The CPTPP was born out of negotiations between the US and 11 nations on the Asia-Pacific rim; these economies originally sought to develop a trade pact to hedge against China’s rise. So why has China now applied to join the CPTPP? Joe Cash investigates The UK formally applied to join the Comprehensive & Progress Agreement for Trans-Pacific Partnership (CPTPP) on 2 February, a move that made headlines across the UK …
The misfortunes of Chinese property giant Evergrande have dominated the headlines recently, but presenting Evergrande’s predicament as China’s version of the collapse of Lehman Brothers is not accurate, writes Joe Cash Evergrande currently faces liabilities of $305 billion (£222.8 billion) and was supposed to pay its creditors $83.5 million (£61 million) in bond interest by noon on Friday, 24 September Hong Kong time. The interest repayment deadline passed without any …
The Prime Minister has appointed the Rt Hon Elizabeth Truss as Foreign Secretary, meaning that there’s a new top team in government handling the UK’s political-economic relationship with China; the former Secretary of State for International Development, the Rt Hon Anne-Marie Trevelyan, moves to head up to the Department for International Trade Ms Truss has become the UK’s second female foreign secretary, following Labour’s Margaret Beckett 15 years ago. Her appointment means …
UK companies operating in China are beholden to an increasing number of cybersecurity regulations influencing a raft of business activities, including the ease with which a Chinese subsidiary of a multinational company can share customer or R&D data with other parts of the business and how businesses store data Two new regulations making their way into law, the Personal Information Protection Law (PIPL) and the Data Security Law (DSL), are …
One year on from the National Security Law, how well is China balancing its desire to incorporate Hong Kong fully into the Greater Bay Area (GBA) with allowing the city to remain the financial capital of Asia? Writes Joe Cash The Hong Kong National Security Law (NSL) provoked considerable conversation when introduced by China’s National People’s Congress (NPC) in June 2020. Spooked by its seemingly sudden introduction, foreign business leaders …
Improved state capacity, deeper commercial and financial links with the outside world, and online activism will have an important impact on Chinese politics in the coming years, while many trends point towards more, not less cooperation between China and western countries On 1 July 2021, China’s ruling Communist Party celebrated the 100th anniversary of its founding in 1921 in Shanghai’s French Concession. The official festivities included a massive show titled …
China’s post-Covid recovery remains strong, although some signs point to increasing downward pressure in the second half of the year The National Bureau of Statistics has announced China’s Q2 GDP data, and while it is less impressive than the 18.3% year-on-year growth in the first three months of 2021, the 7.9% year-on-year increase (up to RMB 52.3 trillion) in the second quarter nonetheless indicates a steady recovery. It also means …
In a new policy update, Joe Cash explores how the House of Lords’ International Relations & Defence Committee inquiry into the UK’s security and trade relationship with China is shaping up, and how the consensus view is that the UK cannot afford to self-isolate from China – even if Beijing asks London difficult questions at times The political conversation on China in Parliament and across Whitehall has changed in recent …
China supports the G7’s initiative for a Global Minimum Corporate Tax, which it prefers to the EU’s digital service tax proposal – here’s why, writes Torsten Weller. Relations with China figured prominently at June’s G7 summit in Cornwall. Yet despite many media reports highlighting the differences and potential flash points between Western democracies and the Communist Party in Beijing, the meeting addressed several points where both sides are pretty much …
China’s Anti-Foreign Sanctions Law provides a stronger legal basis to the sanctions China has administered to date. However, as Joe Cash writes, this is not necessarily a cause for alarm, as companies should remember that ‘blocking statutes’ are pieces of legislation that all sophisticated actors in international trade have, but few use On 10 June, the Standing Committee of China’s National People’s Congress approved a sweeping law designed to counter …