久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

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: 国产三级在线播放线 | 九九热视频精品在线观看 | 成人免费在线网站 | 九九免费精品视频在这里 | www.99热| 国产成人综合怡春院精品 | 国产福利一区二区三区 | 国产黄页 | 亚洲成人福利 | 性欧美videofree中文字幕 | 久久在线免费观看视频 | 99国产精品久久久久久久日本 | 欧美a欧美1级 | 久久久久国产 | 欧美大片一级特黄 | 日本免费观看的视频在线 | 日韩a一级欧美一级在线播放 | 久久国产精品久久 | 萝控精品福利视频一区 | 欧美aaa毛片免费看 欧美aaa视频 | 亚洲精品国产精品国自产网站 | 欧美一级毛片一免费 | 成人影院一区二区三区 | 欧美一级毛片欧美毛片视频 | 韩国毛片在线 | 欧美性巨大欧美 | 美女黄网站视频 | 日本在线资源 | 亚洲欧美不卡中文字幕 | 免费成年人在线视频 | 我要看三级毛片 | 欧美人禽杂交狂配毛片 | 国产成人精品一区二区三在线观看 | 国产资源免费 | 国产男女猛烈无遮档免费视频网站 | 久在线播放 | 美女图片1314mm爽爽爽 | 男女视频免费看 | 成人做爰视频www在线观看 | 中文字幕欧美日韩一 | 农村寡妇特一级毛片 |