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Some Western officials and media outlets continue to claim that China is “uninvestable” and that there is widespread “foreign capital flight” out of the country, but global businesses, including those from the West, continue to come to China in droves.
China, the second-largest holder of US Treasury bonds, cut its holdings for a fourth consecutive month in July to $821.8 billion, a 14-year low, data from the US Treasury Department showed on Monday local time.
New bank loans in China almost quadrupled in August from July to an all-time record of 1.36 trillion yuan ($186.18 billion), the central bank announced on Monday. The figure was far above expectations and showed that the intensive series of macro policies announced in August had an almost immediate effect in boosting market confidence, experts said.
As is often the case in history, the actions of a dying empire create common ground for its victims to look for alternatives, writes Vijay Prashad. By Vijay Prashad Tricontinental: Institute for Social Research On the last day of the BRICS summit in Johannesburg, the five founding states
Foreign capital, which has contributed enormously to the growth of the world’s second-largest economy and made remarkable returns over the past decades, has voiced its firm and clear strategy to root for the economy amid noises stirred up by some Western politicians and media outlets against China’s economic recovery.