Newsletter By     2022-11-26
In the current Chinese discourse, the “bottom-line thinking” refers to decision-making based on the worst scenario and fully considering the possibility of risks. In the age of anti-globalization and the era where geopolitics dominates the world, China's economy is yet to be free from the risk of economic slowdown. Economic security remains a crucial issue for the country, both at present and in the future. From the policy level to the market level, it is required to deal with what is known as the “bottom-line state”. It implies that China has also been downgraded to “bottom-line demand”. Enterprises, families, and individuals in the country will need to make preparations for it, so as to adapt to the economy concentrating on survival necessities. The focus of China’s economy is on fulfilling everyday necessities, especially food, instead of prosperity, development, and growth as in the past. This drastic change will not only be reflected in the external performance, but also in the evaluation of development standards. Instead of relying on market competition and efficiency as the standards to measure development like in the past market economy, fulfilling these daily necessities will be the yardstick. It will last for a period of time, read He Jun, Director of Macro-Economy Research Center and Senior Researcher at ANBOUND. >>
After the global population reaches 8 billion, the world will step into a stage of structural growth. The increase of population in poorer regions will make differences more obvious. As their distinct paces in social governance and economic growth, coupled with climate change, the regions such as Africa with higher population growth are facing severe challenges, while other regions are addressing to continuous aging and immigration. Could the global population break through the 10 billion? It would be uncertain. Regardless of whether the number climbs to its peak or not, the massive population will certainly put pressures. The main issue is, how to be sustained, noted Li Lantao, economist at ANBOUND. >>
The transfer of TSMC's chip manufacturing technology and technical talents to the United States has kicked off the process of "hollowing out" of the company. Once started, this may become an irreversible process. Geopolitics now dominates the world, and against the backdrop of the U.S.' moves against China as its long-term strategic competitor. TSMC's role played in geopolitics has been largely determined. The company is transferring its technology, talent, and investment to the U.S., and turns to be an "American company with Taiwanese DNA". Along with intense geopolitical friction, TSMC may adjust its strategy of mainly investing in Taiwan. Once the corporation changes its layout , the U.S. would be the biggest beneficiary of TSMC's foreign transfer investment, discussed researchers at ANBOUND.>>
China's LPR has been "standing still" for three consecutive months, which means that the use of aggregate monetary policy tools will tend to be cautious. The People’s Bank of China, central bank, will return to a prudent neutral tone for a considerable period, and the focus of policy will be on structural policy adjustment. It is expected that the PBoC will adopt targeted tools to promote "wide credit". Judging from the recent market operation of the central bank, the MLF tapering operation and the unchanged interest rate indicate a marginal narrowing of monetary policy, which is also implied in the third quarter monetary policy report. However, this does not mean a tightening of overall liquidity or a shift in the tone of monetary policy, but rather a shift in the focus of PBoC monetary policy. Next, the strength of structural monetary policy will be increased, and the goal of reducing comprehensive financing costs and maintaining moderate liquidity will be achieved with structural easing, in the opinion of Wei Hongxu, senior economist at ANBOUND. >>
【Notice of Event Postponed】 Based on developing information regarding the COVID virus and the recent announcements made by local health departments, in accordance with the Chinese pandemic control guidelines provided by the cities and other organizations, the Joint Organizing Committee of ANBOUND and the Chinese Academy of Sciences have decided to cancel the previously scheduled for 2022 Forum entitled Hydrogen Energy Society and Industry Policy Initiatives on Monday, 28 November and its Press Conference on Friday, 25 November. We would keep in touch with the later dates. Thank you for understanding and continued support to us. >>
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2022-11-26
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