Upcoming Seminars and Events
Moody’s Downgrade of China’s Credit Rating
Tuesday, 6 June 2017
EAI China watchers highlighted that Moody’s recent downgrade of China’s credit rating—albeit still within the investment grade—should be taken with a pinch of salt and put in perspective. In fact, China’s external debt at 13% of its gross domestic product (GDP) is one of the lowest in the world. Further, the vast majority of debt were incurred by state-owned corporations or enterprises and were denominated in Chinese renminbi, not foreign currencies. China’s household and government debt, by comparison, are also moderate.
Political Economy of the 2009–2016 Malaysia–China Relationship: A Synthesis
29 May 2017
Since Malaysian Prime Minister Najib Razak took office in 2009, Malaysia–China bilateral relations have deepened. Although Malaysia has competing territorial claims with China in the South China Sea dispute, it has held back its assertion of sovereignty rights. Rapprochement between Malaysia and China has instead accelerated from October 2013 as the two countries have taken their relationship to a higher level to become comprehensive strategic partners. This is manifested in an obvious shift from the still ongoing people-to-people relations and projects, to the now dominating government-to-government driven initiative in terms of size and impetus. China became Malaysia’s largest trading partner in 2009, and the largest foreign investor in Malaysia in 2015 and 2016.
CHINA’S REACTIVE AND PROACTIVE TAIWAN POLICIES
QI Dongtao, 30 November 2017
China’s 19th Party Congress has made significant changes to its Taiwan policy, from promoting reunification (促统) through political negotiations to opposing independence ( 反 独 ) with the strongest determination and via all necessary means. While China’s Taiwan policy in the economic and social fields may be proactive and have attained significant progress, its achievement in the political field has been frustrated by both external and internal factors. Taiwan’s rejection, US obstruction and China’s unfavourable internal situation have constrained China’s initiatives for political negotiation with Taiwan. In contrast to the cross-Strait political stalemate, the Chinese government’s economic and social policies have successfully attracted Taiwanese capital, commodities and people to China. The negative impact of cross-Strait political tensions on economic and social integration has been minimal.
CAN CHINA’S SERVICES SUSTAIN ECONOMIC GROWTH?
Sarah CHAN, 23 November 2017
China’s service sector has grown rapidly in recent decades and significantly contributed to the economy in terms of both output and employment. However, there remain sizeable development gaps in terms of structure, productivity and competitiveness. The current structure of service industries is still dominated by traditional low-end subsectors such as wholesale and transportation rather than the knowledge-intensive activities such as financial intermediation and info-communication. Further, the low competitiveness of the service sector reflects state dominance and lack of foreign investment. To ensure the healthy development of services, deregulation and effective regulatory supervision and enforcement are necessary. This is particularly so since services help to facilitate economic development and rebalance the Chinese economy away from its heavy reliance on manufacturing and exports.
East Asian Policy
Volume 9, No 3, Jul/Sep 2017
China: An International Journal
Volume 15, No 3, August 2017
China’s Development: Social Investment and Challenges
by ZHAO Litao