Many historic changes are due to globalization and global governance, with uncertainties rising in geopolitics adding to the tensions between major powers. Therefore, many ask the question like what could be done to re-calibrate global governance to fix the woes plaguing the world economy.
China announced it would set up the Xiongan New Area in northern Hebei province on April 1, as part of measures to advance the coordinated development of the Beijing-Tianjin-Hebei region. The central government said that the concept of green development will also be emphasized during the whole process of design and construction of the area.
The two-day Belt and Road Forum for International Cooperation in mid-May held in Beijing attracted more than 130 countries. Even the US and Japan sent high-level delegations to participate in China`s biggest diplomatic event of the year. India was the only country among those along the Belt and Road that skipped the meeting on this signature project.
Quite unexpectedly, US President Donald Trump chose the Middle East as the destination for his first foreign trip as sitting president. The improved relations between the US and Saudi Arabia have led people to wonder whether the Trump government will resort to a "rebalancing strategy" in the Middle East.
The two countries should better align their strategies according to the principle of equality and mutual benefits, and China is ready to steadily advance major cooperation projects with Turkey under the initiative.
From my point of view, although China`s economic transformation has seen some positive signs and appears to be heading in the right direction, the arduousness of the transition has not changed at all. China does still face the risk of falling into the middle income trap.
The Silk Road Economic Belt and 21st-Century Maritime Silk Road Initiative (Belt and Road Initiative) has received enthusiastic support from more than 100 countries and international organizations since being put forward, and over 40 have signed more than 50 cooperation agreements or memorandums with China aimed at pushing forward its development.
The two-day Belt and Road Forum for International Cooperation has ended with great success and the joint communique showed the firm confidence and unity of the global community to work together for a better future through cooperation on the "One Belt and One Road" (B&R) initiative.
Globalization is facing some challenges, as even economies championing economic liberalism and free trade have witnessed waves of anti-globalization, and rising uncertainties in geopolitics have added to the tensions between major powers. What can be done to recalibrate global governance and fix the woes plaguing the world economy?
As economic globalization now faces strong headwind, the Belt and Road initiative is getting wide attention from the international community. Aside from an impetus in infrastructure development, global trade and cross-border investment, it also opens new opportunities for US-China cooperation.
It is widely understood regarding the Beijing Belt and Road (B&R) summit on May 14-15 that the Belt and Road Initiative (BRI) is a decisive strategic project for China and participating countries. But it is still not widely grasped just how much greater the economic growth potential is in the B&R region compared to other world economic centers.
According to a study issued by the McKinsey Global Institute in 2015, the world`s economic center remained in the East like in the year 1000. The US replaced Europe as the center of the world`s economy after WWII. But with the wheels of history turning into the 21st century, China has reinstated itself as the global economic center.
The much anticipated Belt and Road Initiative forum is set to take place in Beijing. The event will be held in just over a week, on May 14 and 15. Questions some may ask could include why China is holding such an event at this time? What issues and topics will be covered, and what should we, along with others from across the globe, expect from this meeting?
The China-Pakistan Economic Corridor (CPEC) will play a leading role in the Belt and Road initiative. Recently, the Chongyang Institute for Financial Studies at Renmin University of China launched an intensive research program to look at the progress and problems of the CPEC construction in Pakistan. After assessment, we found that the construction has been unexpectedly fast. Four key areas of cooperation - energy, transport infrastructure, industrial cooperation and Gwadar Port - have made sign
On April 25 and 26, invited by Chinese Embassy in Austria and city of Salzburg, Professor Wang Wen, the Executive Dean of Chongyang Institute for Financial Studies at Renmin University of China (RDCY), delivered two keynote lectures on the theme of “China’s Challenges and Opportunities”and “Global Transformation and China-Proposed Belt and Road Initiative”.
The AIIB has been improving its organizational structure since its inauguration in January 2016. Focused on financing infrastructure construction across Asia, the multilateral development financial institution has brought something new to the international financial environment and raised expectations.
On April 7 the China Banking Regulatory Commission (CBRC), the country`s banking watchdog, issued a guideline urging the banking industry to focus on serving the real economy. To that end, the commission requires commercial banks to innovate, control risks, intensify reforms and concentrate on traditional banking practices.
To a large degree, Trump`s learning curve is not as steep as people have predicted. Instead, he and his team are endeavoring to adjust to realities within and outside of the US.
The constitutional referendum held in Turkey on Sunday is widely regarded as "the retrogression of democracy" by Western media. The new constitution will put an end to more than 90 years of parliamentary system in the country and strengthen the power of the president, which will make the government more authoritarian.
On April 12, US President Donald Trump said that he would not label China as a currency manipulator. The decision dramatically reduces the probability of a trade war between US and China.