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One of the biggest questions arising from Donald Trump’s victory is what impact it will have on the Chinese economy. Conventional wisdom is that China’s growth will be impeded by the new protectionist and inward-looking stance of the United States. But there are also opportunities that China’s government seems to have quickly recognised.
China already has substantial interests and investments
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investments in regions outside of Asia but, with the Trans-Pacific Partnership (TPP) now almost certainly doomed, it also has the chance to claim the role of the world’s leading promoter of international trade deals. The Chinese president has already been holding talks with Malaysia and the Philippines and attended a Pacific Rim summit this weekend in Peru where he no doubt courted a number of Latin American countries nervous about the new administration in Washington. China’s Regional Comprehensive Economic Partnership plan is a ready-made alternative to TPP from which it was excluded and would place the country at the centre of a significant international trade agreement for the first time.
Advocacy for international trade and actions on climate change help to reinforce China’s image as a responsible economic power and one to which many emerging markets may turn if the US’ promised retreat from international trade comes to pass. China has huge domestic issues to address, not least in the areas of human rights and political freedoms. But recent developments provide the opportunity for the country to show that it can act in a sensible and progressive manner and are likely to accelerate China’s journey to economic and political maturity.
Guy Dunn Chief Executive Officer.
P.S. Here are some related articles that I came across on the EMIS platform last week.
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At an all time high, Turkey's passenger car market's monthly sales peaked in 2015 at 114,340 units in December. This demand also tipped the sales of imported light commercial vehicles over 100,000 units for the first time since 2011. The three best-selling brands of passenger car and light commercial vehicles was shared between Volkswagen, Ford and Renault.
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Below are the most read articles in the past week on EMIS Perspectives, our daily blog of emerging market news and insights.
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PETRO-VIETNAM TO ADD POWER PLANTS TO NATIONAL GRID
Vietnam’s Ministry of Industry and Trade reported that PetroVietnam, or Vietnam National Oil and Gas Group, has proposed the additional construction of two thermal power plants to support national electricity development.
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IMF APPROVES $12BN LOAN FOR EGYPT
The International Monetary Fund (IMF) has approved a three-year $12 billion loan programme to support the Egyptian economy, Gulf Times reported.
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