Moscow, June 11 — “News. Economy.” Investors seeking to learn about the steps China in a trade war, paying close attention to the editor of one of the state publications in the country, writes Bloomberg.
Photo: EPA-EFE/JUSTIN LANE
In recent weeks, editor in chief of Global Times Hu West capital used your Twitter account for accurate forecasting several steps Beijing: from the investigation in relation to the us logistics company FedEx to alert the government to students studying in the United States. The markets took notice, sending shares of Boeing Co. the minimum closing level in four months after one of the tweets.
“I have access to some information on the nature of my work, but I’m not authorized anyone to release it,’ said Hu in an interview with Bloomberg News in Beijing last week. — I’m not sure that Chinese officials deliberately passed information to me. We have officials with the tacit understanding.”
After the last round of talks ended in failure, which resulted in the increase in duties, Hu began to share the ominous hints of the next steps of China. May 13, he tweeted, that China may stop purchasing U.S. agricultural products, and energy, stating that local scientists also “discussed the possibility of disposal” of part of the reserves of US Treasury bonds.
As reported “Vesti. Economy”, Hu also wrote that China is planning to create a system of national security in the field of technology.
“From what I know, China is creating a control mechanism to protect key technologies [country]”, he said on Saturday on Twitter.
“This is an important step to improve its system, as well as a step to counter pressure from the US. When the [mechanism] will start to operate, exports of certain technologies in the US will be under control,” — said Hu.
On Wednesday, in an interview, Hu said that China “can take some action” against the import of services of the United States, if the President of the United States Donald trump will impose duties on all imports of Chinese goods. He also warned of “collateral damage” to such companies as Apple Inc. or Qualcomm Inc. if the trade conflict will continue to escalate.
How accurately tweets XY correspond to the official point of view, remains unclear, although it sometimes refers to “authoritative source” or people “close to the negotiations”. The Chinese authorities are probably considering editor of the Global Times as a useful channel for communication with foreign audiences. Tellingly, Hu does not share predictions regarding the official actions of Beijing with its much larger audience of 19 million subscribers for mainly Chinese-language platform Weibo.
Hu himself said that he wanted to explain the intentions of China, and not to affect the stock price.
“Now, when people said that my tweet had any impact on the market, I will be more careful, he said. — If my tweets create collateral damage and cause losses to American investors, this is not what I want. My biggest hope is to Express things more freely”.
Read more •••