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Will Macao become an international financial center?

On July 4, the central government issued government bonds worth two billion yuan ($291 million) in the Macao Special Administrative Region (SAR), marking the first yuan-denominated government bonds in the Macao SAR. The move could be seen as Beijing's encouragement to Macao to develop its financial services.
Source: Global Times | 2019/7/24 18:08:40

Nepal needs to speed up selection of BRI projects to improve local quality of life

The Belt and Road Initiative (BRI) was proposed by China in 2013. Not long after the inception of the initiative, the Nepali government made a full commitment to join.
Source: Global Times | 2019/7/23 21:16:15

Will China's farm goods purchase signal a trade deal?

Chinese importers are considering new purchases of US farm products, but it would be simplistic or premature to claim that the trade dispute between the US and China over agricultural exports has reached a happy ending.
Source: Global Times | 2019/7/23 21:03:40

STAR Market set to become new incubator of Chinese technology innovation

China's new NASDAQ-style tech board, the STAR Market, which started trading on Monday, is expected to become a new catalyst of the country's science and technology innovation. Meanwhile, China's capital market sees a new milestone toward greater openness, transparency and efficiency.
Source: Xinhua | 2019/7/23 20:58:40

European Central Bank needs new inflation rules

The upcoming change of leadership at the European Central Bank (ECB) represents an opportunity – if not an obligation – to review the Bank's policy framework. The ECB can take credit for major achievements during Mario Draghi's presidency – most importantly, stabilizing the eurozone during the 2007-08 global financial crisis and ending
Source: Global Times | 2019/7/23 20:53:40

Foreign investors on sidelines while STAR board soars

China's new NASDAQ-style tech board – the Science and Technology Innovation Board, or STAR Market – opened for trading on Monday with a resounding start, but most overseas investors missed the windfall.
Source: Global Times | 2019/7/22 21:28:40

Lifting Huawei ban can remove pressure on US firms, show goodwill to Beijing

US President Donald Trump promised during the G20 summit in Osaka, Japan, to lift some of the restrictions his government had placed on Chinese telecom company Huawei.
Source: Global Times | 2019/7/22 21:23:40

Eurasia legislative bodies forum to forge stronger partnership

On September 23-24, the city of Nur-Sultan will host the fourth meeting of Speakers of the Eurasian Countries' Parliaments titled “Greater Eurasia: Dialogue. Trust. Partnership.” This event is important not only for Kazakhstan, but for all European and Asian countries.
Source: Global Times | 2019/7/22 19:13:40

AB InBev's deal machine goes into smart reverse after sale of Australian arm

Anheuser-Busch InBev (AB InBev)'s deal machine is going into a smart reverse. The Belgian brewer's sale of its Australian business to Asahi for $11.3 billion will cut debt.
Source: Global Times | 2019/7/22 18:48:40

Europe, US show signs of Japanese-style recession

Even recently, many people were still optimistic that European countries and the US were unlikely to become “Japanized.” Some mainstream economists argued that even if low growth, weak inflation and low interest rates all arrived at the same time, policymakers would have enough in the toolbox to deal with it. They even suggested that the Japanese must take bold measures, otherwise it would be impossible for the country to get rid of its old economic development model. “Japanification” is seen as a major decision-making mistake, but not inevitable.
Source: Global Times | 2019/7/22 18:43:40

Better US-Pakistan relations no loss for Beijing

US President Donald Trump is scheduled to hold his first meeting with Pakistani Prime Minister Imran Khan in Washington on Monday. The White House invitation to Pakistan represents the US' willingness to repair fraught bilateral ties and rebuild an enduring partnership, the Associated Press of Pakistan (APP) reported, citing a US official.
Source: Global Times | 2019/7/21 21:33:40

Shanghai Stock Exchange's STAR Market needs effective surveillance, support

The countdown to Shanghai Stock Exchange (SSE)'s STAR market is in its final hour. From November 5, 2018 until today, it has taken 259 days for the STAR market to officially take off. It will bring vitality to China's capital market. It is not only an important part of China's plan to deepen the capital market reform system, but also a significant experiment in China's financial supply-side reform. The market is conducive to pushing the nation's technological innovation, which is set to be expedited by the capital market reformist drive.
Source: Global Times | 2019/7/21 21:23:40

UK's new banknote just about passes Turing test amid declining cash usage

Alan Turing is to feature on the UK's new 50-pound ($63) note. Among many other achievements, the mathematician and wartime code-breaker proposed a test to determine if a machine can be described as intelligent. The smartest course-of-action might be to scrap high-denomination banknotes rather than renewing them, but the Bank of England's revamp of its highest-value bill in public circulation just about passes its own Turing test.
Source: Global Times | 2019/7/21 19:48:40

Fed rate cut will force central banks to follow suit

Eleven years since the last global financial crisis in 2008, central banks around the world are once again being pushed to the brink of opening the monetary floodgates
Source: Global Times | 2019/7/21 19:43:40

Cutting Treasury debt must remain option for China

The US-China trade war has generated heated debate over whether China will weaponize its holdings of US Treasury debt by dumping these securities into the market. Efforts are needed to avoid this “nuclear option,” but that doesn't mean China won't pare back its Treasury debt portfolio. According to official data, the country has trimmed its ownership of US Treasury debt to a two-year low.
Source: Global Times | 2019/7/18 21:38:42

Vote-hungry attitude toward trade war with China can be US' Achilles' heel

The US-China trade war has lasted more than a year, only to see both sides take casualties. According to data released by China's General Administration of Customs last week, during the first half of 2019, China's exports to the US fell by 8.1 percent year-on-year to $199.4 billion, while imports plunged 29.9 percent to $58.92 billion, resulting in a trade surplus of $140.48 billion. In other words, while the first half saw Chinese exports to the US decline, though not by too much, US exports to China collapsed quite sharply. In particular, US exports of agricultural products to China slumped over the same period.
Source: Global Times | 2019/7/18 21:38:41

China ready to counterattack as it adapts to US tariffs

The tit-for-tat trade conflict between the US and China of a magnitude and endurance the world has rarely witnessed before has entered a stalemate or seesaw phase.
Source: Global Times | 2019/7/18 18:28:41

Amazon's data deal invites DC scrutiny, consumers underpaid for information

Amazon.com's data deal is inviting DC scrutiny. As its executives appeared at an antitrust hearing in Congress alongside those from other tech firms, the e-commerce giant offered its customers $10 to track their web browsing. It's a smart way to grab business from rivals, and the price low-balls the value of user data. That's a demonstration of how dominance works.
Source: Global Times | 2019/7/18 18:28:40