- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
Investors pushed the benchmark gauge down as much as 1.4 per cent amid concern that the government's latest attempt to tighten supervision of $US15 trillion in asset-management products will siphon funds from the market. Developers and brokerages paced losses.
While analysts applauded the plan as an important step toward curbing risk in China's financial system, they also warned of turbulence as markets adjust to outflows from popular shadow-banking products. The government directives, which are set to take effect in 2019, add to signs that President Xi Jinping is willing to sacrifice growth as he tries to put the world's second-largest economy on a more stable financial footing.
Clive Palmer wins $200m in damages from former Chinese partners
"The nature of Chinese economic decision-making has the potential to cause significant downside risks for those countries that become most dependent on the Belt Road initiative," he said. Nations that suddenly fall out of political favor with Beijing, for whatever reason, could subsequently suffer weighty economic consequences.
Since Mugabe assumed power in 1980, Beijing has fostered intimate political, military and personal ties with the controversial politician, providing his government with interest-free loans — a relationship that's resulted in hefty Chinese investments within Zimbabwe's tobacco, diamond and power industries.
China has backed Mugabe even as he was slammed in the West for despotic rule — in 2008, Beijing vetoed a United Nations resolution that would have imposed an arms embargo and financial restrictions on the African leader.
Adding to the speculation are reports of the Zimbabwe National Army deploying Chinese-made Type 89 armored vehicles during the coup. Neither the United Nations nor the Stockholm International Peace Research Institute had any record of Type 89s being delivered to Zimbabwe, IHS Jane's said in a recent note, adding that none of the army's other types of armoured vehicles were seen during the operation.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?