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Triple-A ratings are a blow for those who suggested AIIB would merely serve China's global ambitions

Summer is an off-season typically for international organizations. But the Asian Infrastructure Investment Bank (AIIB) gained a rich harvest during this summer, by receiving its long-awaited triple-A credit ratings from Moody’s, Fitch and Standard & Poor’s, the “big three” global rating agencies. Moody’s said on Monday that the AIIB credit profile is underpinned by “robust capital adequacy, a strong governance framework, and solid shareholder support, notwithstanding the absence of a lengthy track record of operations.”
Source: Global Times | 2017/9/5 23:48:39

Stada buyout shows that in Germany, doing nothing can be best course of action

The investor who snoozes, loses. But maybe not in Germany. The takeover of drug maker Stada by buyout firms Bain and Cinven is playing out in a way that suggests sometimes the best thing to do is nothing at all. That sets an unfortunate precedent in corporate deal making.
Source: Global Times | 2017/9/5 23:43:39

BRICS build on infrastructure to aid global economy

The BRICS countries are convening in Xiamen, Southeast China’s Fujian Province, for their annual summit. A consensus was reached at the beginning of cooperation among the BRICS to emphasize the issue of infrastructure, which is the biggest obstacle to the economic and social development of many emerging market countries.
Source: Global Times | 2017/9/4 22:38:39

Lattice ruling would hinder China, US efforts to achieve their economic goals

Whether US President Donald Trump will follow the recommendation of a federal panel regarding the sale of an American technology company will give a clue as to how tough the US regulatory environment will be for Chinese investment in its chip sector.
Source: Global Times | 2017/9/4 22:33:39

Is China entering a new cycle of economic growth?

Talk of a new cycle of economic growth in China surfaced earlier this year as various indicators showed signs of recovery. This then evolved into a heated debate over the prospects for the Chinese economy following the release of better-than-expected GDP growth data of 6.9 percent for the first half of the year. Here are some of the viewpoints expressed by economists about it.
Source: Global Times | 2017/9/4 22:08:40

New boss seems wrong choice to guide scandal-hit Wells Fargo out of trouble

Wells Fargo’s supersized scandal magnifies the spotlight on its chief executive. An outside review that examined a longer timeframe uncovered another 1.4 million potentially fake accounts at the US mega-bank with a $2 trillion balance sheet. With the board of directors and sales practices already grudgingly refreshed, boss Tim Sloan, a 30-year Wells Fargo veteran, sticks out as a vestige of the old regime.
Source: Global Times | 2017/9/4 22:08:39

BRICS can gain by working with China through B&R

Established formally in 2009, the BRICS group – the five major developing economies – has demonstrated under the wise leadership of China that is possible to create a global economic platform. This weekend, the BRICS countries convened in Xiamen, Southeast China’s Fujian Province, aiming at deliver an effective integration and use of global resources toward better economics.
Source: Global Times | 2017/9/3 21:18:40

Divergence between China and the US in globalization signals uncertainty for world economy

Amid the co-existence of globalization and protectionism, China and the US, the world’s top two trading nations, are headed in completely opposite directions in world trade, which poses great uncertainties for global governance.
Source: Global Times | 2017/9/3 21:13:40

Unity among BRICS can benefit emerging economies

People all over the world are paying close attention to the BRICS Summit meeting in Xiamen, and there are high expectations that the BRICS countries will provide new momentum to boost the global economy.
Source: Global Times | 2017/9/3 21:08:40

China’s banks storing up trouble with continued heavy lending for home purchases

China’s big banks are digging deeper into the housing market.
Source: Global Times | 2017/9/3 21:08:39

Economic plight of Northeast China sparks debate

Editor’s Note: How to revitalize Northeast China’s struggling economy has been the subject of intense debate in recent years. A 300,000-word policy proposal whose lead author was prominent domestic economist Justin Lin Yifu said that Northeast China’s Jilin Province should develop labor-intensive industries as the first step toward economic revival. That view set off another round of heated debate among economic experts and scholars. Here are some extracts of their viewpoints.
Source: Global Times | 2017/8/31 22:13:39

Working together can help BRICS members expand their engagement with Africa

Will the BRICS serve as economic drivers in Africa? It depends on the synergy force created when the BRICS countries – Brazil, Russia, India, China and South Africa – work in unison in their engagement with African countries.
Source: Global Times | 2017/8/31 22:13:39

BRICS success needs positive attitude from India

As the 2017 BRICS Summit draws closer, many are wondering how China, which holds the BRICS presidency in 2017, can contribute its wisdom to global governance amid the slow global economic recovery. As early as in March this year, Foreign Minister Wang Yi mentioned several points regarding BRICS cooperation, including exploring modalities for “BRICS Plus” to widen the circle of members.
Source: Global Times | 2017/8/31 20:48:39

Hurricane damage pressures Trump to act on insurance, recognize climate change

The impact of Hurricane Harvey intensifies an already brewing storm over US federal flood insurance. The Texas disaster, which President Donald Trump is seeing firsthand on Tuesday, will put the government coverage program, already $25 billion in debt, further under water. Among other snags, the subsidized backstop insurance encourages building in high-risk areas.
Source: Global Times | 2017/8/31 20:38:39

Puzzling EU actions will really disappoint China

Italy, France and Germany have jointly asked the European Commission to tighten existing rules to give EU member states greater flexibility to ban foreign takeovers of European companies, according to recent media reports. It goes without saying that these rules would target Chinese investment.
Source: Global Times | 2017/8/30 21:43:40

India’s tax ruling on Hutchison-Vodafone deal would scare away Chinese investors

India’s “tax attack” against a unit of Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings, based on untenable grounds, will inevitably backfire and dent New Delhi’s efforts to lure foreign investors, Chinese businesses in particular.
Source: Global Times | 2017/8/30 21:43:39

Logistics sector could become new growth driver

In the dining and taxi industries, the ripple effect of China’s sharing economy boom has been felt for quite some time, with food delivery and ride-hailing services now all the rage. But the country’s logistics market, the world’s largest, has not yet felt the benefit of the sharing economy.
Source: Global Times | 2017/8/30 21:38:39

Inadequacy of Trump’s energy strategy for US exposed by tropical storm Harvey

Tropical Storm Harvey is exposing flaws in Donald Trump’s energy policies. The president wants to make the US a dominant fuel exporter by promoting coal and opening up federal lands for oil drilling. But the deluge in Texas has disrupted 16 percent of the nation’s refining capacity, according to Goldman Sachs research. Tackling climate change and hardening energy infrastructure should take priority over Trump’s pet projects.
Source: Global Times | 2017/8/30 21:38:39