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China's answer to Tesla has had a star role in the market despite stuttering sales

Electric car maker Nio shifted quickly into a new gear. On the second day of trading after its initial public offering on the New York Stock Exchange, its shares zoomed up 76 percent. That transforms China's answer to Tesla from a carmaker into a tech star.
Source: Global Times | 2018/9/17 19:08:41

Financial risks are resurfacing in post-global crisis era

Back in November 2002, Ben Bernanke, then a governor of the Federal Reserve, attended Milton Friedman's 90th birthday party. In his writings, the legendary monetarist had pinned the Great Depression on policy failures of the US central bank. Bernanke was a keen disciple and apologized to Friedman on behalf of his employer, vowing that the Fed wouldn't make the same mistake again. Less than six years later, Bernanke found himself at the helm of the Fed on that fateful day, September 15, 2008, when Lehman Brothers collapsed. Another Great Depression beckoned. But now the Fed chairman was ready to make good on his promise.
Source: Global Times | 2018/9/17 19:08:40

India's exclusion of Huawei, ZTE will hurt bilateral technological cooperation, investment

Chinese telecom equipment makers can't passively accept their exclusion by India from its 5G trials, a move that is likely to result in a retrogression of bilateral technology cooperation.
Source: Global Times | 2018/9/16 22:13:40

EU and China should deepen industrial cooperation

The EU and China are key partners in many ways. Together they make up 10 percent of the world's land area, 25 percent of the global population and one-third of global GDP. Together, we not only greatly influence the global economy, but also the lives of the people. Our economies are interdependent. The EU is China's largest trading partner and China is the EU's second-largest after the US. But our partnership has the potential to develop even further.
Source: Global Times | 2018/9/16 19:53:40

Hubris remains fundamental reason for Lehman collapse, despite CEO's complaints

Lehman Brothers should not have failed. No, that's not a criticism of the US government's refusal to bail out the firm, thus condemning it to file for bankruptcy on September 15 a decade ago. Instead, it's a recognition of how Chief Executive Dick Fuld and his lieutenants had built a well-run investment bank – until they succumbed to hubris.
Source: Global Times | 2018/9/16 19:53:39

US fiscal and government debt woes fuelling fears of the making of new financial crisis

Ten years after the global financial crisis ignited by Wall Street giants, the US' worsening fiscal outlook and mounting government debt are fueling fears of a new crisis that could plunge the world economy into recession once again.
Source: Global Times | 2018/9/13 22:43:40

China needs policy toolbox to fend off financial risks

As official statistics point to an acceleration of deflationary pressure in China's vast manufacturing sector, experts are suggesting that the authorities in Beijing take more steps to loosen fiscal and monetary policy to support economic growth.
Source: Global Times | 2018/9/13 22:38:40

HK must take advantage of rail network integration to boost competitiveness

September 10 was the first day that tickets for the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) went on sale. There was a long line waiting in the railway station before dawn in Hong Kong, hoping to get the tickets.
Source: Global Times | 2018/9/13 20:53:40

Tech firms haven't cracked medical market yet but Apple's new strategy could work

Apple's new innovation is to tap fear as well as greed. The $1 trillion firm's new watches can detect falls and heart conditions, making them a useful gift for grandma, as well as hypochondriacs everywhere. Meanwhile, aesthetic appeal and better cameras should be enough to convince many users to pay up for an improved phone.
Source: Global Times | 2018/9/13 20:33:40

BoE governor fails to look at China's economy, risks objectively

A warning by Bank of England (BoE) Governor Mark Carney calling China “a risk to the global economy” in relation to the financial sector is essentially lopsided. Risks in China's financial system are controllable overall and pose no risk to global financial stability.
Source: Global Times | 2018/9/13 20:18:40

Arctic shipping routes can further warm China-Russia cooperation, technological development

China has launched its first domestically built icebreaking vessel named Xuelong 2, reflecting its determination to strengthen its research and exploration in the Arctic region.
Source: Global Times | 2018/9/12 22:43:41

China can win tech future with reform, innovation

While Chinese technology brands have over the years made their way into both domestic and international markets, weakening consumers' outright fondness for Western brand names, especially US ones, it's fair to say China's technological rise has yet to be significant enough to make it a science superpower, a crown believed to be still worn by the US.
Source: Global Times | 2018/9/12 20:38:40

Data hides difficult times facing China's private firms

The development of China's private sector in the past 40 years has been miraculous. The private sector has now become an inseparable part of the Chinese economy.
Source: Global Times | 2018/9/12 19:23:42

Wall Street's best and brightest struggling to make a difference at major tech firms

Wall Street brains are mostly stumped by tech dilemmas. Giant opportunities and pay packages lured Imran Khan and other rainmakers to Silicon Valley. Their record is mixed at best at Snap, Alphabet and Twitter. Raising capital is easy, instilling discipline harder, and finding ways to beat dominant rivals nearly impossible.
Source: Global Times | 2018/9/12 19:23:40

China-Russia technological cooperation can help avert impact amid trade tensions with US

The Russia-China Investment Fund (RCIF) and China's Tus-Holdings have announced joint investment plans focusing on developing technology, which “would see $1.28 billion investment in the Russian Tushino Project Technology Park,” Reuters reported Tuesday.
Source: Global Times | 2018/9/11 22:33:42

Chinese companies need support amid restructuring

Social security in China will change big time in 2019 as tax bureaus are given the power to collect social security contributions. With the social security bureau responsible for collection, only a limited number of Chinese companies, especially privately owned small and medium-sized enterprises (SMEs), have made the correct payments for employees. Stricter enforcement is expected under the tax bureau.
Source: Global Times | 2018/9/11 22:18:40

Fast-growing payment upstarts can make up for Europe's lack of large tech firms

Europeans often bemoan the lack of home-grown technology groups. Germany's Wirecard and Netherlands-based Adyen, whose combined value has soared to 43 billion euros ($50 billion), are notable exceptions.
Source: Global Times | 2018/9/11 18:53:40

US needs to make top executives more accountable

All across the US, students are settling into college – and coming to grips with “Econ 101.” This introductory course is typically taught with a broadly reassuring message: If markets are allowed to work, good outcomes – such as productivity growth, increasing wages, and generally shared prosperity – will surely follow.
Source: Global Times | 2018/9/11 18:53:40