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China should stay vigilant against currency crisis

Since the latter part of June, the yuan's devaluation has accelerated, with the yuan's daily fixing rate against the US dollar breaking above key levels – 6.45, 6.5 and 6.55. Other than dollar weakness, China-US trade rows have also contributed to the weakening of the yuan. The two countries reached a preliminary consensus on settling the trade disputes on May 20, but a few days later the US decided to slap tariffs on $50 billion of Chinese high-tech imports and even considered raising overall tariffs to $200 billion.
Source: Global Times | 2018/6/28 21:08:41

Crypto goes to Hollywood with TaTaTu tokens, but perhaps without a happy ending

Take a Lamborghini, a few movie stars and a dash of Bacardi, and infuse it all with the scent of cryptocurrency riches. With this cocktail, Italian film producer Andrea Iervolino hopes to revolutionize the entertainment industry. He is building a social-media platform to take on the likes of Netflix and Facebook, and has raised $575 million through a private sale of tokens. The money was the easy part.
Source: Global Times | 2018/6/28 21:08:40

No need for Chinese investors to rush into North Korea before UN sanctions are lifted

Chinese investors are paying close attention to North Korea's economic situation in search of potential business opportunities, but they may have to temper their enthusiasm.
Source: Global Times | 2018/6/28 0:23:39

China can win trade war by continuing market reforms

The Sino-US trade war has started. The US has kept escalating its trade provocations. Ignoring warnings from Beijing, US President Donald Trump threatened to fight back harder if retaliatory measures were adopted by China. Initial trade agreements achieved in recent talks have been shredded.
Source: Global Times | 2018/6/28 0:18:40

China-CEEC cooperation will boost EU integration

With the implementation of the Belt and Road (B&R) initiative and 16+1 cooperation, investment from China and infrastructure projects have become the new driving force for economic growth within Europe.
Source: Global Times | 2018/6/28 0:18:40

EU's best bet is to indulge Trump on car tariffs, offer incentives at the negotiating table

Facing a possible trade tit-for-tat with US President Donald Trump, the European Union has two unpalatable options: keep matching American measures, or extend a hand to defuse tensions. Offering to slash tariffs on auto imports would dent Europe's pride, but might avert further economic damage.
Source: Global Times | 2018/6/28 0:18:39

China-Pakistan trade tiff will not undermine friendship

On June 13, Pakistan's National Tariff Commission imposed anti-dumping duties on color-coated coil imports from China and South Africa. The decision triggered doubts about the China-Pakistan relationship, but these concerns are unfounded. The case is an economic one, rather than a political dispute, and it's not necessary to read too much into it.
Source: Global Times | 2018/6/26 23:28:42

Beijing must offer subsidies and policy support to companies harmed by US tariffs

Trade frictions between China and the US continue to escalate. Now, it's time for China to take further self-defense measures including offering fair subsidies for the companies and industries that may suffer great losses due to unfair actions taken by the US.
Source: Global Times | 2018/6/26 23:28:41

China's stock market needs new regulatory framework

The stark contrast between China's sagging A shares and still-resilient US stocks, both clouded by the China-US trade row, should be a wake-up call against just paying lip service to restore investor confidence in mainland stocks.
Source: Global Times | 2018/6/26 23:28:41

Airbus' Brexit certainty drive is wishful thinking, calls for clarity will fall on deaf ears

Airbus' Brexit certainty drive is wishful thinking. The nature of the Franco-German planemaker's business means that earmarked transition periods after a UK exit could be too short. But its call for clarity on future arrangements will fall on deaf ears.
Source: Global Times | 2018/6/26 23:28:40

China must pursue cautious path toward petroyuan

Since the launch of yuan-denominated crude oil futures in March, the contract's average daily trading volume has steadily increased and now ranks No.3 in the world. Its overall price trend has synchronized with the global level, meaning that the pricing function of the contract is taking shape.
Source: Global Times | 2018/6/25 22:53:40

US tariffs wake-up call for EU to view China as partner

Since Donald Trump announced his intentions to run for the presidency of the US, the whole world has claimed that Trump is a problem. However, this is inaccurate. Trump is not the problem, but a consequence. In other words, he is just the tip of the iceberg.
Source: Global Times | 2018/6/25 22:53:40

US technology investment barriers will push a closer tie between China, EU

US President Donald Trump plans to ratchet bilateral economic tensions higher by barring many Chinese companies from investing in key technologies in the US and blocking additional technology exports to Beijing, the Wall Street Journal has reported, citing people familiar with administration plans. The news comes at a time when China and the EU aim to step up cooperation in bilateral trade and investment to oppose unilateralism and protectionism.
Source: Global Times | 2018/6/25 22:53:40

Saudi index win is stepping stone, but Aramco IPO listing would make bigger splash

Saudi Arabia's stock market is joining the big time. Index provider MSCI on Wednesday added the kingdom to its emerging markets benchmark. The elevation is well deserved, but a more important catalyst for internationalizing its capital market would be listing national oil champion Aramco.
Source: Global Times | 2018/6/25 22:53:39

Progress in Qinghai-Tibet Railway the start of closer trade ties between China, Nepal

China-made locomotives recently replaced US rolling stock to run on the plateau railway linking Lhasa in Southwest China's Tibet Autonomous Region and Golmud in Northwest China's Qinghai Province, a piece of good news for the China-Nepal railway project.
Source: Global Times | 2018/6/24 22:03:40

China must hold to opening-up in face of doubts

It's been more than four years since the Belt and Road (B&R) initiative was launched, and China has invested heavily in the push for the strategic initiative. Amid the uncertain political outlooks in the US and Europe, B&R-related rail, road and port construction plans are expected to provide economic prosperity in countries and regions along the route. The initiative is significant in geopolitical terms, but it mainly revolves around infrastructure investment as China hopes to build a common market in partnership with other countries. So far it has been moving mostly in the right direction.
Source: Global Times | 2018/6/24 22:03:40

Companies feed bad politics by shirking tax duties

Societies work best if everyone helps out. Two new studies suggest that many big companies in developed economies are shirking. They are taking too much in profit and paying too little in tax.
Source: Global Times | 2018/6/24 20:53:40

Disney hurls moolah to woo Murdoch, still has room to up its bid against Comcast

Walt Disney has hurled magic and moolah to woo the Murdochs. The Mouse House leapfrogged Comcast by raising its offer for parts of Twenty-First Century Fox to $71 billion, including a generous dollop of cash. Disney has room to go higher still. The cable firm may yet go hostile but would be better off focusing its efforts on Sky.
Source: Global Times | 2018/6/24 20:53:39