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Tax cooperation can help B&R achieve aspiration

Tax cooperation related to the Belt and Road (B&R) initiative has entered a new era. A conference related to B&R tax cooperation, recently held in Astana, capital of Kazakhstan, created a framework for establishing long-term mechanisms for tax cooperation. This will have a positive impact on the construction of a global economic governance system.
Source: Global Times | 2018/5/28 21:23:39

Investment in Indonesia's Sabang port will be test of India's diplomatic wisdom

As India and Indonesia are eyeing a strategic investment plan for the Indonesian island of Sabang, Indian Prime Minister Narendra Modi's upcoming visit to the Southeast Asian country is worth noting.
Source: Global Times | 2018/5/28 21:18:41

Russia aims to follow China's lead with African ties

Russia's Minister of Trade and Industry Denis Manturov and his Egyptian counterpart Tarek Kabil signed an agreement to establish a Russian industrial zone during the 11th Egyptian-Russian Economic Commission meeting in Moscow on Wednesday. This will boost cooperation between the two countries, especially in the industrial, agricultural and customs fields.
Source: Global Times | 2018/5/28 20:23:40

High oil prices, global supply issues mean that time is right for OPEC to open the taps again

OPEC is changing course. For the past year-and-a-half, the Organization of the Petroleum Exporting Countries and producers like Russia have diligently stuck to agreed oil supply cuts. Now Russia and Saudi Arabia are discussing opening the taps by an extra 1 million barrels per day, Reuters reported on Friday. It's more of a reset than a rethink.
Source: Global Times | 2018/5/28 20:23:39

China's loans to Pakistan should drive economic development, lift debt payment ability

Pakistan expects to obtain $1 billion to $2 billion of fresh Chinese loans to help it avoid a balance-of-payments crisis, Reuters reported. Some observers hope China's economic assistance will help the country avoid having to go to the IMF for a bailout, but the key issue is the sustainability of China's financial help.
Source: Global Times | 2018/5/27 22:03:40

Taiwan's dollar diplomacy doomed to end in failure

The African country Burkina Faso on May 24 declared it would break off diplomatic relations with Taiwan. On May 26, State Councilor and Foreign Minister Wang Yi and Alpha Barry, the foreign minister of Burkina Faso, jointly signed a communique to resume diplomatic ties. It showed the limitations of Taiwan's dollar diplomacy.
Source: Global Times | 2018/5/27 22:03:39

Reinventing monetary wheel won't fix sick economies

Slumps have always been boom times for monetary experiments, and the economic collapse of 2008-2009 was no different. Underlying this recurrence is the instinctive feeling that economic calamities must have monetary causes, and therefore monetary remedies. There is either too much money, which causes inflation, or too little, which leads to depression. So the aim of monetary reformers – among whom are always a large number of quacks and cranks – has been to “keep money in order” and prevent its gyrations from disturbing the “real” economy of production and trade.
Source: Global Times | 2018/5/27 20:08:42

US claim that Section 232 auto probe is based on national security is clearly absurd

The White House is threatening the automotive industry with a scorched-earth gambit. President Donald Trump on Wednesday asked Commerce Secretary Wilbur Ross to consider a so-called Section 232 investigation on all imports of vehicles and parts. That may well just be his fuel-injected bargaining chip for negotiations with partners in NAFTA, the North American trade pact. If the levies actually happen, though, it would leave domestic and foreign automakers reeling.
Source: Global Times | 2018/5/27 20:08:39

Rollback of Dodd-Frank financial rules doesn't signal return to previous banking era

The first significant adjustment to post-crisis US financial regulation, passed on Tuesday, is not going to unleash financial Gomorrah. Big banks will barely notice the difference. And even if the deregulatory tide continues, the financial markets have changed sufficiently that the “good old days” aren't coming back any time soon.
Source: Global Times | 2018/5/24 21:08:40

US decision on Iran is not all bad news for China

On May 8, US President Donald Trump announced that the US would pull out of the Iran nuclear deal. The decision means that sanctions against Iran will be resumed, including fines for companies importing oil and related products from Iran. But the other countries that signed the deal – China, France, Germany, Russia and the UK – have made it clear that they will not withdraw from the deal.
Source: Global Times | 2018/5/24 21:08:40

Transparency will convince foreign investors of China's genuine opening-up

Pro-foreign investment efforts in progress to offer foreign businesses wider and more transparent access to China's market will effectively address foreign investors' concern over roadblocks in one of their most coveted markets.
Source: Global Times | 2018/5/24 21:03:41

Indonesia's path to prosperity lies in manufacturing

Indonesia is full of optimism, but much must be done to achieve its ambitions. Early last year, President Joko Widodo (Jokowi) set a goal for the country to become the world's fourth-largest economy by 2045, which will also be the 100th anniversary of independence.
Source: Global Times | 2018/5/24 21:03:40

US trade coercion moves must be abandoned

The US and China have pulled back from the brink of a potentially nasty trade war, following several rounds of intensive negotiations in Beijing and Washington.
Source: Global Times | 2018/5/23 21:58:42

Reciprocal opening-up only sustainable way to mutual gains for China, trading partners

China's pledge to buy more US goods as part of a deal to avert a bilateral trade war leaves Germany squeezed in the middle, Bloomberg News reported Wednesday.
Source: Global Times | 2018/5/23 21:58:42

US must amend its currency policy to ease deficit

Vice Premier Liu He has returned to Beijing following trade talks in the US, and the US will send a high-level team to Beijing for further discussions next week. The frequency of these official exchanges shows that China and the US are trying hard to find a solution to the recent trade tension.
Source: Global Times | 2018/5/23 21:38:40

Kai-fu Lee's new AI consultancy sounds promising but competition in the field is growing fast

Kai-fu Lee's venture capital firm Sinovation Ventures on Tuesday announced a new artificial intelligence (AI) subsidiary. But the former Google China president's new offshoot, essentially a business model innovation that could step up China's ambitions for AI dominance, still needs to be justified in terms of its commercial viability.
Source: Global Times | 2018/5/23 21:33:41

Reasoning, talks can resolve Sino-US trade disputes

There are inevitable conflicts and friction in China-US economic ties, given the discrepancy between the two countries' economic systems and structures, reserves of natural resources and standards of living. Despite such differences, there's still immense leeway for the world's two largest economies to complement each other's strengths.
Source: Global Times | 2018/5/22 23:23:40

China's purchases of US farm products reflect consumer demand, not US pressure

On Monday, US President Donald Trump tweeted that China will purchase from US farmers as much as they can produce. China is likely to step up imports of US agricultural products following bilateral trade talks, but that reflects China's own market demand rather than the country's bowing to US pressure.
Source: Global Times | 2018/5/22 23:18:39