Is China’s Era of High Growth Over?
Summary
Investors watch the annual gathering of the National People’s Congress, the country’s rubber-stamp parliament, and a parallel meeting of China’s top policy body, for clues on the government’s priorities. More state-led investment is the priority, rather than “other kinds of more politically painful reforms,” George Magnus, a research associate at Oxford University’s China Center and a former chief economist at UBS, told DealBook. It may also mean more pressure on private businesses to toe the party line, with even bankers being ordered to be more patriotic and develop a “financial culture with Chinese characteristics.” Donald Trump is expected to win big in Super Tuesday contests. The activist investor shared his white paper outlining his recommendations for turning around the media giant; among them are finding a partner for Disney’s broadcast TV assets and scrapping plans to introduce a new ESPN streaming service that would supersede ESPN+. Musk is wrestling with an investor exodus at Tesla, his electric vehicle maker, and the banks that lent him billions to buy Twitter two years ago have reportedly met with him to discuss refinancing the terms.