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Further convergence depends on new growth drivers

The world is now facing what observers are calling a “synchronized” growth upswing. What does this mean for the economic convergence of developed and developing countries, a topic that lost salience after the Great Recession began a decade ago?
Source: Global Times | 2018/2/13 19:23:39

State Bank of India looks well-positioned for growth despite unexpected losses

An era of reckless lending is proving hard to shake off. On Friday, State Bank of India, the country's largest lender, reported an unexpected dip into the red. It's a poor start to the tenure of new Chairman Rajnish Kumar, but at least he has a good idea of where the bank is headed.
Source: Global Times | 2018/2/13 19:18:39

US market turmoil shows constraints on growth

Earlier this month, turmoil that had been building for some time, shook US financial markets.
Source: Global Times | 2018/2/12 22:23:41

Suspension of Brazil rail project doesn't signal shift in economic ties with China

Brazil's reported decision to halt a planned railway to transport exports bound for China through Peru has sparked heated debate at a time when some countries are vigilant over Chinese investment, citing national security concerns. The market's major concern is whether the decision signals a shift in Brazil's attitude toward Chinese investment.
Source: Global Times | 2018/2/12 22:23:40

Energy efficiency key for China's ecological goals

China will step up reforms “of the system for developing an ecological civilization,” an important point raised in the 19th National Congress of the Communist Party of China. This is of pivotal significance for green growth. To proceed with ecologically conscious development, the country needs to put a ceiling on the use of resources, set minimum environmental quality requirements, draw an uncrossable “red line” for environmental protection, and put in place a baseline for energy safety. Such efforts will be the mainstays of the nation's ecological civilization push.
Source: Global Times | 2018/2/12 21:58:39

Cash becoming more prized asset as market turmoil dents even safest govt debt

Deciding whether to hold bonds or stocks these days is akin to choosing between the frying pan and the fire. Rising US Treasury yields helped trigger an equity market decline that last week officially became a correction. Given that fiscal and monetary policies could hurt even the safest government debt, cash may become the most prized of all assets in the selloff.
Source: Global Times | 2018/2/12 21:53:39

Africa will disdain responding to West's China smears

Recently, French newspaper Le Monde reported that China had hacked the African Union (AU) headquarters' computer system and downloaded confidential data, but it claimed that because of the aid China has given, AU officials dared not speak out.
Source: Global Times | 2018/2/12 0:03:40

Direct shipment of Pakistan seafood to Xinjiang a milestone in connectivity

The first shipment of about 1,150 kilograms of seafood imported directly from Pakistan has arrived in Urumqi, Northwest China's Xinjiang Uyghur Autonomous Region, Pakistani newspaper the Express Tribune said. The China-Pakistan Economic Corridor (CPEC) has received an increasing amount of attention due to its role in promoting infrastructure facilities in the South Asian country. But now, detailed plans are necessary to upgrade the “software” such as quarantine services to open a green channel for imports from Pakistan.
Source: Global Times | 2018/2/12 0:03:39

US yet to suffer full effect of damaging Trump policies

US President Donald Trump and Secretary of the Treasury Steven Mnuchin have promised an economic miracle. They argue that when the US adopts their policies, it will consistently achieve annual economic growth above 3 percent, or even above 4 percent. After a year of being in charge, pushing hard on deregulation, and getting what it wanted in terms of tax cuts, how is the Trump team doing?
Source: Global Times | 2018/2/11 21:33:40

Pizza Hut performance less palatable than KFC's, but Yum China still gaining in size

Look past the iffy pizza and Yum China remains delicious. The mainland operator of KFC recently reported its first full set of annual results since spinning off from parent Yum Brands in late 2016. The smaller Pizza Hut business is still a work in progress, but shows signs of improvement. Meanwhile, the $17 billion parent looks like a straightforward, fast-growing and fairly cheap bet on the rise of the Chinese consumer.
Source: Global Times | 2018/2/11 21:33:39

China must reevaluate Central Asian energy supply

The sharp drop of liquefied natural gas (LNG) shipments through a key Central Asian pipeline network has put the already-tight domestic LNG supply situation to the test.
Source: Global Times | 2018/2/8 22:23:40

Apple's drive to utilize big data resources in China can be a winning outcome for both sides

Apple's plans to build a second data center in the Chinese mainland are expected to give fresh impetus to the iPhone maker, which plans to rely on big data to boost its prospects in the nation.
Source: Global Times | 2018/2/8 22:18:40

Trump slowly pushing US toward kleptocracy

The US certainly has a different kind of president from what it is used to have. What distinguishes Donald Trump from his predecessors is not just his temperament and generalized ignorance, but also his approach to policymaking
Source: Global Times | 2018/2/8 22:13:39

Alibaba's reunion with Ant clears way for IPO, concludes previous controversy

Alibaba's reunion with Ant Financial is heartening. The reshuffle, unveiled late last week, sees Jack Ma's $474 billion e-commerce goliath take 33 percent of the financial technology group. That simplifies the duo's relationship, draws a line under a controversy, and heralds a likely flotation.
Source: Global Times | 2018/2/8 22:10:54

US market tumble ominous for Trump's policies

The US stock market rout has triggered fears that the bull run that followed the 2008-09 financial meltdown will be derailed. Affected by the US tumble, global markets fell, with the Shanghai Composite Index declining more than 1.8 percent on Wednesday.
Source: Global Times | 2018/2/7 22:48:41

Solving inherent problems can help mainland stocks find fair value

The weak performance of stocks on the Chinese mainland in the past two days could be a wake-up call that the domestic equities market is vulnerable to a short-term correction.
Source: Global Times | 2018/2/7 22:48:40

China, S.Korea can lead global smart city trend

South Korea is planning to develop Sejong and Busan into smart cities by 2023 as an exploration of smart city models, according to media reports in the country. Nowadays, all major countries are competing to build smart cities, with China, Japan, South Korea, Malaysia and Singapore all making efforts to build smart cities based on their respective national conditions.
Source: Global Times | 2018/2/7 22:43:41

Modest but achievable target makes sense for BNP Paribas as rivals struggle

Europe's recovering economy can help BNP Paribas clear a low return bar. Aiming for a return on equity (ROE) of 10 percent – roughly in line with the French bank's cost of capital – over the next two years might suggest a lack of ambition. Crucially, however, the target also looks achievable at a time when many rivals appear unable to escape from single-digit returns.
Source: Global Times | 2018/2/7 22:43:40