China wants to kill off — or possibly revive — its lurching horde of "zombie" companies by 2020, Caixin's Dong Jing and Leng Cheng write.
Zombie company is a term used to describe an unprofitable enterprise that would go out of business without ongoing bank loans or government support. In early 2016, the state-owned Assets Supervision and Administration Commission said there were 2,041 such companies. The central government has given local governments three months to submit a list of zombies. They have to be restructured or disposed of by 2020.
President Trump is staying the course on North Korea despite the lack of any tangible progress toward denuclearization, canceling another round of military exercises with South Korea and moving ahead with plans for a second summit with Kim Jong-un in the new year.
Where things stand: Van Jackson, a former Pentagon strategist and author of the new book "On the Brink: Trump, Kim, and the Threat of Nuclear War," contends there is a “close to 0% chance” of denuclearization while Trump is president, and the situation remains “as dangerous or more dangerous” than it was last year.
The global public has unfavorable opinions of Russia and President Vladimir Putin, but the country is still rising and becoming a world power, reports Clark Letterman of Pew Research Center citing data from a poll of 25 countries.
By the numbers: A median of 34% of people around the globe view Russia favorably and just 26% of those polled have confidence in Putin to "do the right thing in world affairs," with more unfavorable opinions belonging to those in the West. However, four countries showed favorable views of the country — the Philippines, Tunisia, South Korea and Greece — with "at least half have a positive view of Russia." Overall, 42% of participants in the poll said Russia plays a more important role in the world today as they did 10 years ago.
December will be a busy month for Xi and the PRC leadership.
What's happening: The annual Central Economic Work Conference, which sets the agenda for the next year's economic policies, is likely to convene next week. But the big event will be a major meeting to celebrate the 40th anniversary of the "Reform & Opening" policy that started at the 3rd Plenum of the 11th Party Congress on Dec. 18–22, 1978. I believe that meeting may be on the exact 40th anniversary of that famous 3rd Plenum and will see a big speech by Xi and a noteworthy propaganda and theoretical blitz.
