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Trade deal will strengthen China-Panama relations

China and Panama began talks over a free trade pact in July, only one year after the two nations established diplomatic relations. The first round of negotiations took place in Panama City where the two sides exchanged ideas about topics related to the pact and the talks progressed well. The second round of talks is scheduled to take place in Beijing soon.
Source: Global Times | 2018/8/23 20:13:41

Italy's bond fix plan is just a covert bailout designed to avoid hard budget decisions

Italy's latest bond fix idea resembles a covert bailout. The economic spokesman of the ruling League Party, Claudio Borghi, says the euro will collapse unless the European Central Bank (ECB) limits the gap between eurozone countries' bond yields, and has suggested 150 basis points as a reasonable maximum. The proposal risks giving big spenders free rein to dodge hard budget decisions.
Source: Global Times | 2018/8/23 20:13:40

Hidden danger of inflation bears close watching amid deepening trade dispute with US

Amid escalating trade friction that is creating market uncertainty, no one should underestimate the inflation pressure faced by the Chinese economy.
Source: Global Times | 2018/8/22 22:18:40

Africa seeks constructive cooperation with China

With the 2018 Beijing summit of the Forum on China-Africa Cooperation (FOCAC) scheduled for September 3-4, China is gearing up to receive delegates from the African continent to discuss progress in the strategic relationship and map out the future of a win-win model that is at the core of China's engagement internationally.
Source: Global Times | 2018/8/22 20:28:40

Yuan depreciation not a tactic amid trade tension

Under the current economic situation, the yuan to US dollar exchange rate can be stabilized at around 7 per the US dollar. Even if it may weaken from that level, approaching 7.5, it will eventually come back to the average value. This judgment is based on the Chinese economy, which can keep a growth rate of 6-7 percent, an impressive level in a world economy full of uncertainties.
Source: Global Times | 2018/8/22 19:58:41

Maduro's new economic strategy will enlarge gaping hole in Venezuela's finances

Venezuela's President Nicolas Maduro is rearranging the economy's deckchairs. A plan he announced on Friday night to devalue the bolivar, peg it to an obscure state-backed cryptocurrency and raise the minimum wage is likely to widen the gaping hole in the OPEC member's finances.
Source: Global Times | 2018/8/22 19:58:40

US luxury brands may fall victim to Chinese consumer sentiment soured by trade conflict

Global luxury brands are investing again in China, chasing cash-rich millennials in second- and third-tier cities despite a slight slowdown in the Chinese economy, Reuters reported.
Source: Global Times | 2018/8/21 22:33:40

Turkish crisis offers lesson for emerging markets

Turkey's economic crisis may have been triggered by crippling tariffs on steel and aluminum imposed by the US, but there is a much deeper reason for the collapse of the Turkish lira, and it's one that other emerging markets must watch out for.
Source: Global Times | 2018/8/21 22:23:41

China, Mongolia see great potential for cashmere trade

Mongolia has long pushed to diversify its economy and increase the economic viability of its livestock sector, particularly its wool and cashmere business. This is also important for China. Although China sits atop the global cashmere production rankings, well ahead of second-placed Mongolia in output terms, Chinese traders are still the biggest purchasers of Mongolian cashmere. During the 18th Shanghai Cooperation Organization Summit in the coastal city of Qingdao, East China's Shandong Province in June, Mongolian President Khaltmaagiin Battulga proposed cooperating with China in areas including the cashmere industry as the two countries account for 95 percent of the world's market for raw cashmere, according to the Office of the President of Mongolia.
Source: Global Times | 2018/8/21 21:03:41

Greater powers for US deal review body could put skids under Tesla buyout plans

Tesla Chief Executive Elon Musk's idea of taking the company private faces risks beyond the financial and disclosure-related kind. Saudi Arabia's help in a buyout could spur national-security scrutiny under the newly expanded powers of the Committee on Foreign Investment in the US (CFIUS).
Source: Global Times | 2018/8/21 21:03:40

Can China isolate itself from global financial risks?

The Turkish lira crisis has continued to worsen, shaking global stock markets as well. Asian and emerging markets were damaged the most, and the damage also spread to the US stock market.
Source: Global Times | 2018/8/20 23:03:39

Turkish economic crisis shows value of maintaining a competitive industrial sector

What enlightenment can the Turkish lira crisis offer for China and other emerging economies? Amid global uncertainties, the hollowing out of its industrial sectors makes Turkey vulnerable to external economic pressures and challenges.
Source: Global Times | 2018/8/20 22:58:40

Right approach needed for China, Thailand to develop greater B&R-EEC cooperation

Thailand's Eastern Economic Corridor (EEC) Development Plan, the country's largest-ever infrastructure and industrial scheme, could be well aligned with China's Belt and Road (B&R) initiative, if the two countries can work together to address some of the challenges facing the alignment of the projects.
Source: Global Times | 2018/8/20 21:03:39

Multilateral institutions vital in new global order

From the end of World War II to the mid-2010s, economic globalization progressed relentlessly through expanded trade, proliferating capital flows, faster (and cheaper) communication, and, to a lesser extent, human migration. Yet, even as these linkages have deepened and multiplied, the global economy has remained fundamentally a collection of national economies, each embedded in national politics. This is now changing.
Source: Global Times | 2018/8/20 20:58:39

Trade conflict will hit middle class families, poor people hardest

As expected, a growing group of Americans – including agricultural ranchers, fruit growers, livestock farmers, car and ship makers, LNG developers and port operators – have found themselves in the crosshairs of the trade conflict.
Source: Global Times | 2018/8/19 21:43:39

Development of strategic, emerging industries can be bargaining chips in trade conflict

South China's Guangdong Province recently released a plan aiming to realize 150 billion yuan ($21.8 billion) worth of investments annually in strategic and emerging industries during the 2018-2020 period. Amid escalating trade friction with the US, China's industrial development and upgrading will determine the country's core competitiveness and the result of the trade dispute.
Source: Global Times | 2018/8/19 21:38:40

Looming demographic shock requires quick action

The new Chinese zodiac postage stamp issued by China Post, depicting a happy pig family with three piglets, has stirred discussion about whether the family planning policy will be abolished.
Source: Global Times | 2018/8/19 21:28:40

Federal Reserve shows worrying disregard for history

Economic developments over the past 20 years have taught – or ought to have taught – the US Federal Reserve four lessons. Yet the Fed's current policy posture raises the question of whether it has internalized any of them.
Source: Global Times | 2018/8/19 20:08:40