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Traditional banks should not overlook their advantages in battle with online rivals

The huge success of Alibaba’s Alipay and Tencent’s WeChat Pay in the online payment arena appears to have inspired China’s various traditional financial service providers to formulate their own digital transformation plans. But it seems that they’ve devoted so much to learning from the Internet titans’ experiences that they have missed out on the chance of figuring out their own formula that leverages their traditional advantages. Working out how to stay competitive in a technology-powered age will involve thinking beyond the current online obsession.
Source: Global Times | 2017/8/27 21:58:40

US still getting its infrastructure strategy all wrong

Washington has infrastructure all wrong. There’s a big funding gap, but cash isn’t the problem. There’s more than enough capital in search of long-term investments. What the federal government needs to do is remove hurdles to private financing, be willing to take good ideas from elsewhere and help change the mindset of states, localities and consumers.
Source: Global Times | 2017/8/27 21:53:39

Looming US stock correction won’t hurt A shares

A near-term correction that apparently looms in the US stock market won’t have much impact on China’s A-share market, which can still rise during the rest of this year.
Source: Global Times | 2017/8/27 20:08:39

Rising use of industrial robots in China will revolutionize global production chain

It was supposed to be Southeast Asia and Africa that would replace China as low-end manufacturers in the global value chain, yet the rise of robots in China’s factories raises doubts that this will actually happen.
Source: Global Times | 2017/8/27 20:03:39

Do US voters want ‘America first’ or ‘Trump first’?

We all know that President Donald Trump used the slogan of "America first" and won the election. The people were keen to see what the president would bring them with his policies. Now 200 days are long enough for a newly elected president to show his talent and his ability and let the world see what he can do for the US.
Source: Global Times | 2017/8/27 19:18:39

Rising debt casts shadow over global economy

Debt risk remains the sword of Damocles hanging over the sustainable growth of the world economy. In 2017, global debt continued to rise amid an intensifying imbalance of debt risk distribution, which exacerbated the possibility of global systemic risk and brought new uncertainties to global financial stability, hampering long-term economic growth.
Source: Global Times | 2017/8/24 22:08:39

Joining forces can help Chinese, Indian drugmakers achieve healthy growth in Africa

Africa needs to import nearly 97 percent of the medicines it consumes, according to a China Trade News report on Thursday. For drugmakers in China and India, which are enthusiastic about beefing up their presence in the continent, it is worth considering joint investment in local pharmaceutical industries to relieve the acute shortage of medicines there.
Source: Global Times | 2017/8/24 22:03:40

Mexican paradox shows need for targeted reforms

Few economies pose as big a paradox as Mexico’s. Emerging from a series of macroeconomic crises in the mid-1990s, Mexico undertook bold reforms that should have put it on track for rapid economic growth. It embraced macroeconomic prudence, liberalized its economic policies, signed the North American Free Trade Agreement (NAFTA), invested in education, and implemented innovative policies to combat poverty.
Source: Global Times | 2017/8/24 22:03:39

Tencent’s team seems to have advantage in battle for online food ordering market

In a food fight between China’s three Web giants, Tencent looks strongest. A food-delivery business backed by Alibaba is close to buying a Baidu-owned rival, says a person familiar with the matter. The combined firm will nonetheless struggle to unseat the Tencent-backed Meituan-Dianping, which 86Research says is now the market leader.
Source: Global Times | 2017/8/24 21:58:40

Economic fundamentals don’t support stronger yuan

The risk of yuan depreciation doesn’t seem to be troubling investors any longer, with the currency having been on a gradual upward trend for about three months. The central parity rate of the yuan was set at 6.6633 per US dollar on Wednesday, according to the China Foreign Exchange Trading System.
Source: Global Times | 2017/8/23 21:48:40

India shouldn’t see Nepal’s economy as a strategic battlefield against China’s influence

Nepal Prime Minister Sher Bahadur Deuba on Wednesday left for India on a five-day state visit during which the two countries are scheduled to sign four memoranda of understanding worth $250 million, according to the Times of India. If India wants to give substantial economic help to its neighbor to counter China’s growing influence in Nepal, it shouldn’t hesitate.
Source: Global Times | 2017/8/23 21:48:39

Chinese consumers not enthused by smart homes yet, but firms anticipate gold rush

China has continued to appeal to both domestic and foreign firms seeking a slice of its enticing smart home market, although mass consumer interest in the new technology has yet to be ignited.
Source: Global Times | 2017/8/23 19:03:39

China needs to take initiative in trade with ASEAN

This year is the 50th anniversary of the establishment of the Association of Southeast Asian Nations (ASEAN), and next year is the 15th anniversary of the setting up of the China-ASEAN strategic partnership. In 2010, the China-ASEAN Free Trade Area was launched as the third-largest free trade zone for China. Looking back over the past 14 years, the trade between China and ASEAN has not only promoted bilateral economic development, but has also contributed new vitality into the world economy and trade.
Source: Global Times | 2017/8/23 19:03:39

Western powers neglect how China shared innovation throughout history

Lately when reading the news, we see a lot of talk about an imminent trade war that will break out among the biggest economies in the world, namely China, Europe and the US.
Source: Global Times | 2017/8/22 21:58:40

Japan can’t replace products from China in India’s low-income consumer market

At this very sensitive moment, when Chinese and Indian troops are engaged in a stand-off in the Doklam region, India is preparing to host Japanese Prime Minister Shinzo Abe in September, in an effort to seek support from Tokyo for its stand on regional issues.
Source: Global Times | 2017/8/22 21:58:39

UK consumers could lose out amid 5G battle between BT and Li Ka-shing’s Three

A high-stakes legal fight is brewing in the esoteric world of mobile-spectrum licensing. Telefonica’s O2 has much to lose, as do British consumers waiting for ultra-fast 5G internet.
Source: Global Times | 2017/8/22 19:23:39

Global economy recovering well but risks remain

August 9, 2017 is the 10th anniversary of the decision by the French bank BNP Paribas to freeze some $2.2 billion worth of money-market funds. Those of us who were active in financial markets at the time remember that event as the beginning of the worst global financial crisis since the Great Depression.
Source: Global Times | 2017/8/22 19:23:39

Bannon misreads Sun Tzu in going to economic war

President Donald Trump’s former chief strategist Steve Bannon is said to have read many books, including The Art of War by Sun Tzu, a Chinese classic on strategy written about 2,500 years ago. It’s little book that one easily reads many times, as have many executives in modern organizations.
Source: Global Times | 2017/8/21 18:48:39