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Tech enthusiasm keeping Hong Kong bourse buoyant amid Western IPO wobbles

Tech fervor is buoying Hong Kong's new-issue market. Investors have snapped up shares in Razer, a maker of keyboards and mice for gamers, and China Literature, the electronic publishing arm of locally listed heavyweight Tencent.
Source: Global Times | 2017/11/7 22:03:39

Competition, cooperation exemplify China-India ties

As the two fastest-growing major economies in the world, China and India are always in the spotlight of global markets. As they both compete and cooperate, the outlook for their economic and trade relationship is also getting much attention.
Source: Global Times | 2017/11/6 23:33:39

Proposed electricity super grid can bring real connectivity to Asian economies

The plan for a massive energy “super grid” crossing several countries in Asia has been given a boost after receiving an endorsement from the head of South Korea's state-run power utility, the Financial Times reported recently. Could this serve as a prelude for Japan to cooperate with China in its Belt and Road (B&R) initiative?
Source: Global Times | 2017/11/6 23:33:39

There is strong economic case for B&R initiative

Since 2013, China has been pursuing its Belt and Road (B&R) initiative, which aims to develop connectivity among more than 60 countries and regions across Asia, Europe and Africa. Critics worry that China may be so focused on expanding its geopolitical influence to compete with the likes of the US and Japan that it may pursue projects that make little economic sense. But, if a few conditions are met, the economic case for the initiative is strong.
Source: Global Times | 2017/11/6 21:23:39

Bank of England rate hike signals belief that Brexit will permanently stifle growth

Raising interest rates is typically a sign of economic strength. The Bank of England's decision to increase official UK borrowing costs for the first time in a decade has a more dismal logic. Governor Mark Carney and his fellow rate-setters have concluded that leaving the European Union will permanently lower Britain's growth prospects.
Source: Global Times | 2017/11/6 21:23:39

China takes rebalancing commitment to a new level

The Chinese economy is at a critical juncture. In some respects, this is very reminiscent of the stark challenges China faced in the late 1970s. The reforms and opening up of Deng Xiaoping were a courageous response to those tough circumstances that put China on an unprecedented path of growth and development. But nearly four decades of extraordinary progress cannot be taken for granted in looking to the future. That is especially the case as China now enters the long dreaded zone of the “middle-income trap” – hitting a threshold of economic development that has stymied most nations. While today's circumstances are not nearly as dire as they were in the late 1970s, the challenge of sustainability is equally profound.
Source: Global Times | 2017/11/5 22:08:40

How will Trump pick for Fed chair affect China?

Speculation over the new Federal Reserve chair can now end as Jerome H. Powell, a current member of the Fed's board of governors, was revealed on Thursday to be President Donald Trump's pick for the US central bank's top job. The Fed insider will replace Janet L. Yellen, who would have been re-nominated for a second term if Trump had followed tradition. To provide a glimpse into China's attitude toward Powell's nomination, the Global Times gathered the views of several Chinese observers.
Source: Global Times | 2017/11/5 22:08:39

Hedge fund founder's gift to Chicago University points up need for diverse views

Oh the irony. Chicago University is getting a $125 million gift from hedge-fund founder Ken Griffin. The “Chicago School” of economics, as it's called, leans heavily toward free and efficient markets. Citadel boss Griffin's name and cash – earned in a business that depends on markets being inefficient – will now endow the university's economics department.
Source: Global Times | 2017/11/5 21:48:39

Despite controversy, China's expanding presence in Africa aids continent's growth

China's increasing presence in Africa has not been without controversy. Last week, West Africa's Cote d'Ivoire completed the installation of its largest hydropower station, which was financed by a low-interest loan from the Export-Import Bank of China and built by State-owned Sinohydro Corp.
Source: Global Times | 2017/11/5 21:43:40

China's priorities must suit changing times

After reading through the economic-related sections of General Secretary of the Communist Party of China (CPC) Central Committee Xi Jinping's report to the 19th National Congress of the CPC, we can sum it up in one sentence: development is still the top priority, with the means and focus moving with the times.
Source: Global Times | 2017/11/2 22:33:39

Energy cooperation an area where Beijing, Washington can work together for mutual gains

Despite uncertainties over policy affecting high-technology fields, China and the US are likely to see tangible results in energy trade during US President Donald Trump's November 8 to 10 state visit to China.
Source: Global Times | 2017/11/2 22:28:40

Yuan set to be fully convertible in five years

China has entered a new era in building socialism with Chinese characteristics. In the economic arena, the new era means China will be more open and the economy will be more vibrant. The next five years will also see China further open up its financial sector and the changes in the financial system will be unprecedented.
Source: Global Times | 2017/11/2 22:28:39

StanChart recovery on track but shareholders still waiting for dividend payouts

Resurgence is proving more difficult than recovery for Standard Chartered Chief Executive Bill Winters. The former JPMorgan executive has shored up the Asia-focused lender's balance sheet, shed risky loans, slashed costs and returned it to profitability. Restarting meaningful dividend payments is proving a tougher task.
Source: Global Times | 2017/11/2 22:18:40

More needed to help SOEs gain world role

State-owned enterprises (SOEs), often seen as China's national champions, are poised to become global champions as the world's second-largest economy enters a new era, but more efforts are needed to facilitate this leap.
Source: Global Times | 2017/11/1 21:33:40

Expanding US trade with India will face market barriers, underdeveloped conditions

US President Donald Trump is reportedly scheduled to meet Indian Prime Minister Narendra Modi ahead of the East Asia Summit in Manila, although the former will skip India during his November 3-14 Asia tour. Initiatives to improve connectivity in the Asia-Pacific region will be one of the key topics during the Trump-Modi meeting, according to a report from the Hindustan Times on Sunday.
Source: Global Times | 2017/11/1 21:33:39

China faces hard battle for manufacturing transition

Manufacturing has been a pillar industry of China's recent development, but the cost advantage of the domestic industry has been on the wane for some time. Manufacturers of a number of consumer textiles and electronics products have been moving to other developing countries with lower labor costs, such as Bangladesh. Another threat comes from the fact that the US and other developed countries have recognized the importance of the industry and are doing more to support their domestic manufacturers after a long period of neglect, in order to persuade them to move their factories back home.
Source: Global Times | 2017/11/1 21:28:39

UK may need stick rather than carrot to get firms to deal with gender pay gap

British employers are proving slow to comply with rules that require them to disclose differences between how much they pay men and women. They may be even slower to close that gap if the laudable push for transparency is not backed up by the threat of eventual sanctions.
Source: Global Times | 2017/11/1 21:23:39

Lack of authoritative leadership hinders India's reform

Why is India having trouble promoting economic reform? It may be due to the political ecology of this country. India lacks a centralized authority similar to that of China, led by the Communist Party of China (CPC), which is the driving force of the nation's rapid economic development.
Source: Global Times | 2017/10/31 22:48:40