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Alliances in emerging markets leave Uber tangled in competitive knots with local partners and rivals

Uber's tangled alliances are getting messier. The US ride-hailing giant's imminent IPO, set to value it at as much as $100 billion, has laid out details of deals struck in recent years as it pulled out of hyper-competitive markets like China, taking stakes in local rivals instead. The pacts look worryingly asymmetrical, though, tying up mostly Uber.
Source: Global Times | 2019/4/17 19:03:41

Trump's 5G remarks ignore the internet's spirit of openness, sharing and innovation

In this 5G competition, China has many advantages that we didn't have in the past, such as the technical experience of Huawei and ZTE in equipment, more than 800 million internet users, and internet giants like Baidu, Alibaba and Tencent.
Source: Global Times | 2019/4/16 21:43:41

China can use new strength to gain from talent flows

A new round of talent flows has emerged in the world amid a Cold War mentality adopted by some US politicians to crack down on Chinese high-tech companies.
Source: Global Times | 2019/4/16 21:43:40

US has to review aggressive stance as China triumphs

After a dismal February, China's dollar-denominated exports rebounded with growth of 14.2 percent in March. Total trade contracted by 1.5 percent to $1.03 trillion for the first quarter of 2019 largely because of a 4.8 percent drop in imports.
Source: Global Times | 2019/4/16 19:18:40

Banco Santander makes shareholders of Mexican subsidiary a $2.9b offer that's hard not to refuse

Banco Santander has made shareholders in its Mexican unit a proposal they can refuse. The Spanish bank on Friday offered investors in Santander Mexico the chance to swap their shares for stock in the parent company. Despite a 14 percent premium, the deal is unenticing. Investors should hold out.
Source: Global Times | 2019/4/16 19:13:40

India's trade deficit with China finally reduced!

India cut its trade deficit with China by the most in more than a decade, Bloomberg reported Tuesday, mainly because of a sizeable increase in exports by India who won market access last year for sugar, rice, pharma, and a range of products exported to China.
Source: Global Times | 2019/4/16 16:03:48

Struggles of Chinese delivery staff merit more attention

An internal letter attributed to Liu Qiangdong, founder of Chinese e-commerce giant JD.com, said JD Logistics ended the base salary for delivery staff because the subsidiary must end a 12-year string of losses through reforms. If losses continue at the current scale, the subsidiary would only have enough money for two more years, Liu said.
Source: Global Times | 2019/4/15 20:38:40

BRI creates new Asian paradigm for global economic integration and inclusiveness

The world has been closely following the Belt and Road Initiative (BRI) since it was announced in 2013. The idea started with developing a platform and financial mechanisms that would integrate developing nations into China's drive for a more cohesive economic policy and build much-needed infrastructure that developing nations need to make the jump to the fifth industrial revolution and take part in the 21st century economic framework.
Source: Global Times | 2019/4/15 20:33:40

A $100b IPO price tag could give Uber extra mileage in a long race against losses and rivals like Lyft

A $100 billion price tag is still in Uber Technologies' driving range. The ride-hailing app just released the prospectus for its initial public offering, which could value it at about nine times 2018 revenue. At least that's less than the multiple at which faster-growing Lyft went public. Both cash-burning firms face an uncertain road to profitability. Uber's diversification may help it survive the long journey
Source: Global Times | 2019/4/15 19:13:40

Expectations run high for 2nd Belt and Road Forum

The Second Belt and Road Forum for International Cooperation will be held in late April in Beijing. This summit will be highly important in terms of its participation and depth of issues under discussion. It is expected that representatives from 100 countries and regions will attend the event. Preparations are at their peak, as it will be a major diplomatic event in Beijing and the Chinese government grants it very high importance.
Source: Global Times | 2019/4/15 19:08:40

Drilling platform a breakthrough in South China Sea

Discussions over joint oil and gas exploration in the South China Sea could soon be stirred up once more, as China's first self-developed semi-submersible drilling platform completed its first deep-water well, a breakthrough for China's exploration of deep-water oil and gas in the South China Sea.
Source: Global Times | 2019/4/14 20:33:40

Trump's 'epic' trade deal tied to reelection calculation

Although the US and Chinese governments both claimed they are nearer to clinching a trade deal and putting a year-long tariff war behind them, the world probably has to wait for a few more weeks, if not months, before the two superpowers sit down and put ink on paper. The world ought to have the patience to see how the protracted tussle will play out.
Source: Global Times | 2019/4/14 20:33:39

China's residency relaxation needs to prevent talent drain

China's National Development and Reform Commission announced it would relax restrictions on hukou, the country's household registration system. To promote mobility of people, relaxing hukou is a crucial step in the right direction. However, complementary policies are necessary to counter potential side effects and to ensure they run accordingly. According to the draft measure, China will eliminate hukou restrictions in cities with 1 to 3 million people while relaxing rules in larger cities with populations between 3 to 5 million. Some have interpreted the move as a disguised attempt to loosen real estate purchases. However, a housing price surge could be the last thing to be concerned with regarding the policy's effects, which would be far-reaching, but not entirely positive.
Source: Global Times | 2019/4/14 18:38:40

Hedge fund's second appearance could help slim Sony down into a nimbler company

Dan Loeb's second appearance at Sony may be just what the Japanese conglomerate needs. The American activist's return as an investor in the $60 billion PlayStation-maker provides a catalyst for management to split the company into a pure-play chips business and a more focused-entertainment group coveted by Apple, Amazon and Netflix – and with more resources to fight them.
Source: Global Times | 2019/4/14 18:33:40

Trump's 'epic' trade deal tied to reelection calculation

Although the US and Chinese governments both claimed they are nearer to clinching a trade deal and putting a year-long tariff war behind them, the world probably has to wait for a few more weeks, if not months, before the two superpowers sit down and put ink on paper. The world ought to have the patience to see how the protracted tussle will play out.
Source: Globaltimes.cn | 2019/4/12 22:32:49

China's residency relaxation needs policy to prevent rural talent drain

China's National Development and Reform Commission announced it would relax restrictions on hukou, the country's household registration system. To promote mobility of people, relaxing hukou is a crucial step in the right direction. However, complementary policies are necessary to counter potential side effects and to ensure they run accordingly.
Source: Globaltimes.cn | 2019/4/12 20:29:07

More China-EU deals will bring prosperity but require time, trust and hard work

This week has seen China and the EU come together at a landmark summit that featured discussion at the highest level about how the flow of goods, services and capital between the two economic superpowers can benefit both sides. This is a sensitive subject. The backdrop of testy China-US trade talks and European governments' increased scrutiny of Chinese interest in strategically sensitive sectors are certainly dark clouds, but between them there is sunlight and hope for common ground.
Source: Global Times | 2019/4/11 20:28:13

China can't ditch state-led drive for high technology

The US produces only 5 percent of the world's lithium-ion batteries, some statistics show, lagging far behind China.
Source: Global Times | 2019/4/11 20:13:43