BIZ >> Expert assessment

China, US heightening influence on crude market

At a ministerial-level meeting in Abu Dhabi on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) and its oil-producing allies reaffirmed the compliance to the previous output reductions. OPEC+, a 14-nation cartel and a group of 10 allied countries, previously agreed to cut oil output by 1.2 million barrels per day (bpd) beginning early 2019.
Source: Global Times | 2019/9/16 19:43:40

Can Hong Kong's linked exchange rate system withstand shocks amid trade war?

With the yuan's rate breaching the psychologically important 7 threshold against the US dollar in August, the Hong Kong dollar's exchange rate has also been affected. Many market participants are worried about whether or not Hong Kong's financial market can maintain stability and if Hong Kong's linked exchange rate system can withstand the impact.
Source: Global Times | 2019/9/13 10:17:58

Patience required when India is one step away from its moon landing

The moon lander of India's Chandrayaan-2 plan was just 2.1 kilometers away from the lunar surface when it lost communication. Compared with the 380,000 kilometers between the Earth and the moon, this distance was so close that it was virtually one step away.
Source: Global Times | 2019/9/11 22:23:40

Reliance on mainland key for HK economy

Since the Chinese mainland's reform and opening-up began, it has received worldwide attention for its great achievements for which Hong Kong has played a valuable and irreplaceable role.
Source: Global Times | 2019/9/10 20:03:40

US needs to stop using tariffs at will

Tariffs are now becoming toys for US President Donald Trump. He always plays the “tariff card” when he feels bored, and he needs to because he is addicted to tariffs. Without tariffs, President Trump has no fun with himself and his team members.
Source: Global Times | 2019/9/9 19:33:41

Trump government needs to change course and stop the trade war with China

Following a ferocious rhetorical spat between Washington and Beijing over the past two months, the world's two major powers have agreed to hold high-level trade talks in the US in early October. The world has been watching aghast, concerned that the unprecedented-scale trade war will cause a global recession in 2020.
Source: Global Times | 2019/9/5 23:03:40

US unions cannot be overlooked by Chinese businesses

American Factory, a documentary backed by former US President Barack Obama and former first lady Michelle Obama, records the twists and turns that Chinese glass manufacturer Fuyao encountered while setting up a factory in Dayton, Ohio. In 2017, the New York Times reported on the cultural conflicts the Chinese company had encountered. Cao Dewang, the Chinese businessman who owns Fuyao, fired several American managers for being inefficient and not doing their jobs, while Americans said the Chinese management did not pay attention to safety and environmental protection.
Source: Global Times | 2019/9/4 21:43:40

China's real estate sector unlikely to weaken despite declining statistics

The decline of the home-buying fervor in China, as evidenced by some statistics, is not tantamount to a housing recession.
Source: Global Times | 2019/9/3 20:38:42

Chinese footwear companies should focus on market trends

Chinese shoe brand Fuguiniao was de-listed from the Hong Kong Stock Exchange in August. A draft of the company's reorganization plan was rejected by the court, its reorganization was terminated and the company has been declared bankrupt.
Source: Global Times | 2019/9/2 19:31:34

US foreign aid abandons moral cover amid rescission struggle

US President Donald Trump's recent plan to freeze $4 billion in foreign aid incited broad bipartisan backlash. The funding is actually unobligated, expiring balances from fiscal year 2018, and is supposed to go to the US Agency for International Development, UN peacekeeping activities, and UN humanitarian programs.
Source: Global Times | 2019/9/1 19:38:40

China needs new push to become global AI leader

China needs to stay coolheaded and push for technology-based innovation amid escalating trade tensions with the US. This seems especially the case in the arena of AI, which has increasingly become a two-man contest.
Source: Global Times | 2019/8/29 20:53:40

HK should get on technology fast track with mainland

At the end of July, Hong Kong installed 50 “smart lamp posts,” which have several features including a Bluetooth detector for traffic flow, a sensor for weather and an artificial intelligence, panoramic camera. The devices installed have triggered the concerns of some younger generations, who worry that their privacy may be invaded and monitored.
Source: Global Times | 2019/8/28 19:13:41

Western corporate governance outdated

Last week, a group of US business leaders, including chief executives of Apple, Pepsi, Walmart and JPMorgan Chase, held a Business Roundtable meeting before issuing a statement on “the purpose of a corporation.” To redefine the role of business in society, the statement said that a company should have a broader responsibility to society instead of caring only about shareholders' interests. The new statement was signed by more than 180 chief executive officers.
Source: Global Times | 2019/8/27 19:22:12

North Africa should look beyond differences to embrace BRI

North Africa should be considered as the next natural stage in the development of the Belt and Road Initiative (BRI).
Source: Global Times | 2019/8/26 19:53:40

World needs to prepare for return to gold standard as Washington disrupts financial order

The safe-haven property of gold has fully manifested in recent weeks. Spot gold hit $1,535.11 an ounce on August 13, the highest level since 2013.
Source: Global Times | 2019/8/25 21:08:39

China needs to be prepared to cope with Libra amid yuan internationalization

Facebook recently released a white paper for Libra, its newly created cryptocurrency, and co-founded the Libra Association. Given that Facebook already has over 2 billion monthly users, the launch of Libra will bring challenges to the current monetary system, macroeconomic management and financial supervision.
Source: Global Times | 2019/8/22 21:26:46

China pursues economic transformation while heading off possible global recession

Warning signals are flashing. In the US, the yield on the benchmark US 10-year Treasury note fell below the two-year rate, a bond market phenomenon that has historically heralded a brewing economic recession. And the US is not the only major economy facing a possible recession. Germany, the UK and Brazil are all seeing signs of trouble. Germany, the world's fifth-largest economy, just reported that its GDP shrank by 0.1 percent in the second quarter.
Source: Global Times | 2019/8/21 17:58:40

Key move in China's interest rate reform doesn't mark opening of floodgates

The People's Bank of China (PBC), China's central bank, has decided to improve the formation mechanism of the loan prime rate (LPR), which was launched in 2013. The rate reforms aim to lower the financing cost for businesses and promote a market-oriented interest rate. Many have painted it as another monetary easing measure under a different name.
Source: Global Times | 2019/8/20 21:03:41