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Gaokao a test of China's scientific prowess

Over the weekend, more than 10 million Chinese students took the grueling college entrance exams, and the Beijing version of the test featured an essay question that was indirectly related to the ongoing trade war with the US.
Source: Global Times | 2019/6/9 21:38:40

Economic and trade relations between China and Russia to explore new possibilities

China and Russia agreed on Wednesday to upgrade their relations to a comprehensive strategic partnership of coordination for a new era, according to the Xinhua News Agency. The decision was made at a meeting between visiting Chinese President Xi Jinping and Russian President Vladimir Putin.
Source: Global Times | 2019/6/9 21:28:39

Trump's visit a reality check as leaving EU will make UK dependent on an erratic ally

Donald Trump's state visit may do Britain a favor – just not in the way he envisages. Even before Air Force One touched down in London last week, the US president had intervened in the race to succeed Prime Minister Theresa May, advocated a chaotic Brexit, and insulted the capital's mayor, Sadiq Khan. Leaving the European Union makes Britain even more dependent on an increasingly erratic ally.
Source: Global Times | 2019/6/9 20:53:39

Baoshang Bank woes a warning of financial risks

Chinese financial regulators announced recently that Inner Mongolia-based Baoshang Bank was taken over for one year starting from May 24 due to serious credit risks. The move is aimed at protecting the legitimate rights of depositors and other clients, according to a joint statement by the People's Bank of China (PBC) and the China Banking and Insurance Regulatory Commission (CBIRC).
Source: Global Times | 2019/6/9 20:38:40

Innovation shouldn't be pretext for pursuing subsidies, financing

China's hydrogen fuel cell industry has undergone rapid development since the mentioning of hydrogenation facilities in this year's government work report, attracting investment from more and more companies and local governments. While there are companies with real R&D and innovation capabilities among them, there are also companies that aim to gain government support through fiscal subsidies and financing under the guise of innovation. Authorities should be vigilant about this.
Source: Global Times | 2019/6/8 15:01:40

How to understand three fundamental differences in China-US trade issues

The China-US trade talks have fallen back into a stalemate. The US has pushed a negotiation that was approaching cooperative equilibrium back to a prisoner's dilemma that could harm both sides. The US unilaterally lifted tariffs on Chinese imports and upgraded the trade war into a technology war.
Source: Global Times | 2019/6/7 16:43:28

China-Russia economic and trade relations to explore new possibilities

China and Russia agreed on Wednesday to upgrade their relations to a comprehensive strategic partnership of coordination for a new era, according to the Xinhua News Agency. The decision was made at a meeting between visiting Chinese President Xi Jinping and Russian President Vladimir Putin.
Source: Global Times | 2019/6/6 14:40:28

If they must pick sides, tech firms will choose China

US President Donald Trump's latest confrontation with China's telecoms giant Huawei may plunge the world into a long-term technology “cold war,” forcing global companies to pick sides between the US and China.
Source: Global Times | 2019/6/5 20:33:40

US may escalate trade war in six ways

All parties suffer during the trade war, a game of “killing 1,000 enemies while losing 800 of our own.” Many institutions have forecast the impact of increased tariffs on China's economic growth to be around 1 percentage point. While there is no need to panic, we should also prepare for worst-case scenarios.
Source: Global Times | 2019/6/5 20:23:40

Google and Amazon to be the antitrust appetizers as precedents for future fights

At some point, antitrust investigations of Google and Amazon.com become a no-brainer. As a step in that direction, the Federal Trade Commission and Justice Department, which police US competition issues, have divvied up responsibility for the tech giants, according to news reports. That could create ammo for future fights. Facebook ought to worry too.
Source: Global Times | 2019/6/5 20:08:40

Fixing domestic issues key to China-US competition

We are now facing an unprecedented historic change. The essence of change is the competition between big powers – currently China and the US.
Source: Global Times | 2019/6/5 19:58:39

US, UK will both pay price for blocking Huawei in 5G

Several days before US President Donald Trump's long-delayed state visit, 5G finally landed in the UK. Last week, the BBC held the country's first live 5G broadcast with Huawei equipment, although it got off to a bumpy start because the SIM card used for the trial ran out of data.
Source: Global Times | 2019/6/4 20:08:41

China's logistics services need to follow its manufacturing to expand overseas

US logistics giant FedEx, one of the world's top delivery brands, has surprisingly – and repeatedly – mishandled Huawei's packages. Regardless of whether there were any long-armed instructions behind the scenes, the incident should serve as an alarm bell to global companies about the safety of international delivery services.
Source: Global Times | 2019/6/4 20:08:40

Allianz picks brave moment to double down on UK amid Brexit, growing competition

Allianz has picked a brave moment to expand in the United Kingdom. The German insurer on Friday announced it was spending 820 million pounds ($1 billion) to bulk up its car, pet and home insurance businesses in Britain. That will boost scale, but competition and looming regulations will make it hard to make a decent return.
Source: Global Times | 2019/6/4 20:03:40

Austerity more of financial interest tool than solution

Harvard University Professor Alberto Alesina has returned to the debate on budget deficits, austerity, and growth. Back in 2010, Alesina told European finance ministers that “many even sharp reductions of budget deficits have been accompanied and immediately followed by sustained growth rather than recessions even in the very short run.” Now, with fellow economists Carlo Favero and Francesco Giavazzi, Alesina has written a new book titled Austerity: When It Works and When It Doesn't, which recently received a favorable review from his Harvard colleague Kenneth Rogoff.
Source: Global Times | 2019/6/4 19:53:42

Unreliable entity list to focus on US technology firms

Let's guess who is likely to be among the first batch of entities on China's “unreliable list” of foreign companies, organizations and individuals as the trade war with the US continues to escalate.
Source: Global Times | 2019/6/3 19:58:40

China's growth miracle over past three decades underlines strategic choice at critical moment

The Chinese economy has experienced a period of unprecedentedly rapid growth over the past three decades. China's GDP skyrocketed to 90 trillion yuan ($13.25 trillion) in 2018 from 1.72 trillion yuan 30 years ago, with an amazing average annual growth rate of about 9 percent. The 30-year period also saw remarkable improvement in Chinese people's living standards, with the per capita disposable income of urban residents soaring from 1,374 yuan to 39,251 yuan.
Source: Global Times | 2019/6/3 19:58:39

Hedge funds see honey in Japan's value traps, but arguing with market forces remains dangerous

Hedge funds see honey in Japan's value traps. Companies from the Land of the Rising Sun dominated pitches at Hong Kong's Sohn Conference on Thursday. They pointed to signs of unjustified panic in the country's equities slump, creating opportunities to buy low. But even optimists highlighted the persistent cash hoarding and slack governance that have long scared investors away.
Source: Global Times | 2019/6/3 19:02:40