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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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Singapore 

Driver arrested for carrying a truncheon after crashing into sign in Upper Thomson Road, Singapore News

SINGAPORE – A 28-year-old man was arrested for carrying a truncheon in a public place after getting into an accident along Upper Thomson Road on Tuesday morning (April 23). The Straits Times understands that the man’s car had crashed into a signboard at a petrol kiosk along the road, in the direction of Sembawang Road. Photos of the accident show the car with its front bumper badly damaged. The police were alerted to the incident around 9am. When they arrived at the scene, they found that no one was injured.…

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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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Singapore 

Police investigating case of e-scooter rider who allegedly hit child along Orchard Road, Singapore News

The police are investigating a case of an e-scooter rider who allegedly hit a child along Orchard Road on Friday evening (Apr 19). Several Stomp contributors alerted Stomp to a video of the confrontation between the rider and the child’s father that was posted to Complaint Singapore’s Facebook group page. In the video, a group of women are seen tending to a child as his father hurls vulgarities at the e-scooter rider. According to the post, the father of the kid had allegedly punched the rider after he struck his son. It added…

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Singapore 

Woman risks her life by sitting in the middle of the road to take a selfie, Singapore News

People have proven that they are willing to go to great heights and lengths to take a selfie. One woman put her own life at risk by sitting in the middle of a road while taking a photo of herself. Facebook user Vincent Neo posted a video of the woman that was captured in an in-car camera. According to the timestamp, this happened on Apr 14 at about 4.47am. The location is unclear. Irresponsible Lady putting other motorists in Danger of hitting her down if the driver was unaware that…

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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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Singapore 

Crane crashes into overhead bridge at Jurong Town Hall Road, Singapore News

A crane being transported on a trailer collided into an overhead bridge along Jurong Town Hall Road on Saturday night (Apr 13). Stomp contributor Sam alerted Stomp to the incident and shared photos he took as he was passing by the scene. In response to a Stomp media query, the police said they were alerted to the accident involving a trailer with crane at about 10.01pm. No injuries were reported, a spokesman said. Police investigations are ongoing. 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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