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Why a no-deal Brexit is a big deal for Britain and the rest of the world

As the British Conservative Party leadership race enters its final few days, Boris Johnson remains the overwhelming favourite to become prime minister this week. The clash between Johnson and Jeremy Hunt has seen a no-deal Brexit assume growing likelihood, despite the fact that this disorderly outcome is still widely misunderstood. In trading last week, markets were rattled following Brexit remarks from both Johnson and Hunt. With the pound battered in foreign exchange markets, the UK currency… Source link

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China 

Why are more of China’s students returning from overseas big fans of the Chinese economic model?

At the turn of the century, many people foresaw a “westernisation” process taking place in China – the development of a market economy and a freer society – especially after China joined the World Trade Organisation in 2001 with a clear commitment to reform its state-owned enterprises. The number of Chinese students studying in the US and European schools soared, offering fresh hope that returnees with an overseas educational background would facilitate China’s transformation into a society… Source link

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China has a big headache bashing Citic Securities with CLSA, instead of getting its own version of Goldman Sachs

The man tasked with building a Goldman Sachs for Communist China was done playing nice.With hundreds of staff gathered to hear him speak at the Beijing Four Seasons Hotel in January, Citic Securities Chairman Zhang Youjun called out leaders of his firm’s international unit by name and questioned their ability to earn a decent return on capital. In a room full of investment bankers, it amounted to a stunning rebuke.For the executives at Citic’s CLSA unit who sat listening to Zhang in silence, it… Source link

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China, Hong Kong shares slip, with traders dumping some stocks that saw big run-ups

Hong Kong and China stocks slipped, as traders pocketed gains in recent run-ups in consumer goods and other sectors.The Hang Seng Index closed down on Thursday 0.2 per cent to 28,795.77, dragged down by consumer stocks, which lost more than 1 per cent. Health-care was the top gainer, rising 1.5 per cent.Meanwhile, several recently listed stocks in Hong Kong saw huge drops after spectacular gains, as speculators who had recently jumped onto the roller-coaster ride up suddenly rushed for the… Source link

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Vietnam 

Body blow for suppliers as Big C stops buying textile products in Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives of garment and textile suppliers at Central Group Vietnam’s office after the Thai owner of Big C supermarket told them it was suspending purchases their products with immediate effect. — Photo nld.com.vn HCM CITY — Big C Vietnam has suspended local purchase of apparel but clarified it is only temporary and it does not plan to pull out of the garment business. On July 2, Central Group, the owner of the Big C supermarket chain, sent a letter to Vietnamese vendors saying it plans to stop buying garments from…

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US should start manipulating the dollar, Donald Trump says, accusing China and Europe of playing ‘big currency manipulation game’

US President Donald Trump on Wednesday accused China and Europe of playing a “big currency manipulation game”. He said the United States should match that effort, a move that directly contradicts official US policy not to manipulate the dollar’s value to gain trade advantages.In a tweet, the president said that if America does ‘match’ China and Europe, the country will continue “being the dummies who sit back and politely watch as other countries continue to play their games – as they have for… Source link

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Property 

Australian incubator RealTechX makes a big push to scale up real estate technologies in Asia-Pacific

A A$23 million (US$16 million) incubator programme for property start-ups, backed by the Australian government, is seeking to bring technology-led innovation and solutions to markets in Asia-Pacific, including Hong Kong. RealTechX is an incubator programme that aims to bring together 10 start-ups with market-ready products or services. Launched by real estate innovation and venture capital firm Taronga Ventures, a part of Sydney-based investment house Taronga Group, the fund is accepting… Source link

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Vietnam 

Big pork shortage looms over Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — Việt Nam could have a shortfall of 500,000 tonnes of pork, or nearly 20 per cent of demand, in the period until the Lunar New Year in early 2020 due to the effect of African swine flu, according to global research firm Ipsos Business Consulting. In its assessment on Việt Nam’s swine market supply and demand from July to early 2020, the company said though demand was down since consumers had sometimes switched to other foods, the decrease in supply was much higher and so supply…

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Vietnam 

Big challenges hinder Việt Nam’s largest infrastructure project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The Hà Nội-HCM City High Speed Rail Project is estimated to cost US$58.7 billion. — Photo swissinfo.ch HÀ NỘI — The Hà Nội-HCM City high speed rail project will benefit the country’s economy, but there are several challenges to implementation of the mega project, including financing, attracting private sector interest and a weak business case. So said analysts from Fitch Solutions Macro Research in a report released this week on the outlook of the largest infrastructure project in Việt Nam for the next decade. According to Fitch analysts, the US$58.7…

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Vietnam 

SCIC to divest capital at big firms in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses in 2019. — Photo vneconomy.vn HÀ NỘI — The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses including many big ones this year. SCIC has released the list of State-owned enterprises from which it would divest State capital in 2019. The list includes some giants such as Bảo Minh Joint Stock Corporation which SCIC holds 51 per cent of charter capital, FPT Joint Stock Company with 6 per…

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