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China/US tensions in S China Sea

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Graham Perry
Graham Perry
Experienced Arbitration Lawyer | China & Chinese Business Affairs | Public Speaker/Lecturer.

Post #1 31 January 2021

More information is emerging re intense military competition between US + China around Taiwan/ South China Sea following a Chinese simulated attack on US aircraft carrier, USS Theodore Roosevelt. In an incursion into Taiwan’s air defence zone, China’s PLA sent 11 aircraft on 23 January + 15 aircraft/24 January.

Chinese aircraft remained 250 miles from the US carrier but pilots of Chinese H-6 bombers could be heard in cockpit conversations confirming orders for simulated targeting and release of anti-ship missiles.

The US spokesperson, Capt Kafka for US Indo-Pacific Command, accused China of intimidation referring to “competing territorial claims”.

Uppermost for China will be its territorial integrity which includes Taiwan + the principle of One China. In a continuation of Trump’s policy, new US Secretary of State, Antony Blinken, referred to China’s alleged genocide repression of the Uyghurs.

China’s strategy remains inflexible as Biden works out whether he is Trump Mark Two or Biden Mark One. Is there a hot line between Washington and Beijing? Hope so. Mistakes do happen.

Post#2 31 January 2021

China’s mutual fund industry surged 48% to a record $3.1tn in 2020.

China is expected to develop into the world’s second-largest asset management market after the US during this decade providing significant growth opportunity for investment managers. UBS forecasts mainland China mutual fund assets could reach $16tn by 2030. Assets held in US mutual funds currently stand at $23tn.

Demand was particularly strong for balanced funds that invest in both stocks + bonds where allocations to new launches reached $250bn, up from just $36bn in 2019.

But this surge needs to be managed and controlled lest asset bubbles grow says Ma Jun of the Bank of China eyeing the surge in China’s equity market. Mr Ma previously worked for the World Bank and IMF.

Two points;- first, not much evidence of “de-coupling”. Second, China continues to focus on supervising the development of its increasingly open economy.

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