Amb. Kurt Tong, Managing Partner of The Asia Group, joined CNBC’s flagship show Squawk Box for a wide-ranging interview to share his insights on the President Biden’s new China-focused AI chip ban and Japan’s reaction to the high-profile Nippon-U.S. Steel deal.
Xi seems to believe that financial services have imposed a significant cost on China’s development through the high fees that bankers charge, while not contributing much to society, said Han Lin, China head of The Asia Group, a business advisory firm, and a former deputy general manager of Wells Fargo’s China arm. In the future,
“Unfortunately, client names randomly appearing on blacklists is becoming a more common feature of banking these days, and that adds risk,” said Han Shen Lin, China country director for US consultancy The Asia Group. “The most banks can do is reposition their business and client mix accordingly.” Inclusion on the list “doesn’t carry the same
In anticipation of the uncertainties of Trump’s transactional approach to U.S.-China relations, Beijing has tried to warm diplomatic relationships and smooth over trade disputes with non-U.S. trade partners.
China’s Geopolitical Posturing for a Second Trump Term Read More »
Han Shen Lin, China country director at The Asia Group said that “In the short-term, the risk of Chinese banks being sanctioned by the U.S. Treasury has dipped as the incoming administration appears less concerned about Russia. But in the long-term the risk may be higher that bank sanctions could be used as leverage by
(Start: 3:15) In the staid world of China policy language, “more proactive fiscal” measures and “moderate loosening of monetary” policy were traffic-stopping statements that signaled greater support even as details are pending, said Han Shen Lin, China Country Director, The Asia Group.
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced on December 2 updates to export controls that limit China’s access to advanced semiconductors and semiconductor manufacturing equipment in order to slow China’s military modernization and use of advanced technologies that enable human rights abuses. These rules are the Biden administration’s third major update in three years and are expected to serve as the final update before a change of administration.
“China is better prepared now than during Trump 1.0,” Lin told RFA. “It has a wider range of carrot-and-stick trade responses, but the ever-present need for foreign investment may calibrate their behavior to send a message of strength without unnecessary escalation.”
The slowdown of capital controls loosening has been a “primary detriment to China and to Shanghai being an international financial center in the conventional sense,” said Han Lin, China Country Director, The Asia Group. “But capital controls are ultimately a matter of national security to Beijing.”
(Start on Minute: 16:55) “Water shortages affect Chinese agriculture and pose risks to its drive toward food security by increasing the need for imports at a time when China is trying to become more food self-sufficient. It’s no coincidence that China’s richest man sells water.” says Han Lin, China Country Director, The Asia Group.
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