China news roundup / Nachrichten 2024-02-09
China’s Xi calls for stronger ‘strategic coordination’ with Russia in Lunar New Year call with Putin
"Xi told Putin the two sides should “strengthen strategic coordination” and “safeguard the national sovereignty, security and development interests of their respective countries,”"
--- This must mean that China will finally mediate between Russia & Ukraine, I'm sure. Peace is in the air...
"“Vladimir Putin and Xi Jinping specifically stressed that close Russia-China interaction is an important stabilizing factor in world affairs,” the Kremlin readout said"
Decoding China: Deflation scare in the Year of the Dragon
"This Lunar New Year, also known as Spring Festival or Chinese New Year, is an annual celebration of the first lunar cycle of the new year. It's a weeklong national holiday in China, and this year it starts on January 10."
--- Sic! That decoding doesn't seem to work very well.
"The government has also projected a domestic travel rush this year, with people making an estimated 9 billion trips over the 40 days surrounding the long holiday.
But a Chinese tourist who is currently on a skiing vacation near Beijing, Hou, said "prices for hotel rooms are cheaper than they were in the past few years.""
--- CCP propaganda meets reality. If travel bookings really were on a record level, hotel rooms most probably would not actually be cheaper than before.
El-Erian, Krugman and other economists have very different opinions on China’s struggling economy
"Xi Jinping said on New Year’s Eve that the nation’s economy had grown “more resilient and dynamic this year.”"
"”JPMorgan Private Bank also outlined bull case scenarios for China in a recent post. “Despite the stock market’s slipping sentiment and persistent problems with the property market, certain segments of the Chinese economy have also proved their resilience,”"
--- Some people on Wall Street don't want their customers to realise what's going on in China. Even if Chinese shares might rise for a while, there is virtually no connection between the real economy & the stock market. Any investment in China, in shares or otherwise, is under political risk, anyway.
German firm BASF to pull out of Xinjiang after Uyghur abuse claims
"In a statement on Friday, BASF said that while “regular due diligence measures including internal and external audits have not found any evidence of human rights violations in the two joint ventures”, the recent reports “indicate activities inconsistent with BASF’s values”."
--- 'We didn't see anything, we still don't see anything, but of course the behaviour described in the reports would be not what we like to be public. But...'
"BASF said on Friday that it had decided in the final three months of 2023 to divest from the two joint ventures because of “the market environment and product carbon footprints” of the chemicals made at the plants in Xinjiang."
--- '... that doesn't really mean that we leave Xinjiang because of that alleged behaviour. We made the decision to divest long ago & purely based on environmental & economic considerations. No human rights involved! Do you hear us, emperor Xi? Please believe us that we don't do this for political reasons! Be merciful, oh great emperor!'
State sector employees tighten belts ahead of Lunar New Year
US considering curbs to keep Chinese 'smart cars' out of the country - Bloomberg News
--- China Uncensored features the weekend news variety again:
--- CNBC: Michael Pettis explains why debt is not the problem, but the symptoms of China's economic woes
--- CNBC: Investors are 'tiptoeing' back into the Chinese market, but more needs to be done
The CCP wishing you a happy new war ... er ... year.
BASF zieht Konsequenzen aus Vorwürfen zu Uiguren
"Der deutsche Chemiekonzern BASF zieht Konsequenzen aus Vorwürfen gegen eine Partnerfirma in China, Menschenrechtsverletzungen unterstützt zu haben."
--- Zieht BASF wirklich Konsequenzen aus den Vorwürfen?
"Das Unternehmen betonte nun, auch im Zusammenhang mit den jüngsten Berichten keine Hinweise darauf zu haben, dass Mitarbeitende der beiden Joint Ventures in Korla an Menschenrechtsverletzungen beteiligt gewesen seien. Die Berichte bezögen sich nur auf den Joint-Venture-Partner von BASF, an dem der Konzern nicht beteiligt sei."
--- Man will immer noch nichts sehen. & nach BASF-Angaben wurde die Entscheidung, sich von den Xinjiang-JVs zu trennen, schon letztes Jahr getroffen. Hat also angeblich nichts mit den Vorwürfen zu tun.
Siehe:
Chemiekonzern zieht sich aus Xinjiang in China zurück
"Der Verkaufsprozess sei schon Ende vergangenen Jahres eingeleitet worden und werde nun beschleunigt, schreibt BASF. Die Präsenz in der Volksrepublik bliebe „ansonsten unverändert“. An Investitionsplänen halte man „in vollem Umfang fest“."
--- Lalala ...
US-Regierungsbehörden: IT seit Jahren durch chinesische Angreifer unterwandert
Warum China voll auf Chiplets setzt (Gähn)
