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Zuckerberg's plea is a siren call for rules to keep profits private while socializing responsibility, costs

Mark Zuckerberg is realizing more regulation has its merits. The founder and chief executive of $480-billion Facebook wants governments to develop standardized rules for the internet. There's a lot to be said for the idea. But it also smacks of a way for tech firms to keep profits private while socializing responsibility and costs.
Source: Global Times | 2019/4/3 17:23:40

Chinese economy looks bright despite recent dips

Moving into 2019, a shadow of uncertainty looms over the Chinese and world economy. It was the most discussed topic at the 2019 Boao Forum for Asia (BFA) last week in South China's Hainan Province. On the sidelines of the BFA, Global Times reporter Zhou Zheng (GT) sat down with James Stone (Stone), founder and CEO of Plymouth Rock Assurance Corporation and former chairman of the US Commodity Futures Trading Commission, to try and gain a better understanding of the future direction of both economies. The conversation also provides insights on the China-US trade talks and China's financial opening-up.
Source: Global Times | 2019/4/3 17:23:40

May's third Brexit defeat leaves hard lessons and few good options to lead smooth EU withdrawal

Only one definite conclusion can be drawn from Theresa May's latest parliamentary defeat. Britain will not leave the EU on March 29, despite the prime minister's repeated promises that it would. After lawmakers on Friday voted by a majority of 58 to reject her Brexit deal for the third time, the country will remain part of the bloc for at least another two weeks.
Source: Global Times | 2019/4/2 21:43:16

China-US ties will likely face decade-long rebalance

The past year of 2018 has seen the world economy come to a crossroads. Protracted trade tensions followed by tough trade talks between China and the US have added uncertainties to the global economic environment. On the sidelines of the 2019 Boao Forum for Asia in Boao in South China's Hainan Province on Friday – same day China and the US engaged in eight rounds of trade talks in Beijing – Global Times reporter Zhou Zheng (GT) interviewed Charles Dallara (Dallara), partner at the Partners Group and former managing director of the Institute of International Finance who represented the US in negotiations with Japan in the 1980s, to get his insights on the world economy, China-US trade talks and China's opening-up.
Source: Global Times | 2019/4/2 21:33:40

Myanmar dam project shouldn't be politicized

Non-governmental organizations, political parties, and environmental experts from every state and region in Myanmar have been invited to come together in opposition to the China-financed Myitsone Hydropower Dam project, Frontier Myanmar magazine reported.
Source: Global Times | 2019/4/2 21:28:40

German business enthusiasm for Belt and Road Initiative to prompt pragmatism from Berlin

German business circles have shown growing enthusiasm toward the Belt and Road Initiative (BRI), even though the German government is still wrangling over the infrastructure-building initiative.
Source: Global Times | 2019/4/2 21:23:40

It's not a bad thing if European economies start embracing industrial policies again

Many Western media have recently reported that the EU is embracing industrial policy again, saying that the EU is inclined to accept the French proposal to carry out European industrial policies to reinvigorate its industry and strengthen the foundation of Europe's economic recovery.
Source: Global Times | 2019/4/1 21:33:40

BRI challenges can be resolved for common benefit

A controversy has erupted over the China-Pakistan Economic Corridor (CPEC), the India-based Economic Times reported Monday, saying the Pakistani government had reportedly diverted large sums of Chinese investment meant for the CPEC to other projects.
Source: Global Times | 2019/4/1 21:18:40

Swedbank CEO step-down still leaves iceberg of problems, investigation underway

Swedbank's attempt to cauterize wounds is unlikely to succeed. Its board on Thursday dismissed Chief Executive Birgitte Bonnesen and appointed Finance Director Anders Karlsson as an acting replacement following allegations that the lender was involved in money laundering in the Baltics. The problem for investors is that the scandal will last longer than her tenure
Source: Global Times | 2019/4/1 21:18:39

The Fed ought to buy recession insurance soon

The next global downturn may still be a little way off. The chances that the North Atlantic as a whole will be in recession a year from now have fallen to about one in four. German growth may well be positive this quarter, while China could rebound, too. And although US growth is definitely slowing – to 1 percent or so this quarter – this may yet turn out to be a blip.
Source: Global Times | 2019/4/1 21:13:39

Why Luxembourg's endorsement of BRI is big deal

While many have focused on Italy's endorsement of the China-proposed Belt and Road Initiative (BRI), less attention has been paid to Luxembourg, which signed an agreement with China last week to cooperate on the initiative.
Source: Global Times | 2019/3/31 19:43:39

Europe needs to focus on technological development instead of caving to the US

Wary of losing its economic predominance to China, the US government has been on the offensive to challenge China on trade, future technologies, and investment. The assault could intensify if politicians in Washington see weakness in China's resolve to fight back.
Source: Global Times | 2019/3/31 18:38:40

Trading insights from everyday investors

In the eyes of a multitude of retail investors, the backbone of the A-share market, the spectacular rebound – the key Shanghai Composite Index had surged 21.2 percent this year as of the market's close on Wednesday – seemed to be a shot in the arm. As a consequence, those who have deleted their trading apps are downloading them again, and many new stock accounts have been opened. While stock investment is essentially about capital gains and losses, narratives by some veteran investors, interviewed by the Global Times recently at two iconic trading venues in Beijing, appear to have gone beyond merely buying or selling stocks. While the majority of mainland investors now trade stocks from their smartphones, old-fashioned trading halls are easier places to sense what retail investors truly feel.
Source: Global Times | 2019/3/31 18:38:39

Fiat Chrysler might gain from M&A waiting game as deal could lead to success in Asia, EVs

Fiat Chrysler Automobiles might gain from playing an M&A waiting game. Already the subject of interest from Peugeot of France, the $24 billion carmaker could face a bid from a merged Renault-Nissan, the Financial Times reported on Wednesday. Such a deal would be tricky and take time. But patience could give FCA better options to solve its tech and Asian headaches.
Source: Global Times | 2019/3/31 18:23:40

UK's Huawei review should not be weaponized

The European Commission has recommended that EU nations share data to handle cybersecurity risks in 5G networks but shunned US calls to ban Chinese telecom giant Huawei across the bloc.
Source: Global Times | 2019/3/28 20:34:26

With high dependency on imported oil, China needs to continue strategic petroleum reserve buildup

According to a recent blueprint report on China's oil and gas industry for year 2018-19, the nation's apparent oil consumption reached 648 million tons in 2018, up 6.95 percent compared with the previous year, while China's net imports of crude oil rose 10.9 percent year-on-year to 460 million tons. The report also said that China's dependency on imported crude oil was approaching 70 percent last year.
Source: Global Times | 2019/3/28 20:13:40

China and Kazakhstan to embrace new stage of ties

The last several years have been a defining period in the development of relations between Kazakhstan and China. Never before have our two nations embarked on such an ambitious and globally important project as the revival of the ancient Silk Road. Since independence, Kazakhstan has strongly believed in enhancing international trade and facilitating greater business ties with its closest neighbors. For this reason, Kazakhstan's first President Nursultan Nazarbayev pursued open market policies that facilitated and enhanced global trade, not just in the region, but around the world.
Source: Global Times | 2019/3/28 18:18:43

China property giants find tech siren songs hard to resist as they invest in EVs, others

China's property developers are struggling to resist the siren song of tech investing. China Evergrande, a $45 billion giant, reported bumper earnings last year, along with several major peers, even as overall sales growth slowed. Home prices are rising, debt is stabilizing and government policy is friendlier. Shareholders could relax, were developers not plowing the bounty into electric cars and farm technology.
Source: Global Times | 2019/3/28 17:23:41