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2017
Asia Needs more Dialogue
Solutions to urban pollution may prove complex
Spread of ESGs could herald new global movement
Investing in quality education is imperative if India wants to reap demographic dividends
China needs to lead in new multi-stakeholder world
China’s B&R initiative leading a resurgence of Asia
Education is key - but long-term: Can we survive?
New wave of robots will be beneficial to all
China needs to continue with its ‘heavy lifting’
Time is right for Chinese firms to invest in Europe
Robots to the rescue for China?
Asian Multinationals are Going Global, But to Where?
China ratchets forward with energy efforts
China’s calm necessary for globalization push
Bridging managerial gaps involves trust-building
China well-placed to power its future through green technology advances
China's new 'springtime' is here
2016
China’s moves show it’s banking on the future
Mindset for action at the G20 summit will be determined by Chinese presidency
Chinese head-hunting intensifies for rare managers that can steer overseas firms
US talk of isolation jars with growing links in Europe and Asia
Electoral rhetoric on global trade not in sync with reality
Is it time to be prudent and consider austerity policies again?
What will we do if we have no oil?
Unlock talent by finding the right fit for a person
The benefits are real and tangible
Trade along China’s ‘One Belt, One Road’ won’t succeed without the currency of trust
Reasons for optimism about the long term
2015
Can big oil go green and win?
Poorer Nations Could Sway Climate Talks
Combating Idleness and Deprivation
How China can be a model of food sustainability for the developing world
Kyoto II – Is it a Done Deal?
A meeting of the two largest economic powers
Why China will experience a 'soft' landing
Beware of superstitions
The Elephant and Dragon move ahead
G-7 target on fossil fuels raises many questions
Why Battle for Net Neutrality in the US Matters Globally
China’s resurgence – the ‘normal new’
Wanted: A managerial culture that embraces cultural differences
China's early education plan a smart investment in the future
The New Normal for China and India
2014
China's infrastructure push offers a sure track to better growth
US-China climate pact a good start, but not quite enough
Rethink the human’s place in the ‘digital revolution’
China springs a carbon surprise
Infrastructure - the invisible hand in full view
Dialogue vital for survival of Iraqi nation
China must nurture a new generation of beautiful minds
Great expectations in China and India
GM Cereals – The Pros and Corns
Time to be Honest about Our Energy Prospects
Weathering the Storm of Climate Change
Making a Big Decision? Beware of Your Biases
West Deserves Better Logistics Infrastructure
Digital Currencies do Represent the Future
From 'Printed' Houses to Wooden Skyscrapers
It’s time to bail out our schools, not our firms
Solution to India’s housing shortage – print new ones!
And the most promising green technologies of 2014 are ...
Transport infrastructure key to domestic, export growth
Oil stopgaps: Not worth risking
2013
Why the US should grant Edward Snowden amnesty
May we be more optimistic!
China headed for another massive social experiment?
A dialogue that worked
Yes, politicians deserve vacations - because we benefit
NPOs, NGOs invaluable as creators of dialogue
Look closer and ask: Is America reinventing itself?
Boston bombings case underlines need for dialogue
Millennium Development Goals or own goals?
As usual it's about balance - and timing - of course
Chinese strategists make right moves for growth
2012
Preparing for tomorrow
Austerity or growth?
Japan in danger of becoming 'just a place to fly over'
Beware of the business cycle?
An inconvenient truth
Limited offer sale: Buy a country
Where did our money go?
Leading from behind - a year of elections is almost over
Driving towards a green future
Waiting for springtime
Preserve or Perish
Startlingly similar Asia policy for Obama, Romney
Globalisation remains an irresistible trend
Google has the edge in smartphone war
U.S. Braces for China's Rise
Mankind’s General Scourge
The summer holidays are over and nothing has changed!
Put the hidden trillions to work
Making sense of India’s woes and wonders
Storm in a teacup!
Let’s give bad bankers a venue to admit their sins
News is about depth, not puff or velocity
Booming India, but too few toilets
Delayed Court decisions doesn't mean one may continue to play 'Great Game'
We need media to reflect on data and offer public a balanced view
Big polluters can lead in forging common purpose
The weighty issue of choosing a leader
EU-India Relations - Facing similar challenges
Educating with a goal
The Judicial Malaise
We are growing out, but not growing up
EU´s retrenchment enigma
Urbulence in the Eurozone and the effect on SMEs
Skolkovo May Help Russia to Diversify
Make things more effective
Tapping into the Commonwealth connection
Innovative models for public finance
Facebook revolution but Indian style
The feel-good factor
Asian investors - a private equity opportunity
India needs to be taller and stronger
China´s low sales volume...
Nations playing leapfrog
Shafts of sunlight
What webs we weave
As performers go to Davos, the circus steals the show
Can we control the politicians?
 
2011
Europe’s reminiscence
China firms should go for win-win in overseas ventures
Of procrastination...
Making sense of profiteering
Truth about financial mess must be laid bare
Small is also beautiful
China can help Europe with debt crisis
Excising the cancer of global corruption
Education, a critical asset
Arab uprisings set in motion forces of creative destruction
A new era of change
We must ensure better education for all
Beijing wary of bankrolling a lost cause
Asean's re-emergence as a local and global leader
Why India's Role in the Global Economy is Still Work in Progress
Its the leadership, stupid!
Reverse globalisation: The new buzzword
China’s B&R initiative leading a resurgence of Asia
By Frank-Jürgen Richter
Global Times, July 24, 2017
 

China's first quarter data indicated it grew at 6.9 percent, beating analysts' forecasts and surpassing its annual target. Other data supports a solid economy and a continuing growth trend. Two statistics from May relating to iron ore purchasing cross-check well: according to Thomson Reuters' vessel-tracking and port data China's seaborne imports came in at 85.8 million tons, and the General Administration of Customs said that imports of iron ore were 91.52 million tons, up from 86.75 million tons a year ago. Iron ore can be considered a "leading indicator" of economic well-being and reflects China's new surge of domestic and international infrastructure programs, especially the Belt and Road initiative.

The raised GDP figures prompted the National Bureau of Statistics to suggest China's economy had become "more stable, coordinated and sustainable" yet they also cautioned that external influences and global uncertainty were relatively large and might negatively impact China's development.

One aspect of concern is the growing volume of overseas investments by a relatively few large Chinese conglomerates. The recently concluded National Financial Work Conference, held only once every five years, stressed that the financial sector ought to better serve the real economy. In parallel, the country's banking regulator is looking more carefully at leading Chinese investment companies to study their overseas loans.

Such activity perhaps follows global concerns that have seen both European and US regulators levy massive fines on bankers: it would thus be prudent to show Chinese regulators fully understand their position while they open-up the internal markets to new trading by a few specialist banks such as UBS, BlackRock and Fidelity.

One might sense China's surge along three tracks - the development of its financial markets (partially represented by these new fund managing firms), its internal growth management which will maintain alignment with the 2015 Paris Agreement on Climate Change (that perhaps China is leading following the US default), and the 2015 UN Sustainable Development Goals (SDGs) as well as fully developing the Belt and Road initiative.

The three specialist banks have been represented in China for a while. Fidelity was first, in May, to launch a private fund in China; BlackRock is the globe's largest money manager; and UBS, a Swiss global funds manager, reckons world-wide there is massive amounts of un-managed capital, but only recently has the Chinese domestic market been opened to allow them to directly target high net worth investors to offer onshore fixed income, equity and multi-asset private fund investments. UBS also pledged investment of $5 billion over the next five years in sustainable development-related investment options.

One goal of 2015 was to lift as many people out of poverty as possible. China achieved an exemplary performance on this measure and hopes to do more through the SDGs - which aim to eradicate poverty globally. Hence the UBS fund is designed to aid weaker nations with loans from richer nations by offering its investment management skills. To an extent, UBS's entry into China might reflect the growing influence of the China-Switzerland Free Trade Agreement that has supported several joint ventures across the niche talents of Switzerland's firms.

The Belt and Road initiative is becoming more visible across Central Asia and beyond. For instance Kazakhstan and China jointly built the Khorgos Frontier International Cooperation Center which straddles their border. A new priority for the initiative is the central corridor that will link Urumqi via Khorgos to Bishkek (in Kyrgyzstan) …then to Tashkent (Uzbekistan), Ashgabat (Turkmenistan) and finally to Tehran (Iran) based on a top-class fast rail system through states that presently lack the finance and technical skills to build such interconnections. And like the old days, the new corridor will spark innovation along its routes tapping natural resources and tourism, invigorating large populations in these countries.

China promoted "Socialism with Chinese characteristics" from the 1980s, and a key Party plenum in November 2013 pledged a "decisive" role for markets in the economy. This was not only a slogan, but was supported by policy directives and guidance leading to the development of engineering, science and commercial strengths that are visible today. In contrast, US Donald Trump copyrighted "Make America Great Again" in his election campaign trail spurring populist voters to elect him. Presently US business leaders acknowledge the IMF's statement that US productivity is low, even if employment is high. They note that during the first six months of Trump's presidency neither he nor his administration has offered sufficient policy guidance to relieve their anxieties.

The differences between China and the US are clear. China is developing widespread infrastructure projects. The three rail and road corridors (the northern route through Mongolia into Russia and then to Europe; central, as mentioned above; and the southern route from Kashgar through Islamabad to Karachi and Gwadar Port) offer huge opportunities for millions of people: trade and other exchanges will develop. It could nurture new intellectual growth and technical innovation hubs to build the future of the Asian resurgence led by China. And the long links into Europe, not only from China, would support trade and other exchanges of benefit to the world's development.

 

The author is founder and chairman of Horasis, a global visions community.

 


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