Two apparently contradictory trends in RMB internationalization emerged recently. Positively, the RMB overtook the Yen to become the fourth most used currency for international payments; unfortunately, some negative trends appeared in China`s position in the international economy.
John Ross accepts an interview by CCTV on Chinese President Xi Jinping`s visit to Britain on October 23.
Following the opening of the Fifth Plenary Session of the 18th Communist Party of China (CPC) Central Committee on Monday, China`s 13th Five-Year Plan (2016-20) is under heated discussion. The nation is faced with unprecedented opportunities in financial reform and opening-up.
The first ‘Think 20’ (T20) regional meeting titled "Turkey, India and the G20" organized by a think tank, Gateway House, in collaboration with the Economic Policy Research Foundation of Turkey (TEPAV), opened a new chapter in India`s participation in the G20.
A spokesman for the European Bank for Reconstruction and Development (EBRD) told the Global Times Monday that China was exploring the possibility of joining the multilateral lender.
It is being reported Chinese rail giant CRRC is going to join the bidding for Britain`s second high-speed railway project.The plan is to link London with the northern British city of Birmingham.
President Xi Jinping`s visit has resulted in about 40 billion pounds ($62 billion; 54.5 billion euros) of deals in the UK, including Chinese investments which are set to take in nuclear power, high-speed rail, oil, electric buses, theme parks and investment in research and development in the new wonder material graphene.
China`s strategic ambitions for the "One Belt, One Road" initiative have been exaggerated. There has been some foreign media speculation that China aims to build a new empire and gain greater influence over the continents of Europe and Asia through the initiative. This is a huge misunderstanding, and one that could develop into a new version of the "China threat theory."
Chinese President Xi Jinping`s five-day state visit to the UK starting from Monday corresponds with the commencement of the second decade of the Sino-UK comprehensive strategic partnership. This is also the first-ever official visit to the UK by a Chinese head of state in 10 years.
John Ross accepts an interview by CCTV on Chinese President Xi Jinping`s UK tour and China-UK commercial ties.
In March, the United Kingdom joined the Asian Infrastructure Investment Bank despite strong opposition from the United States, the first in the Western world to join the China-backed bank. Since then, many other developed countries have followed suit. The courage, guts and vision of the UK have left a deep impression on the world. Not long ago, British Finance Minister George Osborne visited Xinjiang, sending a positive signal for the country`s participation in building "One Belt, One Road". UK`
Xi Jinping`s state visit to Britain from October 19 to 23 is important itself, but it also illustrates clearly the basis for mutually beneficial relations between very different countries. The visit is also part of a process showing the principles by which differences between countries should be overcome.
These moves have demonstrated that the UK is determined to become the most proactive Western country in exploring cooperation with China. There are four primary aspects of the UK`s role in participating in the "One Belt, One Road" initiative.
President Xi Jinping`s forthcoming state visit to the UK heralds a "golden era" in ties between China and Britain. During his trip to China in September, UK Chancellor of the Exchequer George Osborne stated China will become the center of the global economy and Britain not only welcomes the rise of China, but ought to be China`s best partner in the West.
If this approach does not work, China will be faced with some grim alternatives — either turn tail and leave, or risk getting bogged down in security commitments and local politics. It has made clear that it does not want to replace the US in Afghanistan nor does it see itself as a regional policeman. “China will not fall into the same mistakes,” says Jia Jinjing, a specialist on south Asia at Beijing’s Renmin University.
Xi Jinping`s visit to Britain from October 19 to 23 represents a triumph of China`s diplomacy - a demonstration of how firmness on principles together with willingness to meet any positive openings halfway can yield big benefits for China and other countries.
John Ross accepts an interview by CCTV on President Xi Jinping`s visit to Britain.
Britain was once the world`s largest economy and most powerful state, but this position has been taken by the US and increasingly by China. Thanks to Britain`s long period of development it retains a standard of living China is still growing towards.
The conclusion of Trans-Pacific Partnership (TPP) negotiations has touched a global nerve. Does the formation of the TPP foreshadow the end of China`s era?
Deutsche Bank, the largest bank in Germany, recently said it will probably post a third-quarter loss of 6.2 billion euros ($7.1 billion), causing wide concern among the international banking community. One reason for the huge loss lies in the bank`s risk management strategy. For instance, by the end of 2013, the bank`s derivative exposure was more than 54.6 trillion euros ($75 trillion at the time), which was 100 times larger than its 522 billion euros in deposits, 20 times larger than Germany`s