NPC Update: What Policy Themes Might Emerge?

The annual National People’s Congress (NPC) meetings – delayed since March due to the pandemic – will begin on May 22 in Beijing. The fact that the session will be held in-person is a milestone in China’s return to normalcy. COVID-19 will dominate the agenda along with how to spur the economy, particularly getting consumer spending back on track and helping the small and medium-sized enterprises. Most closely watched will be the setting of the economic growth target – a centerpiece of this meeting in normal times. We expect to see either a move away from setting the target or a lowering to potentially 3% – from the previous 6% target.

Quick Take: COVID-19 fatigue? Here’s what you need to know this week

This week, we have analysis and insight fatigue with all things COVID-19. This fatigue is one of the lesser-known side effects of this pandemic, and apparently even people in Washington, DC do not have the antibodies to be immune. Even so, the pace of important bilateral developments this week was relentless. Here are a few noteworthy developments summarized below … with limited analysis.

Quick Take: New Low in China Rhetoric - and What it Could Mean for Businesses

There is so much vitriol directed at China and coming from China over the past couple of weeks. In this Quick Take, we take a look at how wild the rhetoric has become, share some thoughts about what this new low could mean, and about the new risk for businesses to navigate.

Quick Take: What's New with China's Latest Roadmap to Marketize Production Factors?

China issues a new roadmap to marketize production factors, including land, labor, capital, and data. While much of these proposed reforms have been debated for decades, the economic impact of the virus may create renewed political will to move forward. If successfully implemented, these changes would be transformational for the Chinese economy. Here is a summary of the guidelines.

Quick Take: The Backlash against China Begins

As a glimmer of hope has appeared in the fight against COVID-19 in the United States as cases start to stabilize in New York, attention is turning to who should pay for the economic harm and loss of life resulting from the spread of the coronavirus. From Capitol Hill to the churches, there are increasing calls for China to take responsibility for the rapid global spread of the virus. The argument is that the world was not prepared for the severity and rapid spread because China withheld scientific information and downplayed the actual numbers of people infected. Here's our latest observations about the growing backlash against China and future implications.

Quick Take: How is China’s Global Reputation Faring?

So much is unsettled and unknown right now in this new world of the pandemic; the international community's relationship with China is no exception. China's reputation is subject to as much volatility as the markets. Many of the mechanisms to backstop this reputational volatility are stalled or being politicized. While there are more questions than answers about how China – and the world – will come out of this pandemic, the questions shed light on emerging trends. Here's our latest observations about how China's profile is faring globally.

Quick Take: Coronavirus Latest – China’s Efforts to Shore Up Economy

The coronavirus picks up speed in the U.S. as it seemingly comes under control in China. Speculation about the global economic impact includes fears of a recession. Facing already slowing economic growth, China is rolling out measures to shore up the economy almost daily. Here is what you need to know about China’s initiatives.

Quick Take: Coronavirus Latest – Implications for Business

The coronavirus’ rapid spread is hitting the Chinese – and global – economy during the Lunar New Year celebrations, a major driver of consumer growth. While China has acted swiftly to curb domestic and international travel, cancel holiday celebrations, and extend the Lunar festival holidays, developments are fast-moving. Here's what you need to know about the implications for business.

Quick Take: Belt and Road Forum Attempts to Address Growing Criticism

President Xi Jinping presided over China’s Second Belt and Road Forum last week in Beijing amidst growing international criticism. Here’s our quick take on what you need to know.

Quick Take: U.S.-China Trade Moves Forward: Market Opening, Liu He to DC, and Another Big Xi Speech

China’s Ministry of Commerce (MOFCOM) on Friday quietly announced concrete steps to revise and eliminate restrictions set forth in their centrally administered Negative List on inbound foreign investment. In addition, the Vice President Liu He's upcoming visit to Washington and President Xi's speech in December celebrating the 40th anniversary of opening up and reform both show the intention to bring further market openings.

Visualize Your Day To Unlock Your Career

One normal day, as I was getting ready for the daily grind and bemoaning my unhappy lot at a job I didn’t like, it dawned on me that maybe I should question my overall career trajectory. We have all been there. So, like the good consultant that I am, I decided to outsource expertise and hire a life coach. Actually, I just googled “life coaches” and found someone with great reviews. Most importantly, I knew I needed a fresh perspective and some decision-making tools.

Quick Take: China's new financial "Dream Team" signals opening up

What comes next after China's financial "Dream Team" was announced? Opening up of China's financial sector to foreign firms is a priority of the newly announced leadership coming out of the National People’s Congress. The financial sector leadership announced last week is the most Westernized and technically experienced to date.

NPC Update: Fact Sheet

Each March, the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) convene to approve the work plans for the next year in what is commonly known as the “Two Meetings,” or Lianghui. The NPC annual meeting brings together 2,980 deputies from the provinces, the military, and the central government in Beijing. Given the significant personnel changes over the past five years, almost 75 percent of the delegates will be new.

Quick Take: Is China the star of Davos -- again?

Minister Liu He, the trusted economic adviser to President Xi Jinping, gave a much-anticipated speech to the Davos attendees. In keeping with the new normal in China post 19th Party Congress, Liu quoted President Xi: “As long as we keep to the goal of building a community with a shared future for mankind and work hand in hand to fulfill our responsibilities and overcome difficulties, we will be able to create a better world and deliver better lives for our people."

Quick Take: President Xi moves on financial reform

In another clear sign that President Xi is entering the 19th Plenum in a strong position, China has announced plans to open a number of previously restricted sectors to foreign firms. Important policy decisions continue to be made and announced.

Quick Take: Trump announces trade action against China (maybe…)

President Trump did not announce the launch of a 301 investigation today; rather, he signed an Executive Order directing the U.S. Trade Representative to examine China’s intellectual property rights (IPR) protection practices to determine if a Special 301 trade investigation should be launched. T

Quick Take: Finally, the financial work conference

The Chinese government has announced that the Financial Work Conference (FWC) will take place on July 14-15. Originally planned to convene last summer, it was postponed due to divisions over some of the key issues, including the creation of a super–regulator to help ensure consistent oversight between the three main financial regulators (the China Banking Regulation Commission (CBRC), the China Securities Regulatory Commission (CSRC), and the China Insurance Regulatory Commission (CIRC)).

Quick Take: U.S. positions firms for Belt and Road "Project of the Century"

In typical Chinese fashion, this week’s Belt and Road Forum for International Cooperation went off in a big way in Beijing. On May 14 and 15, 1,500 delegates from over 130 nations -- represented by 29 foreign heads of state and more than 200 ministers -- participated in the Forum. The Chinese Government announced 270 deliverables and $124 billion in new investment.

Quick Take: Egypt's latest cabinet reshuffle: Implications for Egypt-China relations

This latest reshuffle was meant to demonstrate action and shore up investor confidence as the economy continues to sputter along. Devaluation of the currency has helped make exports cheaper, but rising inflation is a potential challenge.

Secretary Tillerson meets with Chinese counterpart -- could North Korea missile testing bring the two countries closer?

Meeting of the Ministers On the margins of the G20 Foreign Ministers meeting hosted under the German Presidency, Tillerson and Wang Yi were able to hold their first face-to-face meeting.

Egypt's new ministers, governors sworn in before President Sisi

Nine newly-appointed Egyptian ministers and five governors, including Egypt’s first female governor, were sworn in on Thursday before President Abdel-Fattah El-Sisi in Cairo as part of a cabinet reshuffle. The reshuffle, which mainly involves ministries related to public services and the economy, was approved by parliament on Tuesday.

The end of the Asian century

Basilinna CEO, Deborah Lehr, joined a panel of distinguished speakers on January 26, 2017 to debate "The End of the Asian Century," the title of Michael Auslin's latest book. Dr. Auslin, a historian, Resident Scholar and the Director of Japan Studies at the American Enterprise Institute and panelist, developed a risk map for Asia in five key areas that bring into question the continued rise of the region.

President Trump needs to lead like the businessman he promised he Is

If you asked a Trump voter why they supported their candidate during the 2016 election, you were likely to hear ‘he’s a businessman, not a politician. He’ll run the country like a business.' Very few CEOs run successful businesses without building a core team of advisers with broad, diverse backgrounds and perspectives.

Mark Zuckerberg does not need to be president to change the world

Mark Zuckerberg’s New Year’s resolution to launch a 30-state tour of the United States in 2017 has led to speculation that he is weighing a future in elective office. “After a tumultuous last year,” Zuckerberg wrote in a Facebook post, “my hope for this challenge is to get out and talk to more people about how they’re living, working and thinking about the future.”

Chinese Provincial Leadership Changes

Landmark agreement protects Egypt’s #CultureUnderThreat

Secretary John Kerry and Egyptian Foreign Minister Sameh Shoukry signed the first bilateral agreement between the U.S. and an Arab country to protect cultural heritage at a ceremony in the historic Treaty Room of the U.S. State Department this week.

Egypt's Growing Economy

For China, Green Finance is a strategic imperative

With last month’s high-profile signing ceremony of the Paris Agreement by 174 countries at the United Nations, the complicated process to turn these historic commitments on climate change into reality has begun. Yet away from the cameras, the more difficult process of financing implementation of these commitments is getting a boost from what may seem an unlikely source: the Chinese government.

China said to expand green fund

China and the U.S. are bulking up the size and scope of a fund created to finance green projects to about $3 billion, according to two people familiar with the decision. The capital boost will increase the fund’s size by 50 percent from $2 billion and broaden its investment mandate to green projects beyond just improving the energy efficiency of buildings, said the people, who asked not be identified because the information isn’t public.

Xi’s green teams fight for the environment

Chinese President Xi Jinping was an unexpected savior of the historic Paris Climate Summit last December. He offered far reaching Chinese commitments to reduce carbon emissions, and also provided necessary political momentum to finalize the difficult international negotiations.

Green Finance symposium explores financial mechanisms to promote low-carbon global economic growth

Washington, DC—The Paulson Institute and the Green Finance Committee of China Society for Finance and Banking convened a half-day symposium of global finance leaders and experts to discuss recommendations for the development of robust global green finance mechanisms and markets.

Overcoming the fear of failure: Boosting small business in China

Is fear of failure hindering Chinese entrepreneurship? A new initiative by the Chinese government suggests that cultural sensitivity to failure may be preventing some Chinese businessmen from launching their own companies.

Sisi Follows the New Silk Road to Riches

When Egypt recognized the People’s Republic of China in 1956 — the first Middle Eastern and African country to do so — it ushered the fledgling communist country into the broader international community beyond the Soviet bloc

China’s enforcers: How Beijing keeps local leaders in line

After 10 days investigating wayward provinces, the teams submitted a 1,000-page report with a simple conclusion: local leaders, looking out for their own financial interests, were consistently ignoring directives from Beijing.