www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / View

The dark side of China's offshore investment

By Ed Zhang (China Daily) Updated: 2015-02-02 10:55

Weighing up all the factors at work, China's domestic economy will most likely be OK in 2015. There will be some areas, like Internet-based small enterprises, that will probably see great progress. But there will be a dark side. And that will be about the money.

It is not that Chinese companies are short of working capital or investment. The country is right now one of the few economies with an abundance of money. The government has allowed small private lenders to spring up like mushrooms. It is much easier for competitive businesses to be approached by private equity and venture capital fund managers, from Beijing and Shanghai to Shenzhen.

It is not that the securities market will collapse. The Chinese market may be more volatile than anywhere else. But if, as Premier Li Keqiang said last week, the country is still to create more than 10 million off-farm jobs, then its overall growth rate can't be allowed to drop by much, and at least some of the listed companies will be government-led investment projects.

Neither is it that some local governments, or companies serving as local government financial vehicles, will default on their loans and declare bankruptcy, even though the amount of local government debts is dangerously high. There is no doubt that some local projects will be discontinued, if not abandoned.

At the very least, every local government has a few newly built and expensively furnished office towers. They can be sold to private investors to be converted into hospitals and schools-to at least generate the money to fund the government's daily functioning.

Since the 1990s, China has been an expert in postponing a full-fledged domestic economic crisis, and in the process, either mitigated or suppressed its would-be impact.

The biggest uncertainty, however, lies outside China, in the financial validity of its long-term commitments across the globe. This is because, in overseas investment, China is still a new player and has yet to be equipped with enough experience and skills.

Since more than half a century ago, China has tended to see its outbound investment not as a pure economic activity, but as a mixture blended with political significance, say a kind of friendship with humanitarian aid benefits, to countries that were ignored by the traditional major powers of the world.

Since the outbreak of the global financial crisis in 2008, thanks to China's rich export income and dollar reserve, it has invested quite ambitiously in some overseas assets, from energy and mineral resources to logistic infrastructure. But now, with changing global market prices-partly because of a change in China's own demand structure-and changing politics in recipient countries, some of that investment is in danger of being wasted.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 视频一区在线免费观看 | 无码免费一区二区三区免费播放 | 永久免费观看午夜视频在线 | 精品国产品欧美日产在线 | 日韩区 | 国产精品手机在线亚洲 | 国产精品美女久久福利网站 | 国产成人精品亚洲77美色 | 免费人欧美成又黄又爽的视频 | 午夜看片a福利在线 | 99视频在线精品免费 | 亚洲天堂中文网 | 国产成人亚洲精品91专区高清 | 亚洲黄a| 欧美一级俄罗斯黄毛片 | 欧美性色黄在线视 | 国产伦理久久精品久久久久 | a毛片免费全部播放毛 | 国产免费黄视频 | 欧美性妇 | 国产精品国产精品 | 亚洲欧美高清视频 | 亚洲综合日韩欧美一区二区三 | 成人在线观看国产 | 国产成人影院一区二区 | 国产三及| 亚洲国产剧情在线精品视 | 国产一级片网址 | 久久亚洲私人国产精品va | 国产精品天天爽夜夜欢张柏芝 | 久久99网站 | 香蕉视频亚洲一级 | 97视频在线播放 | v欧美精品v日本精品 | 男女性关系视频免费观看软件 | 成人性色生活片全黄 | 一级片一区 | 波多野结衣在线观看一区二区三区 | 欧美成人免费sss | 国产精品成人观看视频网站 | 日本国产最新一区二区三区 |