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Saturday, September 28, 2019

[明報]【逃犯條例】涂謹申:政府難抵擋新屋嶺指控 葉國謙:值得考慮開放予外界了解實況

反修訂《逃犯條例》風暴持續,有市民質疑新屋嶺拘留中心透明度不足,懷疑有被捕者遭虐待。民主黨立法會議員涂謹申今早(28日)出席港台節目表示,新屋嶺有慘無人道的酷刑室名號,監察措施不足之餘,近期也有律師遭警方延遲法律探訪,認為政府難以抵擋有關指控;出席同一節目的行政會議成員葉國謙表示,值得考慮開放新屋嶺予外界了解實況。

涂謹申建議,以後反修例衝突後,有兩名以上示威者被捕,便安排當值的太平紳士一小時內到警署,示威者如懷疑被打,便可向太平紳士投訴,認為有關措施積極,不允許警察濫權,政府可於「非常時期」令市民安心。

葉國謙則表示,政府已決定不再使用新屋嶺作為扣留中心,值得考慮開放該處予外界了解實況。他強調,法律上絕不容許警員濫用私刑,又提到在「七警案」中,時任警司朱經緯於2014年佔領運動期間,在旺角以警棍襲擊途人,最終受到法律制裁,因此警方執勤時,絕對應該嚴格遵守法律的規限。

對於政府前晚(26日)舉行「社區對話」,葉國謙表示,有對話比無對話好,但不能夠期望只憑一、兩次對話能解決目前深層次的騷亂。他說,五大訴求根本是做不到的事情,例如成立獨立調查委員會打擊警隊士氣,又稱現時已有行之有效的監警會機制。

涂謹申指出,政府在對話會上,僅提出停用新屋嶺作扣留中心,又未有回應當晚很多人要求成立獨立調查委員會的建議。他說,政府對話旨在聽取「和理非」意見,但民陣於10月1日舉辦的遊行及集會卻被拒絕,批評政府根本不想聽數十萬名市民的意見。


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[TheTimes] Trump mulls US ban on China listings


New York-listed Chinese companies came under scrutiny last night after it emerged that the Trump administration was considering plans to strip their shares from American stock markets.

Officials in Washington are understood to have discussed whether to delist stocks as they consider ways to curb their country's financial investments in Chinese businesses. The prospect of such a move, which would escalate the trade war between the world's largest economies, sent shares in Alibaba, Baidu and JD.com sharply lower.

President Trump has approved wider talks over how to limit American investors' portfolio flows into China, according to Bloomberg, although he has yet to make a decision. His administration is said also to be looking at reducing the reach of US government pension funds in the Chinese market, but has yet to finalise a timeframe or mechanisms to corroborate such ideas.

More than 150 Chinese companies were on the Nasdaq and New York Stock Exchanges in February, according to US government data.

The technology-heavy Nasdaq fell by 1.2 per cent after the reports while the S&P 500 shed 0.5 per cent. The Dow Jones industrial average slipped 0.3 per cent. The Chinese yuan dropped 0.4 per cent against the dollar in offshore markets, edging towards its weakest levels in about three weeks.

The move against certain New York-listed shares comes at a fragile time in relations between the White House and Beijing, with officials due to resume negotiations in the US capital next month.

The US government is searching for additional leverage, having imposed tariffs on Chinese goods worth $360 billion. China has hit back with retaliatory levies on American exports.

Mr Trump's officials are poised to levy more duties on Chinese products in December, meaning that almost all the country's exports to the United States will face tariffs. Beijing has vowed to respond with future levies.

The US president attacked China at the United Nations this week, telling fellow world leaders that America remained "absolutely committed to restoring balance to our relationship".

Later, however, he stoked expectations of a settlement by publicly suggesting that a breakthrough "could happen sooner than you think". Chinese government officials "want to make a deal very badly", he claimed.



[CNN] As China marks 70 years of the People's Republic, cracks are showing in Xi Jinping's facade

Hong Kong (CNN)October 1 was set to be a second coronation for Chinese President Xi Jinping. Instead, buffeted by multiple crises, National Day celebrations may serve to highlight just who is to blame for the country's current difficulties.

As the People's Republic marks its 70th anniversary, Xi's hold on the Chinese Communist Party (CCP) and the wider political structure is tighter than ever. But with absolute control comes absolute responsibility; Xi may be the country's most powerful leader since Mao Zedong, but like the Great Helmsman he is prone to overstepping, and he's vulnerable in ways Mao never was.
As the challenges facing China continue to grow, so have the cracks in Xi's facade. Anti-government unrest in Hong Kong, the ongoing US-China trade war, and even rising pork prices are all major tests for Xi, and not ones on which he is achieving a passing grade.

Economic exhaustion
Deng Xiaoping, who took power after Mao's death and is widely credited with kickstarting China's economic miracle, once described the country's approach to foreign policy as "observe calmly, secure our position, cope with affairs calmly, hide our capacities and bide our time, be good at maintaining a low profile, and never claim leadership."
In recent years, Xi has begun pushing Deng aside, positioning himself as the country's most impactful leader since Mao and downplaying the old reformist's legacy. But his approach on foreign policy, and his economic successes, could not be more different from the man whose mantle he seeks to assume.
Speaking at a ceremony in December to mark 40 years of Deng's "reform and opening," Xi promised "miracles that will impress the world" but offered few specifics over how these would be achieved.
His defining policy has been the Belt and Road Initiative (BRI), a hugely ambitious trade and infrastructure megaproject linking China to markets across central Asia, Europe and Africa. But the BRI has failed to deliver the economic boom times it once promised, and Beijing has been forced to reassess how it deals with partner nations amid claims of "neocolonialism" and "debt trap diplomacy" from recipient countries.
On trade too, Xi's track record is less than stellar, or particularly low profile. He may avoid mouthing off on Twitter, but his approach to the US-China trade war often mirrors that of President Donald Trump, with the two sides continually escalating and refusing to back down.
There were some signs of progress this month, with China exempting some US products from tariffs and Washington responding by delaying further tariffs of its own from October 1 -- which could have been humiliating for Beijing and would likely have drastically escalated hostilities -- to October 15. But there have been detentes in the past, and so far Xi and his negotiators have not managed to turn them into a lasting peace.
They have also apparently drastically misread Trump at times, overplaying their hand and underestimating how little support Beijing has in Washington. Xi may not be directly to blame for such missteps, but they seem to be indicative of an echo chamber at the top of Chinese politics that has only worsened as he moved something approaching a more consensus-based decision making of his predecessors to one-man rule.
Beijing's strategy appears to be predicated on the idea -- at least in part -- that it can outlast Washington. Unlike Trump, Xi is not up for reelection next year (or ever), and a new US administration might be more willing to cut a deal.
This may be true, but there is no guarantee that Trump will be unseated next November, or that any Democratic successor would not keep up the pressure on China. Meanwhile, ordinary Chinese are suffering and trade tariffs are hitting China harder than reciprocal measures are hurting US businesses.
While Beijing has dealt with some of the fallout of the trade war by ramping up nationalism and anti-US propaganda, rising food prices and potential shortages will soon have people asking why the government isn't doing more to alleviate their misery. They may also ask why Xi, if he truly is Deng's heir, is failing to grow the economy at the rates previously guaranteed by China's leaders.

Hong Kong headache
Nationalism too has been the main response to the ongoing anti-government unrest in Hong Kong, which started with protests against a now-shelved extradition bill with China.
That was the initiative of the local government, all parties involved attest, but Beijing has been firmly in the driving seat ever since. While the central government may have succeeded in preventing the unrest spreading to other parts of the country -- always the biggest concern with any protest movement -- its hardline policy has otherwise been an abject failure.
Failure to respond to protest demands in a timely fashion, coupled with heavy policing, has seen the protests escalate.
The violence and continued mass turnouts eventually forced the Hong Kong government and its lame duck leader Carrie Lam to back down on the extradition bill itself, but too late to have much of an effect on the overall movement. The city's economy has suffered, and there are no signs that protests will stop anytime soon, as young Hong Kongers in particular become only more alienated from China.
Had Lam withdrawn the bill when millions of protesters first demanded she do so, or had she been able to respond to more demands when she finally did, a solution might have been attainable. But Beijing's compromises have only come through firmly gritted teeth, and the delay has only further radicalized some sections of the protest movement.
Xi has warned Hong Kong of the costs of continued violence and urged the city to be more like neighboring and obedient Macao, renewing speculation that once National Day is out of the way, Beijing could launch a major crackdown in Hong Kong to get the city under control.
But the costs of a military crackdown -- not least the potential shock of an economic crash in Hong Kong on the Chinese economy -- likely remain too high. Just as with the trade war, Xi's approach seems to be to wait the crisis out, even as the costs continue to grow.

Blame game
When the withdrawal of the extradition bill was finally announced this month, Chinese censors ordered the news downplayed online and in state media. This did not stop some questioning why Hong Kongers were able to effect change through protest, while political speech in China has only become more costly.
Xi appears to have recognized that despite his undeniable power at the top, the potential for unrest below is growing. As he has traveled around the country in recent months, his speeches have been characterized by one word: "struggle."
This is a theme that will be underlined at National Day celebrations next week, according to state news agency Xinhua. The anniversary will provide a chance for people to "forever remember the hardships of the New China, and the process of arduous struggle."
The goal is to inspire "the whole of society to energetically sing the main melody of praise for the new China and the struggle for a new era," the commentary said.
Struggle is in the genes of the Communist Party, which came to power in a revolution and has held on despite every prediction otherwise, but are ordinary Chinese as willing to put up with hardships that come not from outside but from the policies of their own leaders?
Writing this month, Chinese political analyst Minxin Pei said that at 70 years, the People's Republic may be nearing the "longevity frontier for one-party regimes." While CCP doomsayers have been proven wrong over and again, Pei pointed out that no one-party regime has held power beyond 74 years, and today only North Korea's Kim dynasty equals China for endurance.
At National Day celebrations next week, Xi will be front and center. But what is intended as a celebration of power and glory may instead be highlighting exactly who carries the blame for the country's problems.


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[CNBC] France a ‘better option’ than Germany as trade war uncertainty hits Europe

KEY POINTS
They are two of the biggest economies in the euro zone and since the sovereign debt crisis emerged in 2011, Germany has always been seen as the most resilient.
France has a much higher public debt pile and has been more exposed to the financial distress taking place in countries, such as Italy.
However, the tables have turned.

The U.S.-China trade war has changed how economists look at France and Germany, two of Europe's largest economies.


The French economy is now more resilient and more attractive than Germany, three analysts told CNBC, in what marks a clear shift in the way both economies compare.

They are two of the biggest economies in the euro zone and since the sovereign debt crisis emerged in 2011, shaking the foundations of the region, Germany has always been seen as the most resilient. France has a much higher public debt pile and has been more exposed to the financial distress taking place in countries, such as Italy. However, the tables have turned.

"France is the better option. It is less exposed to the downturn in global manufacturing caused largely by (the) trade war," Holger Schmieding, chief economist at Berenberg bank told CNBC via email Thursday.

The ongoing trade war between China and the United States has started to shift the economic picture in Europe. Germany, the largest European economy, is largely dependent on exports and on its manufacturing sector, which makes it more exposed to the vulnerabilities in global trade.

---
The French-German axis remains extremely important for Europe but at the same time, the last years have shown that this axis functions best when both countries are on equal footing.
Carsten Brzeski
ECONOMIST AT ING GERMANY
---

Germany's share of manufacturing in gross domestic product (GDP) is almost 25%, according to recent data from UBS. In comparison, manufacturing in France represents less than 15% of its GDP.

"Global trade tensions inevitably mean that export-dependent countries are under greater pressure than economies where domestic consumption plays a greater role. That's why Germany is really feeling the heat from (President) Trump and China, while France might still be in a somewhat more comfortable place," Carsten Nickel, managing director of the research firm Teneo, told CNBC.

In a report published Thursday, UBS analysts have also said that, "longer-term," they favour France over Germany. They argued this was because French demographics are more growth friendly; French investment and growth rates are above those of Germany; and long-term policies on structural reforms are more substantial in France.

Data released in August showed that the German economy contracted 0.1% in the second quarter of this year compared with the previous three-month period. On the other hand, France grew at 0.2% in the same period.

Forecasts from UBS point to a growth rate of 1.2% in France this year and of 1% in 2020 – above the euro zone's average. In comparison, Germany is expected to grow 0.5% this year and 0.6% in 2020.

However, it will be important to monitor the coming quarters.

"I would not be surprised if France will actually follow the downswing of the German economy in the coming quarters. It will be hard to escape trade conflicts, Brexit and the global manufacturing slowdown," Carsten Brzeski, economist at ING Germany, warned in an email to CNBC this week.

What does this mean for the future of the EU?
The relationship between France and Germany is critical for the future of Europe. They are two of the largest European economies, two of the founding members of the European Union – the political and economic partnership that brings together 28 European nations, and often they define the agenda at the EU level.

"In general, the French-German axis remains extremely important for Europe but at the same time, the last years have shown that this axis functions best when both countries are on equal footing," Brzeski said.

He explained that the ideas that France has for further European integration may not advance if Germany struggles economically.

"When France was in economic doldrums, Berlin killed many proposals. In case positions might reverse now, France would face a Germany which is confronted with a stagnating economy and the least thing they will think about is further European integration," Brzeski said.


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[CNBC] Alibaba, other Chinese stocks drop on reports White House considering China investment limits

Shares of Alibaba and other Chinese companies plunged Friday in a sudden move after reports the White House is considering ways to limit U.S. investments in China.

Sources told CNBC's Eamon Javers that the White House could include a block on all U.S. financial investments in China and the goal is to protect American investors. No decisions have been made and it's nowhere near complete, the sources said.

Alibaba shares slipped more than 5% on the reports, while Baidu and JD.com also fell 3.6% and 6% respectively. Those stocks all trade on the Nasdaq.

The iShares China Large-Cap ETF dropped 1.2% in a sudden move. The ETF's biggest holdings are China Construction Bank and Tencent holdings.

Bloomberg News reported earlier in the day that Trump administration officials are weighing delisting Chinese companies from American stock exchanges and preventing U.S. government pension funds from investing in the Chinese market.

China's currency, the yuan, weakened to 7.15 against the dollar on the news.

The moves by the White House would come as the U.S. and China are set to resume trade talks on Oct. 10 in Washington after both countries slapped billions of dollars of tariffs on each other's goods. Delisting Chinese companies would affect billions of dollars in investment pegged to major indexes, just as the Chinese government is taking steps to increase foreign access to its markets.

A White House spokesperson declined to comment.

In response to the reports, Nasdaq said, "One critical quality of our capital markets is that we provide non-discriminatory and fair access to all eligible companies. The statutory obligation of all U.S. equity exchanges to do so creates a vibrant market that provides diverse investment opportunities for U.S. investors."

The exact details have not been worked out yet and the plan is subject to President Donald Trump's approval, Bloomberg News reported, citing people familiar with the matter. Trump had greenlit the discussion, the report said.


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[CNBC] White House deliberates block on all US investments in China

KEY POINTS
The discussion is in its preliminary stages and nothing has been decided, CNBC's source says.
There's also no time frame for their implementation, the source adds.
Restricting investments in Chinese entities would be meant to protect U.S. investors from excessive risk due to lack of regulatory supervision, the source says.

The White House is weighing some curbs on U.S. investments in China, a source familiar with the matter told CNBC. This discussion includes possibly blocking all U.S. financial investments in Chinese companies, the source said.

It's in the preliminary stages and nothing has been decided, the source said. There's also no time frame for their implementation, the source added.

Restricting financial investments in Chinese entities would be meant to protect U.S. investors from excessive risk due to lack of regulatory supervision, the source said.

The deliberations come as the U.S. looks for additional levers of influence in trade talks, which resume on Oct. 10 in Washington. Both countries slapped tariffs on billions of dollars worth of each other's goods. The discussions also come as the Chinese government is taking steps to increase foreign access to its markets.

Bloomberg News first reported earlier on Friday that Trump administration officials are considering ways to limit U.S. investors' portfolio flows into China, including delisting Chinese companies from American stock exchanges and preventing U.S. government pension funds from investing in the Chinese market.

Shares of Alibaba, Baidu and other Chinese companies plunged following the news. China's yuan weakened to 7.15 against the dollar on the report.

The White House declined to comment.


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[TheTimes] China replaces North Korea as Japan’s top security threat, annual military assessment shows

China is expanding its military activities across east Asia and catching up with the United States as a military power, the Japanese government reported in a grim assessment of its security situation.

In the latest sign of bitter enmity with its closest neighbour, Tokyo pointedly downgraded South Korea among its friends and security partners in its new white paper of defence. It also confirmed for the first-time what officials have acknowledged this year – that North Korea has the capacity to attack Japan with nuclear-armed ballistic missiles.

For decades Japan's security strategy was consistent and stable, based on the alliance with its protector, the US, and on the predictable and long-established military power of China, the USSR and then Russia.

In the 21st century, however, east Asia has been transformed by the rising military power of China, and most recently by the newly acquired nuclear capacity of North Korea. Hints by President Trump, meanwhile, that Japan and South Korea cannot take US protection for granted, have added to the sense of long-term insecurity.

Japan plans to spend 5.32 trillion yen (£39 billion) on defence this year, a 1.2 per cent increase, much of it on new stealth fighters and aircraft carriers. This is eclipsed by China, whose budget is three times larger than Japan's and rising at 7.5 per cent a year.

"China, whose defence budget has been rapidly on the rise, is now almost neck and neck with the United States," Taro Kono, the defence minister, said in Tokyo today.

The white paper said that a joint operation last July by Russian and Chinese bomber aircraft over the Sea of Japan and the East China Sea suggests that the two countries are co-operating more closely than before.

Mr Kono said: "China is deploying air and sea assets in the western Pacific and through the Tsushima Strait into the Sea of Japan with greater frequency."

In last year's white paper the ability of North Korea to miniaturise its nuclear warheads to the extent necessary to mount them successfully on a missile was presented as a possibility; this year it is regarded as an accomplished fact.

"Taking into consideration its technological maturity acquired by nuclear tests, North Korea seems to have already achieved miniaturisation of warheads to place atop ballistic missiles," it says.

"North Korea possesses and deploys several hundred ballistic missiles capable of reaching every part of Japan and continues to possess capabilities for conducting surprise attacks against Japan."