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Import power represents an economic weapon

Import capacity is power. In 2010, when I witnessed then 52-year-old Toyota CEO Akio Toyoda being queried over Toyota's quality scandal in the US House of Representatives, I drew this conclusion.
Source: Global Times | 2017/12/7 22:38:40

Sino-Venezuelan lawsuit shows bilateral relationship based on commercial principles

Some media outlets are interpreting a lawsuit filed by Sinopec in the US against Venezuelan state oil company PDVSA as a sign of China's growing impatience over the ailing economy in Venezuela, but the case just reflects a normal bilateral trade relationship.
Source: Global Times | 2017/12/7 22:38:39

Preparations needed to mitigate effects of US tax cut

Following the tax overhaul recently approved by the US Senate, the corporate tax rate in the US will drop substantially, personal income tax will also be reduced, a number of tax systems will be simplified and a one-time tax will be levied at a lower rate on American companies' transfer of overseas assets.
Source: Global Times | 2017/12/7 22:33:40

As UK moves closer to Brexit cliff edge, only enlightened obfuscation can bring deal

Obfuscation offers the only hope of a breakthrough in deadlocked Brexit talks. A plan for Northern Ireland to comply with some EU rules after the UK leaves the bloc has met with opposition in Belfast and demands for similar treatment elsewhere. Prime Minister Theresa May's best hope is to fudge tough decisions, and use the threat of a chaotic exit – or another election – to quash dissent.
Source: Global Times | 2017/12/7 22:28:40

China's 'comatose' New Third Board needs shake-up

The National Equities Exchange and Quotations, which is China's so-called New Third Board, may be a microcosm of the nation's technological innovation. Hundreds of billions of yuan in paper wealth have vanished, causing losses for many brokers, public funds and private equity firms. Many of them wish they had never heard of this market.
Source: Global Times | 2017/12/6 20:58:39

More involvement needed by Chinese SMEs to generate employment in B&R markets

As Chinese companies' mega infrastructure projects encounter setbacks in some neighboring countries, it may be time for China to put more emphasis on encouraging the overseas development of its small and medium-sized enterprises (SMEs), which could provide a breakthrough for the Belt and Road (B&R) initiative.
Source: Global Times | 2017/12/6 20:53:39

US needs to put more into trade ties with China

On November 24, China decided to cut the import tariffs on 187 consumer goods, starting from December 1, 2017. The reduction covers a wide range of consumer goods such as food and baby milk formula. The average tax rate on these items will drop from 17.3 percent to 7.7 percent.
Source: Global Times | 2017/12/6 20:28:39

Jack Ma enlarges his payments peloton as Alipay battle with Tencent heats up

Jack Ma is pedaling headlong into China's bicycle-sharing sector. Alibaba affiliate Ant Financial just hedged its investment in Ofo with a $300 million stake in Shanghai-listed Youon. That's another 80 million potential users for its Alipay system. The move reflects rising stakes in a cutthroat battle with Mobike, backed by payments rival Tencent.
Source: Global Times | 2017/12/6 20:23:39

Recent child abuse scandals show need for tighter preschool education rules

Not long after a case of child abuse at a nursery in Shanghai for online travel agency Ctrip employees' children, another similar scandal emerged at an RYB Education kindergarten in Beijing's Chaoyang district. Although it was hard to separate the facts from the rumors, there's no doubt that child abuse is a serious issue requiring in-depth study in China.
Source: Global Times | 2017/12/5 21:18:40

Latest pay row shows bank bosses' huge remuneration is still a touchy issue in UK

The debate over bankers' pay is back with a vengeance in Britain. In one corner stands UBS Chief Executive Sergio Ermotti, who suggested that criticism of high remuneration is driven by envy. On the other, leader of the opposition Labour party Jeremy Corbyn, who ramped up attacks on bankers after a sell-side analyst criticized his policies. The row shows the enduring costs of bank excess.
Source: Global Times | 2017/12/5 21:18:39

China should beware of spillover effects of US tax cuts

The US Senate approved the most sweeping tax cuts in three decades in a 51-49 vote early on Saturday morning, a significant step for the Trump administration's goal of cutting taxes. As the Senate version differs slightly from that passed on November 16 by the House of Representatives, the two chambers need to reconcile their respective versions before a final bill is signed into law.
Source: Global Times | 2017/12/5 20:33:41

Crackdown on illegal overseas fund movements key to avoiding 'Minsky Moment' in China

While maintaining strict capital controls, China should also step up its crackdown on underground banking and other means of evading limits on capital outflows, all of which are crucial in avoiding a “Minsky Moment.”
Source: Global Times | 2017/12/5 20:33:40

China's 'development dividend' can help Africa

Most African countries have a multiparty system as a result of the third wave of democratization after the Cold War.
Source: Global Times | 2017/12/4 21:18:39

Tax cuts do little to boost US manufacturing and pose no threat to China's cost advantage

The tax bill passed by the US Senate over the weekend has little chance to restore the US' status as a leading manufacturing power and bring back factory jobs, although certain advanced manufacturing sectors in which the US has a comparative advantage are likely to get a boost.
Source: Global Times | 2017/12/4 21:18:39

Canada should seize opportunity for FTA with China

Canadian Prime Minister Justin Trudeau arrived in China on Sunday on a five-day official visit. Given that the US is implementing trade protectionism worldwide and trying to revise the North American Free Trade Agreement (NAFTA), Trudeau's China trip offers a good opportunity to promote economic cooperation between China and Canada, and possibly to pursue talks on a China-Canada Free Trade Agreement (FTA).
Source: Global Times | 2017/12/4 21:13:39

Beer giants thirsty for potential in Vietnam but local brewers may be overvalued

Global giants are looking at Vietnam through beer goggles. The young, hops-happy economy is alluring for big brewers like Asahi and Anheuser-Busch InBev. Traditional markets are as dull as a flat pint. But entrenched interests, tech-like multiples and the mixed experiences of early entrants should caution them to enjoy responsibly.
Source: Global Times | 2017/12/4 21:13:39

Chinese firms must take longer-term view on Africa

In recent years, owing to the Belt and Road (B&R) initiative and 10 major programs announced by China in 2015 to boost China-Africa cooperation, sub-Saharan Africa has become a hot investment destination for Chinese businessmen.
Source: Global Times | 2017/12/3 23:13:28

India shouldn't be overly nervous about China-Maldives free trade agreement

The free trade agreement (FTA) that the Maldives signed last week with China has attracted a lot of attention, with concerns being expressed by Indian media about China's growing presence in the Indian Ocean.
Source: Global Times | 2017/12/3 23:08:39