China’s sprawling Belt and Road initiative is set to give a shot in the arm for homegrown satellite services providers, which have been gaining competitiveness relative to their foreign counterparts in recent years.
Against the background of China-Africa industrial capacity cooperation, financing is the key to strengthening connections with African countries’ development strategies and facilitating the smooth launch of production capacity cooperation projects.
With the first round of the French presidential election taking place on Sunday, support for the far-left candidate Jean-Luc Melenchon has surged recently due to his good performance in the television debates. According to the latest polls, Melenchon’s popularity is close behind the far-right National Front’s Marine Le Pen and the centrist Emmanuel Macron.
The central government will consider development plans for the Guangdong-Hong Kong-Macao Greater Bay Area this year, Chinese Premier Li Keqiang said last week while granting the official certificate of appointment to Lam Cheng Yuet-ngor, the incoming chief executive of the Hong Kong Special Administrative Region (HKSAR). The statement was made not long after the bay area was included in this year’s government work report. To understand deeper issues relating to the bay area, Global Times reporter Li Qiaoyi (GT) talked to Zhou Linsheng (Zhou), vice president of the China Society of Economic Reform and president of the Guangdong Society of Economic Reform, in an exclusive interview earlier in April.
Discussions about globalization in the Chinese mainland are quite different from those in the US. In the mainland, the discussion basically focuses on the real economy or manufacturing. But big US companies already brought their manufacturing to other countries around the world several decades ago. In the US, the talk about globalization is mainly about finance, but it is rare to hear about financial globalization in China, and the difference is worth thinking about.
South Africa can help extend the cooperation between China and Africa given its capability in mobilizing funds and coordination.
In addition, Chinese SOEs that specialize in infrastructure can also help B&R route countries make up for their shortcomings in economic development.
First, with housing prices soaring so high in China’s first-tier cities, who are those homebuyers and what kind of speculative mentality do they have? Second, given the similarities between China’s housing market and Japan’s housing bubble before it crashed, could there be a China bubble burst around the corner?
US President Donald Trump once pledged to label China a currency manipulator and punish it with high tariffs. If it happens as many fear, China would retaliate against trade sanctions, which could escalate into a full-fledged trade war between the two countries. Yet, in my opinion, the possibility of such a trade war looks unlikely.
For China, as an emerging economy, how to play a role as a global public goods supplier and how to improve the global public goods supply system is crucial for its new globalization strategy.
As China is gaining strength, the country should play a bigger role in global issues, including refugee governance.
Given the high degree of interdependence and complementarities in Sino-US trade, no one wants to risk triggering a trade war and both countries should be cautious about introducing any policies that would increase that risk.
For China, in addition to bilateral trade, the meeting will be crucial in forming the country’s strategy for dealing with the US.
Working hand in hand with Finnish innovators, perhaps with the investment of Chinese capital, would help in China’s current drive to tackle problems such as climate change head on.
In the future, the AIIB will not only support construction projects along the route, but will also offer financial support for infrastructure construction on the regional and global level.
Hopefully, at the meeting Xi and Trump can push their countries to adopt a more positive attitude toward bilateral industry and trade cooperation.
China needs to take the opportunity in the reshaping of the global value chain to enhance the country’s industrial structure competitiveness so as to promote a new round of globalization.
The US, under the Trump administration, should seriously consider joining the Asian Infrastructure Investment Bank (AIIB). Why?