His Excellency Joko Widodo, President of the Republic of Indonesia, to officiate opening of theForbes Global CEO Conference 2016 Wang Jianlin receives the Malcolm S. Forbes Lifetime Achievement Award JAKARTA (November 29, 2016) – The 16th annual Forbes Global CEO Conference officially opens today in Jakarta, gathering some 400 of the [...]
U.S.-China trade benefits most Americans, but nevertheless becomes a political issue every presidential election. Four years ago Barack Obama and Mitt Romney went to the airwaves in Ohio essentially accusing each other of being economic traitors. The reelected Obama then said little more about the issue. The process recurred this year. Donald Trump pledged to "get rid of" the trade deficit with China "fairly quickly." He advocated a 45 percent tariff on Chinese imports. It's an awful idea which would act like a tax on American consumers, hurting those of modest means the most. U.S. business, too, would suffer: raise the price of steel and auto exports become less affordable at home and competitive abroad. Such a tariff also would violate international trade rules and ignite a trade war. Hillary Clinton responded by abandoning her prior support for free trade. For instance, she backed away from the Trans-Pacific Partnership, which she helped negotiate as secretary of state. That would empower Beijing--excluded from the TPP--which has been promoting a number of free trade agreements in the region. Washington would leave American businesses looking at the Asian market from the outside. The economics of trade is badly misunderstood. The trade deficit is an accounting fiction, derived from counting private purchases and sales. Money spent overseas doesn't disappear. If it did, we would be receiving goods and services for free. Such a deal! Who would complain if the People's Republic of China was giving away iPhones and computers? Instead, Chinese exporters accumulate dollars to use. The PRC currently is the third largest buyer of U.S. exports, $116 billion in goods and $45 billion in services last year. Chinese consumers don't buy more because the PRC remains a poor nation, but private consumption is rising faster than in the U.S. McKinsey & Co. figures there will be about 630 million middle class households within six years. China might eventually live up to its economic promise: the U.S.-China Economic and Security Review Commission concluded that China's "focus on services and technology may create one of the world's largest consumer markets, generating up to $6 trillion of new market opportunities" for American firms. When not spent on stuff, American dollars typically are invested. A lot of wealthy Chinese have a lot of money to place. Shanghai's equivalent of the Forbes billionaire list reports 594 Chinese billionaires, more than in America, "only" 535. Wang Jianlin, a real estate mogul, tops the list. His business, Dalian Wanda Group, has purchased Legendary Pictures and agreed to an "open-ended investment partnership" with Sony Pictures. As of 2014 the PRC owned $1.24 trillion in federal debt, Chinese buyers are helpfully holding down interest rates on federal debt. And far from gaining a weapon for use against Washington, Beijing has become a hostage to American economic policies. What greater irony than for China to send U.S. dollars back to the U.S.? Even better, Chinese individuals and companies increasingly invest in American firms. Five years ago PRC investment ran just $5 billion. In 2015 it was about $15 billion. This year the total is expected to end up around $30 billion. At the beginning of 2016 there were more than 1900 Chinese-affiliated firms in America employing about 90,000 people. Chinese investment is win-win: U.S. businesses which attract foreign investment are more likely to expand, add employees, and earn greater profits. Retiring seniors also gain. A recent report from the National Committee on U.S.-China Relations and Rhodium Group explained: "When a Chinese company pays top dollar to acquire a public U.S. company, the U.S. company's shareholders generally receive cash in excess of the stock price. Given that the largest owners of U.S. stocks are American pension funds and households, it follows that the purchase benefits accrue primarily to American retirees and households." Obviously some potential investments raise security concerns, and proposed deals must pass muster with the Committee on Foreign Investment in the United States. Nevertheless, the more money China pours into the U.S. economy, the better. The two governments have pledged to streamline the investment review process, limiting it to cases of genuine national security. Moreover, they are to accelerate negotiation on a bilateral investment treaty, which should create a better legal framework. Irrespective of what Beijing does, Washington should streamline regulations which unnecessarily impede such investment. In particular, politicians who contend that Chinese consumers don't buy enough U.S. products should not interfere with offers by Chinese investors to put their money into the American economy. Despite the sometimes scathing criticism of trade this past presidential election, international commerce is good--both imports and exports. So, too, foreign investment in America. Policymakers should resist the Sirens of protectionism and welcome business with the rest of the world. That means not just not barring foreign products. Government also must create a legal and political framework receptive to international commerce. If Americans want the world to welcome their products and money, they must in turn accept the same from other nations. This article was first posted to Forbes online. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
Top business leaders from Greater China and around the world will be on hand when the Forbes Global CEO Conference kicks off for the 16thtime on Tuesday. The conference, to be held in Jakarta, comes against the backdrop of new political leadership in the United States after the election of businessman [...]
Famous Chinese director Feng Xiaogang has accused China's richest man Wang Jianlin of underplaying his new film in the latter's cinema chain.
Dalian Wanda Group, the main holding company of China billionaire Wang Jianlin, has bought Dick Clark Productions for approximately $1 billion, marking Wanda's entry into the television production industry and expanding its global footprint in the entertainment field. Dick Clark Productions possesses more than 20annualTV shows, including the Golden Globe Awards, [...]
Here’s the complete 2016 Forbes China Rich List unveiled on Thursday: (Rank, Name, Main Company, Wealth Estimate) 1. Wang Jianlin, Wanda Group, Beijing, $33 billion 2. Ma Jack, Alibaba Group, Hangzhou, $28.2 billion 3. Ma Huateng, Tencent, Shenzhen, $24.5 billion 4. Wang Wei, SF Holdings, Shenzhen, $18.5 billion 5. William Ding, NetEase, Guangzhou, $15.2 billion 6. Wang [...]
Record 400 billionaires and billionaire families make the cut SINGAPORE AND SHANGHAI (October 27, 2016) – Wang Jianlin, Chairman of Dalian Wanda Group, retains the No. 1 spot on the 2016 Forbes China Rich List as his net worth rose to US$33 billion from $30 billion last year. Wang is [...]
Глава Dalian Wanda Group Ван Цзяньлинь посетил шанхайский "Диснейленд", что можно рассматривать как знак примирения. Об этом информирует Bloomberg. Ранее сообщалось, что китайский конгломерат Wanda начал "войну" против ...
The 2016 Forbes list of China’s 400 Richest identifies a record 400 billionaires and billionaire families from mainland China. That’s a big increase from 335 a year ago.
Ван Цзяньлинь, Ма Юнь и Ма Хуатэн входят в первую тройку в рейтинге самых богатых людей Китая за 2016 год от Руперта Хугверфа
Председатель Ван Цзяньлинь со своей семьей обладает состоянием в 215 млрд. юаней, он уже трижды становился самым богатым человеком в Китае.
Спросите в Китае. Личный джет китайского миллиардера Вань Цзяньлиня, 61-летнего председателя «Чайна Далянь Ванда Гроуп», бурно растущей компании по управлению коммерческой недвижимостью, приземлился в калифорнийском аэропорту «Ван Найс» вечером минувшей...
Billionaire Wang Jianlin, chairman and president of Dalian Wanda Group Co., speaks during an event in Los Angeles, California, U.S., on Monday, Oct. 17, 2016. Wang unveiled subsidies worth more than $150 million a year to lure film makers to his new studio complex in China's coastal city of Qingdao. [...]
Крупнейшая китайская компания Dalian Wanda богатейшего бизнесмена Китая Ван Цзяньлиня (№18 в глобальном рейтинге миллиардеров Forbes, состояние $28,7 млрд) совместно с властями...
LOS ANGELES, Oct 17 (Reuters) - China's richest man, on a buying spree in Hollywood, urged U.S. filmmakers to work more closely with the Asian country as he unveiled a subsidy meant to lure productions to his multi-billion dollar studio in the eastern Chinese city of Qingdao.
В Китае живет больше долларовых миллиардеров, чем в США, причем разрыв между странами увеличивается. Об этом свидетельствует рейтинг China Rich List шанхайского исследовательского института Hurun, передает Интерфакс-Украина. В настоящее время состояние более миллиарда долларов в […]
В Китае живет больше долларовых миллиардеров, чем в США, причем разрыв между странами увеличивается, свидетельствует рейтинг China Rich List шанхайского исследовательского института Hurun. В настоящее время состояние более $1 млрд в КНР имеют 594 человека против 535 в США. В Гонконге, Тайване и Макао проживают 94 китайских миллиардера, в других странах — еще 66.
Китайский конгломерат Dalian Wanda Group, принадлежащий самому богатому человеку Китая Ван Цзяньлиню, достиг предварительного соглашения с властями индийского штата Харьяна об инвестировании $10 млрд в строительство промышленной зоны в штате, сообщает агентство Bloomberg.