Welcome to the 233rd edition of Trade War.
China’s much-anticipated stimulus could be announced after upcoming congress meeting closes on November 8. Frugal Chinese are hampering economic resurgence. And despite China’s strict capital controls, nervous companies and individuals are finding new ways to move their money overseas.
Central bank governors and finance ministers at the IMF-World Bank annual meeting in Washington DC express skepticism about China’s economic resuscitation plans. And Beijing does charm offensive with US allies on eve of American election.
Former national security advisor John Bolton warns that with a Trump victory, “Taiwan is potentially toast.” And the former president’s recent comments on Taiwan sound “less like the potential leader of the free world than a mafioso running a protection racket,” writes the Atlantic Council’s Michael Schuman.
Notable/In depth ~
Most Americans now believe trade with China damages US national security
“America is not in the mood to study China,” says sinologist Li Cheng, who a year ago left the US after nearly four decades
NY Representative linked to Henan Association at heart of federal charges alleging Beijing influence in governor’s office
Much-anticipated stimulus may be coming
China’s much-anticipated stimulus could be announced after an upcoming congress meeting in early November.
“The November 4-8 meeting of the NPC Standing Committee will take place later than had been expected. The national legislature often meets in the second half of October to discuss a wide range of issues facing the world’s second-largest economy,” reports the South China Morning Post.
“The goals are to enhance the strength of macro policies to expand domestic demand and reach this year’s GDP growth target,” Vice Finance Minister Liao Min said Friday in Washington. “And in the meantime to coordinate with monetary policy to push for the restructuring of the economy, particularly to boost domestic demand including consumption.”
“The size of this round of policies will be of quite large scale,” he added.
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