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652. Fair competition put into practice
- Author:
- Lu Tong
- Publication Date:
- 05-2019
- Content Type:
- Policy Brief
- Abstract:
- This year's Government Work Report sent an important signal to the global community that China aims to create a fair market environment based on competitive neutrality. Competitive neutrality is a set of public policies for regulating domestic market order. It means that State‐owned enterprises and private businesses compete on a level playing field and that SOEs should not obtain an unfair competitive advantage to the detriment of free trade in such areas as tax, subsidies, debt, supervision and market entrance.
- Topic:
- Markets, Business, Trade, and Strategic Competition
- Political Geography:
- China and Asia
653. Trade trends show China should take the opportunity to diversify its market
- Author:
- Dong Yan, Ma Yingying, and Xu Tingting
- Publication Date:
- 05-2019
- Content Type:
- Policy Brief
- Abstract:
- The China-US trade row has been drawing a lot of attention. A detailed review of the bilateral trade situation between China and the US from January through April is a good reference for the future trend. Also, as uncertainties loomed amid tariff hikes, some related US industries were afflicted, such as plants, minerals and precious metal in the first quarter.
- Topic:
- Markets, Tariffs, Trade Wars, Diversification, and Trade
- Political Geography:
- China, Asia, North America, and United States of America
654. The Function Transformation of Central Banks and Commercial Banks under the Application of Digital Fiat Currency
- Author:
- Song Shuang and Liu Dongmin
- Publication Date:
- 04-2019
- Content Type:
- Policy Brief
- Abstract:
- Since the advent of Bitcoin, digital currency and its underlying distributed ledger technology have been spread and applied rapidly around the world. Traditionally, currency issuance and circulation are based on binary tree structure, with the central bank as the highest node, commercial banks in the middle and the public and enterprises at the bottom. However, in the distributed ledger system, all nodes have similar privileges and can transact with each other directly. Hence, the advocators promote the potential of digital currency to subvert the monetary control of sovereign countries and alter the traditional business of commercial banks with the characteristics of decentralization, trust-free intermediary, non-tampering and encryption security. On the other hand, the dissenters believe that transaction nodes in distributed ledger system will be greatly increased, and hence reducing the professionalism of transaction processing and forfeiting the authenticity of original information, which then becomes difficult to play a significant role in the future economy.
- Topic:
- Science and Technology, Economy, Banks, Central Bank, Currency, and Bitcoin
- Political Geography:
- China and Global Focus
655. US-EU dispute over auto trade could get worse
- Author:
- Dong Yan and Xu Tingting
- Publication Date:
- 02-2019
- Content Type:
- Policy Brief
- Abstract:
- The dispute over auto trade between the United States and the European Union is becoming more heated and uncertain. US President Donald Trump has threatened to slap additional tariffs of 25 percent on autos imported from the EU if the bloc doesn't agree to a trade agreement favorable to the US. Although Dutch Prime Minister Mark Rutte told CNBC on Monday that there's a lot happening behind the scenes to ensure the US and the EU reach a trade deal, Bloomberg, citing a senior EU official, reported on Friday that the EU is ready to target Caterpillar and Xerox if Trump hits cars.
- Topic:
- Treaties and Agreements, European Union, and Trade
- Political Geography:
- Europe, North America, and United States of America
656. Opinion: What Is China’s Core Economic Interest in Trade War?
- Author:
- Qiyuan Xu
- Publication Date:
- 02-2019
- Content Type:
- Policy Brief
- Abstract:
- The trade conflict between China and the U.S. has lasted for more than half a year. The two sides have held several rounds of consultations, but agreements were later broken and tensions have only intensified. The spat will likely be protracted, with frictions to continue and possibly escalate for a period of time, given the two countries’ diverging interests, public opinions and historical experiences. A broad range of issues are involved in the trade dispute. For example, the U.S. has pressured China on forced technology transfer, talent strategy and industrial policy issues, as well as issues the two sides have long been at odds over, such as intellectual property rights, labor, environmental protection, stateowned enterprise reform and foreign exchange rates. Meanwhile, the U.S. has targeted products and sectors that go well beyond those in which China has a competitive advantage. The U.S. tariffs also target industries that the country plans to focus on for future development.
- Topic:
- Development, Tariffs, Trade Wars, Trade, and Strategic Competition
- Political Geography:
- China, Asia, North America, and United States of America
657. China’s economy seeks bottom amid downward pressure in 2019
- Author:
- Qiyuan Xu
- Publication Date:
- 02-2019
- Content Type:
- Policy Brief
- Abstract:
- Proactive fiscal policy will be employed this year to meet the challenge of downward pressure In 2019, the Chinese economy is expected to seek a bottom as a slowdown is inevitable. It is anticipated that it will stabilize at the end of the year or early next year at a growth rate of around 6.3 percent. With China's economy entering a new era, policymakers should focus more on the quality of growth in addition to maintaining a moderately high growth rate. ...... At the same time, China's economy is facing a lot of downward pressuredomestically. First, confidence in the financial market needs to be restored. In2018, China's financial market was hit many times; its stocks, bonds, fundsand internet finance, for example, were all affected. In addition, at present, thewidening credit spreads and the high degree of liquidity between bankscannot be converted into loans to enterprises and other market entities. Facedwith rising market risks and faltering consumer confidence, investors preferlow-risk or risk-free asset allocations.
- Topic:
- Markets, Financial Markets, Economy, and Fiscal Policy
- Political Geography:
- China and Asia
658. Supply-side reform leads to economic resilience
- Author:
- Qiyuan Xu
- Publication Date:
- 02-2019
- Content Type:
- Policy Brief
- Abstract:
- China's GDP grew 6.6 percent in 2018, according to National Bureau o ftatistics data. Despite the slight slowdown in the GDP growth rate, however, exports grew at a relatively high 9.9 percent year-on-year calculated in US dollars. And, not surprisingly, China's trade surplus with the United States expanded further. ...... Besides, the relative prosperity index of small and medium-sized enterprises has dropped to the second-lowest point in a decade, and the financial cost differentiation among various industries is growing. This may have a negative impact on not only short-term macroeconomic stability, but also the development space of relevant emerging industries and long-term growth momentum.
- Topic:
- Reform, GDP, Economy, Economic growth, and Resilience
- Political Geography:
- China and Asia
659. How to strengthen Europe’s Policy Brief agenda on digital connectivity
- Author:
- Maaike Okano-Heijmans
- Publication Date:
- 07-2019
- Content Type:
- Policy Brief
- Institution:
- Clingendael Netherlands Institute of International Relations
- Abstract:
- Connectivity is high on the EU’s agenda, but its digital dimension remains underdeveloped. The short paragraph on digital in the EU connectivity strategy is telling. The EU’s distinct approach to digital connectivity – with a focus on the internal market, rule-making and development – differs from similar strategies, particularly China and its Digital Silk Road. "Now is the time to act on digital connectivity's practical as well as strategic elements of hard infrastructure and business operations." Needed, now, is a comprehensive strategic vision that spurs action on all three practical elements of digital connectivity – namely, telecommunications infrastructure, business and regulation – and gives strategic guidance in the political and even securitized sense, and not only from a market perspective. Read the full Policy Brief by Senior Research Fellow Maaike Okano-Heijmans.
- Topic:
- Science and Technology, Infrastructure, European Union, and Digital Cooperation
- Political Geography:
- China and Europe
660. Are the Dutch really going green? Policy Brief Climate politics in the Low Lands (part two)
- Author:
- Paul Hofhuis
- Publication Date:
- 09-2019
- Content Type:
- Policy Brief
- Institution:
- Clingendael Netherlands Institute of International Relations
- Abstract:
- This is the second Clingendael Policy Brief on climate policy development in the Netherlands. The first 'Are the Dutch going Green' was published in January 2019 and dealt with the political context and policy proposals made between autumn 2017 and the end of 2018. This policy brief focuses on the most recent developments until mid-September 2019. During this period the Dutch Parliament adopted a Climate Bill, provincial elections were won by a climate-sceptical party, and political agreement was reached on a comprehensive package of climate policies: the national Climate Agreement. This agreement, referred to as the ‘biggest refurbishment of the Netherlands since the Second World War’, was pre-cooked in an extensive negotiating process between government and civil society. The policies target especially the industrial, energy, transportation, housing and agriculture sectors. A key element of the societal debate focused on the costs of climate policies and how they should be allocated. In order to hammer out a political deal, the Dutch government had to change key assumptions of its constituting coalition agreement of 2017, and adjust some of the proposals developed by civil society, notably those favoured by industry. A lesson learned from the Dutch case is that setting ambitions may be relatively easy, but translating them into effective climate action is a tougher job, particularly when political decisions have to be taken on who will pay for what.
- Topic:
- Climate Change, Treaties and Agreements, Green Technology, and Sustainability
- Political Geography:
- Europe and Netherlands