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Business leaders across Asia like Beijing’s Belt and Road vision. But China’s rising influence is giving some the jitters

Business leaders across Asia recently surveyed by two professional services firms believe China’s growth and infrastructure investments through its “Belt and Road Initiative” mean its dominance in the region will only expand – despite earlier expectations that India would become more influential.But the executives still have concerns about the reach of Chinese companies within their domestic economies and would be less amenable to Chinese investors acquiring local firms in specific sectors,… Source link

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China 

China’s belt and road may accelerate exit of manufacturing to Vietnam and India, researchers warn

The trade war with the United States coupled with the “Belt and Road Initiative” has the potential to add further pressure to China’s sluggish economy and debt pile, according to researchers, as the benefits of manufacturing in the mainland decrease.China’s manufacturing industry has already been hit by the US trade tariffs, in particular, the smaller exporters who are the most vulnerable to slowing demand and slimmer margins in the face of competition from low-cost alternatives including… Source link

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Global 

China’s belt and road plan helping foreign firms and hurting mainland exporters, say Canton Fair exhibitors

China’s “Belt and Road Initiative” has created unexpected, and often unwanted, challenges for China’s small and medium-sized exporters, according to veteran Chinese traders attending the Canton Fair.While traders pay lip service to the government plan to recreate the Silk Road trading routes to Europe, Africa and the Middle East, some also worry that the initiative is generating new competition for the already embattled export sector.“China’s top leaders went to belt and road countries and… Source link

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Turning China’s Belt and Road Initiative into a new cold war weapon by the US is deeply frustrating

Don’t bother to try calling any of Hong Kong’s big business bosses at home this week – they are all away in Beijing, paying homage to the miracle that is Belt and Road, along with over 40 foreign leaders and 5,000 business leaders from 150 countries worldwide.Conspicuously absent will be anyone senior from the US, as “new cold war” evangelists like Mike Pompeo, John Bolton, Mike Pence and even the footloose Steve Bannon continue to fulminate against what they see as a not-very-subtle Chinese… Source link

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Citigroup’s golden strategy as banker to Fortune 500 companies taps China’s Belt and Road corridors

Citigroup said on Wednesday that its revenue is up 30 per cent over the past year from clients along trade corridors being developed as part of China’s “Belt and Road Initiative”.The bank said the growth was being driven by increased business activity by Chinese companies, as well as multinational corporations, along trade routes connecting China to Europe and the Middle East through Central Asia and China to Southeast Asia.The projects cited by Citi included a US$775 million project bond for… Source link

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China’s US$10 budget phone maker seeks fortune in Belt and Road countries

While China’s largest smartphone makers are making a big push to compete against Apple and Samsung Electronics in the industry’s premium market segment, a little-known company in Shenzhen is gunning for millions of consumers around the world with mobile phones priced from US$10.Transsion Holdings has been focused on bringing affordable smartphones and feature phones, handsets with physical keypads and limited functionality, to developing economies since it was founded in 2006. It is a strategy… Source link

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China 

Britain’s quest for a role in China’s Belt and Road is a journey to nowhere because of the UK’s disconnection from Europe

Britain is at the end of the road, not only because of its messy attempt to leave the European Union, but also because of its physical position with regard to China’s Belt and Road Initiative (BRI).Unlike Italy, which is set to become a way station for the BRI’s march into continental Europe, all roads from Britain lead to nowhere.As the UK staggers and stumbles toward some kind of exit from the EU, like a drunken man through a revolving door, some Brexiteers are looking to a UK-China free… Source link

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China’s Belt and Road may be the closest the world has to a stimulus plan that can kick some vigour back into the global economy

They seem to keep coming, these stock market mini-meltdowns, and flash crashes, or whatever you like to call them. The most recent was just over a week ago, when markets from Wall Street to Tokyo plunged briefly, eliciting headlines that a crash was at hand, followed by equally unthinking assurances that all is well. These “corrections” seem to be occurring more often, since the market slump at the end of last year. They are probably best seen as “blue screen” moments of the kind computers… Source link

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CLSA to remain a major banker for ‘belt and road’, says Citic Securities

Citic Securities said it will continue to invest in its wholly-owned international brokerage CLSA, in an effort to grow its advisory and asset management capability in countries covered by China’s “Belt and Road Initiative”.Zhang Youjun, chairman of both Citic Securities and CLSA, said senior management at the state-owned brokerage felt “regretful” and “sad” to see the departure of long-serving CLSA chief executive Jonathan Slone, who tendered his resignation on Wednesday citing “family reasons… Source link

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Debt-laden Italy eyes China’s belt and road, risking more than just the wrath of Donald Trump and the EU

Is China’s “Belt and Road Initiative”, as Italian Finance Minister Giovanni Tria says, “a train that Italy cannot afford to miss”? Prime Minister Giuseppe Conte also thinks Italy should jump on board, saying the multibillion-dollar Chinese infrastructure plan is “an opportunity for our country”. Italy’s government plans to sign a memorandum of understanding with China on the belt and road scheme during Chinese President Xi Jinping’s March 22-24 visit, making it the first founding European Union… Source link

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