BIZ >> Expert assessment

China's IT winter chill should help firms rethink business models

China's internet technology (IT) sector experienced massive layoffs during 2018, a chaotic year for the industry. In June, hundreds of P2P lenders fell like dominoes. Two months later, the revenue of image editing software developer Meitu fell 5.9 percent year-on-year, reporting a $127 million net loss. Media reported the company had been laying off people since the end of 2017. In the fall, online retailers Alibaba and JD.com reduced new hires.
Source: Global Times | 2019/1/8 18:28:39

US economic growth could lose momentum in 2019

There are compelling reasons to believe that the US economy is less likely to continue on a robust growth path this year. The US economy's strong growth in 2018 was mainly attributed to the Donald Trump administration's substantial tax cut package. Thanks to the stimulus provided by the tax cuts, personal consumption spending and private investment turned out to be the main forces pulling up economic growth.
Source: Global Times | 2019/1/8 16:38:41

China delivers a modern economy during 40 years of reform and opening-up

Editor's Note: At a gala celebrating the 40th anniversary of China's reform and opening-up on December 18, 10 foreigners received China Reform Friendship Medals, marking China's acknowledgement of contributions they made to help realize the country's remarkable progress. Stephen Perry (Perry), Chairman of the 48 Group Club, was one of the recipients. Global Times reporter Chen Qingqing (GT) recently had an interview with Perry, talking about his impressions and stories during the country's reform and opening-up.
Source: Global Times | 2019/1/7 20:52:00

Why PM Mahathir seeks to engage with China?

After his coalition won the election in May 2018, Malaysia's Prime Minister Mahathir Bin Mohamad declared that he would suspend several Chinese-funded projects.
Source: Global Times | 2019/1/7 18:38:39

US stock market faces more volatility in 2019

The US stock market has been extremely volatile during 2018. From December 4 to 24, the Dow Jones Industrial Average slumped 4,000 points within 15 trading days. In fact it has rather contradicted with the tradition that US stock market usually performs well in December. By Monday, Standard & Poor's 500 index (S&P 500) had accumulated a 14.8 percent drop in December, worse than the 14.5 percent losses within the 12 months of the 1931 collapse during the Great Depression.
Source: Global Times | 2019/1/6 16:13:39

De-dollarization inevitable as yuan's global status rises

The global economy and the trade governance system have shifted from an old model in which other economies were orbiting around the US toward a three-horse race – the US, EU and China – meaning that de-dollarization is inevitable. The global trade, production and consumption arena has become a three-way race among Asia, Europe and the US, but the international currency system has long been dominated by the US dollar, highlighting a mismatch between the real global economy and international currency system.
Source: Global Times | 2019/1/3 15:33:39

Myanmar to make utmost efforts to ensure security of CMEC

Since the beginning of 2018, the friendly ties between China and Myanmar have continued their steady progress, with the two nations deepening pragmatic cooperation in a variety of areas. On September 9, 2018, the two sides signed a memorandum of understanding (MOU) in Beijing to build the China-Myanmar Economic Corridor (CMEC), one of the key projects of the China-proposed Belt and Road initiative (BRI). On November 8, the two countries signed a framework agreement on the Kyauk Phyu Special Economic Zone (SEZ) deep-sea port project in Nay Pyi Taw, Myanmar. Also, Myanmar has over the last two years been facing great international pressure over resolving the Rakhine State issue, but China has continued its support for the Myanmar government's stance on the issue. Recently at the Myanmar Embassy in Beijing, Global Times reporters Li Sikun and Li Qiaoyi (GT) got a rare interview with U Thit Linn Ohn (TLO), Myanmar Ambassador to China, seeking his input into some of the most important questions regarding the bilateral ties, most notably the CMEC.
Source: Global Times | 2019/1/2 19:08:39

Can 2019 be the year of China-Africa convergence?

As China and Africa are looking forward to 2019, after almost two decades of close strategic partnership in the 21st century, there are a few wishes that citizens and policymakers from both sides are aspiring to, and in my opinion, as an African living in China, the greatest of them would be the convergence between the Chinese culture and economy and the African potential and future.
Source: Global Times | 2019/1/2 15:43:39

CPTPP could be a strong trading partner for China

Much attention has been paid to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which officially came into effect on Sunday. Without the US, the 11-member free trade agreement, formerly known as the Trans-Pacific Partnership (TPP), now covers 13 percent of the global economy.
Source: Global Times | 2019/1/1 22:42:37

China needs to support domestic soybean farmers to strengthen food security

Amid the recent truce in the trade war, China has restarted imports of US soybeans, but there are still lots of uncertainties about the country's soybean trade.
Source: Global Times | 2019/1/1 15:58:39

Can 2019 be the year of China-Africa convergence?

As China and Africa are looking forward to 2019, after almost two decades of close strategic partnership in the 21st century, there are a few wishes that citizens and policymakers from both sides are aspiring to, and in my opinion, as an African living in China, the greatest of them would be the convergence between the Chinese culture and economy and the African potential and future.
Source: Global Times | 2018/12/31 10:04:24

Why can't China-US soybean trade return to the days of heavy interdependence?

Amid the recent truce in the trade war, China has restarted imports of US soybeans, but there are still lots of uncertainties about the country's soybean trade.
Source: Global Times | 2018/12/30 14:53:02

China on the way to becoming a major space power

While commercialization has become a common noun in a world that's being propelled by business innovation, its usage in the space sector remains something new, which is especially true with China's space missions. Nonetheless, with the country's Long March carrier rocket series and an array of space start-ups gaining increased global attention, space commercialization is springing into a high frequency phrase. In an exclusive interview with Global Times reporter Li Qiaoyi (GT) earlier in December in Zhuhai, Yang Yiqiang (Yang), the first commander-in-chief of the Long March 11 solid-fuel carrier rockets project, described policy priorities and to-do lists toward turning China into a major space power.
Source: Global Times | 2018/12/27 22:03:06

Pivot toward Russia, India, BRI countries an option

As the year draws to a close, it is high time to reflect on China's economic performance, and consider making some opportune revisions to the economic strategy, which may prove to better resonate with the people and to propel economic growth next year.
Source: Global Times | 2018/12/27 16:02:14

Which country is set to lead on 5G development?

As some of the world's great powers try to contain China's 5G development by various means, including but not limited to technical and economic ones, 5G has gradually become a hot topic. It then begs the question as to which country is leading the 5G race and whether it is necessary for the US to target and suppress China's 5G development. A nation's 5G strength is measured by a comprehensive system, not just one or two indices, which should be composed of the following aspects.
Source: Global Times | 2018/12/25 20:37:05

China can't trade away the right to development

After 40 years of reform and opening-up, fundamental changes have taken place in China's internal and external environments.
Source: Global Times | 2018/12/24 19:23:01

Government can only promote innovation, not drive it

Over the past two years, the sharing economy wave has brought vast changes to the capital market and daily life in China. Bike-sharing is one example.
Source: Global Times | 2018/12/23 19:49:51

Comparing Google and Baidu shouldn't be politicized

The Global Times published an article last week, titled “Baidu's 'paid listing' search prompts calls for Google's return,” in which it reported that Chinese users and industry insiders have been enraged by Baidu's search service due to its “scam ads.” Citing users and industry analysts, the report said Baidu had been criticized for its paid listing model that prioritizes revenue over user experience, and they “urged a push for Google's search engine to come back, since it might make Baidu feel threatened enough to change.”
Source: Global Times | 2018/12/20 19:33:43