SOURCE >> Expert assessment

China pursues economic transformation while heading off possible global recession

Warning signals are flashing. In the US, the yield on the benchmark US 10-year Treasury note fell below the two-year rate, a bond market phenomenon that has historically heralded a brewing economic recession. And the US is not the only major economy facing a possible recession. Germany, the UK and Brazil are all seeing signs of trouble. Germany, the world's fifth-largest economy, just reported that its GDP shrank by 0.1 percent in the second quarter.
Source: Global Times | 2019/8/21 17:58:40

Key move in China's interest rate reform doesn't mark opening of floodgates

The People's Bank of China (PBC), China's central bank, has decided to improve the formation mechanism of the loan prime rate (LPR), which was launched in 2013. The rate reforms aim to lower the financing cost for businesses and promote a market-oriented interest rate. Many have painted it as another monetary easing measure under a different name.
Source: Global Times | 2019/8/20 21:03:41

West right to abandon bias of China's development assistance model

China has been providing foreign assistance to Africa for almost 70 years, and seven decades ago, the newly founded People's Republic of China did not hesitate in its selfless support of newly independent African countries in their desire to make their nations stronger.
Source: Global Times | 2019/8/19 20:28:39

China could play mediator role to help resolve Japan-South Korea trade friction

Tensions between Japan and South Korea have been escalating since July 1. Japan has since placed restrictions on three chemicals critical to South Korea's tech industry. Uncertainty exists within ongoing negotiations for the Regional Comprehensive Economic Partnership (RCEP), and the China-Japan-South Korea free trade agreement (FTA).
Source: Global Times | 2019/8/18 19:02:21

Wise companies in Hong Kong ought to draw a clear line against violent protests

A group of violent protesters in Hong Kong organized a series of illegal rallies and violent protests that have had devastating effects on the local economy and people's well-being.
Source: Global Times | 2019/8/15 20:43:41

Trade conflict will prompt China to develop a more independent monetary system

The China-US trade war began over a year ago, the US' economic bullying has since spread to the financial and currency sectors as the US has designated China as a currency manipulator.
Source: Global Times | 2019/8/14 20:48:40

China must focus on own development as Washington sets trade war fire in financial sector

Against the backdrop of the escalating China-US trade war, the yuan dropped below 7 – an important psychological level – against the US dollar on August 5. The US Department of the Treasury later designated China a currency manipulator in a move that further escalated the trade row. The exchange rate clash between China and the US has been widely interpreted as a trade war upgraded to a currency war or financial war. Some market analysts have even made predictions for the China-US financial war.
Source: Global Times | 2019/8/13 20:23:41

Financial defense important in US-China trade war

On March 22, 2018, US President Donald Trump signed a presidential memorandum imposing large-scale tariffs on Chinese goods, a decision which prompted speculation in the global financial market until now. In fact, the US-China trade war has already spread to the global financial market. In early August, when the US once again unilaterally declared new tariffs and officially named China a “currency manipulator,” the yuan's exchange rate against the dollar weakened for several consecutive trading days in the foreign exchange market, intensifying trade war tensions.
Source: Global Times | 2019/8/12 18:18:40

A new world economy on the horizon with BRI serving as an opening alternative

All world economic indicators, international agencies, and major economic blocs point to the same conclusion: There is slow economic growth, free trade is under pressure and investment is less likely.
Source: Global Times | 2019/8/11 20:03:40

US out of line labeling China a currency manipulator

The US Treasury surprised the markets with its designation of China as a “currency manipulator” on Monday, after the yuan breached the 7 mark against the greenback for the first in more than a decade. In an exclusive interview with Global Times (GT) reporter Li Tianyang following the US' capricious move, Yu Yongding, an academician and senior fellow of the Chinese Academy of Social Sciences, shared his input on the accusation of manipulation.
Source: Global Times | 2019/8/8 19:03:40