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Retail 'market downgrade' sends alarm signals amid increased e-commerce monopoly

Talk of a so-called “consumption downgrade” has emerged in China in recent years. It refers to a shift of consumer preference from luxury products to cheaper goods amid the economic slowdown. Chinese officials have generally denied such a phenomenon, but even if China is really undergoing a “consumption downgrade,” cutting down spending on luxury goods is just a normal response by people when facing a slowing economy.
Source: Global Times | 2019/7/7 20:38:44

International cooperation imperative in the face of evolving cybersecurity threats

Technological advancements, while making life simpler and smarter, have heightened cybersecurity woes. Cybersecurity readiness and resilience has therefore become one of the battlefields for industries and governments to flex their muscles.
Source: Global Times | 2019/7/7 19:23:40

Indonesia to emulate China's e-commerce boom

Indonesia, which shares multiple similarities with China in e-commerce, is still lagging behind by roughly five years, but it has the potential to become the next giant market in the e-commerce world.
Source: Global Times | 2019/7/7 19:13:39

India faces setbacks if it shuns Huawei in 5G era

Principal scientific adviser to the Indian government K Vijay Raghavan seems to hope India can suffer more setbacks in the development of 5G wireless communication. Setbacks can teach India, make the nation stronger, he seemingly believes.
Source: Global Times | 2019/7/4 21:03:14

Resilient Chinese economy eases anxieties brought by bleak world economic future

China's macroeconomy is at a critical stage as internal economic problems have emerged in the last two years. When we attempted to define the “new normal” of China's economy and chose the path to structural reform on the supply side, we failed to consider world economy changes.
Source: Global Times | 2019/7/4 20:03:40

Tesla's drive back to growth encouraging, but turning a profit remains tough

Elon Musk has relieved some of the pressure bearing down on his electric-car maker. Tesla has bounced back from a poor first quarter by posting record sales for the three months to the end of June. The company's drive back to growth is only half the journey, however.
Source: Global Times | 2019/7/4 18:28:40

Hong Kong's prosperity can counter US meddling

There are varied understandings of Hong Kong's prosperity, and even local residents have hugely diverging views on it. From the standpoint of public policy, Hong Kong, a special international financial hub and free port under the sovereignty of China, essentially relates its prosperity to a collective consensus of the city's stakeholders – Hong Kong residents, investors from outside the city, the Chinese mainland, and its international society.
Source: Global Times | 2019/7/4 18:23:40

Bumpy road ahead for Libra's global currency goal as supervision called for

Facebook's announcement regarding its global cryptocurrency Libra, to be launched in 2020, has recently sent shockwaves through the world. Regulators in the US and European countries have already said that there would be plenty of scrutiny over the new cryptocurrency.
Source: Global Times | 2019/7/3 22:18:40

Rioters, the West make vain move to plunge HK into economic recession

Hong Kong's economy will be badly hit by radical activists who have caused tangible damage to the city's economic recovery. They and the power behind them are sinners against Hong Kong's economy. Hong Kong society should stand up against riots that seriously damage Hong Kong's wellbeing and future.
Source: Global Times | 2019/7/3 22:13:40

Blackstone and LEGO family bet against odds, acquire Legoland's owner Merlin Entertainments

Child-friendly theme park rides are safer and more accessible than ever before, but decidedly less rewarding. That is a fair summary of Blackstone's deal to help take Legoland owner Merlin Entertainments private at a 4.8 billion pound ($6.07 billion) equity value.
Source: Global Times | 2019/7/3 18:53:40

More leeway needed for creativity to flourish in China

China, long known as the world's factory, has increasingly been referred to as an engine powering global technology sphere. As Jean-Pierre Bourguignon (Bourguignon), president of the European Research Council (ERC), put it, China is already a global science and technology powerhouse. In an exclusive interview with Global Times reporter Li Qiaoyi (GT) on Monday at the World Economic Forum's Summer Davos in Dalian, Northeast China's Liaoning Province, the French mathematician called for more leeway to enable creativity to flourish in China, and advocated an open attitude toward academic exchanges to shake some suspicions surrounding the academic environment. Bourguignon chairs the organization created by the European Commission in 2007 to fund frontier research.
Source: Global Times | 2019/7/3 18:48:40

FedEx lawsuit against Department of Commerce reveals US governance predicament

US carrier FedEx has filed a lawsuit against the US Department of Commerce (DOC) on June 24 to prevent the government from “enforcing prohibitions contained in the Export Administration Regulations (EAR) against FedEx,” according to an online company statement.
Source: Global Times | 2019/7/2 20:18:40

Rising GNI gives China ammunition in trade talks

China, which is home to the world's largest population, saw its per capita gross national income (GNI) reach $9,732 in 2018, higher than the average of other middle-income countries.
Source: Global Times | 2019/7/2 20:03:40

Capitalism will be the villain of US elections as current economic system challenged widely

Capitalism has emerged as the villain in the race to represent Democrats in America's next presidential election. Contenders sparring in their first debate on June 26 agreed that the economic system has mainly aided the wealthy. Even on Wall Street the idea has gained traction.
Source: Global Times | 2019/7/2 17:48:40

China, India can collaborate to counter trade war uncertainties

There is growing belief that China and India are set to become the drivers of global growth and the technology part of the story is especially worth noting. During the World Economic Forum “Summer Davos” in the coastal city of Dalian, Northeast China's Liaoning Province, Girish Ramachandran (Ramachandran), president of the Asia-Pacific branch of Tata Consultancy Services (TCS), offered insights into technology ties between the two giant Asian economies while talking with Global Times reporter Li Qiaoyi (GT) in an exclusive interview on Monday.
Source: Global Times | 2019/7/2 17:28:40

Countries need to engage in the digital economy and cyberspace through trust, cooperation

As our societies have stepped into the era of the information technological revolution, a few nations that were slow to embrace the revolution and the new political environment are now taking the lead in international relations so that they can avoid being sidelined this time.
Source: Global Times | 2019/7/1 20:36:42

Biased views deceive world about BRI-related loans

The objectivity of Harvard University economics professor Carmen Reinhart's study on China's overseas lending is doubtful.
Source: Global Times | 2019/7/1 20:23:40

European IPO investors show reassuring rationality; share prices floating at lower end of initial range

Initial public offerings bankers typically cite “market conditions” when ropey listings run into trouble. For once there's some truth to that catch-all excuse, with three very different European companies pricing at relatively modest valuations on the same day. It's a welcome indication that investors can stay rational despite buoyant stock markets.
Source: Global Times | 2019/7/1 18:18:40