As leaders from member countries gather in Beijing for the APEC summit, China is reportedly taking advantage of the opportunity to promote its plans for a Free Trade Area of the Asia Pacific (FTAAP) as an alternative to the Trans-Pacific Partnership (TPP) being negotiated by the United States which excludes China. However, Beijing's attempts to include calls for an FTAAP feasibility study (with a target date of 2025) in the communiqué to be distributed to leaders at the end of the session was thwarted by the US, with a US trade representative spokesman announcing that the two countries will be working on a proposal for APEC to further FTAAP in a 'long-term vision' building on other trade deals. Analysts note that Washington wants to avoid distracting attention from the TPP which has already been battling to overcome obstacles related to intellectual property, agriculture, services and investments, as well as objections by various advocacy groups related to the expansive scope and lack of transparency of the agreement. Currently twelve countries are involved in TPP negotiations, being Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
Established in 1989, APEC (Asia-Pacific Economic Cooperation) includes 21 economies from the Pacific Rim region which promote free trade and economic cooperation between members. APEC members are Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, Chinese Taipei, Hong Kong, People’s Republic of China, Mexico, Papua New Guinea, Chile, Peru, Russia and Vietnam.
The APEC program kicks off with the Concluding Senior Officials' Meeting (CSOM) and Fourth APEC Business Advisory Council Meeting, followed by the Apec Ministerial Meeting (AMM) and the APEC CEO Summit, concluding with the APEC Economic Leaders' Meeting (AELM).
When asked whether the United States was attempting to stop the formation of the proposed FTAAP, assistant minister with China's Ministry of Commerce, Wang Shouwen, was reported as saying that there are no blocks or conflicts, noting that the APEC gathering is a forum and not a platform for negotiation. However, China will be seeking to establish which APEC countries would support a free-trade zone with China, just not at the upcoming APEC summit.
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A Cunning Plan For China: Deregulate Chinese Finance MarketsForbesWhat with the Chinese government intervening heavily in the stock markets these past couple of weeks this might not be quite the politic time to suggest that the real answer to their problems is to completely deregulate finance in that country. However ...and more »
The Japan TimesChina's financial woes draw parallels with Japan's crash in late 1990sThe Japan TimesSINGAPORE ? As China's stock markets have lurched wildly, seeding dramatic falls around the world, some have drawn parallels with the global financial crisis of 2008 or the Asian version a decade earlier. They are weak comparisons. The abrupt end of ...and more »
Business InsiderVW Finance sees boost from China reserves policy moveBusiness InsiderBEIJING (Reuters) - When China's central bank singled out auto financing companies for extra help on Tuesday, it effectively freed up more than 200 million yuan ($30 million) for Volkswagen AG's China finance unit, which it can use to boost falling car ...and more »
Telegraph.co.ukCitigroup braces for world recession, calls for Corbynomics QE in ChinaTelegraph.co.ukProf Chen said a Western-style financial collapse in China is ?highly unlikely? since the banks are largely government-owned and losses will be absorbed by the state. There is a loose parallel with Japan, where the economy slid into a deflationary ...and more »
The EconomistThe Great Fall of ChinaThe EconomistONCE the soundtrack to a financial meltdown was the yelling of traders on the floor of a financial exchange. Now it is more likely to be the wordless hum of servers in data centres, as algorithms try to match buyers with sellers. But every big sell-off ...Focus turns to US data as China slowdown loomsYahoo! Maktoob NewsEconomy in 'appropriate range': ChinaCourier MailGlobal stocks climb as US growth offsets China fearsYahoo NewsThe Fiscal Times -Business Insider -Financial Timesall 1,502 news articles »
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Held twice a year in the city of Guangzhou, capital of the Guangdong province, the Canton Fair has been running since 1957 and is considered to be the largest trade fair in China. The Canton Fair (full name being China Import and Export Fair) is organized by China Foreign Trade Center and supported by the Ministry of Commerce of China and People’s Government of the Guangdong Province. To accommodate the more than 150,000 different products showcased by more than 55,800 exhibitors, the Canton Fair is split into three sessions. Phase 1 of the current Canton Fair took place on October 15-19 and included Electronics & Household Electrical Appliances; Lighting Equipment; Machinery, Vehicles & Spare Parts; Hardware & Tools; Chemical Products; Energy Resources; and Building Materials. Phase 2 is set to take place on October 23-27 featuring Consumer Goods; Gifts; and Home Decorations. Phase 3 on October 31 to November 4 includes Office Supplies; Recreation Products; Cases & Bags; Food; Textiles & Garments; Shoes; and Medicines, Medical Devices & Health Products.
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