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Greece holds welcoming attitude to B&R integration

Amid the overall enthusiasm about the China-proposed Belt and Road (B&R) initiative, some concerns have been expressed about the sprawling plan. During his recent visit to Beijing, George Papandreou (GP), former prime minister of Greece and current president of Socialist International, talked to Global Times reporter Li Qiaoyi (GT) in an exclusive interview on Friday, offering his observations about how to address B&R-related concerns. Papandreou, who was one of the central figures in the Greek debt crisis, also shared his thoughts on Greece's economic outlook and China-Europe cooperation from a Greek perspective.
Source: Global Times | 2017/12/11 21:23:39

Fair treatment required for Chinese bidders involved in Australian energy deals

A bidding war has developed for Sydney-based natural gas explorer AWE after Australian Mineral Resources made an all-share takeover offer, Bloomberg News reported on Monday, following a A$463 million ($348 million) cash bid by a Chinese energy corporation.
Source: Global Times | 2017/12/11 21:18:39

ADB's loan reform can offer model for B&R financing

As of the end of December, the loan reform of the Asian Development Bank (ADB) had lasted for one year, and with the international rating agency Moody's rating the bank at the Aaa level, it has attracted wide attention from the international community.
Source: Global Times | 2017/12/10 21:31:58

Russia's LNG project may mean 'golden age' for energy cooperation with China

The market has perhaps read too much into Russia's $27 billion gas project in the Arctic, which has been described by Western media as a symbol of Moscow's efforts to overcome Western sanctions. The landmark project will help shore up Russia's energy cooperation with China, but it's purely a business deal that will help relieve acute shortages of natural gas in China.
Source: Global Times | 2017/12/10 21:28:39

Trade war with US unlikely despite ongoing friction

Recently, the US has been putting pressure on China over trade. For the first time since 1991, the US Department of Commerce launched “self-initiated” anti-dumping and countervailing investigations into imports of alloy aluminum sheets from China. And in late November, the US told the WTO it refused to recognize China as a market economy. Some media reports and scholars have said a trade war between China and the US is coming.
Source: Global Times | 2017/12/10 19:43:40

Sharp drop in bond yields indicates overconfidence in health of French economy

In some parts of the financial market, it's as if the eurozone debt crisis never happened. The gap between benchmark French and German bond yields last week shrank to its smallest since 2009, before the countries that share the single currency were hit by financial shocks that threatened monetary union itself. Such indiscrimination is premature, and stores up fresh problems.
Source: Global Times | 2017/12/10 19:43:39

Import power represents an economic weapon

Import capacity is power. In 2010, when I witnessed then 52-year-old Toyota CEO Akio Toyoda being queried over Toyota's quality scandal in the US House of Representatives, I drew this conclusion.
Source: Global Times | 2017/12/7 22:48:39

Import power represents an economic weapon

Import capacity is power. In 2010, when I witnessed then 52-year-old Toyota CEO Akio Toyoda being queried over Toyota's quality scandal in the US House of Representatives, I drew this conclusion.
Source: Global Times | 2017/12/7 22:38:40

Sino-Venezuelan lawsuit shows bilateral relationship based on commercial principles

Some media outlets are interpreting a lawsuit filed by Sinopec in the US against Venezuelan state oil company PDVSA as a sign of China's growing impatience over the ailing economy in Venezuela, but the case just reflects a normal bilateral trade relationship.
Source: Global Times | 2017/12/7 22:38:39

Preparations needed to mitigate effects of US tax cut

Following the tax overhaul recently approved by the US Senate, the corporate tax rate in the US will drop substantially, personal income tax will also be reduced, a number of tax systems will be simplified and a one-time tax will be levied at a lower rate on American companies' transfer of overseas assets.
Source: Global Times | 2017/12/7 22:33:40

As UK moves closer to Brexit cliff edge, only enlightened obfuscation can bring deal

Obfuscation offers the only hope of a breakthrough in deadlocked Brexit talks. A plan for Northern Ireland to comply with some EU rules after the UK leaves the bloc has met with opposition in Belfast and demands for similar treatment elsewhere. Prime Minister Theresa May's best hope is to fudge tough decisions, and use the threat of a chaotic exit – or another election – to quash dissent.
Source: Global Times | 2017/12/7 22:28:40

China's 'comatose' New Third Board needs shake-up

The National Equities Exchange and Quotations, which is China's so-called New Third Board, may be a microcosm of the nation's technological innovation. Hundreds of billions of yuan in paper wealth have vanished, causing losses for many brokers, public funds and private equity firms. Many of them wish they had never heard of this market.
Source: Global Times | 2017/12/6 20:58:39

More involvement needed by Chinese SMEs to generate employment in B&R markets

As Chinese companies' mega infrastructure projects encounter setbacks in some neighboring countries, it may be time for China to put more emphasis on encouraging the overseas development of its small and medium-sized enterprises (SMEs), which could provide a breakthrough for the Belt and Road (B&R) initiative.
Source: Global Times | 2017/12/6 20:53:39

US needs to put more into trade ties with China

On November 24, China decided to cut the import tariffs on 187 consumer goods, starting from December 1, 2017. The reduction covers a wide range of consumer goods such as food and baby milk formula. The average tax rate on these items will drop from 17.3 percent to 7.7 percent.
Source: Global Times | 2017/12/6 20:28:39

Jack Ma enlarges his payments peloton as Alipay battle with Tencent heats up

Jack Ma is pedaling headlong into China's bicycle-sharing sector. Alibaba affiliate Ant Financial just hedged its investment in Ofo with a $300 million stake in Shanghai-listed Youon. That's another 80 million potential users for its Alipay system. The move reflects rising stakes in a cutthroat battle with Mobike, backed by payments rival Tencent.
Source: Global Times | 2017/12/6 20:23:39

Recent child abuse scandals show need for tighter preschool education rules

Not long after a case of child abuse at a nursery in Shanghai for online travel agency Ctrip employees' children, another similar scandal emerged at an RYB Education kindergarten in Beijing's Chaoyang district. Although it was hard to separate the facts from the rumors, there's no doubt that child abuse is a serious issue requiring in-depth study in China.
Source: Global Times | 2017/12/5 21:18:40

Latest pay row shows bank bosses' huge remuneration is still a touchy issue in UK

The debate over bankers' pay is back with a vengeance in Britain. In one corner stands UBS Chief Executive Sergio Ermotti, who suggested that criticism of high remuneration is driven by envy. On the other, leader of the opposition Labour party Jeremy Corbyn, who ramped up attacks on bankers after a sell-side analyst criticized his policies. The row shows the enduring costs of bank excess.
Source: Global Times | 2017/12/5 21:18:39

China should beware of spillover effects of US tax cuts

The US Senate approved the most sweeping tax cuts in three decades in a 51-49 vote early on Saturday morning, a significant step for the Trump administration's goal of cutting taxes. As the Senate version differs slightly from that passed on November 16 by the House of Representatives, the two chambers need to reconcile their respective versions before a final bill is signed into law.
Source: Global Times | 2017/12/5 20:33:41