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Economic potential abounds

As socialism with Chinese characteristics has entered a new era, the Chinese economy is expected to be rebranded as an innovative and well-balanced powerhouse that fills its people with pride in domestically developed products and solutions. This is certainly a reimagining of the economy that has over the past year made impressive progress on multiple fronts including consumption and technology, but that has yet to serve as an example of quality growth. With a focus on high-quality growth reverberating throughout the just-concluded annual tone-setting Central Economic Work Conference, which called for efforts to develop the economy with “Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era,” more inspiring institutional and policy reforms are in the offing.
Source: Global Times | 2017/12/22 0:26:04

Blue-collar market offers untapped potential

While graduate employment has drawn a lot of attention with regard to China's labor situation, it's worth noting that blue-collar jobs are still the mainstay of the country's job market. That's a reality that shouldn't be ignored as domestic recruiting sites explore ways to expand their business, preferably through a shift toward higher-end talent.
Source: Global Times | 2017/12/21 23:58:39

Deficient management core reason for fatal high-speed rail crash in US

After the deadly Amtrak derailment in the US state of Washington, US President Donald Trump tweeted that the accident underscores the need for his infrastructure plan. But it's misleading to talk about infrastructure without mentioning the deficient management system, the core reason behind the crash.
Source: Global Times | 2017/12/21 23:58:14

Global debt issue must be addressed

Economic growth is accelerating across most of the world. Yet the world's total gross debt-to-GDP ratio has reached nearly 250 percent, up from 210 percent before the global economic crisis nearly a decade ago, despite post-crisis efforts by regulators in many important economies to drive the banking sector to deleverage. This has raised doubts about the sustainability of the recovery, with some arguing that a rise in interest rates could trigger another global crisis. But how likely is that to happen?
Source: Global Times | 2017/12/21 23:53:40

Asian regulators hope to contain cryptocurrency risk but may be fanning flames

Bitcoin has found unlikely allies in Asia: regulators. Japan and South Korea now make up some half of global trading in the $300 billion market. Tokyo has officially recognized Bitcoin and cryptocurrency exchanges, and Seoul is mulling doing so as well. Such regulation is an effort to contain risk but also encourages acceptance and increases the allure of this untouchable cash.
Source: Global Times | 2017/12/21 23:48:40

China needs to embrace cryptocurrencies trend

On December 17, bitcoin futures started trading on Chicago Mercantile Exchange (CME), the world's largest derivatives exchange. Since the 0.1 bitcoin test version was released in 2009, the price has been on a roller coaster ride. But it's soared 22 million-fold since the first trade in 2010.
Source: Global Times | 2017/12/20 23:53:40

Expanding exports of US farm products wrong way to cut trade deficit with China

The US merchandise trade deficit with China has reportedly risen to its second-highest level on record. This scenario might trigger renewed complaints and protectionism in the US and increase the pressure on bilateral ties.
Source: Global Times | 2017/12/20 23:53:39

Coming slowdown in the economy will be measured

The tightening of regulatory oversight on China's financial sector and the curbs on shadow banking growth in particular may lead to more tepid performance in the domestic economy and financial markets next year.
Source: Global Times | 2017/12/20 23:48:39

Trump promised much-needed investment in infrastructure, but hasn't delivered

Every week is infrastructure week, the wags in Washington say. But the effort promised by President Donald Trump to revitalize everything from airports to schools to toll roads keeps being pushed back. It will still be up in the air in 2018.
Source: Global Times | 2017/12/20 23:44:37

Summit part of US drive to balance China, India

Ivanka Trump appeared as the President Adviser at the Eighth Global Entrepreneurship Summit in India's fourth-largest city, Hyderabad. Her speech on November 29 showed her personal charm to the fullest.
Source: Global Times | 2017/12/20 0:33:39

Chinese investors need greater clarity on UK trade, investment position in post-Brexit era

As the UK looks to strengthen ties with China after leaving the EU, China hopes that the country will wrap up its Brexit negotiations as soon as possible to end uncertainty over potential economic cooperation.
Source: Global Times | 2017/12/20 0:33:39

CPTPP, RCEP can build cooperative partnership

It has seemed since the Trans-Pacific Partnership (TPP) was rebranded as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in November that the CPTPP has had an ambition to take on the Regional Comprehensive Economic Partnership (RCEP).
Source: Global Times | 2017/12/20 0:28:39

Mobike, Ofo left standing after shared bike crash, with taxi mergers in the offing

China's shared bikes are ready to merge into the car lane. A slew of two-wheeled ventures have exhausted investor cash and municipal patience. Left standing will be market leaders Mobike and Ofo, both valued at over $1 billion. Instead of uniting in 2018, though, they will tie up with the likes of taxi app Didi Chuxing.
Source: Global Times | 2017/12/20 0:03:39

China's ports provide vision of future offered by B&R

Ports have always been the lifetime of trade and economic development, cultural intercourse and social interaction. For far too long, in too many places (both developing and even in some developed countries) the maintenance, expansion and upgrading of our ports and related facilities, has been neglected.
Source: Global Times | 2017/12/18 22:28:40

Excessively high valuations for Chinese Internet companies raise specter of dotcom bust

While Chinese Internet-related IPOs have been getting high valuations in overseas markets, domestic regulators shouldn't forget the dotcom bubble of the late 1990s. Any repeat of that spectacular boom and bust may backfire and overshadow the development of China's Internet sector.
Source: Global Times | 2017/12/18 22:23:40

China thrives as the West suffers 'new mediocre'

In a recent article, Justin Yifu Lin, former chief economist of the World Bank, argued that the center of world economic thinking would eventually pass to China. This is already confirmed by global trends.
Source: Global Times | 2017/12/18 22:18:40

Crisis-hit Sunac tapping market to lay foundations for more stable balance sheet

A chastened Tianjin-based property developer is laying the foundations to build a better balance sheet. Sunac China Holdings plans to raise $1 billion by selling discounted shares. Thanks to a 380 percent rise in the company's share price over the last 12 months, it's a good time to tap the market for cash. Given how aggressive Chairman Sun Hongbin has been, though, he probably will need to do so again.
Source: Global Times | 2017/12/18 22:13:40

NEVs' future rests on cost-effective lithium mining

As the market for new-energy vehicles (NEVs) booms, lithium resources are being stockpiled around the world. If electric cars come to dominate the roads, lithium supplies will have a hard time keeping up with demand.
Source: Global Times | 2017/12/17 23:58:39