China şi S.U.A. îşi arată muşchii

R.P. Chineză şi S.U.A. au decis că o serie de întâlniri şi evenimente care au ieşit prost merită să fie urmate de o altă serie de lovituri la picioare, coate în burtă şi bătăi cu fularele. Cam ca la şcoală.

U.S. sells weapons to Taiwan, angering China

Saturday, January 30, 2010

The Obama administration announced the sale Friday of $6 billion worth of Patriot anti-missile systems, helicopters, mine-sweeping ships and communications equipment to Taiwan in a long-expected move that sparked an angry protest from China.

The sale, formally announced by the Defense Security Cooperation Agency, is expected to prompt China to slow or even break military relations with the United States and cancel a visit by President Hu Jintao to Washington in April. Chinese officials have threatened other actions, including sanctions on the U.S. companies supplying the equipment or on businesses in the districts of congressional lawmakers known to be backers of Taiwan.

Its vice minister of foreign affairs, He Yafei, said China was "strongly indignant" about the arms sales to Taiwan and warned that they would have a "serious negative impact" on U.S.-China cooperation.

China, evident, a decis să răspundă:

China Dumps US Asset Backeds and Corporates

February 9th, 2010
By David Goldman

Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China’s large commercial banks. The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee. This already has been communicated to American securities dealers, according to market participants with direct knowledge of the events.

It is not clear whether China’s motive is simple risk aversion in the wake of a sharp widening of corporate and mortgage spreads during the past two weeks, or whether there also is a political dimension. With the expected termination of the Federal Reserve’s special facility to purchase mortgage-backed securities next month, some asset-backed spreads already have blown out, and the Chinese institutions may simply be trying to get out of the way of a widening. There is some speculation that China’s action has to do with the recent deterioration of US-Chinese relations over arm sales to Taiwan and other issues. That would be an unusual action for the Chinese to take–Beijing does not mix investment and strategic policy–and would be hard to substantiate in any event.

And kept going:

First it was pirates. Now it’s Yemen.

February 8th, 2010

I‘ve early written that Somalia‘s pirates may be the accidental spark for greater Chinese military intervention in the region. Here‘s another spark. This article from China Energy Web worries that unrest in Yemen may threaten China‘s oil imports from the region.

The author says “The United States recognizes Yemen‘s geographic ability to choke China‘s oil import life lines“. He then hints that the United States may bring the war on terror to Yemen, and “strangle China‘s oil imports and strangle China‘s economy“. The rest of the article carries on in a similar tone.

Now, the author is a reporter, not an official. But the fact that he is considering Yemen in this manner raises the possibility that officials are as well. China certainly has strong commercial interests in Yemen, as I‘ve written about here and here. Many of its top Arabic-speaking diplomats have also served in the country.

Sub presiunea S.U.A. şi UE de a înceta raportarea monedei naţionale la dollar şi a permite aprecierea ei şi, ca rezultat, scăderea competitivităţii produselor chinezeşti, China a decis să mărească salariile la nivel naţional:

Higher labor costs would cut Chinese export competitiveness while boosting domestic spending power and sustaining economic growth, according to the bank. Premier Wen Jiabao’s government has been pressed by U.S. and European officials to end a 19- month yuan peg to the dollar to help diminish trade and investment imbalances that contributed to the credit crisis.

“Wage increases are a better option because they largely benefit Chinese workers,” Tao Dong, a Credit Suisse economist in Hong Kong who has covered the Chinese and Asian economies for more than 15 years, said in an interview yesterday. “Currency appreciation will only result in Chinese exporters losing out to competitors in countries such as Malaysia and Mexico.”

The strategy may limit gains in the yuan to 3 percent this year, according to Tao. This month’s 13 percent increase in minimum wage in eastern China’s Jiangsu province indicates that higher pay will play an important role in officials’ efforts to rebalance growth in the fastest-growing major economy, Tao said.

The wage decision “argues against a large one-off yuan revaluation,” Ben Simpfendorfer, an economist with Royal Bank of Scotland in Hong Kong, wrote in a note this week.

Şi distracţia nu s-a terminat încă. Rămâne să vedem răspunsul S.U.A.

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Surse:

http://www.washingtonpost.com/wp-dyn/content/article/2010/01/29/AR2010012904113.html

http://blog.atimes.net/?p=1352

http://www.zerohedge.com/article/china-dumping-begins-reserve-managers-notified-any-non-usg-guaranteed-securities-must-be-div

http://www.silkroadeconomy.com/2010/02/08/first-it-was-pirates-now-its-yemen/?utm_source=subscriber&utm_medium=rss&utm_campaign=rss