Britain's shock vote to leave the European Union could derail a raft of financial services projects agreed between China and the United Kingdom, which for years has marketed itself to Beijing as its best economic and financial friend in Europe. The "Leave" camp clinched 52 percent of the vote at this week's referendum on whether the UK should remain a member of the EU, confounding traders and bookmakers who had expected Britons would opt to stay and sparking turmoil in global markets. Britain now faces a long period of uncertainty, as the government begins an two-year process to renegotiate its relationship with the EU, which allows goods and services to be freely traded within the bloc. Friday's result also threatens to redefine Britain's growing financial services relationship with China, which has agreed to a number of joint projects as part of the China-UK Economic and Financial Dialogue (EFD) program to deepen economic ties between the two counties, based largely on the UK's … [Read more...] about Brexit puts UK-China financial services linkages at risk
Why trade with china
For the southwestern city of Kunming, China's plan to extend a high-speed rail link 3,000 km (1,875 miles) south to Singapore is already a boon: pristine expressways, a gleaming station and something of a real estate boom, as young buyers crowd property showrooms. In Laos, work has yet to start on what should be the first overseas leg of a rail line stretching throughout Southeast Asia. The country, one of the region's poorest, could struggle to finance even part of the $7 billion cost and has yet to agree financial terms with China. From Laos, the railway would enter Thailand. But Beijing's negotiations have soured there as well, in part over financing, adding to a growing headache for China and highlighting the sort of problems Beijing may face as it develops its economic highways beyond Southeast Asia and across Asia under its "One Belt, One Road" project. The ambitious plan to build land, sea and air routes reaching across the continent and beyond was announced by President Xi … [Read more...] about On southwestern fringe, China’s Silk Road ambitions face obstacles
VietNamNet Bridge - According to Bloomberg, the amount of capital out of China in 2015 was about $1,000 billion, compared to only $134.3 billion in 2014. However, there is no sign that Vietnam has attracted some of that capital. According to the Central Institute for Economic Management’s (CIEM) macroeconomic report in the first quarter 2016, the deceleration of the Chinese economy may affect neighboring countries, including Vietnam. The impact on Vietnam may come from different channels: directly affecting Vietnam’s growth due to the fall of China’s import of goods; the impact of the measures to stimulate growth that China is using and will use to restore growth; and the indirect effects from the global environment in general as other economies are also affected. The Chinese government has implemented a series of measures to prevent the decrease of growth. The important solutions consist of the devaluation of the yuan (CNY) and interest rate cut. Until the … [Read more...] about $1,000 billion “flees” from China – Will Vietnam benefit?
U.S. President Barack Obama said on Monday that a Chinese-led regional trade deal demonstrated the urgent need for Congress to approve the 12-nation Trans-Pacific Partnership trade pact. Obama has been pushing to finalize the TPP before he leaves office on Jan. 20, but he needs to overcome strong anti-trade sentiment from both the left wing of his own Democratic Party as well as from the right flank of the Republican Party. Voter anxiety over the impact of trade deals on jobs and the environment has featured large in the campaigns of Donald Trump, the Republican front-runner for the Nov. 8 presidential election, and U.S. Senator Bernie Sanders, who is running against Hillary Clinton for the Democratic nomination. In an opinion piece published on the website of the Washington Post on Monday, Obama said he understood voter skepticism but that "building walls to isolate ourselves from the global economy" would backfire on the American economy. "China is negotiating a trade deal … [Read more...] about Obama says Chinese-led trade deal shows need for TPP: Washington Post
(VEN) - African, West and South Asian Markets Department Director Ly Quoc Hung told the Vietnam Economic News that trade between Vietnam and Israel has increased rapidly in recent years and Vietnam has the opportunity to reach the balance of trade or even obtain a surplus in trade with Israel. Vietnam Economic News Phuong Lan & Hoa Le spoke with him to learn about bilateral trade and bilateral cooperation potentials. … [Read more...] about Vietnam reaches trade surplus with Israel