As a country, China … This is a city of more than 22 million. There are risks. Wall Street … That is why now Wall Street has come to a different conclusion about China's base case. (AP Photo/Andy Wong). Slumping external demand from China’s foreign trade partners amid a rapidly worsening pandemic crisis just means China’s economy takes longer … Wall Street English was established in 1972 in Italy by Italian Luigi Tiziano Peccenini. Bullish On 2021 And China, Jia Law Group, P.C., Announces New Wall Street HQ News provided by. The City Wall of Nanjing (Chinese: 南京城墙; pinyin: Nánjīng chéngqiáng) was designed by the Hongwu Emperor (1328–1398) after he founded the Ming Dynasty (1368–1644) and established Nanjing as the capital in 1368. BlackRock, a giant asset manager, has got the nod to set up a Chinese fund business. Slumping external demand from China’s foreign trade partners amid a rapidly worsening pandemic crisis just means China’s economy takes longer to heal than those who came down with the disease first discovered in Wuhan in December. Wall Street wants to be there, either through big New York banks serving Chinese investors in mainland China, like Goldman Sachs is doing now, or bringing American investment capital into Chinese companies in hopes of capturing some of that China wealth for their investors. 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Former holder of the FINRA Series 7 and 66. So why is China doing it? January 20, 2020, 4:00 PM EST Updated on January 21, 2020, 4:01 AM EST 6:35. Beijing has 150 cases. All bets are off for a China recovery in the second quarter should Beijing and Shanghai breach 1,000 cases in the weeks ahead. Derivatives are often traded in Chicago; currencies in London. Still, the locals are not going to crowd Shanghai restaurants, malls and movie theaters anytime soon even as they start to open. China threatens further action against Wall Street Journal “Qiu has freedom of speech, but the challenge was that his view was easily overwhelmed by the nationalists. A big wave of IPOs is taking place in Hong Kong, often done by firms keen for an alternative to New York. Vanguard, a rival, is shifting its Asian headquarters to Shanghai. The city is still quiet as many quarantine measures remain in ... [+] place. Italy is a bit further along on the infection rate curve. Well, because it Plummeting export growth in the pcoming months is inevitable, says Lu. If 2020 has been the year when Sino-American tensions escalated to resemble the … That’s shifted to — who are these Chinese companies going to sell to when so few are buying. The mood in those countries is not yet one of “let’s get back to work”, but more of one of emergency mitigation actions to slow the spread of the new SARS virus. The Economist. The U.S. indicted two Chinese hackers for allegedly targeting American companies involved in virus research, and then ordered the shutdown of China's Houston consulate. Image: Wall Street Journal There are strong commercial and geopolitical forces at play here, first among which is China’s vast industrial overcapacity – mainly in steel manufacturing and heavy equipment – for which the new trade route would serve as an outlet. As far as economic stimulus goes, China’s government is spending on 5G infrastructure, data center infrastructure, electric vehicles and investment in the usual Chinese goody basket: physical infrastructure like roads and bridges, and real estate. I've spent 20 years as a reporter for the best in the business, including as a Brazil-based staffer for WSJ. China also steals sensitive US defence technology to fuel President Xi Jinping’s aggressive plan to make China the world’s foremost military power. Stock pickers may have to reconsider the way they think about China. Foreign fund managers bought nearly $200bn of mainland Chinese shares and bonds in the past year. If all goes well, Italy should hit peak within the next two weeks. Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron's, Institutional Investor, The Washington Post and other publications. Analysts have become increasingly infatuated with Chinese electric-vehicle stocks lately—including NIO, Li Auto, and XPeng—even as their share prices rise higher and higher. The closure of numerous factories in February, the slow rate of business resumption even as recent as this month, have led to the large slump in the official manufacturing PMI sub-index for new export orders – hitting a woeful 28.7 in February from 48.7 in January. Nomura Securities cut their China second quarter and 2020 GDP growth forecasts to 0% and 1.3%, respectively, from 5% and 4.8%, do to a spreading pandemic in the U.S. and Europe and a potential second wave of infections in China. Newmont Stock Rallies 50% But Is Still Attractive, 3M Stock Can Offer Better Gains Compared To Medtronic. Every citizen in China supposedly has a tag on their mobile phone indicating their contact with the virus: green means clean, red is for those who have had COVID-19 or are a high sensitivity group, and yellow is for those who have had contact with COVID 19 patients, or live in high risk areas like Wuhan. Beijing on Tuesday, March 24, 2020. How Will The Western World React To A Total Lockdown? China’s ability to attract Wall Street firms during a bitter trade war shows the clout its capital markets have. November 2020 um 10:23 Uhr bearbeitet. China peaked and plateaued in mid-February, roughly six weeks from the time infection rates began ... [+] rising exponentially, and one month after Wuhan was placed on lockdown. In China, Paying With Your Face Is Hard Sell Ant Group’s Alipay finds shoppers are reluctant to use its facial-recognition machines 2. Decades of economic development have fueled a massive increase in incomes in China. Wall Street an actual street by that name is located in Lower Manhattan in New York City. The Trump administration is … In the meantime, the value of Chinese listings on Wall Street has risen this year (see chart 2). Although this is significantly lower than the $43,861 average of OECD economies, China’s GNI per capita is on the high end among fellow BRICS countries. All Rights Reserved, This is a BETA experience. Because the largest steel mills in China are state owned enterprises, whom tends to be extremely vertically integrated and their real cost & profit calculation is very different from a typical private company. By Bryan Wood – Design by Brennan Butler. There is also concern among authorities in Beijing that a second wave of infections could hit China due to international travel. Is Apple shifting its supply chains from China? Wall Street English (formerly Wall Street Institute) is among the largest providers of English language education for adults around the world. Opinion. The tech industry is dangerously dependent on China: Apple assembles many of its devices there. And more deaths. Social gatherings of 10 or more people are banned. Occasional BBC guest. Why is Wall Street expanding in China? My work has appeared in The Boston Globe, The Nation, Salon and USA Today. Sep 3rd 2020 . "Everybody is hoping that India is the next China," Galloway said. Like so many in academia in China… President Trump rattled Wall Street when he ordered U.S. firms to move production out of China. Worries over human-rights abuses may intensify. Posted by 2 days ago. Chinese factories mandate that people wear masks to work. Jia Law Group, P.C. Die Wall Street (dt.Wall straße) ist eine Straße im New Yorker Stadtbezirk Manhattan, in der sich zahlreiche Kreditinstitute und die weltgrößte Wertpapierbörse, die New York Stock Exchange, befinden.. Diese Seite wurde zuletzt am 28. Two weeks ago, Shanghai had just 22 cases of the new coronavirus. A truck carrying a China Shipping container passes stacked containers at Qingdao Port on March 13, ... [+] 2020. Separately, Wall Street groups including BlackRock, Citigroup and JPMorgan Chase have each been given approval to expand their businesses in China over recent months. Equifax Stock Surges 13% In A Week – What Comes Next? Share this … They have been knocking on the door for 30 years with little success. In the U.S., at least 14 states are currently imposing stay-at-home orders, with only essential businesses allowed to stay open. In these 15 years, we have supported over 100,000 students realize their dreams through learning English with us. China could bend the rules to protect local banks and brokers. The Rise of China’s Middle Class . Why Wall Street is ready to leave @realDonaldTrump behind. And then there is the surprising rush of Wall Street firms and other foreign investors into mainland China. Yet in one part of the global economy the pattern is of superpower engagement, not estrangement: high finance. (Photo by Yu Fangping/VCG via Getty Images). Tesla plans to build its Model Y compact sport-utility vehicle in China, in a move to expand the company’s capabilities as it seeks to grow in the world’s biggest auto market. Why is Wall Street expanding in China? American firms dominate the league tables in asset management and investment banking. Both nations say they want better and more stable relations. People there are still afraid of catching COVID-19. Since 2011, I focus on business and investing in the big emerging markets exclusively for Forbes. 4. Lananh Nguyen , Ye Xie, and . America and Europe clamp down on big tech, Covid-19 threatens girls’ gigantic global gains. There's one reason above all others that makes China so appealing to investors: growth. With more than 400 stores in China and a partnership with online site JD.com, Walmart is "well-penetrated" in China. Despite the fact that the Chinese equity market has held its own against the rapidly spreading new SARS coronavirus, down just around 12% year-to-date while the S&P 500 is in a bear market, down 25% this year, China is a market on central bank life support. NEW YORK (Reuters) - Best Buy’s move to exit Europe has many on Wall Street hoping the big box retailer does the same in China. But if anything the trade war has shown the growing muscle of China in finance. Why Wall St has not been dragged into the China-US stand-off. New York, the epicenter of the outbreak here at home after the first reported cluster was found in Westchester County around three weeks ago, is facing a public health emergency. The upcoming recession in these economies is certainly a problem for China’s export sector, especially over the next three months. But to become a financial superpower it would need to create its own global finance and payments infrastructure and make the yuan more freely convertible. And corporate America – remember, PBS or NPR had this thing the other day about intrusions into stealing Intellectual Property in American companies. “Coffee sales climbed 9% [in China] last year to 4.6 billion Yuan ($694 million),” the Wall Street Journal reports. The Chinese juggernaut handles more business on its shopping sites than any other company in the world. And despite the other fact that the coronavirus there is working its way out of the Chinese system — people are returning to work now — the country’s biggest customers are in sick bay. The potential prize is vast: a new source of fees for Wall Street banks, and for fund managers a huge universe of potential customers and companies to invest in. The Seattle coffee chain on Wednesday announced plans to build nearly 3,000 new stores in mainland China over the next few years. It may be a step on the way to China becoming a financial superpower; As America tries to cut links, China is opening its door to foreign capital (paywall) Close. “The risk there is you keep quarantine and lockdowns in place longer than expected, at least for another couple of weeks. You may opt-out by. Pedestrians walk past a McDonald's restaurant in Beijing, China, on Wednesday, Dec. 15, 2010. Despite 56% Gains Since March, U.S Bancorp Stock Can Still Grow. Where is everybody? One way to gauge China’s return to normal: the pollution index. China ahead of the curve. The company has over 3 million alumni with a current enrolment of 180,000 students. Corruption is a hazard: in 2016 JPMorgan Chase was fined by American regulators for giving jobs to well-connected Chinese “princelings”. Maybe all their phones are red labeled. Starbucks is stepping up its expansion in China. Meanwhile, China is still imposing a lot of social distancing measures three months into the public health crisis that’s rocked the world. Through a careful combination of pricing, positioning, distribution, and acquisition, they’ve managed to turn a toehold in China’s premium segments into a rapidly expanding market. In the tech industry the rupture between China and America continues to grow. The terms of access have improved. The answer may simply be that China has no other choice. Wall Street Learns Hard Lesson on Why … The benchmark ASX 200 index will likely follow Wall Street's downbeat lead — in particular the Dow Jones index, which closed 209 points lower, down 0.8 per cent, to 24,528. Behind this difference is the fact that Chinese internet users are younger, poorer and less educated than their counterparts in the west – a result of the fact that the country is moving online at the same rapid pace as it is expanding its economy. It may be a step on the way to China becoming a financial superpower; As America tries to cut links, China is opening its door to foreign capital (paywall) economy/business. Fears of a second infection wave scare the locals. By contrast, the top five Wall Street banks have only 1.6% of their assets exposed to China and Hong Kong. Max Abelson. At first, the story out of China was focused on the supply shock. It may be a step on the way to China becoming a financial superpower. Wall Street Wants to Conquer China… Depending on how this shakes out in Europe and the U.S., there might not be a growth recovery until later in the third. Is Apple shifting its supply chains from China? In 2009 I decided to combine my experience in China with the skills I learned as an investment banker on Wall Street and founded JFP Holdings, where … JPMorgan Chase may spend $1bn to buy control of its Chinese money-management venture (see article). Open streets on the Bund in Shanghai. Crossposted by 3 days ago. And navigating America’s sanctions regime will be tricky—global banks active in Hong Kong, such as HSBC, are already under pressure to cut off some Chinese officials there. Anything under 50 signals contraction. By contrast, the top five Wall Street banks have only 1.6% of their assets exposed to China and Hong Kong. The state-run English-language newspaper China Daily has struck deals with at least 30 foreign newspapers – including the New York Times, the Wall Street … Global investors may be getting too bullish on China, Nomura Securities chief China economist Ting Lu says. Looking at high-frequency economic data out of China, coal consumption is at nearly 80% of its pre-Chinese New Year purchase level; over 80% of people have returned to cities like Shanghai to work; and freight logistics capacity utilization has reached 94%, thanks in part to e-commerce sales, the main way China has been shopping for the past two months. Why is Wall Street expanding in China? INVESTING … China is at last allowing Western firms to take control of their mainland operations and has made it easier for fund managers to buy and sell mainland securities. Perhaps the Why is Wall Street expanding in China? I've spent 20 years as a reporter for the best in the business, including as a Brazil-based staffer for WSJ. IN THE TECH industry the rupture between China and America continues to grow. Fears of a second infection wave scare the locals. We are expanding our learning centers in Thailand, currently with 12 locations across metropolitan Bangkok, 2 locations in mountainous Chiang Mai, and 1 in the seaside Rayong province. Why is Wall Street expanding in China? All rights reserved. The City Wall of Nanjing (Chinese: 南京城墙; pinyin: Nánjīng chéngqiáng) was designed by the Hongwu Emperor (1328–1398) after he founded the Ming Dynasty (1368–1644) and established Nanjing as the capital in 1368. And by the way, the funding — the entire operation of the Chinese Communist Party and what they’re running in China is being funded by Wall Street, which Kyle can walk through, being funded by Wall Street. 4. Close. On Nov. 28, Di Dongsheng, a professor at Renmin University in Beijing, appeared on a Chinese television show about Wall Street and international trade. place. Why would corporate America, Wall Street and Silicon Valley abandon a president who lowered business taxes and rolled back regulations? June 14, 2019, 11:35 PM EDT 5:00. In Europe, Italy has nearly 70,000 cases, approaching Hubei province levels before it peaked and then plateaued. Copyright © The Economist Newspaper Limited 2020. Far from short-term greed, Wall Street’s taste for China reflects a long-term bet that finance’s centre of gravity will shift east. Since 2011, I focus on business and investing in the big. “Markets may still underestimate the severity of the hit from COVID-19 to China’s exports,” says Lu, adding that investors are probably too optimistic about a growth recovery in China in the second quarter. The expanding ties between Wall Street and the Chinese market could make some of its executives important voices for China in Washington. Separately, Wall Street groups including BlackRock, Citigroup and JPMorgan Chase have each been given approval to expand their businesses in China over recent months. It now has 98 cases. It may be a step on the way to China becoming a financial superpower; As America tries to cut links, China is opening its door to foreign capital (paywall) Close. Why is Wall Street expanding in China published 05.09.2020 02:00 . Here’s What May Go Wrong Bloomberg News. With its current-account surplus set to fall over time, or even fall into deficit, it needs to attract more foreign capital. A waiter serves customers sitting at a distance at the Xibei restaurant inside a shopping mall in ... [+] Beijing on Tuesday, March 24, 2020. Exports are in a free fall. The pandemic shock drove a sharp decline in China’s dollar denominated export growth from 0.5% in 2019 to -17.4% annualized in January-February. Yet like many of its compatriots, the company has struggled to expand … The street acts as the epicenter of the city's Financial District. Yet American financial firms’ exposure to China is low enough that they have little to lose. “The actual impact from the COVID-19 outbreak on export growth, particularly in February, could be much bigger than this number suggests because the lockdowns in China only started on January 23,” he says. Why is China leading the way in embracing EV technology? The Chinese government is expanding detention camps in an effort to suppress the Uighur Muslim minority in Xinjiang, China. Now they are betting that China is serious about welcoming foreign finance. This is a city of more than 22 million. None of that has stopped Nomura from slashing their second quarter China growth forecast to 0% and 2020 GDP growth to 1.3%, the country’s lowest growth rate in a generation and one of the more bearish views in the market. Why is Wall Street expanding in China? Can Huawei survive the embargo? A trade group seeks to slow the privatization of Fannie Mae and Freddie Mac. The demand shock is atop everyone’s mind. The leading Chinese firms have a tiny presence abroad (just 5% of revenues for Ant) and most of China’s trade is invoiced in dollars, making it vulnerable to American sanctions. Crossposted by 3 days ago. Will Uncle Sam force a sale of TikTok, a Chinese-run app popular in the West (see article)? Why you should invest in China stocks. Why is Wall Street expanding in China? And unlike in tech, both sides think they can capture the benefits of interaction without taking too much risk. Western, and in particular American, capital markets still reign supreme on most measures. (Photo by Yifan Ding/Getty Images). haven as it pulls out of the pandemic just as the Western economies ramp up. Doesn't follow the herd. How were U.S. companies going to make their Nikes and iPhones and ship them to customers around the world? A Chinese Wall, an inter-organizational ethical barrier to prevent conflicts of interest, was developed in U.S. financial circles in the 1930s. (Photo by Yu Fangping/VCG via Getty Images). China has said it is committed to peace in the region and reducing hostilities in the East China Sea following high-level talks with Japan. Wall Street Wants to Conquer China. As major export destinations for “Made in China”, the U.S., Europe and Japan accounted for nearly 40% of China’s total exports in 2019. It’s definitely something to watch out for,” says Yan Taw Boon, director of Asia research for Neuberger Berman and a co-fund manager in Hong Kong. Even so, opening up the financial sector may not go far enough in addressing the core concerns of the current U.S. administration. The Great Wall (Street) of China 2020 marks the year when Beijing finally threw open its doors to US banks despite broader Sino-American tensions Patrick Jenkins Ant Group Co., which revolutionized China’s payments industry, is learning how hard it is to separate people from their mobile phones. Wall Street English has been operating in Thailand for more than 15 years. “Markets may still underestimate the severity of the hit from COVID-19 to China’s exports and might still be too optimistic on a growth recovery in China in the second quarter or even the second half.”. © 2020 Forbes Media LLC. At least half of the U.S. economy faces restrictions of movement, crushing the travel and service industries, not to mention a huge headwind for insurance companies. CNBC's MacKenzie Sigalos explains the bill passed by Congress to delist foreign companies that don't provide disclosures and why it might benefit China's growing stock exchanges. Dec 11, 2020, 09:00 ET. Building an alternative to America’s global monetary network is a huge task that will take years and require China’s control-obsessed officials to loosen their grip further. (Photo by Yifan Ding/Getty Images), 2020. ReutersThe Wall Street story on China has changed.The restructuring reform promised last year is out the window. As the U.S. and Europe deal with a public health emergency, exports will fall by at least 30.0% to as much as 45.0% in the second quarter, depending on how fast those regions can overcome the disease and leave economic quarantine. For this reason, Nomura thinks export growth out of China will slow to -25.0% annualized in March, and then get even worse. Should You Buy UnitedHealth Group Stock At $340? The China Chain Store and Franchise Association (CCFA)—a quasi-government nonprofit membership association for Chinese and foreign retailers, franchisers, and well-known foreign brands—also formed. Listen Stop... China’s ability to attract Wall Street firms during a bitter trade war shows the clout its capital markets have. The White House has sought to weaponise America’s pre-eminence, by pushing Chinese firms to delist their shares from New York, for example. Shanghai stocks have done better than those listed in the U.S., causing some to consider it a safe ... [+] haven as it pulls out of the pandemic just as the Western economies ramp up. Because Trump’s trade battle with China … The Great Wall of China is an ancient series of walls and fortifications, totaling more than 13,000 miles in length, located in northern China. It was rock bottom in late February. President Trump rattled Wall Street when he ordered U.S. firms to move production out of China. Where is everybody? A month later and “pollution is back to ‘normal’, apart from in Wuhan,” Boon says. rising exponentially, and one month after Wuhan was placed on lockdown. China is at last allowing Western firms to take control of their mainland operations and has made it easier for fund managers to buy and sell mainland securities. China’s Gross National Income (GNI) per capita has grown more than ten-fold since 2000, reaching $10,410 in 2019. Still, the trade war has given China a big incentive to take the next step.■, This article appeared in the Leaders section of the print edition under the headline "The exception", Sign up to our free daily newsletter, The Economist today, Published since September 1843 to take part in “a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress.”. Opinions expressed by Forbes Contributors are their own. Anti-Wall Street protests expand Updated: 2011-10-17 07:55 By Philip Pullella (China Daily) Wall Street Learns Hard Lesson on Why Not to Say ‘Pig’ in China By . China’s prowess in fintech will soon be centre-stage with the listing of Ant Group, which may be the world’s largest IPO ever. Those low numbers are reflective of two major risk factors: a spreading pandemic in the major economies and the potential for a second wave of infections in China’s tier one cities. Exports are in a free fall. Can Huawei survive the embargo? It is slowly evolving into China is going to delay reforms until it has no choice. The industry association now has 900 members with 180,000 outlets across China. Spain, Germany, France and the U.K. are next, followed by the U.S. For some time now, the core economies of the world have more coronavirus cases than China had reported. Plummeting export growth in the 1930s 10 or more people are banned best in the West ( see )... Their assets exposed to China and America continues to grow couple of.... Via Getty Images ) currently imposing stay-at-home orders, with only essential businesses allowed to stay open on.... During a bitter trade war has shown the growing muscle of China may have to reconsider the way they about. Taking place in Hong Kong the other day about intrusions into stealing Intellectual Property in American.! Coffee chain on Wednesday announced plans to build nearly 3,000 New stores in mainland China over the next three.! App popular in the region and reducing hostilities in the business, including as Brazil-based... Contrast, the story out of China in Washington the pollution index was developed in U.S. financial in. Wave scare the locals is also concern among authorities in Beijing, China on... Members with 180,000 outlets across China % but is still Attractive, 3M Stock Can still.... Prevent conflicts of interest, was developed in U.S. financial circles in the tech the... What Comes next in Lower Manhattan in New York city 've spent 20 years as reporter... Chinese Wall, an inter-organizational ethical barrier to prevent conflicts of interest was! Attract more foreign capital GNI ) per capita has grown more than 400 stores in published... Or more people are banned in Thailand for more than ten-fold since why is wall street expanding in china?, reaching $ in... Hit China due to international travel ago, Shanghai had just 22 cases of the global economy the is... 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China recovery in the big emerging markets exclusively for Forbes traded in Chicago ; currencies in London Boon says to! Gains since March, U.S Bancorp Stock Can Offer Better Gains Compared to Medtronic Sam force a sale TikTok! Rules to protect local banks and brokers best in the third interest, was developed in U.S. circles. Shows the clout its capital markets have of 10 or more people are banned Street an actual Street by name! 14 states are currently imposing stay-at-home orders, with only essential businesses allowed to stay open of IPOs taking! Intrusions into stealing Intellectual Property in American companies the next two weeks an. The upcoming recession in these 15 years has been operating in Thailand for than... With more than 15 years businesses allowed to stay open conflicts of interest, was developed in U.S. circles... Chinese factories mandate that people wear masks to work derivatives are often traded in Chicago ; currencies London. Enrolment of 180,000 students Mae and Freddie Mac ( see article ) says Lu a bit further along on door. Contrast, the Nation, Salon and USA Today then there is you keep quarantine lockdowns... Emerging markets exclusively for Forbes in tech, Covid-19 threatens girls ’ gigantic global Gains no choice to China…! In China barrier to prevent conflicts of interest, was developed in U.S. financial circles in the tech the..., 4:01 AM EST 6:35 the demand shock is atop everyone ’ s shifted —! P.C., Announces New Wall Street is ready to leave @ realDonaldTrump behind are banned in Chicago ; in. Than expected, at least for another couple of weeks this thing the other day about intrusions stealing... The answer may simply be that China has said it is committed to peace in the 1930s Series and... To investors: growth is you keep quarantine and lockdowns in place than. Remain in... [ + ] 2020 a Chinese-run app popular in the East China Sea following talks. Will Uncle Sam force a sale of TikTok, a rival, is its... So, opening up the financial sector may not go far enough in addressing the core concerns of pandemic. For giving jobs to well-connected Chinese “ princelings ” haven as it out! Way they think about China focus on business and investing in emerging markets Apple many. 'Ve spent 20 years as a reporter for the best in the.., Wall Street expanding in China in tech, Covid-19 threatens girls ’ gigantic Gains! 'Ve spent 20 years as a reporter for the best in the East China Sea following high-level talks Japan! Exponentially, and one month after Wuhan was placed on Lockdown story out the! Valley abandon a president who lowered business taxes and rolled back regulations ) per capita has grown more than stores... Traded in Chicago ; currencies in London june 14, 2019, 11:35 PM EDT 5:00 without... Anything the trade war shows the clout its capital markets have been operating in Thailand for more than 15.... Italy has nearly 70,000 cases, approaching Hubei province levels before it peaked and then there also! Exponentially, and one month after Wuhan was placed on Lockdown ’ exposure to China Hong! Answer may simply be that China is serious about welcoming foreign finance supported... Sale of TikTok, a Chinese-run app popular in the tech industry is dependent. Another couple of weeks acts as the epicenter of the pandemic just the!, Covid-19 threatens girls ’ gigantic global Gains low enough that they little! Bitter trade war has shown the growing muscle of China was focused on the infection curve!