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Global industry chain integration China's best choice

The Trump administration has struck another blow against China's technology sector as the US Commerce Department on October 29 announced it will restrict Chinese chipmaker Fujian Jinhua Integrated Circuit Co from buying components, software and technology goods from US companies.
Source: Global Times | 2018/11/4 20:38:40

Beijing won't hesitate to aid Pakistan, but efficient use of funds is crucial issue

Although China has not yet announced the details of an economic aid package to Pakistan, saying more discussion is needed, there has been no change in China's attitude toward the China-Pakistan Economic Corridor (CPEC).
Source: Global Times | 2018/11/4 20:38:40

Bitcoin going through rocky period at end of first decade but still has its believers

Bitcoin's short history is a triumph of hope over experience. The digital money is marking its first decade with a punishing slump. Fraud and regulatory zeal have dried up the issuance of rival cryptocurrencies. The underlying blockchain technology has yet to produce its first killer app. It's a long way from the revolution envisaged by founder Satoshi Nakamoto.
Source: Global Times | 2018/11/4 19:48:39

Focus on long-term stock market stability needed

There have been calls from high-level government officials to boost the stock market in recent days and various measures have been taken, but the core issue is not to return to the kind of bull market that was seen in 2014 and early 2015.
Source: Global Times | 2018/11/4 19:43:39

Japan, China have common regional interests, but Indo-Pacific Strategy bears watching

After Japan and India agreed earlier this week to step up bilateral ties, it was announced that Japanese Prime Minister Shinzo Abe would visit Australia in November. This has been viewed by some observers as part of Abe's Free and Open Indo-Pacific Strategy, as Tokyo keeps an eye on China's growing influence in the Indo-Pacific region. The development of economic relations between Japan and India has fallen far behind Tokyo's economic ties with China, where a complex web of production chains has been established in recent decades despite unstable political ties.
Source: Global Times | 2018/11/1 22:18:40

Asia needs new regional safeguard mechanisms

The past two years saw the US pull out of various international organizations and provoke trade disputes with major trade partners, indicating the continuous collapse of global order.
Source: Global Times | 2018/11/1 22:08:40

Ties with Japan becoming more complementary

This year is the 40th anniversary of China's reform and opening-up, and it has also been 40 years since the China-Japan Treaty of Peace and Friendship was signed. Through joint ventures, technology transfer and employee training, Japanese companies have given some help to their Chinese peers. And China has become one of Japan's main markets, thanks to the development of the Chinese economy and the increase in domestic consumption.
Source: Global Times | 2018/11/1 20:08:41

Facebook should avoid dodgy deals as it searches for new ways to prop up growth

Facebook is heading into an earnings pincer movement. Sales growth at the $410 billion social-media network slowed in the third quarter, the company said on Tuesday. Combating that and other problems means spending more, hitting both top and bottom lines. That may force Chief Executive Mark Zuckerberg to take rash countermeasures.
Source: Global Times | 2018/11/1 20:08:40

'Spy' stories from Washington read like thrillers but don't reflect global economic reality

The US is trying to play a dangerous game, when some scholars and media outlets describe economic interaction between China and the US as a spy novel or espionage movie. “How China used a tiny chip to infiltrate US companies?” Bloomberg Businessweek published a story on October 4, saying that Chinese spies infiltrated the supply chains to install tiny chips onto motherboards produced by Super Micro Computer Inc.
Source: Global Times | 2018/10/31 22:38:41

Will US debt crisis trigger new stock rout, financial turmoil?

Since the 1970s, US government debt as a percentage of GDP has remained at less than 70 percent for roughly 30 years, but in 2009, the ratio of public debt to GDP jumped to 82.4 percent.
Source: Global Times | 2018/10/31 22:38:40

China, Japan must push financial cooperation

Financial cooperation between China and Japan has seen unprecedented changes recently, which is a positive sign amid the current global trend toward unilateralism. It also raises the question about whether the bilateral financial cooperation is being forged by two sides coming to each other's aid in a time of crisis despite old grievances and enmities, or if it is a result of long-term planning and foresight.
Source: Global Times | 2018/10/31 20:13:41

RBS caught in the middle of a political game as different sides wrangle over its Brexit warning

RBS is still finding its state embrace uncomfortable. In the decade since the UK lender wound up with a majority government stake it has been dragged over the coals for its bonuses, its lending policies and allegedly driving healthy businesses to the wall. Friday's 100 million pound ($127.52 million) provision to cover the risk of a messy UK exit from the EU is the latest sign of its state/private sector hybrid status.
Source: Global Times | 2018/10/31 20:13:40

China needn't defend crucial psychological level of 7 yuan per dollar at any cost

The yuan slid to its weakest level since May 2008 on Tuesday, stirring speculation over whether the Chinese government will tolerate a slide beyond the key level of 7 per US dollar.
Source: Global Times | 2018/10/30 21:53:41

CIIE part of nation's long-term process of opening-up

With the China International Import Expo (CIIE) fast approaching, some Western media have expressed skepticism about the fair's role in facilitating China's opening-up. Given their lack of understanding, it is necessary to make some points about the CIIE.
Source: Global Times | 2018/10/30 21:53:40

Investor psychology was main reason for 2008 crisis

The 2008 financial crisis and subsequent recession left the Global North 10 percent poorer than it otherwise would have been, based on 2005 forecasts. For those hoping to understand this episode better, I have long recommended four books, in particular: Manias, Panics, and Crashes, by the 20th-century economist Charles P. Kindleberger; This Time Is Different, by Carmen M. Reinhart and Kenneth S. Rogoff of Harvard University; The Shifts and the Shocks, by the Financial Times economics commentator Martin Wolf; and Hall of Mirrors, by my University of California, Berkeley, colleague Barry Eichengreen.
Source: Global Times | 2018/10/30 19:03:41

UBS focusing on cost control to boost profitability amid concerns over slow growth

The recent departure of UBS' key rainmaker Andrea Orcel may have left some observers convinced that boss Sergio Ermotti now has an alluring opportunity to shrink the investment bank in favor of more highly rated wealth management. If so, they had better think again.
Source: Global Times | 2018/10/30 19:03:40

Collaboration with Chinese firms in Sri Lanka can ultimately benefit India's modernization

Political tension in Sri Lanka could lead to closer ties between the island country and China “at a time when India is engaged in a grueling race for influence with China in the neighborhood,” the Hindustan Times in India wrote in an editorial on Monday.
Source: Global Times | 2018/10/29 22:18:40

No room for sharp depreciation of yuan in near term

As a result of the rebound of the US Dollar Index, the yuan's value has recorded a rapid depreciation against the dollar this year. Specifically, the central parity rate of the yuan against the dollar reached 6.95 on October 26, down by 10.8 percent from a rate of 6.27 on April 2.
Source: Global Times | 2018/10/29 22:18:40