch ceremonies for Chinese-assisted projects and witness the signing of agreements. This visit will be the first by a Chinese president to Ecuador since diplomatic ties were established 36 years ago....Read More
Nov 8, 2016 | Global Collaboration |
In an announcement that surprised few, China’s Dalian Wanda Group acquired Dick Clark Productions Inc. for $1 billion on November 4th, the company that runs the Golden Globe Awards and the “Miss America” pageant. The Wanda Group is a Chinese multinational conglomerate that includes Wanda Commercial Properties, “the world’s largest real estate enterprise,” among many other subsidiaries. Its founder and chairman, Wang Jianlin, has an estimated net worth of $32 billion, making him the richest man in China. Adding to past acquisitions of AMC Theaters and Legendary Entertainment, the purchase of Dick Clark Productions is another major coup for...Read More
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…