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Yulong Eco-Materials diversifies with $75m art deal but new direction will be risky

A Chinese company is looking beyond trash for treasure. NASDAQ-listed Yulong Eco-Materials, which recycles bricks and concrete, has decided to become an art investor instead. It just acquired Michelangelo's “Crucifixion” for $75 million after restructuring its business model last month by offloading the waste hauling operation to some of its directors and issuing stock to buy a rare sapphire. It's a risky form of creative destruction.
Source: Global Times | 2018/11/28 19:18:40

Debt trap label hides anxieties of developed nations

The “debt trap” allegation against China was raised again recently. When delivering a speech at the APEC Economic Leaders' Meeting in Port Moresby, Papua New Guinea, US Vice President Mike Pence claimed that China's assistance to Pacific Island countries has caused debt burdens for the recipients.
Source: Global Times | 2018/11/27 21:23:41

India unprepared to realize aim of replacing China as industrial power amid trade dispute

India's intention of gaining from the trade dispute between China and the US will likely prove to be pie in the sky, as the South Asian nation isn't ready to take advantage of any such opportunity.
Source: Global Times | 2018/11/27 21:18:40

IMF pressure won't weaken Pakistan's CPEC commitment

Pressure and challenges from the IMF regarding debt woes over the China-Pakistan Economic Corridor (CPEC) won't compromise Pakistan's commitment to the CPEC.
Source: Global Times | 2018/11/27 20:13:41

May not convincing anyone with threats of disaster if Brexit deal isn't voted through

Flawed parallels with the financial crisis won't save Theresa May's Brexit plan. Back in 2008, panicking investors helped the US government force its bank bailout through Congress at the second time of asking. The British prime minister might hope for a similar response if parliament rejects her deal to leave the European Union. But a replay is unlikely.
Source: Global Times | 2018/11/27 20:13:40

China, Morocco need ways to take trade to new highs

As Morocco is preparing to celebrate a milestone in its engagement with China after 60 years of close diplomatic and economic collaboration, it is important to reflect on the present with an eye toward the future.
Source: Global Times | 2018/11/26 20:38:39

Beijing's cooperation with Seoul, Pyongyang in rail project key to connecting peninsula to wider world

China can provide strong support for a joint survey of the inter-Korean railway if needed. The project is likely to be a good starting point in promoting economic integration. However, we need to avoid excessive optimism, as there are challenges ahead.
Source: Global Times | 2018/11/26 20:33:39

D&G gaffe reveals crisis response isn't just job of PR

After racist messages from Stefano Gabbana, one of the designers of Dolce & Gabbana (D&G), triggered outrage on China's social media, the Italian fashion brand issued its first statement claiming that its Instagram accounts had been hacked.
Source: Global Times | 2018/11/26 19:43:40

Nissan wants more say in alliance with Renault, but standoff could descend into demolition derby

Nissan and Renault's standoff could quickly descend into a demolition derby. The Japanese carmaker wants more say in the alliance. Given the partnership's lopsided governance, Nissan's best bet would be to snap up shares in Renault, neutralizing its controlling stake. The exit of Nissan Chairman Carlos Ghosn makes such a radical move easier. The scandal involving the Renault boss aggravates an already fraught relationship. After two decades, the larger Japanese group wants to renegotiate an alliance under which the two carmakers own stakes in each other and share costs.
Source: Global Times | 2018/11/26 19:43:39

China's engagement in rule-making key to WTO reform

With the escalating China-US trade conflict, much attention is being paid to the upcoming bilateral meeting during the G20 summit, which is expected to yield certain agreements to ease the dispute.
Source: Global Times | 2018/11/25 23:18:17

In testing time, Beijing must resolutely pursue reform and opening-up at own pace

China has granted German insurer Allianz permission to establish the country's first wholly foreign-owned insurance holding company. The approval, which came several years earlier than anticipated, is a positive signal that the opening-up of China's financial sectors will accelerate.
Source: Global Times | 2018/11/25 23:13:39

China's Belt and Road initiative deserves more respect

The Asia-Pacific Economic Cooperation leaders' summit concluded in Port Moresby, Papua New Guinea without a joint communique, primarily because of deep disagreements between the US and China.
Source: Global Times | 2018/11/25 23:03:39

US-based short seller moves into difficult territory by backing Chinese EV firm as well as Tesla

Short-selling is tough, but picking winners may be just as difficult. Andrew Left's Citron Research, known for negative reports on stocks, is now backing both electric-vehicle (EV) maker Nio and Elon Musk's Tesla. Conceding the dominance of Musk's creation and then betting on a rival is a challenging combination.
Source: Global Times | 2018/11/25 22:58:39

Reform helps China build high-standard market economy

The Chinese economy is facing a complicated situation that hasn't been seen in many years, given the major adjustments to the international trade and investment order, the ongoing China-US trade war, low confidence among China's private enterprises, and the weak outlook of the domestic economy.
Source: Global Times | 2018/11/22 21:03:43

WTO wouldn't be the same without China; Washington threats only make Beijing grow stronger

Kevin Hassett, one of US President Donald Trump's top economic advisers, suggested there could be a case for “evicting China” from the WTO, BBC reported. The US seems to want to mobilize its partners to besiege China in the WTO. But no threat can frighten China's government or its people. It would instead only make China grow stronger.
Source: Global Times | 2018/11/22 21:03:42

Globalization of NEV production offers rich rewards

China, Asia and indeed the world are beset by many economic and resource-related tensions. China has seen massive economic growth over the last few decades, creating many billionaires and lifting millions out of poverty. However, rapid growth comes at a cost – massive energy supply is needed, often based on coal, and this brings pollution.
Source: Global Times | 2018/11/22 20:03:40

Bitcoin's sharp drop from $20,000 to $5,000 reflects its lack of fundamental value

Bitcoin's latest slide is blowing digital stardust to the winds. Many fans dreamed the cryptocurrency would consign conventional finance to the dustbin, but a drop below $5,000 is proving it to be more vulnerable than stocks and bonds to investor funk. Bitcoin's flaw remains its lack of fundamental value.
Source: Global Times | 2018/11/22 19:38:40

Is BRI road to a 'debt trap'? The numbers say no

The issue of whether China is pursuing “debt diplomacy” through the Belt and Road initiative (BRI) has sparked international debate.
Source: Global Times | 2018/11/21 22:48:40